Capital One Provides Students With Credit Score Access and Tracking Help

Capital One Financial Corporation launched the new Journey Credit Tracker. It is an online financial education resource for customers with Journey Student Rewards accounts. Capital One’s new venture is powered by CreditKarma and allows cardholders access to their credit score each month from the TransUnion reporting agency.

Capital One instituted the Journey card to teach students the basics of a good credit foundation. It is designed to help student card holders build a strong financial history and understand the importance of making a good financial choices especially as a young adult.

The Journey Credit Tracker will help student cardholders track the financial progress by allowing fast access to their score and ongoing monitoring of that score to see how financial decisions will affect it. Students can utilize the tools to compare their own score to other people of the same age or location. The tool allows users to simulate what would happen to their credit score if they made certain financial sources. In addition to the tracking tools, the Journey card website provides students with educational information about consumer debt they may not have learned elsewhere.

The Journey Student Rewards card has been considered an ideal first card for students new to borrowing money and was launched by Capital One in December 2010. There has been much criticism about the lack of financial education for young adults in the education system which leads them into credit difficulties early in life.

Personal finance experts have been encouraging parents to teach the basics of personal finance to help prevent overspending and credit problems in the future. The Journey Credit Tracker tool appears to be part of a growing trend to educate more consumers, including the younger generations, about the importance of debt management and its impact on a person’s future.

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