Verdict: The Capital One No Hassle Miles Rewards Card rewards individuals with a good credit history by letting them earn points at a rate 25% faster than 1 mile per dollar cards. This is a very good travel card for anyone who is serious about bulking up on travel miles with no limit to the miles you can earn, no expiration and no restrictions. You have the freedom to use your card when, where and how you want. This includes redeeming your miles how you choose.
Overview
Fly free faster with the Capital One No Hassle Miles Rewards Card. Earn a free airline ticket with thousands fewer miles than other reward programs. In addition, every dollar you spend earns you more than just one mile, so you accumulate miles faster. This card has reasonably low interest rates dependent upon which credit level under which you fall: excellent or good. Additionally, you also have the flexibility to redeem your miles for cash, hotels, car rentals, merchandise, charitable donations, gift cards, and more.
How this card works:
The Capital One No Hassle Miles Rewards Credit Card offers miles to two levels of credit: excellent and good. Your credit line is based on the strength of your credit history and the information you provide in your application. Capital One No Hassle Miles have no blackout dates and no seat restrictions. You can even redeem miles for any purchase on your Capital One card. Earn more miles and redeem fewer of them to get rewards.
Excellent credit is defined as having had a loan or credit card for at least five years, a credit card with a credit limit greater than $10,000, never been more than 60 days late on a credit card, medical bill or loan payment and have never declared bankruptcy. Consumers with this rating can expect an APR of 0% until January 2010; after that, 9.9% variable and a credit limit of $500 – $20,000.
Good credit is having had a loan or credit card for three years or more, a credit card with a credit limit above $5,000 and not been more than 60 days late on any credit card, medical bill, or loan in the last year. Consumers with this rating can expect an APR of 0% until January 2010; after that, 13.9% variable and a credit limit of $500 – $15,000.
Benefits:
- Earn 2 miles for each dollar of monthly purchases above $500 and 0.5 miles per dollar on all other purchases with excellent. With good credit 1.25 miles per $1 spent on purchases.
- No Expiration on Miles and No Limit on the Miles You Can Earn
- Easier-book travel with ANY airline, hotel, cruise line, or rental car provider
- Faster-travel with as few as 10,000 miles
- Flexible-enjoy no blackout dates and no seat restrictions
- Save With a 0% Intro APR on Purchases Until January 2010
- $0 fraud liability
- 24-hour travel & emergency assistance
- 24-hour roadside assistance
- Extended warranty program
- Auto rental insurance
Fees:
- Cash advance fee: 3% of amount of the cash advance, but not less than $10
- Transfer fee: None
- Late payment fee: Your late payment fee will be based on the amount of your account balance at the time the fee is applied. Balance of $0 – $99.99 = $15 fee; balance of $100 – $249.99 = $29 fee; balance of $250 or more = $39 fee
- Over-the-credit-limit fee: None
Pros
The Capital One No Hassle Miles Rewards card offers a great mile rewards program to consumers of two different credit levels. This travel rewards program lets you earn at a rate higher than most other rewards programs. Miles will not expire and there is no limit to the number of miles you can earn. The emergency and roadside assistance is a great benefit, as is the extended warranty program and auto rental insurance.
Cons
You must have excellent to good credit to qualify for this card. If your payment is received late (3 or more days after your payment due date) twice within any 12 billing periods, your APRs will be increased immediately to the Default APR until you have made 12 consecutive on-time payments. The transfer rate and the introductory purchase rate are the same as the regular APR.
Apply for this Capital One No Hassle Miles Rewards Card.
(25 votes, average: 3.52 out of 5)
Loading ...
Comments:
June 9th, 2010 at 7:47 pm
Beware that in order to redeem miles for travel already taken – you have to have a transaction of exactly the value or less, of the amount of miles you have available to use. For example, if you want to use 35,000 miles (should be a $350 credit toward travel) – Capital One will only credit a TRANSACTION of that value or less – if your plane ticket costs $350.01 or more, you have to have 60,000 miles to cover that cost. This seems like a very underhanded way to trick customers into not getting the full credit for their miles.