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Capital One is one of the largest financial institutions in the United States, founded in 1988 and headquartered in McLean, Virginia.
The company offers a variety of products, such as credit cards, loans and bank accounts.
One of the products that has attracted attention is Capital One Quicksilver, which gives 1.5% cash back on all purchases, with no limit on earnings, plus a $200 bonus when you spend $500 in the first three months.
And best of all: no annual fee! Want to know how to apply for this card and enjoy all these benefits? Read on!
Capital One Quicksilver
Earn unlimited No annualHow does the Capital One Quicksilver work?
Capital One Quicksilver is a credit card that offers cash back rewards in a simple and advantageous way. With it, you earn 1.5% cash back on all purchases, with no limits or specific categories.
In other words, no matter what you buy – whether in supermarkets, online stores or when traveling – you will always get 1.5% back.
In addition, the card offers a $200 bonus if you spend $500 in the first three months after opening the account. Best of all, there’s no annual fee.
Quicksilver also comes with a 0% introductory APR for 15 months on purchases and balance transfers, which can help you save on initial purchases.
Rewards don’t expire as long as your account is active, and you can redeem in a variety of ways, such as statement credit, checks or even Amazon and PayPal purchases.
The Capital One Quicksilver card is an interesting option for those looking for advantages, but it’s important to know the pros and cons before deciding.
Main benefits for the Capital One Quicksilver
Capital One Quicksilver offers several benefits that make managing your card easier. You can add authorized users to your account and keep track of their spending.
If you have higher interest debts on other cards, you can make balance transfers to Quicksilver and take advantage of the 0% rate for 15 months.
Customer service is available 24 hours a day, ready to help you whenever you need it. Another facility is Autopay, which allows you to set up automatic bill payments every month, worry-free.
With the Capital One Mobile app, you can manage your account from anywhere, view your balance, pay bills and even track your credit with CreditWise.
And to make things even easier, the Eno virtual assistant lets you manage your account by text message, making everything quicker and simpler.
You will be redirected to the official website
Cons for the Capital One Quicksilver
Despite its benefits, the Capital One Quicksilver has some downsides. For starters, you need to have an excellent credit score to be approved, which can be a challenge for those with limited or regular credit.
In addition, after the initial 0% APR period for 15 months, the interest rate can be quite high, ranging from 19.74% to 29.74%. Although there is no annual fee, the card does charge balance transfer fees and late payment fees, which can be a problem if you don’t keep an eye on the deadlines.
Finally, the 1.5% cashback reward is good, but not as advantageous as other cards that offer more rewards in specific categories.
APR and Fees
Capital One Quicksilver offers an introductory interest rate of 0% for 15 months on purchases and balance transfers, which can help you save money in the first few months.
After this period, the APR (annual percentage rate) rises to a range of 19.74% to 29.74%, depending on your credit, which can be high if you leave a balance outstanding.
The good thing is that the card has no annual fee, which is an advantage. However, it does charge fees for balance transfers and late payment fees.
On the other hand, there are no foreign transaction fees, which is great if you’re traveling outside the United States.
How to apply for the Capital One Quicksilver
To apply for the Capital One Quicksilver, the process is very simple and can be done online. First, go to the official Capital One website and search for the Quicksilver card.
Before filling in the form, it’s important to check that you have an excellent credit score, which is one of the requirements.
On the form, you will need to provide personal details such as your name, address, telephone number, as well as details about your annual income and credit situation.
Capital One also offers an option to see if you have been pre-approved, which can make approval easier.
After submitting the application, the bank will analyze your credit. If approved, you will receive the card and can start using the rewards.
