Some experts preach that avoiding credit cards altogether is a terrific way to make sure you’re never in debt. Others suggest leaning on credit cards as often as possible to improve your credit and earn rewards. I personally espouse the latter advice. That’s why the Capital One® Quicksilver® Cash Rewards Credit Card is one of the credit cards I use.
Learn more about this and other cash back credit cards and apply online at CardRatings.com.
$100 Sign-Up Bonus
Free money is free money; we all know. Well, new cardholders of the Capital One® Quicksilver® Cash Rewards Credit Card will earn some. In fact, they’ll get $150 after spending $500 in the first 90 days of opening an account. Two important points to make about this up-front bonus:
- Take a second to consider just how many things you can purchase with a credit card. If you’re like me, spending $500 in three months is no daunting task. As a father of two in a family of four, one month of groceries would get me to $500. Electricity, phone bills, cable and internet bills, gas, and a half dozen other routine monthly payments add up quickly. In all reality, that $500 minimum could be $5,000 and I’d probably still get there easily.
- A $150 cash bonus is not something to scoff at. This is amplified when considering that the Capital One® Quicksilver® Cash Rewards Credit Card has no annual fee. One of the ways a credit card company lures in new business is by offering a large initial bounty. Then, they sneakily back-load the contract with a high annual fee. While $150 is not the 100,000 points you could have received from applying for the Chase Sapphire Reserve earlier this year, you’re also not saddled with a $450 annual fee.
Perhaps the most important feature on the Capital One® Quicksilver® Cash Rewards Credit Card is the 1.5% cash back rate. This rewards rate is provided for all purchases with no tiers, limits, or expiration dates to worry about. Cash back can be credited to your account, deposited into your bank, or sent in the mail via paper check. Compared with its competition, the Capital One® Quicksilver® Cash Rewards Credit Card comes out somewhere around “upper middle class.”
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Capital One Quicksilver Pricing Details
Adding to the initial benefits, the Capital One® Quicksilver® Cash Rewards Credit Card offers a 0% intro APR. This period lasts for 9 months on both purchases and balance transfers. There is a 3% balance transfer fee, so I would not recommend this card for a balance transfers unless you cannot qualify for a top balance transfer credit card. After the introductory rate expires, the standard APR becomes 13.74%, 18.74% or 23.74% based on credit history. Keeping a running balance at these interest rates can add significant debt to your bottom line. Always do your best to pay your credit card balances in full every month!
There is no foreign transaction fee on the Capital One® Quicksilver® Cash Rewards Credit Card. This makes it a great card to use abroad. The cash advance APR is 23.74% variable, and there is a 3% fee (or $10, whichever is greater). Cash advances are one of the largest money makers for credit card issuers, as they bank money twice. They get your money both with an up-front fee and then a high interest rate. I would urge you to find almost any other alternative method for acquiring cash.
Quicksilver World Elite Mastercard® Benefits
Also included in ownership of the Capital One® Quicksilver® Cash Rewards Credit Card are World Elite Mastercard® Benefits. They include:
- Travel Protection – Mastercard can reimburse you up to $1,500 when booking your travel and then having to cancel for things such as sickness or injury. Non-refundable airlines tickets and hotel stays come to mind here, especially. Using your Capital One® Quicksilver® Cash Rewards Credit Card can offer some protection against poor circumstances.
- Price Protection – There are few greater pains in my personal finance life then making a purchase and finding it somewhere cheaper soon after. Price protection allows for reimbursement of the price difference, which is great for me. You just have to find the same item you bought at a lower price within 120 days.
- Extended Warranty – Some of the purchases you make using your credit card can be covered by an additional Mastercard warranty. It’s important to review the link above for this, though. There are a number of cans and cannots when it comes to utilizing the extended warranty offer.
- Identity Theft Resolution – If you feel your identity has been stolen, call 1-800-MC-ASSIST, and Mastercard will help in taking care of the problem. You’ll be assigned a Concierge Level Certified Restoration specialist that can provide you credit reports, documents to assist in a prosecution, or general help and assistance in fixing your credit report.
- Travel Upgrades – When booking your hotel stay, you can always check with the hotel to see if you qualify for travel perks. These include room upgrades, early check-in/late check-out and access to a portfolio of Luxury Hotels and Resorts.
- Concierge Service – Any hour of the day, cardholders of the Quicksilver World Elite Mastercard Benefits can call a hotline and get help with booking travel, dining reservations or assistance in purchasing hard to find items.
For a limited time only (expires April 2018), after applying and being approved for the Capital One® Quicksilver® Cash Rewards Credit Card, you can save 50% on your Spotify premium. The current Spotify premium is $9.99 per month, so you’ll save $5 per month on top of the 1.5% cashback savings.
Top to bottom, left to right, and front to back, the Capital One® Quicksilver® Cash Rewards Credit Card is a very strong cashback credit card to own. No, it does not sport the highest cashback percentage in the industry. However, the wide variety of perks and features keeps this card in my wallet at all times.