Capital One Quicksilver benefits guide
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The Capital One Quicksilver Cash Rewards Credit Card is one of the best cash back credit cards available today, and for more reasons than one. This card offers a flat rate of 1.5 percent cash back with no annual fee, and its generous 0 percent intro APR offer helps cardholders skip interest payments for over a year. New cardholders also earn a cash bonus of $200 after spending $500 on new purchases within three months of account opening.
Other Capital One Quicksilver card benefits make this card even more valuable, including an array of purchase protections, identity theft protection benefits and travel perks. However, you should note that the exact Capital One Quicksilver card benefits you receive will depend on your creditworthiness and the version of the card you’re approved for.
If you’re considering the Capital One Quicksilver and are wondering which perks you’ll get automatically, read on for an overview of the benefits of the Capital One Quicksilver card and when they apply.
Capital One Quicksilver intro APR benefit
The Capital One Quicksilver Cash Rewards Credit Card gives new cardholders a 0 percent intro APR offer on purchases and balance transfers for 15 months. This is an excellent offer, especially if you’re looking to finance a large purchase or carry a balance for more than a year.
After the intro period ends, however, you’ll be charged a variable APR of 19.74 percent to 29.74 percent. With that in mind, it’s best to pay off all balances on your card within 15 months after sign-up.
Capital One Quicksilver purchase protection benefits
The Capital One Quicksilver Cash Rewards Credit Card also offers several purchase protections that can help you save money or have items replaced or repaired. Purchase protections you’ll receive with the card can include the following:
Extended warranty coverage that comes automatically with this card extends the original manufacturer’s warranty for up to two years. You must pay for an item with your Capital One card for this coverage to apply.
This included coverage reimburses you for the price difference of an item you’ve purchased with the card if you find it at a better price. Coverage can be good for up to 120 days from the date of purchase in amounts of up to $250 per claim (on up to four claims per 12-month period).
Purchase protection from Capital One covers eligible purchases in case of damage or theft. This coverage can be good for up to $1,000 per loss for each cardholder over any 12-month period.
Capital One Quicksilver identity theft protection benefits
Identity theft is a prevalent issue, and your Capital One Quicksilver can provide some relief if you believe you’ve been a victim. Benefits in this realm can include:
Mastercard ID Theft Protection
This protection ensures you receive unlimited access to identity theft resolution services if you suspect you’ve become a victim of identity fraud.
Identity fraud expense reimbursement
This benefit can reimburse you for losses that result from identity theft. Coverage can apply to up to $1,000 in losses per claim.
Capital One Quicksilver travel benefits
The Capital One Quicksilver may include a number of common travel protections, particularly if you’re approved for the World Elite Mastercard version of this card.
No foreign transaction fees
The Capital One Quicksilver is a good card to take with you if you’re traveling abroad. Not only are Mastercard and Visa cards (both of which Capital One uses for issuing Quicksilver cards) widely accepted worldwide, but the card also doesn’t charge foreign transaction fees (like all Capital One credit cards).
Many other similar credit card products typically charge around 3 percent for purchases made outside of the U.S., but with the Capital One Quicksilver, you can save money on fees and continue to earn rewards while traveling internationally.
Travel accident insurance
This coverage protects you and eligible family members in the event of a qualifying accident while you’re traveling on a licensed common carrier. However, this coverage only applies to travel with a common carrier you pay for with a Capital One Quicksilver card.
Trip cancellation and interruption insurance
This protection applies if you have to cancel your trip for a qualifying reason, as long as you’ve charged the tickets to your Capital One Quicksilver card. The maximum benefit for this coverage can be up to $1,500 per passenger.
Baggage delay insurance
With this insurance protection in place, you may be reimbursed for up to $100 per day in incidental expenses per day (for up to three days) when your luggage is delayed. The coverage is secondary to any other type of insurance you may have and only applies to essential items you need when away from home. As with other travel coverage benefits, your tickets must be purchased with the Capital One Quicksilver.
Lost or damaged luggage coverage
Insurance for lost or damaged luggage reimburses you for your checked or carry-on luggage if it’s lost or in need of repairs. The maximum benefit amount for this coverage is $1,500 per incident for carry-on or checked luggage, and cardholders can only file a maximum of two claims per 12-month period.
Again, you must charge your airfare to the Capital One Quicksilver to use this coverage, and it’s secondary to any other insurance you may have.
Auto rental collision damage waiver
The auto rental collision damage waiver provides coverage in case of rental vehicle damage or theft when you’ve paid for it with your Capital One Quicksilver and declined the rental agency’s insurance. This insurance is secondary to your own insurance policy, so it only kicks in after you have exhausted the limits on other coverage you have.
Travel assistance services
Travel assistance services can help you and your companions when you’re traveling. For example, you can use this service to get a cash advance and emergency card replacement if your Capital One card is lost or stolen during a trip.
Complimentary Concierge Service
Cardholders can enjoy comprehensive, personalized assistance 24 hours per day and 365 days per year. This service can help book dinner reservations, shows, sporting events and travel, as well as offer advice on various plans you want to make throughout the year.
How to maximize the Capital One Quicksilver
If your goal is maximizing rewards with this Capital One card, be sure to pay for as much as possible with your card, particularly purchases that don’t typically earn higher category bonus rates. It would also be best to pair this flat-rate cash back card with a rotating bonus category card to earn more rewards on your spending.
Additionally, Capital One may offer Quicksilver cardholders valuable benefits like purchase, travel and identity theft protections, as listed above. Note that your Capital One Quicksilver may be either a Visa or a Mastercard, and of a certain tier, which impacts which benefits are offered to you. Some of the benefits listed above might not be included or might come with different terms. Consult your benefits guide to check what’s available to you so that you can be sure to take advantage of all the offered card issuer and network benefits.
The bottom line
The Capital One Quicksilver is a convenient cash back card, but it has much more to offer than its 1.5 percent cash back rate. Knowing all of the card’s benefits will help you to get more value out of it — and potentially save hundreds or even thousands of dollars.
That said, Capital One offers a variety of credit cards tailored to students, travelers, small-business owners and more. Make sure to compare all of your options before selecting a card so you can be sure you’ll get the best card for your needs — and consider reading through Bankrate’s list of the best cash back credit cards too.