Capital One® Cash Credit Card

So what's the experts verdict on this new card? My chase freedom rewards is changing as of 9/1 (no more $200 for $250 check) so I'm looking around for a new all-around rewards card to use. Already use Penfed for gas.

Been a Capital One visa member for 12 yrs and denied...Anyone have a # to call that doesn't send you to an India CSR?

Would actually use this card as I don't have a MC yet and no annual fee.

Been a Capital One visa member for 12 yrs and denied..

Hows the FICO score? It says excellent credit only. I think its new because I don't recall seeing the offering before.

20% bonus for the 1st 3 months is nice if you spend $500 over 3 months. Comes to 20% CashBack and 1.50% over the year as well.

Capital One seems to have awesome offerings now.

If I had $500 to charge I would apply right now. I have multiple Capital One cards all paid in full including the Venture.

If I knew I would be spending $500 I would grab this card. But the truth is I have nothing I want to spend $500 on since I want to save not spend.

The promotion looks like its only good on purchases.

Im tempted to apply but the 3 month limitation is bothersome.

grex23 said:   If I had $500 to charge I would apply right now. I have multiple Capital One cards all paid in full including the Venture.

If I knew I would be spending $500 I would grab this card. But the truth is I have nothing I want to spend $500 on since I want to save not spend.

You don't spend at least $166 on food per month? Even college students spend that much. It can't be that hard.

grex23 said:   Yes it is that hard.

I spend very little. I refuse to go into debt. For the card to be worth it I would need to use it on something I knew was $500 or more that could be worth more.

I can get $100 of dining with restaurant.com for free but I haven't used it.

You wonder why most college kids go into debt. It is because they spend way too much. I have 0 debt and I intend for it to stay that way.

I don't see anything I would spend $500 on or more at the moment. In fact I need the $100 cash, not to spend $500 to get 1/5th back (20%).

However if I did spend $500 on something I absolutely needed then yes the Credit Card would pay off.

C'mon guys, Grex is either really, really slow or a troll, a fact everyone who gave me red for my first post missed.

SeeHere or Here

Please share how you pay less than $5 a day in food, yet can afford a computer to get on these forums? You don't go out and spend $500 on something you don't need, you spend it on the necessities of life that you have to spend anyway. I've never been in debt, but even on minimum wage, I had to spend $166 a month to feed myself! You must be a troll.

grex23 said:   I don't see anything I would spend $500 on or more at the momentDont you have to pay for electricity at the trailer park?

u must eat junk for under 5$ a day. grex is 300 lbs i bet

In reality the free Venture is 1.25% CashBack each month. Some may not like the 1% and yearly bonus.

However with that being said: There is the 20% CashBack in the 1st 3 months if you spend $500 and there is a full one year of 0% purchase rate. Thats really the advantage for this card.

For me it would just be a new 0% Purchase rate card. I have nothing to spend $500 on right now. So I'm holding off on this for a little bit.

It is a nice card though.

grex23 said:   Neither. I realize that people shouldn't overspend or spend $500 to get $100 back which is a bad ROI.

Just like how people got themselves into the mortgage mess and couldn't pay their bills.

I own my place outright and have no debt and never will. As Suzie Orman says, you can't afford it. If I called into the show and mentioned this deal to her: She would say DENIED. Not sure if her show is still on CNBC or not.

I think you are confusing ROI and what many people here do. In 5 minutes, I can "spend" $500 in cash equivalents. At the end of the month, I have $600 for "spending" $500 (my $500 back plus the $100 bonus). I'll take 20% ROI on $500 for 5 minutes of work any and every day.

What you are talking about is taking $500, spending it on crack, and then flushing the crack without smoking it, all to get the $100 bonus. This is an 80% loss, not a 20% ROI. No one here advocates this.

Dunno. It has the 0% purchase, but the 1.50% isn't that attractive because its only 1% per statement cycle, then .50% at the end of the year.

Venture is 1.25 miles all the time so I believe it comes out to more long term.

But whether you do Venture or Capital One Cash, both seem to be good cards overall for excellent credit customers.

Datapoint: instant approval, 740+ Creditkarma score

grex23 said:   I used to use the Chase Freedom but is it correct they cut back the rewards on these?Years ago, but not recently. Chase checking customers get 1.1% + $.10/transaction, along with 5% quarterlies.

grex23 said:   I have way too many cards as it is right now.

While I like this one, others are offering higher bonus on stuff.

Chase Sapphire - 2% on Restaurants for instance.

Specialized Vendor CC's (Hilton, Amazon, etc...)

The Capital One Venture I have which is 1.25% rather than 1% and the .50% back at year end even though it offers a promo.

I used to use the Chase Freedom but is it correct they cut back the rewards on these?

I don't see a need for a new card right now so I'll pass on this even though it isn't a bad offering and for some it could be exactly what they want.

How many times are you going to post your intentions of passing on this card?

grex23 said:   I don't have Chase Checking so I'll wait and see on the Capital One Card.If you indeed spend less than $167/month, chances are the $.10/transaction would yield far greater than 1.5% in CashBack. Just a thought...

This thread is turning into a riot.

A: Energy doesn't take credit cards unless you pay a hefty surcharge fee which is a rip off so you wind up paying more not less. Why would I want to pay a surcharge and then get only a small tiny fraction of that surcharge back with the rebate. Or perhaps I don't pay for energy bills and have other ways of acquiring energy for free. (Oh physics has come a long way in the 21st century along with new technologies for renewable energy sources)

B: Food is free. You plant it, it grows. Is this concept too hard for you to understand? Animals and livestock come from nature. Yes food is very affordable and cheap.

C: Who needs cellphones when wifi networks are free and plentiful in some areas IF one wished to use such and the devices for such are way cheap if one were to even get one.

D: Telecommunications services like wifi can be had for free or very cheap. You act like computers are expensive and I was in the market for buying a new expensive computer today or something.

Its amazing what goes in through peoples heads and the assumptions one makes.

Thanks for playing.