My One Year Anniversary with Capital One Mastercard

17 May

My total cash reward for the year is $217.66 just for spending on my Capital One World Aspire Cash Mastercard.

Here is my breakdown:

Bonus Sign Up:  $100
1% earned for my total spendings:  $79.74
0.5% bonus 1 yr anniversary:  $37.92
Total Cash Reward:  $217.66

This means I spent $7,974.00 over the course of the year on my Captial One Mastercard.  Spending responsibly on your credit card can be quite rewarding as you can see.  Some personal finance gurus say credit cards are evil, use cash only… that’s the best way to limit your spending habits.  But with cash, you’re not getting rewards and you’re not keeping a detailed track record of your expenditures.

I am 100% pro credit card!  Just as long as you spend within your limits and pay off your balance on the due date!

Most of my gas/groceries purchases were made on my MBNA Smart Cash Mastercard.  It is only recently, I’ve been putting some of my gas/groceries charges through my Capital One.  I took out $8000 balance transfer from my MBNA Mastercard to take advantage of a promotion rate of 0% for 6 months.  If I put any purchases on that card, I will incur interest.  For the first month, I did not know this and put through some charges.  Now they will charge me interest on those purchases until I repay my full $8,000 loan to them.  Which is BS, since I paid more than the minimum balance to pay off those purchase charges.  But the way the balance transfer works, is if you put any purchases on that card, it will incur interest until your balance is paid in full.  So right now, I’m paying a few dollars in interest for my purchases, but no interest on my 0% transfer balance of $8,000.  Lesson learned!

Capital One Year Rewards

4 Responses to “My One Year Anniversary with Capital One Mastercard”

  1. Alex Yang (@yyangalex) May 18, 2013 at 2.33 #

    ah so thats how balance transfer works… never used it myself. tricky!

    • agentfang May 18, 2013 at 2.33 #

      yup i thought i could just pay off the purchases, but when the next statement came, i knew i’d be hooked in for the interest for those purchases. luckily, it’s only $200 bucks. but still interest that I didn’t intend on paying to begin with.

  2. Ian M May 30, 2013 at 2.33 #

    Looking everywhere to find a signup bonus for the capital one aspire world cash card. Was this a one time thing?

    • agentfang May 30, 2013 at 2.33 #

      Hey, I checked out the website and couldn’t find the $100 bonus for sign up now. It must be a promotional bonus when I signed up last year.

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