Capital One® Cash Rewards for Newcomers

From the CompareCards.com Editorial Team:

Capital One has a long corporate history of innovation when it comes to designed credit cards that give the cardholder special ways to earn rewards. The company also loves to utilize technology, and this time they created a card designed to help those new to the USA build up their credit history – a really unique idea. Online technology meanwhile ensures that there is automatic reporting to three major credit bureaus so that your credit gets established without delay.

But underlying this rare “newcomer” card is also a really attractive and customer-oriented cash rewards program that lets you earn 2% cash rewards on travel purchases and 1% on all other purchases. Your cash rewards don’t expire, there’s no limit to the amount of cash you can earn, and you can get your cash back anytime as an account credit or check, or via automatic redemption.

To top it all off there is no annual fee, there are no foreign transaction fees to plague those who are new to the USA and still have lots of overseas purchases, and there is a free online guide to learning about credit scores and histories in the USA.

The Bottom-Line
Capital One is a great card company with an unmatched record for innovation. Capital One loves to combine technology, rewards programs, and unique credit card concepts. This card is an example of that approach because it offers a good rewards program competitive with other cards, but tailors it specifically to the needs of people who are new to the USA. If you fall into that demographic then this may be the ideal credit card for you.

The Good
Capital One makes 1-2% cash back rewards easy and user-friendly by letting you access your cash back through a credit, an actual check, or an automatic redemption program. Meanwhile those new to the USA can build a credit history faster while enjoying freedom from having to pay foreign transaction fees.

The Not So Good
If you are not a newcomer to the USA then some of the features on this card are not for you, because it is designed especially for those trying to establish financial history as new residents in the USA.