If you’re looking to get a Capital One card but not sure what the credit limit is, we’ve got you, in this article, we will be discussing Capital One Quicksilver credit limit, along with some important stuff you need to know about Capital One Quicksilver.
The Capital One QuicksilverOne card offers unlimited 1.5% cash back on every purchase and is available for consumers with average credit or limited credit history.
It charges an annual fee but, compared to other cards with the same target market, may be worth it for the higher rewards rate.
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The Capital One QuicksilverOne Credit Card
Before we jump into discussions on the Capital One Quicksilver Credit limit, let’s have a brief look at what the Capital One QuicksilverOne card is best for.
This Card is Best For
- Seeks to maximize cashback earnings across spending categories
- Cash Back Strategist
- Dines out regularly while traveling or in-home city
- Frequent Diner
- Primarily responsible for household grocery and other major purchases
- Head of Household
- Incurs gasoline or other commuting expenses each month
- Driver/Commuter
The Capital One QuicksilverOne card is an excellent choice for consumers who are trying to build their credit history.
Even though it has an annual fee, you can earn rewards while you work to improve your credit.
With better rewards credit cards available for consumers with better credit, this isn’t a card you’ll want to hold onto forever.
But if you like it, you can apply for the Capital One Quicksilver card once your credit improves.
The Quicksilver card offers the same rewards rate but features a bonus, an introductory promotional rate of 0% APR, and no annual fee.
The QuicksilverOne card is an especially good choice if you’re planning to travel abroad. It doesn’t charge a foreign transaction fee, which is typically 3% of every international purchase.
Rewards Earning Details
If you want simplicity, this rewards program will work well for you. You’ll earn unlimited 1.5% cash back on every purchase you make with this card.
There’s no limit to how much you can earn in rewards or spending categories with varying rewards rates.
However, if you prefer to maximize your rewards on certain purchases, compare this card with others offering a tiered-rewards system.
For instance, if you’re a college student, the Discover it Student Cash Back card offers 5% cashback on different categories each quarter up to a quarterly cap, plus 1% cashback on everything else.
Rewards Redemption Details
The QuicksilverOne card offers three options for redeeming rewards: a paper check, a general statement credit (or a credit against a specific purchase), or a gift card.
Rewards don’t expire as long as your account is open. You can accumulate rewards for as long as you want, which can be beneficial if you’re saving up for a large purchase.
At the same time, there’s no minimum redemption amount so you can get your cashback as often as you want.
How to Maximize Your Rewards
With no bonus and a flat rewards rate, you don’t have to do any extra legwork to maximize the rewards you earn with this card. Just make sure to use it whenever you can.
Cardholders with a low credit limit should consider making multiple payments each month to avoid racking up a high credit card balance, which can hurt your credit score.
Cardholder Experience
Capital One was rated third in J.D. Power’s 2021 Credit Card Customer Satisfaction Study ranking about average in all categories the research firm explored.
The bank provides free access to your VantageScore credit score through its CreditWise feature, regardless of whether you have a Capital One credit card.
That said, the VantageScore isn’t as widely used among major lenders, and many credit card issuers offer access to your FICO credit score, which is more commonly used in lending decisions.
Capital One provides 24/7 customer service, which is standard among credit card issuers.
You can also manage your account online or with the card issuer’s mobile app, which was ranked No. 3 by J.D. Power in its 2020 U.S. Banking Mobile App Satisfaction Study.
The customer service department can be contacted at 1-877-383-4802 or at the number on the back of your card.
Security Features
Capital One provides cardholders with two helpful security features not standard in the credit card industry.
The first is the ability to lock your card from the mobile app, which can prevent someone from using it if it’s lost or stolen.
Second, you can create virtual credit card numbers to use online, you have the option of creating a different number for each online retailer, and you can lock and unlock them at any time.
Hidden Fees to Watch Out For
This card’s $39 annual fee isn’t high, but it’s uncommon for a cash-back credit card, even for fair credit.
The card doesn’t charge a balance transfer fee, which is uncommon, but with no introductory 0% APR promotion, you’ll be stuck with a high APR.
Other than that, the QuicksilverOne card’s fees aren’t out of line with the industry standard.
Capital One and World Elite Mastercard Benefits
The simplicity of the Quicksilver rewards structure is augmented by the rich collection of benefits the card bestows upon its owners.
As a World Elite Mastercard, the card provides the following:
Purchase assurance: Covers damage or theft for 90 days.
Price protection: Receive the lower price from a printed advertisement or non-auction internet ad within 120 days of purchase.
Extended Warranty: Doubles the original manufacturer’s warranty up to a maximum of 24 months, up to $10,000 per covered purchase.
Cellular wireless telephone protection: Covers loss or repair of your phone when you pay the monthly bill with the card.
Concierge services: Access to a personal assistant 24/7 for making reservations, planning a trip, getting tickets to unique entertainment venues, and much more.
Mastercard ID theft protection: Access to several identity theft resolution services.
Identity fraud expense reimbursement: Coverage of losses due to identity fraud.
Travel assistance services: Includes card replacement coverage, medical assistance, legal referral, roadside service, and more.
Car rental coverage: Up to 31 days of vehicle rental insurance.
World Elite programs: Receive complimentarily and discounted extras for air travel, cruises, hotel stays, tours, nightclubs, and more.
Beyond the rewards that accompany any World Elite Mastercard, the Capital One Quicksilver Cash Rewards Credit Card also provides:
- $0 fraud liability.
- Access to Eno, the Capital One assistant that supports virtual account numbers and reports potentially mistaken, unexpected, and duplicate payments.
- Instant purchase notifications.
- Access to Capital One Shopping to automatically apply coupon codes.
- Instant card lock.
- Gift card redemption.
- CreditWise alerts to credit-report changes.
- Visibility of the recurring merchants that store your card online.
- Autopay for automatic card payments every month.
- Tracking of spending by authorized users.
It boggles the mind that the Capital One Quicksilver Cash Rewards Credit Card gives you this cornucopia of benefits for no annual fee.
What Is the Highest Credit Limit For the Capital One Quicksilver?
Now we’ve known all there is to know when using the Capital One Quicksilver, let’s have a look at what the Capital One Quicksilver credit limit looks like.
We’ve seen a review that pegged a Quicksilver initial credit limit at $30,000, a number we consider highly unusual.
Most Quicksilver cards have credit limits in the $1,000 to $10,000 range, with 35% between $1,000 and $3,000.
The following graph shows the credit limits of reviewers who were approved for the Capital One Quicksilver Cash Rewards Credit Card, as reported by Credit Karma in 2017:
Reviewers have reported that younger cardmembers in the age range of 18 to 24 have, on average, the lowest credit limits.
The opposite is true for folks who are 55 and older. Presumably, this indicates how the length of your credit history impacts your credit.
Request a Higher Limit
If some time has gone by and you haven’t been treated to an unsolicited limit increase, give the friendly Capital One customer reps a call at 1-800-955-7070.
If you make a compelling case, you may get your increase approved right on the spot, but don’t be surprised if it takes a few days to get a verdict.
You’ll receive written confirmation of the bank’s decision electronically or through the mail, depending on whether you’ve agreed to paperless documents.
Forum comments suggest Capital One approves many increases without a hard pull of your credit reports. That’s good because hard inquiries can harm your credit score, although the damage is mild and transient.
One argument for a higher credit limit is almost certain to get serious consideration declaring your intention to transfer balances from other cards to consolidate your credit card debt. The argument is especially potent if the other cards aren’t from Capital One.
What Is the Difference Between Quicksilver and QuicksilverOne?
Both of these Capital One cards provide the same unlimited cash back flat rate on all purchases.
The major difference between the two is that Quicksilver is designed for consumers with good-to-excellent credit.
And the Capital One QuicksilverOne Cash Rewards Credit Card competes for folks with average credit, fair credit, or worse.
Given the different audiences, you would expect Quicksilver to offer many features that QuicksilverOne doesn’t, and you’d be right.
QuicksilverOne jettisons the signup bonus and 0% introductory APR found with the Quicksilver card.
While it’s not surprising that the QuicksilverOne has a higher regular purchase APR, it also charges an annual fee.
The reason for both is the higher risk Capital One accepts when approving QuicksilverOne to bad credit consumers.
By charging more interest and fees for obtaining and using QuicksilverOne, Capital One helps cushion itself from loss due to account defaults.
Only the Quicksilver is a World Elite Mastercard, a designation that comes with a benefits bonanza that QuicksilverOne can’t approach.
Think of QuicksilverOne is a card that can help you improve your credit score by allowing you to demonstrate creditworthy behavior by paying your bill on time, keeping your balance low, and not exceeding your credit limit.
Conversely, QuicksilverOne cardmembers can think of Quicksilver as the brass ring they can grab by lifting their credit score.
The score improvements they can gain through the responsible use of their QuicksilverOne card will help pave the way to acceptance as a Quicksilver card owner.
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CONCLUSION
To conclude; the Capital One Quicksilver credit limit is a very important factor before getting a Quicksilver card.
Nevertheless, This card’s decent flat rewards rate can justify the annual fee, and the simple rewards program doesn’t require you to change your spending habits to maximize its value.