The Capital One Cash Rewards line of credit cards gives cardholders several incentives to use their cards, but you must have an excellent credit history in order to be approved. One of the major reasons that consumers are interested in the Capital One Cash Rewards credit cards is because they have the opportunity to receive a yearly cash back bonus that amounts to half of what they have earned. If you meet Capital One’s credit requirements, you can receive one of these low interest credit cards and earn money for using your credit card on a regular basis.
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Capital One may be one of the most easily recognizable names in the credit card industry, but their products are not ranked the highest among competitors. JD Power surveys credit cardholders every year to see which companies best serve their customers. Although Capital One was not this year’s winner, it still seems that Capital One cardholders are largely satisfied.
Capital One Cash Rewards Details
New Capital One Cash Rewards credit cardholders receive $100 once they have maintained their accounts for a minimum of three months and accumulate $500 in charges. Technically, these rewards credit cards only give cardholders a 1% cash return on their purchases, but the $50 yearly bonus helps to make this an attractive card.
Cardholders do not need to wait for Capital One to issue their cash back rewards. Instead, Capital One Cash Rewards cardholders get to request payments at virtually any time.
Capital One Cash Rewards Interest Rates
The introductory rate on purchases for the Capital One Cash Rewards credit card is good for a year. These personal credit cards vary in interest rates, so the higher your credit score, the better your APR will be.
With a steep penalty APR of 24.9%, you should only apply for the Capital One Cash Rewards credit card if you are sure that you will be able to make the minimum monthly payments. Capital One also charges 3% interest on credit card balances moved onto this card.
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