Marc Serafino
You may have read about some fancy credit cards offering a ton of perks to their owners. Chances are, those are the cards made for people with good or excellent credit score.
For a few reasons, Jim — a 42-year-old mechanic from Minnesota — is not in that group. He made a few bad choices in the past, and now his credit score is marked as “Fair” or “Average.” That, however, doesn’t mean he can’t get rewards for his card usage. Jim has a found a card that provides him with a straightforward way to get some cash back on every dollar he spends. More precisely, he’s getting 1.5% back on every purchase, whether that’s gas, groceries or a new sofa for his single bedroom apartment.
How Jim Gets Money Back on His Purchases?
Simply — he uses the Capital One® QuicksilverOne® Cash Rewards Credit Card, which offers 1.5% cash back on all his purchases. This card has an annual fee of $39, but he easily recoups that by doing what he would be doing anyway — using the card to pay for everything.
This card also comes with an introductory period of 0% APR on purchases and balance transfer, and includes no foreign transaction fee. So Jim plans to carry it on his trip to Mexico later this year.
And That’s Not All…
There are also some other benefits this Capital One card offers, but it’s time for our expert-in-residence to kick in with additional information:
Expert Review: Capital One® QuicksilverOne® Cash Rewards Credit Card
by Charles H. Miller
This is the best card for people with average credit rating, offering cash back on their purchases along with an introductory period of 0% APR and a few other perks. It does have an annual fee, but it’s worth the money. Here are the details…
Cash back: Earn unlimited 1.5% cash back on all purchases made with this card. The cash back can be redeemed as a statement credit or a check. There is also an option to set up automatic redemption according to a set time each calendar year, or when you reach a specific threshold such as $25 or $100. Alternatively, you can redeemed the cash earned for gift cards or for charitable donations.
Free Uber ride: Use this card to pay for Uber and get every 10th ride free (up to $15). The offer is good through March 31, 2017.
Platinum MasterCard benefits: Including extended warranty for purchases, 24/7 travel and roadside assistance, and price protection which reimburses you if a purchase you’ve made is found within 60 days for a lower price.
Capital One benefits: $0 Fraud Liability, which means you won’t be responsible for any payments made after your card is lost or stolen. You can also pick your own monthly due date and preferred payment method, and can also receive security and account alerts as emails or text messages.
Credit limit increase: Make the first five monthly payments on time and qualify for a credit limit increase.
APR: 0% introductory APR on purchases and balance transfers for the first 9 months. Afterwards, a standard variable APR of 23.24% will apply.
Annual fee: $39.
Is This The Card For You?
If you have an average credit score and want to benefit from a rewards card, the answer is YES. It is one of the best (if not the best) such card on the market. The Capital One® QuicksilverOne® Cash Rewards card has an annual fee of $39, but you should be able to recoup that by getting 1.5% back on all your purchases. Also, it has no foreign transaction fee, making this card useful both in the U.S. and when travelling abroad. Check it out.
