As more student credit cards enter the starter credit card space, you might be wondering which one is the best for you. Most major issuers have respectable student credit card options, and Capital One just launched a couple more to build out its entire suite of student credit cards.
|Capital One Quicksilver Student Cash Rewards Credit Card||Journey Student Rewards from Capital One|
|Welcome bonus||N/A||Up to $60 in 12 monthly streaming service credits (must be earned within the first 18 months)|
|Rewards rate||1.5 percent cash back on all purchases||Unlimited 1 percent cash back on all purchases—boosted to 1.25 percent for the month when the card is paid on time|
Capital One Quicksilver Student Cash Rewards Credit Card vs. Journey Student Rewards from Capital One highlights
Rewards rate winner: Capital One Quicksilver Student Cash Rewards
This card offers a flat-rate of cash back of 1.5 percent on all purchases. There’s no limit to the amount of cash back you can earn. The Journey Student rewards card just offers 1 percent back on all purchases, but it’s boosted to 1.25 percent back for the month if you pay your bill on-time. If your goal is to earn the most cash back possible, then you’d vie for the Quicksilver Student Cash Rewards.
Welcome bonus winner: Journey Student Rewards
Though neither card really offers a welcome bonus in the form of cash back or rewards points, the Journey Student Rewards card offers up to $60 in 12 monthly streaming service credits (must be earned within the first 18 months).
Which card earns the most?
This is a pretty straightforward example, since we are comparing 1.5 percent cash back to 1 percent. For the sake of clarity, however, let’s throw in the bonus cash back rate on the Journey Student Rewards of 1.25 percent back to see how much you can earn as an on-time payer.
Capital One Quicksilver Student Cash Rewards vs. Journey Student Rewards spending example:
|Groceries: $125||Dining out: $50||Entertainment: $30||Miscellaneous: $40||Total: $245|
|Journey Student Rewards
|Journey Student Rewards
We used modest spending amounts to estimate the potential rewards earnings, as students won’t likely have high credit limits or budgets to spend much on their cards. But you can see that the Quicksilver wins out on cash back.
The Quicksilver doesn’t offer any sort of introductory bonus, however, so it could depend on how long you plan to use the card as your main payment method. If you factor in the $60 streaming credit, you might consider getting the Journey Student Rewards instead of the Quicksilver Student Cash Rewards card, especially if you only plan to hang onto the card for a year or two.
Why should you get the Quicksilver Student Cash Rewards card?
You should get this card if you want a straightforward way to earn cash back with a respectable cash back rate, as well as multiple options to redeem these rewards.
Quicksilver Student Cash Rewards cardholders get other card benefits as part of the Mastercard network, including:
- Cell phone protection
- Price protection
- Extended warranty protection
- Complimentary concierge services
- MasterRental coverage
- Master RoadAssist Service
- Mastercard ID theft protection
- Credit monitoring through Capital One CreditWise
You should also know that you can be automatically considered for a higher credit line in as little as six months. If you use your card responsibly, which means paying your bill on time and keeping your balance in check, then Capital One could reward you with an increased credit limit.
Quicksilver Student Cash Rewards cardholders can redeem their cash back rewards to get statement credits, check out with PayPal, shop at Amazon.com and even get gift cards from merchants like Walmart, Lowe’s, Whole Foods and others.
Recommended credit score
Since this is a student credit card, your approval odds are likely if your credit profile is, at minimum, in the “fair” category. A fair credit score starts around 580.
Why should you get the Journey Student Rewards?
This card isn’t that much different from the Quicksilver Student Cash Rewards, aside from the streaming credit and the lower cash back rate. If you are willing to trade the higher 1.5 percent back in exchange for the streaming credit you’ll get in the first year, the Journey Student Rewards card could be of more value to you.
The Journey Student Rewards card doesn’t have as many card benefits as the Quicksilver Student Cash rewards. There are a few to make note of: $0 fraud liability, virtual card numbers from Eno, credit monitoring and emergency card replacement.
You can request your cash back in the form of a statement credit or check. Other options include credits for previous purchases, gift cards and “Amazon Shop with Points” purchases.
Recommended credit score
This card requires a “fair” or better credit score.
The bottom line
Building credit can be a long, drawn-out process, but starting early can make a huge difference. As a student, there are plenty of credit-building options available that can even offer you cash back on all your purchases.
Capital One now has multiple student cards to choose from, and in this case, there are pros and cons for both the Quicksilver Student Cash Rewards and the Journey Student Rewards cards.
In the end, which is better for you depends on whether you value an introductory bonus over a higher earning rate in the long-term. Consider how long you plan to use the card and how much you can earn in rewards before choosing which to apply for.