Capital One Cash Rewards for Newcomers
Capital One Cash Rewards for Newcomers
Whether you're new to the country, graduating from college or simply looking to rebuild your credit after falling off-track, the Capital One Cash Rewards for Newcomers card is a smart option.

The card gives cash back rewards of 2% for travel purchases and 1% for all other purchases. "It's rare to find a credit card for those with less-than-perfect credit that offers a rewards program," said Heckathorn.

The best part: It charges no annual fee, a rarity among subprime credit cards. On the flip side, however, the interest rate is a sky-high 24.9%, so don't plan on carrying a balance if you pick this card.

"[The APR] shouldn't matter because your goal should be to build your credit history by using the card sparingly and always paying your balance in full," said Heckathorn. "If you plan on carrying a balance right from the start, this isn't for you."

Since this is an unsecured card, it's going to be harder to get if you have horrible credit, but it's a great option for someone who has limited or no credit history, said Heckathorn.


By Blake Ellis @CNNMoney - Last updated April 30 2012: 12:32 PM ET
Join the Conversation
Got bad credit? Banks want you again

Credit card issuers are starting to ramp up lending to consumers with less than perfect credit, but be careful not to jump on an offer too quickly.

Find Homes for sale
  • Property Type
  • Find a home in:
    New York | Atlanta | Chicago | Los Angeles
    Washington D.C | Houston | Philadelphia | More options
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.