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Capital One no fee card, is it a good deal?

Capital One no fee card, is it a good deal?

Old Jul 11, 03, 1:37 pm
  #1  
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Capital One no fee card, is it a good deal?

I just got another mailing from Capital one, at least they offer 1 mile for $1. The
AMEX card I have gives only 1/2 mi.per $1.
Capital One says "fly on any major US based airline" no blackout dates or seat restrictions. They don't say which airlines, is Delta included? It's the most used airline out of my city, I've been trying to accumulate AMEX-Delta skymiles but without the fee cards it's difficult to build up miles. Will Delta combine miles from both cards? I'm a real newbie and getting some good ideas from this board!
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Old Jul 11, 03, 1:43 pm
  #2  
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I partially answered my own question...Capital one requires 75,000 miles for US?Europe ticket, where Delta Skymiles is only 50,000 and you can buy miles to supplement. Guess I should just bite the bullet and get the $55 fee AMEX..
in order to build miles faster.
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Old Jul 11, 03, 2:03 pm
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I'd recommend paying the fee instead of keeping the 0.5 miles/$1 card, if you have any kind of charge volume, as you'd earn twice as many miles. Or perhaps getting my favorite, the Starwood Amex, for $30 (and free the first year).

If you don't charge a lot, CapitalOne may still not be a good choice, as it would take years to earn a ticket with CapitalOne. Keep in mind that the CapitalOne "miles" can't be combined with miles you earn from flying, or bonus miles, etc, making earning enough for a flight to Europe a much more difficult proposition.
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Old Jul 11, 03, 2:05 pm
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Welcome to Flyertalk, Floroz!

You may find these past discussion threads useful:
Regards,
Gary

------------------
View from the Wing: A blog about Free Miles and Free Markets
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Old Sep 4, 03, 10:03 pm
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I just received an offer from CapitalOne MilesOne Rewards, and would like to know if this is indeed an excellent offer for a mile chaser. I have enough credit cards right now so I don't want to jump into another one unless it's worth it. I'd appreciates comments from other CapitalOne cc holders too. Thanks.


0% intro APR on transferred balance until Feb. 2005; 8.9% fixed apr thereafter.

Receive up to 5,000 bonus miles on trnasferred balance.

There is no transfer fee and no annul fee.

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Old Sep 4, 03, 10:12 pm
  #6  
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<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by Floroz:
I just got another mailing from Capital one, at least they offer 1 mile for $1. The
AMEX card I have gives only 1/2 mi.per $1.
Capital One says "fly on any major US based airline" no blackout dates or seat restrictions. They don't say which airlines, is Delta included? It's the most used airline out of my city, I've been trying to accumulate AMEX-Delta skymiles but without the fee cards it's difficult to build up miles. Will Delta combine miles from both cards? I'm a real newbie and getting some good ideas from this board!
</font>
I definitely second gleff's idea: read that Universal Miles vs. Airline Miles thread.

For some people, home-grown credit-card miles are the perfect solution; for others they are not. All depends on your spending habits, travel patterns, and other avenues for earning airline miles and/or hotel points.

You'll see a lot of strong opinions on this board: most of us strongly favor airline mileage cards and are inherently suspicious of home-grown credit card miles. I'm in that camp right now, but will probably be taking a closer look at home-grown miles in 2004 or 05.
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Old Sep 4, 03, 11:36 pm
  #7  
 
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<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by ChaseTheMiles:
0% intro APR on transferred balance until Feb. 2005; 8.9% fixed apr thereafter.

Receive up to 5,000 bonus miles on trnasferred balance.

There is no transfer fee and no annul fee.
</font>
I would read the offer carefully - but if it is as it says, it can be a very good deal. If you use another credit card (that earns miles hopefully) to buy lots of savings bonds - you can then transfer that balance to the new card at 0% for a year and a half. Make sure you sign the card up for automatic payment of minimum each month. Even if the 5000 Cap One miles don't amount to anything, you will earn your own CC miles, and approximately 5% on your money over that time period.

And make sure you don't use the card while you are doing this, as purchases probably won't have a 0% interest rate.
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Old Sep 5, 03, 12:05 am
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At the present time you need to be making a decision as to what is more important to you, miles toward a free ticket the cost of which may be increasing or a fixed interest rate.
The adjusting interest rate cards have no where to go but up up and up just like mortgage rates have started back up.

If you normally run a balance watch out especially if it is a large balance.

Remember how high interest rates got with the large government deficits and especially after the first Gulf War.

Like has been repeated before read the fine print and compare before getting these cards.

Remember right now the best performing stocks seem to be financial stocks like banks. Of course Oil companies are doing OK as usual.
billhar is offline  

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