Our take: The Capital One Quicksilver Cash Rewards Credit Card is a solid card for those new in the credit card rewards space. The 1.5% cash back it earns isn’t terribly inspiring but also is much better than using a simple debit card for purchases.
Pros
- $0 annual fee
- Simple earning structure with no complicated categoriesÂ
- No foreign transaction fees
Cons
- No earning or redeeming sweet spots
- No bonus categories for outsized value
- Extra perks are lacking
Capital One Quicksilver Rewards Card Highlights
Card type: Cash back
- Welcome bonus: $200 cash bonus for making total purchases of $500 or more within the first 3 months after opening
- Annual fee: $0
- Rewards: 5% cash back on hotels and rental cars booked through Capital One Travel, plus an unlimited 1.5% cash back on every other purchase
Overview
If “cash is king” is your mantra, then this card is going to be right up your alley. Offering an uncomplicated 1.5% cash back on all purchases, you won’t have to worry about picking the wrong card at a restaurant or for an airline purchase. Every time you use the card, you’ll earn a straight 1.5% cash back. Your cash back won’t expire so long as you have the card and you can redeem it for any amount you’d like.
If you travel overseas and don’t want to have to worry about getting foreign currency to pay wherever you go, this card helps by avoiding all those pesky foreign transaction fees. Just use the card like you would here in the states and you won’t see any additional charges come your way.
With that said, if you are willing to stretch a little bit and learn about bonus categories, card benefits, and more, you might benefit from a card that earns a flexible and transferable currency so you can decide to get cash back or airline miles for all of your purchases.
Who is the Quicksilver Cash Rewards Card good for?Â
The Quicksilver Cash Rewards Card is good for someone who doesn’t want to have to worry about an annual fee and whose monthly or annual spending wouldn’t justify an annual fee card with higher rewards.
You’ll have all of the benefits that a credit card can provide such as security alerts, virtual card numbers, travel accident insurance and concierge services. As an added bonus, if you live near a Capital One Cafe you can even get 50% off a beverage every day when you use your Quicksilver Cash card as payment.
Who shouldn’t get the Quicksilver Cash Rewards Card?Â
Anyone who is willing to put the time and effort into maximizing the benefits of a premium travel card would benefit from one of those cards instead of a straight cash back card. Also, this card is light on additional features that other cards provide. If you’re OK with paying annual fees in exchange for airline miles, hotel points, lounge access and more, then look elsewhere.
Capital One Quicksilver Cash Rewards: How to earn rewards
With this card you’ll earn a straightforward 1.5% cash back on all purchases with no upper limit. You can redeem your cash back balance via three methods. Capital One will give you a statement credit or send you a check in the mail, you can use the rewards to offset a recent purchase, or you can redeem it for gift cards for yourself or for a friend or family member.
When you sign up for the card and you’re approved, you’ll have 3 months to spend $500. If you reach that limit, you’ll earn a $200 welcome bonus which can be applied in any of the above methods.
The card’s one and only bonus category is by using the Capital One travel portal. If you book hotels and rental cars through the portal your 1.5% cash back is bumped up to 5%, giving you a strong return on what can be a large chunk of your vacation budget.
How to redeem Capital One Quicksilver Cash Rewards rewards
Because this is a cash back card, the rewards are limited to cash back being paid out in various methods. Those include receiving a check, getting a statement credit or applying your rewards toward purchases. Besides the three methods mentioned above, there are two other options for you to utilize your rewards.
If you use PayPal to pay online, and you link your Capital One card to your PayPal, the option will appear at checkout to use your Capital One Rewards right at the checkout screen. The same option appears at Amazon as well. Simply add your Capital One card and choose the option to link your rewards account. When you’re checking out, you’ll see the option to use your rewards balance instead of the card. The good news is that you’ll earn the same redemption rate as with cash back.
Capital One Quicksilver Cash Rewards rates and fees
- Intro APR: 0% intro APR for 15 months on purchases and balance transfers (19.99%–29.99% variable APR after that), 4% fee for balance transfers
- Purchase APR: 19.99%–29.99% Variable, based on your creditworthiness
- Annual fee: $0
- Foreign transaction fee: none
Additional benefits
- Uber One Membership – get 6 months of free Uber One membership
- $0 fraud liability
- Capital One Dining – exclusive access to hard-to-snag restaurants
- Capital One Entertainment – ticket pre-sales and suite experiences
- Price Drop Protection – if you book airline tickets via Capital One Travel and your flight drops within 10 days get up to $50 back
Credit Cards similar to the Quicksilver Cash Rewards Card
Chase Freedom Unlimited vs. Quicksilver Cash Rewards Card
On the surface the Chase Freedom Unlimited® card looks pretty similar to the Quicksilver Cash Rewards. Both cards have a welcome bonus, both cards offer 1.5% cash back on all eligible purchases, and both cards offer the same 0% introductory APR on purchases and balance transfers.
The Chase Freedom Unlimited shines in the rewards department since in addition to the 1.5% cash back on all eligible purchases you’re also earning 3% cash back on drugstore purchases and 3% cash back on dining (including takeout and eligible delivery service), along with 5% cash back on travel purchased through Chase Ultimate Rewards.
Citi® Double Cash Card vs. Capital One Quicksilver Cash Rewards
The Citi® Double Cash Card earns 1% back when you make a purchase and 1% back when you pay it off, resulting in “double cash” or a 2% earning structure. There are no bonus categories just like the Quicksilver card, and you’ll also earn 5% cash back through the Citi travel portal, just like the Capital One portal.
The card offers a slightly longer introductory 0% APR on balance transfers, but no introductory period on purchases, making this a good card to move high interest rate charges but not great if you have large purchases coming up.Â
Amex Blue Cash Everyday vs. Quicksilver Cash Rewards Card
While on the surface, the 1% cash back offered by the Blue Cash Everyday® Card from American Express card may seem like a downside, the card does come with a wide range of bonus categories that, depending on your spending, might allow you to earn more over the long term.
You’ll earn 3% back on the first $6,000 in purchases every year at grocery stores, gas stations, and online retailers. That’s $180 in a year if you max out these categories. You’ll also get monthly statement credits toward the Disney Plus bundle and $15 a month for Home Chef food delivery services.Â
Stack all of these with Amex Offers, a discount program where you can automatically earn discounts for your everyday purchases, and you’ll see that you might just earn more using this card instead.
Is Capital One Quicksilver Cash Rewards right for you?
This card deserves a place in your wallet if the simple thought of bonus categories, airline miles, and monthly statement credits gives you a headache. If you want a simplified, streamlined, 1.5% flat across the board with a few small bells and whistles, then this card makes perfect sense.
Frequently asked questions
What information do I need to apply for the Quicksilver Rewards card?
As with all credit card applications, you’ll need to make sure to have your legal name, full income, address, date of birth, and other personal information that they’ll ask for. Your application might go under review if some of the information isn’t correct, so make sure to have all the correct info from the start.
Is the Quicksilver Cash Rewards card a good credit card?
The Quicksilver Cash Rewards card is a great option for those people looking to start their credit card rewards journey, and it comes baked in with a lot of benefits just like other cards. The only reason you might want to look elsewhere is if you’re looking for more options in redeeming your rewards for travel.
How can I get the most value out of the Quicksilver Rewards card?
If you’re accustomed to using your debit cards for more of your purchases, start using this card right away. With that said, you’ll want to make sure to pay your card off on time as the interest charges can outweigh the potential rewards that you’ll earn very quickly. Don’t spend more than you can pay on a monthly basis.
Consider using your card to book hotels and rental cars through the travel portal to earn 5% cash back. This can help you start your vacation off on the right foot, netting a big discount right from the start.
Please note that card details are accurate as of the publish date but are subject to change at any time at the issuer’s discretion. Before applying, please contact the card issuer to verify rates, fees, and benefits.
The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.
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