"Not As Good As Their 2% No Hassle Rewards Card"
Capital One® Cash Rewards Review
Written by: roughdraft on 2012-03-29
Overall Satisfaction
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roughdraft's review: 
I've had my No Hassle Rewards Card for about a year now. Six months ago, when I stopped by the bank, a banker explained to me that I could change my rewards program to receive miles, as I had a rewards checking account that earned miles as well. They converted me from the 2% cash rewards (2% on gas and groceries and 1% on everything else) to 3 miles on gas and groceries and 2 miles on everything else. I did the math and realized that I was earning 25% more using the cash option, considering I only use it for gas.
That is the case with this card. If you earn 1% on all purchases, and then receive a 50% cash back bonus, you earn 1.5% on your purchases. If you were only buying gas and groceries with the 2% No Hassle Rewards card, you would have earned 25% more rewards, or $100 when you would only have made $75 with the cash rewards card.
I tried calling their rewards program to change my card back to 2% but they said that I couldn't until I've had it the same rewards program for at least 6 months, and that then they would see if I was eligible for 'an upgrade'. Meaning, I had downgraded my card.
I've had my No Hassle Rewards Card for about a year now. Six months ago, when I stopped by the bank, a banker explained to me that I could change my rewards program to receive miles, as I had a rewards checking account that earned miles as well. They converted me from the 2% cash rewards (2% on gas and groceries and 1% on everything else) to 3 miles on gas and groceries and 2 miles on everything else. I did the math and realized that I was earning 25% more using the cash option, considering I only use it for gas. That is the case with this card. If you earn 1% on all purchases, and then receive a 50% cash back bonus, you earn 1.5% on your purchases. If you were only buying gas and groceries with the 2% No Hassle Rewards card, you would have earned 25% more rewards, or $100 when you would only have made $75 with the cash rewards card.
I tried calling their rewards program to change my card back to 2% but they said that I couldn't until I've had it the same rewards program for at least 6 months, and that then they would see if I was eligible for 'an upgrade'. Meaning, I had downgraded my card.
1 Comment
Comment 1 by wanderer
Re: Not As Good As Their 2% No Hassle Rewards Card 
on 2012-03-29
Very interesting. Appreciate the insight on card programs. Frankly, I did not know you could even work with Capital One.
on 2012-03-29 Very interesting. Appreciate the insight on card programs. Frankly, I did not know you could even work with Capital One.
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Disclaimer: This content is not provided by Capital One. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Capital One. Review content is powered by Finance Globe.
