Cap 1 benefits?

[Anonymous]

So I've been reading on these forums that Cap 1 isn't generous with CL or CLI, and I'm assuming their rewards are comparable to the other CCC.  Why apply for a card with Cap 1?  Is there something special about Cap 1 that I'm missing? 

[Anonymous]

Most people app for Cap1 when they're new to credit or rebuilding. They're usually willing to give people a second chance. While their rewards aren't amazing, they're better than any other rebuilder card.

The no annual fee card is for those with better credit. Same rewards. I still think the rewards program is pretty decent. There's better out there, but there's worse out there. Hell, my NFCU card's rewards are worse than my Cap1.

[Anonymous]

Yea, cap1 is a cheap way to have a card with no intl transaction fees attached, really the only reason I'm keeping mine for now. Of course I'd probably blow through my measly limits in a day but it's worth having for that. Chase also has some cards with that benefit (not my southwest rewards unfortunately), as does Amex (plat/cent), but as often as I leave the country they're useful for that.

[Zar]

I got one (No Hassle Cash Rewards for excellent credit) because besides the cash back, this card doen't have foreign transaction fees and I travel frequently abroad. I hope the credit line will increase in the future ($3000 when applied last June).

Zar

[Anonymous]

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@Anonymous wrote:

Most people app for Cap1 when they're new to credit or rebuilding. They're usually willing to give people a second chance. While their rewards are <-- did you mean "aren't"? amazing, they're better than any other rebuilder card.

The no annual fee card is for those with better credit. Same rewards. I still think the rewards program is pretty decent. There's better out there, but there's worse out there. Hell, my NFCU card's rewards are worse than my Cap1.

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Oh I see, that makes sense.  I was weighing my options for an additional CC when I apply in 8-12 months.

[trumpet-205]

Capital One offers card to those with subprime credit. All Capital One's cards are free of foreign transaction fee.

And for No Hassle Cash Rewards, you can redeem rewards as soon as it is posted, with no minimum redemption requirement.

[LilloEsquilo]

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@ptrutkowski wrote:

So I've been reading on these forums that Cap 1 isn't generous with CL or CLI, and I'm assuming their rewards are comparable to the other CCC.  Why apply for a card with Cap 1?  Is there something special about Cap 1 that I'm missing? 

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The CL is so pathetically low that you really have to try like hell to get into trouble with one of these cards, and even if you try like hell, you'll still probably not be able to.

That's what really makes them stand out from the crowd is their well known stinginess with CLs. Their rewards are fine, nothing special, just fine.

If you can get better, frankly, I can't think of any reason to carry or bother with Cap 1. It's the card with the same CL for all eternity. You never need check your statement with baited breath, wondering if you got a CLI, you will KNOW beyond all doubt that you're more likely to win the lottery!

[clocktick]

No foreign transaction fees!  Great back-up when someone doesn't take Amex or Discover.  Easy "no-hassle" rewards - seriously.  Can change your card to other designs/personal pictures.  Good rebuilder card - they forgive, often (read multiple threads on here for years).  Their Venture card is one of the top-rated travel rewards cards.  I do keep mine for the no foreign transaction fees though. 

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csol47 wrote:
 Chase also has some cards with that benefit

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Which ones?  Do any of them NOT have an annual fee?

[Anonymous]

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@trumpet-205 wrote:

Capital One offers card to those with subprime credit. All Capital One's cards are free of foreign transaction fee.

And for No Hassle Cash Rewards, you can redeem rewards as soon as it is posted, with no minimum redemption requirement.

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I forgot about that. And there's no limit on the amount of cashback you can receive, either. Redemption is very easy.

[Anonymous]

(a little intimidated to post here with so many credit card experts around)

I use a Capital One card as my main card for a few reasons:

1. The Venture program seems like the best rewards for me aside from possibly American Express Blue cards (which charge the merchant higher fees). The annual fee version offers a solid, no shenanigans 2% that can be credited against any travel related purchase.
2. I really like that I can customize the card with my own images (and you can switch images every 30 days!)
3. As stated, there are no international transaction fees - I spend a lot of time out of the country.

I've heard a lot of people talk about low credit limits, but mine is >10k and totally reasonable for me.  

I got my card almost a year ago, and have had almost no problems, except for a bunch of calls at first about possibly fraudulent transactions (but they never declined anything as far as I can remember). Those calls have tapered off; I assume as their fraud algorithms have been better trained for me.

-cliff