Full Assessment of Capital One Quicksilver Credit score Card
desk of contents
- Full Assessment
- Execs Defined
- Cons Defined
- Who This Card Is Finest For
- One-Time Provide
- Rewards Incomes Particulars
- Rewards Redemption Particulars
- Tips on how to Maximize Your Rewards
- Commonplace Advantages
- Cardholder Expertise
- Safety Options
- Last Verdict
- Often Requested Questions
Execs
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Easy rewards program and first rate return
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Good introductory affords
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No annual or international transaction charges
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No penalty APR
Cons
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No alternative for bonus rewards charges
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The APR might be comparatively excessive
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Requires glorious credit score
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Comparatively modest cash-back rewards
Execs Defined
- Easy Rewards Program and Respectable Return: In case you’re searching for a no-fuss cash-back bank card that pays respectably, this one is value contemplating. It affords a flat 1.5% cash-back rewards fee on each buy you make, and there’s no restrict to how a lot you possibly can earn. Whereas different rewards bank cards provide bonus charges on sure spending classes, a few of these additionally provide just one% money again on all different spending. With its mid-level normal fee (some playing cards pay extra), this card would possibly show not solely less complicated to make use of however extra profitable in the long term.
- Good Introductory Affords: As a brand new cardholder, you’ll earn a $200 money bonus when you spend $500 on purchases inside 3 months of your account opening. That’s an efficient 40% return on the required spending and it’s achievable even for somebody who has a comparatively small finances. On prime of that, you’ll additionally get an introductory 0% APR on purchases and stability transfers for 15 months.
- No Annual or International Transaction Charges: The cardboard not solely costs no annual payment—widespread amongst cash-back bank cards—but additionally no international transaction payment. It’s not the one cash-back card that waives this payment on purchases made overseas, however you’ll discover extra playing cards that do cost it. International transaction charges usually run shut to three% on every worldwide buy, so this card may prevent quantity.
- No Penalty APR: Not like most playing cards, the APR doesn’t improve to a penalty fee—normally the best rate of interest charged on the cardboard—after you’ve been in arrears on funds for 60 days or extra.
Cons Defined
- No Alternative for Bonus Rewards Charges: The simplicity of the cardboard’s flat-rate rewards construction is interesting. However for those who’re searching for a card that gives extra rewards in areas the place you spend so much, this one received’t do. What’s extra, it doesn’t provide the best flat rewards fee on the market. For instance, the Citi Double Money Card, one other card with no annual payment, affords 1% again on each buy plus one other 1% if you pay your invoice. The Alliant Cashback Visa Signature card provides you 2.5% money again on all purchases on as much as the primary $10,000 in spending.
- The APR Can Be Comparatively Excessive: After the cardboard’s introductory 0% APR promotion ends, the continued variable APR can vary from 19.99% to 29.99%, based mostly in your creditworthiness. Another playing cards have a decrease vary of APRs. In line with the Federal Reserve, the common bank card rate of interest throughout all bank card accounts that cost curiosity is 20.92%. After all, this APR received’t matter for those who pay your stability in full every month, which we advocate. However for those who suppose you might need a stability left after the promotional interval, otherwise you habitually carry a stability, keep in mind that you simply would possibly discover lower-rate playing cards.
- Requires Glorious Credit score: This card requires that candidates have glorious credit score. In line with Capital One, which means you have by no means declared chapter or defaulted on a mortgage, by no means paid greater than 60 days late prior to now 12 months on any bank card, medical invoice, or mortgage, and have had a mortgage or bank card for 3 or extra years that had a $5,000+ credit score restrict.
- Comparatively Modest Money-Again Rewards: Different playing cards pay the next flat cash-back fee. Plus you might earn extra in cash-back rewards with a card that gives tiered reward charges which can be tied to completely different buy classes.
Who This Card Is Finest For
The Capital One Quicksilver Credit score Card is a stable selection for individuals who don’t spend so much in anybody finances class and/or favor one rewards fee as a substitute of a number of charges that rely on the acquisition.
It’s additionally possibility for those who're searching for a protracted introductory 0% APR promotion on purchases and stability transfers.
The cardboard’s lack of an annual payment is interesting for people who find themselves typically fee-averse and don’t need to fear about incomes sufficient rewards to justify a yearly value. Simply make sure to take time to match it with different no-annual-fee playing cards to make sure you choose the proper one for you.
Lastly, given the absence of a international transaction payment, take into consideration getting the cardboard in order for you a cash-back bank card to make use of overseas. The charges of as much as 3% charged by different playing cards could not seem to be so much, however can add up over the course of a global journey.
Capital One Quicksilver Credit score Card One-Time Provide
You’ll earn a $200 money bonus when you spend $500 on purchases inside three months of your account opening. That's a mean spend of $167 per thirty days. It's an achievable tempo of buying, even for those who’re not an enormous spender.
Rewards Incomes Particulars
Cardholders earn a flat 1.5% money again on each buy, with no restrict on these earnings. On the one hand, that eliminates any want to emphasise sure spending habits with the intention to earn extra rewards on sure purchases. On the opposite, it additionally means there’s no alternative to earn greater than 1.5% in rewards on classes wherein you spend so much.
Rewards Redemption Particulars
You may have three selections when redeeming your rewards for money: a paper test, a press release credit score (common or in opposition to a selected buy), and present playing cards. You may also redeem your rewards on purchases made with PayPal and on Amazon.com.
Your rewards don’t expire so long as your account is open, so you possibly can accumulate them with out fear. What's extra, there’s no minimal redemption quantity, so you possibly can achieve entry to your money again anytime you need.
Tips on how to Maximize Your Rewards
On condition that the Capital One Quicksilver doesn’t provide bonus rewards charges, one of the best factor you are able to do to maximise your rewards is to make use of the cardboard each likelihood you get.
Nevertheless, concentrate on when a service provider costs further to make use of a bank card, as do some fuel stations, for instance. If the bank card worth exceeds the money worth by greater than your rewards quantity of 1.5%, you might need to pay in money or with a debit card—or use one other bank card that rewards you no less than as a lot as the value distinction. That means, you aren’t paying extra by opting to make use of this card.
On the subject of redeeming rewards, you would possibly need to take into account a present card, and logging on to test the redemption charges for these. Companions embody Amazon and PayPal. Whereas the present card rewards are an important profit, Capital One's web site doesn’t embody detailed details about which companies it companions with. You'll want to speak to a buyer consultant or begin the redemption course of for additional info.
Commonplace Advantages
- Concierge for reserving occasion tickets, journey, and different companies
- Journey accident insurance coverage
- Journey help companies
- Prolonged guarantee safety
- Entry to premier culinary experiences, in addition to music and sporting occasions
Cardholder Expertise
Capital One ranked fifth out of 11 nationwide card issuers and scored under common within the J.D. Energy 2022 U.S. Credit score Card Satisfaction Research.
The cardboard issuer gives free entry to your VantageScore credit score rating by way of its CreditWise function, however that platform is on the market whether or not you’re a cardholder or not. Many different card issuers present free entry to your FICO credit score rating, which is the rating utilized by most main lenders.
You probably have a query, you possibly can attain Capital One customer support. Nevertheless, not like virtually all different card issuers, entry is barely by cellphone or bodily mail; no e mail or on-line chat choices are provided.
You may also handle your account by way of Capital One’s cell app, which was ranked first out of 9 nationwide banks within the J.D. Energy 2022 U.S. Banking Cell App Satisfaction Research.
Safety Options
Capital One affords a few safety features that aren’t normal for the trade. Whereas virtually all issuers now mean you can freeze your card briefly if it’s misplaced, Capital One is amongst a choose variety of issuers that enable you to take action in a cell app.
In case you’re involved about utilizing your card quantity on-line, Capital One lets you create a digital quantity tied to the account that retains your card info protected.
You may also create a digital card quantity for every web site you employ and lock and unlock numbers everytime you need.
Last Verdict
The Capital One Quicksilver Credit score Card could be a sensible choice of rewards bank card for individuals who prioritize simplicity of their monetary lives. The cardboard’s limitless 1.5% cash-back fee on all purchases makes it straightforward to observe your rewards. It costs no annual payment, which implies yearly financial savings for you. The cardboard’s enticing introductory, 15-month 0% APR promotion on purchases affords you much more financial savings.
Furthermore, the $200 one-time money bonus that you simply obtain for $500 in spending inside three months of your account opening is definitely earned, and represents a superb return on required spending.
Often Requested Questions
What’s the highest credit score restrict for a Capital One Quicksilver card?
Capital One signifies neither a low nor excessive credit score restrict on its web site. It states that the credit score restrict will likely be decided because it evaluations your utility and your skill to pay. Nevertheless, third-party websites counsel that the best credit score restrict could also be as a lot as $10,000.
Is it arduous to get a Capital One Quicksilver card?
So long as you possibly can meet Capital One’s standards for the cardboard, it should not be arduous to get it. These embody glorious credit score (as outlined on its website), a credit score rating of about 700 and above, and the extent of earnings that it requires.
Is Capital One Quicksilver good for rookies?
It will not be your most suitable option due to the excessive credit score rating required. In case you do not but have a credit score historical past, search for a card that addresses that scenario. For instance, the Capital One Platinum bank card could not provide rewards, but it surely would not have an annual payment and it is designed for individuals with restricted credit score. That is perhaps place for a newbie to start out utilizing a bank card and construct their credit score historical past.
When do I get my Capital One Quicksilver $200 bonus?
After your spending inside the first three months of your account opening (and rewards membership enrollment date) reaches $500, you qualify for the $200 bonus for brand new account holders. Then, inside two billing cycles, Capital One will apply it to your rewards stability.
