Do you think a fair credit score and a good credit card can’t be put at the same spot? Wrong! We have gathered the most noteworthy Capital One Quicksilver One reviews to let you know how this is the card you don’t want to slip away.
Capital One Quicksilver One – At a Glance
Capital One Quicksilver card has become “favorite” of many customers around the US as it promises to be a safe choice for those with an average score. On top of that, it presents cashback offers which is not common for many cards in this category.
Luckily, you can enjoy a flat 1.5% cashback on all purchases done via this credit card. This means, although the card charges considerable annual fee, you would be able to make up for some it depending on how much you use the card in a year.
Note! With Capital One Quicksilver One cashback rewards credit card, you can set up auto-redemption. This means that all the earned cashback would automatically be applied as statement credit when it reaches a selected threshold.
On top of that, the card is free of any foreign transaction charges making it a perfect choice for use at places other the US. Besides that, the card does have a maximum late fee of $40 and 3% cash advance fee.
Currently, the card charges an ongoing APR of 26.99%. Pretty high? We agree but you can avoid it by making sure all your due payments are cleared before the billing cycle ends.
Do you want to read more? Stay tuned as we take you through a detailed section on the advantages and disadvantages of Capital One Quicksilver One credit card.
Capital One Quicksilver One Reviews – What Customers Think About These Credit Cards
Perhaps the biggest advantage of choosing a Capital One card is that they are backed up by an amazing mobile app. The CreditWise app lets you create a credit profile. You can use it to set in alarms and notifications. This is a great way to keeps tabs on an approaching due date.
Additionally, Quicksilver card allows for 1.5% cashback on all eligible purchases. This is a treat since most cards for average scorers come without any associated rewards. Triathlons has appreciated this offer by Capital one by commenting,
“My initial credit limit was $300. After 6 months of using it for normal weekly purchases, paying it fully the next day or two (to get maximum cash back and be able to use it again), and ensuring my balance at the closing date was always $0, my FICO score increased to a 3 bureau average of 738. I expected the C1 limit to raise to $500 based on what was shown on the website. It raised to $3300 instead. I love cash back; it’s amazing to get extra $ instead of owing interest.”
Furthermore, the card allows for credit limit increase after use of just 6 months. You don’t need to file an application instead the credit line would be increased automatically if you qualify for it. This would be decided by the authorities at Capital One Bank. In this regards, Sue Patterson shared his experience,
“Capital One will start to automatically review your QuicksilverOne account history after 6 months of having the account to see if you’re eligible for a credit limit increase. If you are eligible, you’ll be given an increase without requesting it. It’s also possible you’ll get an automatic credit limit increase from Capital One when you’ve had the QuicksilverOne card for a year.”
Lastly, your credit card will be covered with $0 fraud liability. This means that the bank would not hold you answerable for the unauthorized transactions made if you had reported a stolen or missing card.
In contrast to all the pros that we have talked about so far, Capital One Quicksilver One card also has its drawbacks. It is important to look into these before you apply for the card so you are not taken by surprise after becoming a cardholder.
First of all, the card charges a hefty annual fee as compared to other high-end cards in the market. Yearly expenditure of $39 may prove to be a little heavy on your pocket since it is deducted from the credit limit leaving you with a restricted budget.
However, Ian Goodwin, a committed Capital One cardholder, has given a good solution to this issue. He commented,
“This card was great when my credit history was poor. Yes, it has an annual fee but as long as you use it enough, the fee should be covered by your cash back amount! This card is a great way to build credit history and have a little bit of your hard spent, hard earned money, come back to you!”
Attention! Are you looking for a Capital One credit card for a fair score that does not charge an annual fee? Read our Capital One Platinum reviews to find out about a reliable alternative.
Another con is that no one can guarantee the acceptance of your application for QuickSilver card. Although it claims to be available for those with average credit score, the card has cashback and discount offers. Maybe that is why the bank is very keen in selected its users as Gwen Mati commented on Wallethub,
“I had good chance of getting approved and i got denied. Now it will affect me credit instead of helping it. I trusted the wallet hub that I would get approved if not i would have moved along. Not happy at all!!!”
Capital One Quicksilver One Reviews and Customer Support Service
As we have mentioned before, Capital One Bank provides one of the best customer support service in the US. You can immediately contact their support team in case you need help with card application, or wish to report any other issue.
Here are few quick methods of getting in touch with the bank’s representatives:
- For a quick response, call at their toll-free number 1-800-655-2265.
- If you own a non-branch account, you can contact on 1-888-810-4013.
- The number for reporting a stolen or a missing card is 1-804-967-1000.
Other than this, you can get in contact by E-mail at email@example.com.
Note! You can also write to the bank for general correspondence at the address: Capital One Bank P.O. Box 180 St Cloud, MN 56302-0180.
What’s The Final Note On Capital One Quicksilver One Reviews?
Quicksilver credit card is a perfect combination of low-effort application and amazing cashback offers. You would find that many customers with average scores have been approved for it when their form was denied by other banks.
Unfortunately, the annual fee is considerable as well as the interest rates. If you want to make the most of the cash you win back, it is best to clear monthly bills on time so you do not incur extra fees on late payments.
Capital One Quicksilver One reviews have confirmed that this credit card can prove to be a stepping stone to better cards. Are you going to consider applying now? Do let us know in the comment section below. We will be looking forward to it!