Capital One Journey Credit Card Review 2014

Posted by CreditCardGuru

Is the Capital One® Journey℠ Student Rewards card a good choice?

capital one journey cardDespite all the changes regarding student credit cards resulting from the Credit Card Act several years ago, there are still a myriad of options available in this category and choosing the best one is no easy task. Here’s an honest review of the Journey Student Rewards credit card.

What are the requirements?

Since this card is designed for college students it is much easier to qualify for than a regular consumer credit card. The requirements are:

  • To apply you need to be at least 18 years of age and have a valid Social Security number.
  • If you are responsible for paying rent/mortgage, then your annual income must be greater than your annual rent/mortgage payments.
  • Approval is based upon satisfying Capital One’s credit standards.
  • Just like every other credit card company, Capital One does not publicly disclose the credit score requirements for a given card. So if you want that info, you’re not going to find it.

However, because this card is geared towards students with no credit history or very limited credit history, if you meet their basic qualifications then it’s worth giving the application a try.

What are the rewards?

The funny thing is that I hear from people of all ages who want to apply for the Journey card . Why do they want it so bad? Because the rewards program is a ridiculously good deal…

  • You get a full 1% cash back on all purchases.
  • Plus when you pay your bill on time, you get a 25% bonus on the cash back you earn each month.
  • There is no limit to how much you can earn.

When combined, it’s a total of 1.25% cash back on everything you buy! That is actually better than what most non-student cards will pay, so it’s quite generous. As long as your account is open and within good standing, you won’t lose your rewards because they never expire.

Best of all, redeeming your cash rewards is hassle-free. Here’s why:

  • You can redeem them at any time. There’s no minimum amount needed for redemption.
  • Redeem your cash rewards for a check, statement credit, or gift cards. You can even donate them to participating charities if you want.

What are the benefits?

Think the rewards are good? Then check out the benefits! This is where the Capital One Journey really distinguishes itself relative to other cards. Some of the benefits you won’t find elsewhere.

  • Free access to your monthly credit score – Through the Journey Credit Tracker (an exclusive website for cardholders) you get free access to your TransUnion credit score each month. This score is not a FICO, but it is based on your credit file from TransUnion (which is one of the big three credit bureaus).
  • Text and email alerts – To help you stay on top of your account, Capital One lets you setup text/email notifications for things like payments and balance info.
  • Track/manage your credit health – As you can probably guess from its name, the Journey Credit Tracker website allows you to track your credit over time and learn about the factors which are impacting your score.
  • Extended warranty program – This is an extremely valuable benefit, because it doubles the length of warranty coverage (up to a max of one additional year) on eligible items that come with a manufacturer’s warranty. For example if the original warranty was 1 year, this benefit provides 1 extra year of coverage. Items must have been paid for in full using your Capital One Journey Visa card.
  • 24-hour travel assistance services – You can get an emergency card replacement or cash advance if your card is lost or stolen.
  • Auto rental collision damage waiver – This is provided on eligible rentals which are paid for with the card. It covers damage due to collision or theft. This is secondary coverage, so it’s supplemental to any other forms of auto insurance you may have.
  • $100,000 in worldwide travel accident insurance – You get automatic coverage at no additional cost when you use your Journey credit card to purchase your ticket. It provides up to $100k of coverage in the event of death or dismemberment during qualifying Common Carrier travel.
  • $0 fraud liability – Now this one isn’t a special benefit because practically every credit card offers it. However I just want to mention it in this review if you are new to credit cards… so you can rest assured knowing that you won’t be held responsible for fraud, if lost or stolen.

What’s the interest rate?

Both purchases and balance transfers have a variable APR of 19.8%. Cash advances also have a variable APR of 19.8%. These are relatively high interest rates compared to non-student cards, but that’s to be expected on a student card since there is not much credit history to base your risk on. To avoid paying interest charges, make sure you pay off your statement balance in full before the due date. When you do that consistently you take the whole interest rate thing out of the picture.

Verdict?

With no annual fee and the ability to earn 1.25% in cash rewards, the Journey from Capital One is arguably the best student credit card on the market.

Go here to apply online at Capital One’s website

The pros and cons of student cards

A lot of people don’t like the idea of students and young adults having credit cards. But these critics miss the most important reason for having them… building a credit history. Credit cards are a bad idea if you’re going to use them irresponsibly to rack up debt that you can’t pay off while in school. However, if you manage them responsibly (such as paying your bill in full and on-time) they are a great way to build your credit. And, the sooner in life you begin doing this the better.

And why is that important? Well for starters, your creditworthiness can affect more than you might think. In some states, your credit score is factored into your auto insurance premiums (a bad score might cost you more). Also for some jobs in some states, an employer might consider your credit history during the hiring process.

Then of course there are loans. Having better credit will help you qualify for better rates on everything from car to student loans. And when you’re ready to buy your first home, the same holds true for mortgages.

Conclusion? Credit cards can be a double edged sword. As with anything in life, they can be either good or bad thing depending on how you use them. So use them the good way… pay your bill in full and on time each month. Earn rewards and build your credit in the process!


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Editorial Disclosure: The editorial content on this page is not provided by any bank, credit card issuer, airline or hotel chain, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author's alone, not those of the bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

13 comments... read them below or add your own

  1. Chris July 20, 2014 at 10:42AM

    I love my Journey credit card! I was approved for a $500 credit limit. The rewards are awesome.

  2. Kiwii Jackson June 24, 2014 at 12:28AM

    Never would have believed that I would have been Approved by them… Awesome News! Pay the Bills on Time!

  3. Arul June 16, 2014 at 8:14PM

    I am not a student, working in H1B Visa. I have bank account with BoA, which is not ready to offer me the credit card! (ready to offer some xyz card so I want fill some amount in that card before use) and I have applied for amazon store card 2 times but it was rejected so I was worried because I am working, getting salary but not eligible to getting credit card.

    Finally I have applied for capital one journey credit card and my request have been approved immediately with $300 limit (I am happy with this limit because trust is more important than $300 limit)

  4. George June 7, 2014 at 2:34PM

    I am 33yr old and I never had a credit card before, I saw the comercial on tv with the guy from “THE ADVENGERS” and i decided to apply and i got a $2,000 credit card.

  5. Mischka May 4, 2014 at 5:25PM

    I am 68 years old with an excellent credit history but had an Orbitz Platinum Card and get a note that they are going to switch me to a Journey Card I am reading this and it’s a student card? lol I accidentally hit the wrong Orbitz Card, apparently they had 2, when I applied and only got a limit of $750 but my credit is excellent. Is there anyone to call to find out if somehow maybe incorporate this amount in another card being it is only $750. It doesn’t hurt to have a low card because it’s good if you want to store it. No one can ever steal much off of it or won’t be able to steal it without getting caught in case they have some great aspirations.

  6. Kim March 12, 2014 at 7:50PM

    I’m only 23 and just moved out. I have always paid cash for everything so i have NO credit history whatsoever. After being denied for card after card probably because I have no credit history, I applied for the Journey Student card. I am not currently a student but figured I could have a better shot a being approved. I got instantly approved!!! Such a relief. Thank you Capital One for giving me a chance to start building a credit history.

  7. hey January 7, 2014 at 3:43PM

    I was offered one with O% interest until Oct. If I transfer the balance from another card to this one do I get the 0% interest til Oct still? or does that automatically go up to 22.9%? Or 19.8?

  8. Jeff August 17, 2013 at 2:40PM

    Applied and was approved for $500. This card will be perfect for my fuel costs while attending college! Better still… I can track my Transunion Credit Score each month for free on this card, then track my FICO Credit Score for free on my Walmart card. Woot!

  9. Isaiah March 26, 2013 at 12:56PM

    Being a college atudent and looking to move out on my own, I’ve been exploring the idea of getting a credit card for some time now. After ready a few articles and (sadly being denied for a different student card) I was approved for the capital one journey card and am looking forward to building my credit history slowly but surely!

  10. Matty December 19, 2012 at 2:48PM

    I can’t even believe it! Here I was at work tonight, whining about how I’d never get accepted for the retailer that I work for’s consumer credit card. Being a cashier, I see a lot of people get CC’s who don’t need them. Even with a blemish on my credit report, this is one of the only companies who have given me a chance! Applied for the credit card online because of this article and was approved minutes later for the minimum credit line.

    In other words, THANK YOU for the awesome advice on this awesome credit card, and helping me start a better credit history! :)

  11. Raja September 9, 2012 at 9:41PM

    Im a full time college student and part time work and have apartment, i was not sure about this credit card as first but i gave it a shot now im building up my credit and working hard to pay it off in full. i really think college students with a part-time job should give it a shot. i did and it’s working for me.

  12. Jess July 5, 2012 at 10:56AM

    I was so happy to be given the chance to build credit with this card. I am young, in college, working, and have a son. It is unbelievably hard to get anything without credit, I couldn’t even put my mattress on payments without out a cosigner, so I had to go four weeks with out a bed while I saved up the money to pay it in full. Now I am building up credit and can buy things on my own, like my car. :)

  13. Sarah April 25, 2012 at 6:00PM

    Im actually NOT a student, nor am I planning to enroll in college, but being a 21 year old who has never owned a credit card, I was told it was a good card to start learning with.

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