Re: Capital One Cash Rewards
09-07-2012 10:07 AM
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