Capital One Cash offers cash back and a 50-percent anniversary reward bonus
August 31, 2011
By: Joe Taylor Jr.
Capital One offers customers the chance to earn 50 percent more cash back than the typical rewards credit card with the launch of "Capital One® Cash Rewards - $100 Cash Back Bonus." In a statement to reporters, Capital One spokesman Mike Wassmer compared the innovation of the company's new cash back card to the successful launch of its Venture line of travel rewards credit cards. In both cases, the credit card issuer leveraged its secure website to make rewards easier to track and redeem. Rewards do not expire, and the new card carries no annual fee.
Features of the Capital One Cash Rewards - $100 Cash Back Bonus card include: Cardholders can earn 1 percent cash back on every purchase. New cardholders can receive a one time bonus of $100 after spending $500 on purchases in the first three months. In addition this card offers an "anniversary bonus," offering cardholders a 50-percent premium on the previous year's cash back rewards added to their account after 12 statement cycles. And with the Visa Signature version of this card cardholders can take advantage of special access to experience-based benefits, including special travel offers and access to exclusive entertainment, sporting and lifestyle events.
Capital One Cash joins an increasingly crowded field of premium credit cards for excellent credit. American Express and Chase credit cards both rolled out enhanced rewards cards over the past few months, competing for consumers with high credit scores. According to researchers at Mintel Comperemedia, consumers respond favorably to cash back offers. Credit card issuers included cash rewards as a signup bonus or a special feature in nearly a quarter of all new account solicitations reviewed during Mintel's spring 2011 study. Capital One's latest offering includes both, though the anniversary bonus encourages customers to maintain brand loyalty over time instead of switching to a competitor's card.
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