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Last updated on March 28th, 2022
Journey Student Rewards from Capital One
- Regular Purchase APR 26.99% variable based on the Prime Rate
- Balance Transfer APR 26.99% variable based on the Prime Rate
- Cash Advance APR 26.99% variable based on the Prime Rate
- Annual Fee None
Credit NeededBestCards.com uses a variation of FICO Score 8, which is one of many different types of credit scores. A financial institution may use a different score when deciding whether to approve you for a credit card.Fair , No Credit Required
- Processing Network Visa
- Earn 1% cash back on all purchases
- When balance is paid on time, cash back earnings rate increases to 1.25% for the month
- Keep track of your credit score for free with CreditWise from Capital One®
- No annual fee
- Regular Purchase APR: 26.99% variable based on the Prime Rate
- Balance Transfer APR: 26.99% variable based on the Prime Rate
- Balance Transfer Transaction Fee: 3% of the amount of each transferred balance that posts to your account at a promotional APR that we may offer you. None for balances transferred at the Transfer APR.
- Cash Advance APR: 26.99% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $10 or 3% of the amount of each cash advance, whichever is greater
- Late Payment Penalty Fee: Up to $40
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At a Glance
The Journey Student Rewards from Capital One card is a student credit card that offers individuals with average credit a straightforward 1% cash back on all purchases. Where the card stands out, though, is its ability to increase your cash back to 1.25% each month that you pay it off on time. With this card, it literally pays to be responsible.
Ideal for Those Who:
- Have average credit (requires an existing credit history)
- Want to increase their credit score (even if you aren’t a student)
- Want access to free credit monitoring tools
- Plan on spending a semester abroad
- Can pay pay their balance in full each month
Journey Student Rewards from Capital One Review
Unlimited cash back rewards can by hard to come by if you have anything less than stellar credit, but the Journey Student Rewards from Capital One helps bridge that gap. It is one of the few student cards that offers up to 1.25% cash back on all purchases and has built-in credit improving features that automatically provide eligibility for an increased credit line. This card has no annual fee or foreign transaction fee, making it perfect for students with limited income or who plan on studying abroad.
However, these bells and whistles could end up costing you, as carrying a monthly balance could result in substantial interest fees due to a high purchase APR. Although this product is marketed towards students, this is a card that should not be considered by anyone who cannot bay their balance in full each and every month.
Misconceptions about the Journey Student Rewards from Capital One
First off, don’t let the name fool you. The Journey Student Rewards from Capital One credit card is available to anyone looking to increase their credit score, not just students.
Secondly, whereas most other student cards expect their applicants to have a limited or nonexistent credit history, Capital One’s student card requires ‘Average’ credit, meaning at least 3 years of either having a card in your name or having been an authorized user. This isn’t uncommon to see in credit cards with rewards so if you have absolutely zero credit history to your name, you may need to look for a student card with fewer frills.
Earning & Redeeming Rewards
One of the features that makes this card so attractive is that every purchase will earn at least 1% cash back with (no cap on earnings). And with this card, it literally pays to be responsible as your cash back earning rate can be boosted to 1.25% each month after making your monthly payment on time. The boosted rate will retroactively apply to all of your month’s purchases.
Captial One, as a whole, has one of the most flexible and user-friendly earning redemption methods of major card issuers – a huge plus for first-time owners of a rewards card. Redeem your earnings for cash back via statement credit or check (you can also set automatic redemptions when your earnings reach a specific amount), use them directly on a previous purchase (no need to worry about it increasing your card balance), or for gift cards.
Credit Building Card Perks
On-time payments could also pay off by qualifying you for a higher credit line – which would give any credit beginner (or a recovering score) a much-needed boost. The main benefit of an increased credit line is that it can lower your credit utilization ratio as long as your spending stays the same.
Knowing where your credit score stands at all times is important, and certainly more so to people trying to build up their credit score with the Journey Student Rewards from Capital One credit card. As such, the free tools available via CreditWise from Capital One® are invaluable as they grant unlimited access to your score so you can remain vigilant and proactive about your spending habits.
Should You Apply for the Journey Student Rewards from Capital One?
If you don’t have any credit history to speak of, you’ll probably be better off springing for a student card that either allows for a cosigner or has more lenient application requirements. Sadly, this may mean sacrificing cash back and other rewards.
Another reason to take caution with this card is that the purchase APR is particularly high (for both student cards and rewards cards) making it a risky endeavor for any student that has limited or irregular income and may not be able to pay a balance in full .
Overall, this is a solid option for any individual looking to improve their credit while earning modest rewards. There’s no annual fee (which is expected of any card branded for students) but the rewards structure and credit building tools are not unique to Capital One and there are several other student cards that offer similar benefits.
The main reason to choose this card over its peers would be for the ease of cash back redemption options and to build credit history with the issuer of some of the most popular credit cards.
Chase Freedom® Student Vs. Journey Student Rewards from Capital One Vs. Deserve EDU
Here’s how the Freedom Student compares to the Journey:
Earn 1% Cash Back on all purchases with your Deserve EDU Mastercard. Once approved, you'll automatically start earning cash back on all purchases
Receive one year of Amazon Prime Student on Deserve after spending $500 in the first three billing cycles with your EDU card (Lifetime Value of $59)
Feel secure with cell phone protection up to $600
No Social Security Number required for international students to apply
Chase Freedom® StudentVisa
Earn 1% in cash back for all of your purchases
Earn an annual $20 Good Standing Rewards bonus for 5 years when you keep your account in good standing
Earn a credit limit increase after making 5 monthly payments on time within 10 months from account opening when meeting credit criteria
Contactless pay and unlimited access to your monthly credit score
$50 Bonus earned after first purchase made within the first 3 months from account opening
Journey Student RewardsVisa
Earn 1% in cash back for all purchases
When balance is paid on time, cash back earnings rate increases to 1.25% for the month
Keep track of your credit score for free with CreditWise from Capital One®
$60 streaming subscription credit
Automatic credit reviews in as little as six months