Questions about Capital One and their new Cash

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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JohnB222
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Postby JohnB222 » Sun Sep 11, 2011 1:22 pm

I got approved for the PenFed one with 8k CL, and got approved with Sapphire Preferred and they said I will receive additional info in the mail. Thanks everyone for your help!
[font=Arial][CENTER]Amex Blue Cash Everyday - 22k CL | Chase Hyatt - 15k CL

PenFed Platinum Rewards - 12k CL | Chase Sapphire Preferred - 8k CL | Chase Freedom - 5k CL[/CENTER][/font]


ooxs
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Postby ooxs » Sun Sep 11, 2011 8:45 pm

Congratulations. I know the feeling and hope you will share your experience with us.

CC Deville
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Postby CC Deville » Mon Sep 12, 2011 4:26 pm

JohnB222 wrote:I got approved for the PenFed one with 8k CL, and got approved with Sapphire Preferred and they said I will receive additional info in the mail. Thanks everyone for your help!



Congratulations on the PenFed!

JohnB222
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Postby JohnB222 » Fri Sep 16, 2011 8:47 pm

Just got my Sapphire Preferred card in the mail today, boy is it a cool card...it's like made of metal reminds me of black card. It has a 8k CL on it as well, which card do you think I should try for a CLI first? And after how long should I wait???

THANKS EVERYONE!!!!! :D
[font=Arial][CENTER]Amex Blue Cash Everyday - 22k CL | Chase Hyatt - 15k CL



PenFed Platinum Rewards - 12k CL | Chase Sapphire Preferred - 8k CL | Chase Freedom - 5k CL[/CENTER][/font]

CC Deville
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Postby CC Deville » Sat Sep 17, 2011 10:51 am

JohnB222 wrote:Just got my Sapphire Preferred card in the mail today, boy is it a cool card...it's like made of metal reminds me of black card. It has a 8k CL on it as well, which card do you think I should try for a CLI first? And after how long should I wait???

THANKS EVERYONE!!!!! :D


I really suggest taking it easy for the time being.

You should be seeing a yellow box on PenFed when you log into your account soon. This is known as the Pre-Approved, or rather Approved box. It will offer you additional products and eventually a credit line increase option on your current card. PenFed gives very generous credit lines as they want to be your main card.

Chase will ALWAYS pull a new Experian if you request a CLI. Now, I opened a Freedom Visa Signature in 11/2010 with an initial credit line of $7,000 and in 8/2011 they gave me an automatic $3,000 CLI for a current limit of $10K. No inquiry and I didn't request it. So, use your card a lot, pay it in full and Chase will likley give you an automatic CLI even before the card hits a year. Of course, your mileage may vary from my own.

You have kept your nose clean all these years, so don't get caught up in all these approvals.

JohnB222
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Postby JohnB222 » Sat Sep 17, 2011 4:26 pm

You continue to be a huge help!

I just logged in and see the pre-approved box already (however this is for an auto loan and 1.99% promo), but that info really helps. I believe the Sapphire Preferred is a no pre-set spending limit card so even though my CL is 8k it isn't reported and I can go over if need be. The PenFed one is reported and I cannot go over it, so that one is more important to keep high. Plus I do not want any hard pulls, but will keep on lookout for automatic increases.

Thanks, again.
[font=Arial][CENTER]Amex Blue Cash Everyday - 22k CL | Chase Hyatt - 15k CL



PenFed Platinum Rewards - 12k CL | Chase Sapphire Preferred - 8k CL | Chase Freedom - 5k CL[/CENTER][/font]

jeffysdad
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Postby jeffysdad » Sat Sep 17, 2011 7:38 pm

CapOne More Cash works out to a return of 1.5% after you get the 50% bonus. Meh. There are better deals out there. Pass.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).

*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.

CC Deville
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Postby CC Deville » Mon Sep 19, 2011 7:28 pm

JohnB222 wrote:You continue to be a huge help!

I just logged in and see the pre-approved box already (however this is for an auto loan and 1.99% promo), but that info really helps. I believe the Sapphire Preferred is a no pre-set spending limit card so even though my CL is 8k it isn't reported and I can go over if need be. The PenFed one is reported and I cannot go over it, so that one is more important to keep high. Plus I do not want any hard pulls, but will keep on lookout for automatic increases.

Thanks, again.


Sounds good. Give it a few months and your PenFed Pre Approved box should fill up with additional offers. And you are right about Chase. The limit doesn't report so for sure no reason to waste an inquiry for a CLI. They will likley increase the credit line on their own within the year as long as the card is used.

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bisbicos
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Capital One Cash Rewards

Postby bisbicos » Mon Oct 24, 2011 1:27 am

So ive seen a bunch of commercials recently for Capital One's new Cash rewards credit card which boasts an annual 50% cash back bonus annually. It also offers a 1% cash back on everything. Am I correct saying this card offers 1.5% cash back?

whats everyone's thought on this new card?

heres capital ones link
Capital*One Cash
Credit Cards
American Express: Fidelity Rewards (2% cash back) 9.5k
Zync NPSL
Discover: Discover More (5% rotating categories) 12k
Mastercard: Chase Freedom (5% rotating categories) 4.6k
Visa: Citi Forward (5x pts on restaurants) 15.7k
Citi Dividend (5% rotating categories) 5.6
Capital One Journey (1.25% cash back) 1.25k
BofA AAA (5% on gas) 2.5k
PenFed Platinum Rewards (5% on gas 3% groceries) 7.5k

Future Cards
US Bank Cash +
Chase Ink

CC Deville
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Postby CC Deville » Mon Oct 24, 2011 6:18 pm

It gives you an annual bonus of .50% on your total annual reward, so it does seem like 1.5%. From what I have read about it, it seems to get pretty decent reviews.

I like the commercial with the kid who doesn't want the extra cash. It really depends on what you spend your money on most. If you are a big grocery store and gasoline guy, the BofA Bank Americard Cash Reward card would be better as you would get 3% on gas and 2% on groceries and 1% on everything else. Also, Amex's Blue Cash Preferred has great cash back (with an annual fee of course). If you don't have any one catagory that you spend more on and if you are a frequent international traveler (Cap 1 does not have a foreign trans fee) then this could be the card for you.

I will say that Capital One has some of the ugliest credit card designs of any bank out there. I don't think that is important to most people, but good lord. They need to hire a new marketing department.



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