Credit cards have become vital for our needs since they are required to pay for every other activity we need. If we need to travel, we would need to pay for gas, and the convenient way to do that will be through a credit card. If you are buying groceries, which are now really costly, you will carry a credit card as it is safer than cash. So the world is surrounded by people doing digital transactions involving credit cards.
From a student to an employee or employer, you will need a credit card to pay utility bills or for some service like Netflix, Spotify, etc. Most people use credit cards to pay these bills since carrying cash is becoming obsolete. Starting your journey in the credit card world would mean developing your credit score to get to the high-tiered credit cards. That journey should start by purchasing a Capital One credit card.
This article will consist of the various Capital One Credit cards people can apply for based on their needs. We will also discuss the benefits and drawbacks of selecting Capital One cards. The guide further included the best Capital One credit cards users use. A FAQs section is also added to answer general questions related to Capital One cards.
Types of Capital One Credit Cards
Capital one has a huge line of credit cards that people can apply for considering their preferences. Some of the most famous credit cards include travel reward cards that can get you to travel points or cashback cards that will save you money on dining, etc. Similarly, you can get a credit card to pay back the debt you took from a creditor. In this section, we will talk about the different Capital One credit cards you can apply for if you choose this credit card company.
The following are the credit cards that Capital One offers to the people
Travel Rewards Credit Cards
Capital One offers travel credit cards in lower quantities, but they are valued very high in the market due to their features. Many people seeking travel reward cards approach Capital one as their cards have had a great reputation in the market for years. The rewards that come with the travel cards aid in expenses like accommodation, transport, etc. So it helps travellers save a lot of money on any vacation. Several frequent travellers use the Capital One Venture Travel cards for special perks.
Cash Back Credit Cards
The Capital one cashback credit cards are well-known for their usage when buying groceries or using it for travel expenses and other entertainment. With these cards, you earn on every purchase, particularly in those sections that get you a high cashback rate.
The company offers various types of cashback cards; some of them include unlimited cashback cards, flat-rate cashback cards, etc. The flat-rate cashback cards have a rate of up to 2% on every transaction. In contrast, the cashback cards for the bonus categories have rates like 3% cash back on travel purchases or 4% cash back on dining and entertainment and 1% on all the other purchases.
Secured Credit Cards
Capital One also offers secured credit cards to help people improve their credit rating or build a credit score to purchase better credit cards. Although secured credit cards have low limits, if you keep making on-time payments, you can qualify for upgrading your spending limit or having a new credit card. Capital one will ask you to submit a deposit to secure your card, and that deposit will be considered as collateral to help you prevent defaulting. With capital One, you will only need to pay a small amount of safety deposit with minimal annual fees.
Business Credit Cards
Business credit cards operate similarly to personal credit cards with one major difference: they are directed to the business side of expenses. So the rewards will be designed similarly. Your personal credit score will not always be questioned when you apply for business cards, but at times, creditors look into that.
Capital One Business credit cards are popular among many people as the company will report your business card activity to major credit bureaus. People owning a sole proprietor business can also apply for these credit cards. Moreover, choosing a Capital One Business credit card will be geared towards special bonuses and rewards, including separating your business expenses from personal expenses.
0% Intro APR Credit Cards
Many creditors offer 0% Intro APR credit cards, and Capital One is amongst them. These cards can work for both new purchases that a person makes or on-balance transfers to transfer funds for less interest payment. There is always a promotional period under which all transactions and payments should be made to avoid paying high interest. Capital one is one of the few companies in the market that claims to provide good balance transfer offers to help consumers pay off debt without paying any interest.
Pros and Cons of Capital One Credit Cards
This section will list the benefits and drawbacks of choosing Capital One credit cards, particularly for someone who has not owned a credit card before. Let’s get to it!
Pros of Capital One Credit Cards
The following are the pros of Capital One cards
Credit Card Variety
The company has introduced several credit cards from which the users can choose when they need to buy one. Each user has a specific spending habit, so they will select a card that will satisfy their wants and needs. Hence, having a wide range of credit cards is always helpful as it gives people various choices.
Credit Range
Capital One credit cards are built in a way that facilitates those who have a low credit score. Some people approach the company to improve their creditworthiness to get better credit cards. So if you are looking for a credit card but have a bad credit rating, Capital One can help you with that and get you a credit card.
Travel Benefits
The Capital One credit cards offer users several travel benefits, including travel insurance, which will provide coverage for the luggage. The benefits extend to travel points that can be redeemed at any time, and the miles can be added when the person travels to any place. The travel rewards do not expire, so you can use them whenever you like.
No Foreign Transaction Fees
One of the best things about Capital One is that they do not charge their clients a foreign transaction fee, which is a good thing for the users. Incurring no foreign transaction fee would mean that the overall expense would be less, and the person would need to pay less principal plus interest.
Good Cash Back Options
Depending on user spending habits, the company provides some of the best cashback options in the market. Each user has a different buying limit, so purchasing a flat-rate credit card with the same amount of cashback on each purchase would be better. However, some users frequently make transactions, so getting an unlimited cashback option will benefit them.
Cons of Capital One Credit Cards
The following are the cons of Capital One cards
Annual Fees
Several Capital, One credit cards charge an annual fee from the credit card users. But if you choose a credit card that charges an annual fee, you will need to pay it. However, certain cards have waived off the annual Fee for the first year, giving some breathing room to the users who have to pay that amount as an expense.
Regular APR
The cards that Capital One offers to the people come with a high APR that will increase the overall expense those people will have to bear. A high APR would mean that the balance a person would need to pay is relatively higher than those card companies that charge lower APR.
Less Travel Partners
Many other credit card companies in the market have partnered with different businesses worldwide. However, Capital One have fewer travel partners, so the probability of you finding a hotel linked with your credit card company would be less. It would also mean you cannot fully enjoy the credit card’s perks in some places that do not accept it.
Limited Added Cardholder Benefits
The card comes with restricted cardholder benefits relative to other card issuers in the market. For example, you cannot travel points to choose a good hotel for your vacation. With a high APR, you will need to pay more than other creditors’ offerings.
Lower Reward Rates
One of the biggest drawbacks of choosing a Capital One credit card is that it can earn higher rewards than other card issuers. Getting lower rates would yield a lesser amount of money than you are spending on purchases. This would mean that a person who uses a Capital one card is getting lesser reward rates and includes cashback cards.
Best Capital One Credit Cards
In this section, we will discuss the top credit cards that Capital One has to offer to the people. Each credit is specific to the features it offers to the people, so a person should do their due diligence before purchasing it. Since there are many credit cards to choose from, understand your spending habits and then purchase the one that suits your needs.
The following are the best Capital One credit cards that you can get
Capital One Quicksilver Cash Rewards Credit Card
Capital One Quicksilver Cash Rewards Credit Card is a good flat-rate rewards card. It is considered the best card for Simple Cash Back. This credit card has an unlimited 5% cash back offer for payments of hotel rooms and rents for cars booked via Capital One Travel. You can get an unlimited 1.5% cash back offer for any purchases of everyday usage. Also, it offers $200 as an intro offer for the first three months if you spend $500 on your purchases.
To qualify for this card, users must have a good to excellent credit score ranging from 670 to 850. Users must maintain a regular APR of 16.49% to 26.49% Variable. Users can redeem their cash back amounts as a check or statement credit. Also, users can use cashbacks for online purchases at PayPal, Amazon.com, or gift cards. The card does not charge any annual fee or foreign transaction fee.
Features of the Capital One Quicksilver Cash Rewards Credit Card are
- Recommended credit: 670 to 850 Good to Excellent
- Intro Offer: $200
- Regular APR: 16.49% to 26.49% Variable
- Annual Fee: $0
- Balance Transfer fee: 3% for the first 15 months
- Foreign transaction fee: None
- Best for Simple Cash Back
Pros:
- It does not charge any annual fee or foreign transaction fees.
- It provides flexible rewards for travel and shopping via Capital One.
- It offers an introductory purchase of 0% and a low balance transfer APR for fifteen months.
Cons:
- Other cards offer a low Variable APR.
- It charges a 3% balance transfer fee.
- It does not offer any redemption options for rental cars or flights.
Capital One SavorOne Cash Rewards Credit Card
Capital One SilverOne Cash Rewards Credit Card is considered the best card for dining and entertainment purposes. This credit card has an unlimited 5% cash back on all rental car purchases via Capital One Travel and hotel rooms; a 3% cash back offer for payments on dining, streaming services, entertainment, and grocery stores. You can get an unlimited 1% cash back offer for all other purchases. Also, it offers $200 as an inviting offer for the first three months if you spend $500.
To qualify for this card, users must have a good to excellent credit score ranging from 670 to 850. Users must maintain a regular APR of 16.49% to 26.49% Variable. Users can redeem their cash back amounts as a check, gift cards, or statement credit. Also, users can use cash- backs for online purchases at PayPal and Amazon.com. The card does not charge any annual fee or foreign transaction fee. But users have to pay $40 as a late payment penalty and a 3% balance transfer fee.
Features of Capital One SavorOne Cash Rewards Credit Card are
- Recommended credit: 670 to 850 Good to Excellent
- Intro Offer: $200
- Regular APR: 16.49% to 26.49% Variable
- Annual Fee: $0
- Balance Transfer fee: 3%
- Foreign transaction fee: None
- Best for: Dining and Entertainment
Pros:
- Users can easily fulfil the requirements and earn a welcome bonus.
- It does not charge any annual fee or foreign transaction fee.
- It offers long terms for intro APR for several purchases and balance transfers.
Cons:
- It charges a 3% balance transfer offer.
- It charges a $40 fee for late payments.
- Users need to book through Capital One Travel only to earn rewards for hotel and rental cars.
Capital One Venture Rewards Credit Card
Capital One Venture Rewards Credit Card is considered the best card for travel rewards. This credit card has an unlimited 5x miles for payments of hotel rooms and rents for cars booked via Capital One Travel. You can get an unlimited 2x miles offer for all purchases of everyday usage. Also, it offers a welcome offer of 75,000 bonus miles for the first three months if you spend $750 on travel or $4,000 on your purchases.
To qualify for this card, users must have a 670 to 850 good to excellent credit score. Users must maintain a regular APR of 17.49% to 25.49% Variable. Users can redeem their miles as a statement credit for purchases on travel, hotel rooms and flights. Also, users can use their miles for online purchases through PayPal and Amazon.com. The card does not charge any foreign transaction fee. But users have to pay $95 as an Annual Fee.
Features of Capital One Venture Rewards Credit Card are
- Recommended credit: 670 to 850 Good to Excellent
- Intro Offer: 75,000 miles
- Regular APR: 17.49% to 25.49% Variable
- Annual Fee: $95
- Balance Transfer fee: N/A
- Foreign transaction fee: None
- Best for Travel rewards
Pros:
- It offers flexible travel miles with low rates on all purchases.
- It does not offer any foreign transaction fee.
- It offers multiple perks, such as the chance to get Global Entry with a $100 credit.
Cons:
- It charges an annual fee of $95.
- It only offers mile rewards to users having booked via a selected airline.
- Its welcome bonus offer is hard for users to earn.
Capital One Platinum Credit Card
Capital One Platinum Credit Card is not an overall good flat-rate rewards card but is a good option for users with fair credit scores. The card offers some benefits related to credit, some travel perks, and some protection offers for consumers. It is considered the best card for people with a limited credit history.
To get this card, users need to have a fair to good credit score ranging from 580 to 740. Users must maintain a regular APR of 26.99% Variable, so their credit score can build up. The card does not charge any annual fee or foreign transaction fee. But you have to pay a $40 fee as a late payment penalty if you cannot make your payments on time.
Features of Capital One Platinum Credit Card are
- Recommended credit: 580 to 740 Fair to Good
- Intro Offer: None
- Regular APR: 26.99% Variable
- Annual Fee: $0
- Balance Transfer fee: None
- Foreign transaction fee: None
- Best for: People with Limited Credit history
Pros:
- It does not offer any annual fee.
- It is best for users with fair credit as low as 580.
- It offers an automatic six months overview of your account to maintain your credit score.
- It offers some travel and credit benefits for consumers.
Cons:
- It does not offer any rewards or bonuses, so you cannot get rewards for your spending.
- Although it is best for fair credit, it lacks some perks and benefits.
Capital One VentureOne Rewards Credit Card
Capital One VentureOne Rewards Credit Card is a good option for people who want low-cost and low-maintenance travel rewards. It is considered the best card for Travel rewards without any annual fee. This credit card has an unlimited 5x miles offer for payments of hotel rooms and rents for cars booked via Capital One Travel. You can get an unlimited 1.25x miles for your all purchases of everyday usage. Also, it offers 20,000 bonus miles as a welcome offer for the first three months if you spend $500 on your purchases. You can also earn 20,000 miles if your spending limit exceeds $16,000.
To qualify for this card, users must have a good to excellent credit score of 670 to 850. Users must maintain a regular APR of 16.49% to 26.49% Variable. Users can redeem their cash back amounts by signing into their capitalone.com website or visiting the reward centre. Redeem miles can use for flights, limo services, hotel rooms, and rental cars. The card does not charge any annual fee or foreign transaction fee.
Features of Capital One VentureOne Rewards Credit Card are
- Recommended credit: 670 to 850 Good to Excellent
- Intro Offer: 20,000 miles
- Regular APR: 16.49% to 26.49% Variable
- Annual Fee: $0
- Balance Transfer fee: None
- Foreign transaction fee: None
- Best for Travel rewards
Pros:
- It offers flexible travel miles with low rates on all purchases.
- It does not offer any annual fee or foreign transaction fee.
- Compared to other cards, it offers a good welcome bonus offer.
Cons:
- It offers low rewards rates.
- Users need to have a high regular APR Variable.
Capital One Spark Cash Plus
Capital One Spark Cash Plus is a good rewards card offering users no spending limits, multiple cash rewards and other earning options for all purchases. It is considered the best card for Small Businesses. This credit card has an unlimited 5% cash back offer for payments of hotel rooms and rents for cars booked via Capital One Travel. You can get an unlimited 2% cash back to offer for all purchases anytime and anywhere without any limits and restrictions. Also, it offers a $1,000 and $500 cash bonus as an intro offer for the first three months if you spend $500 on your purchases.
To qualify for this card, users must have a good to excellent credit score of 670 to 850. The card does not charge any foreign transaction fee but requires a $150 annual fee. Users will automatically get their cash back amounts as a check, gift card, or statement credit when their balance reaches specific limits. Also, users can use redeemed amounts for online purchases at PayPal and Amazon.com.
Features of Capital One Spark Cash Plus are
- Recommended credit: 670 to 850 Good to Excellent
- Intro Offer: $1,000 and $500
- Regular APR: N/A
- Annual Fee: $150
- Balance Transfer fee: N/A
- Foreign transaction fee: None
- Best for Small Businesses
Pros:
- Users can easily fulfil the requirements and earn a welcome bonus.
- It does not charge any annual fee or foreign transaction fee.
- It offers long terms for intro APR for several purchases and balance transfers.
Cons:
- It charges a 3% balance transfer offer.
- It charges a $40 fee for late payments.
- Users need to book through Capital One Travel only to earn rewards for hotel and rental cars.
Capital One QuicksilverOne Cash Rewards Credit Card
Capital One Quicksilver Cash Rewards Credit Card is a good open for building credit score and is considered the best card for fair credit. This credit card has an unlimited 5% cash back offer for payments of hotel rooms and rents for cars booked via Capital One Travel. You can get an unlimited 1.5% cash back offer for daily purchases.
To qualify for this card, users must have a fair to good credit score ranging from 580 to 740. Users have to maintain a regular APR of 26.99% Variable. The card does not charge any foreign transaction fee, but you must pay $39 for the annual Fee. Users can redeem their cash back amounts as a check, gift cards or statement credit. Also, users can use cash- backs for online purchases at PayPal and Amazon.com.
Features of Capital One QuicksilverOne Cash Rewards Credit Card are
- Recommended credit: 580 to 740 Fair to Good
- Intro Offer: N/A
- Regular APR: 26.99%
- Annual Fee: $39
- Balance Transfer fee: N/A
- Foreign transaction fee: None
- Best for Fair credit
Pros:
- It is best for fair credit.
- It charges no foreign transaction fee.
- It offers automatic cash back when purchases reach specific limits.
Cons:
- It charges $39 the annual Fee.
- It does not offer any intro offer.
- It requires a regular APR of 26.99%.
Capital One Quicksilver Student Cash Rewards Credit Card
Capital One Quicksilver Cash Rewards Credit Card is a good card for students to build credit. It is considered the best card for Simple Cash Back. This credit card has an unlimited 5% cash back offer for payments of hotel rooms and rents for cars booked via Capital One Travel. You can get an unlimited 1.5% cash back offer for any purchases of everyday use. Also, it offers $100 as a welcome offer for the first three months if you spend $500 on your purchases.
To qualify for this card, users must have a fair to good credit score ranging from 580 to 740. Users must maintain a regular APR of 16.49% to 26.49% Variable. Users can redeem their cash back amounts as a check or statement credit. Also, users can use cash- backs for online purchases at PayPal, Amazon.com, or gift cards. The card does not charge any annual fee or foreign transaction fee.
Features of Capital One Quicksilver Student Cash Rewards Credit Card are
- Recommended credit: 580 to 740 Fair to Good
- Intro Offer: $100
- Regular APR: 16.49% to 26.49% Variable
- Annual Fee: $0
- Balance Transfer fee: N/A
- Foreign transaction fee: None
- Best for Fair Credit
Pros:
- Users can easily fulfil the requirements and earn a welcome bonus.
- It does not charge any annual fee or foreign transaction fee.
- It offers long terms for intro APR for several purchases and balance transfers.
Cons:
- It charges a 3% balance transfer offer.
- It charges a $40 fee for late payments.
Capital One Venture X Rewards Credit Card
Capital One Venture X Rewards Credit Card is considered the best card for Premium Travel Benefits. This card has an unlimited 10x miles offer for payments of hotel rooms and rents for cars. It also offers a 5x miles offer for flights booked via Capital One Travel. You can get an unlimited 2x miles offer for all purchases. Also, it offers 75,000 miles as an intro offer for the first three months if you spend $4,000 on your purchases.
To qualify for this card, users must have an excellent credit score of 740. Users must maintain a regular APR of 18.49% to 25.49% Variable. Users can redeem their cash back for flights and travel expenses. Also, users can use cash- backs for online purchases at PayPal and Amazon.com. The card does not charge any foreign transaction fee. But you have to pay $395 for the annual Fee.
Features of Capital One Venture X Rewards Credit Card are
- Recommended credit: 740 Excellent
- Intro Offer: 75,000 miles
- Regular APR: 18.49% to 25.49% Variable
- Annual Fee: $395
- Balance Transfer fee: N/A
- Foreign transaction fee: None
- Best for Premium Travel Benefits
Pros:
- It offers flexible travel miles with low rates on all purchases.
- It does not offer any foreign transaction fee.
- It offers multiple perks, such as the chance to get Global Entry with a $100 credit.
Cons:
- It charges an annual fee of $395.
- It only offers mile rewards to users having booked via a selected airline.
- Its welcome bonus offer is hard for users to earn.
Capital One Platinum Secured Credit Card
Capital One Platinum Secured Credit Card is considered the best card for consumers with bad credit. The card offers payment options, travel benefits, credit card reviews, and extended warranty options. Users with bad credit can get a card without any credit history. The card does not offer any welcome offer so that users with bad credit can build their credit score.
Users have to maintain a regular APR of 26.99% Variable. Users can redeem their cash back amounts as a check or statement credit. Also, users can use cash- backs for online purchases at PayPal, Amazon.com, or gift cards. The card does not charge any annual fee or foreign transaction fee.
Features of Capital One Platinum Secured Credit Card are
- Recommended credit: No credit history
- Intro Offer: N/A
- Regular APR: 26.99% Variable
- Annual Fee: $0
- Balance Transfer fee: N/A
- Foreign transaction fee: None
- Best for Bad credit
Pros:
- The card offers
- The card does not charge any annual fee or foreign transaction fee.
- Users can easily qualify for the card.
- It will provide automatic credit card reviews.
Cons:
- It does not offer any welcome offer.
- It offers low rewards rates.
- Users need to have a high regular APR Variable.
Frequently Asked Questions (FAQs)
Now that you have read about Capital One credit cards, let us look at the questions people typically ask about the company and its credit cards.
Who Should Get a Capital One Credit Card?
The following people should get a Capital One credit card
- The Foodie: Capital One credit cards offer multiple perks and benefits to students and non-students by making transactions and purchases in dining and grocery stores.
- The credit builder: Some Capital One credit cards, including Platinum Secured, Platinum, and Quicksilver Secured, are the best for consumers with fair or bad credit. They require users with no credit history or fair credit score to qualify for the card. With time, Individuals can build high credit.
- The traveller: Capital One credit cards are the best option for travellers or people who want to earn travel rewards and miles. Capital One credit cards such as VentureOne, Venture X, and Venture provide many travel and flight perks and benefits.
- The business owner: Business owners can use Capital One business credit cards to get useful rewards for increasing their businesses. The Spark Miles for Business and Spark Cash Plus cards of Capital One offer several daily rewards for business spending.
- The daily shopper: Capital One offers a wide range of flat-rate credit cards, including the Quicksilver and QuicksilverOne credit cards. These cards help consumers to increase their spending on everyday purchases.
How to Choose a Capital One Credit Card?
Capital One offers a variety of credit cards with multiple benefits and perks for different purposes. Before choosing a Capital One credit card, you must ask yourself some questions. They are
- What’s my credit score? A credit score is a basic need in qualifying for Capital One credit cards. However, some credit cards require no credit history or fair credit. But you need to know your credit score to choose the best Capital One credit card.
- How will I use the card? Another important thing while choosing a credit card is your financial goals and spending habits. You can choose a card suitable for your financial goals.
- Can I fill in the basic requirements? Another essential thing before selecting a Capital One credit card is to know your worthiness. Are you willing to fulfil the basic requirements? When a credit card offers you benefits and perks, it requires you to fulfil some demands, such as on-time payments.
How to Get a Capital One Credit Card?
Once you choose a Capital One credit card, you need to follow a process. Follow the given procedure to get a Capital One credit card:
- Check your credit score.
- Check the prequalification tool.
- Fill out the application form.
- Get the decision.
How to Choose Top Capital One Credit Cards?
Capital One offers multiple credit cards for users according to their needs and spending. Some Capital one credit cards are on the top list and have five stars in the rating system. The major factors important in considering top Capital One credit cards are:
- Rewards offer
- Perks and Benefits
- Introductory offers
- Annual Fee
- Regular variable APR
- Balance Transfer fee
- Foreign Transaction Fee
Can Capital One Credit Cards Offer a Balance Transfer Option?
Capital One credit cards have several cards that offer balance transfer offers. The balance transfer offer of Capital One credit cards has a 0% intro APR, so users can make transfers and pay their debts easily.
What Credit Score Is Needed for a Capital One Credit Card?
All Capital One credit cards require a different credit score. Almost all the credit cards offered by Capital One need users to have a good to excellent credit score of 670 to 850. Some Capital One credit cards need a fair credit score and no credit history. But some credit cards are good for high credit consumers because they require an excellent credit score of 740.
Can We Have More Than One Capital One Credit Card?
Yes, users can have multiple Capital One credit cards. You can avail of more credit cards according to your income, credit history or profile, and other important elements. Capital One does not implement strict restrictions on users to open a limited number of cards.
Conclusion
This guide will give you detailed information about Capital One credit cards. In the first section, we discussed the various types of credit cards people can opt for by choosing Capital One. If you are a beginner looking for a credit card and information about Capital One, this guide will help you understand the company and its offerings.
In the next section, we have enlisted the benefits and drawbacks of Capital One cards. So this will give you an analysis of what to expect from the company. Through the pros and cons, you will understand the benefits and the costs you will need to pay to enjoy such perks.
The third section deals with the best Capital One credit cards, where you will see the different credit cards you can choose based on your needs. You must understand your needs first and then go into the market looking for the right card.
