New Quicksilver Cash Rewards Card Offers 1.5% Cash Back On Every Purchase, Every Day Without Complicated Restrictions and Category Caps

MCLEAN, Va.--(BUSINESS WIRE)--Jun. 26, 2013-- Capital One Financial Corporation (NYSE: COF) today announced the launc h 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 2012.

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

Source: Capital One Financial Corporation

Capital One Financial Corporation
Sukhi Sahni, 703-720-2390
sukhi.sahni@capitalone.com