Capital One Quicksilver Card Review

By Kevin / August 3, 2016
CreditShout Reviews and Recommends Capital One Quicksilver Cash Back Credit Card

Quicksilver® Rewards Overview

Review of Cash Back Cards from Capital One

CreditShout Rating

Annual Fee: $0

Credit Required: Good

Rewards Program and Signup Bonuses*:

  • One-time $100 cash bonus after you spend $500 on purchases within the first 3 months.
  • 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 doesn't expire and there's no limit to how much you can earn.
  • 0% intro APR for 9 months; 13.49% - 23.49% variable APR after that.
  • Balance transfers also have a 0% intro APR for 9 months; 13.49%-23.49% variable APR after that; and a 3% fee applies to each balance transferred.
  • Pay no annual fee or foreign transaction fees.
  • Enjoy unlimited access to your credit score and tools to help you monitor your credit profile with CreditWise®.

Intro APR

0% for 9 Months

Intro Balance Transfer

0% for 9 Months; but 3% Transfer Fee

Regular APR

13.49% - 23.49% Variable on Purchases and Transfers

Verdict

If you want a straightforward rewards card that gives you a flat cash back on everything you buy - not just certain categories - then the Capital One® QuickSilver® may be for you. With no annual fee and 1.5% back on all your spending, it's hard to beat.

The Capital One Quicksilver cash rewards card is is revamp of its predecessor, the Cash Rewards card. The old card gave you a flat 1% back on all spending, and then a 50% bonus on the cash back you earned at the end of the year. 

The new QuickSilver has a more straightforward rewards program: You get the full 1.5% cash back right away!

The card also has no annual fee. And the QuickSilver card currently comes with a decent sign-up bonus, considering it has no annual fee:

  • Spend just $500 within your first three months for a $100 cash bonus.
  • You can also enjoy a 0% intro APR on balance transfers and new purchases (through a 3% fee applies for all balance transfers).

You will need good or excellent credit to qualify. Fortunately, CapitalOne also offers a slightly different version for those with average credit - QuickSilverOne card. More on that alternative below.

The QuickSilver Rewards Program

The QuickSilver card earns you 1.5% back on all spending. Unlike many rewards cards available today, there are no rotating bonus categories that require opting in every few months to get higher rewards. There are also no thresholds to meet before you can cash out. You can redeem your cash back at any time, with no minimum redemption necessary.

Plus, your rewards are not capped, and they never expire.

To make it even easier to redeem your rewards, you can choose automatic redemption if you like by specifying a specific threshold, such as receiving an automatic statement credit every time you accumulate $10 or $20 in rewards.

The QuickSilver card has no foreign transaction fees, which makes it a good choice for travel abroad. You can also keep track of your credit score with free unlimited access to the Capital One Credit Tracker service. It can also be used with Apple Pay.

For those that qualify for a credit limit of $5,000 or more, the QuickSilver card also comes with these perks:

  • Extended Warranty protection on purchases
  • Rental car insurance
  • Complimentary concierge services
  • 24-hour travel assisance
  • Complimentary travel upgrades and savings at resorts, spas and hotels
  • Shopping discoints
  • Special access to events

Differentiation from QuickSilver One MasterCard

There is another version of the QuickSilver card called the QuickSilverOne® Rewards MasterCard. This alternative card from Capital One is designed for consumers with average, fair, or even limited credit.

 The QuickSilverOne card earns the same 1.5% back, but it has a $39 annual fee.

The QuickSilverOne card is probably to best cash back rewards card available for consumers with average credit.

Capital One QuickSilver vs Citi DoubleCash

The QuickSilver card is comparable to the DoubleCash card from Citi, which earns you up to 2% back on all spending. With the DoubleCash card, you get an unlimited 1% back on all purchases, and an additional 1% back when you pay for your purchases.

You get the extra 1% whether you pay over time or pay your balance in full, but you need to pay at least the minimum. You earn the extra 1% back on each payment you make. So if you make a $25 minimum payment, you'll earn an extra $0.25 credited to your reward balance.

Like the QuickSilver card, the DoubleCash card has no caps on rewards and no category restrictions or bonus categories to sign up for.

The Citi DoubleCash does not have a sign-up bonus, however.

If you pay your balances in full each month, the Citi DoubleCash will earn you more. If you pay balances over time and want immediate rewards on your spending, you may be better off with the QuickSilver.

Conclusion

The Capital One QuickSilver card is a good choice for someone who is not a big spender but wants a reliable, no hassles cash back card with a good rewards rate. It also currently offers a solid sign up bonus program.

Review of Cash Back Rewards Credit Cards from Capital One

Enjoy Your Cash Back

While you probably can earn more cash back with cards like the Discover it, the QuickSilver card is a good choice if you don't want to mess with rotating categories and opt-ins.

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