Editor’s Note: This post has been updated with the latest credit card information.
Capital One Quicksilver Cash Rewards Credit Card Overview
The Capital One Quicksilver Cash Rewards Credit Card is a good card for those who like to keep their rewards simple.
This card earns a flat 1.5% cashback rate on all purchases, is easily redeemable, and requires no minimums. However, Quicksilver’s rewards aren’t quite as flexible as some of their competitors’ rewards, so if you’re planning to expand your card portfolio at some point, you might want to consider a other card. Card Rating*:
*Tag ratings are based on the opinions of TPG editors and are not influenced by the card issuer.
The Capital One Quicksilver Cash Rewards Credit Card may slightly outperform the perks of other cashback cards with a respectable sign-up bonus and no annual fee, but it also requires an excellent credit rating from subscribers and There are a few downsides worth pointing out.
Quicksilver’s simple monetization structure can be appealing — along with its distinction of being one of best 0% interest card on the market – but what makes it even more is the ability to convert the cash you earn on it into miles with Capital One Venture Rewards Credit Card (if you also have that card), then maybe redeemed with more than 15 airlines and three hotels transfer partner.
Let’s go into detail.
Who is this card for?
The The capital of a Quicksilver is the best for those who use one card for everything because it has a simple, fixed 1.5% cashback earning rate.
If you don’t use bonus spending categories like dining, entertainment and groceries, or you don’t want to use your card when you go out, you’ll at least get more than 1% cash back on all expenditures. However, you can improve Quicksilver’s monetization rate, as we’ll soon see.
sign up bonus
Capital One now offers Quicksilver Cash Rewards cardholders a $200 cash bonus after spending $500 on purchases within the first three months of account opening.
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That’s typical for cashback cards with no annual fee, and it has the advantage of low spending requirements that most people can meet without too much effort. But compared to best travel credit cardcan offer a signup bonus of thousands of dollars, this $200 is just some extra cash in your pocket.
With this card, you will also enjoy an initial annual percentage rate (APR) of 0% on purchases and balance transfers for 15 months, a variable APR of 17.99%-27.99% thereafter, and 3% fee on funds transferred within the first 15 months of the month – makes this formidable 0% interest card, if that’s a factor for you.
Related: 13 cards now offer signup bonuses of 100,000 points or more
Key benefits and perks
The The capital of a Quicksilver not a card to get if you want perks like lounge access or travel credits, which are usually included in premium credit card. However, Quicksilver includes some benefits, such as charging No foreign transaction fees. It’s a perk that, while almost common now on credit cards that charge an annual fee, is a little rarer on the internet. free card every year. Other benefits include:
How to earn cash back
There’s nothing special about earning cash back on Capital One Quicksilver, just a flat 1.5% on all purchases with no bonus category.
If you don’t have a high spending category, then you can earn the same amount on all purchases. However, if you make a large number of purchases each month in a particular category—such as dining or groceries—then you may want to consider a card that earns a bonus in that category.
Related: Best credit cards for dining rewards
How to redeem cash
You can redeem your Capital One Quicksilver cashback as a statement credit, check or gift card, or you can apply it directly to a specific fee you have on your statement own and pay that way. There’s also no minimum redemption amount — all you have to do is log into your account through the app or computer and simply choose your preferences.
This is similar to many cashback cards, but it is not as flexible as Unlimited pursuit of freedomalso earn 1.5% cash, but can be converted into Final bonus points can be transferred to a premium Chase card — Chase Sapphire Priority Card, Chase Sapphire Reserve and Ink . Business Preferred Credit Card — and turn it into a valuable travel reward.
Related: The Power of Chase Trifecta: Sapphire Reserve, Ink Preferred and Freedom Unlimited
Which card competes with Quicksilver?
Capital One Quicksilver is similar to its sister card, the Capital One QuicksilverOne Cash Rewards Credit Card, also earn 1.5% cash back on all purchases. The main difference is that QuicksilverOne is for people with limited or medium credit and it comes with a $39 annual fee and no sign-up bonus. Other than that, the perks and cashback are essentially identical. So if you have a high credit rating to qualify for a Quicksilver card, it’s a better choice.
However, when it comes to earning cashback, even if you’re looking for a card with a fixed earning rate on all purchases, you’ll definitely do better with Citi® Double Cash Cardearn 2% on all purchases (1% when you buy and 1% when you pay) and also no annual fees.
On the other hand, if you are willing to try the bonus categories, Capital One SavorOne Cash Rewards Credit Card earn 3% cash back on dining, entertainment, popular streaming services and groceries (excluding supermarkets like Walmart® and Target®) and 1% on all purchases Otherwise, this may be reasonable depending on your spending habits.
If you plan to use a 1.5% cashback card, Unlimited pursuit of freedom There are also no annual fees and 1.5% cash back on most purchases. However, it also accrues 5% cashback on Chase travel booked through Ultimate Rewards, 3% cashback at drug stores and on dining—much higher earning rates for categories easy to maximize.
Furthermore, as part of the Chase Ultimate Rewards ecosystem, Freedom Unlimited has a much greater potential and advantage in return for that cash. Simply pair Freedom Unlimited with a premium Chase card such as Chase Sapphire Priority Card or Ink . Business Preferred Credit Card and you can transfer your cash back The ultimate reward is transferable points can be converted to flight miles and hotel points with program partners, likely to double the value of what you earn from the card.
Related: Best cashback credit card
bottom line
The Capital One Quicksilver Cash Rewards credit card offers pretty good cashback rates and a solid signup bonus. However, other cashback cards offer more generous earnings, and others have more flexible ways to redeem your rewards for greater value.
The only reason to choose Quicksilver over other cash-back credit cards is if you appreciate the $200 sign-up bonus. If not, you’ll probably be better off looking elsewhere.
Additional reporting by Ryan Wilcox.
