Capital One’s New Quicksilver Card Responds to Consumer Demand for Easy Cash

  Capital One’s New Quicksilver Card Responds to Consumer Demand for Easy Cash

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

Business Wire

MCLEAN, Va. -- June 26, 2013

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 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

Contact:

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