You’ll want to avoid dynamic currency conversion, though. This is a foreign merchant’s offer to convert your transaction from the local currency to U.S. dollars. And it can be as much as 7% higher than the actual going rate. You can avoid this cost simply by turning down a merchant’s offer to convert your transaction and choosing to pay in the local currency.
Foreign transaction fees are usually 1-3% of the total price of purchases abroad (or online purchases made through international merchants). These are made up of the transaction fee imposed by credit card issuers and the exchange rate fee (typically 1%) tacked on by credit card payment processors (e.g.; Visa or Mastercard) to convert your purchase from the foreign currency to U.S. dollars. These fees apply when the merchant submits your payment for processing. The Capital One Quicksilver card, however, features $0 foreign transaction fees, so you won’t have to worry about any of these extra charges.
So as long as you avoid dynamic currency conversion, the Capital One Quicksilver can save you quite a bit of money.
The Capital One foreign transaction fee is $0 on all of its cards. This means you won’t be charged extra on transactions processed outside of the United States, whether it’s a purchase at a physical location in a foreign country, or an online transaction through an internationally-based merchant. That goes for every single Capital One credit card, from travel rewards cards to cash back cards.… read full answer
Good Capital One Credit Cards for International Purchases
Even though Capital One credit card foreign transaction fees are $0, there’s still one thing you need to watch out for: Dynamic Currency Conversion (DCC). Capital One doesn’t impose this on you, but they can’t protect you from it, either, unfortunately. Dynamic currency conversion is when a merchant charges you in U.S. dollars rather than the local currency and uses an exchange much higher than the actual going rate. So, make sure you pay in the local currency and refuse DCC at the point of sale, whenever a foreign merchant offers it.
As long as you avoid DCC, you won’t have to worry about extra charges when using a Capital One credit card abroad, or online with international merchants, thanks to your $0 Capital One foreign transaction fee.
The Capital One Quicksilver regular interest rate is 19.24% - 29.24% (V), based on creditworthiness. This card also offers intro APRs on purchases and balance transfers of 0% for 15 months. Note that balance transfers are subject to a fee of 3%.
What you should know about the Capital One Quicksilver interest rate:
The actual rate you’ll receive upon approval depends on factors such as your income, payment history, and debt level. … read full answer
The card’s regular interest rate is listed on your statement, in the “Interest Charge Calculation” section under “Annual Percentage Rate (APR)”.
The 19.24% - 29.24% (V) rate applies to both purchases and balance transfers.
The Capital One Quicksilver charges a separate 29.24% (V) interest rate on cash advances. There is no penalty APR for late payments.
If you do carry a balance on your card, it will accrue interest daily. Interest compounds, which means you owe interest on both the principal balance and any interest already accumulated.
How to avoid paying interest on your Capital One Quicksilver card:
The Capital One Quicksilver card gives cardholders a 25-day window known as a grace period to avoid paying interest. The grace period runs from the end of a billing cycle until the due date. As long as you pay your credit card bill in full during that timeframe, there won’t be any interest charges.
However, you’ll lose your grace period if you carry a balance to the next billing cycle. You can reinstate the grace period after you pay the entire balance for two consecutive months. The grace period does not apply to balance transfers or cash advances.
The Capital One Quicksilver annual fee is $0. The combination of no annual fee and great cash back rewards on all purchases really helps the Capital One Quicksilver Card stand out from its competition. It’s not the only fee you need to worry about with the Capital One Quicksilver Cash Rewards Credit Card Card, though.
An annual fee is a charge common with high-tier rewards cards. Issuers apply the fee to a cardholder’s account once a year to help offset the cost of those perks. But Capital One Quicksilver still has a $0 annual fee despite its above-average earning rate. This card offers at least 1.5% on purchases.
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