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If you’re a beginner in the world of credit, looking to repair your credit score, or are new to the US, here’s a credit card just for you!
The Journey® Student Rewards from Capital One® is for folks with average credit. And it’s a much better option than using a debit card, like some tend to do when their credit is less than perfect. Because it will help you to qualify for better cards later!
However, if you already have good credit, this is NOT the card for you. I’ll explain!
I’ll tell you what you need to know about the Capital One Journey Student card.
Capital One Journey Student Credit Card Review
Link: Visa Platinum Benefits
The first credit card I ever opened was a starter card from Capital One. The card wasn’t anywhere close to the best available, but it helped me to build my credit for better cards! I later upgraded it to a Capital One Venture.
Similar to my first Capital One card, the Capital One Journey Student card is for folks with average credit. And you do NOT have to be a student to open this card.
According to Capital One, average credit means folks who have either defaulted on a loan in the past 5 years or have limited credit history (meaning you’ve had your own credit card or other credit for less than 3 years, including students, new US residents, or authorized users on someone else’s credit card.)
Here’s what you’ll get with the Capital One Journey Student card:
- 1% cash back on all purchases
- Extra 0.25% for paying bills on time
- Travel accident insurance – Insurance for death or dismemberment at no extra charge when you purchase airfare using your card
- Auto rental insurance – Secondary collision and theft insurance for you and all additional drivers on your agreement
- Extended warranty – Additional warranty protection when you purchase items your card
- NO foreign transaction fees
- NO annual fee
You can check out more benefits here.
So this card will give you 25% more earnings for paying your bills on time. That’s a nice feature, and a great way to incentivize folks to be responsible with their credit card.
I also really like that this card waives foreign transaction fees. That’s probably why the card is branded with the word “journey” (because you can take it abroad!). So this is a good card for students who take international trips.
Waived foreign transaction fees used to be a rare feature for a card with no annual fee. But it’s becoming more common, which is great news!
Make sure to read my post on why everyone should have a no annual fee card.
Is This Card a Good Deal?
Any miles & points enthusiast will tell you this is NOT a good card for Big Travel with Small Money. There are plenty of no-annual-fee cards which earn more, and it doesn’t even come with a sign-up bonus!
However, if you’re still establishing credit, this is an excellent card for you. That’s because it’s easier to be approved for! And a good card to help you build your credit.
As long as you use your credit card responsibly by paying your bills on time and in full, your credit score will increase.
That said, if you already have a good credit score and are just beginning your miles & points journey, this is NOT a good card for you.
That’s because there are other much more valuable credit cards with big welcome bonuses, improved travel benefits, and higher returns for spending. Applying for this card first can decrease your chances of being approved for those other cards later.
Note: Capital One pulls your credit score from all 3 main credit bureaus, giving you 3 hard inquiries on your report. Hard inquiries cause your credit score to temporarily dip. And too many hard inquiries can make it harder to be approved for future credit cards and other loans.
The Capital One Journey Student card is marketed towards students, but it’s for many more folks, as well!
If you need a card to strengthen your credit, the Capital One Journey Student could be a great option for you. It’s for folks with average credit, so it’s relatively easy to be approved for. And it will help you qualify for better travel cards down the road!
However, do NOT apply for this card if you already have above average credit. Because opening this card might prevent you from opening up certain credit cards that are much more rewarding.
Would you recommend the Capital One Journey Student to someone just starting out in the credit world?