You will be charged a 3 percent fee (or $3, whichever is greater), and you’ll immediately start accruing interest with a variable APR of 29.99 percent.
Tip: If you’re considering making a cash advance with the Quicksilver card to pay off a debt, be forewarned that the costs are high. If you need more time to pay off existing debt, the Citi Double Cash Card may be a better option, as it comes with both a comparable cash back rewards program and a 0% intro APR on balance transfers for the first 18 months (19.24% to 29.24% variable APR after that). This gives you the ability to finance large purchases or strategically carry a balance without sacrificing rewards. There’s also a balance transfer fee of $0 at the transfer APR, 3% of the amount of each transferred balance that posts to your account at a promotional APR Capital One may offer to you. The card offers a 0% introductory APR on new purchases and balance transfers for the first 15 months of card membership (19.99% to 29.99% percent variable APR thereafter). See related: How four different issuers grant cash back Financing purchases with the Quicksilver cardįor cardholders who need to transfer a pay off purchases over time, the Quicksilver card could be an attractive option. If you’re hoping to earn flexible, transferable miles, you should check out Capital One’s list of miles cards. You’ll have to call a representative to set up an automatic redemption, as well as to make updates to your redemption amounts – not very convenient! Tip: The Quicksilver card is a true cash back card and does not earn Capital One miles. However, Capital One recently removed the feature that allows you to set your rewards to redeem automatically in your online account. Note, Capital One also advertises an automatic redemption option for cash back on its site. You can also issue your cash back as a check – a nice option to have in case you want to close your card and cash out your rewards. Thanks to Capital One’s user-friendly interface, it’s a seamless process: You simply log into your account, visit the Rewards center, click the icon to “Cover Your Purchases” at the top of the page and choose from the list of purchases to apply your statement credit: You can also log into your account and apply your cash back as credits to your statement to cover purchases as far back as 90 days. Your cash back never expires, you can redeem any amount of cash back at any time and Capital One gives you multiple redemption options, including statement credits, checks, gift cards and more. If you are looking for ultimate ease, redemption is where the Quicksilver card has the edge. See related: Earn $200 bonus cash back with Capital One Quicksilver Cash Rewards credit card Easy cash back redemption This is also $50 higher than the card’s previous offer, while still requiring just $500 in spending. This is a solid offer for a no annual fee card, similar to the offer currently available on the Capital One SavorOne Cash Rewards Credit Card and matching the offer currently available on the Chase Freedom Flex℠ among others. The Quicksilver card offers $200 to new cardholders who sign up and spend $500 on the card in their first three months of card membership. Most people will likely earn more with a flat-rate card that earns higher rate of cash back, including the Citi® Double Cash Card, which offers up to 2 percent cash back – 1 percent when you make a purchase and 1 percent when you pay for your purchase. While the card’s boosted rate on hotels and rental cards through Capital One Travel sets it apart from the slew of cards that reward 1.5 percent back on every purchase, these purchases don’t make up a huge portion of the average person’s spending. This is a great option for a cardholder who wants a low-maintenance rewards card it, but it gives you few options for strategizing and boosting your cash back earnings. You earn unlimited 1.5 percent cash back on every purchase, as well as 5% cash back on hotels and rental cars booked through Capital One Travel.
The Quicksilver card’s earning scheme is designed for users who prefer simplicity rather than for maximizing value. See related: Capital One Quicksilver video review A just-decent everyday cash back card But cardholders ready to go the extra mile with their credit cards may be majorly missing out with this all-too-simple cash back card. Capital One Quicksilver review: More detailsīefore you apply for the Capital One Quicksilver Cash Rewards Credit Card, you should ask yourself: What kind of cardholder am I? Are you someone with good to excellent credit, who pays bills on time, but has little time or patience for credit card upkeep or for juggling more than one card at once? Or, are you willing to pour time into your cards to earn extra cash back?įor cardholders who want to keep things simple, the Quicksilver card is a good choice.
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