Capital One Vs American Express
Capital One and American Express both function as credit card companies offering additional services. American Express credit cards are known for their premium benefits and partnerships with global companies. Capital One credit cards are increasingly competitive, especially with the addition of the Venture X.
Additional services from American Express and Capital One include savings accounts, but Capital One also offers loans. In addition, although both issue credit cards, American Express is also a payments network. The American Express network isnt as widely accepted around the world as Visa or Mastercard, so Capital One cards will work in more countries.
Based on the number of employees, American Express is sized very similarly to Capital One. In 2019, American Express had 64,500 employees whereas Capital One had about 52,000. American Express had $43.6 billion total net revenue in 2019, and Capital Ones was about $28 billion.
Which Capital One Credit Cards Earn Rewards
These Capital One credit cards earn rewards in the form of cash back, points, or miles:
- Capital One Quicksilver Cash Rewards Credit Card
- Capital One QuicksilverOne Cash Rewards Credit Card
- Capital One® Savor® Cash Rewards Credit Card
- Capital One SavorOne Cash Rewards Credit Card
- Journey Student Rewards from Capital One
- Capital One Quicksilver Student Cash Rewards Credit Card
- Capital One Venture X Rewards Credit Card
- Capital One Venture Rewards Credit Card
- Capital One VentureOne Rewards Credit Card
- Capital One Walmart Rewards® Card
- Cabelas Club Mastercard®
- Bass Pro Shops Club Mastercard®
E Truth In Lending Actsubstance
As the Court described above, the Truth in Lending Act and its implementing Regulation Z govern certain disclosures with respect to credit card annual percentage rates . Regulation Z designates certain disclosures that must be made to consumers on credit card solicitations. Issuers must disclose in a tabular form the annual percentage rate applicable to extensions of credit under such credit plan and fees. Other requirements on the disclosure of interest rates are listed in the staff commentary to Regulation Z and require that: if the rate is temporary, the solicitation must disclose the rate that will apply after the temporary rate expires, 12 C.F.R. pt. 226, Supp. I, § 226.5a and any specific events that trigger a rate increase without any further notice, such as default rate increase, must be disclosed, 12 C.F.R. pt. 226, Supp. I, § 226.5a.
See15 U.S.C. § 1637 and 12 C.F.R § 226.5a. The Act recognizes two types of consumer credit transactions: open-end credit and closed-end credit. See generally Benion v. Bank One, Dayton N.A.,144 F.3d 1056, 1057 . The credit cards at issue in this litigation are open-end credit.
.15 U.S.C. § 1632 and 12 C.F.R. § 226.5 .
.12 C.F.R. pt. 226 supp. I, ¶ 5a cmt. 1.
However, the Truth in Lending Act is a disclosure statute and does not substantively regulate consumer credit but rather requires disclosure of certain terms and conditions of credit before consummation of a consumer credit transaction.
Id. at 580.
Id. at 581.
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Wells Fargo Active Cash Card: Best For Flat
- What we love about the Wells Fargo Active Cash Card: Very few zero-interest cards earn unlimited cash rewards on purchases at this rate, making the Active Cash unique in this sense.
- Who this card is good for: People who want a card that earns unlimited cash rewards at an outstanding rate.
- Alternatives: This card charges a 3 percent foreign transaction fee, which can chip away at its overall value and usefulness for frequent travelers. If you travel a lot and dont mind a slightly lower rewards rate, the Capital One Quicksilver Cash Rewards card will probably be better in the long term.
Read our full Wells Fargo Active Cash Card review or jump back to offer details.
Chase Freedom Unlimited: Best Overall Rewards
- What we love about the Chase Freedom Unlimited: Benefits that come along with this card include a first-year 1.5 percent reward rate boost to all cash back and trip cancellation/interruption insurance on top of 15 months introductory APR on balance transfer and purchases .
- Who this card is good for: Fans of Chase cards who also potentially hold a premium Ultimate Rewards card to combine and boost rewards.
- Alternatives: One of the Bankrates highest-rated cards, the Chase Freedom Unlimited is a rewards card that covers a range of cash back categories from restaurant purchases to travel to drug store purchases. However, the low rates on travel outside the Chase Unlimited Rewards portal hinder the cash back opportunities. The Citi Custom Cash Card could be better for you as it automatically rewards 5 percent to your highest eligible spending category each billing cycle .
Read our full Chase Freedom Unlimited review or jump back to offer details.
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Best For Bad Credit Or No Credit: Capital One Platinum Secured
|Allows upgrade to unsecured card||Yes|
|This card does not offer a rewards program.|
- Why We Chose This Card
We chose the Capital One Platinum Secured as the best Capital One option for those with bad or no credit. Customers receive an instant credit line of at least $200, with the option for a higher line of credit when they deposit more. The required security deposit for the $200 credit line can be as low as $49, which is helpful for people on a tight budget. In as few as six months, accounts are automatically reviewed for a credit line increase. Although it does not earn rewards, there is no annual fee or foreign transaction fees, which makes it an easy card to keep and build credit over time with responsible use.
Can raise credit limit by putting more into security deposit
No annual or foreign transaction fees
Relatively low initial credit limits
No bonus offers or rewards program
Read the full Capital One Platinum Secured credit card review.
Best For Dining: Capital One Savorone Cash Rewards
Earn $200 cash bonus once you spend $500 on purchases within 3 months from account opening.
|Rewards Earning Rate||Earn 3% cash back on dining, entertainment, popular streaming services and at grocery stores, plus 1% on all other purchases. Plus, earn 8% cash back on tickets at Vivid Seats through January 2023.|
|INTRO PURCHASE APR||0% for 15 Months|
|Balance Transfer Fee||3% of the amount of each transferred balance that posts to your account at a promotional APR that we may offer you. None for balances transferred at the Transfer APR.|
|Foreign transaction fee|
- Why We Chose This Card
We chose the Capital One SavorOne Cash Rewards Credit Card as the best dining card from Capital One because of its 3% cashback earnings at restaurants as well as entertainment, streaming, and grocery stores coupled with its no annual fee. While the Capital One Savor has a slightly higher earning rate on dining, we like the fact this card has most of the benefits without the yearly cover charge. Like all Capital One cards, SavorOne charges no foreign transaction fees, which can make it an ideal card for dining on vacations as well.
Generous cash rewards on dining, entertainment, streaming, and groceries
Doesnt impose some frequent fees
Access to premium experiences
Read the full Capital One SavorOne Cash Rewards credit card review.
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Best For Balance Transfer: Citi Diamond Preferred Card
- Best features: If paying off debt is your top priority and you have good or excellent credit, the Citi Diamond Preferred Card could be a lifesaver. The card comes with an extremely long 21-month introductory APR offer on balance transfers completed within the first 4 months, after which your APR is a relatively low 15.99% to 26.74% . Want to learn more? See how expert, Emily Sherman, uses the Citi Diamond Preferred card. Also, for a limited time earn a $150 statement credit after you spend $500 on purchases in the first three months of account opening.
- Biggest drawbacks: The lack of a base rewards program limits this cards long-term value. Plus, the balance transfer fee will cost consumers more than the standard 3% fee found with other cards.
- Alternative: If you think you can pay off your balance transfer faster than 21 months, the versatile Citi® Double Cash Card may be a better choice. Its intro APR offer isnt as long, but it has better value thanks to a rewards program that earns up to 2% cash back on purchases .
- Bottom line: The Citi® Diamond Preferred® Card is best for someone focused on paying off debt and who isnt looking for a rewards credit card that offers points or miles.
Read our full Citi Diamond Preferred Card review or jump back to this cards offer details.
What Is Capital One
Capital One is an FDIC-insured bank thats known for its high-quality , checking and savings accounts, auto loans, and other financial services. The company was originally founded as a spinoff credit card business of Signet Banking Corporation in 1994. That same year, Signet named their new company Capital One Financial Corporation, and hired Richard Fairbank as CEO.
As a relatively new company in the banking industry, some may have bet against Capital One to make a name for itself in such a competitive market. Other companies, such as Chase and Citibank, can trace their origins back for hundreds of years, but Capital One didnt have that luxury. Still, it has persevered and is now regarded as one of the premier financial institutions in the world.
In 2019, Capital One had about 52,000 employees and total net revenue of about $28 billion. You can access Capital One services from an internet web browser or straight from the mobile phone app, and the company has hundreds of branch locations and thousands of ATM locations across the country.
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Best Business Card For Cash Back: Capital One Spark Cash Plus
The new Capital One Spark Cash Plus is a straightforward card that earns you a solid 2% cash-back return on all your other business spending.
Because it’s a charge card, there’s no preset spending limit, and you’ll need to pay your balance off in full each month. Big spenders also get a boost: Every year you spend $200,000 or more on your card, you’ll receive a $200 bonus.
Top Cards For No Interest Fees On Balance Transfers
When youre carrying expensive credit card debt, a good balance transfer offer can easily save you hundreds of dollars in interest fees. And thats even after you include the 3% to 5% balance transfer fee charged by most credit cards.
The main downside to a balance transfer interest rate offer is that most will require you to make your transfers within a few months of opening your account, so be sure youre ready to transfer your debts when you apply for your new card.
|Excellent, Good Credit|
Additional Disclosure: Citi is a CardRates advertiser.
This cards introductory 0% APR period takes the cake in terms of length, but its balance transfer fee is a bit higher than that of other card issuers. Either way, this card charges no late fees or penalty APRs and has a fairly low ongoing APR after the promotional one ends.
Honorable Mentions: If youre really concerned about paying a balance transfer fee, credit unions can be a good place to find cards without balance transfer fees. The Citi® Diamond Preferred® Card and the U.S. Bank Visa® Platinum Card charge transfer fees, but they offer really long promotional periods.
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Capital One Has Plenty Of Credit
Naturally, if you have impaired or bad credit, youll only be able to apply for the cards that are available in those categories. And Capital One offers three cards that provide you with the ability to improve your credit, so that youll be able to go on to apply for more generous cards later.
For example, they report to all three major credit bureaus, allow you to increase your credit limit after making the first six payments on time, and may not require an annual fee.
Why The Capital One Platinum Secured Credit Card Is Good For Bad Credit
The Capital One Platinum Secured Credit Card helps you to improve your credit scores by reporting your payment history to all three major credit bureaus. As you make your payments on time, your credit scores will rise. Eventually, youll be able to apply for unsecured cards with more generous benefits. In the meantime, the card wont say secured, and theres no annual fee to pay.
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Best Student Capital One Card
Who’s this for? If you want to learn how to use credit responsibly while in college, the Journey Student Rewards from Capital One can help teach you good habits without charging an annual fee. This card encourages you to pay on time with the benefit of earning extra cash back.
Cardholders earn 1% cash back on all purchases, which increases to 1.25% for every billing cycle that you make at least your minimum payment on time. While paying the minimumkeeps your account current and prevents late fees, we encourage you to pay in full to avoid interest charges from this card’s steep 28.49% variable APR. By using this card during college to make purchases and bill payments, you can achieve a good credit score upon graduation.
Take note that this college student credit card doesn’t require you to be a student to qualify, but you will need to show that you meet income requirements by providing your employment status and total annual income during the application process.
Beyond rewards and the ability to build credit, you can use this card abroad with no foreign transaction fees and benefit from auto rental collision damage waiver and more.
Best For Fair Credit: Capital One Quicksilverone Cash Rewards Credit Card
|1.5% cash back on every purchase, every day.|
|Balance Transfer Fee||3% of the amount of each transferred balance that posts to your account at a promotional APR that we may offer you.|
|Foreign transaction fee|
- Why We Chose This Card
The Capital One QuicksilverOne Cash Rewards Credit Card is our pick for the best Capital One card option for those with fair credit. It offers the same 1.5% flat rate cashback as the Quicksilver, but is designed for those with less than good credit. It does, however, lack the 5% on Capital One travel. QuicksilverOne comes with a $39 annual fee, which can be easily justified with consistent use. Cashback rewards are a relatively unusual feature for a card in the fair credit segment and combined with low fees, it makes this card a solid choice for those in the middle of the credit band.
Higher rewards rate than similar cards
Fair credit accepted
Read the full Capital One QuicksilverOne Cash Rewards credit card review.
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Kansas Consumer Protection Act
The Kansas Consumer Protection Act states that o supplier shall engage in any deceptive act or practice in connection with a consumer transaction. The Plaintiff Kautz states that the Defendant violated this Act because it proffered solicitations which knowingly represented characteristics of the credit card that the card did not have. She also argues that the Defendant failed to provide adequate notice of the increase in interest rates.
Kautz was not able to identify any specific solicitation to which she responded and therefore she has no basis for making a claim regarding fixed or low rates. Kautz also testified that she understood the Defendant could raise the interest rates on her credit card but that it would not be right for Capital One to raise her interest rates so long as she was in good standing under the credit card. So long as Kautz was not deceived by the terms low and fixed, she cannot bring a claim under the Kansas Consumer Protection Act.
See Kautz Depo., at 25.
Groundbreaking Credit Card Rates Are No Longer Just Short Term
New Credit Card Offers 4.99% Fixed – The Lowest Long-Term Fixed Interest Rate in the Nation for Purchases and Balance Transfers
MCLEAN, Va., Jul 9, 2003 /PRNewswire-FirstCall via COMTEX/ — As interest rates hithistoric lows this summer, many consumers are securing record-low interestrates on mortgages, student loans, and new car loans. Leading the credit cardindustry in responding to increased consumer demand for lower long-term fixedinterest rates, Capital One today introduced a credit card with afixed interest rate of 4.99% — the lowest long-term fixed rate in the nation.
The 4.99% fixed interest rate offers customers with excellent credithistories an opportunity to save money and increase their purchasing powerusing the best priced credit card available. The card joins a long list ofcompetitive product offerings from Capital One that include a range of rewardsand low pricing features designed to meet the needs of individual consumers.
Consumers who qualify for Capital One’s new Platinum MasterCard willsave with a 4.99% fixed APR that applies to new purchases and balancetransfers of various loan types, including personal, home equity, automotive,retail/department store, and other credit cards. Unlike many competitors,this is not an introductory rate. The card also offers savings andconvenience with:
Solicited consumers can apply for the card online by visitingwww.getmycard.com.
About Capital One
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Citi Diamond Preferred Card: Best For Excellent Credit
- What we love about the Citi Diamond Preferred Card: The 0 percent introductory APR on balance transfers completed within the first four months of account opening for 21 months is one of the longest currently on the market.
- Who this card is good for: Anyone who values function over flash. This cards main selling point is the length of the introductory offers.
- Alternatives: This card doesnt have a rewards program, but it can help you temporarily avoid credit card interest with the intro APR offers. However, if you want to avoid interest for both intro purchases and balance transfers for a lengthy period, the U.S. Bank Visa Platinum Card could be worth looking into.
Read our full Citi Diamond Preferred Card review jump back to offer details.