The Capital One Quicksilver Student Card gives you a 25-day grace period to avoid paying interest on your purchases. The grace period runs from the end of the billing period until the card’s payment due date. You won’t owe any interest as long as you pay your balance in full during that timeframe. Should you decide to carry a balance on your Capital One Quicksilver Student Card, it will accumulate interest daily at the card’s regular APR. Interest is compounded, meaning you will owe interest on both the principal balance and any interest already accumulated.
In addition to the regular interest rate, Capital One Quicksilver Student Card also charges a separate 25.24% (V) interest rate on cash advances. All Capital One Quicksilver Student Card card interest rates will be listed on your statement and on your online account summary.
The Capital One Quicksilver regular interest rate is 15.24% - 25.24% (V). But this card also offers intro APRs on purchases and balance transfers of 0% for 15 months. After that introductory period, Capital One Quicksilver’s APR is 15.24% - 25.24% (V).
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).” This rate applies to both purchases and balance transfers. The Capital One Quicksilver charges a separate 25.24% (V) interest rate on cash advances. There is no penalty APR for late payments.… read full answer
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 forfeit the 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.
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.
Capital One credit card interest rates range from 0% (for a limited time) to 26.99% (V), depending on the card and the cardholder’s creditworthiness. The best Capital One credit card for low interest rates is the Capital One Quicksilver Cash Rewards Credit Card because it offers 0% APR for 15 months on purchases and balance transfers, followed by a regular APR as low as 15.24% - 25.24% (V). This card also has a $0 annual fee.… read full answer
The Capital One credit cards with the highest interest rates are the Capital One Platinum Secured Credit Card (26.99% (V)) and the Capital One Platinum Credit Card (26.99% (V)). They’re also the easiest to get. The Capital One Platinum Credit Card accepts applicants with limited, while Capital One Platinum Secured Credit Card accepts people with bad or bad credit.
Most Capital One credit card interest rates are listed as a range, such as 14.74% - 24.74% (V). The better an applicant’s credit is, the better their chances will be of getting a rate at the low end of the range. All Capital One credit card interest rates are variable, meaning they can go up or down as the market changes.
Capital One also has a number of store branded credit cards, which can only be used at specific retailers. The interest rates for these Capital One store cards range from a low of 15.49% - 27.24% (V) on the Cabela's Credit Card to a high of 27.24% (V) on the Maurices Credit Card.
Your Capital One credit card interest rate will be clearly indicated on your monthly statement. Keep in mind that there’s also a separate interest rate for cash advances. And there’s a penalty rate for missing payments. Expect both of these rates to be equal to or higher than the regular interest rate.
Capital One interest charges are calculated by dividing 15.24% (V) - 26.99% (V) by 365. The resulting rate is approximately what Capital One applies to an unpaid credit card balance every day until it is paid in full. However, the math gets a little bit complicated.
Capital One adds up each day’s balance and divides the total by the number of days in the billing period. Capital One also sets a daily periodic rate, which is the Annual Percentage Rate (APR) divided by 365. To calculate the interest, Capital One multiplies the average daily balance and the daily periodic rate, then multiplies the result of that by the number of days in the billing period. If there’s a $0 or negative balance from the previous billing period, however, this does not apply.
Keep in mind that the APR is generally what you’d pay in interest over an entire year. But with compound interest, you’ll end up paying slightly more. That’s because the interest charged one day becomes part of the balance accruing interest the next. However, this only occurs if you start a new billing period with an existing balance.
How to avoid paying interest:
Of course, you can avoid interest charges altogether if you pay your statement balance within the grace period every month. Capital One gives you 25 days until the due date to pay the entire balance with no interest. Any unpaid balance will incur daily interest charges and will cancel the grace period. You can have the grace period reinstated after you’ve paid the entire balance for two straight billing cycles.
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