Capital One Financial Corporation (NYSE: COF) today announced the launch
of Capital One Quicksilver®, a new cash back credit card that offers a
simple and straightforward way to earn and redeem cash back rewards
without the restrictions commonly found in other rewards cards. This new
card delivers tremendous value by allowing consumers to earn unlimited
1.5 percent cash back on every purchase, every day. Qualified customers
with excellent credit also have the opportunity to earn a one-time $100
bonus once they spend $500 within the first three months.
"A flat rate of 1.5% earn rate on all purchases from this new
Quicksilver card is a very compelling value proposition," said Ben
Woolsey, Director of Consumer Research at creditcards.com. "Combined
with no category sign-up requirements and no foreign exchange fees, this
should make Quicksilver among the most straightforward and best cash
back card options for consumers."
Many cash back cards today limit the amount of rewards consumers can
earn by putting caps on the cash back earned and requiring them to
repeatedly sign up for narrow or rotating bonus categories. *In fact,
more than half of consumers who have a cash rewards credit card say
they’d be frustrated if they had to activate their card every quarter in
order to earn higher cash back on specific categories. Capital One’s
Quicksilver has no limits on the amount of cash back that can be earned
and there are no rotating categories or sign-ups needed to earn the full
1.5% cash back.
“When we talk with consumers, we hear over and over how dissatisfied
they are with the complex structure of their cash rewards cards,” said
Mike Wassmer, Executive Vice President of US Card at Capital One. “What
we’ve found is that people want a card that offers rich cash back
rewards without having to keep up with where they spend and doesn’t
limit how much cash back they earn. We are proud to introduce the
Quicksilver card, a straightforward way to earn unlimited cash back.”
Quicksilver is designed to offer great value and an easy and flexible
redemption process so customers can truly enjoy their cash back rewards.
What’s more, there is no limit to how much cash you can earn and the
cash back rewards don’t expire. Once customers earn their cash back,
Quicksilver makes it easy for them to redeem those rewards at anytime
via a check, statement credit, gift card or a charitable donation.
Features of Capital One Quicksilver® Cash Rewards Credit Card include:
UNLIMITED 1.5% cash back on every purchase, every day
ONE-TIME $100 BONUS (once you spend $500 in the first three months)
NO COMPLICATED SIGN-UPS required
NO LIMITS to the amount of cash that can be earned
NO MINIMUMS that make redeeming cash rewards difficult
NO EXPIRATION DATE for rewards
NO FOREIGN TRANSACTION FEES like all other Capital One cards
"Capital One's Quicksilver really raises the bar for cash back cards,"
says Curtis Arnold, founder, CardRatings.com. "People want simple. It's
nice to have a card in your wallet that offers great value and takes the
confusion out of your rewards."
For more information about the new Capital One Quicksilver Cash Rewards
Credit Card visit www.capitalone.com/credit-cards/quicksilver-cash-rewards.
*Rewards Restrictions Study, Online Survey fielded in December
About Capital One
Capital One Financial Corporation (www.capitalone.com)
is a financial holding company whose subsidiaries, which include Capital
One, N.A., and Capital One Bank (USA), N. A., had $212.4 billion in
deposits and $300.2 billion in total assets as of March 31, 2013.
Headquartered in McLean, Virginia, Capital One offers a broad spectrum
of financial products and services to consumers, small businesses and
commercial clients through a variety of channels. Capital One, N.A. has
more than 900 branch locations primarily in New York, New Jersey, Texas,
Louisiana, Maryland, Virginia and the District of Columbia. A Fortune
500 company, Capital One trades on the New York Stock Exchange under the
symbol "COF" and is included in the S&P 100 index