Journey Student Rewards from Capital One review

Ideal for flat-rate cash back and study abroad

  • Rewards Rate: Unlimited 1% cashback on all purchases—increased to 1.25% for the month the card is paid for on time
  • Welcome Offer: Up to $60 in 12 Monthly Streaming Service Credits (Earn in the first 18 months)
  • Annual Fee: $0
  • Purchase Intro TAP: N/A
  • Balance Transfer Introductory TAP: N/A
  • Normal APR: 26.99% variable

A simple student card like Capital One’s Journey Student Rewards Card is a fantastic way to build a credit history and learn the rewards ropes if you’re new to credit.

Journey Student Rewards is a perfect starter card because it requires very little maintenance: it earns money back on all purchases, rewards good credit habits, and has no ongoing fees. Plus, its security benefits and no foreign transaction fees make it a great study abroad companion. However, other student credit cards have a lot more to offer once you get comfortable with the credit.

Current sign-up bonus

According to the Nielson Total Viewership Report for August 2020, there was a 75% increase in time spent watching streaming services among adults aged 18+ between April and June compared to the same period. last year. With such a huge increase in the way we consume media and news, Capital One’s new sign-up bonus could save students money on their favorite streaming services.

By paying your credit card statement on time each month, you may receive a $5 monthly credit for qualifying streaming services for up to 12 months. You can receive up to $60 in total credits just in your first 18 months as a new cardholder which can go towards 24 different services. These include popular video services like Netflix and Hulu, music services like Spotify and Amazon Music Unlimited, and several audiobook and sports streaming services.

Cashback

Journey Student Rewards earns a fixed pay-reward cashback, which means he earns the same rewards rate on all purchases. This can be especially useful for student expenses such as textbooks, technology, and student fees that aren’t typically covered by bonus rewards categories. Plus, you’ll earn rewards on every flight and sightseeing ticket if you plan to travel overseas.

Earn cashback

You’ll get a flat 1% cashback on all purchases, but it comes down to 1.25% if you pay your credit card bill on time. It works by adding 0.25% cashback on purchases in this billing cycle to your rewards balance if Capital One finds that your account is not overdue at the end of the billing period.

This is not the case. a bad rate of rewards, especially if you want simplicity. But you can get higher cashback rates if you are willing to accept bonus categories.

Cashback redemption

Like other cash-back credit cards, redeeming your rewards with the Journey Card is a simple process. You can request your cashback as a credit statement or cheque. Additional options include credits for previous purchases, gift cards, and “Amazon Shop with Points” purchases.

How much are the rewards worth?

The Journey card is cashback, so your rewards are worth 1 cent or 1.25 cents on the dollar, depending on your rate.

Capital One’s terms on other redemption options such as the Amazon Shop with Points state that the value of your reward may vary. However, Basic Cash Back is the most versatile choice and will always retain its full value.

Advantages

Journey Student Rewards has additional features that are standard for other Capital One credit cards, but these student benefits put Journey a cut above several other competitors if you’re looking for a little peace of mind while shopping. or your travels.

Credit card security

Besides basic account alerts and card locking, students worried about identity theft can feel a little safer with these features:

  • Capital One’s CreditWise: Cardholders can sign up for free to receive Experian and TransUnion credit report change alerts, as well as dark web scanning and social security number tracking. This intensive level of credit monitoring means Capital One will let you know if it finds your social security number and other sensitive data if it’s potentially compromised on the internet.
  • Virtual Credit Card Numbers: Capital One is one of the few issuers that still offers virtual credit card numbers. With the Capital One Eno browser extension, you can use randomly generated tokens instead of your credit card for online purchases for an extra layer of security. Eno will even keep track of the nicknames you give your virtual card numbers for each merchant.
  • Fraud Coverage: You’re covered with $0 fraud liability if your card is lost or stolen.
  • Emergency Card Services: If your credit card is lost or stolen, you can get an Emergency Card Replacement and Cash Advance, subject to available credit

Rates and Fees

If you prefer a low-maintenance credit card to get started, the Journey Student Reward Card doesn’t charge annual fees or foreign transaction fees. That way, there are no ongoing fees or additional overseas costs to worry about when earning money.

However, there are no APR introductory offers in case you need to accept big purchases ahead of school or moving house. Unfortunately, student credit cards typically come with high-interest rates and late fees, and the Journey Student card is no different. Having a balance means you could be hit with the ongoing variable APR of 26.99% and late fees of up to $40.

This APR is still very high compared to other top-notch student cards, depending on your creditworthiness. For example, the Discover it® Student Cash Back Card can charge anywhere between a variable APR of 12.99% and a variable APR of 21.99%.

On the good side, the APR of the Journey card will not change in case of no payment, because there is no APR penalty.

How Capital One’s Journey Student Rewards compares to other student cards

Overall, the Journey card offers substantial benefits over other cards, but the cashback rate and everyday convenience benefits leave a lot to be desired.

In terms of rewards, Discover credit cards for students offer so much more. The Discover it Student Cash Back card, for one, earns 5% cashback on rotating bonus categories each quarter you activate (up to $1500 in purchases, then 1%), and Discover matches all the cash back you earn at the end of your first year. Additionally, you will also receive a $20 credit on the “Good Grade Reward” statement if your GPA is 3.0 or higher for up to five years.

Other student cards offer perks that students might find more useful on a day-to-day basis. When you pay your cell phone bill and Amazon Prime Student membership with your Deserve® EDU Mastercard for Students, you’ll receive up to $600 in cell phone protection and your first year of Prime Student will be refunded (after spending $500 during your first three billing cycles).

The Journey card also doesn’t waive your early late fees or offer interest-free introductory periods — key student benefits that Discover and other issuers can extend. If you’re a first-time cardholder who wants a safety net when building credit, you might want to consider alternative cards like these.

Best Cards to Pair with Capital One’s Journey Student Rewards Card

Since the Journey Student Rewards Card is a flat-rate card with 1-1.25% cashback, other cashback cards with higher rewards rates on your favorite bonus categories can maximize your earnings.

The Discover it Student Cash Back can collect 5% cashback on purchases after activation (up to $1,500 per quarter of purchases, then 1%) that fall under rotating Discover categories each quarter, such as Amazon. com purchases (until December 2020).

If you prefer to have more consistent bonus categories, the Bank of America® Cash Rewards Credit Card for Students is perfect. It lets you choose one of six categories to earn 3% cashback on, which can be redeemed monthly. So if you’re buying furniture for a new apartment next month, you can shift your 3% category to renovation/upholstery. Remember that purchases in this card’s premium category and 2% purchases at grocery stores and wholesale clubs share a quarterly spending cap of $2,500 before reverting to 1% cashback.

Bankrate’s Take – Is Capital One’s Journey Student Rewards Card Worth It?

Capital One’s Journey Student Rewards Card is an attractive choice for new cardholders who want an easy-to-handle cash back card for any occasion.

Its features are aimed at giving you peace of mind when shopping or traveling, but the high permanent APR and protection benefits may make other student cards more valuable to some.

Advantages

  • No annual fees or foreign transaction fees
  • Unlimited 1% cashback increases to 1.25% after paying each billing cycle on time
  • Security protections will keep you and your account safe

Disadvantages

  • High continuous APR of 26.99% variable
  • The extra 0.25% Cash Back is not immediate but is instead added to your account based on purchases in that billing cycle
  • It lacks a variety of key “safety net” and student-facing features, such as waiving late fees, introducing interest-free periods, and cellphone protection

All information about the Bank of America®’s Cash Rewards Credit Card for Students has been independently collected by Bankrate and has not been reviewed or endorsed by the issuer.

 

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