Capital One Quicksilver Cash Rewards Credit Card: Review
Is the Quicksilver Cash Rewards Card worth it?
The Capital One Quicksilver Cash Rewards Credit Card may be worth it if you value simple, straightforward cashback rewards. This card offers rewards with no annual fee, which means if you pay off your balance every statement cycle and avoid other fees, the cashback you earn is like money in your pocket.
This Capital One credit card offers the biggest benefits for those who travel regularly and are willing to book hotel and car rentals through Capital One Travel. An easy-to-earn sign-up bonus and some introductory APR offers also make this card a strong financial tool for those looking to balance credit use with savings and plans to pay off debts quickly.
Capital One Quicksilver Card: Highlights
- The Quicksilver card has no annual fee.
- Cardholders can earn 1.5% cash back on every purchase and 5% back on hotels and rental cars booked through the Capital One Travel portal.
- New cardholders can earn a $200 cash bonus after spending $500 within the first 3 months.
- The Capital One Quicksilver card has no foreign transaction fees.
- The flat rate rewards make it easy to earn cash back, but if you spend highly in certain categories, another card may be more worthwhile.
Who is the Quicksilver Cash Rewards Card best for?
The Capital One Quicksilver Cash Rewards Credit Card is ideal for individuals who prefer a simple, no-fuss cash-back card. It’s best for those who want to earn rewards without keeping track of bonus categories or worrying about an annual fee. It’s also a solid card for international use, as it has no foreign transaction fees.
Capital One Quicksilver Cash Rewards Credit Card: Rewards
Earning rewards
The Capital One Quicksilver Cash Rewards Credit Card earns:
- Unlimited 1.5% back on every purchase
- Unlimited 5% back on hotels and rental cars booked through Capital One Travel
Redeeming rewards
You can redeem cash rewards as a statement credit or a check. To do this, you’ll have to make a request via your online account or by calling the customer service number on your credit card. The exception is if you set up automatic redemptions.
In your Capital One mobile app or online portal, you can set rules for automatically redeeming your cashback. You can decide to have all cashback accrued redeemed at a certain point in the year or when your reward amount crosses a minimum threshold.
PayPal account holders may also be able to link their Capital One account to their PayPal account and use rewards to pay for goods via PayPal.
Welcome offer
New Quicksilver cardholders can earn $200 after spending $500 in the first 3 months after account opening.
▶︎ See our picks: Best credit card sign up bonuses
Capital One Quicksilver Cash Rewards Credit Card: Benefits
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Extended warranty protection. When you purchase products with your Capital One Quicksilver card, you get the benefit of extra warranty protection. This may extend your protection beyond the standard manufacturer’s warranty without you having to buy an extended warranty at the register.
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Concierge services. Call the Capital One concierge hotline as a cardholder to get assistance with travel, entertainment and dining recommendations and bookings.
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Travel services and accident insurance. Capital One offers 24-hour services to help you get a replacement card if yours is stolen or lost when you’re traveling. When you purchase travel fare with your card, you also get access to automatic travel coverage if you experience an accident-related loss during the trip.
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Capital One Shopping. As a cardholder, you can implement this online tool to help you find the best deals on products and services online.
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Capital One Travel portal. You can book travel through Capital One’s portal and have peace of mind about your trip costs. Capital One constantly looks for the best deals and may even retroactively adjust prices to give you a better deal after you book.
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Capital One dining and entertainment access. Cardholders get early and VIP access to a number of entertainment and dining opportunities. You may be able to leverage your card to get reservations at a location you would miss out on otherwise.
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$0 fraud liability. The Capital One $0 fraud liability policy protects you from being on the hook for fraudulent charges if your card or card number is stolen.
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Card lock and CreditWise. The card lock feature lets you lock down your card and numbers in the mobile app to keep others from using it if you believe your card is misplaced. You also get access to CreditWise, which proactively notifies you of changes to your credit report and helps you understand your FICO score.
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Help from Eno. Capital One’s digital assistant will notify you of unexpected or odd charges so you can proactively protect your account. You can also use a chat feature to get account updates from Eno quickly.
Capital One Quicksilver Cash Rewards Credit Card: The fine print
Fees
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Annual fee: $0
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Foreign transaction fee: None
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Late payment fee: Up to $40
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Cash advance fee: $5 or 5% of the cash advance, whatever is greater.
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Balance transfer fee: 3% during the first 15 months, then 4% at a promotional APR that Capital One may offer you at any other time.
Interest rates
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Regular APR: 19.99% to 29.99% variable
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Cash advance APR: 29.99% variable
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Intro APR offer: 0% introductory APR on purchases and balance transfers for the first 15 months
Credit limit
Capital One bases credit limits on various factors, including the income and credit history of the applicant. In general, the minimum credit limit offered via this card is $750. Individuals with excellent credit histories and the right financial situation may qualify for credit limits as high as $10,000.
As with most other credit cards, you aren’t necessarily stuck with the credit limit you’re initially approved for. Manage your account responsibly, make all payments on time and then reach out in six months to a year to ask whether you can be considered for a credit limit increase.
Capital One Quicksilver Cash Rewards Credit Card: Drawbacks
Low reward rate
While the unlimited 1.5% back on everything is okay, it could be better. Some cards offer a flat rate of 2% back while others offer more bonus categories for earning rewards. If you spend a lot at the grocery store or at restaurants, for example, the Capital One SavorOne Cash Rewards Credit Card earns 3% back in both of those categories and up to 10% back in other categories. If your spending is varied, the Quicksilver may be a good option, but if you can nail down a few specific spending categories, a different card may reward you even better.
▶︎ See our picks: Best rewards credit cards
Few partner benefits
A lot of credit cards, and even others with no annual fee, offer various high-value partner benefits to help further increase the value of your card. The Quicksilver card falls a bit flat. It has up to 6 months of complimentary Uber One membership through 11/14/2024, but that’s about it. Some people don’t even realize or care that their card has partner benefits, and if you’re in that demographic perhaps this doesn’t bother you. But if you like the idea of statement credits or free memberships, a different card may be more up your alley.
How Capital One Quicksilver compares
Capital One Quicksilver Cash Rewards Credit Card vs. Capital One SavorOne Cash Rewards Credit Card
The Capital One SavorOne Cash Rewards Credit Card is another option to consider. It also offers the $200 welcome bonus after you spend $500 in the first three months, doesn’t have an annual fee and includes introductory APR offers.
One of the main differences between the Quicksilver Cash Rewards and SavorOne Cash Rewards cards is how you accumulate cash back.
The Quicksilver card lets you earn 1.5% on everyday purchases and 5% on hotels and rental cars booked through Capital One’s portal. With the SavorOne Cash Rewards card, you earn 1% on everyday purchases and 3% on dining, grocery store spending (excluding superstores like Walmart and Target), streaming service fees and qualifying entertainment expenses. If you want to maximize cash back but don’t travel a lot, the SavorOne card might be a better choice.
▶︎ Read more: Capital One SavorOne Cash Rewards Credit Card review
Capital One Quicksilver Cash Rewards Credit Card vs. Chase Freedom Unlimited®
Both the Chase Freedom Unlimited® card and the Capital One Quicksilver Cash Rewards Credit Card have no annual fee, 5% back on eligible travel, and a fallback rate of 1.5%. The Freedom Unlimited may shine a bit more brightly, however, since it also earns 3% cash back on drugstore purchases and dining at restaurants (including takeout and eligible delivery services).
On top of that, Freedom Unlimited also offers 3 months of free Instacart+ and a free 3-month DashPass subscription, potentially more valuable than Quicksilver’s up to 6 months of Uber One. A lot of that will depend on which services you can benefit from more.
▶︎ Read more: Chase Freedom Unlimited® review
Should I get the Capital One Quicksilver Cash Rewards Credit Card?
If you value simple cash back rewards, don’t want to pay an annual fee, and have a good to excellent credit score, the Capital One Quicksilver Card may be a good fit for you. However, if you’d prefer to earn rewards more generously and are willing to keep track of bonus categories, another card could easily provide more value.
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