Does Anyone Have the Capital One Card That Gives You 2 Points for Every Dollar?

Updated on March 18, 2012
P.R. asks from Akron, OH
5 answers

I'm looking at new credit cards bc I'm not sure my rewards are the best right now. I've come across the Capital One card that offers 2 points for every dollar spent. Does anyone have this? Wondering if there's a catch. I don't carry a balance so not concerned about the interest rate. Or any other card that seems to have above average rewards? Thanks!

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M.K.

answers from Columbus on

I have a Chase (BP) Visa and I love it! I can use it anywhere and the points (for cash) accumulate rather quickly and then I can select to receive a check or gift card. I love the gift cards because my kids and I use them at the BP stations to get a treat on Fridays. I guess the only drawback to the cards is I have to use it at the BP stations but I can use it for gas or in the store.

It's basically free money since I never carry a balance, they're definitely losing money on me!!

Good luck!!

1 mom found this helpful
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D.P.

answers from Seattle on

We have the Capital One card that rewards two points for all gas and grocery purchases. There's no catch, and we're really happy w/ it. There were several options for "earn two points for every dollar" when we opened the card - another one was "two points for restaurant purchases", but we felt we didn't need the encouragement to eat out more frequently!

In the last five years, we've earned 4 or 5 airline tickets (handy when both sets of grandparents live out of state).

I was glad to see that Capital One considers all purchases from Fred Meyer to be "groceries" - so I'm still getting 2 points for cleaning products, gardening supplies, tampons, socks, you name it.

1 mom found this helpful

T.F.

answers from Dallas on

We have our company credit card through Chase. We got it last May when we opened a business account with them. Since last May, we use this card exclusively an dwe have received over $1000 cash back. A check is actually mailed to us when we hit a certain number of points.

Granted, we run ALL company expenses through this card as well as personal. I have no clue what the interest rate is because it is paid in full well before any statement is printed. I am online daily keeping track of expenses because we have a lot of airfare, hotels, rental cars, entertainment, etc.

We dropped the airline cards because of all the restrictions on actually getting a plane ticket.

I prefer to get cash back anyway.

ETA: Purple Mom... way to go.. Chase loses a boatload on me too because we never carry a balance. Things may change soon if too many people are like us!!

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M.B.

answers from Lafayette on

I am a Financial Coach, and I know of lots of people that hate Capital One & wish they had never gotten the card. I would recommend staying away from them. Just use cash for your purchases -- you save more than you get in rewards dollars. Or, you can use a debit card -- some of those offer rewards, as well.

B.C.

answers from Norfolk on

I looked at the Capital One card, and the Amazon card, too.
All the point schemes were too confusing for me.
I ended up with a cash back card from my credit union and I'm very happy with it.

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