Capital One Quicksilver Student Rewards Review
Capital One’s Quicksilver Student Rewards is an excellent option if you want to begin building credit while enjoying rewards. It earns a flat 1.5% cash back rate for all purchases with no annual fee.
With the number of credit cards currently offered to students, the Capital One Quicksilver Student Rewards can be one of your top options. It has several features tailored to students, such as 1.5% cash back on all purchases and no annual fee. Not only can you use your rewards in a number of ways, but you also don’t have to redeem them within a specific period. As long as your account is active, the points remain valid. MoneyGeek’s guide highlights the various features and perks associated with the Capital One Quicksilver Student Rewards card so you can decide whether it’s the right card for you.
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 Student Rewards at a Glance
It’s never too early to start building credit. Building credit in college with the Capital One Quicksilver Student Rewards card can help you jump start your journey into independence. You can enjoy perks like earning 1.5% cash back for every purchase you make using your card. You also get exclusive deals for dining, music and sports events.
- Capital One Quicksilver Rewards for Students
A good no annual fee student credit card that offers cash back
- Limited-FairCredit Needed
- $0Annual Fee
- 1.5% Cash BackRewards Rate
Pros & Cons Explained
The Capital One Quicksilver Student Rewards card offers multiple advantages, making it a strong contender for students building their credit. However, there are also certain things you may want to consider before making your decision.
- It only requires a fair credit scoreYou don’t need a good credit score to qualify for the Capital One Quicksilver Student Rewards. A score of at least 580 can be enough for eligibility.
- Unlimited cash back on all purchasesUsing the Capital One Quicksilver Student Rewards card for purchases allows one to earn 1.5% cash back. You can use cash back rewards in various ways, such as redeeming it as cash, using it to pay your statement or converting it into gift cards for different merchants.
- Offers travel rewardsUsing your card to pay for your ticket automatically provides travel insurance. You’ll also have access to travel assistance service 24/7 at any time of year, which includes emergency card replacement and a cash advance if your card is lost or stolen.
- No annual feeOne of the most significant advantages of the Capital One Quicksilver Student Rewards card is no annual fee. You can enjoy the rewards and benefits it provides without worrying about a yearly fee.
- No foreign transaction feeIf traveling or studying abroad, not having to pay a transaction fee for purchases made outside the U.S. can significantly reduce your costs.
- No early spend bonusOther cards provide introductory offers to new cardholders. New users of Capital One Quicksilver Student Rewards won’t have this benefit.
- High interest rateIf you can't pay your balance in full by your due date, it could significantly increase because of the high interest. If you’re unable to manage it early, it could put you in debt.
- Exclusively available to studentsSince this card is primarily for students, you need to be enrolled in a 4-year university, community college or other educational institution to qualify.
MoneyGeek makes a monthly analysis of the best credit cards for several categories. Although the Capital One Quicksilver Student Rewards card isn’t part of this month’s list, you can check out the best student credit cards of 2022.
Bonuses & Rewards Explained
Besides not having to pay an annual or foreign transaction fee, you’ll also experience multiple benefits with a Capital One Quicksilver Students Rewards card. Here are some notable ones.
Earn 1.5% cash back across all categories
You can earn unlimited 1.5% cash back on your purchases. You don’t have a daily cap, so you can use your card as much as you want and as frequently as you want to take advantage of this reward.
Let’s say you purchased an item us ing your Capital One Quicksilver Student Rewards card and then found it at a lower price. You can get a reimbursement of the difference if it’s within the first 120 days of your purchase.
Receive perks for music and sports events
Having the Capital One Quicksilver Student Rewards card makes it possible to have VIP experiences and packages. You may even be eligible for discounts and on-site benefits, such as access to lounges.
Other Features Explained
The Capital One Quicksilver Student Rewards card has other attractive features, such as security features and methods for managing your account effectively.
- Card FeatureDescription
- Extended WarrantyUsing your card for a qualified purchase automatically extends its warranty without additional cost.
- Complimentary Concierge ServiceYou can get personalized assistance for your dining, entertainment and travel needs at any time of the day, any day of the year.
- $0 Fraud LiabilityAs long as you report a lost or stolen card right away, you won’t be held liable for any unauthorized purchases or activities.
Use the Capital One Quicksilver Student Rewards to build credit while earning rewards. Although it doesn’t offer a tiered reward structure, you can earn unlimited 1.5% cash back from your purchases daily.
Understanding the Fine Print
To determine whether this card is suited for you, MoneyGeek’s review of the Capital One Quicksilver Student Rewards dives into rates and fees associated with the card. These include interest rates on purchases, cash advances and balance transfers. Knowing how much cash back you can earn allows you to determine the suitability of the card for you based on your credit card preferences.
- Card FeatureAmount or Rate
- Annual Fee$0
- Cash Back Rewards
- Rewards Rate1.5% Cash Back
- Airline Benefits
The Capital One Quicksilver Student Rewards has a relatively high APR of 26.99%. That’s for purchases, cash advances and balance transfers. If you’re unable to pay your statement in full by your due date, your balance may increase exponentially.
Cash Back Reward
College students spend $1,400 to $2,100 per month, which translates to an annual average of $21,000. If you use your card for your purchases, that potentially earns you $315 a year that you can use for other things.
Balance Transfer APRs and Fees
If you transfer your balance at the APR rate of 26.99%, you won’t pay a fee. However, if you do a transfer when a promotional APR is in place, a 3% transfer fee will apply. For example, you’ll have a $60 balance transfer fee if you transfer a $2,000 balance during a period when the APR is lower.
Cash Advance Fees
Cash advances are subject to a fee of either 3% or $10, whichever is greater. You will have to pay a $10 fee if your cash advance amounts to $333 or lower.
Comparing the Capital One Quicksilver Student Rewards card to other student credit cards may help you determine whether it suits your needs and preferences. You can see how other APRs and available rewards measure up to the Capital One Quicksilver Student Rewards.
If you’re already using a credit card and would like to see if Capital One Quicksilver Student Rewards is worth applying for, you can use the mobile app to check out their usual rates and fees. You can also find helpful information from your credit card statements.
Who Should & Shouldn’t Consider Capital One Quicksilver Student Rewards?
Other Considerations for Capital One Quicksilver Student Rewards
It's best to consider several things before you decide to get the Quicksilver Student Reward card. If you intend to use it as your sole credit card, you need to look into your spending habits to ensure you can maximize the benefits it offers. If you’re already a cardholder, you might want to see how its features can complement those of your current cards.
Things to Consider if This Will Be Your First or Only Credit Card
If you’re planning to use the Capital One Quicksilver Student Reward as your first credit card (or your only one at that), it’s a solid option. It’s tailored to students, so even if you have a limited credit history or a fair credit score, you will likely qualify. The card offers a flat 1.5% cash back for all purchases, regardless of category, so you can use it from food to school supplies and still earn rewards.
On the other hand, you will need to monitor your spending. If it’s the only card you have, you may end up using it for all your purchases. Remember that it has a 26.99% APR, which is high compared to other student credit cards. If you can manage your spending and pay your balance in full each month, it may work to your advantage. If you can’t, and you end up carrying your balance over to the following month, the high interest becomes a disadvantage.
Things to Consider if This Will Be an Additional Card in Your Wallet
The Capital One Quicksilver Student Rewards card offers cash back of 1.5% across all categories. Comparing this card’s rewards to your existing cards’ rewards may prove that its rate is higher in specific areas. If it does, you can divert some of your spending to these areas so you can maximize its cash back benefits.
MoneyGeek cautions you from using this as a balance transfer card because of the 26.99% APR. It may help you consolidate your loans, but the interest rate may quickly become challenging.
Check your other credit cards’ annual fees. If all of them have annual fees, you may want to consider getting the Capital One Quicksilver Student Reward card. It’ll allow you to have an additional line of credit but won’t require you to pay another annual fee.
MoneyGeek follows a standardized, six-step process to review the various credit cards in our database, beginning with collecting accurate and up-to-date credit card information. We assigned these standardized weights and defined cardholders’ spend profiles. MoneyGeek considers the cards' annual and introductory bonuses before ranking these across different categories. We do monthly reviews to ensure our published ratings are updated.
How Capital One Quicksilver Student Rewards Compares to Other Cards
The Capital One Quicksilver Student Rewards is a solid option for students who want quality rewards without paying an annual fee. However, your preferences and spending habits will determine which credit card best suits you.
Quick Comparison of Capital One Quicksilver Student Rewards
Capital One Quicksilver Student Rewards
- APR: 26.99%
- Annual Fee: none
- Cash Back: Unlimited 1.5% on all purchases
- Foreign Transaction Fee: none
- Credit Needed: Limited to Fair
- Best For: Students studying either locally or abroad who want to to build credit while enjoying cash back rewards
Destiny Unsecured Mastercard
- APR: 24.9%
- Annual Fee: $59
- Cash Back: None
- Foreign Transaction Fee: 1%
- Credit Needed: Poor to Fair
- Best For: Students looking for their first credit card or those with poor credit scores
Other Helpful Decision-Making Q&As
Choosing a credit card is a major decision. It’s best to have all of the information you need before making a decision. Here are the most commonly asked questions about the Capital One Quicksilver Student Rewards card.
Still not sure about this card? Consider these options.
Capital One Quicksilver Student Rewards is an excellent option for students looking for their first credit card. It offers many advantages, such as $0 annual fee and unlimited 1.5% cash back for all purchases. However, you’ll need to keep its high APR in mind while spending. If you’re not sure this is the card for you, feel free to explore other student credit cards or cash back cards.
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