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November 5, 2015

Student Credit Cards

Journey℠ Student Rewards from Capital One® Review

Offering 1% cash back on all purchases, the Journey℠ Student Rewards card is designed for college students with limited or average credit. Text and email alerts can help you stay on top of your account, but no introductory interest rates may make this card more expensive in the short run.

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The Good

Text and email alerts

With Journey℠ Student Rewards from Capital One®, you have the option to receive text message and email alerts concerning your account. As a college student, getting accustomed to the hectic pace can take some time. Between writing papers and studying for tests, it's understandable that an occasional payment due date might slip past you. The email and text alerts sent by Capital One® can make sure that you stay on top of your account and avoid any unnecessary late fees.

Access to monthly credit score

As a Journey℠ Student Rewards from Capital One® cardholder, you will have access to your monthly credit score. College students are often just beginning to establish credit and having access to credit score tools can be a great way to get a better understanding of how credit scores work. With this knowledge, you can make better-informed decisions and continue to successfully build your credit.

Cash back bonus

The Journey℠ Student Rewards from Capital One® comes with a 25% cash back bonus when a payment on your account is made on time. Budgets for college students are almost always tight, and having a little extra cash back is always appreciated. This cash back bonus is in addition to the 1% cash back earned for every purchase that you make. Purchasing those textbooks is still going to hurt financially, but at least now you know some money will be coming back.

Anytime access to cash back

Not all student rewards cards will give you the autonomy to get your cash back whenever you want. With Journey℠ Student Rewards from Capital One®, you have the ability to request your cash back at any time and receive an account credit or a check. You can even set up redemptions to occur automatically so you don't have to worry about it. Knowing that a little extra cash is available can be useful during those times when the budget gets extra tight.

Competitive balance transfer fees

If you have an existing credit balance, having the ability to transfer funds to a new card can have financial benefits. The Journey℠ Student Rewards from Capital One® has a variety of transfer features that making transferring money to the new card easy. You can transfer money from an existing credit card, or from a personal, student, or auto loan. Although there is no introductory interest rate, there are no fees associated with the transfer, and the transfer interest rate is fairly competitive.

The Bad

No introductory interest rate

Many competitor college student credit cards offer a discounted introductory interest rate. There are multiple cards that offer a 0% interest rate that extends for several months. Having a low introductory rate allows you to make necessary purchases while providing time to pay off your balance. Although the standard interest rate offered by the Journey℠ Student Rewards from Capital One® is generally competitive, having an introductory rate would be a superior option.

Cash back rewards can expire

Similar to other student credit cards in the industry, your cash rewards can potentially be lost. If you close your account, you will lose any points that you have not redeemed. In addition, points can be lost if you are delinquent on your account. To make sure you have no problems redeeming your cash rewards, make sure your account is active and in good standing.

The Details

Rates and Fees

  • Annual Fee: $0
  • Cash Advance Fee: $10 or 5% per cash advance
  • Cash Advance Rate (APR): 24.9%
  • Foreign Currency Transaction Fee: None
  • Introductory Rate (APR): None
  • Standard Rate (APR): 19.8%

Penalty Fees

  • Default Penalty Rate (APR): 29.4%
  • Late Payment Fee: $0 first time you pay late, up to $35 thereafter
  • Minimum Interest Charge: $0.50
  • Over-Limit Fee: None
  • Returned Payment Fee: Up to $35

Balance Transfers

  • Introductory Balance Transfer Rate (APR): None
  • Standard Balance Transfer Fee: None
  • Standard Balance Transfer Rate (APR): 19.8%


  • Additional Rewards for Dining: None
  • Additional Rewards for Gas: None
  • Additional Rewards for Groceries: None
  • Additional Rewards for Shopping: None
  • Additional Rewards for Travel: None
  • Bonus Points Offered: 25% on the cash back earned each month when bill is paid on time
  • Rewards Earnings for All Purchases: 1% cash back
  • Sign-Up Bonus: None
  • Type of Reward: Cash back

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