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 earth of credit score usually face a reasonably 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 most of the charges related to different scholar bank cards. (See additionally: Greatest Credit score Playing cards for School College students)
In case you are a school scholar the Journey Card could also be a terrific card to start out your credit score journey.
How This Card Works
Get 1% money again on all purchases made with the cardboard, plus a further .25% money again each month that you simply pay on time. You possibly can earn a limiteless quantity of rewards which don’t expire except the account is closed.
You possibly can redeem your money again as both a press release credit score or test at $25. Capital One additionally offers the choice to arrange automated redemption so that you simply obtain your money again at intervals or thresholds that you simply decide. For instance, you possibly can arrange your automated redemption at $25 or $50 intervals or on sure dates every calendar 12 months. You may also redeem for reward playing cards which can be found for as little as $20.
Different Advantages
Credit score line improve. When you make your first 5 month-to-month fee on time, it’s possible you’ll be eligible by Credit score Steps, to obtain a credit score line improve.
Execs
Common credit score is okay. College students usually discover approval for bank cards troublesome. The Journey Card is designed for college kids who’ve "common" credit score scores and aren’t capable of get permitted from different card issuers. This not solely lets you set up your credit score, but in addition carry a bank card for emergency purchases that may earn money again.
No charges. This card offers a chance to earn money again with out worrying whether or not you earn sufficient to pay for the cardboard, plus you possibly can switch a stability from a card with a better APR with out paying the standard price of three%.
No buy classes. Some playing cards award additional cash again however solely while you use your card for purchases in sure classes. Purchases made exterior of these classes usually earn 1% money again. The Journey Card lets you earn a flat fee of 1% on all purchases made with the cardboard, plus you possibly can earn a further .25% only for making your fee on time every month.
No overseas transaction price. Some bank cards carry a overseas transaction price of as a lot as 3%. This generally is a appreciable price when you use your card for touring overseas or making overseas purchases. Top-of-the-line options of Capital One bank cards is that there isn’t a overseas transaction price 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. When you pay your stability in full every month you possibly can keep away from paying curiosity in your purchases. Nevertheless, when 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 Greatest 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. When you continuously journey overseas, the cardboard can also be excellent as a result of it is among the few scholar bank cards which doesn’t cost a overseas transaction price.
