Wednesday, February 1, 2023

How To Get Cash Back With Capital One Credit Card

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Learn More About Rewards Cards That Offer Cash Back Including How To Redeem Rewards And Which Cards Capital One Offers

Capital One Quicksilver Review | Cash Back Credit Card

There are plenty of rewards credit cards out there. But if youâre looking for a simple way to earn money on purchases youâre already making, a cash back credit card could be right for you.

But where do you start if you donât know how these cards work? Before you apply, here are some things to know about cash back cards.

Best For 15% Cash Back

Annual Fee:
0% intro on purchases for 15 months
Balance Transfer Intro APR:
0% intro on balance transfers for 15 months
Regular APR:

Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards.

Capital One Savorone Cash Rewards Credit Card

Our pick for: Dining/entertainment rewards + no annual fee

Love the night life but dead-set against paying an annual fee? Consider the Capital One SavorOne Cash Rewards Credit Card. It pays a lower cash-back rate on dining and entertainment than the regular Savor card, but the rewards are nevertheless quite good. The sign-up bonus is smaller than on the annual-fee version, too, but it’s still solid. Read our review.

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How To Redeem Capital One Rewards

Capital One Rewards are unlimited and donât expire as long as you hold the card. Redemption will depend on the type of card. A miles card such as the Venture Rewards card can act as an eraser for travel purchases or miles can be transferred to a number of airline partners. A cash back cardâs rewards can be redeemed for cash back or statement credit. Capital One will even redeem rewards automatically when you reach an amount that you designate.

Types Of Capital One Credit Cards

All About the Capital One Credit Card

Capital One offers a huge variety of credit cards that cater to all needs, whether youre looking to rack up travel points, save money on dining, get a credit card for your new business, pay off debt, or even build credit.

Travel rewards credit cards

Even though they only offer two travel rewards credit cards, both of Capital Ones Venture cards have consistently been ranked as the best travel rewards credit cards on the market for years now. These cards are designed to help you earn rewards that can be applied to travel expenses, helping you potentially save thousands on your dream vacation. They also tend to offer bonus points for travel spending and perks that are particularly useful for frequent travelers.

Cash back credit cards

Many consumers prefer cash back credit cards because they dont have to worry about difficulties with redeeming travel rewards, such as blackout dates and redemption options that dont fit their travel schedule. Cash back credit cards instead offer to give you back a percentage of each purchase you make. Flat rate cash back credit cards offer a flat rate back on purchases, usually 1.5% or 2%. Other cash back credit cards have bonus categories that offer a higher percentage back — such as 3% cash back on travel purchases or 4% cash back on dining and entertainment — but only offer 1% back on other purchases.

Secured credit cards
Business credit cards
0% intro APR credit cards

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How To Choose The Best Capital One Cashback Card

While rewards might be your top priority for your Capital One card, these considerations might help steer you toward the best card for your needs:

  • Do you have fair credit?If you have fair credit, the Capital One QuicksilverOne Cash Rewards Credit Card might be the right choice. If youre a business owner with fair credit, consider the Capital One® Spark® Classic for Business.
  • What annual fee do you want to pay?Capital One doesnt have any premium cards that cost hundreds of dollars a year. Rather, your choice is whether you want to pay a $0 or $39 annual fee, or a $95 annual fee starting the second year.If youll pay an annual fee, consider whether youll get enough value from the card to justify the cost. For example, you might want the card for its rewards, or simply because its one of the few cards available to someone with your credit profile.
  • Do you want a signup bonus?Capital Ones personal cards have signup bonuses of $150 to $300, while its business cards have signup bonuses of $200 to $500. Keep in mind some cards have annual fees that will eat into these rewards.

Why You Might Want A Different Card

The fee may be hard to swallow

If a $95 annual fee is a dealbreaker, you have other options when it comes to dining rewards. In addition to the no-fee version of this card discussed above, take a look at the U.S. Bank Altitude® Go Visa Signature® Card. It, too, earns 4X back on dining purchases, but unlike the Savor, the card’s annual fee is $0*. Notably, however, it does not earn bonus rewards on “entertainment” purchases. If that’s a big category for you and you still want to avoid a fee, also consider the U.S. Bank Cash+ Visa Signature® Card. It earns 5% cash back in two categories of your choice, on up to $2,000 spent per quarter on combined purchases. As of May 2021, some of those eligible 5% categories included fast food, movie theaters, as well as TV, internet and streaming services. The card also offers an uncapped 2% back in an everyday category of your choice, including restaurants. You’ll get 1% back on all other purchases.

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Best Cards To Pair With The Capital One Quicksilver

Since flat-rate cards reward purchases that dont usually fall within standard bonus categories, you could benefit by pairing your Quicksilver with a bonus category card for your specialized spending.

The Blue Cash Preferred® Card from American Express would make an excellent partner for 6 percent cash back on U.S. supermarket purchases 6 percent back on select U.S. streaming services 3 percent cash back on transit 3 percent back on U.S. gas station purchases and 1 percent back on all other purchasesif you dont mind a $95 annual fee .

If you prefer dining or delivery to cooking, the no annual fee Capital One SavorOne Cash Rewards Credit Card earns unlimited 3% cash back on dining, entertainment, popular streaming services and at grocery stores , plus 1% on all other purchases.

Youre Our First Priorityevery Time

Capital One Savor | NEW 5% CASH BACK REWARD

We believe everyone should be able to make financial decisions with confidence. And while our site doesnt feature every company or financial product available on the market, were proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward and free.

So how do we make money? Our partners compensate us. This may influence which products we review and write about , but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Our partners cannot pay us to guarantee favorable reviews of their products or services.Here is a list of our partners.

BEST OF

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Capital One Rewards Program Overview

Type of currency
1 cent
Travel, statement credits, gift cards, Amazon purchases
Minimum required to redeem Redeem any number of miles at any time
Do rewards expire?
15+ airline and hotel partners, certain Capital One rewards accounts
Is there a fee to transfer miles? No
  • Straightforward rewards program with a good general rewards rate
  • Booking travel on multiple sites without losing point value
  • Flexible redemption options

Hsbc Premier World Elite Mastercard

Earn up to 100,000 Points1a,1d,1f,1g PLUS a full annual fee rebate for the Primary Cardholder for the first year1e. Must apply by January 31, 2022. Conditions Apply.

  • Primary Cardholder Annual Fee: $149**

  • Annual Interest on Purchases: 19.9%

  • Annual Interest on Cash Advances and Balance Transfers: 22.9%

Requires $80,000 or $150,000 household income, or minimum of $400,000 in assets under management .

As an HSBC Premier* client, the Account will be eligible for a $50 rebate of the annual fee.

Eligibility for HSBC Premier* and HSBC Premier World Elite Mastercard is subject to meeting qualification requirements. View full details.

Special Offer

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Capital One Savorone Vs Capital One Savor

The SavorOne card has a lower rewards rate than its sister card, the Capital One Savor Rewards Credit Card, but there are a few reasons we believe the SavorOne is the better choice for most people.

Heres how the two cards compare:

Capital One SavorOne
$200 cash bonus after you spend $500 within 3 months of account opening $300 cash bonus after you spend $3,000 within 3 months of account opening
Rewards 3% cash back on dining, entertainment, popular streaming services, and at grocery stores1% cash back on all other purchases 4% cash back on dining, entertainment, and popular streaming services3% cash back at grocery stores1% cash back on all other purchases

The Capital One SavorOne card earns slightly less than the Savor on dining, entertainment, and streaming. But after accounting for the difference in annual fee cost, you may actually earn more with the SavorOne over time. Based on average American consumer spending data, we estimate the SavorOnes ongoing annual value at $355.56, and the Savor at $327.41 after the annual fee.

The SavorOnes welcome bonus is also $100 less, but its much easier to obtain youll only need to spend $500 within three months of account opening instead of $3,000 .

However, if you regularly spend a lot on dining, entertainment, and streaming, the Savor card is worth considering. Before you apply, use your spending over the past several months and your budget to estimate the difference in value you can get between these two cards.

  • Intro bonus:

Capital One Quicksilver Cash Rewards Credit Card Vs Capital One Ventureone Rewards Credit Card

Capital One Quicksilver Credit Card Student Review

The Capital One VentureOne Rewards Credit Card’s redemption rate of 1.25% is rather low. The card’s early spend bonus is quite attractive for the Capital One VentureOne Rewards Credit Card, but for users with longer-term horizons and higher amounts of charges, the Capital One Quicksilver Cash Rewards Credit Card is much better.

Short-term: If your horizon is short-term, and you spend less than $40,000 in your first year, then the Capital One VentureOne Rewards Credit Card wins Earn a bonus of 20,000 miles once you spend $500 on purchases within 3 months from account opening, equal to $200 in travel That comes out to a value of $200 when used towards travel.

Long-term: If you plan on holding this card as your primary credit card for the longer run, then the extra 0.25% difference of the Capital One Quicksilver Cash Rewards Credit Card over the Capital One VentureOne Rewards Credit Card starts to kick in the first dollar after $40k.

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Here’s How You Can Get A Capital One Quicksilver Cash Advance:

  • At an ATM using your PIN. If you forgot your PIN or need one for your card, you can request one on Capital One’s web page.
  • At a bank lobby that displays the Mastercard logo. Capital One Quicksilver is a Mastercard, so look out for the logo to know where you can ask a bank teller for a cash advance. You will need to present a government-issued photo ID along with your Capital One Quicksilver.
  • With a check. If you’ve been given checks by Capital One, you may be able to fill one out yourself and either cash it or deposit it at your bank.

Just be mindful of the fact that credit card cash advances are expensive. Capital One Quicksilver charges a cash advance fee of 3% . There’s also a 24.99% cash advance APR that starts accruing immediately. In addition, cash advances at a non-Capital One ATM may be subject to additional bank charges.

If you still want to make a Capital One Quicksilver cash advance, keep in mind that there are withdrawal limits, so review your most recent credit card statement to know how much available credit you have for cash advances. Also, don’t forget that paying off the balance works differently than with a regular credit card purchase. That’s because there is no grace period for cash advances. This means interest charges start accruing on the date of the transaction.

How Much Are The Rewards Worth

The 1.5 percent cash back rate means that every dollar you spend will net you 1.5 cents.

Capital One cash back is also one of the few reward currencies to maintain a consistent value across all redemption options. Even when used to shop with points on Amazon or PayPal, your cash back keeps its full value.

By comparison, Chase Ultimate Rewards points drop to 0.8 cents each and Amex Membership Rewards points are worth only 0.7 cents apiece in this manner.

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Capital One Quicksilver Student Cash Rewards Credit Card

Our pick for: College students seeking simple rewards

The Capital One Quicksilver Student Cash Rewards Credit Card gets high marks for cards in its class, thanks to its $0 annual fee and its no-fuss rewards rate: 1.5% cash back on all purchases. That’s as good a combo as you’d find on even a lot of non-student cards. Read our review.

How The Capital One Savorone Compares To Other Cash Back Cards

Capital One Savor VS American Express Everyday Card | Best Cash Back Credit Cards Bracket

The Capital One SavorOne Cash Rewards card slots in nicely between two industry heavyweights: the Citi® Double Cash Card and the Chase Freedom Unlimited®. While there are some standard items across the board for all three, such as the $0 annual fee and great rewards, there are also some areas where each card excels.

For instance, the Citi Double Cash Card offers a 0 percent intro APR period for 18 months on balance transfers , followed by a variable APR of 13.99 percent to 23.99 percent. However, it has no introductory APR for purchases. It also gives you 1 percent cash back on purchases and 1 percent cash back when you pay for the purchases. This flat earning rate might appeal more to those who dont spend heavily in the SavorOnes bonus categories.

Alternatively, the Chase Freedom Unlimited has a welcome offer of $200 . The card comes with the same 3 percent cash back on dining at restaurants but combines that with great rates on travel and drugstore purchases rather than entertainment. Plus, youll earn 1.5 percent cash back on general purchases instead of the standard 1 percent.

If you spend more than $264 across dining, entertainment, or streaming services per month, you might want to consider upgrading to the Capital One Savor Cash Rewards card since youll easily offset the $95 annual fee with its stronger cash back rates.

Card name
  • $300 cash bonus after spending $3,000 on purchases within the first three months

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How We Chose The Best Capital One Credit Card

While these arent the only Capital One credit cards on the market, these are the ones weve identified as the most beneficial for our readers. We looked at the rewards rates offered on each card, any additional perks, ease of the redemption process and the sign-up bonuses that came with each to narrow the larger list to this group of seven cards.

Of course, Capital Ones other cards each have their own benefits. For example, most of the cards on this list also have a no-annual-fee version. Those cards tend to be better for beginners or those who dont spend enough annually to justify an annual fee.

As always, head to our Best Cards and Best Rewards Cards pages to see the best credit cards and best rewards credit cards currently available across all banks and issuers.

Best Capital One Cash

Capital Ones cash-back credit cards reward you for the purchases you make every day. Each of the four cards in this roundup offers unlimited rewards, so you earn more as you spend more, with no caps. Choose a card with benefit levels that pay the highest rewards for the categories you shop most or earn the same on all your purchases. Either way, your rewards wont expire as long as your account remains open, and you can redeem them whenever you want, with no minimum required.

The cards listed below fall into two product lines: Savor and Quicksilver. Both lines offer one full-featured card with an annual fee and one with fewer perks but no annual fee. All of the cards come with 24/7 customer service, free credit monitoring and Eno, a digital assistant that monitors your account for security issues and answers your account questions via the mobile app or text.

Keep reading to learn more about the best Capital One credit cards for cash-back rewards.

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How To Make A Payment To Your Capital One Mastercard

You can make a payment electronically through your banks online banking platform. You can also pay by using your banks telephone banking service, visiting a branch in person or using an ABM. Some restrictions may apply, contact your bank for further details.

How to pay through your financial institutions online banking site:

  • Log in to your banks online banking site.
  • Add Capital One Mastercard as a new payee using your 16-digit credit card number as your account number.
  • Make your payment to Capital One Mastercard.
  • It can take 2-3 business days for your online payment to post and your available balance will be updated within 2 business days.

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