For students looking to build credit and earn some cash back, student credit cards can be a good option. Having a credit card can offer security and convenience that cash or checks lack. In addition, using a credit card responsibly can help you build a strong credit history and increase your credit score. Finally, a line of credit may be helpful if you need to cover random expenses, especially if you’re living away from home for the first time. The Capital One Journey Student Credit Card gives young adults access to credit and encourages them to use it responsibly.
What Is the Capital One Journey Student Credit Card?
This is a Capital One rewards card designed for students. It offers 1% cash back on all purchases, and cardholders who pay on time each month will earn a 25% bonus. Capital One also offers new cardholders the opportunity to increase their credit line after they make their first five monthly payments on time. There is no cap on the rewards you can earn, and you can get cash back in the form of a statement credit or a check.
Other perks include no foreign transaction fees, $0 annual fee, fraud coverage, and extended warranty protection. Auto rental and travel accident insurance are also included. This card carries no foreign transaction or annual fees and an APR of 26.74% (Variable) .
Pros & Cons of the Capital One Journey Student Credit Card
This student credit card offers competitive rewards and encourages responsible behavior by offering additional rewards to those who make on-time payments. It’s also nice to have a card with no foreign transaction fees, making this ideal for Spring Break, a semester abroad or backpacking in Europe.
Unfortunately, students who don’t use their credit responsibly may find themselves with significant debt, low credit scores or both. Another drawback is that the .25% bonus on cash-back rewards is insignificant compared to the late fee of up to $39.
Is This Card Right for You?
This card is a good match for students who want to earn cash back and won’t be tempted to spend just to earn more rewards. It’s also good for those who tend to pay their balance in full so they don’t lose rewards to high interest. This card may also make sense for students traveling outside the U.S., as it is one of the few student cards without a foreign transaction fee.
Before You Apply
Before you apply, you’ll want to be sure to check with the issuer to make sure you meet their guidelines. The Journey Student Credit Card requires fair credit, which is generally a FICO score in the low- to mid-600s. If you’re not sure of your credit score, it’s a good idea to check it before you apply. You can view two of your credit scores for free on Credit.com.
If you meet the issuer’s general credit requirements, fully understand the card’s terms, and find it will meet your needs, this card may be a good match. If your credit standing doesn’t meet the issuer’s requirements, you may want to take steps to work on your credit and apply when your scores are higher.
At publishing time, the Capital One Journey Student credit card is offered through Credit.com product pages, and Credit.com is compensated if our users apply and ultimately sign up for this card. However, this relationship does not result in any preferential editorial treatment. This content is not provided by the card issuer. Any opinions expressed are those of Credit.com alone, and have not been reviewed, approved or otherwise endorsed by the issuer.
Note: It’s important to remember that interest rates, fees and terms for credit cards, loans and other financial products frequently change. As a result, rates, fees and terms for credit cards, loans and other financial products cited in these articles may have changed since the date of publication. Please be sure to verify current rates, fees and terms with credit card issuers, banks or other financial institutions directly.
This article has been updated. It originally published on September 3, 2015.