Capital One Quicksilver Cash Rewards Credit Card Review

Capital One Quicksilver Cash Rewards Credit Card Review

Unleash simple cash-back rewards with the Capital One Quicksilver Cash Rewards Credit Card! Earn a flat 1.5% cash back on every single purchase, every day, with no annual fee holding you back. You can enjoy unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you’ll get Capital One’s best prices on thousands of trip options. Catch a profitable $200 welcome bonus after just $500 in spending within the first 3 months. Keep it straightforward and maximize your everyday rewards with the Capital One Quicksilver. It’s the perfect card for no-fuss cash-back lovers!

Quick Highlights:

• Enjoy a one-time $200 cash bonus after you spend $500 on purchases within 3 months of account opening.
• Earn unlimited 5% cash back on every purchase, every day.
• $0annual fee and no foreign transaction fees
• Enjoy up to 6 months of complimentary Uber One membership statement credits through 11/14/2024
• Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel.
• Cashback won’t expire for the life of the account.
• There’s no limit to how much cashback you can earn.
• 0% intro APR on purchases and balance transfers for 15
• 99%-29.99% variable APR after 15 months balance transfer fee applies.
• $0 annual fee plus no foreign transaction fees.

Capital One Quicksilver Cash Rewards Card Features and Benefits

• Unlimited 1.5% Cash Back: Earn 1.5% cash back on every daily purchase. This simple and straightforward rewards program doesn’t require you to keep track of rotating categories or spending thresholds.
• No Annual Fee: This card has no annual fee, so you can keep it in your wallet without worrying about hidden costs.
• New Card member Bonus: New card members can earn a one-time bonus of $200 after spending $500 on purchases within 3 months from account opening.
• 0% Intro APR: Enjoy 0% intro APR for 15 months on purchases and balance transfers. This can be a helpful way to consolidate debt or finance a large purchase without accruing interest. However, remember that the intro APR expires after 15 months, and the regular APR is 19.99% to 29.99% variable after that.

Other Benefits and Features

• No foreign transaction fees: You won’t be charged an extra fee for using your card abroad.
• Travel and entertainment assistance: Get help booking travel, making reservations, and more.
• Purchase protection: Get additional warranty protection and purchase security on eligible items.
• Card lost/stolen protection: Get immediate assistance if your card is lost or stolen.
• Automatic travel insurance: Get coverage for trip cancellation, interruption, and baggage loss when you book your travel with your card.
• Grace Period: Enjoy a 25-day grace period for purchases, allowing you to pay off your balance without accruing interest
• Redeem points: Redeem your rewards for statement credits, gift cards, and more. There is no limit to how much you can redeem.
• Additional Perks and Benefits: Enjoy extended warranty protection, price protection, and 24/7 travel assistance services.
• Extended Warranty: Enjoy added peace of mind with complimentary warranty protection on eligible purchases made with your credit card. Unlock extra coverage at no cost and shop confidently, knowing your items are safeguarded.
• Travel Accident Insurance: Travel confidently, knowing that your fare purchases with our credit card come with automatic insurance coverage at no additional cost. Enjoy peace of mind and protection against covered losses, making your journeys worry-free.
• Capital One Shopping: Maximize your savings effortlessly with Capital One Shopping, an online tool that automatically applies the best available coupon codes to your order. Discover the smart way to shop and unlock exclusive discounts with Capital One Shopping.
• Redeem Your Rewards with PayPal: Please make the most of your Capital One rewards by using them on eligible purchases at countless online stores. Find out how to leverage your rewards with PayPal and enhance your shopping experience.

Capital One Quicksilver Cash Rewards Card Rates and Fees

Fees and APR

• Annual fee: $0.
• Foreign transaction fee: none.
• Balance transfer fee: 3%
• Cash advance fee: either $5 or 5% of the amount of each cash advance, whichever is greater.
• Late payment fee: up to $40.
• Purchase APR: Varies based on creditworthiness, 19.99%-29.99% variable APR.
• Balance transfer APR: 0% intro APR for 15 months, then 19.99%-29.99% variable APR.
• Cash advance APR: 29.99%.

Other:

• Minimum security deposit: none.
• Chip card: Yes.
• Contactless payment: Yes.
• Travel insurance: No.
• Purchase protection: Yes.
• Extended warranty: yes.
• Credit Limit: Your credit limit of $750, as high as $10,000, will be determined based on your credit score and financial history.

Capital One Quicksilver Cash Rewards Credit Card Application process

Pre-qualification:

Capital One offers a pre-qualification tool on its website. This doesn’t guarantee approval, but it can give you an idea of your chances without impacting your credit score.

Eligibility Criteria 

• Credit Score: Generally requires good-to-excellent credit, meaning a FICO score of at least 690.
• Age: Must be at least 18 years old.
• Residency: Must be a U.S. citizen or permanent resident.
• Income: There is no minimum income requirement, but sufficient income to make payments is necessary.
• Employment: Not a requirement, but having a steady income source improves your chances.
• Social Security Number (SSN): Required for application.
• No recent bankruptcies: Open bankruptcy or recent discharges can disqualify you.

Application process

You can apply for the Capital One Quicksilver Cash Rewards Credit Card online, over the phone, or by mail. The online application is the quickest and easiest option. You’ll need to provide:

• Personal information: Name, address, date of birth, Social Security number or ITIN
• Employment information: Employer name, income, employment status
• Financial information: Housing costs, other debts

Approval process

Capital One uses a variety of factors to determine your eligibility for the card, including:

• Credit score: This is a major factor, with higher scores increasing your chances of approval.
• Income: Sufficient income to make payments is crucial.
• Debt-to-income ratio: Lower ratios are generally preferred.
• Employment history: Stable employment demonstrates creditworthiness.
• Credit history: recent delinquencies or bankruptcies can lead to denial.

Approval response

• Instant approval: Sometimes, you may receive an instant approval decision online.
• Further review: Capital One might request additional documents or verification if more information is needed.
• Denied: You’ll receive a notification explaining the reason for the denial.

Timeline

• Instant approval: You’ll know immediately.
• Further review: It can take several days to weeks.
• Decision by mail: up to 30 days by law.

Receiving your card

• Approved: If approved, you can expect your card within 7-10 business days.
• Denied: You won’t receive a card.

Contact Information

• Customer support: 1-800-CAPITAL (227-4825) / 1-877-383-4802
• Contact Online: Capital One Website

Conclusion

In conclusion If you want to earn simple, consistent cash back without the headache of tracking spending or bonus categories, this card should be a great fit. You’ll earn cash back at the same flat rate on every purchase, no matter where you shop or what you buy. You can redeem cash back in any amount at any time, and you won’t need to activate bonus categories or track spending to know you’re earning rewards, making the Quicksilver a solid option for low-maintenance cardholders.

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