topic Re: Capital One Cash Rewards in Credit Cards

Capital One Cash Rewards

tylaw13 — Sat, 30 Jun 2012 05:35:37 GMT

Ive had capital one for about 2 years but it was just the platinum for bad/rebuilding credit and it was unsecured, which i was content with because it was the first kind of credit i ever got. They started me with a 300 CL and after 6 months gave me 1000. Of course after that nothing. well i just applied for the cash rewards card for average credit and was approved for a 500CL. i just want to know what people think of it?

My scores are - Fico TU 620 EQ 645 FAKO EX 627 CK 681

Re: Capital One Cash Rewards

Reelax — Sat, 30 Jun 2012 05:43:36 GMT

To be honest, I never liked Capitolone. I had 2 of their cards for 8 years and they never bothered to raise my credit limit above 2k. So I just closed them because everytime I asked for a CLI, they gave me the runaround saying "Your account goes through periodic reviews for credit limit increases." Not the best customer service and I made the mistake of opening a Small business account with them(WHich I closed after 2 weeks and went to Chase.). They started out as a credit rebuilding company to the monster it is today. I just hope Jimmy Fallon and those unkept barbarians in their commercials sleep well each night knowing who they are representing.

Re: Capital One Cash Rewards

irving_magik — Sat, 30 Jun 2012 05:46:11 GMT

I have the exact two Cap1 cards that you have. I also started with the "platinum", had that card for two years and I'm at 1250 and the Rewards card started at 500 and is now at 750.

Over all the card is a decent card, ive never have had a problem and the rewards aren't that bad. Only bad thing is that its hard to put a lot of money through it due to the low CL, and don't expect that to go up that often. Ive had mine for a year and a half and have only gotten 250 CLI.

Re: Capital One Cash Rewards

irving_magik — Sat, 30 Jun 2012 05:48:53 GMT

The AF is another down side, 39 isn't that much but the rewards are much better with other cards. I cant wait to get prime cards and dump both my Cap1 cards

Re: Capital One Cash Rewards

tylaw13 — Sat, 30 Jun 2012 05:53:05 GMT

Reelax wrote:
To be honest, I never liked Capitolone. I had 2 of their cards for 8 years and they never bothered to raise my credit limit above 2k. So I just closed them because everytime I asked for a CLI, they gave me the runaround saying "Your account goes through periodic reviews for credit limit increases." Not the best customer service and I made the mistake of opening a Small business account with them(WHich I closed after 2 weeks and went to Chase.). They started out as a credit rebuilding company to the monster it is today. I just hope Jimmy Fallon and those unkept barbarians in their commercials sleep well each night knowing who they are representing.

i agree with you, the first card i didnt know what i was doing i was just 18. and this one i was worried if i applied for another card from another company and would be denied and stuck with the hard pull and nothing to show for it. im definitely still learning about how credit works. my uti is always low i keep a small balance on my card. next on the list is refinancing my auto loan which is with WFDS right now at an embaressing 16% interest. im trying to go through my CU (Cal Coast)

Re: Capital One Cash Rewards

tylaw13 — Sat, 30 Jun 2012 05:52:51 GMT

irving_magik wrote:
The AF is another down side, 39 isn't that much but the rewards are much better with other cards. I cant wait to get prime cards and dump both my Cap1 cards

how much "rewards" do you see with this card.

Re: Capital One Cash Rewards

injustifiiable — Sat, 30 Jun 2012 22:41:55 GMT

That kinda sucks that you only got $500 CL tho...maybe if you're "lucky" you'll be in the "credit steps" program (or, more like credit "step") where they raise it to some other ridic figure like $750 after six months.

Could be worse though...a denial! lol

Re: Capital One Cash Rewards

irving_magik — Thu, 05 Jul 2012 17:23:55 GMT

tylaw13 wrote:
irving_magik wrote:
The AF is another down side, 39 isn't that much but the rewards are much better with other cards. I cant wait to get prime cards and dump both my Cap1 cards
how much "rewards" do you see with this card.

I've avaraged around $100 the first two year and I wasn't even pushing all my purchases through it, it's hard with only a CL of $750... having to do mulitple payments a month is a hassle.

Re: Capital One Cash Rewards

tylaw13 — Thu, 05 Jul 2012 17:57:26 GMT

irving_magik wrote:
tylaw13 wrote:
irving_magik wrote:
The AF is another down side, 39 isn't that much but the rewards are much better with other cards. I cant wait to get prime cards and dump both my Cap1 cards
how much "rewards" do you see with this card.
I've avaraged around $100 the first two year and I wasn't even pushing all my purchases through it, it's hard with only a CL of $750... having to do mulitple payments a month is a hassle.

how easy was it to cash in those rewards? i have a savings through cap 1 that i throw 100$ bucks at here and there so ill probably put the rewards in there

Re: Capital One Cash Rewards

noobody — Thu, 05 Jul 2012 18:11:36 GMT

Very easy, reward shows up right after purchase been post, do not even have to wait for statement! you can apply rewards towards balance any time with no min amount required!, this and no foex fee make me still keep my 11 year old cap1 card without AF of course.

Re: Capital One Cash Rewards

irving_magik — Thu, 05 Jul 2012 21:40:26 GMT

noobody wrote:
Very easy, reward shows up right after purchase been post, do not even have to wait for statement! you can apply rewards towards balance any time with no min amount required!, this and no foex fee make me still keep my 11 year old cap1 card without AF of course.

+1 - it is very easy.... when they say "no hassle rewards" they really do mean it. It's easy as jumping online, a couple clicks later.... you can have it credited towards your balance.

Re: Capital One Cash Rewards

jllunas — Wed, 22 Aug 2012 12:27:23 GMT

I opened a Cap 1 rewards platinum credit card and I have to say its not as bad as I thought it would be. I have no interest on purchases until February 2013 and already have gotten $38 worth of rewards. My limit is 2000 which so not that bad for me. You get an email telling you you have rewards. I go to the website and just apply them to my ballance, But after march my interest rate will rise to 21.99% A little high so I wont use it at all. Better than when I had credit 1 card.

Re: Capital One Cash Rewards

CreviceTool — Wed, 22 Aug 2012 13:43:40 GMT

I've had one for a couple of years, and have had no real "problem" with it, beyind the stingy CL which they are notorious for not increasing. But as others have said, the cashback is easy to deal with... I have mine set up to automatically appear as a credit on my statement whenever it hits $25, so I don't even have to bother with redeeming them. But ultimately, their tiny credit limits drove me to other cards, which also happened to have better (higher) rewards.

I really don't understand them. They are known for taking on some "riskier" customers with little or poor credit. Nothing wrong with that, because there is potential in customers that want to build or re-build credit. But it seems like they take the risk, but don't allow themselves to reap the benefits, because they drive off the ones that ended up being a good investement through their unwillingness to grow with their good customers. :smileyfrustrated:

Re: Capital One Cash Rewards

jsucool76 — Wed, 22 Aug 2012 18:13:15 GMT

Cap1 has been good to me. I love ny cash rewards card. I don't spend all that much with it but I lile that the rewards post immediately and there is no minimim to redeem, my WF card can only redeem in $25 increments. Plus i cant hate on cap1, they gave me my first card.

Re: Capital One Cash Rewards

nycsimone — Fri, 07 Sep 2012 15:58:23 GMT

My credit scores are in the 650-680 range.

I opened up a Capital One Platinum MC about 16 months ago. Started with a CL of $200 and after 6 months increased it to $500. I've asked for CL increases two times and was denied both times.

I then opened the Green Cash Rewards MC also with Capital One and got a CL of $500 right off the bat. This was just 8 months ago. I asked for a CL increase 2 months ago and was denied. Yesterday I checked my account and they increased my CL all on their own without any type of credit check up to $3,500. I was very surprised. But then again, I was using it quite a bit and making multiple payments a month.

Re: Capital One Cash Rewards

JonStur — Fri, 07 Sep 2012 16:52:21 GMT

I love Cap 1. I have the No Hassles Cash Rewards card which they don't offer anymore. I like the 2% on both gas and groceries and use it when my other cards rotate out of these categories. You can claim the rewards whenever you want, and there's also no fees to use it out of the country.

Re: Capital One Cash Rewards

MarcinXP — Fri, 07 Sep 2012 17:07:06 GMT

I have the No Hassle Rewards which is no longer offered and my dad has Cash Rewards. The rewards by far is really no hassle and easy. I have a $25 Best Buy gift card coming. This is a 3rd one pretty much this year and now I have about $11 in rewards and will probabl get my 4th $25 Best Buy gift card sometime after I come back from my vacation beginning on October. That will roughly be about $100 bucks in rewards from this card and then I have BBRZMC which I pretty much put everything through and have another $125 in certificates there. For capital one I found that if I order the gift card to be shipped..even though it says 2-3 weeks to get it..usually within 48-72 hours it's shipped and I get it within probably 5 days or so after that. Not bad.

Capital On while having low limits has been good to me despite the fact that I screwed them on 2 cards in 2007. Yeah the CL is low..$500 each on BBRZMC and Ho Hassle, however I pay several times a month so no biggie, just inconvenience. Customer Service has been great. Yes - the answers to questions seems robotic and reading from script, however never had a problem with them.

When all my baddies fall off in 2 years or so I will probably apply for a better card with them. They might give low limits and things like that, but they don't black list and give you credit when everyone wont except for First Premier with their crazy APR and fees. Overall CapitalOne has a great model. Be there for sub prime members and capture the market that everyone ignores with exception of companies like FP who gouge people. A better alternative

My only wish is that they increase limits on cards as your history grows with them, but then again would you want to have a $3k limit on card with $39 or $59 annual fee. If your credit improves then apply for a CAPONE that has a better card, limit and no AF fee. Capone has same cards in Excellent credit category as they do with Average Credit Category with no AF fee. I seen a Cash Card with 30k credit line.

The transition from Average Credit Cash Card with Low Limit and $39 Annual Fee to better limits and Excellent Credit Cash Card could be better..that is their only opportunity as far as I can see

Re: Capital One Cash Rewards

RockinRay — Fri, 07 Sep 2012 17:51:38 GMT

I really like my Cash (green) Rewards Card!

Their customer service has also been good.

Re: Capital One Cash Rewards

jsucool76 — Fri, 07 Sep 2012 19:33:56 GMT

Their online rewards mall is pretty nice too. Not that many in-store offers there (which you do have to activate), but there is a TON of retailers with cash back up to 15% (although the 15% options are few and far between)