Capital one card has no monthly fees, you are close to a Capital One branch, you could direct deposit the money in there with your account and pin.
Capital One Quicksilver Card Review | CapitalOne
It reviews capital one Quicksilver cards, explains the difference between visa and MasterCard, suggests using Visa, even Platinum MasterCard is better than Mastercard.
We're going to be talking about the capital one Quicksilver cards, you did here plural, because there are two cards at stake, here one which uses visa as its financial hand, on the other that uses MasterCard, you have the Quicksilver rewards card and you have the Quicksilver one rewards card, and they're mostly the same, but with some slight differences.
I'm going to jump in there to begin, they both are cash back cards 1.5% on everything, that does cut slightly above what you get from discovering ITA or Chase, which is one percent on everything, although those cards have 5% on specific categories, but 1.5% is not anything to scoff at, it can add up gradually, especially if you use your credit card consistently and responsibly, and that cash back can be redeemed in terms of check your account or statement balance, or in terms of other rewards.
In addition, the Visa Card currently has a special, where if you spend 500 in the first three months, you get $100 back, which is a nice intriguing deal, certainly worth consideration annual fee, the visa has none, the MasterCard does have one, and I'll be talking about the end of the video whether it's worth, it given how much cashback, you're getting to be paying that fee to get into the financials, they aren't that dissimilar, so the introductory APR is 0% on both for the first nine months for the visa, it's after that 13.24 to 23.24 for the MasterCard, it's immediately 23.24, and the same rates apply for the transfer rate, and then for the transfer balance fee for the visa, it's 3% for everything the nine months for the MasterCard.
You don't have to pay that fee, the main reason why the MasterCard has higher rates is because it's oriented towards people who have less credit history, the Quicksilver rewards for people with better credit, and that's how the cookie crumbles, and that does affect later on in terms of the annual fee, whether it's worth getting either of them, in terms of design and aesthetics, I think they're functional slightly more flashy metal than what you saw with the platinum MasterCard, old drab gray, and the websites easily navigable, which you have to pay Capital One on the back for this, because banks usually don't do a good job in the IT department, it's just not their Forte, for whatever reason.
At the end of the day you look between these two cards, I certainly recommend the visa simply, because you get a small amount of cash back but no annual fee, and even just for that three-month special, you can just sign up and get that, and it's a good deal, this card isn't really going to work against you, if you get approved for it, now the MasterCard is not so hot, in the way you think well actually not hot in the way, just you can get the cash back, but first of all, the MasterCard you don't have the special three month, which is a big demotivational factor, but at the same time you get the cash back like you would with the other card, but I'm using their calculator, if you spend $200 a month in your credit card, which a young person without that much money, that's fairly reasonable, in a year you'd have $36 and cash back, beer money or gas money, but you're paying an annual fee of $39, so what you're actually getting at the end of year is negative three dollars, you're paying an annual fee to be able to access cash back, which if you don't spend enough, you're actually not surpassing the annual fee, so it's a lot and I don't believe in doing that, I think that no annual fees, you actually been from the cash back, otherwise you have to spend more and more to outpace the catio annual fee, which to me is not logical.
I'm not hugely concerned about differences in APR rates, because my cardinal rule is you always pay your balance every month, you don't carry anything, if you're going to do that, I don't want anything to do with you, because you're living dangerously, the only reason to do that is in the case of an extreme, like medical emergency, what I would say is this.
If you want to get a Capital One card, but you can't get approved for the Quicksilver rewards, instead of going for the MasterCard and being fleeced by this annual fee with lower cashback, just go for the Platinum MasterCard offered by Capital One, you won't get the cash back, but at least you won't be paying to get a card, where then you have to spend more to get enough cash back, to justify it, just do that, build up your credit and then apply for one with no annual fee, that does have those benefits included.