Capital One Quicksilver Agreement: Everything You Need to Know
The Capital One Quicksilver card is a popular cash-back credit card with no annual fees. It`s a versatile card that rewards you for making purchases, whether it`s at the gas station, supermarket, or restaurant. But before applying for the card, it`s essential to understand the terms and conditions of the Capital One Quicksilver Agreement.
Here`s everything you need to know about the Capital One Quicksilver Agreement:
Interest Rates and Charges
The interest rates and charges are some of the most crucial aspects of a credit card agreement. With the Capital One Quicksilver card, the interest rate ranges from 15.49% to 25.49% variable, depending on your creditworthiness. The penalty APR is also 29.99%, and there`s a minimum interest charge of $0.50. Additionally, you`ll be charged a cash advance fee of either $10 or 3% of the amount advanced, whichever is higher.
Rewards Program
The Capital One Quicksilver card`s rewards program is straightforward: you earn 1.5% cash back on every purchase you make with the card, with no caps or limits. Plus, you can earn a bonus of $200 cash back if you spend $500 on purchases within the first three months of account opening.
Balance Transfers
The Capital One Quicksilver card allows you to transfer your balance from another credit card to your new account. However, keep in mind that you`ll be charged a fee of 3% of the amount you`re transferring. Also, the balance transfer APR is the same as the purchase APR.
Fees and Penalties
It`s essential to know the fees and penalties associated with the Capital One Quicksilver card. Late payments will result in a fee of up to $40. Returned payments will also result in a fee of up to $40. If you go over your credit limit, you`ll be charged a fee of up to $40. Additionally, the penalty APR of 29.99% may be applied to your account if you make a late payment or miss a payment.
Insurance and Protections
The Capital One Quicksilver card comes with several insurance and protection benefits. These include:
– Auto rental collision damage waiver: If you rent a car using your Capital One Quicksilver card, you`ll be covered for theft and collision damage.
– Travel accident insurance: If you purchase your travel tickets with your Capital One Quicksilver card, you`ll be covered for accidental death or dismemberment.
– Extended warranty: If you purchase an eligible item using your Capital One Quicksilver card, you`ll receive an extended warranty of up to one year.
Conclusion
The Capital One Quicksilver Agreement is a vital document that outlines the terms and conditions of the Capital One Quicksilver credit card. It`s crucial to read and understand this agreement before applying for the card. By doing so, you`ll know what to expect in terms of interest rates, charges, rewards, fees, penalties, and insurance and protection benefits. With a clear understanding of the Capital One Quicksilver Agreement, you`ll be able to use your new credit card responsibly and make the most of its benefits.