If you have a balance of less than $25, your minimum payment is going to be equal to your balance. If that's not the case, your minimum payment will be the greater of $25 or 1% of your balance plus new interest, late payment fees, and an amount equal to a full year of membership fees divided by 12. Take into account that the bank might also add any past due amount to your minimum payment.
The Capital One Quicksilver minimum payment is either $25 or 1% of your statement balance, whichever is more.
If you don’t make the Capital One Quicksilver minimum payment by the due date, you’ll be charged a $25 fee for the first late payment. The fee goes up to $39 for any late payment within the following six billing periods. Capital One will add any late payment fees and past due amount to your next month’s minimum payment.
The Capital One Quicksilver credit limit is $1,000 to $10,000, depending on your creditworthiness. If you are approved for the Quicksilver card, the absolute minimum credit line you receive will likely be $1,000, though Capital One does not list a minimum or maximum credit limit in Quicksilver’s terms and conditions. These limits seem to be around $1,000 and $10,000 based on what cardholders report in forums, however.… read full answer
If you want to aim for a higher credit limit, there are a number of areas you should focus on improving.
Biggest Factors Affecting Capital One Quicksilver Credit Limits
Your payment history. If you’ve consistently paid your bills on time, creditors will view you as more trustworthy and will be more likely to extend you higher credit lines.
Income and assets vs. existing debt. The more money you have available for bill payments, the more comfortable a lender will feel.
Rent or mortgage payments. If these payments take up too much of your monthly income, you’ll have less to spend on credit card bills.
Remember, if you’re approved for the Capital One Quicksilver Credit Card, you’ll probably receive a credit limit of at least $1,000. You need at least good credit to get approved. And the better your credit is, the higher you can expect your spending limit to be.
The Capital One Quicksilver’s credit score requirement is “good” (700 or higher). Capital One also considers applicants’ income and debt when making Capital One Quicksilver card approval decisions. With a $0 annual fee, unlimited 1.5% cash back on every purchase and a $200 signup bonus, Capital One Quicksilver is an excellent rewards card.… read full answer
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