Capital One Quicksilver Rewards Review
People who are looking for a simple, no-fuss card with a 1.5% unlimited cash back on every purchase and a $200 early spend cash bonus can reap tremendous benefits from Capital One Quicksilver Rewards Credit Card. With no annual fee, this card is worth considering if you are looking for a rewards card.
The Quicksilver Rewards Credit Card has no annual fee and offers 0% introductory APR for the first 15 months on purchases. This means that if you make an expensive purchase with this card, you can gradually pay it off over 15 months without any interest. You also get a 1.5% unlimited cash back on every purchase regardless of whether you use this card while dining out, buying groceries or shopping online. It’s easy to redeem this cash back anytime, and it has no minimum cash back redemption requirement.
Card Details to Know Up Front
- Bonus, Fee or FeatureHas or Not
- Has Annual Fee
- Has Balance Transfer Offer
- Has APR Offer
- Cash Back Rewards
- Travel Rewards
Capital One Quicksilver Rewards at a Glance
When you sign up for Capital One Quicksilver Rewards Credit Card, you get a $200 early spend bonus after making $500 in purchases within three months. You can also redeem your rewards easily because there is no minimum redemption requirement.
With this card, you get to experience international travel in a better way. It does not have a foreign transaction fee, and you also get travel accident insurance when you pay for your travel bookings.
- Capital One Quicksilver Rewards
Best cash back rewards credit card for everyday spending
- Good-ExcellentCredit Needed
- $0Annual Fee
- 1.5% Cash BackRewards Rate
- 1.5xRewards Rate on Dining
- 1.5xRewards Rate on Online Shopping
Pros & Cons Explained
The Capital One Quicksilver Rewards Credit Card is beneficial in many ways. However, it does have some downsides. Understanding the pros and cons can help you compare it with other cards and make a better decision.
- Low feesThe annual fee of this card is $0, and it has no fee for foreign transactions. This makes it beneficial for use while traveling internationally.
- Unlimited cashbackWith this card, you get 1.5% cashback on every purchase. The cash rewards are unlimited and available for use instantly. Additionally, there is no minimum redemption limit.
- 0% introductory APRThis card offers an introductory APR of 0% for 15 months, making it easier for you to pay off a big purchase during this period.
- Competitive early spend bonusYou get a $200 early spend bonus as soon as you sign-up and make $500 in purchases with this card within three months of opening an account.
- No bonus rewards for gas and groceriesAlthough this card has a 1.5% cash back reward on every purchase, it does not offer any bonus category rewards. If you’re someone who spends a lot of money on groceries or gas, you’re better off with other credit cards that offer up to 3% cashback on various U.S. supermarkets and gas stations.
- Only for people with good/excellent creditIf you don’t have a good credit score, generally above 670, you’re not eligible for this card.
The Capital One Quicksilver Rewards Credit Card has been selected as the best cash rewards credit card by MoneyGeek. Check out our other selections for the best rewards credit cards of 2022.
Bonuses & Rewards Explained
Before signing up for the Capital One Quicksilver Rewards Credit Card, it’s a good idea to understand the bonuses and rewards. This way, you’ll know what to expect as you use the card in order to maximize your cash back.
No redemption limit
There is no minimum redemption limit on cash rewards. You can redeem your rewards anytime, and the rewards do not expire as long as the account remains open.
Redeemable by check, gift cards or covering a purchase
The Capital One Quicksilver Credit card rewards can be redeemed by check, applying as a statement credit, buying gift cards or directly covering a recent purchase.
Early spend bonus
You get a $200 early spend bonus by signing up to this card and spending $500 within three months.
1.5% cash back on all purchases
No matter where you use your card, you’ll get 1.5% cash back. This makes it an easy-to-use card since you know you’ll consistently get cash back at the same rate regardless of your purchases type and location.
Other Features Explained
The Capital One Quicksilver Rewards Card also offers many other features which may prove to be beneficial for users.
- Card FeatureDescription
- Balance transferYou can transfer your higher-rate balances from other cards onto this card on a 15.49% - 25.49% variable APR.
- Account securityIn case of any suspicious transaction, you’ll get notified by text, email and phone. You can also lock your card through the mobile app.
- Access to EnoYou’ll have access to Eno, a digital assistant which can help you see your transaction history and balance information.
"The Capital One Quicksilver Credit Card comes with a complimentary concierge service, which is an underutilized benefit card holders have access to for personalized assistance in dining, entertainment and travel bookings." - Alene Laney, Credit Card Journalist
Understanding the Fine Print
Reading the fine print to understand Capital One Quicksilver Rewards Card’s APRs, cash back rates, balance transfer fees and cash advance fees can help you make a better and more informed decision in terms of whether the card is right for you.
- Card FeatureAmount or Rate
- Annual Fee$0
- Cash Back Rewards
- Rewards Rate1.5% Cash Back
- Airline Benefits
The Capital One Quicksilver Rewards card has a high APR of 20.49% and it applies to purchases, cash advances and balance transfers. The due date of interest payment is at least 25 days after the close of each billing cycle. You'll accrue interest on cash advances and balance transfers from the date of the transaction.
Balance Transfer APR and Fee
This card's variable balance transfer APR is 15.49%, 21.49% or 25.49%, based on your creditworthiness. You'll pay no fee if you transfer the balance using this APR. For balance transfers at a promotional APR, a 3% fee will be charged.
Cash Advance Fee
With this card, you'll be charged either 3% of the total cash advance amount or $10, whichever is greater. If you take out a $1000 cash advance, you'll pay a $30 cash advance fee.
Cash Back Rewards Rate
This card has a flat cash back reward rate of 1.5% on every purchase and you can get unlimited rewards. For example, if you spend $120 buying groceries, you'll get a $1.80 cash back reward.
You can head over to The Best Rewards Credit Card 2022 to look over APRs and various fees associated with different cards to compare and choose the right one for your needs. If your card is not on that list, check its website for more information. The Credit Card Agreement Database maintained by the Consumer Financial Protection Bureau is also a good resource for information.
Who Should & Shouldn’t Consider Capital One Quicksilver Rewards?
Other Considerations for Capital One Quicksilver Rewards
Your history with credit cards may impact the decision to get the Capital One Quicksilver Rewards card. If you’re a first-time user of credit cards, you’ll have different requirements than someone who has been using credit cards for a while.
Things to Consider if This Will Be Your First or Only Credit Card
Since this card offers a 0% introductory APR for the first 15 months, it will be a good option for you if you plan on making expensive purchases. You should be able to pay off that amount in the first 15 months. You would also get a $200 early spend bonus after spending $500. After the introductory period, the APR would be 20.49%, which is a fairly high amount.
Things to Consider if This Will Be an Additional Card in Your Wallet
This card has a high balance transfer APR; thus it won’t be a good option for transferring the outstanding balance from other cards. It offers a 1.5% cash back reward on every purchase; however, you might have other cards that offer a higher reward rate and extra benefits.
While traveling internationally, you should prefer using this card as it has no foreign transaction fee and a $0 annual fee.
MoneyGeek follows a six-step process that involves collecting credit card information, standardizing data points, potential cardholder profiles, considering annual and introductory bonuses, establishing the card values and reviewing data monthly to reprocess rankings.
How Capital One Quicksilver Rewards Compares to Other Cards
The Capital One Quicksilver Rewards Credit card has no annual or foreign transaction fees and it offers a flat cash back reward rate on every purchase. Additionally, the introductory APR makes it a unique option among other cards.
In-Depth Credit Card Comparisons:
- Capital One Quicksilver Rewards vs Capital One SavorOne Rewards
- Capital One Quicksilver Rewards vs Chase Freedom Student
- Capital One Quicksilver Rewards vs Capital One QuicksilverOne Rewards
Quick Comparison of Capital One Quicksilver Rewards
Capital One Quicksilver Rewards
- Annual Fee: $0
- Purchase APR: 20.49%
- International transaction fee: $0
- Cash back rate: 1.5%
- Mini Verdict: Ideal for travellers and people looking for straightforward cash back reward rates.
American Express Cash Magnet
- Annual Fee: $0
- Purchase APR: 18.99%
- International transaction fee: 3%
- Cash back rate: 1.5%
- Mini Verdict: Best suited for people seeking a card with flat cash back reward rate.
Other Helpful Decision-Making Q&As
The following frequently asked questions about the Capital One Quicksilver Rewards Card will help you make an informed decision about whether you should apply for the card.
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If you’re not sure that choosing this card is a good idea, you can look at The Best Cash Back Credit Cards of 2022 to compare different cards and select the best one based on your needs.
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