- Centurion Member
- Posts: 232
- Joined: Sun Jul 17, 2011 11:47 am
- Website: http://www.ivotedale.tumblr.com/
- Location: Mesa, AZ
The Cap 1 Newcomers is one of my oldest cards- I've certainly lived here in the US my entire life and was approved.
I do remember having the same question running in my mind before applying, but after looking at the terms+conditions, and at the time I applied anyway, there was nothing mentioned about being from out of the country.
It def. is a great stepping stone, since a couple years later I'm in with Amex and Chase, but there are probably better options for longer-term use. It's in the sock-drawer for me, strictly because of the weak credit limit (capped CL at $750). Although, since it is a "platinum Mastercard" of sorts, I verified w/ both Cap 1 and Mastercard it IS eligible for concierge service. I don't use it, but handy.
Other benefits include no-foreign transactions fees, and 2% on travel I believe. I didn't really know this until I was bored one day and reviewed the terms again.
And as S.Jessica mentioned, it is certainly targeted to those with average credit scores, or none-at-all. It's an okay starter card imo.
If you're thinking longer-term, I would aim to pay off any balances every month in full (if you already don't), and keep a lower spending utilization % to increase your credit score, and aim for a higher-tier card. I know I wanted to grow out of Cap 1 the first year I had it.
Currently: American Express Blue Sky, American Express Zync, Chase Freedom Visa, Capital One Newcomers--->converted to Capital One Quicksilver Mastercard NO AF