The Capital One Quicksilver Secured annual fee is $0 per year. Capital One Quicksilver Secured’s $0 annual fee is lower than the average annual fee among new credit card offers right now. It’s not the only fee you need to worry about with the Capital One Quicksilver Secured Cash Rewards Credit Card, though.
The Capital One Quicksilver credit limit depends on your income, creditworthiness and payment history. Capital One does not list a minimum or maximum credit limit in Quicksilver’s terms and conditions.
If you want to aim for a higher credit limit, there are a number of areas you should focus on improving.… read full answer
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.
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.
You can request a Capital One Quicksilver credit limit increase either online or by phone. New accounts opened within the past several months are generally considered ineligible. Capital One also recommends a history of on-time payments above the minimum amount due with all creditors. Anyone who has received a credit line increase or decrease on their Capital One Quicksilver in the past several months is usually not eligible.… read full answer
Here’s how to get a Capital One Quicksilver credit limit increase online:
Log in to your Capital One online account home page.
Click the "Services" tab.
Click the "Request Credit Line Increase" link.
On the request form, enter your total annual income, employment status, monthly housing payment, and maximum desired credit limit.
To request an increase by phone, call Capital One customer service at the number on the back of the card. From the automated phone system, choose "More Options" to hear the credit increase option. You will need to provide the same information as you would for an online request.
Asking for a Capital One Quicksilver credit limit increase will not affect your credit score, as Capital One uses a soft pull for all credit limit inquiries. After you’ve submitted your request, Capital One generally provides a decision immediately, but if they need to review further information, it may take up to 30 days. If you’re approved, your new credit line will be available immediately. If you’re denied a credit limit increase, Capital One allows you to submit another request any time you like, but your odds of approval are better if you wait six months. Capital One Quicksilver also offers the possibility of automatic credit limit increases for select customers. But there’s no guarantee when, or if, one will occur.
To accept an offer to upgrade Capital One Platinum to Capital One Quicksilver, click “Upgrade Now” on the notice in your online account or email, followed by “Finalize Now,” and check the box stating you agree to the terms. Click “Upgrade Card” to complete the process. Upgrade offers do not affect your credit score. If you call customer service to request an upgrade, however, Capital One will pull a copy of your credit report to see if you qualify. This will cause a slight decrease in your credit score, but only temporarily.
Here’s what happens once you upgrade from Capital One Platinum to Capital One Quicksilver:
Once you’ve qualified to upgrade Capital One Platinum to Capital One Quicksilver, you should receive your new card in about 7 to 10 business days. Unless it’s stated differently in your upgrade offer, you will keep your current card number with no changes to either your APR or credit limit. You can use the Capital One Platinum and utilize Capital One Quicksilver’s features and benefits until the new card arrives. However, when you upgrade, you are not eligible for the Capital One Quicksilver’s $200 initial bonus.
If you don’t qualify for an upgrade from Capital One Platinum to Capital One Quicksilver, consider the Capital One QuicksilverOne Cash Rewards Credit Card instead. Its credit requirements are similar to the Capital One Platinum’s, but it offers 1.5% cash back on all purchases. There’s also a $39 annual fee.
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