Capital One Quicksilver Cash Rewards Credit Card Review

Capital One Quicksilver Cash Rewards Credit Card Review: Simple, Reliable, and Rewarding

The Capital One Quicksilver Cash Rewards Credit Card is an ideal choice for those seeking simplicity with no annual fee and solid cash back rewards. With this card, you can earn unlimited 1.5% cash back on every purchase, every day, making it an attractive option for everyday spending. It’s a flat-rate cash back card that offers a stress-free approach to rewards, perfect for those who don’t want to juggle categories or track spending limits. This Capital One rewards card also comes with a valuable sign-up bonus, a 0% intro APR on purchases and balance transfers for 15 months, and a variety of additional perks.

Overview of the Capital One Quicksilver Cash Rewards Credit Card

When it comes to cash back credit cards, the Capital One Quicksilver Cash Rewards credit card stands out as a simple, easy-to-use option. With no annual fee, unlimited 1.5% flat cash back, and no foreign transaction fees, this card delivers consistent rewards without the need for tracking rotating categories. It’s designed for people who want to earn rewards without the hassle.

Key Features of Capital One Quicksilver:

• 1.5% unlimited cash back on every purchase, every day.
• $200 sign-up bonus after spending $500 in the first 3 months.
• 0% intro APR on purchases and balance transfers for the first 15 months.
• No annual fee for cardholders.
• No foreign transaction fees for international purchases.
• Balance transfer fee: 3% for transfers within the first 15 months.
• Variable APR after intro period: 19.24% – 29.24%, based on creditworthiness.
• Earn 5% cash back on travel bookings through Capital One Travel.
• Rewards redemption: Apply as statement credits, gift cards, PayPal, or for travel.
• Good credit (690+) required for approval.
• Simple rewards structure: No rotating categories or sign-ups needed.
• Flexible redemption options: No minimum redemption required.

Rates and Fees

• Annual Fee: $0, no annual charge for cardholders.
• Sign-up Bonus: $200 after spending $500 in the first 3 months.
• Intro APR: 0% for the first 15 months on purchases and balance transfers.
• Ongoing APR: 19.24% – 29.24% Variable APR after the intro period.
• Balance Transfer Fee: 3% for transfers made within the first 15 months.
• Cash Advance Fee: 5% of the amount (min. $5) for cash advances.
• Foreign Transaction Fees: $0 for purchases made outside the U.S.
• Late Payment Fee: Up to $40 for missed payments.
• Returned Payment Fee: Up to $40 for returned payments.
• Minimum security deposit: none.
• Chip card: Yes.
• Contactless payment: Yes.
• Travel insurance: No.
• Purchase protection: Yes.
• Extended warranty: yes.
• Credit Limit: Your credit limit of $750, as high as $10,000, will be determined based on your credit score and financial history.

See Rates and Fees

Why Choose the Capital One Quicksilver Cash Rewards Credit Card?

The Capital One Quicksilver Cash Rewards Credit Card is ideal for people who prefer simplicity over complex bonus categories or high-maintenance rewards programs. Here’s why it could be the right card for you:

• Simple Rewards: With 1.5% flat cash back on all purchases, you don’t need to worry about tracking categories or remembering when to activate bonus offers.
• Sign-up Bonus: New cardholders can earn a $200 bonus after spending $500 in the first 3 months. This is a solid bonus for a no-annual fee card.
• 0% Intro APR: Enjoy 0% intro APR on purchases and balance transfers for the first 15 months. This can save you money on interest if you need to carry a balance or transfer high-interest debt from another card.
• No Annual Fee: Many cash back credit cards charge an annual fee, but with Capital One Quicksilver, you can earn rewards without any yearly cost.
• No Foreign Transaction Fees: You won’t be hit with foreign transaction fees when using your card abroad, making it a great option for international travelers.

Rewards and Cash Back

The Capital One Quicksilver Cash Rewards Credit Card earns an unlimited 1.5% cash back on all purchases. This flat rate makes it easy to accumulate rewards without having to worry about specific spending categories. You can use your rewards for statement credits, gift cards, or even PayPal transactions. There’s no minimum redemption requirement, meaning you can use your rewards at any time and for any amount.

Moreover, if you book travel through Capital One Travel, you can earn 5% cash back on hotel and rental car bookings. While this is limited to travel bookings, it’s a great perk for those who frequently use Capital One’s travel portal.

How to Redeem Capital One Quicksilver Rewards

You can redeem your rewards in several flexible ways:

• Statement Credit: Apply your cash back directly to your bill.
• Gift Cards: Redeem for gift cards at popular retailers.
• PayPal: Transfer your rewards to your PayPal account.
• Travel: Use your rewards for travel bookings through Capital One Travel.

There’s no minimum redemption amount, so you can redeem rewards whenever you want, no matter how small the amount.

0% Intro APR on Purchases and Balance Transfers

One of the standout features of the Capital One Quicksilver Cash Rewards Credit Card is its 0% intro APR for the first 15 months. This applies to both purchases and balance transfers. After the intro period ends, a variable APR of 19.24% to 29.24% applies, depending on your creditworthiness.

If you have an existing balance on a high-interest card, transferring it to the Capital One Quicksilver card could save you a significant amount of money in interest. However, keep in mind that there is a balance transfer fee of 3% for transfers made during the introductory period.

How to Maximize Your Rewards with the Capital One Quicksilver Card

To make the most of your Capital One Quicksilver Card, use it as your primary card for everyday purchases or pair it with a bonus category card. You can use the Quicksilver card for non-bonus category purchases to earn a consistent 1.5% cash back. For a hands-off approach, set your account to autopay, but be sure to monitor your account to avoid interest or late fees. Remember to spend $500 within the first three months to earn the sign-up bonus.

The card is also great for financing large purchases with its 15-month 0% intro APR offer. After this period, a variable APR of 19.24% – 29.24% applies. To prevent high-interest charges, pay off your balance in full each month.

Traveling abroad? Use your Quicksilver card without worrying about foreign transaction fees. It’s perfect for international purchases, whether on foreign websites or in person.

You can also use CreditWise, Capital One’s free tool, to track and improve your credit score. For additional rewards, pair your Quicksilver card with the Capital One Savor Cash Rewards Credit Card to earn extra cash back on dining and entertainment purchases. This combination can maximize your rewards, giving you the most value for your spending.

Here are a few tips to maximize rewards with Capital One Quicksilver

1. Use the card for all your daily purchases: With the unlimited 1.5% flat cash back, you can earn rewards on everything from gas to groceries.
2. Pair it with a tiered rewards card: If you also have a card that earns higher rewards on certain categories (like groceries or dining), use the Capital One Quicksilver for everything else to earn a steady 1.5% cash back.
3. Take advantage of the travel benefits: Book hotels and rental cars through Capital One Travel to earn 5% cash back.

How Does the Quicksilver Compare to Other Cards?

If you’re looking for a simple and reliable cash back rewards card, the Capital One Quicksilver Cash Rewards Credit Card might be the perfect choice. With a straightforward 1.5% cash back on every purchase, it’s an easy-to-use card for those who want consistent rewards without any complicated terms. However, other cards like the Chase Freedom Unlimited®, Citi Double Cash® Card, and Discover it® Cash Back may offer higher potential rewards in specific categories. Here’s a comparison of how the Quicksilver stacks up against these popular cards.

Comparison: Capital One Quicksilver vs Chase Freedom Unlimited vs Citi Double Cash vs Discover it Cash Back

• Chase Freedom Unlimited®: Earn 5% on travel through Chase, 3% on dining and drugstores, and 1.5% on all other purchases. It has a $0 annual fee and an additional 1.5% cash back on everything for the first year (up to $20,000).
• Citi Double Cash® Card: Earn 2% cash back on every purchase—1% when you buy and 1% when you pay. Also, no annual fee and a $200 bonus after spending $1,500 in 6 months.
• Discover it® Cash Back: Earn 5% on rotating categories each quarter (up to $1,500), and 1% on all other purchases. There’s no annual fee and a unique Cashback Match feature at the end of your first year.

In summary, the Capital One Quicksilver Cash Rewards Credit Card stands out for its simplicity with 1.5% flat cash back on all purchases. However, cards like the Chase Freedom Unlimited® and Citi Double Cash® may offer higher rewards in specific categories. For those who don’t mind rotating categories, Discover it® Cash Back can be a great option too, especially with its Cashback Match for new cardholders. Each card has its own set of perks, so the best one depends on your spending habits.

Capital One Quicksilver vs. QuicksilverOne: Which Card is Right for You?

The Capital One Quicksilver and QuicksilverOne cards share a similar 1.5% cash back rate on every purchase, but they target different consumer groups. If you’re confused between the two, it’s essential to understand how they differ in terms of credit score requirements, fees, and additional benefits.

Capital One Quicksilver vs. QuicksilverOne: Which Card is Right for You?

If you have a good credit score, the Capital One Quicksilver is the better choice, thanks to its $0 annual fee and sign-up bonus. However, the QuicksilverOne could be a good option if you’re just starting to build or rebuild your credit. While it comes with a higher fee and no sign-up bonus, responsible use can help you eventually upgrade to a better card like the Quicksilver.

Why You Might Get the Capital One Quicksilver Card?

The Capital One Quicksilver Card is an excellent option for those who prefer cash back over credit card points. It offers a straightforward rewards program with a flat 1.5% cash back on every purchase, making it one of the simplest cash back cards available.

Unlike cards with rotating categories, the Quicksilver card allows you to earn a high rate of cash back on all purchases without the hassle of tracking specific categories. If you already have a bonus category card, the Quicksilver card can be a great addition, offering steady rewards on general purchases.

Additionally, the card comes with no annual fee and no foreign transaction fees, making it both affordable and convenient, especially for international travelers. Overall, the Capital One Quicksilver Card is a great choice for anyone looking for a simple, no-annual-fee card with solid cash back rewards.

Capital One Quicksilver Cash Rewards Credit Card Application process

Capital One offers a pre-qualification tool on its website. This doesn’t guarantee approval, but it can give you an idea of your chances without impacting your credit score.

Eligibility Criteria 

• Credit Score: Generally requires good-to-excellent credit, meaning a FICO score of at least 690.
• Age: Must be at least 18 years old.
• Residency: Must be a U.S. citizen or permanent resident.
• Income: There is no minimum income requirement, but sufficient income to make payments is necessary.
• Employment: Not a requirement, but having a steady income source improves your chances.
• Social Security Number (SSN): Required for application.
• No recent bankruptcies: Open bankruptcy or recent discharges can disqualify you.

Application process

You can apply for the Capital One Quicksilver Cash Rewards Credit Card online, over the phone, or by mail. The online application is the quickest and easiest option. You’ll need to provide:

• Personal information: Name, address, date of birth, Social Security number or ITIN
• Employment information: Employer name, income, employment status
• Financial information: Housing costs, other debts

Approval process

Capital One uses a variety of factors to determine your eligibility for the card, including:

• Credit score: This is a major factor, with higher scores increasing your chances of approval.
• Income: Sufficient income to make payments is crucial.
• Debt-to-income ratio: Lower ratios are generally preferred.
• Employment history: Stable employment demonstrates creditworthiness.
• Credit history: recent delinquencies or bankruptcies can lead to denial.

When applying for the Capital One Quicksilver card, you may receive an instant approval decision online. If further review is needed, Capital One might request additional documents or verification, which can take several days or weeks. If your application is denied, you’ll receive a notification explaining the reason for the denial. In the case of instant approval, you’ll know immediately, while decisions made by mail may take up to 30 days, as required by law. If approved, you can expect to receive your card within 7-10 business days, but if denied, no card will be issued.

Contact Information

• Customer support: 1-800-CAPITAL (227-4825) / 1-877-383-4802
• Contact Online: Capital One Website

Conclusion

The Capital One Quicksilver Cash Rewards Credit Card is an excellent choice for those looking for a no annual fee credit card that offers straightforward rewards. With its 1.5% flat cash back on every purchase, solid sign-up bonus, and valuable 0% intro APR on purchases and balance transfers, it’s a solid option for both everyday spenders and those who need to manage large purchases or debt transfers.

Whether you’re looking for a reliable cash back card for daily spending, a way to save on interest with 0% APR, or a travel-friendly card with no foreign transaction fees, the Capital One Quicksilver Cash Rewards Credit Card has something to offer.