Capital One® Quicksilver® Card Review
Rewards programs don’t come much simpler than the one with this card. Its owners can also take advantage of some very attractive intro bonuses.
Great for: Unlimited cash rewards and 0% intro APR offer Capital One® Quicksilver® Cash Rewards Credit Card
- 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
- 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 15 months; 14.74%-24.74% variable APR after that
- 0% intro APR on balance transfers for 15 months; 14.74%-24.74% variable APR after that; 3% fee on the amounts transferred within the first 15 months
- Pay no annual fee or foreign transaction fees
Capital One® Quicksilver® Cash Rewards Credit Card is a popular credit card for those who want a straightforward rewards card with a nice set of bonuses for new cardholders. Capital One has been very competitive with cards in several segments of the market; let’s see if this cash-back offering is worth including in your wallet.
What I like about the card
$150 cash bonus -- New cardholders can earn a $150 bonus once $500 is spent on the card; this must be achieved within three months of the account opening.
Unlimited 1.5% cash back -- This offer is a “what you see is what you get” cash-back card. Every transaction made with the card, no matter the amount or product/service category, earns 1.5% cash back.
$0 annual fee -- Capital One gives Quicksilver® cardholders a nice, permanent break from paying an annual fee.
0% intro APR for purchases -- APR effectively doesn’t exist 15 months for new purchases.
0% intro APR for balance transfers -- Another long-lasting zero for the card, the 0% intro APR for balance transfers spans 15 months.
No foreign transaction fee -- Travelers get a nice break with this perk. The foreign transaction fee is an irritating, yet still common, charge that dings a cardholder a small percentage (typically 3% or so) of every purchase made abroad.
Cash-back never expires -- The clock is never ticking on cash back, since it is valid for redemption as long as the customer maintains their account. Additionally…
No minimum redemption -- Another convenient, low-maintenance aspect of the card is that the cash back can be redeemed whenever the cardholder sees fit.
Visa Signature benefits -- The card’s brand is Visa Signature for those approved for a credit limit over $5,000 (sub-$5,000 limit cardholders will receive Visa Platinum benefits instead). Visa Signature’s feature set includes the following:
- Extended warranty protection. This doubles the period of the manufacturer’s warranty on a particular good purchased with the card. It does so up to a maximum of one additional year, on qualifying warranties of three years or less.
- Travel auto rental insurance. Supplemental coverage is provided. In the case of accident or theft, the policy reimburses up to the monetary value of any qualifying vehicle, for a period of 15 consecutive days at most in the cardholder’s country of residence, and 31 consecutive days outside of said country.
- Lost luggage reimbursement. Another comforting travel perk from Visa Signature is this one, which covers up to $3,000 for loss of baggage due to “theft or misdirection” by the operator of your means of conveyance.
Concierge services -- Visa Signature Concierge is available 24/7 through a toll-free phone number for Capital One® Quicksilver® cardholders. These folks can tap Visa for advice on sports and entertainment tickets, travel bookings, local attractions, etc.
Why you can trust me
I have been a writer, editor, and even publisher of business news and analysis since 1994 and I have published thousands of personal finance articles that have appeared on site like AOL, Yahoo, CNN Money, and MSN. I have also added consistently to my credit card collection -- these days my wife and I hold six cards from all three major brands (Visa, Mastercard, and American Express), not counting store cards. So in addition to my history and experience, I have first-hand knowledge of credit cards, particularly about how to use them to maximum advantage.
What could be improved
Suggested credit score
Excellent credit is suggested to increase your chances of approval. Capital One expands somewhat on this definition as it is a bit more lenient than traditional definitions of excellent credit. It emphasizes the following factors for those interested in applying for the card.
- Never declared bankruptcy.
- Not defaulted on a loan.
- Never paid a credit card statement, medical bill, or loan more than 60 days after it was due.
- Held a credit card or loan at a limit (or amount) over $5,000, for at least three years.
Capital One says that other factors drawn from the information provided on an application will be considered; it does not elaborate. The company also says that it will take into account an applicant’s credit history.
Other cash-back cards to consider
Capital One® Quicksilver® Cash Rewards Credit Card is a solid card that is worth comparing to other leading cash-back cards in the market.
Chase Freedom® increases the potential cash back haul for cardholders who can make the most of the cards 5% back categories (on up to $1,500 of spend each quarter) that rotate every quarter and must be activated.
Bank of America® Cash Rewards credit card packs in a lucrative cash rewards program, in addition to the best bonus we've come across in its category: receive $200 after spending just $500 within 90 days.
|Chase Freedom®||Bank of America® Cash Rewards credit card|
On Chase's Secure WebsiteRead Full Review
On Bank of America's Secure WebsiteRead Full Review
|Bonus: $150 After Spending $500 Within Three Months||Bonus: $200 online cash rewards bonus after spending at least $500 on purchases in the first 90 days of account opening|
|Rewards Program: 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate, 1% on all else||Rewards Program: 3% on gas for the first $2,500 in combined grocery/wholesale club/gas purchases each quarter, 2% at grocery stores and wholesale clubs, 1% cash back on all else|
|Intro APR: Purchases: 0%, 15 months Balance Transfers: 0%, 15 months||Intro APR: Purchases: 0%, 12 billing cycles Balance Transfers: 0% Intro APR for 12 billing cycles for balance transfers made in the first 60 days|
|Regular APR: 16.99% - 25.74%, variable||Regular APR: 15.24% - 25.24% Variable|
|Annual Fee: $0||Annual Fee: $0|
On Chase's Secure Website
On Bank of America's Secure Website
The card is right for you if...
A great strength of Capital One® Quicksilver® Cash Rewards Credit Card is that it appeals to several different types of credit card users. If you’re one, or a combination of any, of the three, it’ll be quite a practical card to own.
- Cardholders who like a stripped-down cash-back rewards program that requires little monitoring or maintenance. This cards cash-back program is as simple as it can get, with all buys earning the same 1.5% cash back.
- People looking to consolidate their credit card debt. The 0% intro APR for balance transfers APR provides plenty of time to whittle down a transferred balance.
- Those planning a big-ticket buy or several. If opting for the first of the two bonus offerings mentioned above, cardholders can take serious advantage of the 0% APR for 15 months. Large purchases can be made with the card, then gradually paid off over that year-plus period without accruing interest, plus the purchase can help reach the spending threshold to earn the sign-up bonus.