Capital One® Quicksilver® Cash Rewards Credit Card Review

Eric is an expert who has been covering personal finance since the mid-1990s. His articles have appeared broadly on sites such as MSN, USA Today, and Yahoo.

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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.

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 -- 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.

What could be improved

Bonus cash back -- Yes, the rewards program’s across-the-board 1.5% cash back is easy to understand and keep track of. The downside of it, though, is that no product or service category earns additional cash back, as is the case of numerous rivals. Cardholders, then, are missing out on good earning opportunities if this is their only cash-back card.

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. The below two cards are alternative options that reward spending in categories that earn bonus cash back.

As of Mar. 18, 2020

Bank of America® Cash Rewards credit card

Chase Freedom®
Rating image, 4.5 out of 5 stars.
4.5 stars
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Rating image, 4.5 out of 5 stars.
4.5 stars
ToolTip Icon for Star Rating. 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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Credit Rating Requirement: Good/Excellent Clickable tooltip icon for credit rating info.

Credit Rating Requirement: Good/Excellent Clickable tooltip icon for credit rating info.

Bonus: $200 after spending at least $1,000 in the first 90 days of account opening Bonus: $150 after spending $500 within three months
Rewards Program: 3% cash back on gas or in your choice category, 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases), 1% on all else. Rewards Program: 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate, 1% on all else
Intro APR: Purchases: 0%, 15 billing cycles Balance Transfers: 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days Intro APR: Purchases: 0%, 15 months Balance Transfers: 0%, 15 months
Regular APR: 15.49% - 25.49% Variable Regular APR: 16.49% - 25.24% Variable
Annual Fee: $0 Annual Fee: $0

Highlights:

  • No annual fee
  • $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
  • Earn 3% cash back in the category of your choice, 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases
  • 0% Introductory APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 15.49% - 25.49% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers
  • No expiration on rewards
  • If you're a Preferred Rewards member, you can earn 25% - 75% more cash back on every purchase

Highlights:

  • Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening
  • Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter!
  • Unlimited 1% cash back on all other purchases - it's automatic
  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 16.49 - 25.24%.
  • 3% intro balance transfer fee when you transfer a balance during the first 60 days your account is open, with a minimum of $5.
  • No annual fee
  • Cash Back rewards do not expire as long as your account is open and there is no minimum to redeem for cash back.
  • Free credit score, updated weekly with Credit Journey℠

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On Chase'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.

Sorry for the inconvenience...

The Capital One® Quicksilver® Cash Rewards Credit Card credit card is currently being updated.

Please, check out our Best Cash Back Credit Cards list for other options.

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