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RSSCapital One No Hassle Rewards Card - How are the rewards?
As part of my preparations for the overseas assignment, I just signed up for a Capital One No Hassles Reward Card.
I decided I was going to use a Capital One card as my new primary card while away since it doesn't charge a foreign currency fee unlike most other cards. Discover card is the only other card I know of that doesn't charge a fee, but it is accepted at few if any places in China.
I already have a Capital One card from a previous 0% balance transfer, but it doesn't have a rewards program. I called Capital One to see if they could change the account to enroll in their rewards program so I would not have a "new" credit card on my credit score, but they said I had to actually apply for a new card. I figured I might as well take as much advantage as possible of the company $ being spent on my assignment.
How is the rewards program?
This seems pretty stright forward. I earn a 1% cash back with a 25% bonus each November. The money builds up in a balance I can easily check online in my credit card account. To redeem I just need to register at https://nohasslerewards.capitalone.com and you get options to redeem with a check, credit to statement, or gift cards. There is no mimum to redeeming (except with gift cards). Appears no hassle to me!
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Comments (5)
Actually, my Wells Fargo credit card does not have a service charge either. Also, I believe you should try to avoid using your credit card overseas because you are giving up more than 1% in exchange rates by using credit cards instead of getting cash exchanges at those currency exchange places.
Posted by MoneyNing | July 2, 2007 1:45 AM
Hi 2 Million,
Where are you going overseas? Are you going to be paid in US dollars?
I hope you're posting wont get in the way of your maintaining this most excellent blog.
Best,
James
Posted by James | July 4, 2007 8:42 PM
Actually Discover is widely accepted in China, they have an alliance with the local union pay network. Shops often aren't aware of this though, so you have to inform them.
Posted by cnxpt | July 10, 2007 11:13 PM
Stay away from Capital One credit cards. Their reporting practices to the credit agencies will make it difficult for you to get credit in the furture. Thus... you'll be stuck using them! They don't report your limit so it will make you look over exstended. They were in a California lawsuit over the issue but I didn't keep up with the outcome. In short... shady unethical pratices! Stay Away!!!
Posted by Jane Nicolson | October 7, 2008 8:22 AM
Interesting - heading overseas myself. Going to use my etrade card. 1% foreign currency exchange fee. Will also see if I can get a good exchange rate on USD while I am over there. The fx fees on most credit cards make it too high to use. For example, my Chase Freedom Credit Card charges me 3%. Also, you might like this article: http://www.onemillionbucks.net/2008/09/cash-credit-card-vs-pointsrewards.html
Posted by Patrick Bateman | November 17, 2008 12:16 AM