2024.10 Replace: The brand new welcome provide is $250. Now Capital One renamed this SavorOne bank card ($0 annual price) to Savor, and discontinued the previous Savor bank card ($95 annual price), which could be very complicated.
2021.5 Replace: Capital One improved the incomes construction, now you can earn:
- 3% cashback on eating, grocery, leisure, and streaming.
Beforehand it was solely 2% on grocery and no bonus factors for leisure and streaming. This can be a good enchancment, and don’t neglect Capital One improved its Miles system loads in 2021.
2021.4 Replace: The hyperlink for $250 provide is damaged. The present provide is $200.
Be taught Extra
Advantages
- $250 provide: earn $250 money bonus after you spend $500 within the first 3 months. That is the very best provide on this card.
- 3% cashback on purchases at eating, grocery retailer, leisure, and streaming; earn 1% cashback on all different purchases.
- In case you have a Capital One Miles incomes card (comparable to Capital One Enterprise), then you possibly can switch your cashback to Miles and enhance its potential worth.
- No international transaction price.
- No annual price.
Disadvantages
- Capital One will pull all three main credit score bureaus (Experian, TransUnion, Equifax) for one bank card software!
Introduction to Capital One (C1) Miles
- You may earn C1 Miles with two sorts of playing cards: Miles incomes playing cards, or cashback earninng playing cards. Miles incomes playing cards primarily embody: Capital One Enterprise Rewards Credit score Card, Capital One VentureOne Rewards Credit score Card, Capital One Spark Miles for Enterprise. Cashback incomes playing cards primarily embody: Capital One Savor Money Rewards Credit score Card, Capital One SavorOne Money Rewards Credit score Card, Capital One Quicksilver Money Rewards Credit score Card, Capital One Spark Money Plus and many others.
- You may transfer your C1 Miles from one Miles incomes card to a different Miles incomes card at any time, and you too can transfer your cashback from a cashback incomes card to a Miles incomes card at any time. Nonetheless, you cannot transfer your Miles from a Miles incomes card to a cashback incomes card, subsequently cashback is extra versatile than Miles in C1’s system.
- C1 Miles by no means expire. You’ll lose the C1 Miles on one card in case you shut the account, however you possibly can forestall dropping your C1 Miles by shifting the factors to a different C1 card beforehand.
- In case you have a Miles incomes card, C1 Miles might be transferred to some airline miles and lodge factors. Some good 1:1 switch choices are: Air Canada (AC) (Star Alliance), Avianca (AV) (Star Alliance), Asia Miles (CX) (Oneworld), British Airways (BA), and Wyndham lodge factors, and many others. When you use C1 Miles on this means, the worth is about 1.6 cents/level.
- You may redeem your C1 Miles in the direction of journey expense at a hard and fast ratio 1.0 cent/level. It’s also possible to redeem your C1 Miles in the direction of some retailers reward playing cards at a hard and fast raiot 1.0 cent/level.
- You may redeem your C1 Miles in the direction of assertion credit score at a hard and fast ratio 0.5 cents/level.
- In abstract, we estimate that C1 Miles are value about 1.6 cents/level.
Advisable Software Time
- We advocate you apply for this card after you might have a credit score historical past of a minimum of two years and you might be very comfy with the bank card recreation.
- [1/6 rule] You may solely apply for 1 Capital One bank card for each 6 months, together with each private and enterprise bank cards. You’re going to get computerized denial in case you violate this rule, however there can be no arduous pull.
Abstract
The signup bonus is respectable for a no annual price card. Other than that, the key level of this card is 3% cashback on eating and grocery. Be aware that the cashback worth might be improved you probably have the Enterprise card. It’s also possible to take into account Capital One Savor (4% cashback on eating and leisure however with $95 annual price) in case you dine out loads. Be aware that Capital One will pull all three main credit score bureaus (Experian, TransUnion, Equifax) for one bank card software, and it is vitally troublesome to get authorised you probably have lots of current arduous pulls.