Capital One credit card mini-reviews

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 signup 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.

Capital One® Venture® Rewards Credit Card
50K "miles"
One time bonus: 50K after $3K spend in 3 months from account opening

No Annual Fee First Year, Then $95

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 at a 2 to 1.5 ratio.


Card Type: Visa Signature

Base

Earning rate: 2X everywhere

Noteworthy perks: Earn 10x miles on hotels through January 2020; learn more at hotels.com/venture ⚬ Receive up to $100 application fee credit for Global Entry or TSA Pre✓® ⚬ Redeem miles for travel at value of 1 cent per mile ⚬ Convert "miles" to airline miles at a (mostly) 2 to 1.5 ratio ⚬ No foreign transaction fees

Capital One® Spark® Miles for Business
50K "miles"
Earn a one time bonus: 50K after $4500 spend in the first 3 months from account opening

No Annual Fee First Year, Then $95

Recent better offer: Expired 1/28/19: Up to 200K miles: 50K after $5K spend in 3 months from account opening. Earn an additional 150K miles when you spend $50K on total purchases within the first 6 months.

FM Mini Review: This card is basically the same as the Spark Cash for Business, but rewards are intended to be used to offset travel purchases. One big advantage over cash back: Capital One allows transfering their "miles" to airline miles at a 2 to 1.5 ratio.


Card Type: Visa Signature

Base

Earning rate: 2X everywhere

Noteworthy perks: Redeem miles for travel at value of 1 cent per mile ⚬ Convert "miles" to airline miles at a (mostly) 2 to 1.5 ratio ⚬ No foreign transaction fees

Capital One® Spark® Cash for Business
$500 Cash Back
Earn a one time bonus: $500 after $4500 spend in 3 months from account opening

No Annual Fee First Year, Then $95

Recent better offer: Expired 1/28/19: Up to $2,000 cash back: $500 after $5K spend in 3 months from account opening plus $1500 cash back after $50K total spend within 6 months from account opening.

FM Mini Review: Many cards offer unlimited 2% cash back, but this is the only business card I know of that does so. This is a good option for business owners who prefer simple cash back rewards.


Card Type: Visa Signature

Base
2%

Earning rate: 2% everywhere

Noteworthy perks: No foreign transaction fees

Savor Rewards from Capital One
$500 Cash Back
Earn a one time bonus: $500 after $3K spend in 3 months from account opening

No Annual Fee First Year, Then $95

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


Card Type: Mastercard

Base
1%
Dine
4%
Grocery
2%
Other
4%

Earning rate: 4% cash back on dining and entertainment ⚬ 2% at grocery stores ⚬ 8% back on tickets at Vivid Seats through May 2020 ⚬ 1% everywhere else

Noteworthy perks: Get a monthly statement credit for a Postmates Unlimited monthly membership through Dec. 2019

Capital One® VentureOne® Rewards Credit Card
20K "miles"
One time bonus: 20K after $1K spend in 3 months from account opening

$0 Annual Fee

FM Mini Review: Many no-fee cards offer better rewards, so there's no point in using this card after collecting the signup bonus.


Card Type: Visa Signature or Platinum

Base
1.25X
(1.7%)

Earning rate: 1.25X everywhere

Noteworthy perks: Earn 10x miles on hotels through January 2020; learn more at hotels.com/venture ⚬ Redeem miles for travel at value of 1 cent per mile ⚬ Convert "miles" to airline miles at a (mostly) 2 to 1.5 ratio ⚬ No foreign transaction fees

Capital One® Spark® Miles Select for Business
20K "miles"
One time bonus: 20K after $3,000 spend in 3 months from account opening

$0 Annual Fee

FM Mini Review: This card is basically the same as 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: Visa Signature

Base

Earning rate: 1.5X everywhere

Noteworthy perks: Redeem miles for travel at value of 1 cent per mile ⚬ Convert "miles" to airline miles at a (mostly) 2 to 1.5 ratio ⚬ No foreign transaction fees

Capital One® Spark® Cash Select for Business
$200 Cash Back
One time bonus: $200 after $3,000 spend in 3 months from account opening

$0 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 more than $19,000 per year, though, you would be better off with the 2% Spark Cash card.


Card Type: Visa Signature

Base
1.5%

Earning rate: 1.5% everywhere

Capital One® Quicksilver® Cash Rewards Credit Card
$150 Cash Back
One time bonus: $150 after $500 spend in 3 months from account opening

$0 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: Visa Signature or Platinum

Base
1.5X
(1.5%)

Earning rate: 1.5% everywhere

Noteworthy perks: 0% Intro APR for 15 months on purchases and balance transfers, then 16.24% - 26.24% (Variable)

Capital One® SavorOne℠ Cash Rewards Credit Card
$150 Cash Back
One time bonus: $150 after $500 spend in 3 months from account opening

$0 Annual Fee

FM Mini Review: The combination of 3% cash back on dining and no foreign transaction fees would be attractive for a no annual fee card, but the Barclaycard Uber card eclipses this one by offering 4% cash back for dining.


Card Type: Mastercard

Base
1%
Dine
3%
Grocery
2%

Earning rate: ⚬ 3% on dining ⚬ 2% on purchases at grocery stores ⚬ 1% everywhere else

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 sign up for cards often like to balance out their inquiries by signing up 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 sign up 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.

Last updated on January 29th, 2019

Regarding comments: Comments posted at the bottom of Frequent Miler pages and posts are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.

About Greg The Frequent Miler

Greg is the owner, founder, and primary author of the Frequent Miler. He earns millions of points and miles each year, mostly without flying, and dedicates this blog to teaching others how to do the same.

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Ma'amjitGreg The Frequent MilerDaniel PuffingtonDCJoe Recent comment authors

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DCJoe
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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
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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

jit
Guest
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.

Ma'am
Guest
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.