Capital One Quicksilver Rewards Credit Card Review
- March 16, 2016
- Posted by: Jeff Gitlen
- Category: Credit Cards
- No annual fee
- No foreign transaction fees
- Chip technology
- 13.99% - 23.99%
- Cash Advance APR: 23.99%
- Penalty APR: N/A
- 0% intro APR for first 9 months
- Unlimited 1.5% cash back
- Earn a $200 one-time cash bonus after spending $1,000 within first 3 months
Picking out a new credit card can really be a daunting task, especially if you don’t really know what you are looking for. After all, most cards now offer some type of rewards program for cardholders as an incentive to use the card. Capital One is no different when it comes to offering rewards. One credit card that you may consider is the Capital One Quicksilver Rewards Credit Card. Let’s see if this could be the card for you.
Benefits & Rewards
The Capital One Quicksilver Rewards Credit Card allows you to earn cash back with all of your purchases. This is perhaps one of the biggest perks of being a cardholder. They will give you an unlimited 1.5% cash back on all purchases that you make. There are no categories to manage and keep up with and no limit on how much you can get back. You can also get an additional $200 bonus if you spend $1,000 within your first three months of being a cardholder. When you earn these cash back rewards, you don’t have to worry about any expiration dates, and you can redeem it for any amount, whenever you want, without restrictions.
On top of earning cash back rewards, you can also take advantage of the benefits that come with all Capital One cards, including their $0 Fraud Liability coverage and personalized security alerts for your account. They also offer online banking, mobile apps, and 24/7 access to their helpful customer service team. You will also get the benefits that come with World Elite MasterCard status. These benefits include extended warranty protection, complimentary concierge service, identity theft resolution services, travel upgrades, travel protection and price protection. This card seems to be jam packed with both benefits and rewards.
Rates & Fees
13.99% - 23.99%
Now that we have covered the benefits and rewards of the Capital One Quicksilver Rewards Credit Card, it is time to look closely at the rates and fees. The great news is that there is no annual fee for this card. That means you don’t have to pay anything every year just to have your account open.
There are some fees that you will want to look out for though. The fee for balance transfers is a 3% flat rate, taken from the balance transfer total. Cash advances also have a fee of 3% or $10. There are also late payment fees of up to $35 depending on where you live. Check out your state’s laws regarding the maximum penalty fees for a more accurate depiction of the penalty fee. Avoid these penalty fees by just making your payment on time each month.
When it comes to the APR on your card, it can vary from 13.99%, 18.99% or 23.99% depending on your own creditworthiness. The good news is that there is an introductory APR of 0% for the first nine months that you have your account open. Cash advances, however, do have a higher APR of 23.99% variable based on prime rates. To avoid paying interest on your account, you will want to make sure that you pay your balance in full every month during the 25-day grace period. After this date, your interest will be compounded based on the average daily balance.
The Bottom Line
Now that you know a bit more about the Capital One Quicksilver Rewards Credit Card, it is time to consider whether or not it is the right card for you. One of the biggest perks is that it has so many rewards without an annual fee. This really isn’t unheard of, but it is less common among cards these days.
This card is intended for people that have excellent credit. If you have some credit problems, you may not be approved. If you do have good credit, though, then this may be one of the better cards for you to consider.
Not satisfied? Check out some of the best Capital One credit cards that we have reviewed.