The Journey Student Rewards from Capital One, while no longer available, served as a reasonable option for students seeking to establish credit with a straightforward rewards program. However, compared to other student cash back cards, it fell short due to its high APR and modest rewards rate.
Quick Overview
- Rewards Rate: 1%
- Finance Devil Rating: 3 stars out of 5
- Annual Fee: $0
- Intro Offer: N/A
- Regular APR: 29.99% (Variable)
Best for Flat-Rate Cash Back and Studying Abroad
The Journey Student Rewards from Capital One is no longer available.
Journey Student Rewards from Capital One Overview
A no-frills student card like the Journey Student Rewards Card from Capital One provides an excellent opportunity to build credit history while navigating the world of rewards. This card is a solid choice for beginners because it’s low-maintenance, offers cash back on all purchases, promotes good credit habits, and doesn’t burden cardholders with unnecessary fees. Its security features and lack of foreign transaction fees make it an excellent companion for students studying abroad.
However, once you’re more comfortable with credit, other student cards may offer more enticing benefits. Capital One’s newer student cards, for instance, provide more value for credit newcomers.
Pros and Cons
Pros:
- You can boost your cash back rate to 1.25% on purchases for the month following an on-time payment.
- The card has no annual fee or foreign transaction fees.
- You’re automatically considered for a higher credit line after just six months, one of the fastest review periods in the market.
Cons:
- This card features a high ongoing APR, even for a student credit card.
- It lacks zero-interest offers and common student perks, such as cellphone insurance, which are available with other Capital One student cards.
- You only receive the boosted rewards rate after making on-time payments each month.
A Closer Look at the Current Card Offer
Quick Highlights:
- Rewards Rate: Unlimited 1% cash back on all purchases, boosted to 1.25% for the month when the card is paid on time, 5% cash back on hotels and rental cars booked through Capital One Travel (terms apply).
- Welcome Offer: N/A
- Annual Fee: $0
- Purchase Intro APR: N/A
- Balance Transfer Intro APR: N/A
- Regular APR: 29.99% (variable)
Rewards Rate
The Journey Student Rewards card offers flat-rate cash back, meaning it provides the same rewards rate for all purchases. This straightforward structure is beneficial for student expenses like textbooks, technology, and student fees, which typically don’t fall into bonus reward categories. A flat-rate card simplifies earning rewards for students new to credit because it eliminates the need to track bonus categories or tiers.
However, simplicity doesn’t always translate to the highest rewards. At its best, the Journey Student Rewards card offers only slightly better rewards than some basic secured and fair credit cards, making it less appealing to those seeking higher rewards.
Earning Rewards
You’ll earn a flat 1% cash back on all purchases, which increases to 1.25% for the month if you pay your credit card bill on time. This bonus works by adding an extra 0.25% cash back to your rewards balance for that billing cycle’s purchases if your account remains current at the end of the billing period.
While this rewards rate is decent for students who prefer simplicity, it falls short compared to cards with bonus categories that offer higher cash back rates.
Redeeming Rewards
Redeeming rewards with the Journey card is straightforward. You can request cash back in the form of a statement credit or a mailed check. Additionally, Capital One allows cardholders to redeem cash back for credits on previous purchases, gift cards, and checkout payments through PayPal and Amazon.com’s “Shop with Points” feature.
Reward Value
The Journey card earns cash back, which is equivalent to 1 cent or 1.25 cents per dollar, depending on whether you make on-time payments. Capital One’s terms for other redemption options, like Amazon’s “Shop with Points,” indicate that reward values may vary. However, cash back offers consistent and predictable rewards value, making it an ideal choice for those seeking reliability.
Additional Cardholder Benefits
The Journey Student Rewards card includes standard features found in other Capital One credit cards. However, it distinguishes itself with student-centric perks that provide added security and convenience while shopping or traveling.
Automatic Credit Line Reviews: Responsible credit use may qualify you for a higher credit line in just six months. This increased credit limit can help improve your credit score more quickly if you maintain a low credit utilization ratio.
Credit Card Security: The card offers robust security features, including:
- CreditWise from Capital One: This free service provides credit report change alerts from Experian and TransUnion, dark web scanning, and Social Security number tracking.
- Virtual Credit Card Numbers: Capital One offers virtual credit card numbers through the Eno browser extension, enhancing online purchase security.
- Fraud Coverage: You’re protected by $0 Fraud Liability if your card is lost or stolen and used for unauthorized purchases.
- Emergency Card Services: In case of loss or theft, you can obtain an emergency card replacement and a cash advance (subject to available credit).
Rates and Fees
The Journey Student Rewards card is a low-maintenance credit card with no annual fee or foreign transaction fees. However, it lacks introductory APR offers for significant purchases.
Unfortunately, student credit cards typically come with high interest rates and late fees, and the Journey Student card is no exception. Carrying a balance could result in the 29.99% ongoing variable APR and a late payment fee of up to $40.
Although this APR is relatively high, especially for a student card, it does not increase due to missed payments, as there is no penalty APR.
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How The Journey Student Rewards Card from Capital One Stack Up Against Other Student Cards
The Journey Student Rewards Card from Capital One is a popular choice among students, but how does it stack up against other student cards? Let’s compare it to some notable alternatives
In general, the Journey card offers slightly better benefits than some cards, including Capital One’s credit line increase review at six months. However, its cash back rate and everyday perks are less impressive compared to several competing cards, including other Capital One student cards.
The Journey card also lacks the first late fee waiver and introductory zero-interest periods that other issuers may offer to students. If you’re a first-time cardholder seeking a safety net while building credit, alternative cards may be more suitable. Here are a few options:
1. Journey Student Rewards Card vs. Discover it® Student Cash Back:
Rewards Rate:
- Journey Student Rewards Card: 1% cash back on all purchases (boosted to 1.25% for on-time payments).
- Discover it® Student Cash Back: 1% to 5% cash back on rotating bonus categories, with a cashback match for the first year.
Annual Fee:
- Both cards have no annual fees.
Intro Offer:
- Journey Student Rewards Card: None.
- Discover it® Student Cash Back: Cashback match for the first year, effectively doubling your cash back.
Regular APR:
- Journey Student Rewards Card: 29.99% (variable).
- Discover it® Student Cash Back: A more reasonable variable APR.
Key Difference:
- The Discover it® Student Cash Back card offers higher cash back rates in rotating bonus categories, making it potentially more rewarding for those who can track and maximize these categories. It also has a cashback match for the first year.
2. Journey Student Rewards Card vs. Bank of America® Customized Cash Rewards for Students:
Rewards Rate
- Journey Student Rewards Card: 1% cash back on all purchases (boosted to 1.25% for on-time payments).
- Bank of America® Customized Cash Rewards for Students: 1% to 3% cash back on select categories, with a choice to change the category.
Annual Fee
- Both cards have no annual fees.
Intro Offer
- Journey Student Rewards Card: None.
- Bank of America® Customized Cash Rewards for Students: A cash bonus after spending a certain amount in the first few months.
Regular APR
- Journey Student Rewards Card: 29.99% (variable).
- Bank of America® Customized Cash Rewards for Students: A more reasonable variable APR.
Key Difference
- The Bank of America® Customized Cash Rewards for Students card offers flexibility in choosing a bonus category, potentially allowing for higher cash back in specific spending areas. It also provides an intro bonus.
3. Journey Student Rewards Card vs. Capital One SavorOne Student Cash Rewards:
Rewards Rate
- Journey Student Rewards Card: 1% cash back on all purchases (boosted to 1.25% for on-time payments).
- Capital One SavorOne Student Cash Rewards: 3% cash back on dining, entertainment, streaming services, and 8% cash back on tickets through Capital One Travel.
Annual Fee
- Both cards have no annual fees.
Intro Offer
- Journey Student Rewards Card: None.
- Capital One SavorOne Student Cash Rewards: No specific intro offer mentioned.
Regular APR
- Journey Student Rewards Card: 29.99% (variable).
- Capital One SavorOne Student Cash Rewards: A potentially lower variable APR.
Key Difference
- The Capital One SavorOne Student Cash Rewards card offers higher cash back rates in specific categories like dining and entertainment, making it a great choice for students who spend in these areas. However, specific details about an intro offer are not provided in the article.
In summary, the Journey Student Rewards Card from Capital One is a solid choice for students looking for a straightforward cash back card, especially if they prioritize simplicity. However, other cards may offer higher cash back rates in specific categories or more attractive introductory offers. Students should consider their spending habits and preferences when choosing the right card for them.
Best Cards to Pair with the Journey Student Rewards Card from Capital One
Given the Journey Student Rewards card’s flat 1% to 1.25% cash back rate, pairing it with other cash back cards that offer higher rewards in your top spending categories can maximize your earnings.
For everyday expenses like shopping or dining out with friends, consider the Capital One SavorOne Student Cash Rewards credit card. It offers unlimited 3% cash back on dining, entertainment, popular streaming services, and grocery store purchases. Plus, you’ll earn a generous 8% back on entertainment purchases booked through the Capital One Entertainment portal.
Is the Journey Student Rewards Card from Capital One Worth It?
The Journey Student Rewards Card from Capital One is a reasonable choice for first-time cardholders seeking a straightforward cash back card for all occasions. Its 1% flat cash back rate on all purchases can be appealing, especially for those new to rewards. Additionally, the card’s perks provide peace of mind while shopping or traveling.
However, the card’s high ongoing APR and relatively low rewards rate may make other student cards more valuable and accessible. Several cards, including other Capital One student offerings, provide higher rewards rates and better perks. If you value simplicity and are solely focused on building credit and paying your balances in full each month, the Journey Student Rewards card could still be a viable option. Ultimately, your choice between these cards will depend on your priorities, energy, and earning potential.
To Recap
The Journey Student Rewards from Capital One, while no longer available for new applications, remains an interesting option for those who already hold it. This student credit card provides a straightforward approach to building credit and earning cash back rewards. Its key highlights include the potential to boost cash back rewards by making on-time payments, no annual or foreign transaction fees, and the opportunity for credit line increases after just six months of responsible use.
However, it’s essential to consider the drawbacks, too. The Journey card comes with a relatively high ongoing APR, even for a student credit card, and lacks some of the common student perks offered by other cards, such as zero-interest offers or cellphone insurance. Additionally, the enhanced cash back rate only applies after making on-time payments each month.
When comparing the Journey Student Rewards from Capital One to other student cards, it becomes clear that there are alternatives with more attractive benefits. Cards like the Discover it® Student Cash Back and Bank of America® Customized Cash Rewards for Students credit card offer better rewards rates, lower APRs, and additional perks that can benefit students.
Ultimately, the suitability of the Journey Student Rewards card depends on individual preferences and financial habits. For those who prefer a simple rewards structure and prioritize building credit, it may still have some appeal. However, students looking for more robust rewards and a wider range of benefits may find better options elsewhere in the competitive student credit card market.
FAQs
Is the Journey Student Rewards Card from Capital One still available for new applicants?
Applications for this card are no longer being accepted. The Journey Student Rewards from Capital One carries a variable APR of 29.99% for both purchases and balance transfers. This high purchase rate could pose challenges for students who are navigating their initial financial experiences independently.
Can I get a credit line increase with the Journey Student Rewards Card, and how quickly?
Understanding the process and timeline for qualifying for a credit line increase is essential for students looking to build their credit history.
What are the specific categories that qualify for the boosted 1.25% cash back rate with the Journey Student Rewards Card?
Knowing which spending categories trigger the higher cash back rate can help students maximize their rewards.
Are there any penalties for missing payments with the Journey Student Rewards Card, and does the APR change?
Understanding the consequences of missed payments and whether there is a penalty APR is crucial for responsible credit management.
How does the Journey Student Rewards Card compare to other Capital One student cards in terms of rewards and benefits?
Students may want to explore how the Journey Student Rewards Card stacks up against other Capital One options to make an informed choice.
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