There are many facets to maximizing your bank card rewards, together with making the most of one of the best welcome bonuses, spending classes, and card perks.
Typically I believe it’s attention-grabbing to interrupt down bank card methods by card issuer, so on this publish I wished to share my present Capital One card technique. In separate posts I wrote about my Amex card technique, Chase card technique, and Citi card technique.
Capital One is a card issuer the place my emotions have advanced considerably, as Capital One has gotten extra aggressive within the transferable factors house. A number of years in the past I didn’t have any Capital One playing cards, whereas now Capital One is the cardboard issuer with which I spend essentially the most.
Right here’s a rundown of what you could know to be accepted for a Capital One card, a abstract of my technique, after which which Capital One card I’m most involved in making use of for.
Restrictions on making use of for Capital One playing cards?
All playing cards issuers have some software restrictions in place to get accepted for playing cards. Amongst card issuers, Capital One has the fewest constant restrictions, although:
- Capital One doesn’t actually have any constant guidelines on being accepted for playing cards, aside from that you would be able to sometimes earn the bonus on a card as soon as
- Capital One typically pulls credit score from all three bureaus, although that shouldn’t be a giant deal a technique or one other, for my part
- Making use of for Capital One enterprise playing cards shouldn’t depend as an additional card towards Chase’s 5/24 restrict, if that’s a consideration
For extra of a way of what it’s prefer to be accepted for playing cards, see my information to Capital One Enterprise X approval, my information to Capital One Spark Money Plus approval, and my information to Capital One SavorOne approval.
Which Capital One playing cards do I’ve?
Whereas I’ve effectively over two dozen credit, I “solely” have 4 Capital One playing cards:
How do I exploit my Capital One playing cards?
Capital One has one of the best bank cards for on a regular basis spending, for my part, provided that a number of playing cards earn 2x Capital One miles per greenback spent, with no caps and no international transaction charges. These rewards can then be transfered to Capital One’s glorious airline & lodge companions, largely at a 1:1 ratio. That’s why I spend extra on Capital One bank cards than every other playing cards.
For some context on these seemingly totally different rewards currencies:
- Enterprise and Spark miles are just about equivalent, as they can be utilized in the identical approach, and will be pooled
- Capital One money again will be transformed into Capital One miles together with a card incomes these miles, on the fee of 1 cent per mile; which means 2% money again on the Capital One Spark Money Plus can get me 2x Enterprise or Spark miles, and that 3% money again on the Capital One SavorOne can get me 3x Enterprise or Spark miles
As you may inform, I’ve three playing cards incomes 2x transferable factors (one private and two enterprise), so let me share a bit extra about how I justify these playing cards.
The Enterprise X pays for itself
As talked about above, I spend essentially the most on the Capital One Enterprise X, since you may’t beat incomes 2x transferable factors per greenback spent with no international transaction charges. I worth Capital One miles at 1.7 cents every, so to me the cardboard gives a 3.4% return on spending.
The catch, theoretically, is that the Capital One Enterprise X has a $395 annual payment. That’s quite a bit to pay for a bank card. Luckily the cardboard greater than pays for itself, because of all the good perks. On essentially the most fundamental stage, the cardboard gives a $300 annual journey credit score and 10,000 anniversary bonus miles, which I worth at greater than $395.
And that’s solely the beginning, as the cardboard additionally gives a Precedence Cross membership, Plaza Premium lounge entry, superb approved consumer perks, and a lot extra. There’s merely no query that the maths works out on this card.
Deciding between the Spark Miles & Spark Money Plus
For me, the a lot more durable resolution is between the $95 annual payment (waived for the primary 12 months) Capital One Spark Miles for Enterprise and the $150 annual payment Capital One Spark Money Plus. Whereas one is a factors incomes card and the opposite is a money again card, for my functions the playing cards earn the identical rewards, as I can convert the money again into miles.
So when the annual charges are due on these playing cards, I’ll probably hold one however not the opposite, since they’re a bit redundant. Which is able to I hold?
- The Capital One Spark Miles for Enterprise has the good thing about having an ongoing annual payment that’s $55 decrease
- The Capital One Spark Money Plus has the benefit of being a cost card (so it has no pre-set spending restrict), and the cardboard additionally gives a $150 money bonus should you spend $150,000 on the cardboard yearly, which greater than wipes out the annual payment
So I would like to determine what I’m going to do there. If I can meet the spending bonus on the Capital One Spark Money Plus then I’ll in all probability hold that, whereas if I can’t, I’ll in all probability hold the Capital One Spark Miles for Enterprise.
The SavorOne is very underrated
The no annual payment Capital One SavorOne is certainly one of my latest bank cards, and it’s one which I’m utilizing fairly a bit. To start with, there’s worth in holding onto playing cards in the long term, as it might assist your credit score rating, and it’s very best to do this with a no annual payment card. In order that alone is a purpose I plan to carry onto this card.
What makes me most enthusiastic about this card is the partnership between Capital One and Uber. By November 14, 2024, you can’t solely obtain a complimentary Uber One membership, however it’s also possible to obtain 10% money again with Uber and Uber Eats, which is large.
On prime of that, I’m excited to have a Capital One card with nice bonus classes, as my different Capital One playing cards are simply very best for on a regular basis spending. This can be a phenomenal complement to the Capital One Enterprise X.
Which Capital One playing cards do I most need?
For fairly a while, the Capital One SavorOne was the one Capital One card on my radar. Now that I’ve that card, and I’m truly fairly pleased with my Capital One card portfolio. Capital One’s card portfolio has been evolving at a speedy tempo, so I’m certain there’s one other Capital One card that may curiosity me in the end.
Capital One is a card issuer that has change into more and more well-liked within the factors world lately, because of the continually enhancing transferable factors foreign money. Because it stands, the Capital One Enterprise X is the private card that I spend essentially the most on, whereas the Capital One Spark Money Plus is the enterprise card that I spend essentially the most on. You’ll be able to’t beat Capital One providing 2x transferable factors per greenback spent with no international transaction charges.
I’m additionally excited to have the Capital One SavorOne, which gives incredible perks with Uber, and in addition gives some bonus classes that you just gained’t discover on different Capital One playing cards.
What’s your Capital One bank card technique?