2 Capital One cashback cards: Business 2%, Personal 1.5% [Card names change]
 

http://www.capitalone.com/smallbusin...-cash-premier/

Stumbled on this last night;

2% cash on anything, no FX, $59 fee (free first year).

Beats Venture, beats Plum, beats anything I've seen. Am I missing anything?

I'm concerned because I haven't heard anything about it anywhere online - people are always pushing the Venture or Plum or something? Want to take the plunge but worried I'm missing something?

You haven't heard of it because it is a very new product. If you search for references to this card all of the articles are dated 18 August 2011 or later, and that is date of Capital One's press release:

http://phx.corporate-ir.net/phoenix....cle&id=1597863




.

Sounds like a good card to me. Thanks for posting.
My only concern is will they give this card to individuals with sole proprietorships?

New Capital One 1.5% cash back Master Card
 

1% cash back plus yearly 50% cash back bonus
www.capitalonecash.com

Moderator action
 

Combined discussion of two new Capital One cash back rewards cards.

Just to warn you, the last time I applied for a Capital One credit card for the Venture Card 100k match, I got hit on 3 credit bureaus. All other credit cards I have ever applied only hit me on one credit bureau. I don't know what other people's experience with Capital One, but your changes of opening other cards will be likely diminished if your experience is like mine.

This card looks similar to Fidelity Visa Signature, which gives 1.5% cashback. The Capital One card has no foreign transaction fees while the Fidelity card increases cashback to 2% after 15,000 spend.

The Capital One card may be a better choice for those who mostly use high-reward AMEX cards and need a backup when AMEX is not accepted and also travel internationally.

Since the Schwab Visa 2% cash back is apparently history, then I totally agree with your take on this. ^

Moderator action
 

Discussion of the risks associated with using a Business card (such as Business No Hassle Cash Premier) has been extracted to a separate thread:

http://www.flyertalk.com/forum/credi...nal-cards.html

As an effective 1.5% card, this thing blows Venture and VentureOne out of the water. To make the Venture annual fee worth it, one would have to spend over $11800 per year on the card to match the cash back of the new Cash card.

With no foreign transaction fees, the Cash might just push my VentureOne right out of my wallet for overseas purchases. Anyone know if CapOne will convert products (I have done this with Chase numerous times), or do they typically require reapplying?

I have the Venture card and called to see if they would convert it to the new Cash card-- unfortunately I was told that they could not do a conversion and that I'd have to apply for the new card.

Applied for the no hassles card; they told me to F off - probably because I applied for 13 other cards that day ;)

But my wife got it and I'm an AU. Game the system!

I believe this is their normal practice.

I agree. I'm applying for it but am a bit leary that they may later decide to get rid of the extra 50% annual cash back at some point. That would make it just a 1% cash back card, which is just 'standard' these days.

This will definitely be my go-to card for 'everything else' transactions where AMEX is not accepted and while I travel abroad so long as they keep it 1.5% cash back.

1.5% cash back is hard to beat unless you want to go the Fidelity route, which requires you to open up a Fidelity retirement money market, etc.

My other cards:

My default card is the AMEX Blue Cash (old program) gives 5% CB on Grocery, Drugstore and gas after $6,500. in spending and 1.25% on everything else. I like this card for the great customer service and the 1.25% CB. Another alternative is the new Blue Cash Everyday card which is also good but only 1% CB on everything else (3% on grocery, gas and department stores).

For gas I use the PenFed Visa 5% CB until I reach the $6,500. in the above card, then I switch to that one for gas.

Airline flights - PenFed Amex 5x points towards airline travel along with 20,000 points initially after signup, also no foreign transaction fees on this card.

Amazon.com purchases - Chase Amazon card - 3% CB.

The best part? None of these cards have any annual fee!

The $6,500 threshold is effectively a hidden annual fee. because you are earning a reduced rebate on that spending.