Re: Capital One launches new credit card

TiggerDat · ‎06-13-2013

Oh I thought you were going to mention their other new card the Despise card. It comes with an AF of $89 and an initial signup bonuse of 50% a value meal at McDonalds and inititial credit limit of $15, with credit steps of $1 every 4 months for the life of the card.

It is by will alone I set my mind in motion.....
Always follow these rules: Only take a HP for a new account. Always use the best rewards card for that reward category. Don't close a card unless you know you really should. Never use more than 35% of a credit limit. Recon as much and as best you can. Use the introductory period to the best advantage. Get the signup bonus. Whenever possible PIF or balance transfer so you pay less in interest. Never give an excellent rating when it is actually the norm. Always look for a discount as more is always better.
Always accept candy from strangers because they have the best candy or from people you know have good candy.

Open123 · ‎06-13-2013

@enharu wrote:
I still don't understand what the big deal about this card is, other than the fact it's a world elite MasterCard.

If were offered, the *only* reason to app for it would be for the 35K signup bonus an annual fee waiver.

Then, just SD it for cancellation next year before the fee is due.

myjourney · ‎06-13-2013

@bernhardtra wrote:
Oh I thought you were going to mention their other new card the Despise card. It comes with an AF of $89 and an initial signup bonuse of 50% a value meal at McDonalds and inititial credit limit of $15, with credit steps of $1 every 4 months for the life of the card.

Ha ha ha

Why did I know you would jump in Lol

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?

enharu · ‎06-13-2013

@Open123 wrote:
@enharu wrote:
I still don't understand what the big deal about this card is, other than the fact it's a world elite MasterCard.
If were offered, the *only* reason to app for it would be for the 35K signup bonus an annual fee waiver.

Then, just SD it for cancellation next year before the fee is due.

how much is 35k miles worth?
there's a 10k miles anniversary bonus each year. if 10k = $100, then AF is somewhat just $20.

It still looks awfully similar to the Venture card to me though, except Venture is a visa sig.

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).

Open123 · ‎06-13-2013

@enharu wrote:
@Open123 wrote:
@enharu wrote:
I still don't understand what the big deal about this card is, other than the fact it's a world elite MasterCard.
If were offered, the *only* reason to app for it would be for the 35K signup bonus an annual fee waiver.

Then, just SD it for cancellation next year before the fee is due.
how much is 35k miles worth?
there's a 10k miles anniversary bonus each year. if 10k = $100, then AF is somewhat just $20.
It still looks awfully similar to the Venture card to me though, except Venture is a visa sig.

Even with first year fee waived, still may not even bother. I'm not a big fan of "miles" disguised as statement credits.

The last time Cap One had anything worth app'ing was the 100K Venture sign up 3 years ago. That was worth it!

TiggerDat · ‎06-13-2013

@myjourney wrote:
@bernhardtra wrote:
Oh I thought you were going to mention their other new card the Despise card. It comes with an AF of $89 and an initial signup bonuse of 50% a value meal at McDonalds and inititial credit limit of $15, with credit steps of $1 every 4 months for the life of the card.
Ha ha ha
Why did I know you would jump in Lol

Because of the love I have for them! And sorry, it had to be someone, so why not me! I am amazed no one else thought of it! There are certainly a few who have already posted who feel the same way. I just put a humorous twist on it. I really do wish they would straighten out and better identify their customers. They do seem to be on a path to do so, but how far down it are they going to go?

Maybe I should have called it the Despair card though. Since that would be an antonym for Aspire.

It is by will alone I set my mind in motion.....
Always follow these rules: Only take a HP for a new account. Always use the best rewards card for that reward category. Don't close a card unless you know you really should. Never use more than 35% of a credit limit. Recon as much and as best you can. Use the introductory period to the best advantage. Get the signup bonus. Whenever possible PIF or balance transfer so you pay less in interest. Never give an excellent rating when it is actually the norm. Always look for a discount as more is always better.
Always accept candy from strangers because they have the best candy or from people you know have good candy.

myjourney · ‎06-13-2013

@bernhardtra wrote:
@myjourney wrote:
@bernhardtra wrote:
Oh I thought you were going to mention their other new card the Despise card. It comes with an AF of $89 and an initial signup bonuse of 50% a value meal at McDonalds and inititial credit limit of $15, with credit steps of $1 every 4 months for the life of the card.
Ha ha ha
Why did I know you would jump in Lol
Because of the love I have for them! And sorry, it had to be someone, so why not me! I am amazed no one else thought of it! There are certainly a few who have already posted who feel the same way. I just put a humorous twist on it. I really do wish they would straighten out and better identify their customers. They do seem to be on a path to do so, but how far down it are they going to go?

Maybe I should have called it the Despair card though. Since that would be an antonym for Aspire.

Lol Good one

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?

CreditScholar · ‎06-13-2013

@Open123 wrote:
@enharu wrote:
@Open123 wrote:
@enharu wrote:
I still don't understand what the big deal about this card is, other than the fact it's a world elite MasterCard.
If were offered, the *only* reason to app for it would be for the 35K signup bonus an annual fee waiver.

Then, just SD it for cancellation next year before the fee is due.
how much is 35k miles worth?
there's a 10k miles anniversary bonus each year. if 10k = $100, then AF is somewhat just $20.
It still looks awfully similar to the Venture card to me though, except Venture is a visa sig.

Even with first year fee waived, still may not even bother. I'm not a big fan of "miles" disguised as statement credits.

The last time Cap One had anything worth app'ing was the 100K Venture sign up 3 years ago. That was worth it!

+1. I remember that one, where they had you send in a statement of another travel card and if you had more than 60k (I think) in annual spend, they'd give you 100k miles.

Any card that doesn't either (a) earn miles directly in a loyalty program or (b) allow you to transfer the earnt currency into a loyalty program is simply a glorified cash-back card. This applies to all of the CapOne cards, the BofA travel rewards cards, Barclay's arrival card, etc.

EX 798, EQ 789, TU 784
American Express Platinum (NPSL) || Bank of America Privileges with Travel Rewards Visa Signature - $23,200 CL
Barclays American Airlines Aviator Red World Elite Mastercard - $20,000 CL || Chase IHG Rewards World Mastercard - $25,000 CL
Chase Sapphire Preferred Visa Signature - $12,700 CL || Chase United MileagePlus Club World Elite MasterCard - $26,500 CL
Citibank Hilton Reserve Visa Signature - $20,000 CL || J.P. Morgan Ritz Carlton Visa Signature - $23,500 CL

RonDawg · ‎06-13-2013

@bahbahd wrote:
i aspire to never have another capital one card again.

I second that one my friend lol

AMEX Platinum, AMEX Blue cash (10k), AMEX Delta (10k), US Bank Premier Line (14.5k), US Bank Cash + (7.5k), Chase Freedom (5k), Fred Meyer Rewards Visa (7.5k), US Bank Flex Perks Travel Rewards (5k), Discover IT (9.5k), Chase Sapphire Preferred (8k), Alerus Financial Visa Signature issued by Elan (10k), BofA Cash Rewards (10k), Citi Thankyou Pref (6.5k) TU FICO Score = 807, EQ FICO Score = 780, EX FICO Score = 780,
CreditKarma score = 785, CreditSesame score = 773, Vantage = 903

HiLine · ‎06-13-2013

@CreditScholar wrote:
@Open123 wrote:
@enharu wrote:
@Open123 wrote:
@enharu wrote:
I still don't understand what the big deal about this card is, other than the fact it's a world elite MasterCard.
If were offered, the *only* reason to app for it would be for the 35K signup bonus an annual fee waiver.

Then, just SD it for cancellation next year before the fee is due.
how much is 35k miles worth?
there's a 10k miles anniversary bonus each year. if 10k = $100, then AF is somewhat just $20.
It still looks awfully similar to the Venture card to me though, except Venture is a visa sig.

Even with first year fee waived, still may not even bother. I'm not a big fan of "miles" disguised as statement credits.

The last time Cap One had anything worth app'ing was the 100K Venture sign up 3 years ago. That was worth it!
+1. I remember that one, where they had you send in a statement of another travel card and if you had more than 60k (I think) in annual spend, they'd give you 100k miles.

Any card that doesn't either (a) earn miles directly in a loyalty program or (b) allow you to transfer the earnt currency into a loyalty program is simply a glorified cash-back card. This applies to all of the CapOne cards, the BofA travel rewards cards, Barclay's arrival card, etc.

Nah, it's a downgraded cashback card that lets you redeem points toward travel expenses only.

---> HiLine's personal finance blog - Follow my journey!

Capital One launches new credit card

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