Capital One Quicksilver Money Rewards Credit score Card advantages
Along with limitless money again of both 1.5% or 5%, relying on the way you spend, this card comes with a couple of journey advantages and membership perks. The welcome bonus, which is pretty simple to qualify for however nothing out of the abnormal, is just for choose candidates.
Let’s discuss the important thing options of this card.
Rewards
Everybody with a Capital One Quicksilver Money Rewards Credit score Card will earn money again on all of their spending at a charge of 1.5%. This isn’t capped, there aren’t any bonus classes, and rewards by no means expire.
You can too earn 5% on lodge and rental vehicles booked via Capital One Journey. The secret is that you just have to make use of this journey portal. Should you don’t use Capital One Journey to make a reservation or reserving, you’ll simply earn 1.5% in your spending even for those who pay along with your Capital One Quicksilver Money Rewards Credit score Card.
There are a number of choices for redeeming rewards. You possibly can:
- Redeem them for assertion credit or checks
- Apply them retroactively to previous purchases to scale back your stability
- Use them to purchase present playing cards or donate to charity
- Use them to buy on Amazon.com or cowl PayPayl transactions
Fortuitously, there aren’t any minimums for redemptions, so that you don’t need to stockpile them earlier than cashing in.
Journey advantages
For a card with no price ticket, the Capital One Quicksilver Money Rewards Credit score Card has an honest suite of advantages. As a cardmember, you’ll take pleasure in the next providers for free of charge:
- Grasp RoadAssist Service
- 24-hour journey help providers
- Complimentary Concierge Service
These protections together with no overseas transaction charge are actually good to see, particularly on a bank card that isn’t particularly designed for use for journey.
One other good thing about this card is entry to Capital One Journey. Capital One Journey is a journey portal completely for eligible cardholders that gives Capital One’s greatest costs on journey bookings from flights to lodge reservations. And once you use your Capital One Quicksilver bank card to ebook lodge stays and rental vehicles via Capital One Journey, you’ll earn 5% money again.
Learn extra: Greatest journey rewards bank cards
Different perks
Moreover the advantages we’ve already coated, this card doesn’t include a complete lot of extras, with one exception. Proper now, members will obtain as much as six months of Uber One membership without cost within the type of assertion credit. This provide is barely good for six consecutive months of membership and doesn’t embrace the 30-day free trial.
Uber One, which usually prices $9.99 a month, offers members financial savings on UberEats orders and Uber rides, along with unique entry to limited-time promotions.
Capital One members additionally take pleasure in entry to member-only occasions and tickets via Capital One Eating and Capital One Leisure, however you don’t want the Quicksilver card particularly to entry these. Nonetheless, these might help you rating some cool experiences.
Welcome bonus
The welcome bonus for the Capital One Quicksilver Money Rewards Credit score Card is attention-grabbing. As an alternative of giving everybody the identical bonus provide as many playing cards do, this card solely awards bonus money to candidates with wonderful credit score.
In case you have wonderful credit score, you may earn a $200 money bonus after spending $500 inside three months of account opening.
However don’t assume that simply since you qualify for this card you’ll be eligible for the bonus. Should you “simply” have nice credit score, you gained’t earn any money bonus in any respect for those who open the cardboard.
There are primarily two variations of this card: the one you get when you have nice credit score and the one you get when you have wonderful credit score. Although the product itself is identical for everybody accredited, solely these with the very best scores and histories get the welcome bonus and lowest rates of interest.
A $200 money bonus is quite common inside this class of bank cards, although a $500 spending requirement is fairly low.
Charges and curiosity
Let’s dig into what this card can value you for those who don’t repay your invoice every assertion interval or use it for issues like stability transfers and money advances.
Annual charge
Zero {dollars} and nil cents.
Different charges
This card carries no annual charge (have we talked about that but?) and doesn’t cost overseas transaction charges both. However there are a couple of different charges typical for bank cards to make be aware of.
Money advance charge – 3% or $3 (whichever is bigger)
Steadiness switch charge – 3% on stability transfers made inside the first 15 months for debtors with nice credit score and no switch charge on the switch APR for debtors with wonderful credit score
Late charge – As much as $40 every time
APR
The common variable APR for this card is pretty common for an unsecured bank card at between 19.24% – 29.24% (Variable) for debtors with wonderful credit score. However some candidates will solely qualify for an rate of interest of 29.24%, which could be very excessive.
Due to the potential for a steep rate of interest, this card isn’t a sensible choice for carrying a stability from month to month and it’s essential to remain on prime of your due dates to keep away from paying curiosity.
Who’s it for?
For the next folks, the Capital One Quicksilver bank card is a straightforward alternative.
Individuals who wish to earn flat-rate rewards
Should you don’t wish to have to consider the way you’re spending your bank card or handle bonus classes which are at all times altering, the Capital One Quicksilver Money Rewards Credit score Card could be precisely what you’re in search of.
It makes an amazing major bank card as a result of it affords a fairly excessive credit score restrict for folks with robust credit score and doesn’t cost an annual charge, and also you’ll have flexibility when it comes time to make use of your cashback. All in all, it’s a low-maintenance card for low-maintenance folks.
Individuals with wonderful credit score
You want a excessive credit score rating and clear credit score historical past to qualify for this aggressive card. And also you want wonderful credit score for the bonus provide. Because of this and the decrease rate of interest, we advocate this card solely to these with wonderful credit score.
In case your credit score isn’t fairly adequate to be eligible for the decrease rate of interest vary and get the bonus provide, you may wish to store round a bit for different playing cards.
Experian defines wonderful credit score as a FICO rating of 800 or larger.
Capital One defines wonderful credit score as greater than only a rating alone. Along with a rating of at the least 750 (give or take), you also needs to not have any bankruptcies or mortgage defaults in your credit score and no late funds greater than 60 days overdue. As well as, you ought to have at the least one card or mortgage with a restrict of $5,000 or extra that you just’ve had for 3 years or longer.
Principally, they’re in search of a powerful, squeaky-clean credit score historical past that demonstrates expertise.
Good credit score, however, might embrace bankruptcies or mortgage defaults lower than 5 years outdated and late funds lower than 30 days overdue. In case you have any of those and also you get accredited, anticipate a variable APR of 29.24% – and don’t depend on a welcome bonus.
Individuals who wish to make stability transfers
This can be a respectable possibility for transferring a stability as a result of regardless that 15 months isn’t the longest introductory interval you will discover for a 0% APR provide, this card offers you that along with ongoing rewards. So you should use this card for stability transfers after which proceed utilizing it after that for your whole on a regular basis wants.
Many stability switch bank cards are higher for stability transfers as a result of they’ll provide you with an extended 0% APR interval, however they have a tendency to lack the continuing rewards of a extra general-purpose card like this. This one is sort of the very best of each worlds as a result of it doesn’t simply serve one use.
Who’s it not very best for?
There are some individuals who gained’t be capable of qualify for the Capital One Quicksilver bank card and a few individuals who can qualify however could be disenchanted by it. Listed here are a couple of examples.
Individuals with poor or honest credit score
Sadly, you may solely qualify for this card in case your credit score is within the good to wonderful vary. It’s not that it couldn’t be an amazing bank card for debtors with common or below-average credit score, however this demographic isn’t more likely to be eligible.
Learn extra: Greatest bank cards in case your FICO rating is between 600 and 649
New debtors
This card isn’t created with new debtors or these rebuilding their credit score in thoughts. It doesn’t provide credit-building options or different forms of assist that will help you work in your credit score, save for the flexibility to verify your rating. Additionally, you gained’t get accredited when you have a restricted credit score historical past anyway. Select a starter card or pupil bank card as a substitute for those who’re constructing from scratch or rebuilding.
Individuals who might earn extra with classes
Though they’re often extra work, rewards playing cards with rotating bonus classes typically provide the potential for additional cash again than flat-rate playing cards just like the Capital One Quicksilver Money Rewards Credit score Card.
Additionally, there are bank cards that pay larger money again charges on all the pieces. These additionally require wonderful credit score, however when you have the credit score for this card, you most likely have the credit score for a type of.
Learn extra: Greatest rewards bank cards
Capital One Quicksilver Money Rewards Credit score Card vs. rivals
The Capital One Quicksilver Money Rewards Credit score Card is exclusive in a couple of methods, however the thought of a flat-rate money again card is actually nothing new. Listed here are a couple of different bank cards that may simply be in comparison with the Capital One Quicksilver and could be a greater match for you.
Capital One QuicksilverOne Money Rewards Credit score Card
The Capital One QuicksilverOne Money Rewards Credit score Card is sort of a barely watered-down model of its Quicksilver counterpart that you may qualify for with honest credit score. It pays 1.5% money again on all the pieces and expenses no overseas transaction charge, nevertheless it doesn’t provide bonus money once you join, carries a (small) annual charge of $39, and has a decrease credit score restrict.
Should you can’t qualify for the Capital One Quicksilver Money Rewards Credit score Card however want you can, you’ll be pleased with the QuicksilverOne. It’ll assist you to construct your credit score in order that subsequent time you’re prepared to use for a bank card, you’ll have a greater shot on the one you need most.
Learn our full assessment.
Chase Freedom Limitless®
The Chase Freedom Limitless® card is probably the choice most much like the Capital One Quicksilver. It earns the identical charge of 1.5% money again on all the pieces, as many playing cards do, besides it additionally earns 5% money again on all journey booked via Chase Final Rewards and three% money again on eating and drugstore purchases.
In contrast side-by-side, the 2 have actually related journey and safety advantages, bonus affords, and redemption choices. Plus, each require at the least nice credit score.
For very frequent vacationers, the Capital One Quicksilver Money Rewards Credit score Card might come out on prime as a result of it doesn’t cost a overseas transaction charge whereas the Chase Freedom Limitless® expenses 3%. However from a pure rewards-earning standpoint, the Chase Freedom Limitless® is the superior card.
Learn our full assessment.
Citi® Double Money Card
One other robust contender within the flat-rate rewards card class, the Citi® Double Money Card earns as much as 2% money again on all the pieces, however the earnings construction is a bit of completely different than you could be used to. You’ll obtain 1% again immediately on every buy after which one other 1% once you repay every buy, therefore the “double money.” There’s actually no drawback to having rewards cut up up like this — it’s only a good purpose to repay your stability sooner.
The Citi® Double Money Card is probably going a greater possibility than the Capital One Quicksilver Money Rewards Credit score Card for many who wish to switch a stability as a result of its 0% intro APR provide lasts 18 months. It’s additionally most likely going that will help you make more cash again, however Citi factors won’t be price fairly as a lot.
Learn our full assessment.
Abstract
The Capital One Quicksilver Money Rewards Credit score Card is a aggressive bank card very best for individuals who wish to earn money rewards with out an annual charge. It’s not a nasty possibility for stability transfers and might help you lower your expenses on overseas transaction charges once you make purchases in another country. And for those who don’t thoughts reserving via Capital One Journey, you may earn much more money again.
That mentioned, this card isn’t the highest-earning card obtainable and is basically solely greatest for these with wonderful credit score scores. Should you can qualify for the cardboard however your credit score isn’t adequate for the very best rate of interest or you may qualify however need extra options and freebies, take into account different choices.
