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New Capital One Credit Card!

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Re: New Capital One Credit Card!


@JAG73 wrote:

Thanks for sharing op! This definitely bridges the gap between the starter cards and their excellent cards. 

 

A lot of disclosures listed, the main 2 that stuck out were Target and Walmart would not count as grocery. I know other cards may not code them as grocery as well, but just wanted to point it out since a lot of people grocery shop there. 


I caught that as well (spending too much time on myFICO has taught me to skip straight to the fine-print... LOL).

 

While Amex is known for excluding Walmart, historically MC/Visa have usually coded it as grocery.  I just went to check out the fine-print on the Savor and WM/Target are exluded on it as well, which I never noticed before. 

Message 21 of 25
Frequent Contributor

Re: New Capital One Credit Card!


@UncleB wrote:

@JAG73 wrote:

Thanks for sharing op! This definitely bridges the gap between the starter cards and their excellent cards. 

 

A lot of disclosures listed, the main 2 that stuck out were Target and Walmart would not count as grocery. I know other cards may not code them as grocery as well, but just wanted to point it out since a lot of people grocery shop there. 


I caught that as well (spending too much time on myFICO has taught me to skip straight to the fine-print... LOL).

 

While Amex is known for excluding Walmart, historically MC/Visa have usually coded it as grocery.  I just went to check out the fine-print on the Savor and WM/Target are exluded on it as well, which I never noticed before. 


Discover it also does not include Walmart and target in their 5% grocery quarters.

Message 22 of 25
Frequent Contributor

Re: New Capital One Credit Card!

I wonder if this isn’t in response to the Ollo Card. Seems very similar.
Current Cards (in order they were approved with current limits):
Cap1 QS (plat.) $2750
Kohls $3K
Cap1 Savor $15K
PenFed Power Cash Rewards $2K
NFCU CashRewards $2K
Disco It #1 $5.3K
NFCU MoreRewards $4.5K
Cap1 Venture $30K
PenFed Gold $2K
Ollo Rewards $3.2K
Sync Amazon $10K
NASA FCU Platinum Cash Rewards $2K
Disco It #2 $7.5K
DCU Visa $10K
NFCU Flagship Rewards $15K
Sync Care Credit $15K
PenFed Power Cash Rewards #2 $39K
WF Propel $4K
Comenity AKC $10.5K
Apple (GS) $6.5K
BK 7 discharged July 2016


Message 23 of 25
Established Member

Re: New Capital One Credit Card!


@longtimelurker wrote:

@wasCB14 wrote:
Does QS really require "excellent" credit? I'd think they'd have to relax their standards a bit to get people interested in 1.5% these days.

.

Yes and no!   I requires CapOne excellent credit, which means:

 

I've never declared bankruptcy or defaulted on a loan; I haven't been more than 60 days late on any credit card, medical bill, or loan in the last year; I've had a loan or credit card for 3 years or more with a credit limit above $5,000.

 

So you can have a 60 day late in the last year and still be excellent.   Other issuers may disagree with this definition!


So I have declared bankruptcy within the last 5 years, and still got approved for a Venture and a Savor, and also PCed to a QS from a QS1. My scores are in the low 700's. I would say this is more of guideline than a hard rule.

Message 24 of 25
Valued Member

Re: New Capital One Credit Card!

It is interesting that it has no foreign transaction fees and transferrable points with no annual fee.  Could be a good starter travel card in getting a handle on transferrable points.  Maybe it's just me, but I want to see more cards that have transferrable points for no annual fee.  Makes me wonder if something like the Sapphire Preferred is worth the annual fee when cards like these come out.

Message 25 of 25
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