bank rates

FREE $50 Offer @ Capital One Credit Cards

CAPITAL ONE CREDIT CARD BONUS OFFERI was watching TV just now, and there was a Capital One commercial that touted a FREE $50 Bonus Offer for signing up for Capital One Rewards Credit Card.

You sign up for the credit card, make a purchase, and your account will be credited within 8-12 weeks with a $50 opening bonus credit. This is a VISA card, so it’s accepted everywhere. Capital One also has a deal with Yahoo! Shopping to offer up to 40% back on purchases from qualifying merchants.

In addition, this card offers 1% cash rewards on ALL purchases. And also, every November, Capital One will award you with a 25% bonus on your rewards. Basically, if you accrue $1000 in rewards bonuses that year, Capital One will give you a $250 bonus on top of that amount. So actually, you’re getting 1.25% cash back on all purchases. Staying true to its trademark of being a “No Hassle Card,” there is no limit or cap on how much you can make.

I personally will pass on this card, since I already have too many credit card bonuses to manage. I still have to wrap up the deal with the free airline ticket from American Express, and get around to redeeming my bonus 10,000 Starpoints from the Starwood credit card. Now that I think about it, American Express is basically giving away a free mini vacation for signing up for their AmEx Gold Rewards & Starwood Preferred Guest Card. Use the airline ticket to go somewhere fun, and redeem the Starpoints for 3 free hotel nights.

Still, I think this is a good credit card offer for someone who needs a credit card anyways. Why turn down an easy $50?

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Comments (12)
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12 Existing Comments
  1. michelle b said:
    on July 20th at 06:15 am

    that’s a pretty sweet offer. thanks for posting! 🙂

  2. Art said:
    on July 20th at 09:57 am

    Actually if you spend $1,000 you will receive $10 back or 1%. And on top of that you will receive 25% of your reward. So you will receive an extra $2.50 (25% of $10) on top of your $10 for a total of $12.50.

    Hope this clarifies things, don’t want people to get confused.

  3. KJones said:
    on July 20th at 08:40 pm

    Hi,
    I already have a card that gives me bonus points for every purchase as long as I use the card as a credit and not a POS point of sale debit transaction. The bad thing about the card I have now is that it is a prepaid card.

    I am looking for a card that will offer me credit and also give me rewards that are not limited to fly mile bonus points. I do not fly, but I love to spend and I appreciate a company that takes my particular needs into consideration. I am signing up today for Capital One card that you have listed in your blog post. I will let you know about the rewards and how long it takes me to get the 50 dollar bonus (if I get approved!). Wouldn’t it feel nice for the credit card companies to actually owe us something for a change. Having a negative balance on a credit card account is something I’ve never managed. I bet I can do it with this 50 dollar bonus! Thanks for sharing this great find. I’m looking forward to experiencing that terrific apr annual percentage rate as well!

  4. Cherry said:
    on July 20th at 08:45 pm

    The thing is that I already own too many credit cards right now. But at the time that I signed up with my first credit card, there was not any flashy offer like this. At that time every banks only compete to serve the lowest annual fee and the lowest interest rate. Then slowly the reward program was introduced, of course I signed up again for another one.

    Frankly I envy the credit card offer nowadays, cash back, huge reward, free prize, the bank is handling tons of freebies. Of course this might come with huge interest rate as compensation. An enticing cash back and reward program will usually lead to excessive usage, that was what I did anyway, shopping frenzy to earn reward points.

  5. James said:
    on July 21st at 08:34 am

    Although the interest rate is good for those with blemishes on their credit history (16.89%) the annual fee does cancel this out, and with 12 months and 1 day of usage you will have lost your $50 bonus as you will have paid $58 in two annual fees and received $50 (you could look at it as a $21 loan at 38.1% interest). The same goes for those with little or no credit history.

    However if you have an “excellent” or “above average” credit rating there are no annual fees – and you get a 13.89% rate if you have “excellent” credit. In this case the $50 really is free.

  6. lily said:
    on July 22nd at 05:33 pm

    what annual fee???

  7. James said:
    on July 24th at 08:09 pm

    There’s an annual fee of $29 if you have a credit rating other than “excellent” or “above average”. If you have a good credit rating then you have no annual fee.

    The annual fee applies to people who answer yes to the following:

    – I currently have or have had a U.S. loan or credit card
    – My credit limit on a current credit card, if any, is less than $5,000
    – I may have been late on more than one credit card, medical bill, or loan payment in the last six months

  8. Nathan said:
    on July 24th at 08:20 pm

    Why do you think they offered a free $50 for the credit card?

  9. Bankaholic.com said:
    on July 24th at 08:33 pm

    Credit card companies always offer signup bonuses. They give you $50 now, hoping you will rack up a lot of debt and make them thousands over the span of your life.

  10. Bankaholic.com said:
    on July 25th at 05:36 am

    James,
    Thanks for pointing that out, I didn’t notice it in the terms and conditions of the credit card.

  11. ichkoguy said:
    on July 29th at 03:59 pm

    hey,
    the offer is better to watch out for redeem and for the bonus. But do take care for the other charges while making any purchase from this card. That is where people loose the string of cash.

  12. Drew Miller said:
    on September 11th at 07:25 pm

    Another thing to note about Capital One credit cards is that they currently have no surcharge on foreign purchases, compared to most other companies charging 3%. That is a potentially huge difference if you are planning any international travel.