Capital One Quicksilver Cash Rewards Credit Card review: A no-fuss cash back card

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If you're looking for a cash back card that keeps things simple, the Capital One Quicksilver Cash Rewards Credit Card might be the perfect fit. 

This card has no annual fee and earns a flat rate of 1.5% cash back on all purchases. You can also earn a generous welcome bonus and bonus cash back on hotels and car rentals booked through the Capital One portal. 

Here’s a look at Capital One Quicksilver Cash card's features, benefits, and drawbacks to help you determine if it's the right choice for your wallet.

Capital One Quicksilver Cash Rewards features and benefits 

The Capital One Quicksilver Cash Rewards is a simple cash back card that doesn't use gimmicks to lure in users. This card offers a simple and consistent reward structure without the complexity of rotating categories or spending limits. 

This makes the Capital One Quicksilver attractive for those who value ease of use and predictability in their rewards. It can also be a good choice if you’re looking for a 0% introductory APR on purchases and balance transfers. Here's an overview of all the benefits you can get from Capital One Quicksilver Cash Rewards.

Cash back rewards 

Rewards

• 5% back on hotels and rental cars booked through Capital One Travel
• 1.5% back on all other purchases 

The card offers an unlimited 1.5% cash back on all purchases, which means you'll earn $1.50 for every $100 you spend, regardless of the category. There's no limit to the amount of cash back you can earn, and your rewards won't expire as long as your account remains open and in good standing.

In addition, the Capital One Quicksilver Cash offers 5% cash back on hotels and rental cars booked through Capital One Travel. This can be a valuable benefit for cardholders who frequently travel or are planning a big trip.

Let’s examine how much cash back you can earn with the Quicksilver card using this monthly spending example.

You’d earn $39.50 in cash back over the month. While that may not sound like much initially, it can quickly add up over the year. 

Sign-up bonus 

New cardholders can earn a $200 cash bonus by spending $500 on purchases within the first three months of account opening. This bonus is relatively easy to achieve, as it only requires an average monthly spend of about $167 over the first three months.

This bonus is competitive with other cash back credit cards that don't charge an annual fee.

Intro 0% APR offer

The Capital One Quicksilver Cash Rewards offers an introductory 0% APR on purchases and balance transfers for the first 15 months. During this period, you won't accrue any interest on your balance, allowing you to pay off larger purchases over time or transfer high-interest debt from another card.

After the intro period ends, a variable APR of 19.74%-29.74% will apply to any remaining balance. Additionally, balance transfers are subject to a 3% fee during the first 15 months and a 4% fee after that.

No annual fee or foreign transaction fees 

The Capital One Quicksilver doesn't charge an annual fee, so you can keep it and enjoy its benefits without worrying about a yearly cost. This is particularly beneficial if you're not a heavy spender, as you won't feel pressured to use the card to justify an annual fee.

The card also doesn't charge foreign transaction fees, a great perk for international travelers. Many cards charge a 3% fee on purchases made abroad, but with the Quicksilver card, you can use your card internationally without incurring these extra costs. 

Additional benefits 

The Capital One Quicksilver Cash Rewards card comes with several additional benefits, including: 

• 24-Hour travel assistance services: If you're traveling and your card is lost or stolen, you can get an emergency replacement card to help you get by until your new card arrives.
• Complimentary concierge service: You can access a service that can help you book hard-to-get restaurant reservations, find tickets to sold-out events, and more. This service is available 24/7, 365 days a year.
• Extended warranty protection: When you use your card to purchase items with a manufacturer's warranty, you can receive additional protection at no extra charge.
• Travel accident insurance: If you use your card to pay for your travel, you may be covered by the card's travel accident insurance policy. This can provide additional peace of mind when you're on the go.
• Uber One benefits: You can enjoy six months of complimentary Uber One membership (through November 14, 2024). Benefits include $0 delivery fees on eligible Uber Eats orders, up to 10% off eligible Uber Eats orders, and member pricing for rides with the app. 

Redeeming rewards with the Capital One Quicksilver Cash Rewards card 

Redeeming your cash back rewards with the Capital One Quicksilver Cash Rewards card is simple. You have several options to choose from:

• Cash back: You can request your cash back as a check or have it directly deposited into your bank account.
• Statement credits: You can apply your cash back as a credit to your account balance, effectively reducing the amount you owe on your card.
• Gift cards: You can redeem your cash for gift cards from various retailers and restaurants.
• PayPal and Amazon.com purchases: You can link your card to your PayPal or Amazon.com account and use your cash back to cover your purchases.
• Capital One Travel: You can use your cash back to book flights, hotels, rental cars, and vacation packages through the Capital One Travel portal.

Unlike other cards, the Capital One Quicksilver card doesn't allow you to transfer rewards to airline or hotel partners. However, the simplicity of its redemption options make it a solid choice for many.

Capital One Quicksilver Cash Rewards drawbacks

While the Capital One Quicksilver offers a simple way to earn cash back, there are a few drawbacks to consider:

Lower cash back rate compared to other cards 

Although the card's 1.5% cash back on all purchases is decent, some other cash back cards offer higher flat-rate rewards or bonus categories that can help you earn more. 

For example, the Citi Double Cash® Card offers 2% cash back on all purchases (1% when you buy, plus 1% when you pay). The Chase Freedom Unlimited® provides 1.5% cash back as a base rate, with higher cash back on travel booked through Chase and dining and drugstore purchases.

That may not seem like a big difference, but having a higher flat rate or bonus categories does make it easier to earn cash back faster. 

No bonus categories 

The Capital One Quicksilver Cash Rewards doesn't offer any bonus categories for specific types of spending, such as groceries, gas, or travel. If a significant portion of your spending falls into these categories, you may be able to earn more with a card that offers higher cash back rates.

Some cash back cards also offer 5% back on rotating quarterly categories, leading to greater rewards if you can keep track of the categories and adjust your spending accordingly.

High variable APR after the introductory period 

This card offers an attractive 0% intro APR on purchases and balance transfers for 15 months. But, the ongoing variable APR of 19.74%-29.74% is relatively high. If you tend to carry a balance on your credit card, the interest charges could quickly negate the value of any rewards you earn.

Is the Capital One Quicksilver Cash Rewards Card right for you? 

The Capital One Quicksilver can be an excellent choice for some, but it may not be the best fit for everyone. Here are some scenarios where this card could be a good match:

• You value simplicity: If you don't want to bother with tracking bonus categories or activating quarterly rewards, the Capital One Quicksilver's flat 1.5% cash back offers a hassle-free way to earn rewards.
• You're a frequent international traveler: The card's lack of foreign transaction fees makes it a good option for those who travel abroad. 
• You have a large purchase or high-interest debt to pay off: The card's intro APR offer can provide an opportunity to finance a big-ticket item or transfer and pay down existing high-interest card debt without accruing interest charges. 
• You want a simple sign-up bonus: The Capital One Quicksilver card offers a $200 cash bonus after spending $500 on purchases within three months of account opening. This bonus is relatively easy to earn, even for those with more modest spending habits.

Alternatives to the Capital One Quicksilver Cash Rewards Card

Alternatives to the Capital One Quicksilver Cash Rewards Card include the Chase Freedom Unlimited® and the Citi Double Cash® Credit Card. Let’s take a closer look at each. 

Capital One Quicksilver Cash Rewards Card vs. Chase Freedom Unlimited® 

The Chase Freedom Unlimited® is another popular cash back credit card with no annual fee, making it a natural comparison to the Capital One Quicksilver card. 

The main difference between these two cards lies in their reward structures. The Capital One Quicksilver Cash Rewards Credit Card offers a simple 1.5% cash back on all purchases. On the other hand, the Freedom Unlimited offers bonus cash back in specific categories, such as travel booked through Chase and dining and drugstore purchases.

If you spend heavily in these categories, you may be able to earn more with the Chase Freedom Unlimited®.

Both cards offer similar sign-up bonuses, intro APR offers, and a range of additional benefits. Choosing these two cards will depend on whether you value higher rewards in specific categories. 

Capital One Quicksilver Cash Rewards Card vs. Citi Double Cash® Credit Card 

The primary advantage of the Citi Double Cash® Credit Card is its higher cash back rate of 2% on all purchases (1% when you buy, plus 1% when you pay). This means you can earn more rewards on your everyday spending than the Capital One Quicksilver card.

But the Capital One Quicksilver has a few advantages over the Citi Double Cash. It offers an easier-to-achieve sign-up bonus and an intro 0% APR on both purchases and balance transfers, while the Citi Double Cash only offers an introductory APR on balance transfers.

If your goal is to maximize your cash back rewards, the Citi Double Cash® Credit Card may be the better choice. But the Capital One Quicksilver may be the better fit if you value a more easily attainable sign-up bonus and no foreign transaction fees.

How the Capital One Quicksilver Cash Rewards Credit Card stacks up 

How we rated this card 

Every credit card review we publish has undergone a rigorous editorial process to ensure accuracy and objectivity. Learn more about our methodology here.

Here are some of the factors that influenced this card’s overall score:

• Rewards: The Capital One Quicksilver offers a straightforward rewards structure with unlimited 1.5% cash back on all purchases and 5% cash back on hotels and car rentals booked through Capital One Travel. While this is a decent earning rate, some competitors offer higher flat cash back rates, such as 2%.
• Redemption flexibility: The card provides a good range of redemption options, giving cardholders flexibility in using their rewards. 
• Benefits: The Quicksilver offers perks like travel assistance, concierge services, extended warranty protection, and travel accident insurance. The complimentary six-month Uber One membership adds value, but the card lacks the premium travel benefits of other rewards cards.
• Annual fee: The card's lack of an annual fee makes it accessible, allowing you to earn rewards without worrying about offsetting a yearly cost.
• Welcome bonus: The welcome bonus is easily achievable and comparable to other no-annual-fee cash back cards.
• Rates & fees: The card offers an attractive introductory APR offer on purchases and balance transfers, which can provide valuable savings for those looking to pay off large purchases or transfer high-interest balances. 

The bottom line

The Capital One Quicksilver Cash Rewards offers a better rewards rate and more benefits than some cash back credit cards on the market today, but not all of them. You can easily opt for a 2% cash back credit card instead, or you can pick a card that offers more rewards in select bonus categories.

The Capital One Quicksilver Cash Rewards Credit Card shines in its flat cash back rate combined with no foreign transaction fees. If you want to earn generous spending rewards and frequently make purchases overseas, this could be the card for you.

Editorial disclosure: Opinions expressed are author's alone, not those of any bank, credit card issuer, or other entity. This content has not been reviewed, approved, or otherwise endorsed by any of the entities included in the post.