With more and more student credit cards entering the entrepreneurial credit card space, you may be wondering which one is right for you. Most major issuers offer respectable student credit card deals, all with varying reward rates, welcome offers, and other perks.
In this comparison guide, we looked at two Capital One student credit cards – the Capital One Quicksilver Student Cash Rewards Credit Card and Capital One’s Journey Student Rewards.
|CAPITAL ONE QUICKSILVER STUDENT CASH REWARDS CREDIT CARD||JOURNEY STUDENT REWARDS FROM CAPITAL ONE|
|Welcome bonus||$100 when you spend $100 in the first 3 months||Up to a $60 credit ($5 per month for 12 months) for select streaming services with on-time credit card payments. Credits must be earned within the first 18 months|
|Rewards rate||1.5% cash back on all purchases||1% cash back on all purchases — boosted to 1.25% for the month when the card is paid on time|
Highlights of Quicksilver Student Cash Rewards and Journey Student Rewards
Reward Rate Winner: Quicksilver Student Cash Rewards
Quicksilver Student Cash Rewards offers a flat 1.5% cash back on all purchases, and there’s no limit to how much cash back you can earn. This card also gives you 5% cash back on hotels and car rentals booked through Capital One Travel.
In contrast, Journey Student Rewards only offers 1% cash back on all purchases. If you pay your bills on time, the rate will increase to 1.25% for the month. If your goal is to earn as much cash back as possible, Quicksilver Student Cash Rewards is the better option of the two.
Welcome Bonus Winner: Quicksilver Student Cash Rewards
Quicksilver Student Cash Rewards currently offers a $100 welcome bonus if you spend $100 within the first three months of card membership. This offer is one of the better welcome offers on a student credit card, and it’s easy to pull off—you can get a bonus for only about $34 a month.
Journey Student Rewards, on the other hand, offers up to $60 in credit ($5 per month for 12 months) as long as you pay by credit card on time. Additionally, points must be purchased within the first 18 months of card membership.
While the Journey Student Rewards Welcome Bonus requirement is easier to meet—you just pay your monthly credit card bill on time—Quicksilver Student Cash Rewards offers an easy-to-achieve, higher $100 Welcome Bonus, clear winners in this category.
Annual Fee Winner: Tie
Both cards have no annual fee, which means you don’t have to pay for card membership every year. It’s easy to find a student credit card with no annual fee, so make sure any credit card you’re seriously considering doesn’t.
Foreign Equity Fee Winner: Tie
Neither Quicksilver Student Cash Rewards nor Journey Student Rewards include foreign transaction fees. This means that both cards are good options for studying abroad or traveling, as you don’t have to pay a fee (usually around 3%) for every transaction you make abroad.
Which card is the most profitable?
Below is a fairly simple payout example where we compare the Quicksilver Student Cash Rewards 1.5% rebate to the Journey Student Rewards 1% rebate. On top of that, we’ve also added a 1.25% cash back rate on Journey Student Rewards to see how much you can earn as a timely payer.
Example of Quicksilver Student Cash Reward Payouts and Journey Student Rewards
Say you spend $125 a month on groceries, $50 on food, $30 on entertainment, and $40 on miscellaneous items, for a total of $245. From the three yields on both cards, you can earn the following cash back on purchases each month:
|QUICKSILVER STUDENT CASH REWARDS (1.5%)||JOURNEY STUDENT REWARDS (1%)||JOURNEY STUDENT REWARDS (1.25%)|
|Total spent ($245)||$3.68||$2.45||$3.06|
For this spending example, we used modest spending amounts to estimate potential premium income, since students are unlikely to have high credit limits or spending budgets. But you can see Quicksilver Student Cash Rewards earning cash back every time.
Quicksilver Student Cash Rewards even beat Journey Student Rewards for welcome bonuses — $100 cash back and $60 in streaming credits. That’s an extra $100 in your pocket that you can use as much as you want — for streaming services, takeout, shopping, or anything else. This is a more flexible welcome bonus than Journey Student Rewards streaming credits, and it comes with more conditions to use the bonus.
Why should you get Quicksilver Student Cash Rewards?
You should get this card if you want easy access to a decent cashback rate and a decent welcome bonus. Plus, the card offers a variety of reward redemption options and has no international transaction fees, making it a great option if you’re planning to travel or study abroad. It also offers 5% cash back on access to Capital One Travel and on hotels and car rentals booked through the Capital One Travel portal.
Quicksilver Student Cash Rewards includes a range of card benefits including Cell Phone Protection, Fare Protection, Extended Warranty Protection, Free Concierge Services, Rental Car Insurance, Roadside Assistance, Travel Accident Insurance, Emergency Travel Assistance, $0 Fraud Liability, Eno Virtual Card Number, Credit monitoring via CreditWise and more.
Plus, you’re automatically considered for a higher credit limit in as little as six months, which is a much shorter period than competing student cards. If you use your card responsibly – which means paying your bills on time and keeping track of your balance – then Capital One can reward you by increasing your credit limit.
Quicksilver Student Cash Rewards cardholders can redeem their cash back rewards for statement credit, checks, PayPal checkouts, purchases from Amazon, and gift cards from retailers like Starbucks, Ulta Beauty, Panera Bread, Whole Foods, and more.
Recommended credit rating
Because it’s a student credit card, you may have a better chance of being approved if your credit profile is at least in the fair to good credit range (FICO score of 580 to 740).
Why should you get Journey Student Rewards?
If you’re a new cardholder looking to build your credit and develop good financial habits — and you’re not interested in the welcome bonus or higher reward rates that come with other student cards — Journey Student Rewards might be the way to go A good choice for you.
Journey Student Rewards offers less card benefits than Quicksilver Student Cash Rewards. Key benefits this card offers include access to the Capital One Travel portal, $0 fraud liability, Eno virtual card number, CreditWise’s credit monitoring and emergency card replacement. Plus, like Quicksilver Student Cash Rewards, you’ll automatically receive a higher credit limit after six months.
This card can be redeemed in the same way as Quicksilver Student Cash Rewards. You can redeem cash back on your bank statement, check, gift card, or when you shop on Amazon or through PayPal.
Recommended credit rating
Journey Student Rewards requires good credit (FICO score of 580 to 740).
Setting up a loan can be a long and tedious process, but starting early can change the world. As a student, there are many credit-building student cards that also offer you benefits such as a welcome bonus and cash back on all purchases.
In this case, the Capital One Quicksilver Student Cash Reward and the Capital One Journey Student Reward each have pros and cons. But even if you only plan to use your student card for a year or two, Quicksilver Student Cash Rewards beats Journey Student Rewards for its higher rewards rate, welcome bonus, and perks.
Delta Skymiles® Reserve American Express Card Review – See more.
AmEx focuses on customer experience with new checking account and redesigned application