Comments on: FREE $50 Offer @ Capital One Credit Cards

By: Drew Miller

Drew Miller — Tue, 11 Sep 2007 19:25:02 +0000

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.

By: ichkoguy

ichkoguy — Sun, 29 Jul 2007 15:59:53 +0000

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.

By: Bankaholic.com

Bankaholic.com — Wed, 25 Jul 2007 05:36:22 +0000

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

By: Bankaholic.com

Bankaholic.com — Tue, 24 Jul 2007 20:33:53 +0000

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.

By: Nathan

Nathan — Tue, 24 Jul 2007 20:20:14 +0000

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

By: James

James — Tue, 24 Jul 2007 20:09:51 +0000

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

By: lily

lily — Sun, 22 Jul 2007 17:33:36 +0000

what annual fee???

By: James

James — Sat, 21 Jul 2007 08:34:10 +0000

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.

By: Cherry

Cherry — Fri, 20 Jul 2007 20:45:54 +0000

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.

By: KJones

KJones — Fri, 20 Jul 2007 20:40:44 +0000

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!

By: Art

Art — Fri, 20 Jul 2007 09:57:00 +0000

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.

By: michelle b

michelle b — Fri, 20 Jul 2007 06:15:21 +0000

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