For the student, who adores travelling or who intends to study in another country, choosing the right credit card will assist the student to save money in the process and make his or her travelling more comfortable.
There is one, the Capital One Student Travel Card aimed at learners who are just beginning to establish their credit histories and love to travel.
Here you will find all the helpful information about this credit card such as the advantages of its use, main characteristics, rates and fees, offered bonuses, and recommendations on application.
1.What is this Capital One Student Travel Card which is been made available for the usage of students
Capital One Student Travel credit card is a credit card that caters for students with domestic as well as international traveling. This is not the typical student card where your benefits are restricted to just customary credit cards features such as cash back benefits but it has features such as travel rewards,
no foreign transaction fees and responsibly building credit while enjoying travel. It’s a great starting point for students who seek to receive cash back on the purchases made and don’t plan on overspending on the international fees.
Capital One is the popular worldwide bank which provides the range of the credit cards and this credit card is developed especially for the students who like to travel and at the same time want to improve their credit rating.
2. The Reasons Students Should Consider Using a Travel Credit Card
To students, having a travel credit card can be a great plans. Not only getting the benefit of the credit card but also getting the freedom to spend, avoiding lure of high charges, and having a responsible credit card attitude. Here’s why students should think about getting a travel credit card:
– No Foreign Fees: With some credit cards, if you extend your card abroad and use it, some outlandish fees are sure to be added to your charge statement.
These forms of charges have however been scratched by the Capital One Student Travel Card and thus is perfect for students who are studying or going to cross border.
– Rewards on Purchases: The card enables students to get points, or cash back on the utilities they purchase, whereby they can use the points on buying flights, hotels and they can as well use the points to be paid cash back.
– Building Credit History: You just starting to build your credit history as a student or a young person, so it will not work.
Such a travel card as this one means you can build and maintain your credit standing through the management of payments and control of your credit ratio.
– Emergency Protections: Most travel cards such as Capital One Student Travel Card have benefits such as, travel accident insurance, fraud protection, car hire waiver and emergency services.
3. Other Rewards Offered By Capital One Student Travel Card
Another interesting about the Capital One Student Travel Card is that it has plethora of features that come with the card. Here are some of the key benefits:
No Annual Fee: This is a crucial advantage especially to the students who cannot afford to buy expensive text books. Significantly, you have no annual fee to worry about, which means you can reap the benefits of a travel card.
No Foreign Transaction Fees: Especially important for those students, who have to travel around the world, it does not have a standard 3% fee that other cards put on transactions in foreign countries.
Travel Accident Insurance: Basic travel accident insurance is also covered in the card in case of any accident when you are travelling.
Rewards Program: You get points or miles for spending your buck, which can be used to pay for traveling expenses trying out flights, accommodation, and car hire.
$0 Fraud Liability: This helps you to avoid being charged by companies whom you never intended to do business with while on your travels.
Rental Car Insurance: Certainly, one of the travel-related benefits of the card is when you use it to pay for a rental car, your coverage is on Capital One.
Access to Travel Tools: Upon receipt of this card, customers shall access services such as travel alerts and card lock or unlock in the event of theft or loss.
CreditWise from Capital One: This particular credit monitoring service is free and assists students in keeping tabs with their credit score and any changes happening to their credit.
Extended Warranty Protection: There is an additional warranty protection for the items that were bought, and this may be quite useful for those students who have to purchase laptops, phone etc.
4. Rewards Program Overview
Another is the Capital One Student Travel Card which, like many of its rivals, presents a straightforward points scheme (again explored in our review). Here’s how it works:
Points on Purchases: It legitimizes a specified number of points grant, for example 1.25 miles per dollar spent That means when you buy text books, groceries or a flight in person or online your always earning points.
Bonus Rewards for Travel Spending: Some student travel cards provide additional benefits on all purchases made to reach certain travel related like air, hotel, or even in buses.
Redeeming Points: Basically, one can use points to pay their business trips prices like air fare, accommodation, car rentals,
and sometimes even get gift cards or free cash back. Furthermore, Capital One enables students to transfer points to more than a dozen airline reward programs.
No Expiration: The points or miles that you make are valid you your account is open and still active make sure to always keep your account open to make sure that your points/miles do not expire.
5. Main Characteristics of the Capital One Student Travel Card
Here are the key features of the Capital One Student Travel Card that make it stand out from other student credit cards:
Introductory Offers: Some student cards provided by Capital One have a basic rewards programs that give more rewards points and or cash to customers who use their card for specific amount of purchases during the first few months with the card. They can help you increase the balance of your rewards fast.
Zero Liability for Fraud: No annual fee, $0 fraud liability – students can be sure that they are protected from frauds, and this is really valuable when a student travels.
Travel Protections: Other Premier Perks and Benefits Insurance includes rental car insurance and travel accident Insurance, and roadside assistance, and travel and emergency assistance are also provided by most Capital One student cards.
Credit Building Tools: It also includes the CreditWise feature from Capital One that lets students create and monitor their credit score for free.
Easy Account Management: A mobile application created by Capital One permits students to control the money they spend, pay bills, as well as to earn and use rewards on the go.
Flexible Payment Options: Capital One offers autopay or you can make a payment manually, thus ensuring they don’t receive a letter of credit status which worsen the credit score.
6. Information about Applying for the Capital One Student Travel Card
Applying for the Capital One Student Travel Card is a simple process, but there are a few steps to ensure you’re prepared:
1. Check Your Credit Score
Nevertheless, since the card is for the college students or those with bad credit or no credit check score before applying is crucial it should be within the range of 600-750. You can do this for free using Capital One’s CreditWise tool.
2. Gather Necessary Documents
You will be asked questions based on your personal data including the social security number, income and details of the school you’re attending. However, if the customer has no credit history at all, the presence of regular income or cosigner can become the key to approval.
3. Submit Your Application
Go to the Capital One website, locate the part with the student travel card and complete the application on the website. You should get a reply almost immediately, sooner if you work with your time zone.
4. Approval and Card Activation
If approved, we will mail your card within 7-10 business days after receiving your application. When you get one, follow the steps in the Capital One application or on the bank’s website to activate the card.
7. Credit/Debit Card Hacks Maximizing Return
If you get a Capital One Student Travel Card, it is important for travellers to make good use of this card.
Use It for Everyday Purchases: To earn more points or miles, you should use your card on recurring expenses such as food, fuel, and web purchases.
Pay Your Balance in Full: He advised against carrying balance forward each month because interest charges can erase all the rewards of the card. To ensure that you are not held in the red be sure to clear your balance in full every time.
Take Advantage of Intro Bonuses: If there is an introductory offer where you get an extra point or reward for every dollar spent in the first few months to receive a certain number of points or reward,
schedule the big-ticket prices during that first few months to meet the requirement is also recommended.
Redeem Points for Maximum Value: You can actually get the most of your points whenever you redeem them for travel related expenses.
Monitor Your Credit: Monitor your credit score through the CreditWise tool and always effort to raise your score by paying on time and keeping the credit utilization of your card low.
Plan Ahead for Travel: Take advantage of the card perks that are connected to travel in order to help minimize expenses on trips.
8. Pricing of Capital One Student Travel Card Compared to Competitors
The Capital One Student Travel Card vs. other student credit cards
- Discover it® Student Cash Back: They have a good cash back feature which has a monthly category which this card may not come with the same travel-feature as the Capital One card.
- Bank of America® Travel Rewards for Students: Kate Values 5: Like the Capital One Student Travel Card, this card rewards travelers with points for their travel spending and charges no foreign transaction fees.
- Freedom® Student Card: This card pays cash back instead of focusing on those specific to student traveling such as no foreign transaction fees or travel insurance.
Key Comparisons:
Foreign Transaction Fees: While Capital One Student Travel Card and Bank of America® Travel Rewards for Students do not apply these fees some as Discover it® may impose fees when making purchases internationally.
Rewards Structure: Some of the student cards present straightforward, low-redemption-rate point system (e.g., Capital One Student Rewards – 1.25 points per dollar spent),
while others have switched between categories, which could prove more advantageous if the student’s spending corresponds to these categories, such as Discover it® Student Cash Back.
Additional Perks: Consequently, Capital One has travel-related benefits which include; Insurance, cars rentals and warranty that can be of immense benefit to frequent travelers than the normal reward or cash back type of benefits.
In the end, it boils down to your inclination of spending for there are only few consummately superior travel and foreign transaction fee-free credit cards for students like the Capital One Student Travel Card for those who are constantly travelling.
9. What to Know Before Applying: Eligibility & Requirement
Before applying for the Capital One Student Travel Card, there are some things you should keep in mind:
Eligibility Criteria:
Student Status: This card is extremely student-oriented, so you’re usually going to have to be a college or university student or another type of qualified student.
Credit History: Even though this card is for students, Capital One expects applicants with fair credit, or at least limited credit history. One is not necessarily required to have a long credit history but the more responsible one is financially the better I guess.
Age Requirement: If you want to apply, you need to be not less than 18 years of age and if c 21 years you must show proof of an independent income or have a guarantor.
Documents Required:
Social Security Number: You will be asked for your SSN or ITIN as identification information for making the purchase.
Proof of Income: You may be required to provide proof of income for your credit card application this is to show ability to repay for credit card balances at Capital One. This may be income from employment in other positions, scholarship or allowance from parents or guardians.
Contact Information: You will be required to register your permanent address, telephone number and e-mail address.
Approval Chances:
This card requires little qualification for approval, as this card is intended for students possibly without any credit history.
If you have been pre-qualified for a Capital One credit card, information on your pre-qualification will be advertised on the company’s official website with no damage to your credit score.
10. FAQs About Capital One Student Travel Card
Q.International students: Can I get the Capital One Student Travel Card?
Yes, students from other countries are absolute free to apply for Capital One Student Travel Card. Nevertheless, they require either Social Security Number or ITIN to apply the acquisition.
Q. What is the interest on the Capital One Student Travel Card?
The interest range of the is 19.99% – 26.99 % APR based on credit score of the borrower. It also always recommended to clear the balance in full to avoid being charged interest on the remaining balance.
Q. How can I use the card to help my credit history is concerned?
They do, though, if you use the card properly by paying your bills on time and ensuring that your statement credit line is low.
Q. Cardholders find out if making use of this card attracts any form of charges or not.
There are specific fees such as none annual fee and no foreign transaction fee, so you must be attentive to due dates as they can charge fees on late payments or returned payments.
Q. Do I lose my points in case I ever graduate or shut my account?
Your points earned on an account remains valid provided the account remains open and you are in compliance with the policy requirements. For example, if you close your account or default on payments, any earned rewards may be forfeited.
Q. Is it possible to use the card at most places around the globe?
Yes, the Capital One Student Travel Card is both a Visa and MasterCard, which means it’s acceptable anywhere problems are ever present worldwide. This is helpful to students who are on studies abroad or travel overseas.
11. Considerations of the Capital One Student Travel Card Is it Well within Your reach?
As for who should apply for the Capital One Student Travel Card, it’s suited for students who need a card that offers travel related benefits but are new in the world of credit.
None annual fee, not even one for foreign transactions, as well as a clear-cut rewards plan makes this among the best for student travelers thus it is also good for students and it is even more profitable too.