Capital One Journey® Student Rewards Card Review: A Great Start for Students and Non-Students

Capital One Journey® Student Rewards Card

Full Review

Managing finances as a college student is rough, but the Capital One Journey® Student Rewards Card can help. Buying books, getting to class, doing homework, maintaining a social life, and participating in clubs can easily take up all of your time. Worrying about money and your credit score is the last thing that you want to do.

Thankfully, the Capital One Journey® Student Rewards Card makes it easy to build your credit, earn cash back, and reinforce good financial habits, all at the same time. A student credit cards are a great way to set yourself on the right path. Check out our full review to see if the Capital One Journey® Student Rewards Card is the right card for you.

Capital One Journey® Student Rewards Card Quick Review

Here are the highlights of the Capital One Journey® Student Rewards Card Credit Card:

Annual Fee: $0

APR: 26.99%

Sign-Up Bonus: $0

Benefits:

• 1% cash back on every purchase
• 25% cash-back bonus for on time payments (effective rate of 1.25%)
• Automatic credit limit increase after five payments
• Track your credit score with CreditWise
• No foreign transaction fees

Minimum Payment:

• If your balance is less than $25, then the full statement balance
• Otherwise, the greater of:
  • $25
  • 1% of the balance plus interest and fees

Other Fees:

• Up to $38 for late payments
• Up to $38 for returned payments

Why Apply for the Capital One Journey® Student Rewards Card

There are a few reasons to apply for the Capital One Journey® Student Rewards Card.

Easy approval to start building credit

Building your credit score is often a chicken-and-egg problem. You can’t improve your credit score without access to credit, but you can’t access credit until you have a good credit score. Students have the benefit of qualifying for student credit cards. This special type of credit card can help you build credit. The Capital One Journey® Student Rewards Card does that, along with offering incentives for timely payments. Once you make five on-time monthly payments, you’ll see your credit line automatically increase. You can also track your credit score progress with Capital One Credit Wise, a free service that comes with your card.

Earn a simple cash-back rate

Student credit cards rarely offer the perks and rewards you’ll find on normal credit cards. The Capital One Journey® Student Rewards Card breaks that mold, offering cash back to students while they build their credit. You’ll earn 1% cash back on every purchase, regardless of where you spend. If you pay your bill before its due date, Capital One boosts your earnings by 25%, too, giving the card an effective cash-back rate of 1.25%. That’s a great deal—especially on an entry-level credit card.

Non-students can apply

While most student credit cards require you to be enrolled in school to qualify, the Capital One Journey® Student Rewards Card doesn’t. Even non-students can apply, though the card does require you to have at least an average credit score.

Capital One Journey® Student Rewards Card: Drawbacks and Downsides

Here are some downsides of the Capital One Journey® Student Rewards Card.

Requires some form of credit score

The Capital One Journey® Student Rewards Card, unlike most student credit cards, lets non-students as well. Students and other people without much credit history are welcome to apply, but the card requires at least an average score to qualify. That means you’ll have trouble if you have no credit history at all.

Other cards earn better rewards

Many other credit cards on the market offer better rewards than the Capital One Journey® Student Rewards Card. The average flat-rate, cash-back card offers closer to 1.5% cash back on purchases, and some offer as much as 2% or more. If your goal is to maximize earnings, you’ll only want to use this card until you qualify for a card that offers more lucrative rewards; it isn’t one to stick with for the long term.

Capital One Journey® Student Rewards Card Alternatives

If you’re thinking about applying for the Capital One Journey® Student Rewards Card, consider these alternatives as well.

Discover it® Secured Card

If you want a card that’s open to non-students and easy to qualify for, check out the Discover it® Secured Card. You’ll need to provide a cash security deposit to qualify, but this card is available to people with poor or no credit. Best of all, it pays 1% cash back on every purchase. To sweeten the deal, Discover will double your cash back after the first year, giving the card an effective cash back rate of 2% for the first 12 months.

Discover it® Student Cash Back Card

If you want a student card that offers bonus rewards, the Discover it® Student Cash Back Card is the card for you. This card offers 5% cash back in bonus categories that change every three months, along with 1% cash back on all other purchases. Like the Discover it® Secured Card, the Discover it® Student Cash Back Card offers a cash-back match after the first year. In other words, you’ll earn 10% cash back in bonus categories for 12 months.

Capital One Journey® Student Rewards Card FAQs

Here are some other things to know about the Capital One Journey® Student Rewards Card.

Can anyone apply for a student credit card?

No, student credit cards aren’t typically available to everyone. Most student cards require you to be an enrolled student to be eligible. The Capital One Journey® Student Rewards Card differs in that non-students can apply, too.

How long does it take to get approved for a student credit card?

Applying for a credit card can be a stressful process. If you apply online, you might receive an instant decision. If you don’t, you should receive your decision in the mail in one to three weeks.

Bottom Line: Should You Apply for the Capital One Journey® Student Rewards Card?

The Capital One Journey® Student Rewards Card is a solid student card that offers a flat cash-back rate. While it doesn’t hold a ton of value for the long term, it’s a great starter rewards card. Use it judiciously, pay your bills on time, and eventually, you should qualify for a better card that’ll reap you better rewards.