Updated December 28, 2017
Capital One® Quicksilver® Cash Rewards Credit Card rivals competing Swiss Army knife-style credit cards that attempt to match many cardholders needs in one, including unlimited 1.5% cash back. These are a few reasons why we rank it as one of the best cash-back credit cards. So let’s dive deeper and see whether Capital One® Quicksilver® Cash Rewards Credit Card is a good fit for you.
- $150 sign-up bonus
- Unlimited 1.5% cash back
- No foreign transaction fee
- 0% intro APR
- No bonus cash-back categories
- Short 0% intro APR offer
|Bonus Offer||$150 Cash Back after you spend $500 on purchases within 3 months from account opening|
Intro: 0% intro on purchases for 9 months
Reg: 14.24% - 24.24% (Variable)
|Balance Transfer APR||
Intro: 0% intro on balance transfers for 9 months
Reg: 14.24% - 24.24% (Variable)
- One-time $150 cash bonus after you spend $500 on purchases within 3 months from account opening
- Earn unlimited 1.5% cash back on every purchase, every day
- Use your Quicksilver card and get 50% back as a statement credit on your monthly Spotify Premium subscription, now through April 2018
- No rotating categories or sign-ups needed to earn cash rewards; plus, cash back won't expire for the life of the account and there's no limit to how much you can earn
- 0% intro APR on purchases for 9 months; 14.24%-24.24% variable APR after that
- Balance transfers also have a 0% intro APR for 9 months; 14.24%-24.24% variable APR after that; a 3% fee applies to each balance transferred
- Pay no annual fee or foreign transaction fees
What we like about Capital One® Quicksilver® Cash Rewards Credit Card
- $150 sign-up bonus - Qualifying cardholders earn a sign-up bonus of $150 after spending $500 on purchases within three months of account opening.
- Unlimited 1.5% cash back – Managing rewards for some credit cards can be burdensome, with having to optimize a wallet packed with cards for specific purchases or having to opt in to rotating bonus categories quarterly. That’s not the case with this card, which offers unlimited cash back on all purchases.
- Easy cash-back redemption – Rewards don’t expire, and redemptions can be redeemed for any amount at any time. Simply open the app or go online to request a check or a statement credit.
- No foreign transaction fee – Foreign transaction fees can quickly add up when whipping out credit cards for purchases abroad. Besides, we’re all a bit looser with our budgets while on vacation. Fortunately, the card nixes the typical 3% foreign transaction fee many card issuers charge. That’s a savings of $60 on $2,000 worth of international spending!
- 0% intro APR – Capital One® Quicksilver® Cash Rewards Credit Card could be a good solution for indebted cardholders wanting to pay down debt faster people looking to defray the upfront costs for a large purchase. The card includes a 0% intro APR for 9 billing cycles for both purchases and balance transfers. A standard 3% fee is charged for each transfer within the first 9 billing cycles.
What could be improved for Capital One® Quicksilver® Cash Rewards Credit Card
- Longer 0% intro APR – We admire Capital One for including an intro promo, but we feel obligated to mention that competing 1.5% cash-back cards are
available with longer offers. For example, if paying down
debt is the main priority and you have at least good credit, we suggest reviewing
our picks for the best
balance-transfer credit cards.
How to best use Capital One® Quicksilver® Cash Rewards Credit Card
- Cash-back and rewards cardholders will generally be better off paying balances by the due date each month to avoid interest charges. It’s a losing strategy to rack up debt for the sake of earning rewards at single-digit rates only to watch as they get eaten up by far higher double-digit interest charges.
- Transfer high-interest credit card debt to chip away at debt balances faster. We Fools always encourage smart use of debt, and transferring balances to a 0% intro APR card can help avoid costly interest charges. In fact, paying down a hypothetical $5,000 balance over 9 months will cost $343 in interest charges at an 18% APR.
- Consider using another bonus-category card in tandem with this card to improve overall cash-back rewards. More overall rewards can be earned using a bonus cash-back card for bonus-category purchases along with a 1.5% yielding cad-back card for all other needs. Review our picks for the best cash-back credit cards for some cards offering bonus cash back.
Capital One® Quicksilver® Rewards vs. Capital One® Venture® Rewards: Which Is better?Cardholders seeking travel rewards instead of cash back, and those who spend more than $19,000 on credit cards annually, might be better off with Capital One® Venture® Rewards Credit Card, which offers travel redemptions equivalent to a 2% yield, as well as a bigger new cardholder bonus. Qualifying requires cardholders spend $3,000 within three months to earn 50,000 miles -- worth $500 when redeemed for travel, or $250 cash back.
Number crunchers following along might ask “Why $19,000?” That’s the spending threshold where the $95 annual fee (waived the first year) for Capital One® Venture® Rewards Credit Card is offset when looking at the different rewards rates of both cards.
The math follows as such: $95 ÷ (0.02 – 0.015) = $19,000.
If you spend less than that amount, or don’t need rewards for travel redemptions, you may be better off with Capital One® Quicksilver® Cash Rewards Credit Card. Of course, there are other factors to consider, so read our full Capital One® Venture® Rewards Credit Card review to learn more and uncover why we picked it as one of the best travel credit cards.
How to earn up to 3% cash backCapital One® Quicksilver® Cash Rewards Credit Card falls short in bonus cash-back categories, whereas Bank of America® Cash Rewards offers more rewards in other spending categories. Bank of America® Cash Rewards earns 3% bonus cash back for gas and 2% for groceries and warehouse clubs (both on the first $2,500 of combined bonus spending quarterly), plus 1% on all other purchases. Bank of America® Cash Rewards also includes a $0 annual fee and a lucrative $150 cash rewards bonus after spending $500 in the first 90 days, on top of giving existing Bank of America banking Preferred Rewards members up to 75% bonus rewards. This is one example of a two-card combination where rewards can be increased by using a bonus cash-back card in bonus categories and Capital One® Quicksilver Rewards for all other purchases, plus two sign-up bonuses. See our full Bank of America® Cash Rewards review to uncover why we think it’s one of the best credit cards of 2017.
A longer 0% intro APR offerOther cash-back cards sport longer 0% APR promo periods. Enter Chase Freedom UnlimitedSM, which carries a 0% intro APR on new purchases and balance transfers for 15 billing cycles, in addition to 1.5% cash back, a larger sign-up bonus, and a $0 annual fee. Save for other differences worth reviewing, the flagship offer perks are competitive across both cards with Chase Freedom Unlimited carrying the longer 0% intro APR. Read our full Chase Freedom UnlimitedSM review to learn more.