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Capital One Journey Student Rewards Credit Card Review

A new cash-back rewards card for students, with no annual fee.

About.com Rating 4 Star Rating

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Capital One has replaced its previous student credit cards with this one. It's a big improvement over the old ones.

Who the Capital One Journey Student Rewards Credit Card Is For

  • College students and young adults.

Credit Rating Required

  • Fair and up (660+).

About the Capital One Journey Student Rewards Credit Card

Pros

  • No annual fee.
  • Good, simple rewards package.
  • Rewards bonus for good credit behavior.
  • No balance transfer fee.

Cons

  • Relatively high APR.

Rewards

  • 1% cash back on all purchases.
  • 0.25% bonus reward for paying on time.

APRs

  • 19.8%.

Fees

  • No annual fee.
  • Balance transfer fee: none.
  • Late payment fee: Up to $35.
  • Returned payment fee: Up to $35.
  • Over limit fee: None.

Capital One Journey Student Rewards Credit Card Review

Capital One used to have five different credit cards aimed at college students and young adults. Now it's down to two. We're glad it made the changes. Its other cards were either too high-priced, lacked good rewards, or were too complicated, or a combination of all three. Two of them made our list of the Worst Student Credit Cards. But the new Journey card might be one of the best.

The Journey card most closely resembles the old Capital One Student Rewards Visa Card except for one big difference: The APR was reduced from a hefty 24.9% to a more competitive 19.8%.

The rewards package is both simple and generous: 1% on all spending, plus a 0.25% bonus each month you pay your bill on time. So, all in, you get a cash-back rebate of 1.25%, which is very competitive with most other cash-back cards, not just student cards.

Cash-back redemptions start at $25, payable by check or a credit to your account. You can also redeem your rewards for gift cards starting at $20. Rewards don't expire and there's no limit on how many you can earn.

Perhaps best of all, there's no annual fee. There are no balance transfer fees, either, although the APR is too high to consider transferring a balance.

Recommendation

This card is a big improvement over Capital One's previous student cards. Instead of having some of the worst cards in the category, it has one of the best. I highly recommend it.

Capital One's MTV Visa Card is still available. But it did get rid of its Secured MasterCard for Young Adults. If you're interested in a secured card, the bank recently revised its Secured MasterCard Credit Card. Some of the changes are good, some not so good.

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