What You Need To Know About The Capital One Student Credit Card

What You Need To Know About The Capital One Student Credit Card
Eric Goldschein
on May 10, 2018
Read in 2 min

The Capital One student credit card, aka Journey Student Rewards card, is a low-maintenance card that students and non-registered students alike can use to build their credit, create good spending habits, and garner decent rewards.

Specifically, the Capital One student credit card is aimed at young people starting off with average-to-good credit.

If you’re looking to stack up travel rewards or need to max out your spending, look elsewhere.

In this 2018 review, we’ll take a look at what savings, rewards, and benefits this card offers the average consumer.

What is the Capital One student credit card?

The Journey Student Rewards card is something like a crash course in having a credit card.

If you’re a young person, you probably associate credit cards with debt.

This card is a good way to build your credit with responsible spending—but will punish you if don’t pay on time

The important numbers to know about the card

Every credit card has fees and rates associated with it that you need to keep in mind over the life of your time using it.

  • $0 annual fee
  • 1 percent cash back on all purchases
  • 0.25 percent cash back boost for on-time payments
  • APR (annual percentage rate): Variable 19.99% – 26.99%
  • Late payment fee up to $38
  • No foreign transactions fees—great for study abroad.   

What are the pros of this card?

The basics of this card are all solid: With no annual fee and 1 point back on all purchases, smart spenders don’t have to rack up much more than what they owe for their purchases each month.

The card starts off with a $300 credit limit.

You can boost that limit through the Capital One Credit Steps program by paying your bill on time five months consecutively

Not only will that allow you to spend more, if you need to, but it will lower your credit utilization rate if you maintain your same spending levels—a boost to your credit score.  

What are the cons of this card?

This credit card has a relatively high interest rate. If you don’t pay your bills off each month, that APR will end up costing you, wiping out any cash back benefits you may have accumulated.

And that’s without factoring in the late fee payments you’ll need to make.

Also, regardless of whether or not you’re a student, you’ll need a demonstrated income (or the income of a co-signer like a parents) to prove you can pay off your debts.

Is this the best student credit card to get?

The Journey card performs well vs. other cards in this other class, though competitors like Discover and Citi have student-focused credit cards that boast higher rewards and bonuses.

The bottom line

If you’re a student, a young person, or just someone trying to get your score up, this is a good option.

The rewards are decent, and as long as you pay your debt every month, you’ll be on your way to building a score good enough for a better card.

Eric Goldschein Finance Journalist

Eric Goldschein is a freelance journalist who covers entrepreneurship, small business trends, emerging technologies, culture and sports.

He was previously the managing editor of SportsGrid.com, and has written for Business Insider, Trep Life, the Huffington Post, Fundera and more.

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