Capital One Journey Student Credit Card Review
Looking for a card with rewards and no annual fee? Check out our Journey Student Rewards from Capital One credit card review.
Many credit cards help college students build credit while earning rewards. The Journey Student Rewards from Capital One credit card is one of them. Students may like this card due to its simplicity. There’s no need to figure out complicated rewards structures to be able to maximize rewards.
Before signing up, take a look at our review to determine whether this card is the best fit for you.
- Annual fee: $0.
- APR: 26.99% variable.
- Rewards: 1% cash back on all purchases with an additional 0.25% bonus for paying on time.
- Credit management tools: free credit score monitoring with the CreditWise tool.
- Best for: College students who want simple rewards earnings.
Journey Student Rewards from Capital One Credit Card Features
The highlights of this credit card include bonus rewards for on-time payments and travel benefits.
Bonus Rewards Earnings
Yes, you’ll earn 1% cash back on all purchases, but there's the potential to earn even more. All you need to do is make payments on time for each statement cycle to receive an additional 0.25% bonus. That means you could earn a total of 1.25% cash back for good financial behavior.
The Journey Student Rewards from Capital One credit card has travel accident insurance when you use it to purchase airfare. If there’s a qualifying loss, you’re covered. You’ll also get auto rental collision coverage — you could be reimbursed if your rental car is stolen or damaged — if you use your card, but read the fine print to see how to qualify.
Don’t forget Capital One's 24/7 travel assistance services if you need help getting your lost or stolen card replaced.
New cardholders will start receiving a $5 statement credit each month after their first on-time payment. This credit can be used toward qualifying video and streaming services such as Hulu, Netflix, Spotify, and Disney+.
You’ll be able earn up to 12 credits as long as you earn them within the first 18 months of account opening. Some exclusions and terms may apply.
Credit Line Increase Potential
If you’re looking to build your credit, Capital One may be able to help. If you continue to make on-time payments, you may qualify for a credit limit increase after six months. Increasing your credit limit may increase your credit score since it could raise your credit utilization rate — the ratio between your credit limit and how much credit you’ve used.
No Foreign Transaction Fee
This card doesn’t charge a foreign transaction fee, which is good news for students who want to travel internationally for the occasional summer vacation or study abroad for a semester. Issuers usually charge this fee for the privilege of using the credit card abroad. Considering many foreign transaction fees are as high as 3% of the purchase amount, you can save decent money, especially if you make a lot of purchases.
CreditWise is Capital One’s credit monitoring tool, which you can access from your Android or iOS device. You’ll be able to access your credit score as often as you’d like, and you’ll be notified of any changes to your score. Other features include alerts for potential threats to your personal information, such as your Social Security number being used with a new address or name. It’ll also scan the dark web to ensure your personal and sensitive information isn’t hiding there.
You can redeem your rewards at any time — there are no minimum requirements — either via check or statement credit. Capital One allows you to redeem your rewards automatically. All you need to do is choose a predetermined time each calendar year or a certain threshold to receive rewards.
You can redeem your rewards for gift cards, credits for past purchases and more.
Pros and Cons
- No foreign transaction fee: You don’t have to worry about paying any additional fees when using your card abroad. It’s a great card to take along with you when traveling overseas, during a trip across the border or when studying abroad.
- No annual fee: You can save some cash by avoiding an annual fee. There’s also no need to worry how you’ll recoup the costs by maximizing card benefits.
- Ability to increase credit limit: Though other cards may allow you to request a credit limit increase, this card can help you do so automatically once you make six on-time payments.
- Cash-back rewards: It’s not necessarily a unique feature, but the ability to receive cash-back rewards is pretty nice. Plus, you can earn bonuses for paying on time.
- No minimum redemption requirements: Unlike other cards with similar features, you don’t need to wait until you meet a minimum threshold to redeem your cash rewards. You can choose to redeem them automatically at a set time or when you reach a certain dollar amount, or you can make a manual request.
- High annual percentage rate (APR): At 26.99% variable, the APR on this card is higher than the APR on other student credit cards. However, it may not be a big deal if you pay off your entire balance each month.
- No bonus rewards categories: While the bonus cash-back rewards earnings are a nice benefit, other cards offer higher rewards potential. Some even offer higher earnings on popular spending categories such as gas, grocery and drugstore retailers.
- Need to have average credit: If you have a U.S. Social Security number or some form of credit history, you should be able to qualify for this card. Unfortunately, if you’re an international student or just starting out on your credit journey, you’ll have to find alternatives.
Is the Journey Student Rewards from Capital One Credit Card Suited for You?
The Journey Student Rewards from Capital One credit card is a decent card for college students who are just starting out on their own. You don’t need to worry about paying an annual fee, and the rewards earnings structure is simple to navigate. Plus, students who plan to study abroad will like the fact that there are no foreign transaction fees and several travel perks.
However, those who want to earn more rewards will need to look elsewhere. The same is true for those who intend to carry a balance, as the APR is so high.
College students also can save money by shopping around for the best deals on undergraduate and graduate student loans. Juno can help by negotiating lower rates on your behalf. Becoming a member is free.
Sarah Li Cain
Sarah Li Cain is a finance writer and a candidate for the Accredited Financial Counselor designation whose work has appeared in places like Bankrate, Business Insider, Financial Planning Association, Investopedia, Kiplinger, and Redbook. She’s the host of Beyond The Dollar, where she and her guests have deep and honest conversations about money affects their well-being.