Capital One credit card mini-reviews

7

mini reviews

When I first created our Best Credit Card Offers page, about 6 years ago, I included mini reviews with each card. Since then I’ve done a poor job at keeping that going.  To fix that, I’m working on adding mini reviews to each card, one bank at a time.  Since I had exactly zero mini reviews for the Capital One cards despite them having a number of excellent early spend bonus offers, I decided to start there.  What follows are the mini reviews that can also be found in the Capital One section of our Best Offers page.  Expect to see similar updates for other banks in the near future.

Card Offer and Details
Capital One Venture Rewards Credit Card
75K Miles
Earn 75,000 bonus miles after $4K spend in 3 months

$95 Annual Fee

Recent better offer: 100K: 50K after $3K in the first 3 months + 20K after $20K in the first 6 months [Expired 7/19/21]

FM Mini Review: This card earns 2 "miles" per dollar, which are worth exactly 1 cent each toward travel. This makes the return on spend similar to a 2% cash back card (though in this case you must redeem your miles to offset travel in order to get 1 cent per mile). One big advantage over cash back: Capital One allows transfering their "miles" to airline miles & hotel points.


Card Type: Visa Signature

Base
Travel
Other

Earning rate: 2X everywhere ⚬ 5X on hotels and rental cars booked via Capital One Travel

Noteworthy perks: Receive up to $100 application fee credit for Global Entry or TSA PreCheck® ⚬ Redeem miles for travel at value of 1 cent per mile ⚬ Convert "miles" to airline miles & hotel points ⚬ No foreign transaction fees ⚬ 2 complimentary visits per year to Capital One or Plaza Premium Lounges

Capital One Venture X Rewards Credit Card
75K Miles
Earn 75,000 bonus miles after $4K spend in 3 months

$395 Annual Fee

Recent better offer: Expired 3/14/22: 100K after $10K spend in 6 months + $200 credit for vacation rental spend in first year

FM Mini Review: This card offers annual rebates that easily mitigate the fee for those who travel often and could be worth it for the lounge access and travel protections given the cost/benefit ratio. Authorized users are free and also get access to perks like Priority Pass, Capital One Lounges, Plaza Premium lounges, and Hertz President's Circle status. The card earns 2 "miles" per dollar on most purchases just like the Capital One Venture Rewards card, which are worth exactly 1 cent each toward travel. This makes the return on most spend similar to a 2% cash back card (though in this case you must redeem your miles to offset travel in order to get 1 cent per mile). One big advantage over cash back: Capital One allows transfering their "miles" to airline miles & hotel points.


Card Type: Visa Infinite

Base
Travel
Other

Earning rate: 10X on hotels and rental cars booked via Capital One Travel ⚬ 5x on flights booked via Capital One travel. ⚬ 2X everywhere else.

Noteworthy perks: Up to $300 in statement credits annually for bookings made through Capital One Travel ⚬ 10,000 bonus miles each year starting at first anniversary ⚬ Receive up to $100 application fee credit for Global Entry or TSA PreCheck® ⚬ Priority Pass Select lounge access ⚬ Plaza Premium lounge access ⚬ Cell phone insurance ⚬ Trip delay / cancellation insurance ⚬ Primary CDW coverage Redeem miles for travel at value of 1 cent per mile ⚬ Convert "miles" to airline miles & hotel points ⚬ No foreign transaction fees

Capital One Spark Miles for Business
50K Miles
Earn a one-time bonus of 50,000 miles once you spend $4,500 on purchases within the first 3 months from account opening

No Annual Fee First Year, Then $95

Note: Most Capital One Business credit cards (including this one) DO count against Chase's 5/24 Rule

Recent better offer: Earn up to 200K "miles": 50K after $5K spend in the first 3 months from account opening and an additional 150K after $50K spend in the first 6 months from account opening [Expired 1/27/20 and breifly available in 2021]

FM Mini Review: This card is similar to the Spark Cash Plus card, but it has the advantage that "miles" earned with this card can be transferred to a large number of airline & hotel programs.


Card Type: Mastercard

Base
Travel

Earning rate: 2X everywhere ⚬ Earn 5X miles on hotel and rental car
bookings through Capital One Travel

Noteworthy perks: Redeem miles for travel at value of 1 cent per mile ⚬ Convert "miles" to airline miles & hotel points ⚬ No foreign transaction fees ⚬ Fee credit for either $85 TSA Pre✓® application fee or $100 Global Entry application fee

Capital One Spark Cash Select – $500 Cash Bonus
$500 Cash Back
Earn a $500 bonus when you spend $4,500 in the first 3 months of account opening

No Annual Fee

FM Mini Review: This is a good option for business owners looking for simple cash back rewards with no annual fee. If you spend $30,000 or more per year, though, you would be better off with the 2% Spark Cash Plus card.


Card Type: Mastercard

Base
1.5%
Travel
5%

Earning rate: 1.5% everywhere ⚬ 5% on hotels and rental cars booked via Capital One Travel

Noteworthy perks: No foreign transaction fees

Capital One Spark Cash Plus
Up to $1,000
Earn up to a $1,000 cash bonus; $500 once you spend $5,000 in the first 3 months, and $500 once you spend $50,000 in the first 6 months of account
opening

$150 Annual Fee

Note: This card is not expected to count against Chase's 5/24 Rule

Recent better offer: Expired 3/14/22: $3K after $50K spend in 6 months

FM Mini Review: This may be a good option for business owners who prefer simple cash back rewards.


Card Type: Mastercard

Base
2%
Travel
5%

Earning rate: 2% everywhere ⚬ 5% on hotels and rental cars booked via Capital One Travel

Big spend bonus: Earn a $200 cash bonus each year you spend $200,000 or more on the card

Noteworthy perks: No foreign transaction fees ⚬ No preset spending limit

Capital One VentureOne Rewards Credit Card
20K miles
Earn a bonus of 20K after $500 spend in 3 months from account opening

No Annual Fee

Alternate offer: Some people are targeted for a 40K offer. See this post for more detail.

FM Mini Review: Decent welcome bonus for a fee-free card, but other cards offer better rewards for ongoing spend.


Card Type: Mastercard

Base
1.25X
(1.81%)
Travel
Other

Earning rate: 1.25X everywhere ⚬ 5X on hotels and rental cars booked via Capital One Travel

Noteworthy perks: Redeem miles for travel at value of 1 cent per mile ⚬ Convert "miles" to airline miles & hotel points ⚬ No foreign transaction fees

Capital One Spark Miles Select Business Credit Card

FM Mini Review: This card is similar to the Spark Cash Select for Business, but rewards are intended to be used to offset travel purchases. This is a good option for business owners who prefer simple rewards with no annual fee, and who value free travel over cash back. If you spend more than $19K per year, though, go for the 2X Spark Miles card.


Card Type: Mastercard

Base
Travel

Earning rate: 1.5X everywhere ⚬ Earn 5X miles on hotel and rental car bookings through Capital One Travel

Noteworthy perks: Redeem miles for travel at value of 1 cent per mile ⚬ Convert "miles" to airline miles & hotel points ⚬ No foreign transaction fees

Capital One Savor

FM Mini Review: Excellent cash back card for dining and entertainment spend.


Card Type: Mastercard

Base
1%
Travel
5%
Dine
4%
Grocery
3%
Other
4%

Earning rate: 4% cash back on dining, entertainment, and popular streaming services ⚬ 3% at grocery stores ⚬ 1% everywhere else ⚬ 8% cash back on Capital One Entertainment purchases and tickets at Vivid Seats ⚬ 5% on hotels and rental cars booked via Capital One Travel

Noteworthy perks: No foreign transaction fees

Capital One Quicksilver
$200 Cash Back
One time bonus: $200 after $500 spend in 3 months from account opening

No Annual Fee

FM Mini Review: While you can do better with a no-fee 2% cash back card, the Quicksilver card often offers excellent discounts with popular services such as Uber or Spotify.


Card Type: Mastercard

Base
1.5%
Travel
5%
Other
5%

Earning rate: 1.5% everywhere ⚬ 5% on hotels and rental cars booked via Capital One Travel

Noteworthy perks: No foreign transaction fees

Capital One SavorOne Cash Rewards Credit Card
$200 Cash Back
One time bonus: $200 after $500 spend in 3 months from account opening

No Annual Fee


Card Type: Mastercard

Base
1%
Travel
5%
Dine
3%
Grocery
3%
Other
3%

Earning rate: 3% on dining, entertainment, select streaming services, and purchases at grocery stores ⚬ 1% everywhere else ⚬ 8% cash back on Capital One Entertainment purchases and tickets at Vivid Seats ⚬ 5% on hotels and rental cars booked via Capital One Travel

Noteworthy perks: No foreign transaction fees

A note about Capital One credit card applications

When you apply for a Capital One credit card, you’ll usually get hard inquiries on all three credit bureau reports (most banks pull from just one or two).  This can be an issue if you already have a lot of inquiries.  Some who apply for cards often like to balance out their inquiries by applying for cards from issuers that pull from different bureaus in order to avoid getting denied for future applications due to “too many recent inquiries”.  If you only apply for a few cards per year, this is probably not going to be an issue for you.  To see which credit bureaus each bank pulls from in your state, search the CreditBoards Credit Pulls Database.

Also note that Capital One does report business credit cards to the credit bureaus.  So, unlike business cards from most other banks, Capital One business cards will count against your 5/24 status which can make it harder to get certain Chase credit cards in the near future.  More info can be found here.

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Ma'am

I agree that Capital One is not the best choice (my experience is with personal CC as I don’t have any gigs to do business CC). We got Venture cards (1 for me + 2 for spouse) and canceled them after one year and have been denied ever since.

I also read a few times that Capital One doesn’t really like to issue more than 2 personal CC’s to the same applicant. I’ve even considered to cancel my Quicksilver because I’ve not used it for years. I’d love to decrease the # of CC’s I have, but OTOH I’ve had Quicksilver for so long I’m hesitant to cancel it. I wonder how many points I’d lose on my FICO score if I did it and how long it would take to regain them.

jit

Also worth noting that their business cards show up on personal credit report if the owner’s SSN is used in the application instead of an EIN. Found this out the hard way after making a $20,000 charge for a conference site 2 weeks before trying to refinance my house. I reached out to Cap1 to ask them to remove the account from my personal report and was told no.

jit

Sorry. Missed that. Read too fast. That’s a really important point these days. I don’t recall seeing that anywhere other than your article.

DCJoe

Greg, you might want to think about highlighting that Capital One often denies applicants who have very good credit and a lot of open cards. Their sweet spot customer is one with okay credit who has pretty good income and thus might run up some debt on the card and pay interest over time. They have little desire to have churners or people who will pay the card off in full each month as customers.

I got a couple of Capital One cards no problem back before I started churning in earnest, and have been denied by them twice since then. Read similar reports on reddit and flyertalk. Seems likely many of your readers will be wasting 3 (!) hard pulls for nothing by applying for Capital One cards.

Daniel Puffington

Your analysis makes sense. A few years back, Cap One readily handed me two credit cards (a journey and a quicksilver) within a year after declaring bankruptcy. I found it strange, even considering that I had discharged like 14k alone on a Cap One card during said bankruptcy. XD