Capital One® Cash Rewards for Newcomers Reviews: Is It Worth It? (2023)Reviews, rates, fees, and rewards details for The Capital One® Cash Rewards for Newcomers. Compare to other cards and apply online in secondsJohn KiernanWalletHubNo membership feesHigh rewards rateBonus categoriesNo foreign feeNo rewards bonusNo intro APR on purchasesNo intro APR on balance transfers
This card has been scored using WalletHub’s proprietary credit card rating system. We evaluated this card for various cardholder needs and picked the rating for the need with the highest score, which is "Improve Credit by Paying in Full Each Month." A score of 10 is the best a card can receive, and the rating for the card may vary on different pages where it is compared to other cards for different needs.
We're sorry, but the Capital One® Cash Rewards for Newcomers may no longer be available to new applicants or we may no longer be able to obtain complete information related to this offer. For customer service call: 800-227-4825, Ext.
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1,291 reviews
1,291 reviews
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Chelsea Marie @chels8215
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5 Star Rating
The Capital One Cash Rewards Card for newcomers is a great card for someone with limited or no credit history and the fact that it has no annual fee is great. Although the APR of 24.99 is pretty high that's to be expected of a card that extends credit to riskier applicants. They offer a rewards program as well which is not very reflective of other cards for newcomers. In comparison to The Chase Freedom card i would consider this a stepping stone. The Chase Freedom Card offers a lower APR and better rewards but to someone with more established credit. I would recommend this card to family and friends.
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jason buonomo @chicago17
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3 Star Rating
The Capital One Cash Rewards for Newcomers card is an OK card for those with little or no credit. The 24.99 APR might scare off those with average to fair credit, but it does come with a 1% cash back program to help offset that high interest rate, especially if you don’t carry a high monthly balance. This is the niche that the card has in the market, as most people with little to no credit will not qualify for a card with a decent cash back rewards program. The 2% travel cash back is ok, but most people with poor to no credit aren’t doing much travel to make this a deal-maker. The bottom-line is that this is a good first card for college students and those with low credit as long as you don’t carry a high balance.
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Sandra Dragon @sandra_dragon_94
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3 Star Rating
The Capital One Cash Rewards for Newcomers has some pros and cons. With an interest rate of almost 25%, it would not be a good option for those with a high credit score who can qualify for low interest cards. This Capital One card appears to be marketed at consumers with only fair credit ratings and a limited credit history. So it might be a viable option for younger consumers who have no credit history. On the pro side, the card does offer cash back rewards and no balance transfer fee.
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Ashley Fraiser @ashley_fraiser
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3 Star Rating
I think the Capital One Cash Rewards for Newcomers is great for someone who has no credit to build their credit while earning rewards. Especially for someone who is a frequent traveler since they'd earn 2% on purchases that are travel related. Otherwise, it wouldn't be worth much as far as rewards. It's also great that the card has no annual fees.
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Connie Carlile @connie_carlile
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4 Star Rating
I am a huge fan of the Capital One Cash Rewards card. While the interest rate is a little high compared to bank cards like Bank of America credit cards, it’s offset by the rewards. You can put all of your bills, groceries, and every other purchase on the card to earn cash back, and then pay it off each month. It’s also a great card for people who are rebuilding their credit like I am since they don’t have high credit standards. Capital One also gives checks which are convenient when you want to transfer a balance. I also like the many options for cashing out your rewards which you can do online.
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Braden Blaettler @braden_blaettler
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4 Star Rating
It bums me out that this card is not offered anymore. It was one of my first credit cards, and now that my brothers are becoming of age to where they are starting to look for there first credit card, I wish I could refer them to this one! There is no annual fee, and it is not one of those secured cards where you have to put a deposit. The Capital One Cash Rewards for Newcomers really was a great card for those looking to establish credit. The rewards are kind of lackluster, and much better rewards can be found on cards, albeit cards that require a much higher credit score.
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Villanova Rambonicus @villanova.rambo
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3 Star Rating
The Capital One Cash Rewards for Newcomers card is just average. It's ok to get if you can't get access to one of the better ones. It has no annual fee and offers the standard 1% cash back reward. The 2% cash back on travel purchases isn't very appealing unless you happen to travel a lot. It actually feels like the card is designed to take advantage of people with the high 24.9% rate. The card that I prefer instead is the Chase Freedom card. It also has no annual fee and 1% cash back, but it has some better features. The bonus cash back is 5% in rotating categories like groceries or petrol. It's much better for most people than the 2% for travel. The Chase Freedom rate is 0% for 15 months and then varies between 13.99% and 22.99% depending on your credit. One other bonus that Chase Freedom offers is an extra US$100 cash back as long as you buy US$500 worth of stuff with the card within the first 3 months. Overall, there's really no reason to get this card if you can get a better one like Chase Freedom.
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John Lowlie @john.lowlie
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4 Star Rating
The Capital One Cash Rewards for Newcomers is a great card for some people. If you're like me and made some mistakes in the past this is a great card for rebuilding your credit. It has a high interest rate at 25 percent put that is the cost of getting a card when you have bad credit. I had another card from Bank of America that was specifically for people with bad credit and it had an interest rate of 28 percent and a yearly fee. Compared to that the the Capital One card is a great card. The Capital One also has a great rewards program which is unique for a rebuilding card. It's really nice getting 1 percent back on all your purchases and the savings start adding up quickly.
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Richard Thompson @richard.thompson.1000
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4 Star Rating
Offering a fairly standard 2% back on travel purchases and 1% back on all else, the place where the Capital One Cash Rewards for Newcomers Card shines is in its availability to people without much of a credit history. While helpful for building credit for those that really need it, the prohibitively high APR makes it a costly card to maintain any sort of balance on, though this is somewhat expected for a beginner's credit card. The lack of an annual fee makes it somewhat more attractive, and it's rare to find a rewards card available to new credit holders. On the whole it's a decent card.
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Jacoby Greene @jacoby.greene.39
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3 Star Rating
One of the worst things about the Capital One Cash Rewards Cards for Newcomers is its interest rate. At 24.9%, this card is definitely not the one you would want to carry any sort of balance on. The penalty APR on this cards makes things even worst at nearly 30%. This card does have a great rewards program that doesn't put any sort of annual limit on the amount of rewards point that you earn. The travel purchase rewards on this card are some of the best in the industry, giving you 2% cash back on any travel purchases. Overall, if you can avoid carrying a balance, the Capital One Newcomers card is a great start to begin building credit.
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Review Capital One® Cash Rewards for Newcomers Reviews
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