It doesn’t ask for an annual fee, meaning cardholders can use it potentially for free so long as they’re avoiding interest charges by not carrying a balance from month to month. If you’re having a hard time qualifying for cards that require higher credit scores, this card presents a good opportunity to build up your credit before moving to cards that offer stronger features. Pros
Use responsibly to improve credit scoresNo annual feeNo foreign transaction feeKeep an eye on your VantageScore 3.0 credit scoreFaster path to a potential credit line increase
Cons
No rewardsLimited benefitsHigh APR (avoidable)
Card benefits
There aren’t many to list here. The most useful is access to Capital One’s CreditWise tool, but that’s available to everyone, not just Capital One cardholders. It also comes with the standard $0 liability protection and a potential credit line increase.
Automatic credit line review: Get automatically considered for a higher line of credit within as little as six months.Eno, 24/7 digital assistant: Access to Capital One’s digital assistant to help manage your account. Check your balance, see recent transactions, pay the bill, and more.$0 Fraud Liability: cardholders won’t be held responsible for unauthorized charges on the card.Capital One’s CreditWise: cardholders can see their VantageScore 3.0 credit score from their TransUnion credit report.Virtual card numbers: Use virtual card numbers to securely shop online.Contactless pay: No need to swipe or insert. Hover your card wherever you see the symbol to pay.
The card is issued as a Mastercard, so it’s accepted everywhere Mastercard is. There is no annual fee, so if cardholders pay on time and avoid carrying a balance to avoid interest charges, they could use it for free. And, if cardholders manage to qualify for the credit line increase, it’ll keep credit utilization lower which leads to healthier credit scores. Once your scores are looking better and are in the good to excellent range, move on to a credit card that has better features. Journey Student Rewards from Capital One: Earn up to 1.25% cash back for every purchase, provided cardholders are paying on time. It doesn’t have an annual fee, and despite the name, it’s available to everyone. Discover it® Secured Credit Card: Pay a one-time refundable deposit that establishes the starting line of credit (minimum of $200). Cardholders earn 2% cash back for gas and dining (up to $1,000 in purchases per quarter, then 1%) and 1% for everything else. Discover will also match the cash back for the first year with the card.
