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But, before you can start enjoying these fantastic benefits, it’s important to get the full picture. Read on to explore the key features, fees, and potential drawbacks of the Capital One Quicksilver Rewards Credit Card to help you decide if it’s the right fit for your wallet.
Features of the Capital One Quicksilver Rewards Credit Card
The Capital One Quicksilver Rewards Credit Card comes with a host of amazing features designed to make your life easier and more secure.
First, you’ll receive security alerts via text, email, and phone if any suspicious transactions are detected on your account, keeping you in the loop. Plus, with $0 fraud liability, you won’t be responsible for unauthorized charges if your card is lost or stolen.
For added peace of mind, you can use virtual card numbers from Eno, Capital One’s virtual assistant, for online purchases, keeping your actual card number private. Eno also provides account alerts for potential mistakes or unexpected charges, such as duplicate purchases or sudden bill increases.
If you misplace your card, you can lock it using the Capital One Mobile app until it’s found. You can even see recurring merchants where your card is stored online, adding another layer of oversight.
Managing your account is straightforward. You can add an authorized user and track their spending, transfer higher-rate balances to your Capital One card, and set up autopay for automatic monthly payments.
The Capital One Mobile app makes it easy to manage your account, pay bills, view balances, and monitor your credit for free with CreditWise. You’ll also stay informed about changes to your TransUnion® or Experian® credit report with CreditWise alerts.
Additional features include extended warranty protection on eligible purchases made with your card, and 24-hour travel assistance services for emergency card replacement and cash advances.
You’re also covered with travel accident insurance at no extra charge when you use your card to purchase your fare.
Pros and Cons of the Capital One Quicksilver Rewards credit card
So, what are the advantages and drawbacks of the Capital One Quicksilver Rewards Credit card? Let’s explore:
Benefits
Here are some of the advantages of this card:
- Complimentary Concierge Service: Enjoy personalized assistance for entertainment, dining, and travel needs, available round-the-clock, every day of the year.
- Capital One Dining: Elevate your dining experiences with exclusive cardholder reservations at top restaurants and access to special culinary events.
- Capital One Entertainment: Access exclusive pre-sales, tickets, and special experiences for must-see events in music, sports, and dining. Explore entertainment options.
- Quick Assistance: If you ever need help, Capital One’s customer service representatives are available 24/7.
Cons
So what are the drawbacks:
- Income Requirements: Your monthly income (total annual income divided by 12) must exceed your monthly rent or mortgage by at least $425.
- Payment Ability Assessment: Capital One may assess your ability to make monthly payments based on their own criteria.
Rates and Fees
When you first open your account, you’ll enjoy a 0% introductory APR on purchases and transfers for the first 15 months.
After this period, your APR will be set at 19.99%, 26.24%, or 29.99%, depending on your creditworthiness, and it may vary with the market based on the Prime Rate. For cash advances, the APR is 29.99%, also varying with the market.
To avoid interest on new purchases, make sure to pay off your full balance by the due date each month, which is at least 25 days after each billing cycle closes. Interest on cash advances and transfers starts accruing from the transaction date.
The Capital One Quicksilver Cash Rewards credit card foreign transaction fee is zero. Also, there is no annual fee.
But for transfers during the introductory period, there’s a fee of 3% of each transferred balance that posts to your account. Then, after 15 months, this fee increases to 4% for any transferred balance at a promotional APR offered at other times.
There’s also a cash advance fee of either $5 or 5% of the cash advance amount, whichever is greater. Lastly, late payments may incur a penalty fee of up to $40.
Eligibility Criteria and Requirements
First, your address must be in one of the following locations: the 50 United States, Puerto Rico, Washington, D.C., or a U.S. military location. Addresses at correctional institutions are not eligible.
You must also be at least 18 years old and have a valid Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN).
Applying for a Capital One credit card two or more times in the last 30 days or receiving a new card member bonus for this product within the past 48 months may make you ineligible.
Additionally, you cannot have a past due Capital One credit card account, be over your credit line on a Capital One card, or have had a Capital One credit card that was charged off within the past year.
Non-discharged bankruptcies and credit security freezes preventing Capital One from accessing your credit report may also affect your eligibility.
If married, you can apply for a separate account, and all information provided in your application must be accurate.
How to Apply for the Capital One Quicksilver Cash Rewards Credit Card
Applying is easy. Just visit their website and click on “Apply”. If you already have a Capital One account, you can pre-fill the application with your existing information to save time.
If you don’t have an account, you’ll need to provide some personal information, including your legal first name, middle initial, legal last name, etc. Before you submit your application, make sure to read through the Important Disclosures.
Conclusion
The Capital One Quicksilver Cash Rewards Credit Card is a solid choice for those looking to earn unlimited cash back. With its array of features, it’s a competitive option in the cash rewards credit card market.
