We Boiled Down The Best Capital One Credit Cards For 2021 Theres Ample Opportunity To Earn Heaps Of Credit Card Rewards
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Whether you’re looking for airline miles or small-business rewards, Capital One has a credit card that will suit your needs while earning you heaps of credit card rewards.
We analyzed cards on ValuePenguin and on Capital Ones site to pick the best Capital One credit cards based on the value of each card’s sign-up bonus, ongoing rewards and other ancillary benefits.
How To Apply For A Capital One Credit Card
You can apply for a Capital One credit card through one of our links below, calling Capital One directly or using the Capital One website.
To apply for a Capital One credit card, you will need basic contact information, your yearly income, checking/savings account information and a valid Social Security number. Once you apply, the bank will begin checking your credit score to see if it qualifies for the specific card you applied for. Once all of this is gathered, Capital One will determine if you are approved or not.
If you are declined for a card, it is best to give Capital One customer service a call. Give these numbers a try:
- Application Services: 800-625-7866
- Application Status: 800-933-5182
Capital One Venture X Credit Card Perks
Without a doubt, the two best perks on the new Capital One Venture X card are the $300 annual credit for bookings made via Capital One Travel and complimentary access to Capital Ones new airport lounges.
If you can use the entire $300 credit on travel bookings each year which shouldnt be difficult given that Capital One Travel provides access to most flights and hotel rooms it effectively reduces your out-of-pocket cost for the card to an extremely reasonable $95, an excellent value if you can utilize even a few of the cards additional perks.
But theres also the 10,000 bonus miles that all card holders receive starting at the beginning of the second year you have the Venture X, and every year thereafter. Those 10,000 bonus miles are worth $100 when redeemed through Capital One Travel or by using the cards Purchase Eraser, which effectively covers the remainder of the $395 annual fee.
As far as the issuers new lounge network, CNN Underscored got a sneak peek of the first new lounge in Dallas last month, and came away extremely impressed with its excellent natural light, ingenious use of space, delicious cocktails and acute attention to detail. Its a major step up from the competing Amex Centurion Lounge, also located in DFWs Terminal D.
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Changes To Your Credit Card
So what exactly happens when you upgrade or downgrade a card instead of applying for a new one? Youll keep the same account just with a new card so the following things will stay the same:
- Your card number does not change, but your CVV and expiration date will change, so youll need to update any automatic payments.
- Your current rewards balance will carry over to your new card. If you switch from a card that offers cash back to one that offers miles, you will receive 100 miles for every dollar in cash back youve earned.
- Your credit limit and APR will also stay the same.
Keeping the same card number, credit limit and APR make it easy to manage your new card, as the following features will change when you upgrade or downgrade:
- Your rewards rate will change as reflected in the new cards terms and conditions. Youll start earning your updated rate within two to three business days.
- You wont receive a new introductory offer or qualify for the new cards intro APR .
- If you downgrade from a card with an annual fee to one without a fee, you are responsible for any fee charged prior to the product change.
- Youll receive a new card with the same card number, but updated card art, security code and expiration date within seven to 10 business days.
My Thoughts How To Convert Amazon Gift Card To Paypal
Adding your Amazon gift card balance to an existing PayPal account may be accomplished in a matter of minutes by following a few simple steps. All you need is a clear understanding of which strategy will work best for you and which will not.
However, the procedures for both approaches are extremely different but it fully relies upon what you are most comfortable with. As a result, always choose the method that appears to be trustworthy to you and will assist you in transferring your valuable funds from your gift card to your PayPal account.
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Best Travel Capital One Card
Who’s this for? The Capital One Venture Rewards Credit Card is a great choice for travelers that aren’t loyal to a particular hotel chain. This card offers one of the best rewards programs for travel, especially hotel bookings. Cardholders earn 2X miles on all purchases, plus 5X miles on hotel and rental cars booked through Capital One Travel.
Typically you could only redeem rewards as a statement for past travel purchases, but Capital One recently added the option to redeem miles for restaurant delivery, takeout and streaming services through April 30, 2021.
A noteworthy perk of this card is a Global Entry or TSA PreCheck application fee credit every four years worth up to $100. If you travel through airports often, this benefit can save you time and money.
While Venture does come with a $95 annual fee, it’s low compared to some other travel cards with annual fees over $500. This card has no foreign transaction fees and comes with a variety of travel perks, such as travel accident insurance, 24-hour travel assistance services and an auto rental collision damage waiver.
How Overpaying A Credit Card Can Happen
Overpaying your credit card may not happen often. But if it does, youâll probably want to know how it happened.
Here are a couple of ways you might end up overpaying your credit card account.
Making Manual Payments
Manual payments give you the flexibility to pay what you want, when you want. But itâs also easy to overpay when making manual payments.
You might accidentally add an extra digit or hit the wrong button when paying online. Or, if youâre chipping away at your balance with multiple payments, you might accidentally pay your credit card company more than you meant to.
If youâre worried about paying the wrong amount, you may want to consider setting up automatic payments. They can help you make on-time payments without overpaying. And you have options when it comes to how much you pay. You can set up automatic payments to make your minimum payment or pay your last statement balance. Or you can choose your own fixed monthly payment.
Getting a refund from a merchant is another way you might overpay your credit card. If you pay off your balance before getting a refund, that refund would result in a credit balance.
Letâs say you make a purchase for $100. But then you decide to return the purchase for a refund. If you pay off your credit card balance before you receive the refund, youâll end up with a credit balance of $100 once the refund is credited to your account.
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Capital One Credit Card Bonuses
We’ve highlighted below the bonuses currently available from Capital One credit cards. To earn the bonus for each card, it requires that you spend a minimum amount within the first three months to earn the bonus. Occasionally, cards will offer an additional bonus, not listed below, for hitting a larger spending target over the course of a year. Depending on your budget, this may impact your ability to earn the bonus.
|$500 Cash Back once you spend $4,500 on purchases within the first 3 months from account opening|
|Capital One Spark Miles for Business||Earn a one-time bonus of 50,000 miles equal to $500 in travel once you spend $4,500 on purchases within the first 3 months from account opening.|
|Capital One® Spark® Miles Select for Business||One-time bonus of 20,000 miles once you spend $3,000 on purchases within 3 months from account opening|
Best For Dining: Capital One Savorone Cash Rewards
Earn $200 cash bonus once you spend $500 on purchases within the first 3 months from account opening.
|Rewards Earning Rate||Earn 3% cash back on dining, entertainment, popular streaming services and at grocery stores, plus 1% on all other purchases. Plus, earn 8% cash back on tickets at Vivid Seats through January 2023.|
|INTRO PURCHASE APR||0% for 15 Months|
|Balance Transfer Fee||3% of the amount of each transferred balance that posts to your account at a promotional APR that we may offer you. None for balances transferred at the Transfer APR.|
|Foreign transaction fee|
- Why We Chose This Card:
- Pros & Cons:
We chose the Capital One SavorOne Cash Rewards Credit Card as the best dining card from Capital One because of its 3% cashback earnings at restaurants coupled with its no annual fee. While the Capital One Savor has a slightly higher earning rate on dining, we like the fact this card has most of the benefits without the yearly cover charge. Like all Capital One cards, SavorOne charges no foreign transaction fees, which can make it an ideal card for dining on vacations as well.
Generous cash rewards on dining and entertainment
Doesnt impose some frequent fees
Access to premium experiences
0% APR introductory offer is less generous than most
Small introductory cash bonus
Read the full Capital One SavorOne Cash Rewards credit card review
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Purchase A Prepaid Gift Card
Buy a prepaid gift card with your credit card and then sell it to someone for cash. You may have to accept a little less than the face value of the card to incentivize someone to purchase it from you, but there are several online marketplaces to assist you like Giftcard Granny and Raise, to name a few. Just make sure whatever discount you offer is less than what you would have paid in cash advance fees and interest.
If you have accumulated credit card rewards, you may be able to redeem them for a gift card, sometimes even for more than face value. For example, you may be able to get a $25 gift card for rewards worth $20.
Ways To Avoid Extra Fees And Interest
In a pinch, fast access to cash can help you cover an emergency or unexpected crisis. But one of the most unattractive aspects of is how expensive they can get. Not only is the interest rate usually higher than on regular credit card purchases, but youll typically have to pay a fee as well.
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Earn Rewards On All Your Purchases
The card gives 1.5% cash back on everything you buy. The introductory bonus is a nice, quick pop thats easy to obtain. Both are very competitive among no-annual-fee cards. Speaking of fees, the Quicksilver doesnt charge foreign transaction fees, either.
The total package is tough to beat. There are some cards that offer more cash back on every purchase, but they typically fall short in at least one of these other areas. Perhaps their sign-up bonus is lower or they charge annual or foreign transaction fees.
I also like that the Quicksilver delivers rewards daily, as transactions post. Most of our best credit cards make you wait until your monthly statement closes. I typicallyredeemed my cash back for statement credits, although its possible to get a check or a gift card. Cardholders can also donate rewards to charity or offset Amazon.com purchases.
Quicksilver rewards are very straightforward. Theres no need to calculate point values or ratios. Rewards are represented in terms of dollars and cents . And theres no minimum redemption threshold. It doesnt get much easier than this.
If you have other credit cards that give more than 1.5% cash back in some categories but less in others, the Quicksilver can help you earn more rewards in those categories you arent able to maximize elsewhere. You can earn even more rewards by using Capital One Offers, a free online shopping portal for Capital One cardholders. It delivers enhanced rewards at certain retailers.
Capital One Cash Advance Fees
Most cards, including Capital One credit cards, have cash advance fees. For Capital One cards the cash advance fee is typically 3%, with a $10 minimum.
You may incur ATM fees, too. If you use an ATM outside of Capital Ones network, including generic ATMs like MoneyPass and Cardtronics, youll likely pay fees in addition to those outlined in your account terms. Usually, ATM surcharges are between $2$5 if youre not an account holder with the financial institution that manages the ATM.
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Is Capital One A Good Credit Card Provider
Our survey also reveals how Capital One customers rated the provider across 10 categories.
Find out in the table below how Capital One scored for its application process, online account management, telephone banking, mobile app, statement clarity, transparency of charges, overseas usage fees, customer service, query handling and complaint resolution.
|Capital One credit card customer satisfaction category||Star rating|
|Charges for using your card abroad||
3 out of 5
|Dealing with complaints and resolving problems||
3 out of 5
|Ability to manage account online||
4 out of 5
|Ability to manage account by telephone||
3 out of 5
|Mobile app on a smartphone or tablet||
4 out of 5
Star ratings out of five show levels of satisfaction for each category. Where no stars are given, we received too few responses in our survey to award a score.
How Does A Cash Advance Work
A cash advance isnât like using your debit card to get cash. The money doesnât come from your bank account. Instead, itâs added to your credit card balance. And a cash advance can come with fees and higher interest rates than typical credit card purchases do. So while it may be convenient, it can be more expensive than making a purchase on your credit card.
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How To Get A Cash Advance If Your Credit Card Doesnt Have A Pin
If your credit card doesnt have a PIN, you can still use your Capital One credit card to take out a cash advance in a brick and mortar banking location that displays the Visa and Mastercard logos.
According to Capital One, you will need to provide a government-issued photo ID along with your credit card if you go this route.
Also, keep in mind that your credit card may also send out convenience checks that can work similarly to a cash advance. All you have to do to use a convenience check is make it out to yourself. From there, youll head to your bank and deposit the check or ask for cash.
Is The Capital One Venture Rewards Credit Card For You
If 2% cash-back cards didnt exist, the Venture card would be the go-to all-around card for travelerssomething wed often recommend be paired with a card that earns even more in certain categories. Its 2 miles per dollar spent is fantastic, but its redemption limitations arent. The travel benefits are great, but the lack of low introductory APR means it isnt a good card for balance transfers.
This card works for people whose major focus in the realm of card rewards is travel redemptions. For those customers, wed also recommend pairing it with another card for more leverage on spending. For those who want more flexibility from their all-around rewards card, there are plenty of cards that are just as rewarding as the Venture, but without an annual fee.
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What To Consider Before Getting Your First Credit Card
1) Check your credit history. Your credit score is a three-digit number that tells lenders what a borrower is like. 2) Understand your personal finances. It is very important to check your finances when you get your first credit card. 3) Read about the interest rate comparison. To get your first credit card, it’s important to understand how interest rates work. 4) Compare the benefits to get more profit. Every credit card has different conditions. Some offer significant rewards, such as travel refunds or cash back, to increase loyalty, while others do not. 5) Read the fine print about fees. Credit card companies charge for a number of reasons. 6) See the introductory sentences. Some credit cards offer a significant bonus just for receiving the card. 7) Consider the implications of credit card debt. While credit cards can help you in many ways, credit card debt is considered one of the most damaging forms of debt. 8) Make the minimum payment.and more. It is imperative that you pay the minimum amount each month. 9) Prepare to apply. Applying for a credit card is simple and straightforward. You can apply online with a lender. 10) Keep your credit card safe. Once you’ve received your credit card, you’ll want to protect it from fraud and theft.