Capital One Journey Credit Card Review
- October 22, 2018
- Posted by: Jeff Gitlen
- Category: Credit Cards
- 1% cash back on all purchases
- No annual fee
- No foreign transaction fee
- Cash Advance APR: 20.24%
- Additional 0.25% cash back after 5 on time credit payments
Young adults often make the mistake of neglecting good credit building practices throughout college which hampers their ability to make decisive moves such as moving into a new apartment. Luckily, credit card company Capital One provides an enticing credit card that is specifically tailored towards students.
With the Capital One Journey Student Credit Card in hand, college aged students can actively build credit while receiving cash rewards towards essential or recreational purchases. In 2017, the Capital One Journey Student Credit Card was included in our rankings of the best credit cards for college students in 2017.
Benefits and Rewards
Somewhat typical of a student geared credit card (yet no less appreciated), the Journey Student Card offers cash back benefits for everyday purchases at a rate of 1%. If the cardholding student pays each bill on time, this rate is bumped up to 1.25% which is applied to the month associated with the bill.
Capital One provides a simple way to monitor ones credit score through the program CreditWise which provides information regarding billing cycles, billing amount, and credit score. With the mindset of building good credit and timely payments, Capital One allows the advancement of credit line for any student that pays on time for five consecutive months.
There are several extra benefits that students can enjoy when using their Journey Student Card. One of the more important benefits is the fraud coverage. This benefit protects the precious funds of a college student in the event of a lost or stolen card which may prove crucial down the stretch of the semester. A way to monitor the account during events such as fraud is the personalized alert messaging system; the account alerts system sends either emails or texts that keep the cardholder up to date on account activity.
With the Capital One Student Credit Card, students have access to a 24-hour travel help service that covers emergency card replacements or cash advances during travel. There is a free manufacture warranty on qualifying products. Damage and loss coverage is provided on vehicle rentals. Travel accident insurance is provided in the case of a lost limb or two in an accident abroad.
Rates and Fees
Since this is a student card, the Journey Student Card does not require the payment of any annual fee which is an effective method for attracting students. If there is every a need to perform a cash advance, a transaction fee of either $10 or 3% is assessed to the cash advance amount; the deciding factor between those two rates is whichever value is greater. If the cardholder misses a payment one month, a late payment fee is applied which may run up to $35. There is no foreign transaction fee which may come in handy for a study abroad trip.
The regular annual percentage rate (APR) for the Journey Student credit card is a variable rate of 20.24% depending on the market; the regular APR applies for purchases as well as transfers. Interest will not be charged if a balance statement is paid within the 25 day period following a billing cycle. Similar to the regular APR, the cash advance APR is set at a variable 20.24% based off the market.
The Capital One Journey Student Credit Card is a decent deal for students looking to start on the road to a good credit score. Cash is always needed from a student perspective, so the cash back rewards are sure to come in clutch for any cardholder. The additional rewards for making responsible credit card payments is an good way to ensure that the next generation of credit builders learn the practice effectively.
Not satisfied? Check out some of the best Capital One credit cards that we have reviewed.