If you’re loyal to Capital One or just ready to branch out with one of Capital One’s best credit cards, here are a few questions to ask yourself when choosing a card.
Do you want cash back or miles?
Capital One excels in cash back and travel credit cards. The question is: Where do you prefer to earn? If you don’t have many travel plans and just want to bring in cash for your spending, then stick with a cash back card. However, if you want to pay for upcoming trips with reward miles, then one of Capital One’s travel cards is your best option.
Are you willing to pay or offset an annual fee?
Some of Capital One’s best credit cards come with an annual fee. Make sure you can earn enough rewards or use the card's perks, if any, to offset the annual fee. If you don't tend to spend enough to offset the costs, a no-annual-fee card might serve you best. You won’t have to worry about a yearly charge and you can focus on earning rewards.
What’s your credit score?
Most of Capital One’s best credit cards require at least good credit. If your credit isn’t fair, good, very good or excellent, you might be able to get approved for a secured credit card or one of Capital One’s student credit cards.
- Good or excellent credit: These Capital One cards will offer competitive rewards rates and attractive perks or card benefits. Some may carry an annual fee, such as the Capital One Venture X Rewards credit card (See Rates & Fees), but you might be able to offset that cost with earnings or annual credits.
- Average or fair credit: Look for unsecured cards like the QuicksilverOne Rewards that can prove helpful in boosting scores past fair and into the good range.
- Fair or lower credit: One of Capital One’s credit-building cards like the Capital One Platinum Credit Card or one of its secured cards may best suit your needs.
- No or limited credit: A secured card like the Platinum Secured or Quicksilver Secured can help build credit over time. If you’re a student with no credit history, you can choose from one of Capital One's student cards instead.
You can also see if you are pre-approved for certain Capital One cards without harming your credit score. While not all cards offer pre-approval, you can check for pre-approval for many popular Capital One cards like the VentureOne Rewards and the QuickSilver Rewards. You can also use Bankrate's CardMatch™ tool to see if you match with a Capital One card.
Are you looking for an intro APR offer or sign-up bonus?
Capital One cards often come with welcome and intro APR offers that increase the card's first-year value. Welcome offers typically have a spend requirement that you must reach within a fixed timeframe, so you should choose a Capital One card with an offer you can attain without overspending. So if you don't usually spend $2,000 in three months then you might consider a card with a lower spending requirement or longer timeframe.
Additionally, many Capital One cards come with competitive intro APR offers. A Capital One card that carries a zero percent intro APR offer on new purchases and balance transfers can help you save on interest temporarily. People consolidating credit card debt or managing a large purchase might look for a card with a lengthy intro APR period, such as the Capital One VentureOne Rewards Credit Card.
Will you take advantage of the card's perks?
You can enjoy a lot of attractive benefits as a Capital One cardholder depending on the card, like lounge access, card protection services and statement credits. Several of Capital One's cash back cards currently offer limited-time promotions with Uber and Uber Eats. Typically, Capital One cards with higher annual fees will carry more lucrative perks.
However, you should figure out if the cost of carrying the card justifies the added perks and if you will actually use them. For instance, while lounge access is an appealing benefit, you might not be able to take full advantage if you travel infrequently. Look for a card with practical perks that would best suit your needs.
Still unsure if a Capital One credit card is right for you? Check out our Credit Card Spender Type Tool where you can get personalized credit card recommendations based on your credit score, spending habits and daily needs.