The Capital One Quicksilver regular interest rate is 17.99% - 27.99% (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.
The card’s regular interest rate is listed on your statement, in the “Interest Charge Calculation” section under “Annual Percentage Rate (APR)”.
The 17.99% - 27.99% (V) rate applies to both purchases and balance transfers.
The Capital One Quicksilver charges a separate 27.99% (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.
No, you don’t have to pay APR if you pay on time and in full every month. And your card most likely has a grace period. A grace period is the length of time after the end of your billing cycle where you can pay off your balance and avoid interest. To take advantage of a grace period, you need to pay for all your charges every single billing cycle. If you don’t do that one month, you’ll lose your grace period, and your charges will start accruing interest right away. You’ll have to pay in full for two consecutive billing cycles to get it back.… read full answer
So paying on time won’t get you out of paying interest on its own. You’ll just avoid paying late fees and hurting your credit score. You have to pay in full if you don’t want to pay interest.
Here’s how to avoid paying APR:
If you pay your bill in full by the due date every month, you won’t pay any interest, thanks to the grace period most credit cards have.
A credit card’s grace period typically is the time between the end of the billing cycle and the due date.
If you lose your grace period by carrying a balance past your due date, you can get it back by paying your bill in full two months in a row.
Getting a 0% Intro APR credit card gives you a larger window of opportunity to pay off your credit card. It allows you to pay off your balance before the end of the promotional APR period without accruing interest. You’ll still need to pay at least the minimum payment on time and any remaining balance that hasn’t been paid off by the end of the introductory 0% APR period will accrue interest at the card’s regular rate. It’s also a good idea to pay more than your minimum payment every month, as leaving a big balance on a credit card for a long time can cause a dip in your credit score.
The simplest way to handle things is to set up automatic monthly payments for your full statement balance from a bank account. Just make sure that account’s balance doesn’t get too low.
A Visa credit card grace period is the window during which you are allowed to pay your Visa credit card bill without having to pay interest. If you carry any balance between billing cycles, you will lose your Visa credit card grace period and will be charged interest on the unpaid portion of the balance. Any new purchases will then be charged interest daily, until you pay your full statement balance two billing cycles in a row.… read full answer
Here are some Visa credit card grace periods:
Bank of America Visa Cards: 25 days
Barclays Visa Cards: 23 days (20 for business)
Capital One Visa Cards: 25 days
Chase Visa Cards: 21 days (20 for business)
Citi Visa Cards: 23 days
PNC Visa Cards: 21 days
Synchrony Visa Cards: 23 days
USAA Visa Cards: 25 days
U.S. Bank Visa Cards: 24-30 days
Wells Fargo Visa Cards: 25 days
The CARD Act states that issuers don’t have to have grace periods. But if they offer one, it must be at least 21 days. If your Visa credit card has a grace period, the issuer is also required by law to include those details in your credit card agreement. But grace periods aren’t always clearly defined. In fact, you may not see the term “grace period” anywhere in your credit card agreement or on your monthly statement.
How to find out how long your credit card grace period is:
On the “Interest Rates and Interest Charges” chart, look for something that reads, “Paying Interest” or “How to Avoid Paying Interest.” There you will find the number of days of your grace period and all the conditions that apply. You can also call your card’s customer service number on the back of your card with any questions on grace periods.
There is no Visa credit card grace period for cash advances. There is also no grace period on balance transfers. You may have a Visa card with a 0% promotional APR on balance transfers, but that is not the same as a grace period. You still technically owe interest, it’s just 0%. To avoid interest on new purchases after you transfer a balance, you must pay your Visa card in full by the due date. This includes any transferred balances.
Yes, the Capital One Quicksilver Card has an introductory purchase APR of 0% for 15 months after account opening. Once this intro period expires, any remaining balance on the Capital One Quicksilver Card will be subject to the regular APR of 17.99% - 27.99% (V).
Since the average 0% intro APR for new purchases lasts 12 months, the Capital One Quicksilver Card offer is above average. The Capital One Quicksilver Card also has a 0% intro APR for balance transfers, lasting 15 months. It is accompanied by a balance transfer fee of 3%.… read full answer
It's important to remember that even though you don't pay interest during 0% APR periods, you still must make timely minimum payments each month. You should also consider paying more than the minimum, since you'll want to pay off the credit card balance before the regular APR kicks in. For help planning your payments, try out WalletHub's Credit Card Calculator.
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