Best Capital One Mastercard Credit Cards

Capital One issues Visa credit cards and Mastercard credit cards both. Unlike Capital One, which is a bank, Visa and Mastercard are card networks. That means Visa and Mastercard do not issue credit cards but instead help to process their transactions and provide some supplemental benefits.

The best Capital One Mastercard is the Capital One® Savor® Cash Rewards Credit Card. It offers a bonus of $300 for spending $3,000 in the first 3 months. And it gives 4% cash back on dining, entertainment and popular streaming services, 3% back at grocery stores and 1% back on all other purchases (except for 8% back on tickets from Vivid Seats and on Capital One Entertainment purchases). It has a $95 annual fee.

The best Capital One Visa is the Capital One Venture Rewards Credit Card. Its initial bonus is 75,000 miles for spending $4,000 in the first 3 months. This card also gives 5 miles per $1 spent on hotels and rental cars booked through Capital One Travel, and 2 miles per $1 on all other purchases. Its annual fee is $39.

Some Capital One Visa cards have changed from VISA to Mastercard in recent years, including the Capital One Quicksilver Cash Rewards Credit Card. This change only applies to new accountholders, though, and it is not a universal switch for all Capital One Visa cards.

It doesn't make much difference whether a Capital One credit card is a Visa or a Mastercard. Visa and Mastercard are the two most widely-accepted payment networks. They can be used at around 11 million merchants across the U.S. and in more than 200 countries and territories. Most places that accept one network will also take the other, with few exceptions.

Visa and Mastercard offer the same basic credit card benefits, too. They both guarantee zero liability for fraudulent charges, provide identity theft protection, and have 24/7 customer service.

Capital One does not offer a specific credit card that is part of the World Elite Mastercard program. The level of benefits that you will get from your Capital One credit card depends mostly on your creditworthiness and your budget and it will be established once your application has been approved. So, if you apply for a Capital One Mastercard credit card and have a good/excellent credit score, you might qualify for the World Elite program.

Here’s how you may get a Capital One World Elite Mastercard:

• By applying for a new Capital One Mastercard credit card: If you meet all the application requirements and you are eligible for the World Elite program, you will be notified once your application has been approved.
• By switching from a Standard Mastercard to the World Elite Mastercard: You may be able to upgrade your credit card network’s level of benefits if you make a request through Mastercard. You can do this by phone at (636) 722-7111.
• By upgrading to a new credit card that is on the Mastercard network. If you are eligible, you can upgrade your credit card with a World Elite Mastercard. You can do this online or by contacting Capital One customer service.

A good Capital One credit card option on the Mastercard network is Capital One Savor. Apart from the World Elite Mastercard benefits that might be included, with this card you get: 4% cash back on dining, entertainment and popular streaming services, 3% back at grocery stores and 1% back on all other purchases (except for 8% back on tickets from Vivid Seats and on Capital One Entertainment purchases). 

There are plenty of other options though, so if you’re not tied to Capital One as an issuer, feel free to check out other World Elite Mastercard credit cards that are available right now on the market.

The Capital One Savor is a Mastercard, not a Visa; it is a World Elite Mastercard, to be specific. That means it offers the Mastercard network’s highest level of benefits. Notable perks include up to $1 million in travel accident insurance and $1,500 per trip in trip cancellation insurance. The card’s extended warranty benefit also adds up to two extra years to an item’s original warranty and gives as much as $10,000 in coverage. Plus, there’s rental car insurance, roadside assistance, purchase protection and more.

Frequent travelers will enjoy the Capital One Savor’s wide global acceptance. And there’s $0 foreign transaction fees. That means you’ll be able to use this card abroad without having to pay a surcharge on everything you buy. Cards with foreign transaction fees typically charge an extra 1% to 3% on international purchases.

The Capital One Savor provides plenty of its own rewards and perks to complement Mastercard’s array of benefits. For example, because it’s designed for people who like to go out on the town, the Capital One Savor offers 4% cash back on dining, entertainment purchases and streaming services. It also gives 3% cash back at grocery stores.

You can do a Capital One Platinum balance transfer through your online account, or by calling the number on the back of your card. Keep in mind that your Capital One Platinum account may not always be eligible for balance transfers. You can always check for eligibility and any existing offers through your online account.

It is also worth noting that you cannot use balance transfers to pay off another credit card or loan issued by Capital One. And the total amount of your transfer, including any applicable fees, cannot exceed the amount for which you are eligible. This can be found within your balance transfer offer.

Here’s what you need to know about the Capital One Platinum balance transfer:

• Eligibility: Not all Capital One Platinum accounts are eligible for balance transfers. You can check online to see if you are eligible to transfer a balance to your Capital One Platinum card. Accounts must be open for at least 10 days before requesting a transfer.
• How to do it: Either log in to your online account or call the customer service number on the back of your credit card to speak with a representative.
• Balance transfer APR: If eligible, balance transfers can either accrue interest at the regular transfer APR of 26.99% (V) (based on the specifics of your credit), or other promotional offers will be made available to you through your online account.
• Balance transfer fee: $0 at this Transfer APR. For balances transferred at the card’s promotional transfer APR, the balance transfer fee will be 3% of the transferred amount.

Keep in mind that a balance transfer typically takes 3-14 days, depending on whether your request can be completed electronically or by mail. So, continue to make payments to your current creditor(s) until the balance transfer posts to your account.

If you’d rather not wait on a Capital One Platinum balance transfer offer, there are other issuers offering some of the best balance transfer credit cards, with long 0% introductory APR periods. It’s also worth using a balance transfer calculator to see how much a balance transfer could end up saving you.

The Capital One Mastercard annual fee is $0, in most cases.

Capital One has a few Mastercard credit cards offering $0 annual fee, like:

• Capital One Platinum Credit Card
• Capital One Platinum Secured Credit Card
• Capital One Quicksilver Cash Rewards Credit Card
• Cabela's Credit Card
• Union Plus Credit Card
• Saks Fifth Avenue Credit Card

There is one card, however, with a $39 annual fee, the Capital One QuicksilverOne Cash Rewards Credit Card. This one is only worth choosing if you plan on using your card regularly, otherwise I'd opt for one without an annual fee.

The credit limit for the Capital One Gold Mastercard will be determined by a few factors such as your credit score, income and overall creditworthiness.

Once your account is older than 3 months, you can request a credit limit increase online from your account or by calling 1-800-955-7070.

You have the best chances if you pay your bills in full and on time, and keep your credit utilization ratio low.

The best thing about Capital One and credit limit increases is that they will only result in a soft pull, thus won't affect your credit score.

The GM BuyPower rental car insurance policy provides coverage in case of collision and theft up to the cash value of most rental vehicles.

All you need to do is pay for your rental with your credit card and reject the optional collision damage waiver offered by the rental company.

You can check the full rental car insurance terms here.