Capital One Quicksilver: 1.5% reward, thoughts?

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dickenjb
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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by dickenjb » Tue Nov 26, 2013 4:53 pm

ogd wrote: But perhaps most importantly for me, Barclays seems to be far less stingy with their credit limits than Capital One. Having to worry about the credit limit in a month with large purchases made me feel like a teenager again, in all the wrong ways. And they wouldn't raise it. Go figure.
Cap One gave me $30K credit limit and I am retired. That is plenty for my needs.

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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by Trimms » Wed Nov 27, 2013 11:29 am

Another thing to think about with the Barclays Arrival card is the sign up bonus significantly offsets the annual fee (which is waived the first year). You get $400 for spending $1000 within 90 days. This along with a 2.2% effective cash back rate means I use this card for all spending apart from gas purchases. Focusing on the annual fee seems penny wise, pound foolish if you put all your purchases on the card.

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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by ddunca1944 » Wed Nov 27, 2013 11:37 am

Currently I have both the Barclays Arrival card and the Cap One Venture card. In addition to Trimms' point, I have used rewards on both cards to pay for travel expenses and noticed one difference. With the Cap One card, I need to have the full amount in rewards to pay (or "erase" as they call it) a travel expense. With the Barclay card, I can apply whatever amount in rewards I have for a partial credit. So the Barclay card has more flexibility when using it for rewards.

winglessangel31
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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by winglessangel31 » Wed Nov 27, 2013 11:56 am

Trimms wrote:Another thing to think about with the Barclays Arrival card is the sign up bonus significantly offsets the annual fee (which is waived the first year). You get $400 for spending $1000 within 90 days. This along with a 2.2% effective cash back rate means I use this card for all spending apart from gas purchases. Focusing on the annual fee seems penny wise, pound foolish if you put all your purchases on the card.
What's your yearly expenditure on credit card purchases, minus gas?

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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by lhl12 » Wed Nov 27, 2013 12:56 pm

joppy wrote:
lhl12 wrote:Note that the Fidelity VISA, which gives 1.5% on the first $15,000 of charges and then 2.0% thereafter, is economically equivalent to a VISA card that gives unlimited 2.0% cash back beginning with the first dollar spent, but with a $75 annual fee.
No, it isn't economically equivalent. Lots of people spend less than $15k per year on their credit card, and would be worse off paying a $75 fee for a 2.0% card.

The Fidelity VISA is equivalent to a hypothetical VISA card that gives an unlimited 2.0% cash back, but with a fee that is 0.5% of your annual spending with a $75 fee cap.

- Joppy
Sorry - I left off the qualifier "if you spend more than $15,000/year on the card". You are of course correct for those who spend less than $15,000/year.

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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by crowd79 » Wed Nov 27, 2013 1:01 pm

Best cashback cards right now for my personal spending:

AMEX Blue cash: 6% groceries
Chase Freedom: 5% department stores
Citi Dividend: 5% gas & drugstores (mail flyer sign up)
Chase Sapphire Preferred: 2.14% restaurants & travel
Cap One 1.5% everywhere else

Trimms
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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by Trimms » Wed Nov 27, 2013 1:26 pm

The break even point for the 1.5% Cap One card vs the 2.2% Barclays card is around $11500 - if your yearly spend is above that then you are actually making more with the Barclays card despite the annual fee. I know I spend way more than that minus gas per year so the Barclays card makes sense for me. YMMV

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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by White Coat Investor » Thu Nov 28, 2013 1:21 am

animule wrote:Anyone out there have any experience with the Capital One Quicksilver credit card?

1.5% reward on all purchases, no limits. Outside of the 5% off on gas Penfed card and the 3% off on groceries American Express Blue Cash card, I don't have anything above 1%. This sounds attractive. I have three other cards with rotating categories, but more often than not, they are the same set of categories for the same quarter. And they never include college tuition.

http://www.capitalone.com/credit-cards/ ... h-rewards/

Thoughts?
How is this better than Fidelity AmEx?
1) Invest you must 2) Time is your friend 3) Impulse is your enemy | 4) Basic arithmetic works 5) Stick to simplicity 6) Stay the course

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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by Riceman » Thu Nov 28, 2013 7:14 am

EmergDoc wrote:
animule wrote:Anyone out there have any experience with the Capital One Quicksilver credit card?

1.5% reward on all purchases, no limits. Outside of the 5% off on gas Penfed card and the 3% off on groceries American Express Blue Cash card, I don't have anything above 1%. This sounds attractive. I have three other cards with rotating categories, but more often than not, they are the same set of categories for the same quarter. And they never include college tuition.

http://www.capitalone.com/credit-cards/ ... h-rewards/

Thoughts?
How is this better than Fidelity AmEx?
Fidelity Amex's foreign transaction fee is 3%, Quicksilver has none. This may or may not be relevant to the OP.

UpstateNY86
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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by UpstateNY86 » Thu Nov 28, 2013 8:14 am

You guys got me! Was looking for a decent rewards card as I have been using a reg card this past year. Approved for 5k!

snyder66
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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by snyder66 » Thu Nov 28, 2013 8:56 am

I get 2% on everything with a venture card. Not sure if the extra .55 is worth $60 a year

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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by FedGuy » Thu Nov 28, 2013 9:42 am

EmergDoc wrote:How is this better than Fidelity AmEx?
I use the Quicksilver card but not the Fidelity AmEx. I perceive the advantages of Quicksilver to be:

1) It's more universally accepted. There are a number of places in my neighborhood that don't take AmEx.
2) You don't need to have an account at Fidelity to get the cash back.
3) The cash back is pretty much automatic; no fussing around with converting points to dollars and all that.

True, I'd love to get the extra 0.5%, but the disadvantages of the Fidelity card just aren't worth it to me.

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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by Hat » Thu Nov 28, 2013 9:54 am

Riceman wrote:
EmergDoc wrote:
animule wrote:Anyone out there have any experience with the Capital One Quicksilver credit card?

1.5% reward on all purchases, no limits. Outside of the 5% off on gas Penfed card and the 3% off on groceries American Express Blue Cash card, I don't have anything above 1%. This sounds attractive. I have three other cards with rotating categories, but more often than not, they are the same set of categories for the same quarter. And they never include college tuition.

http://www.capitalone.com/credit-cards/ ... h-rewards/

Thoughts?
How is this better than Fidelity AmEx?
Fidelity Amex's foreign transaction fee is 3%, Quicksilver has none. This may or may not be relevant to the OP.
The Fidelity AMEX foreign transaction fee is 1%.
https://www.applyonlinenow.com/USCCapp/ ... =VABYFC#tc

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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by ddunca1944 » Thu Nov 28, 2013 9:59 am

snyder66 wrote:I get 2% on everything with a venture card. Not sure if the extra .55 is worth $60 a year
The Venture card gives 1.25%

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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by Cash » Thu Nov 28, 2013 10:37 am

FedGuy wrote:
EmergDoc wrote:How is this better than Fidelity AmEx?
I use the Quicksilver card but not the Fidelity AmEx. I perceive the advantages of Quicksilver to be:

1) It's more universally accepted. There are a number of places in my neighborhood that don't take AmEx.
2) You don't need to have an account at Fidelity to get the cash back.
3) The cash back is pretty much automatic; no fussing around with converting points to dollars and all that.

True, I'd love to get the extra 0.5%, but the disadvantages of the Fidelity card just aren't worth it to me.
Well, only your first point is actually a true difference...which is why I have the QuickSilver backup.

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Riceman
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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by Riceman » Thu Nov 28, 2013 11:07 pm

Hat wrote:
Riceman wrote:
EmergDoc wrote:
animule wrote:Anyone out there have any experience with the Capital One Quicksilver credit card?

1.5% reward on all purchases, no limits. Outside of the 5% off on gas Penfed card and the 3% off on groceries American Express Blue Cash card, I don't have anything above 1%. This sounds attractive. I have three other cards with rotating categories, but more often than not, they are the same set of categories for the same quarter. And they never include college tuition.

http://www.capitalone.com/credit-cards/ ... h-rewards/

Thoughts?
How is this better than Fidelity AmEx?
Fidelity Amex's foreign transaction fee is 3%, Quicksilver has none. This may or may not be relevant to the OP.
The Fidelity AMEX foreign transaction fee is 1%.
https://www.applyonlinenow.com/USCCapp/ ... =VABYFC#tc
My mistake. I was looking at the Fidelity Visa, not the Fidelity AMEX, even though the prior discussion was talking about the AMEX. But there was a reason for that; in my experience, VISA is accepted far more frequently than AMEX in foreign countries. My sample is all Asian countries, so this might be skewed, but I am seldom able to use my AMEX card.

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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by TX_TURTLE » Thu Nov 28, 2013 11:29 pm

It is best to keep more than one card. Quicksilver doesn't seem the best option available. I'm using:
1) Fidelity Visa for most day to day expenses (I easily exceed the 15,000/year threshold, so I expect more than 1.5% cash back)
2) Costco Amex at Costco (only card accepted), restaurants(2%), gas stations (3%), and every time I buy electronics (1% + one year free warranty extension)

If you don't spend more than 15,000/year you could still get the Fidelity Amex (2%) plus a Visa card for those places where Amex is not accepted.

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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by snyder66 » Fri Nov 29, 2013 6:47 am

Venture is definitely 2%, $59 a year fee.

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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by tj » Fri Nov 29, 2013 1:19 pm

Trimms wrote:Another thing to think about with the Barclays Arrival card is the sign up bonus significantly offsets the annual fee (which is waived the first year). You get $400 for spending $1000 within 90 days. This along with a 2.2% effective cash back rate means I use this card for all spending apart from gas purchases. Focusing on the annual fee seems penny wise, pound foolish if you put all your purchases on the card.

You still get the $400 if you cancel before the first year and don't pay a fee.

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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by Crimsontide » Fri Nov 29, 2013 8:30 pm

TX_TURTLE wrote:It is best to keep more than one card. Quicksilver doesn't seem the best option available. I'm using:
1) Fidelity Visa for most day to day expenses (I easily exceed the 15,000/year threshold, so I expect more than 1.5% cash back)
2) Costco Amex at Costco (only card accepted), restaurants(2%), gas stations (3%), and every time I buy electronics (1% + one year free warranty extension)

If you don't spend more than 15,000/year you could still get the Fidelity Amex (2%) plus a Visa card for those places where Amex is not accepted.
"It is best to keep more than one card.", really? Just curious why you would say that ?

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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by Texas hold em71 » Fri Nov 29, 2013 11:02 pm

Crimsontide wrote:
"It is best to keep more than one card.", really? Just curious why you would say that ?
If your main card is Amex (mine is), you'll find many merchants won't accept it. I have also had my number used in appropriately, caught by the credit card company and cancelled while the issued a replacement. Having another card was useful for that waiting period.

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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by Petunia » Sat Nov 30, 2013 6:55 pm

ddunca1944 wrote:Currently I have both the Barclays Arrival card and the Cap One Venture card. In addition to Trimms' point, I have used rewards on both cards to pay for travel expenses and noticed one difference. With the Cap One card, I need to have the full amount in rewards to pay (or "erase" as they call it) a travel expense. With the Barclay card, I can apply whatever amount in rewards I have for a partial credit. So the Barclay card has more flexibility when using it for rewards.
What is the advantage of "erasing" a purchase? Why not simply apply the rewards to your account balance? Doesn't it amount to the same thing?

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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by ddunca1944 » Sun Dec 01, 2013 10:27 am

Petunia wrote:
ddunca1944 wrote:Currently I have both the Barclays Arrival card and the Cap One Venture card. In addition to Trimms' point, I have used rewards on both cards to pay for travel expenses and noticed one difference. With the Cap One card, I need to have the full amount in rewards to pay (or "erase" as they call it) a travel expense. With the Barclay card, I can apply whatever amount in rewards I have for a partial credit. So the Barclay card has more flexibility when using it for rewards.
What is the advantage of "erasing" a purchase? Why not simply apply the rewards to your account balance? Doesn't it amount to the same thing?
Not the same thing. If I simply apply the rewards to my account balance, the reward is only 1%. To get the 2%, the rewards has to be targeted specfically to a travel expenditure (and Cap One makes the determination about qualifying expenditures)

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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by Petunia » Sun Dec 01, 2013 12:39 pm

ddunca1944 wrote:
Petunia wrote:
ddunca1944 wrote:Currently I have both the Barclays Arrival card and the Cap One Venture card. In addition to Trimms' point, I have used rewards on both cards to pay for travel expenses and noticed one difference. With the Cap One card, I need to have the full amount in rewards to pay (or "erase" as they call it) a travel expense. With the Barclay card, I can apply whatever amount in rewards I have for a partial credit. So the Barclay card has more flexibility when using it for rewards.
What is the advantage of "erasing" a purchase? Why not simply apply the rewards to your account balance? Doesn't it amount to the same thing?
Not the same thing. If I simply apply the rewards to my account balance, the reward is only 1%. To get the 2%, the rewards has to be targeted specfically to a travel expenditure (and Cap One makes the determination about qualifying expenditures)
I see. Thanks for the explanation. I don't have the Venture, but I do have the Quicksilver. When I redeem my rewards, I have noticed the option to "erase" a purchase, and I have wondered what that is about. I don't believe there is any incentive to "erase" with the Quicksilver.

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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by Alskar » Wed Jan 08, 2014 5:35 pm

lhl12 wrote:
Sunny Sarkar wrote:
animule wrote:Anyone out there have any experience with the Capital One Quicksilver credit card?
1.5% reward on all purchases, no limits.
Thoughts?
At 1.5% flat cash back, the Capital One Quicksilver is indeed the best VISA rewards card out there right now.
Not true. The Fidelity VISA gives 2.0% cash back on all purchases except for the first $15,000 annually, on which it gives only 1.50% cash back. So, if you charge less then $15,000/year then the Capital One Quicksilver card and the Fidelity VISA card are equivalent, but if you charge more than $15,000/year then the Fidelity VISA is superior. There is no configuration for which the Capital One Quicksilver card is superior to the Fidelity VISA card, so it is the Fidelity VISA card that is indeed the best VISA rewards card out there right now.
Actually, there are two versions of the Fidelity Visa Signature CC. The older Fidelity Visa Signature card that I have only offers 1.5% regardless of annual purchases. The newer Fidelity VISA Signature card is as lhl12 describes with 1.5% on the first $15K and 2% thereafter. In addition, there is no automatic redemption feature on the older card. I have to manually redeem the points. I've been told the newer card can be setup for automatic redemption.

I've decided to bench my Fidelity Visa Signature card in favor of the Quicksilver card. It has the same cashback as my Fidelity Visa card, but with easier redemptions and no foreign transaction fee. I will continue to use my Fidelity AMEX for the bulk of my CC purchases. I never get anywhere close to $15K/year on my Visa card.
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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by linenfort » Mon Jan 13, 2014 4:29 pm

Hah, it figures there is a dedicated thread on this card. It caught my eye today and I was considering applying for it.

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LH
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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by LH » Tue Jan 14, 2014 12:29 am

I used to have a fidelity cash back card, or maybe it was schwab, but then they killed it. Was kinda a hassle to open account, put money in it, then close account, etc.

How stable has the fidelity card been? has it been around for years?

Just signed up for capital one quicksilver.

thanks for tip,

LH

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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by RyeWhiskey » Tue Jan 14, 2014 1:21 am

I spent the past year investigating credit cards, the best combos, etc... and I have to say that the best single card is the Quicksilver card. I'll give a couple reasons:
- Easiest cash back redemption I've ever seen. Can redeem any amount at any time for statement credit or check. No points. No minimum redemption amounts. No holdovers. No other card comes close to the ease of redemption.
- Highest non-AMEX cash back on every purchase. You can earn way more cashback if you combo certain grocery/gas/restaurant cards but you have to carry them all and it's complicated. Other than the Fidelity 2% AMEX, this is the highest rewards on every single purchase that I can find.
- Not an AMEX. Sorry, but many places don't accept AMEX and you don't need to worry about that with this card.
- No foreign transaction fee. Just a nice bonus for those who travel.
- No annual fee. Because paying fees for credit cards doesn't seem very Boglehead-ish.

Just my thoughts. I carry this card for every purchase other than the following, my Costco AMEX (for Costco purchases and all gas purchases), and a debit card. That's all. :beer
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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by rj49 » Tue Jan 14, 2014 1:39 am

People always seem to overlook Discover, which keeps getting more generous and convenient, whereas others seem to get more stingy. I got 5% on any internet purchase the last quarter of 2013, one quarter they had 5% back on gas, and for the first quarter of this year I get 5% back on movies and restaurants. Plus they give additional at least 5% cash back for most major shopping sites, including Best Buy, Apple, and travel sites. There are no points to keep track of or devalue, and I link my Discover cash back to Amazon to use it for purchases there, with whatever cash back balance I have at the time. They also started a checking account program with 10 cents for every check, bill pay, or debit card purchase, with a $50 new account reward. Then I use a Penfed card for everything else, or even (gasp) cash to give additional support to local independent businesses.

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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by will98683 » Tue Jan 14, 2014 1:51 am

rj49 wrote:People always seem to overlook Discover, which keeps getting more generous and convenient, whereas others seem to get more stingy. I got 5% on any internet purchase the last quarter of 2013, one quarter they had 5% back on gas, and for the first quarter of this year I get 5% back on movies and restaurants. Plus they give additional at least 5% cash back for most major shopping sites, including Best Buy, Apple, and travel sites. There are no points to keep track of or devalue, and I link my Discover cash back to Amazon to use it for purchases there, with whatever cash back balance I have at the time. They also started a checking account program with 10 cents for every check, bill pay, or debit card purchase, with a $50 new account reward. Then I use a Penfed card for everything else, or even (gasp) cash to give additional support to local independent businesses.
+1 to Discover It. I used my It card to pay for my birthday party (which the attendees paid me back for) so I got my party, my money and 5% cash back as well!

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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by SpartanFan » Tue Jan 14, 2014 1:15 pm

Pretty funny. I just applied and was rejected.

Retired, excellent credit score, over 7 fig net worth, no debt, home and autos free and clear.

Never a late pmt on anything in 62 years.

Go figure ...
"There's a crack in everything, that's how the light gets in" - Leonard Cohen (RIP)

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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by ddunca1944 » Tue Jan 14, 2014 1:28 pm

tommoran2 wrote:Pretty funny. I just applied and was rejected.

Retired, excellent credit score, over 7 fig net worth, no debt, home and autos free and clear.

Never a late pmt on anything in 62 years.

Go figure ...
I'd check my credit reports. There's too much in the news lately about data breeches.... And it's not just Target and Neiman Marcus

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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by SpartanFan » Tue Jan 14, 2014 1:33 pm

ddunca1944 wrote:
tommoran2 wrote:Pretty funny. I just applied and was rejected.

Retired, excellent credit score, over 7 fig net worth, no debt, home and autos free and clear.

Never a late pmt on anything in 62 years.

Go figure ...
I'd check my credit reports. There's too much in the news lately about data breeches.... And it's not just Target and Neiman Marcus

Just checked it (www.creditkarma.com). Its 807
"There's a crack in everything, that's how the light gets in" - Leonard Cohen (RIP)

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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by Rob5TCP » Tue Jan 14, 2014 1:50 pm

I use the Capital one venture card which pays 2% (actually ends up being 1.92) by allowing you to pay for some of your travel purchases with it.
There is also a $59 annual fee. My breakeven point over 1.5% is $14,000, but with all the software I purchase, that is passed by April or May.
It ends up being $100 to $200 more per year than using the 1.5% card alternative.

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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by ajcp » Tue Jan 14, 2014 1:56 pm

tommoran2 wrote:
ddunca1944 wrote:
tommoran2 wrote:Pretty funny. I just applied and was rejected.

Retired, excellent credit score, over 7 fig net worth, no debt, home and autos free and clear.

Never a late pmt on anything in 62 years.

Go figure ...
I'd check my credit reports. There's too much in the news lately about data breeches.... And it's not just Target and Neiman Marcus

Just checked it (http://www.creditkarma.com). Its 807
Credit karma is not your credit report. It's a decent substitute, but it could miss something. Better yet, why did they say they rejected you?

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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by SpartanFan » Tue Jan 14, 2014 2:11 pm

They didn't say why. They said I would get a letter from them.
"There's a crack in everything, that's how the light gets in" - Leonard Cohen (RIP)

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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by ajcp » Tue Jan 14, 2014 3:13 pm

tommoran2 wrote:They didn't say why. They said I would get a letter from them.
Hmm, the letter should say why. If you wanted you could also call a reconsideration line and they would tell you or maybe even be able to approve you.

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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by linenfort » Tue Jan 14, 2014 4:34 pm

tommoran2 wrote:Pretty funny. I just applied and was rejected.
Retired, excellent credit score, over 7 fig net worth, no debt, home and autos free and clear.
Never a late pmt on anything in 62 years...
Maybe they know they won't make any money off you. ;-)
My sitch is similar to yours, except that I have a home equity loan (shrug). Instantly accepted today.

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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by ddunca1944 » Tue Jan 14, 2014 4:37 pm

ajcp wrote:
tommoran2 wrote:
ddunca1944 wrote:
tommoran2 wrote:Pretty funny. I just applied and was rejected.

Retired, excellent credit score, over 7 fig net worth, no debt, home and autos free and clear.

Never a late pmt on anything in 62 years.

Go figure ...
I'd check my credit reports. There's too much in the news lately about data breeches.... And it's not just Target and Neiman Marcus

Just checked it (http://www.creditkarma.com). Its 807
Credit karma is not your credit report. It's a decent substitute, but it could miss something. Better yet, why did they say they rejected you?
Does credit karma utilize all three reporting agencies?

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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by Geist » Tue Jan 14, 2014 5:04 pm

tommoran2 wrote:They didn't say why. They said I would get a letter from them.
When you get the letter, it will have instructions for getting a free credit report from the bureau they used in considering your rejection (per the Fair Credit Reporting Act). Likely, they saw "WHAAAAT?!? NO SALARIED INCOME?!?!? DENIED!!!" As AJCP said, you should just call them and ask them to reconsider with a full view of your financial picture. Often times, online applications are processed by a computer with a quick QC by a human, and letters are sent out. Just call them, and you should be able to get it taken care of.

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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by SpartanFan » Tue Jan 14, 2014 5:33 pm

Geist wrote:
tommoran2 wrote:They didn't say why. They said I would get a letter from them.
When you get the letter, it will have instructions for getting a free credit report from the bureau they used in considering your rejection (per the Fair Credit Reporting Act). Likely, they saw "WHAAAAT?!? NO SALARIED INCOME?!?!? DENIED!!!" As AJCP said, you should just call them and ask them to reconsider with a full view of your financial picture. Often times, online applications are processed by a computer with a quick QC by a human, and letters are sent out. Just call them, and you should be able to get it taken care of.
Yeah, that's kinda what I thought. No job. No income. Reject em ....

Oh well, no cash back for me. Prob not worth the trouble anyways.
"There's a crack in everything, that's how the light gets in" - Leonard Cohen (RIP)

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Re: Capital One Quicksilver: 1.5% reward, thoughts?

Post by ajcp » Tue Jan 14, 2014 6:17 pm

ddunca1944 wrote:
ajcp wrote:
tommoran2 wrote:
ddunca1944 wrote:
tommoran2 wrote:Pretty funny. I just applied and was rejected.

Retired, excellent credit score, over 7 fig net worth, no debt, home and autos free and clear.

Never a late pmt on anything in 62 years.

Go figure ...
I'd check my credit reports. There's too much in the news lately about data breeches.... And it's not just Target and Neiman Marcus

Just checked it (http://www.creditkarma.com). Its 807
Credit karma is not your credit report. It's a decent substitute, but it could miss something. Better yet, why did they say they rejected you?
Does credit karma utilize all three reporting agencies?
I believe it's just transunion. And even then, your ck score probably isn't your transunion score. It'll definitely be close enough, just not exactly the same. It's still a good tool, but you can get all 3 reports free from annualcreditreport.com (no scores though) once a year, so it's not a bad idea to check it and make sure everything is ok.

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