Wednesday, February 1, 2023

What Credit Card Is Better Discover Or Capital One

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Who Has The Better Customer Service Reputation

Capital One vs. Discover – Is one credit card company better than the other?

Capital One offers 24/7 customer service by phone, as well as email responses in one to two business days. There is no online chat feature available. Capital One representatives are knowledgeable about their products and provide detailed answers.

Credit One has automated customer service available by phone 24/7, but that only covers account information and lost or stolen card services. The automated phone system has few options to direct you to a representative. Other customer service lines are staffed at various times, generally during business hours and daytime on the weekends.

As is the case with many banks, both Capital One and Credit One are the subject of many complaints in consumer forums. In terms of customer service availability, Capital One beats out Credit One. In general, it helps that Capital Ones card terms and payment options are clearer than Credit Ones.

Capital One Bank Vs Discover Vs Chase Online Banks: Bottom Line

Online banking has grown in popularity in recent years and its now possible to handle all of your banking needs without visiting a physical bank. Capital One Bank, Discover, and Chase all offer online banking services, so if youre looking to open an account, take the time to consider these options.

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# 5 Additional Visa Perks

The Petal 1 No annual fee visa credit card that offers you several Visa Perks, which include the following:

  • Automobile Rental Collision Insurance is a secondary rental automobile coverage policy that covers you in case of damage or theft of your rental automobile if you paid for a rental using Petal 1 Credit Card.
  • Lost or Stolen Card Assistance is another worst-case scenario policy that covers you in case of loss or theft of your card. You can easily get an emergency replacement card, and you just have to contact Visa.
  • Roadside Dispatch is another critical service offered by Visa. If your vehicle breaks down, you just have to call Visa Office, and you will be dispatched to the roadside assistance team.
  • Uber Credit via Visa Offer: If you registered Visa through your Uber account, you would automatically earn Uber Credit points whenever you purchase Visa Offers using the card.

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Capital One Quicksilver Secured Cash Rewards Credit Card Vs Petal 1 No Annual Fee Visa Credit Card

If you can qualify for a card that doesnt require a security deposit, the Petal® 1 No Annual Fee Visa® Credit Card could be worth a look. Petal may use a Cash Score to determine eligibility for eligible applicants that dont have a credit score. Like some secured cards, it offers the opportunity to step up to a more robust credit line in as little as six months. The Petal® 1 No Annual Fee Visa® Credit Card also offers some rewards, but only at select merchants so the card may not reward you as consistently as the Quicksilver Secured.

Now Lets Dig Into Some Of The Capital One Benefits

Discover it® Secured vs. Secured MasterCard® from Capital ...
  • Personalized payments for secured cards Pick your own monthly due date and payment method including check, online or in-person. This lets you take control of your credit rebuild by aligning credit payments with cash flow to ensure youre always on time.
  • Complimentary concierge service Savor cardholders enjoy 24/7/365 concierge service for dining, entertainment and travel bookings, helping you make the most of the cash back youre earning everyday.
  • Venture Rewards miles transfer Transfer miles earned on your VentureOne rewards card to popular travel partners including Qantas, Finnair and EVA Air, giving you the ability to spend miles where they offer the greatest benefit.
  • Virtual card numbers Pay for purchases securely online with virtual card numbers from Eno. Your actual card number is kept secure, letting you pay for everyday purchases and big-ticket items online with confidence.

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Capital One Platinum Credit Card Vs Discover It Secured Credit Card

The Discover it® Secured Credit Card is a secured card meaning you’ll have to put down a security deposit that will determine your credit line but comes with the potential to earn a sign-up bonus and ongoing rewards. After eight months, Discover begins automatic reviews to determine if you can transition to an unsecured credit line and have your deposit returned. If you decide to close your account, you’ll receive your deposit back.

Secured cards rarely offer a sign-up bonus, but Discover gives you an Unlimited Cashback Match only from Discover. Discover will automatically match all the cash back youve earned at the end of your first year! Theres no minimum spending or maximum rewards. Just a dollar-for-dollar match. . The card also offers 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter, 1% unlimited cash back on all other purchases – automatically.

The Discover it® Secured Credit Card will almost always be a better option for most people, so long as you’re comfortable with putting a security deposit down to open a card.

About Capital One Bank

Capital One might be better known for its credit card offerings, but it has spent the past few years expanding its banking services. The company started opening physical locations, called Capital One Cafés which combine the services youd expect at a bank with the atmosphere and drink menu of a café.

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Discover Vs Capital One: Key Features Compared

Some similarities stand out for both cards. These include:

  • Both cards require you to put down a security deposit
  • Neither of the cards charges you an annual fee nor any foreign transaction fees
  • Both cards can be offered to people who are trying to rebuild their credit, although approval isnt necessarily guaranteed because there are income as well as other requirement thresholds to be met

Lets take a closer look at these features side by side to try and determine which credit card is the best for you.

Blue Cash Everyday From American Express: Best For Groceries

Capital One Platinum VS Discover It: Battle of the Starter Cards

Why its great in one sentence: The Blue Cash Everyday card offers a generous introductory interest rate on purchases for 15 months while also earning 3% cash back at US supermarkets and 2% back at US gas stations, all with no annual fee .

This card is right for: People who want to temporarily avoid high interest rates on their purchases, but who also spend a significant amount of their budget at US supermarkets and gas stations.

Highlights:

  • Earn 3% cash back at US supermarkets on up to $6,000 per year in purchases .
  • Earn 2% cash back at US gas stations and select US department stores.
  • Earn 1% cash back on everything else.
  • Cash back is earned in the form of reward dollars that can be redeemed as a statement credit.
  • 0% APR on all purchases for the first 15 months .
  • Car rental loss and damage insurance included.
  • No annual fee.
  • Terms apply.

Welcome bonus: Earn $200 cash back as a statement credit after you spend $2,000 in purchases on your new card in the first six months after opening the account.

What we like most about the Blue Cash Everyday: For many Americans, a significant portion of the monthly family budget goes to supermarket and gas station expenses. The no-annual-fee Blue Cash Everyday card dials up the bonus cash back on those two categories, creating a go-to in your wallet for two routine purchases.

Related: Amex Blue Cash Preferred vs. Blue Cash Everyday: Which is best for you?

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Capital One Ventureone Rewards: Best No

Why its great in one sentence: One of the few no-annual-fee credit cards with both transfer partners and easy-to-redeem direct redemptions already built in, the Capital One VentureOne features a lower earning rate than its more expensive brother but offers the same solid redemption options.

This card is right for: People who like the features of the Capital One Venture, but are willing to exchange a lower everyday earning rate for no annual fee.

Highlights:

  • Earn 1.25 miles per dollar on all purchases with no limit
  • Redeem miles for any travel purchase at a rate of 1 cent per mile
  • Miles can also be transferred to any of Capital Ones 19 airline and hotel partners
  • 0% APR on all purchases for the first 12 months
  • No foreign transaction fees
  • No annual fee

Sign-up bonus: Earn 20,000 bonus miles after spending $500 on purchases in the first three months after opening the account.

What we like about the Capital One VentureOne: Usually when there are two versions of the same credit card one with an annual fee and another without you can expect the one with no cost to be a fairly stripped-down offering. But thats not necessarily the case with the Capital One VentureOne.

Most of the features of the more expensive Capital One Venture remain intact on the VentureOne, including the same 1 cent per mile redemption value when using the cards Purchase Eraser to wipe out any travel charge.

Where it beats our benchmark card: Sign-up bonus, purchase protections, travel protections.

Best Student Credit Cards

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Student credit cards are designed for students meaning people with limited or no credit history, and relatively low income. But before you get one, it’s important to understand how credit cards impact your credit history. If you use a credit card irresponsibly you could end up with lots of expensive debt, negative items on your credit reports, or both.

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Lower Credit Limits Card Closures Coming From Capital One And Discover

Citing mounting concern about the economy, these two major credit card issuers are both tightening the credit reins as a precautionary measure as our robust economic cycle gets a little long in the tooth.

Weve been talking caution for really probably two 2.5 years at this point relative to credit lines, Capital One Chief Executive Richard Fairbank said on the companys earnings call.

But within the last year or so, weve even kind of further dialed back on initial linesnot because of anything that we see in our own portfolio but really more out of this just kind of intuitive concern about the marketplace.

The Capital One CEO went on to rattle off a list of early warning indicators like rising interest rates, growing government deficits, trade-related issue and also cumulatively some of the effects thats been going on with consumer indebtedness.

Meanwhile, Discover CEO Roger Hochschild tells The Wall Street Journal his company is clamping down on its credit exposure in three ways:

  • Reducing the volume of balance transfer offers to high-risk customers
  • Canceling inactive credit cards
  • Approving fewer personal loans

Capital One Savorone Cash Rewards Credit Card

Capital One Secured Mastercard Review: A Winner?

Annual fee: $0

Sign-up bonus: Earn a one-time $200 cash bonus after you spend $500 on purchases in the first three months from account opening.

Rewards: Earn unlimited 3% cash back on dining, entertainment, popular streaming services and grocery stores and 1% on everything else.

Benefits: The Capital One SavorOne Cash Rewards offers high cash-back returns on some of your most popular everyday purchase categories. Theres no limit to rewards youll earn, and you can redeem your rewards for pure cash back. Its unlikely that a no-annual-fee cash-back card offers as many bonus categories, but the SavorOne does it all. To tie it all together, enjoy no foreign transaction fees when you use this card internationally.

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Capital One Credit Cards Vs Discover Credit Cards: Which Is Best For You

Discover has a history of disrupting the credit card market. It offered some of the countrys first no-fee credit cards and is now expanding its lineup to include secured, travel rewards and cash back options. Capital One, meanwhile, is a well-known and trusted credit provider across the United States with its own stable of credit-building, miles-earning and cash rewards cards.

But which companys credit offerings best meet your needs? Lets break it down.

How Old Do You Have To Be To Get A Credit Card

You have to be at least 18 years old to open a credit card on your own. If you’re younger, a parent or other relative may offer to add you as an authorized user on one of their cards. Being an authorized user might help your credit, but the account won’t be in your name.

If you’re under 21 years oldeven if you’re a full-time studentthe federal requires you to have enough independent income or assets to afford the card’s minimum payment. You’ll also need enough income or assets to support a higher minimum payment if you want a credit limit increase.

The independent income could be from a part- or full-time job or a regular allowance that a relative sends. However, unless someone cosigns your credit card application , you can’t include their income.

Once you’re 21 or older, you can include another person’s income on your application if you have a reasonable expectation that you can access the funds. A common example is a stay-at-home spouse who uses their working partner’s income to qualify for a credit card.

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Capital One Platinum Secured Review

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The Capital One Platinum Secured stands out for requiring a lower upfront deposit than other secured cards, at least for some customers. There’s also the ability to pay the deposit in installments, along with a fast process for potentially increasing the card’s credit line after that. It’s a basic card with few frills but also few charges, including no annual or foreign-transaction fees.

Bonus Perks And Card Benefits

Capital One Secured Card and Discover it Secured Card Which is Best?

The Wells Fargo Propel card has a few different bonus perks, the most useful of which is probably cellphone protection. Youll get up to $600 of protection if your phone is stolen or damaged in covered instances, as long as you pay your monthly cellphone bill with your Propel card.

In addition, the Propel card charges no foreign transaction fee and an introductory 0% APR on qualifying balance transfers and purchases for the first 12 months with a 14.49%-24.99% APR thereafter.

The Capital One Venture card also has no foreign transaction fees for easy use while traveling abroad, as well as a few interesting travel-related perks.

For instance, every four years, you can get the application fee for either Global Entry or TSA Precheck refunded as a statement credit. The fee for Global Entry is $100 and the fee for TSA Precheck is $85. Though you wont use it every year, this benefit goes a long way toward offsetting the cards annual fee.

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# 1 Lack Of Introductory Apr

Like many other cards in the same segment, the Petal 1 No annual fee visa credit card does not offer you an introductory APR. Having an Introductory APR gives you some relief from hefty interest rates on purchases made by you.

Instead, it charges you the Regular Variable APR of 19.99-29.49%, depending upon your creditworthiness. These rates ranging from 19.99%-29.49( can be lower or higher than many cards in the same segment since you are charged a certain amount based on your creditworthiness.

On the other hand, Discover It Secured Card offers you an introductory APR of 10.99% for 6 Months on all purchases you make. Then, it charges you the Regular APR of 22.99%.

Chase Freedom Unlimited: Best For Flexible Rewards

Why its great in one sentence: If youre on the fence about whether youd prefer to rack up cash back or travel points, the Chase Freedom Unlimited allows you to do both when paired with the Chase Sapphire Preferred or Chase Sapphire Reserve card.

This card is right for: People who want maximum flexibility in a no-annual-fee credit card.

Highlights:

  • Earn 5% cash back on travel purchases made through Chase Ultimate Rewards, 3% on dining and 3% at drugstores.
  • Earn 1.5% cash back on all other purchases.
  • Expert users can convert the cash back to flexible travel points when pairing the Freedom Unlimited with a Chase Sapphire Preferred or Reserve card.
  • 15-month 0% introductory APR on purchases .
  • No annual fee.

Sign-up bonus: Earn $200 bonus cash back after you spend $500 on purchases in your first three months after opening the account, plus 5% cash back on grocery store purchases on up to $12,000 spent in the first year.

What we like about the Chase Freedom Unlimited: If you prefer cash back now but think that a dose of adventure is in your future once travel returns to normal, the Chase Freedom Unlimited can give you the best of both worlds.

Chase also added three bonus categories to the Chase Freedom Unlimited in 2020. Both new and existing card holders now earn 5% cash back on travel purchases made via Chase Ultimate Rewards, 3% cash back on dining including takeout and delivery and 3% cash back at drugstores, along with 1.5% cash back on all other purchases.

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