Capital One Quicksilver Rewards Credit Card Review

The Capital One Quicksilver Rewards credit card is a great introductory cash back card that offers simple dollars back on all purchases.

Written by : Updated On: December 9
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The basics

Reward Rate:

Groceries

All Spends

1.5%

Earn unlimited 1.5% cash back on every purchase, every day. $0 annual fee

Key Features:

Annual Fee

$0

Intro APR

0% intro APR for 15 months on purchases and balance transfers

Regular APR

19.74%-29.74% Variable APR

Signup Bonus

signup-bonus

$200 in cash back so long as you spend $500 within 3 months from the account opening date

Redemption ways

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Statement credit, direct deposit, or check. Also redeem points online for shopping.

Our Verdict

For an everyday spend cash-back card, the Quicksilver is difficult to beat due to the lack of an annual fee coupled with the 15-month intro 0% APR. While the 1.5% back may seem limiting, the added perks offered by the card can potentially sweeten the deal.

Best Suited for:

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Pantry stockers

You are not happy unless you have a kitchen full of food. You are the designated grocery person in your household, and you are good at it. But what you really like is getting cash back for spending in this category.

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Always on the Road

Travel is your middle name. When you aren’t taking advantage of transit for your daily commute in the form of cabs, rideshares and trains, you are looking for a weekend escape. And if there is an opportunity to go somewhere, you take it. You are into earning miles, getting hotel upgrades, eating out and making sure your car is always fueled.

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Social Butterflies

You are a person of the people and love to hang out with your friends whether it is a beautiful meal out, attending a sporting event or rocking out at a live concert. If something fun is happening, you want to be there and get rewarded for it.

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Digital Junkies

Netflix, Amazon Prime, YouTube, Apple TV, Spotify, Hulu, you've got them all. There is so much high-quality content to stream out there, and you want to see and hear it all. And you have the best electronic equipment to stream it on. You also try to save on utilities for your digital household. You deserve to get some cash back for all of this (especially being ahead of the game with finding the next binge-worthy show.

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Foodies

If there is a new restaurant opening, you are there. You are all about the latest food fusion trend no one has heard of and putting it on the map. You love finding the best new restaurant but also like to go to your old standbys and earning cash back for all. And when you aren’t finding the best new restaurant, you are experimenting with recipes at home, so you also need a good card for reaping the rewards of grocery shopping.

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Avid Shoppers

You love a great bargain and know your way around a Neiman Marcus as well as a Target. You also love a good online shopping session. Finding a sale at your favorite store is great, but what you really love is a great cash back rewards program.

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Health Nuts

Eat healthy, exercise, and take care of yourself is your mantra. You belong to the best gyms, follow all the latest healthy food recommendations, and make a trip to the drug store every week to purchase the latest supplements and vitamins.

ProsCons
No annual fee associated with the cardExcellent credit score is recommended
No foreign transaction fees No rotating categories or bonus percentage rewards
Generous $200 cash back welcome bonus so long as $500 is spent within 3 months
Intro 0% APR for the first 15 months

Hidden perks

What really sets the Quicksilver credit card apart from other similar cards is the current welcome bonus offered. By putting just $500 on the card within three months of opening your account, you will receive $200 in cash back. Assuming you use this card for daily purchases, this $500 minimum should be relatively easy to meet.

Beyond the basics

Balance Transfer Intro APR

3% fees on amounts transferred during the first 15 months

Cash Advance APR

25.24%

Foreign Transaction

None

Late Payment fee

up to $40

Penalty APR

No penalty fees

Credit Score Required

750-800+ score

What we like about this card

With an unlimited 1.5% cash back on all purchases, there’s no need to juggle spending categories with the Capital One Quicksilver Rewards card, making it convenient for users who prefer straightforward rewards. Additionally, the lack of annual fees and foreign transaction fees enhances its appeal. The card often provides a solid introductory APR offer of 0% for 15 months for new cardholders, making it an attractive choice for those looking to save on interest for an initial period.

 

Drawbacks and considerations

While the flat 1.5% cashback is easy to understand, it might not yield as high rewards for those who spend significantly in specific categories like dining, groceries, or travel related purchases. Other cards with category-specific bonuses could offer more lucrative rewards for targeted spending.

Additionally, the card might not include as many premium perks or benefits compared to higher-tier cards, which could be a downside for users seeking extensive travel or luxury benefits. The welcome bonus is also relatively modest compared to some other offerings on the market.

Other Offers

All Capital One customers can apply the free browser extension to automatically apply discount codes and coupons when shopping online. Saving customers over $160 million last year alone, this benefit can be quite helpful if the majority of your shopping is done digitally.

Every time a new purchase is approved on your account, you can choose to have a push notification sent to a registered phone number to help protect against fraud.

If pure cash back isn’t appealing to you, consider redeeming your points on Amazon.com in full. With millions of eligible items on Amazon, all you need to do is link your Capital One Rewards account to the site and you will be on your way to making purchases with your earnings.

By holding a Capital One card, you will gain VIP access to pre-sales for concerts, five-star meals, and other entertainment related activities.

How to decide if this card is right for you

Deciding on the Capital One Quicksilver Rewards card depends on your spending habits and preferences. If you prioritize simplicity and prefer earning rewards without the hassle of tracking spending categories, this card’s flat 1.5% cashback on all purchases might suit your needs. If you’re looking for a card without annual fees and foreign transaction fees and value a solid introductory APR offer, this card could be a good fit. However, if you have specific spending patterns where category-specific bonuses could yield higher rewards or if you desire premium travel or luxury benefits, exploring other cards might be more beneficial.

 

Pair this card with:

Capital One SavorOne card

citi-Premier

In reality, the only limitation on this card is the lower 1.5% cash back flat rate. To maximize your credit card rewards, consider pairing this flat rate card with a bonus category or tiered credit card that offers higher percentages in certain spend categories. For example, if you already have the Capital One SavorOne card, you will be earning 3% on dining, entertainment, and streaming, but only 1% on all other purchases. By adding the Quicksilver card to your wallet, you can get an extra .5% on all purchases besides the bonus categories targeted by the SavorOne card.

Apply now: Capital One SavorOne card

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FAQs

Comparing the Capital One Quicksilver and Capital One Platinum cards depends on individual preferences. The Quicksilver card offers cash back rewards on purchases, while the Platinum card is a basic credit card without rewards. If you prioritize earning rewards on your purchases, the Quicksilver card might be better suited for you. However, if you prefer a straightforward card without rewards and are looking to build or improve credit, the Platinum card could be a more suitable choice.

Obtaining the Capital One Quicksilver card typically requires at least a fair to good credit score. Having a credit score in the mid-600s or higher generally improves the chances of approval for this card, with an emphasis on aiming higher. However, individual credit history and other factors also influence the approval decision.

Deciding to upgrade to the Capital One Quicksilver card depends on your current credit card and spending needs. If you’re seeking cashback rewards and value a flat-rate rewards structure, upgrading to the Quicksilver card could be beneficial. However, if you’re content with your current card’s features and rewards structure, or if you’re looking for different types of rewards or benefits, upgrading might not be necessary.

The Capital One Quicksilver card can be a suitable choice for beginners due to its simplicity and ease of use. Its flat 1.5% cashback on all purchases without the complexity of rotating categories makes it beginner friendly. Additionally, the lack of annual fees and foreign transaction fees could make it an appealing option for those starting to build credit or enter the world of credit cards.