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Capital One Cash Rewards For Newcomers

Written by elliottavatar

There are many types of reward credit cards, and newcomers to the concept may find the possibilities confusing.  Capital One keeps it simple with the Cash Rewards for Newcomers card.  This card is particularly well suited to those individuals that have little or no credit history or to those with average credit that want to build a better credit score.  Membership is free, making this an attractive way to earn rewards while developing a positive credit history.

Eligibility for the Cash Rewards for Newcomers program is based on an average credit score.  If you have had late payments of more than 60 days but less than 90 days, this may be a great choice for you.  If you’ve had a single bankruptcy or loan default in the last five years, your hope of rebuilding your credibility is possible with a program like Cash Rewards for Newcomers.  If you are a student or an individual with a limited credit history of less than three years, this is an excellent tool for building your credit score.

Rewards are computed simply.  Travel purchases earn two percent cash back while all other purchases earn one percent cash back.  Shopping through Capital One’s Perk Central network allows for additional cash back opportunities, up to 15 percent with some retailers.  Your cash back potential is unlimited, and can be received as a check or account credit.  It’s also possible to set up automatic redemptions of your rewards.

Using the Cash Rewards for Newcomers program from Capital One provides additional opportunities.  While many companies assess foreign transaction fees for out of the country use, Capital One does not.  If you have foreign travel plans, this is an excellent benefit.  Capital One provides an interactive guide, MoneyWi$e, that provides helpful counsel and tools for teaching you about financial decisions. Capital One gives you the opportunity to learn about your credit decisions and options.

Many families love the idea of using rewards cards to earn a bonus based on their spending.  Using the Cash Rewards for Newcomers, you can build a positive credit history while earning those incentives.  Your fast payment of your balances can help you to improve your credit score, and those cash rewards are perfect for stretching your budget.