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In my opinion, the Capital One Cash Rewards for Newcomers is a reputable credit card issued by Capital One Financial for people with limited or no credit history who are trying to improve their credit score while earning cash back, especially when traveling. This MasterCard offers up to 2% cash back on travel expenses as well as 1% cash back on all other purchases.
If you have had credit cards for less than 3 years or never had any credit card, read on to find out what we think of Capital One Cash Rewards for Newcomers, one of the best credit cards for people who are new to credit cards.
Things We Like About This Card
No annual fee. This is a great benefit as you won't have to spend any money on annual or monthly fees in order to have this card. Most cards designed for newcomers usually have an annual fee.
Earn 2% cash back for every dollar you spend on airfares and hotel stays. If you travel frequently, whether internationally or around the U.S., this card's cash back program will benefit you immensely, as you will be earning rebates on your travel spending as well as ordinary spending.
Earn 1% cash back on every dollar spent on other purchases. This means that apart from earning cash rewards on your travel purchases, you will earn money each time you spend on all other things with your Capital One card.
Redeem your cash back for gift cards, checks or account credit. To redeem your cash back rewards, you can phone the Rewards Center, request for your cash back online, or select the automatic cash back redemption option.
The cash back you earn does not expire and there's no limit to the cash you can earn. This is great if you're planning on saving up your cash rebates for an occasion in the future. Remember that you must use your card and not leave it inactive in order for your points not to be lost, because if your account is closed, your points will be gone as well.
No foreign transaction fee. If you travel abroad and buy things in a different currency, you won't have to pay any extra fee for using your card, unlike many other credit cards which charge a fee.
No balance transfer fee. When transferring a balance from another card to this one, you won't have to pay any balance transfer fee. Remember though that your APR on balance transfers is a high 24.9% variable.
$100,000 travel accident insurance. If you meet with an accident that results in death or dismemberment during your travels which you had paid for in full with this Capital One credit card, you will be covered up to $100,000 of travel accident insurance.
Auto rental insurance which will insure your rented vehicle against damage, loss or theft.
$0 Fraud Liability, which means that you will not have to pay back a single cent in the case of someone making a fraudulent purchase on your card if your card is lost or stolen.
24 hour roadside and travel assistance services. These services allow you to travel safely and have the help and assistance you need while on the road, as well as helping you if you encounter problems with your card or if it gets lost.
Extended warranty of up to a year on most products you buy with this card if the original warranty lasts up to 12 months.
Our Least Favorite Things About This Card
No introductory APR on purchases. The variable APR on purchases will be a high 24.9%, so you must remember to pay off your card bill in full each month so that you don't have to pay any fee or interest rate!
If you are considering getting your first credit card and want one that lets you earn cash back rewards, the Capital One Cash Rewards for Newcomers is a good choice of card. It is a credit card with no annual fee that offers 2% cash back on every dollar spent on hotels and air tickets, as well as 1% cash back on every dollar spent on other purchases. This cash rewards feature is what sets it apart from other cards that cater to beginners. The rebates you earn do not expire and there is no limit to the rebates you can earn, which allows you to save them or spend them anytime you wish.
This card also offers many MasterCard benefits, such as travel accident insurance of up to $100,000, auto rental insurance, extended warranty and more. If you've never had a credit card before, you will benefit the most from the Capital One Cash Rewards for Newcomers.
updated Aug 28, 2016
Katrina Gutierrez is a writer at GET.com, a lifestyle and personal finance website. Email: email@example.com.
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At GET.com we compare credit cards and rate them objectively based on the credit card's features, interest rates and fees.
Cards are rated by our team based primarily on the basis of value for money to the cardholder. The GET.com team rates each card based on its annual fee, rewards, benefits, bonus, introductory APR, ongoing APR, flexibility (in how its benefits can be used and how rewards are earned and redeemed), and other card features.