2024.10 Replace: Surprisingly, this card has come again! It comes with a $750 welcome supply.
2023.2 Replace: This card is discontinued.
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Advantages
- $750 supply: earn $750 cashback after spending $7,500 within the first 3 months. That is the very best supply lately.
- Earn 2% cashback on all purchases.
- In case you have a Capital One Miles incomes card (akin to Capital One Enterprise), then you’ll be able to switch your cashback to Miles and enhance its potential worth.
- No international transaction charge.
Disadvantages
- $95 annual charge, waived for the primary yr.
- Capital One will pull all three main credit score bureaus (Experian, TransUnion, Equifax) for one bank card software!
- Capital One enterprise bank cards WILL be reported to your private credit score historical past (most different banks received’t report enterprise bank cards to your private credit score report). Subsequently, the steadiness on this card will have an effect on your private credit score rating, and this card will depend in direction of Chase 5/24.
Introduction to Capital One (C1) Miles
- You’ll be able to 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 so forth.
- You’ll be able to transfer your C1 Miles from one Miles incomes card to a different Miles incomes card at any time, and it’s also possible to transfer your cashback from a cashback incomes card to a Miles incomes card at any time. Nevertheless, 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 if you happen to shut the account, however you’ll be able to forestall shedding your C1 Miles by shifting the factors to a different C1 card beforehand.
- In case you have a Miles incomes card, C1 Miles could 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 so forth. If you happen to use C1 Miles on this approach, the worth is about 1.6 cents/level.
- You’ll be able to redeem your C1 Miles in direction of journey expense at a set ratio 1.0 cent/level. You may also redeem your C1 Miles in direction of some retailers present playing cards at a set raiot 1.0 cent/level.
- You’ll be able to redeem your C1 Miles in direction of assertion credit score at a set ratio 0.5 cents/level.
- In abstract, we estimate that C1 Miles are price about 1.6 cents/level.
Advisable Software Time
- We suggest you apply for this card after you’ve gotten a credit score historical past of at the least two years and you might be very comfy with the bank card recreation.
- [1/6 rule] You’ll be able to 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 if you happen to violate this rule, however there will likely be no laborious pull.
Abstract
This card is similar to Capital One Spark Miles. The main distinction is: it is a cashback incomes card whereas Spark Miles is a Miles earnings card. Cashback could be transformed to Miles, however Miles can’t be transformed to cashback. Subsequently cashback card is best within the Capital One system. The welcome supply is de facto good. In 2021, Capital One improved its Miles system so much, which makes this card extra useful. Now that C1 Miles are valued greater than 1 cent/level, its every part 2x incomes construction is enticing. The incomes construction on itself is much like Citi Double Money (DC) within the TYP system, and this card has an annual charge, however C1 Miles system has different good playing cards which have a very good incomes fee to work collectively. Word that Capital One will pull all three main credit score bureaus (Experian, TransUnion, Equifax) for one bank card software, and it is extremely tough to get authorised in case you have a number of current laborious pulls.
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Historic Affords Chart
Word: Typically there are $500+$1500 supply on this card. However the spending necessities after the primary $500 are big, so we don’t deal with them as sign-up bonus, we deal with them as spending bonus as a substitute.