The Capital One Journey Student Credit Card is a credit card that is ideal for those with an average credit score and minimal credit history. There is no annual fee and a few factors that make this an easy first or second credit card during your years as a student. There are, however, nearly just as many drawbacks when it comes to holding and transferring balances or being rewarded for your transactions.
The Journey Student Credit Card is not the best card for any particular person. While it doesn't require a high credit score to get, there are better credit cards available in this range when it comes to rewards, lower APR, and other features.
The ideal customer for the Capital One Journey Student Credit Card would be someone that is over 21, has a low income, doesn't hold a balance on any credit cards, and needs a card for everyday cashback – which is why getmyoffer.capitalone.com invitations are sent for this card tpo this particular demographic. This could also be a good second card for students to have if they would like to increase their overall credit limit to boost their future credit scores as there is no annual fee for most applicants.
For those with a few credit cards already, the Capital One Journey Student Credit Card may be worth skipping. Further, once you are no longer a student the options for how this card can transition to another are very limited and, depending on what you already have, may result in an overall reduction in your options.
The APR for all transaction types is a variable rate. This means that you have the Prime rate and a margin. With the Capital One Journey Student Credit Card, that margin is subject to change without much notice but any change will only apply to new transactions and not to any balance you have on the card prior to that change.
At present, balance transfers, cash advances, and purchases all have an APR of 26.99% and will increase or decrease in step. There is a 25 day grace period. However, interest is still calculated from the initial transaction date and will be applied to your account if your balance is not paid-in-full by the due date you are given.
There is no maximum stated credit line ceiling. However, as a student credit card, the Capital One Journey Student Credit Card is likely to have a lower limit than a non-student credit card. The minimum credit line offered to all approved applicants is $300. That's considerably less than many student credit cards with the same or very similar requirements.
- Annual Fee – There is no annual fee for most applicants. However, some applicants may be offered different terms if their credit scores or other criteria fall just outside of the acceptable range.
- Cash Advance Fee – The cash advance fee for the Capital One Journey Student Credit Card is
- Foreign Transaction Fee – One of the main perks of the Capital One Journey Student Credit Card is a complete lack of foreign transaction fees.
- Late Payment Fee – The late payment fee for the Capital One Journey Student Credit Card is up to $39.
- Return Payment Fee - The returned payment fee for the Capital One Journey Student Credit Card is up to $39 and may not include checks that have not been cashed.
- Authorized User Fees – There is no fee to add an authorized user to the Capital One Journey Student Credit Card.
- Balance Transfer Fee – There is no balance transfer fee. However, interest is, at the base level, very high already and most transfers to this card from a similar card will not be worth it. This is especially true given the low initial credit limit.
The Capital One Journey Student Credit Card has a very basic rewards system, which is clearly outlined in getmyoffer.capitalone.com offers for college students. All qualifying transactions will earn 1% cash back. There is no cap and no minimum needed to redeem your cash back for a statement credit or a direct deposit for most account holders. There are no bonus offers or rotating categories.
Pros – Advantages of the Journey Student Credit Card
- 6 Month Credit Line Reviews -For those with a relatively-blank credit report or that need to do a little damage control, automatic credit line reviews can help boost your credit score a little over time with each automated approval.
- No Foreign Transaction Fees – Whether you're shopping online or traveling abroad, the lack of foreign transaction fees can save you both money and hassle.
- No Balance Transfer Fee – Though not particularly useful given the low initial credit line and high APR, this is a unique and positive feature worth mentioning.
- Great Customer Service and Credit Management Tools -
- No Annual Fee – The lack of an annual fee or any sort of mandatory maintenance or account setup fee is a large incentive to pick up the Capital One Journey Student Credit Card just to improve your available credit.
Cons – Disadvantages of the Journey Student Credit Card
- Low Initial Credit Limit – The minimum credit limit for all accounts is $300.
- High APR – All APR will vary with the prime rate and may change with minimal notice. APR for transactions and balance transfers is rarely as high as it is for cash advances or over 20% for all cardmembers. This is likely a way to help finance the lack of a balance transfer fee.
There are, at the time of this writing, no bonuses for new cardmembers with the Capital One Journey Student Credit Card. Historically, there have been small bonuses for some mailed advertisements, but they're not worth waiting for or putting in the time and effort to get for most applicants. The Capital One Journey Student Credit Card is one of those cards that most people don't aspire to have but that it doesn't hurt to have. This is a marginally-better-than-average credit card and a decent student-version credit card. APR is high but there is no annual fee or foreign transaction fee. The initial credit line is low, but you are eligible for automated increases every six months.