Journey Student Rewards from Capital One review
Journey Student Rewards from Capital One
CardRatings Editor's Analysis: Pros & Cons
- Earn a bonus on the cash back you earn each month you pay on time
- Earn cash back with no annual fee or foreign transaction fees
- Potential to access a higher credit line in as little as six months.
- Students who plan to carry a balance may want to consider a card with a lower APR. You can avoid this by paying your balance in full each month.
TABLE OF CONTENTS
- Journey Student Rewards from Capital One Benefits
- How to Earn with Journey Student Rewards from Capital One
- Journey Student Rewards from Capital One Credit Card Limit
- Journey Student Rewards from Capital One Cardholder Scores
- How the Journey Student Rewards from Capital One Compares to Other Cards
- Is the Journey Student Rewards from Capital One Credit Card a Good Card for Students?
Parents, legislators and consumer advocates have debated the merits of student credit cards, especially after allegations of questionable marketing practices on college campuses. That's why it's great to see how Capital One has promoted its Journey Student Rewards from Capital One credit card as a tool for young Americans to build good financial habits with responsible use. This credit card for students with limited, fair or average credit uses Capital One's features and benefits as incentives to reward responsible saving and spending.
According to research conducted by Auriemma Consulting Group, consumers born after the 1980s tend to rely more on checking account debit cards and on prepaid debit cards instead of on credit cards for daily purchases. They tend to manage money well, but may be missing out on some of the biggest benefits of using credit cards. Journey Student Rewards from Capital One offers MasterCard benefits that include:
- $0 fraud liability if your card is ever lost or stolen. Stolen or lost debit cards can put your cash at risk, at least for a little while.
- Travel assistance services. Studying abroad and setting out on spring break become safer and simpler with help from a 24-hour response team that can dispatch replacement credit cards and cash advances.
Like other Capital One credit cards, Journey Student Rewards doesn't charge fees for foreign transactions for international purchases making it an ideal travel companion for quick overseas trips or extended stays abroad.
- 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).
- Earn 1% Cash Back on all purchases with your Deserve EDU Mastercard. Once approved, you'll automatically start earning cash back on all purchases.
- Feel secure with cell phone protection up to $600.
- No deposit required. No annual fees.
- No international transaction fees on purchases abroad so you can travel with confidence.
- No Social Security Number required for international students to apply.
- Refer A Friend Program: Refer anyone to Deserve using your personal referral code. Upon approval, card activation and use, you'll receive $30 and so will your referral. Referral bonuses are unlimited!
- Manage and track your spending, set automatic payments and securely freeze your card all through one easy to use app.
- See if you prequalify with no impact to your credit score in minutes.
- Deserve Mastercards are issued by Celtic Bank, Member FDIC.
- Enjoy Mastercard Platinum Benefits intended to make your life easier like Mastercard ID Theft Prevention™ and Master Rental®.
Even with a strong slate of premium features, Journey Student Rewards really shines by connecting cash back rebates to responsible credit card use. In addition to the 1% cash back common among many of today's best cash-back rewards cards, Journey Student Rewards will boost your cash back to a total of 1.25% each month for cardholders who pay their bills on time.
Your credit limit is determined by your creditworthiness and other factors. The good news is that this card offers automatic credit line reviews so you might qualify for an increase in as little as six months. So, if you get your credit card and it happens to have a lower limit than you expect, use your card responsibly and you could be eligible for a credit limit increase in no time.
|2020 Scores||2019 Scores|
|Rewards Program Satisfaction||7.9||7.9|
|Likelihood of Continuing to Use||8.4||8.4|
|Recommend to a Friend/Colleague||8.1||8.2|
Journey Student Rewards from Capital One vs. Citi Rewards+® Student Card
(This card is not currently available on CardRatings)
The Citi Rewards+ Student Card (Citi is a CardRatings advertiser.) is also a great card for students who are just starting out with credit. This card, however, offers slightly more. First, new cardholders earn 2,500 ThankYou® Points after you spend $500 within the first three months of opening an account. It also offers a 0% intro APR for seven months on purchases. (Then, 14.49% - 24.49% (Variable).)
You also earn two points per $1 spent at supermarkets and gas stations up to $6,000 per year, and one point per $1 spent on all other purchases. For students, these might be the categories you end up spending the most on.
You do, however, need a "good" credit score to qualify, which might be a little difficult when you're first starting out. If this is the case, you might want to start out with one of the other cards that only require a "fair" credit rating until you build your credit.
Journey Student Rewards from Capital One vs. Discover it® Student Cash Back
If you're a student with fair to limited credit, you might consider the Discover it® Student Cash Back for building your credit. This card also awards one of the highest rewards rates for student cards. You'll earn 5% cash back each quarter in rotating categories such as gas, restaurants and online shopping on up to $1,500 spent each quarter (quarterly activation required), and 1% cash back on all other purchases.
Plus, Discover will match the cash back you earn at the end of your first year. If you get good grades, you can also get a $20 statement credit each school year your GPA is 3.0 or higher up to five years. With the opportunities to earn cash back on your spending and the bonus for good grades, you could end up racking up a good amount. This could be considerably more than you might earn with the Journey card.
Journey Student Rewards from Capital One vs. Capital One Platinum
The Capital One Platinum Credit Card is another card designed for those who are just starting out and don't have much credit. If you have fair or limited credit, you may qualify for this card, and through responsible card management, you'll be on your way to earning better credit. However, this card has no rewards program or special bonuses, so you won't earn anything extra using your card.
If you want to earn a little more with your purchases, you might be better off with the Journey card where you can earn as much as 1.25% cash back, when you make your payments on time.
So, should you try out the Journey Student Rewards from Capital One? You won't really be able to switch to Journey Student Rewards unless you're a student. This card is designed for students who are just starting out and might not have much of a credit score. For that reason, you can expect a fairly high APR, so it's important to make sure you pay off the balance each month.
Otherwise, if you're looking for a card to build your credit with, the Journey Student Rewards from Capital One is one of the best cash-back credit cards for students you'll find.
Survey Methodology: CardRatings commissioned Op4G in September and October 2020 to conduct surveys among 1,746 cardholders nationwide. CardRatings website analytics from Jan. 1, 2020-Aug. 31, 2020 were used to determine a selection of the most popular cards and additional cards were added to add survey breadth. Responses to each of nine questions were given on a scale of 1-10 and respondents' scores were then averaged under broad topics. To determine the overall score, responses from questions 1-8 were summed and the answer to "How likely are you to recommend this card to a friend, coworker or family member?" was double weighted.