Building Credit: Unsecured And Secured Credit Cards
securely on the issuer’s website
- Min. credit levelLimited Credit History
- Annual Fee$0
- Be automatically considered for a higher credit line in as little as 6 months
- Fraud coverage if your card is lost or stolen
- Use online banking to access your account, even from your smartphone, with our mobile app
- Check out quickly and securely with a contactless card, without touching a terminal or handing your card to a cashier. Just hover your card over a contactless reader, wait for the confirmation, and you’re all set
- Pay by check, online or at a local branch, all with no fee – and pick the monthly due date that works best for you
- Get access to your account 24 hours a day, 7 days a week
- Help build your credit through responsible use of a card like this
A balance transfer is a way to move debt from one card to another with the goal of saving money on interest.
- Intro Balance Transfer APRN/A
- Regular Balance Transfer APR26.99% Variable
- Balance Transfer Fee$0 at this Transfer APR
- Additional Cards Annual FeeN/A
- Foreign Transaction FeeNone
The Capital One Platinum Credit Card is a simple card made for people with average or limited credit, and could make a good stepping stone up to more rewarding credit cards. Consider it if youre still navigating the credit-building process and are having trouble qualifying for better cards, but also check out the Journey Student card below, a similar option but with cash back rewards .
securely on the issuer’s website
- Min. credit levelBad
Major Issuers And Their Policies On Instant Credit Access
NerdWallet’s survey of issuers found that while many of them offer some form of instant access to credit,;American Express has by far the most comprehensive such policy. With AmEx, all consumer cards give you access to an instant card number that you can use almost anywhere, as long as the issuer can instantly verify your identity.
Other issuers either didn’t offer instant access to credit or made it available on a more limited basis. The following list is accurate as of June 2021:
An instant card number upon account approval is available on all American Express U.S. consumer credit and charge cards, including co-branded cards, according to the issuer. AmEx prepaid cards don’t offer this feature, AmEx notes. Eligibility is based on American Express ability to instantly validate your identity. If you are eligible for an instant card number, you will receive one that you can use virtually anywhere AmEx is accepted, and a physical card will not be required. An instant card number is available only when you apply online through American Express via a desktop or mobile device, AmEx says. It’s not available on applications made by phone.
Alaska Airlines Visa Signature Credit Card
Sign-up bonus: Earn 50,000 bonus miles and Alaskas Famous Companion Fare from $121 after you make $2,000 or more in purchases within the first 90 days of account opening.
Earning rates: 3x miles per dollar spent on eligible Alaska Airlines purchases, and 1x miles per dollar spent everywhere else.
Annual fee: $75
Why we like it: The card is currently offering a great sign-up bonus, and since youll get your card number upon approval, you should be able to begin meeting the spending requirement right away. Besides offering some of the most valuable airline miles around, you get your first checked bag free, 50% off Alaska Lounge day passes and the companion fare from $121 each year after your account anniversary.
Expanding And Making Finance More Accessible
Headquartered in McLean Virginia, Capital One has progressed significantly from its monoline days. Despite its now-diversified offering of products and services, it remained true to its credit card roots and demonstrates unwavering dedication to providing a high-quality customer experience.
It currently has 123 offices across the U.S as well as locations in Canada, Germany, France, the Philippines, and the U.K. Capital One is beginning a new endeavor to revamp the way customers experience banking through the development of trendy financial cafes to complement its traditional local branches.
Capital One Cafe, NYC location. Image credit: Business Insider
Through the lure of freshly roasted coffee and innovative workspaces, these cafes are intended to provide a welcoming space for customers to take control of their finances. They offer one-on-one money coaching as well.
Capital One Spark Cash Plus
Best for small businesses
- This card is best for: Small business owners looking to earn high cash back rewards without keeping track of spending categories.
- This card is not a great choice for: People who may not have the cash flow in their business to cover the annual fee.
- What makes this card unique? Small business owners can earn unlimited 2 percent cash back on all purchases, making it a bit easier to earn consistent rewards on business expenses. Theres also the opportunity to earn cash bonuses with certain terms and conditions.
- Is the Capital One Spark Cash Plus worth it? For small businesses with the cash flow to handle an $150 annual fee, the Capital One Spark Cash Plus is a great way to earn consistent and high cash back rewards on purchases. If youre looking to earn some of the cash bonuses but youre worried about the spending requirements, there may be other cards on the market that offer a different set of rewards that better fit your needs.
Jump back to offer details.
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Is There Anything I Should Do Before My Card Expires
If youâre a Capital One cardholder, the most important thing to do is update your mailing address.
But Capital One will be with you at every step. Youâll know when your new card is on its way and which information on your card is changing. And youâll also have a starter list of merchants where you may need to update your payment information.
And donât forget all the other digital features Capital One has to help:;
- Eno helps you manage your account from any device, from your phone or laptop to your smartwatch. And if youâre expecting a new card, Eno can remind you to activate it. Plus, Eno gives you access to those virtual card numbers.
- The Capital One Mobile app and your online account give you 24/7 access to up-to-date card information. While you wait for your replacement card to arrive, you can use that info to update recurring merchants, refresh mobile wallets and shop online.
- Your replacement card may be equipped with contactless technology. It allows you to check out faster and securely by simply holding or tapping your card on enabled card readers.
When it comes to replacing your expired card and managing your account, Capital One has you covered.
How Many Credit Cards Is Too Many
To answer your question about whether seven cards is too many, the best information I can give you comes from the FICO high achiever statistics, an analysis by the credit scoring giant into the habits and attributes of approximately 50 million U.S. consumers who score above 785. Base FICO scores range from 300 to 850.
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Capital One Venture Rewards Credit Card: Best For Travel Rewards
Why we picked it: If you are looking for rewards and dont want to be tied down by a specific travel brand, the Venture Rewards is perfect. As one of the best credit cards for travel rewards, its worth your while if you do a fair amount of traveling, even with a $95 annual fee.
Pros: The Venture Rewards 2X miles on all purchases are solid, as is the sign-up bonus of 60,000 miles if you spend $3,000 in your first 3 months. Plus, as with all Capital One credit cards, there are no foreign transaction fees.
Cons: While the Venture Rewards card now has airline partners, the 2:1.5 transfer ratio is less than that of some other competitor travel cards.
Who should apply? The Venture Rewards is perfect for frequent travelers who want to rack up rewards without having to fully commit to one specific travel brand.
The Move From Monoline
Although Capital One is still most notable for its expansive line of cards, it began to understand the need for diversity as it neared the 21st century. In the late 1990s and early 2000s, it entered retail banking to minimize the risk of limited revenue streams under a monoline business approach. This marked the time in which Capital One began applying its analytical data, previously utilized to construct customer profiles to propel its credit card business, to the sector of auto financing.
Throughout the early 2000s, the company made several key acquisitions to help support its transition into retail banking. It bought out Hibernia Nation Bank in 2006, followed by North Fork Bank and Chevy Chase Bank in 2008 in order to boost its market share in the New York and Washington D.C metropolitan areas.
One of the most important acquisitions, which finalized a transition from a monoline business layout to a diverse model that focused on providing retail banking services, was of ING Direct in 2012. This particular acquisition allowed Capital One to begin exploring online banking as a strategic tool in the customers financial experience.
Delta Skymiles Gold American Express Card
Welcome bonus: Earn 40,000 bonus miles after you spend $1,000 in purchases on your new card in your first three months card membership. Plus, earn up to $50 back in statement credits for eligible purchases at US restaurants with your card within the first 3 months of membership.
Earning rates: 2x miles per dollar spent on eligible Delta purchases and at restaurants and U.S. supermarkets, and 1x miles per dollar spent on all other eligible purchases.
Annual fee: $0 introductory annual fee for the first year, then $99
Why we like it: This card provides casual Delta flyers elite-like benefits, such as a free checked bag and priority boarding on Delta flights. You can use your instant card number to book Delta flights right away and begin to take advantage of these benefits before your physical card arrives by adding your Delta SkyMiles number to your reservations.
Apply here: Delta SkyMiles Gold American Express Card
Learn How Virtual Card Numbers Can Make Online Shopping More Convenient And More Secure
Virtual card numbers are a convenient way to make credit card purchases online. Theyâre sometimes called virtual credit cards or virtual cards. And they allow you to shop online without giving vendors your actual card number.
Thanks to virtual card numbers, you can shop online faster and more securelyâand you donât even have to pull out your wallet. Learn more about how virtual card numbers work and how they can help you keep your account information safe.
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How Do Virtual Card Numbers Work
You can use a virtual credit card number just like you use your actual credit cardâjust shop online, start the checkout process and use a virtual card number to make your purchase.
Virtual card numbers typically work with any online merchant that accepts credit card payments. So if you can buy it online with your actual credit card, you can probably buy it online with a virtual card number.
What Is Capital One
Capital One, formally known as Capital One Financial Corp., is the fifth-largest consumer bank and the eighth-largest bank overall in the U.S. Founded by now Chairman and Chief Executive Officer Richard Fairbank, it reported a total net revenue of $28.5 billion in 2020. Per the Nilson Report, Capital One held a 10% market share of purchase volume among credit card issuers as of 2020.
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Capital One Savorone Student Cash Rewards Credit Card: Best For Entertainment Seekers
Why we picked it: Students can rack up rewards in categories they may already be spending on, such as dining, entertainment and streaming services. Plus, this card offers a best-in-class return on non-rotating bonus categories among student credit cards.
Pros: The bonus categories this card offers will click with some students existing spending habits, and the rate of cash back is extremely generous for cards in this class. In addition, students wont have to worry about an annual fee or foreign transaction fees.
Cons: If you dont spend money on the cards student-focused bonus categories, youll probably see more value from a flat-rate student rewards credit card. Undisciplined spenders might also find the ability to earn ample rewards distracting while trying to build credit, particularly since the bonus categories largely focus on discretionary spending categories.
Who should apply? Students who already spend some of their budget on streaming, dining and entertainment while being able to commit to paying balances off in full each month will find this card quite generous.
Who should skip? If the bonus categories dont align with the cardholders spending, this card wont provide much value.
Can You Get Credit Card Number Before Card Arrives
Get Your Chase Credit Card Number Before It Arrives in the Mail. Chase is one of the issuers that do not give you the credit card number as soon as you are approved. But a quick trip could get you your full credit card number and let you make some purchases online or over the phone without having your physical card yet
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Capital One Platinum Credit Card
Best for limited credit history
- This card is best for: Anyone who wants to build their credit history with responsible use and healthy financial habits.
- This card is not a great choice for: Those who want to be rewarded for regular spending or receive a sign-up bonus.
- What makes this card unique? The Capital One Platinum gives those pursuing fair credit an opportunity to prove their creditworthiness so they can upgrade to a better credit card in the future.
- Is the Capital One Platinum Credit Card worth it? If you have fair credit and do not want to pay an annual fee, this card is a solid choice. Just make sure to keep a low balance and always pay your credit card bill early or on time because the regular APR can be unforgiving.
Jump back to offer details.
Can I Get An Amex Card With A 650 Credit Score
Its also available to people with bad credit, unlike anything Amex offers. None of the credit cards issued by American Express is especially easy to get because they all require a minimum of good credit. That means a score between 660 and 720, although a score of 700+ will give you the best chance.
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Heres How To Use A Capital One Credit Card Before It Arrives:
If you have your new Capital One cards number, expiration date and security code, you can use it to make purchases before the card arrives.
Capital One Walmart Rewards Mastercard Details
As of November 2019, the Capital One Walmart Rewards Mastercard has no annual fee. This card has an annual percentage rate for purchase, quick cash, and transfers of between 17.99% and 26.99%, based on creditworthiness. The cash advance APR is 26.99% variable and the balance transfer fee is 3% of the amount of each transferred balance that posts at a special promotional rate, and zero for balances transferred at the transfer APR rate. The fee for cash advances is either 3% or $10, whichever is more.
The late payment fee can be as much as $39, depending on how many recent late payments you’ve had. The card comes with $0 fraud liability protection against charges by unauthorized users and a free FICO score check when signing up for online statements.
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How To Redeem Capital One Cash Back
Redeeming your Capital One cash back is simple:
Now, you can choose what you want to redeem your cash back for.
Capital One cash back redemption options
- Cash.You can receive a mailed check or statement credit. Also, you can apply your cash back to specific purchases youve already made.
- Gift cards.These are available from dozens of retailers, online stores, restaurants and more. Redemptions start as low as $10, but many gift cards require a $25 minimum.
- Transfer.You can transfer your cash back to one of your other Capital One accounts. If youd like to transfer rewards to someone elses Capital One account, call the number on the back of your card and ask to speak with a representative.
How much is Capital One cash back worth?
Capital One cash back is worth face value, whether you redeem it for a check or statement credit or to offset a purchase. If you have $50 in cash back, for example, its worth $50 in statement credit.
The same goes if you redeem your cash back for gift cards. A $50 gift card will cost $50 in cash back.
While gift cards deliver decent value for your cash back, you can buy them in a more lucrative way.
Instead, you could use your card to buy the gift card at a Starbucks store. Youll earn 4% cash back on that transaction, which is equivalent to $4 in rewards.