are-capital-one-credit-cards-good-1599582539933.jpg
Source: istock

Are Capital One Credit Cards Good?

By

Updated

Capital One is an American financial corporation that offers different credit cards for cashback rewards, dining and entertainment rewards, business travelers, and students. Capital One also specializes in helping people rebuild bad credit scores. Let’s take a closer look at the different credit cards available and how you can apply for a Capital One credit card.

Are Capital One credit cards good?

Capital One offers the best selection of credit cards for rewards, sign-up bonuses, zero percent introductory APRs, and travel benefits. The company also offers credit cards to rebuild credit. Capital One issues Visa and Mastercard network-branded cards to students, consumers, and small businesses. As a result, Capital One’s offerings may be worth considering.

Which Capital One credit cards are available?

Your credit history will determine what credit cards you qualify for. Capital One credit cards are available to people who are looking for lucrative sign-up bonuses, high travel and dining rewards, or cashback. The cards are also available to people with all credit levels from excellent to bad. So, what are the best Capital One credit cards?

  • Capital One Quicksilver Cash Rewards (best for cashback) — The card offers a $150 cash bonus when you spend $500 on your card within three months of opening the account. The Capital One Quicksilver Cash Rewards card doesn't have an annual fee. It has a 0 percent introductory APR on purchases for 15 months and a variable APR of 15.49 percent to 25.49 percent after that. The card offers 1.5 percent cash back on all purchases made. The recommended credit score for the Capital One Quicksilver Cash Rewards card is between 670 and 850. Also, the card doesn’t charge a foreign transaction fee.
  • Capital One SavorOne Cash Rewards (best for dining) — The card offers a $150 cash bonus when you spend $500 on your card within three months of opening the account. The card doesn't have an annual fee. The Capital One SavorOne Cash Rewards card has a 0 percent introductory APR on purchases for 15 months and a variable APR of 15.49 percent to 25.49 percent after that. The card offers 3 percent cash back on dining and entertainment, 2 percent at grocery stores, and 1 percent on all other purchases made with the card. The recommended credit score for the Capital One SavorOne Cash Rewards card is between 670 and 850. The card doesn’t charge a foreign transaction fee.
  • Capital One Venture Rewards (best for travel) — The card offers 50,000 bonus miles after you spend $3,000 on your card within three months of opening the account. The card has a $95 annual fee and a variable APR of 17.24 percent to 24.49 percent. You earn 2 miles per dollar on all purchases. The recommended credit score for the Capital One Venture Rewards card is between 670 and 850. The card doesn’t charge a foreign transaction fee.
Is Capital One A Good Credit Card?
Source: Pixabay
  • Capital One Spark Cash for Business (best for business rewards) — The card offers a $500 cash bonus when you spend $4,500 on your card within three months of opening the account. The card doesn't have an annual fee for the first year and a $95 fee after that. The Capital One Spark Cash for Business card offers a variable APR of 20.99 percent. You earn 2 percent cash back for your business on every purchase. The recommended credit score for the card is between 670 and 850. The Capital One Spark Cash for Business card charges a cash advance fee of either $10 or 3 percent of the amount of each cash advance.
  • Journey Student Rewards by Capital One (best for students) — The card doesn't have an annual fee. The Journey Student Rewards by Capital One has a variable APR of 26.99 percent. You earn 1 percent cash back on all purchases. If you pay on time, you can boost your cash back by 0.25 percent for that month. The recommended credit score for the card is between 350 and 850. Also, the card doesn’t charge a foreign transaction fee.
  • Capital One QuicksilverOne (best for fair credit) — The card has a $39 annual fee and offers a variable APR of 26.99 percent. You earn 1.5 percent cash back on every purchase. The recommended credit score for the card is between 350 and 850. The Capital One QuicksilverOne card doesn’t charge a foreign transaction fee.
  • Capital One Secured Mastercard (best for bad credit) — The card doesn't have an annual fee and offers a variable APR of 26.99 percent. The Capital One Secured Mastercard requires a $49, $99, or $200 refundable minimum security deposit. The recommended credit score for the card is between 350 and 850. The Capital One Secured Mastercard doesn’t offer a rewards program.

How to apply for a Capital One credit card

 Once you have selected a Capital One credit card, it just takes a few steps to apply.

  • Visit Capital One’s credit card page and click 'Apply Now.'
  • Enter the required information on the application form.
    • Personal information: full name, date of birth, and social security number.
    • Contact information: residential address, email address, and phone number.
    • Financial information: employment status, total annual income, monthly rent/mortgage, and bank account information.
  • Submit your application form.

After you have submitted your credit card application form, there are three likely responses — instant approval, wait and see, or instant denial. If you get approved instantly, you will get your credit card in the mail and you don’t need to do anything else.

If you get a 'wait and see' message, it means that Capital One needs more time to review your application form. You will likely receive a letter in 10 working days about whether you were approved or denied based on your credit card application. If your application gets denied, you can call Capital One for more information. You can prepare your case and ask Capital One to reconsider your application.

More From Market Realist