Even so, the travel category is fairly broad and shouldn’t be too onerous if you go home a couple of times a year. The only condition with the Bank of America Travel Rewards for Students card requires redemptions on travel-related expenses in order to get the best value for your points, while the Capital One Journey Student card doesn’t require cash-back redemptions to be made toward travel purchases. The Bank of America Travel Rewards for Students offers students a decent card all around, even being so thoughtful as to throw in a welcome bonus: 25,000 online bonus points after spending $1,000 in purchases in the first 90 days of account opening. Neither card has an annual fee or foreign transaction fees. With an introductory APR offer and an unlimited 1.5 points per dollar on all purchases everywhere, every time with no expiration on points, the Bank of America® Travel Rewards credit card for Students can teach the Capital One Journey Student a lesson or two. Bank of America® Travel Rewards credit card for Students Journey Student Rewards from Capital One * vs. If a payment is missed and only 1% cash back is earned, annual rewards earned will be only $136.40. At a rate of 1.25% on typical annual expenses of $13,640, the average college student could expect to earn $170.50 cash back with the Capital One Journey Credit Card. The Capital One Journey offers an effective 1.25% cash back rate if you make on time payments each month-which everyone (students and non-students alike) should strive for. In order to determine the rewards potential of the Capital One Journey Credit Card, Forbes Advisor used a number of government and other reputable sources to determine what the typical college student spends in a year. You can also redeem your rewards for travel through. Redemptions can be automated at a specific threshold starting at $25 or on an annual schedule. Rewards may be redeemed as statement credits or checks. Redemptions can also be automatically at a set time each year. Reward redemptions with the Capital One Journey require meeting a minimum rewards redemption threshold. Rewards expire with account closure, but otherwise have no expiration date. Earn 5% cash back on hotels and rental cars booked through Capital One Travel and credited within two billing cycles. On time payments boost cash back to a total of 1.25% for that month. The card earns cash-back rewards of an unlimited 1% cash back on all purchases. That being said, sometimes circumstances aren’t ideal. Credit cards have incredibly high interest rates overall and whenever possible consumers should never allow a balance to accrue interest. Sure, no credit history might justify not-as-good perks, but to sum up the collective emotional response of an entire college-bound generation: “sigh.”įor the record: We never recommend allowing a credit card to accrue interest. The Journey Student Rewards card’s benefits package offers a watered-down likeness of those that come with Capital One’s better cards. With big-bank convenience but none of the real perks, the card offers a mobile app and online banking, Eno the personal assistant and identity and credit monitoring among other extras. Mistakes happen, especially when just starting out with adult responsibilities, so finding a more forgiving card may be a smarter choice. It offers decent rewards, but students take a risk with the sky-high interest rate charged by this card.
Earn 5% cash back on hotels and rental cars booked through Capital One Travel. It earns an unlimited 1% cash back on all purchases.
The Capital One Journey Student Rewards card isn’t a trip worth taking.
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