A credit card is a credit card is a credit card — until you take all those snazzy rewards into account. Rewards programs are more popular than ever, and credit card companies use them to differentiate their offerings. If you’ve seen a credit card commercial on television lately, they’re not talking about payoff plans or post-introductory interest rates; they’re painting...
|Reward Rate||1% cash back on all purchases|
|APR, Variable||19.8% variable APR|
|Cash Advance APR||24.9% variable APR|
Created to help students build credit with responsible use
Access to your monthly credit score, plus an interactive tracking tool to help monitor your credit
Free text and e-mail alerts help keep you on track
Get 1% cash back on all purchases, plus a 25% bonus for on-time payments
No annual fee
Plus, get a 25% bonus on the cash back you earn each month when you pay your bill on time
Earn unlimited cash back that doesn't expire
Get your cash back anytime as an account credit or check, even set up automatic redemptions
See card issuer's website for details about terms and conditions of offer.
- Straightforward 1.25% unlimited cash back on all purchases when account balance is paid on time
- Complementary monthly credit score monitoring
- Text and email reminder service
- No monthly fee
- No signup bonuses
- High penalty for late payments
The Simple Dollar’s Review
In the world of student credit cards, you can’t go wrong with the Journey℠ Student Rewards from Capital One® card. Like all Capital One cards, it offers a straightforward and appealing rewards program: 1% unlimited cash back on all purchases automatically credited back to your account; for making your payments on time, you’ll receive an additional 25% bonus on all of the cash-back you earn each month. So essentially, you’ll earn 1.25% cash-back on a monthly basis as long as your account is current and your bills get paid on time.
The card is excellent for students who have just begun building their credit profiles. You get free access to credit score tracking and analysis, so you can watch your score improve as you use your card responsibly. Many similar score monitoring services cost roughly $20 a month, so this is a very decent perk.
The most obvious downside to this credit card is the lack of signup bonuses. Many competitor cards offer a low or 0% interest rate for the first few month of card membership, and the possibility of earning bonus points or statement credits. This card offers neither. This isn’t necessarily a bad thing, though. The 0% intro APR often coaxes new card owners into building up a large balance, which they will end up paying for when the APR shoots up a few months later. In fact, this card is designed to help young college students manage their credit responsibly. While it has little in the way of frills, it’s straightforward cash-back program and perks that encourage financial responsibility make this card is a smart choice for college freshman.
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