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- Capital One Quicksilver Review
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Capital One® Quicksilver® Cash Rewards Credit Card is a popular credit card for those who want a straightforward rewards credit card with a nice set of bonuses for new cardholders. In this comprehensive Capital One® Quicksilver® Cash Rewards Credit Card review, we’ll see if this cash-back offering is worth including in your wallet.
Capital One® Quicksilver® Cash Rewards Credit Card
Rating image, 4.5 out of 5 stars.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor.
What We Like About The Card
This may be the most versatile and flexible cash-back card on the market. The long 0% intro APR makes the offer hard to pass up, especially if you're wanting to keep a one-card wallet that packs in a rich rewards program.
Rewards
Unlimited 1.5% cash back, no minimum to redeem
Annual Fee
$0
Intro APR
Purchases: 0%, for 15 months
Balance Transfers: N/A
Ongoing APR
15.49% - 25.49%, variable
Welcome Bonus
$150 after spending $500 within 3 months
Highlights
- 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; 15.49%-25.49% variable APR after that
- 15.49%-25.49% variable APR on balance transfers; No transfer fee
- Pay no annual fee or foreign transaction fees
Full Capital One Quicksilver review
This credit card is a good fit for: Consumers who want to keep it simple with the same cash back rate on all their spending. Those with big purchases coming up can also pay them off over time thanks to this card's 0% intro APR.
Pros
- Competitive sign-up bonus
- Solid cash back rate on every purchase
- No annual fee
- Zero-interest offer
Cons
- No bonus categories
- No balance transfer offer
Top perks
$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 break from paying an annual fee.
0% intro APR for purchases: There’s no APR for new purchases for the first 15 months with this card.
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.
No minimum cash-back redemption: Another convenient, low-maintenance aspect of the card is that the cash back can be redeemed whenever the cardholder sees fit.
What could be improved
No bonus cash back: Yes, the rewards program's across-the-board 1.5% cash back is easy to understand and keep track of. However, the downside is that no product or service category earns additional cash back, as is the case with numerous rivals. Cardholders are missing out on good earning opportunities if this is their only cash-back card.
Balance transfer offer: No card has it all, but this one would come close if it also came with an intro 0% APR on balance transfers for folks who are paying off debt.
Suggested credit score
Good to excellent credit -- typically a FICO® Score of 670 or higher -- is suggested to increase your chances of approval for Capital One® Quicksilver® Cash Rewards Credit Card. Capital One details potential acceptance criteria, as outlined below:
- 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.
Alternatives to consider
- If you want a card that earns extra cash back: The Chase Freedom Flex℠ credit card is another great option that comes with a $200 cash bonus after spending $500 within three months. You can earn up to 5% cash back in rotating categories you activate that have previously included options like gas and restaurants. Categories rotate every quarter and there's a $1,500 quarterly spending cap.
- If you want to earn big in a category of your choosing: The Bank of America® Cash Rewards credit card is good for cardholders wanting higher rewards on grocery spending, as well as a category of their choice. The card has the same 0% intro APR offer, but includes 3% cash back on gas or your chosen category, in addition to 2% at grocery stores and wholesale clubs (capped at $2,500 of spending in combined bonus categories). Existing Bank of America customers will also want to take a closer look since the bank's free Preferred Rewards program offers 25% to 75% bonus rewards.
As of Jan. 05, 2021
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| Chase Freedom Flex℠ | Bank of America® Cash Rewards credit card |
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Rating image, 5.0 out of 5 stars.
5.0 stars
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. |
Rating image, 4.5 out of 5 stars.
4.5 stars
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. |
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Apply Now
On Chase's Secure Website. |
Apply Now
On Bank of America's Secure Website. |
| Read Full Review | Read Full Review |
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Credit Rating Requirement: |
Credit Rating Requirement: |
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Welcome Bonus: $200 after spending $500 in the first 3 months |
Welcome Bonus: $200 after making at least $1,000 in purchases within 90 days of account opening |
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Rewards Program: 5% cash back ($1,500 spending cap for bonus categories each quarter you activate), 1% back on all else |
Rewards Program: 3% cash back in your choice category, 2% at grocery stores & wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases), 1% on all other purchases. |
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Intro APR: Purchases: 0%, 15 months Balance Transfers: N/A, N/A |
Intro APR: Purchases: 0%, 12 billing cycles Balance Transfers: 0% Intro APR for 12 billing cycles for any balance transfers made in the first 60 days |
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Regular APR: 14.99% - 23.74% Variable |
Regular APR: 13.99% - 23.99% Variable |
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Annual Fee: $0 |
Annual Fee: $0 |
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Highlights:
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Highlights:
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Apply Now
On Chase's Secure Website. |
Apply Now
On Bank of America's Secure Website. |
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The credit 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 by taking perks offered by many of the best credit cards and packaging them into one. If you're one, or a combination of any, of the following, it'll be quite a practical card to own:
- Anyone looking for an easy, no-annual-fee credit card they can use for all their purchases.
- Cardholders who like a stripped-down cash-back rewards program that requires little monitoring or maintenance. This card's cash-back program is as simple as it can get, with all buys earning the same 1.5% cash back.
- Those planning a big-ticket buy. 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.
About the Author
Elizabeth is a personal finance writer specializing in credit cards, debt repayment, and small business. Her work has appeared on The Motley Fool, MSN Money, Yahoo! Finance, and Business Insider. She’s an avid credit card points collector and perpetual traveler currently living in Costa Rica.
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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team. The Motley Fool has a Disclosure Policy. The Author and/or The Motley Fool may have an interest in companies mentioned.
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