Friday, 29 May 2020

Capital One Quicksilver Card Review

Capital One Quicksilver Card Review
14 Sep
3:08

The Capital One® Quicksilver® Card – 0% Intro APR for 15 Months (after, 14.74% – 24.74% (Variable) APR) is a decent $0 annual fee card that offers a cashback program and the opportunity to get out of debt. This card also provides great Visa Signature® perks, such as access to exclusive shopping discounts, lost luggage reimbursement, and perks at over 900 luxury hotels. However, you can find cards with better balance transfer offers and more robust cashback programs — many with no annual fee.

Capital One® Quicksilver® Card - 0% Intro APR for 15 Months

APPLY NOW Secured

on Capital One’s secure website

Capital One® Quicksilver® Card – 0% Intro APR for 15 Months

Regular Purchase APR
14.74% – 24.74% (Variable)
Intro Purchase APR
0% intro on purchases for 15 months
Intro BT APR
0% intro on balance transfers for 15 months
Annual fee
$0
Rewards Rate
1.5% Cash Back on every purchase, every day
Balance Transfer Fee
3%
Credit required
good-credit
Excellent/Good

Breaking down the balance transfer offer

The Capital One® Quicksilver® Card – 0% Intro APR for 15 Months offers 0% intro on balance transfers for 15 months and 0% intro on purchases for 15 months. After the intro periods, 14.74% – 24.74% (Variable) APR applies. This is an average length intro period and can provide you with the opportunity to rid yourself of existing debt and possibly avoid falling into new debt.

However, be aware that there is a typical 3% balance transfer fee. This fee is often outweighed by the amount you save by transferring a balance from a high-interest card to a card offering an intro 0% period — but if you want to increase your savings, check out no-fee balance transfer cards.

Rewards breakdown

This card offers a subpar 1.5% cash back on every purchase, every day. We generally recommend cards that offer at least 2% cash back. However, there is a decent new cardmember offer: One-time $150 cash bonus after you spend $500 on purchases within 3 months from account opening.

Cash back can conveniently be redeemed for any amount at any time. Redemption options include a statement credit or check with the option to set up automatic redemption at a set time each year or when a specific threshold ($25, $50, $100 or $200) is met. Other redemption options include for previous purchases, gift cards, and more.

Check out our roundup of the best cash back cards.

Key features

  • No foreign transaction fee
  • Shopping discounts: Receive discounts at online merchants and retailers.*
  • Auto rental collision damage waiver: When you pay for an eligible rental with your card, you may receive coverage for damage due to collision or theft — at no additional cost.*
  • Visa Signature® Luxury Hotel Collection: When you stay at one of over 900 Visa Signature® Luxury Hotel Collection properties, you can access premium benefits such as room upgrades and late check-out, when available.*
  • Fine Wine & Food: You can access special dining and wine experiences and receive discounts or complimentary wine tastings at participating establishments.*
  • Visa Signature® Concierge: Representatives are available 24/7 to assist you with various requests such as finding tickets to the top sports and entertainment events, booking travel, and making dinner reservations.*
  • Travel accident insurance: When you pay for your common carrier trip (airplane, train, etc.) with your card and you may be be covered for accidental death or dismemberment, at no extra cost.*
  • Lost luggage reimbursement: Your checked or carry on luggage may be covered up to $3,000 if your luggage is lost or stolen when your common carrier trip is paid entirely with your card.*
  • Roadside Dispatch®: In the U.S. and Canada, if your car breaks down and you’re in need of towing and locksmith referral services, Roadside Dispatch® is available 24/7.*
  • Travel and Emergency Assistance Services: When you’re away from home, representatives are available to help coordinate medical, legal, and travel services.*

*Terms apply.

What to know before completing a balance transfer

While a balance transfer can be a great way to get out of debt, there are a few key terms you should familiarize yourself with prior to completing your transfer:

  • Balance transfer fee: At 3%, this fee is typical, and most likely will be worth the amount you save on interest.
  • Regular purchase APR: Any balances that remain after the intro period ends will incur a 14.74% – 24.74% (Variable) APR. As a result, it’s key to pay off any balances you accrued prior to the end of the intro period.
  • Balance transfer window: Balances can be transferred any time during the intro period, but the longer you wait the the less time you have to take advantage of the offer. Therefore, transfer balances when you open the card or soon after so you can reap the full benefits.
  • How long the balance transfer takes to process: Balance transfers typically take up to 14 days to process, so we recommend continuing to make payments on your old card until the balance transfer posts to your account — this way you won’t rack up late payment fees.

What other cards should I consider?

For a flat-rate cashback program and a long balance transfer offer:

Citi® Double Cash Card – 18 month BT offer

APPLY NOW Secured

on Citibank’s secure website

Read Full Review

Citi® Double Cash Card – 18 month BT offer

Annual fee
$0*
Intro BT APR
0% for 18 months on Balance Transfers*
Balance Transfer Fee
3% of each balance transfer; $5 minimum.
Regular Purchase APR
15.24% – 25.24%* (Variable)
Rewards Rate
Earn 2% cash back on purchases: 1% when you buy plus 1% as you pay
Credit required
good-credit
Excellent, Good

The Citi® Double Cash Card – 18 month BT offer is consistently our top pick for a flat-rate cashback card. You can earn 2% cash back on purchases: 1% when you buy plus 1% as you pay. That’s compared to the 1.5% cash back on every purchase, every day you earn with the Capital One® Quicksilver® Card – 0% Intro APR for 15 Months (after, 14.74% – 24.74% (Variable) APR). Plus the balance transfer offer is longer with an intro 0% for 18 months on Balance Transfers* (after, 15.24% – 25.24%* (Variable) APR). Additional perks of the Citi® Double Cash Card – 18 month BT offer include Citi® Price Rewind where you can register eligible items and Citi will conduct a 60-day search for a lower price, potentially crediting you for the difference if a lower price is found (up to $200 back per item, and up to $1,000 per year). Citi® Private Pass® also provides exclusive access to entertainment events.

For new purchases, balance transfers, rewards and a wide range of perks:

If you’re looking to transfer a balance or pay for new purchases over time, The Amex EveryDay® Credit Card from American Express is a comprehensive card that can provide you with numerous benefits. There is an intro 0% for 15 Months on purchases and an intro 0% for 15 Months on balance transfers (after, 14.74%-25.74% Variable APR). This card also provides a great $0 balance transfer fee. On top of that, you can earn rewards on new purchases with 2x points at US supermarkets, on up to $6,000 per year in purchases (then 1x), 1x points on other purchases. Other cardmember perks include travel insurance, exclusive entertainment access, free two-day shipping at select merchants with ShopRunner, and more. Terms apply.

For more alternatives, check out our roundups of the best cash back cards, the best balance transfer credit cards, and the best no-fee balance transfer cards.

Advertiser Disclosure: The card offers that appear on this site are from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all card companies or all card offers available in the marketplace.

Alexandria White

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Source: https://www.magnifymoney.com/blog/credit-cards-2/capital-one-quicksilver-card/

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