Begin Off Your Credit score Historical past Proper with Journey Scholar Rewards from Capital One
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School college students beginning out on the planet of credit score usually face a fairly substantial roadblock: no credit score historical past to determine a credit score historical past. Playing cards just like the Journey® Scholar Rewards from Capital One® supply college students the chance to get a foot within the door, with out paying lots of the charges related to different scholar bank cards. (See additionally: Finest Credit score Playing cards for School College students)
In case you are a university scholar the Journey Card could also be an awesome card to start out your credit score journey.
How This Card Works
Get 1% money again on all purchases made with the cardboard, plus an extra .25% money again each month that you just pay on time. You possibly can earn a vast quantity of rewards which don’t expire until the account is closed.
You possibly can redeem your money again as both a press release credit score or verify at $25. Capital One additionally gives the choice to arrange automated redemption so that you just obtain your money again at intervals or thresholds that you just decide. For instance, you’ll be able to arrange your automated redemption at $25 or $50 intervals or on sure dates every calendar yr. You may as well redeem for present playing cards which can be found for as little as $20.
Different Advantages
Credit score line enhance. Should you make your first 5 month-to-month fee on time, it’s possible you’ll be eligible via Credit score Steps, to obtain a credit score line enhance.
Professionals
Common credit score is okay. College students usually discover approval for bank cards troublesome. The Journey Card is designed for college students who’ve "common" credit score rankings and are usually not capable of get accepted from different card issuers. This not solely permits you to set up your credit score, but in addition carry a bank card for emergency purchases that may earn money again.
No charges. This card gives a possibility to earn money again with out worrying whether or not you earn sufficient to pay for the cardboard, plus you’ll be able to switch a stability from a card with the next APR with out paying the standard charge of three%.
No buy classes. Some playing cards award additional cash again however solely once you use your card for purchases in sure classes. Purchases made outdoors of these classes usually earn 1% money again. The Journey Card permits you to earn a flat fee of 1% on all purchases made with the cardboard, plus you’ll be able to earn an extra .25% only for making your fee on time every month.
No international transaction charge. Some bank cards carry a international transaction charge of as a lot as 3%. This could be a appreciable charge in the event you use your card for touring overseas or making international purchases. The most effective options of Capital One bank cards is that there isn’t a international transaction charge in any respect.
Cons
Excessive APR. The variable APR is among the many highest APR charged by most, if not all, different scholar bank cards. Should you pay your stability in full every month you’ll be able to keep away from paying curiosity in your purchases. Nonetheless, in the event you carry a stability from month to month, it’s best to as a substitute go for scholar playing cards with decrease APRs.
Who This Card Is Finest For
The Journey Scholar Rewards card is greatest for faculty college students who’ve common credit score and are diligent in paying balances in full every month. Additionally it is greatest for these whose purchases range from month to month due to the flat fee of rewards you earn from all purchases made with the cardboard. Should you often journey overseas, the cardboard can be best as a result of it is without doubt one of the few scholar bank cards which doesn’t cost a international transaction charge.
