![]() In addition, cardholders can text for answers 24/7 through Capital One's Eno "intelligent assistant" service.Ĭapital One credit cards come with a slew of security features. The Capital One customer service call center is available 24/7 at 80. In comparison, the Discover it Student Cash Back card offers cardholders the more widely used FICO credit score. It will also notify you if someone might be misusing your Social Security number based on information from Experian, another of the three major bureaus. All Capital One cardholders (and even non-customers) can get access to CreditWise, which provides free VantageScore 3.0 credit scores and credit fraud monitoring.ĬreditWise monitors your report at TransUnion, one of the three major national credit bureaus, and alerts you to any significant changes, such as accounts that have been reported as delinquent. Capital One earned 812 out of 1,000 points, above the industry average of 814. After your first six months of on-time payments, your credit limit could increase, which would allow you to put more purchases on your card without exceeding that 30% guideline.Ĭapital One ranked fifth out of 11 in J.D. Doing so will help you build a good credit score because your credit utilization ratio-a measure of how much of the credit you have available to you that you're using at any given time-is one of the key factors that credit bureaus use to determine your score. Remember to always keep your balances below 30% of your credit limit, and ideally even lower than that. And if you're like most students, every little bit helps. The 0.25% bonus in cash back that you'll receive each month your payments are on time could easily add $20 to $30 in cash back over the course of a year without requiring excessive spending. The best way to both maximize your rewards and build good credit is to be sure you make all your payments on time. For instance, you could decide to get a statement credit after you earn $25, $50, or whatever amount you've earned in six months. An interesting feature is the flexibility to set up thresholds for reward redemptions. You can redeem your rewards for either a statement credit or a check. All purchases are eligible for 1% cash back. You’ll earn an extra 0.25% in cash back on top of the regular 1% for every month you make your payment on time. The Journey Student Rewards from Capital One excels at incentivizing good credit habits, a novel approach in this market segment. Cards like the Discover it Student Cash Back card are better in that regard.īecause there is a wide range of cards featuring cash back offers for students, if rewards are important to you, it’s a good idea to compare several cards and determine which one best matches your personal spending patterns. It’s not for students who want to earn extra cash back in bonus categories such as groceries or gas. ![]() It also offers strong security features and easy ways to increase the credit line and build good credit. The Journey Student Rewards from Capital One is an excellent option for college students looking for a basic cash back rewards card from a major issuer. As with most credit cards, particularly those with high APRs, it's best to pay the balance off in full each month and avoid interest charges altogether. Card issuers seek to offset the historically higher losses they experience with cardholders who have little or no credit history by charging them higher interest, which tends to be a common if unwelcome, feature. High APR: The annual percentage rate (APR) on this card, as with many student cards, is high by consumer card standards.Cash back earnings are capped at 1% regardless of category, although there is a 0.25% bonus each month for making on-time payments, meaning you'll most likely earn 1.25%. No bonus categories: There are no special spending categories, such as gas or groceries, that earn extra cash back rewards.Getting an automatic credit limit increase after the first six on-time payments is a nice feature. Quick credit limit increases: Student credit cards are designed to be the first step in building credit.Even better is the bonus for making on-time payments. Cash back offer on a student card: While not completely unusual, getting cash back on a student card is a decided plus.No foreign transaction fee: Without a foreign transaction fee, this is a perfect credit card to take on an international spring break vacation, a semester abroad, or a cross-border road trip.No annual fee: Having no annual fee eliminates the need to calculate whether the cash back you’ll receive will justify the fee.
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