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2020 Review: Capital One Quicksilver Cash Rewards – Best for All-Around Spending?

Updated Oct 26, 2020 | Published Oct 13, 202010 min read

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Capital One Quicksilver Cash Rewards Credit Card

Min Credit Level Good
Annual Fee $0
Regular APR 15.49% - 25.49% (Variable)
At a glance

The Capital One Quicksilver Cash Rewards card offers 1.5% cash back on every purchase, a solid introductory bonus, and a fairly long 0% intro APR for purchases.

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The information related to Capital One Quicksilver Cash Rewards Credit Card, Capital One QuicksilverOne Cash Rewards Credit Card, Journey Student Rewards from Capital One, and Discover it® Cash Back have been collected by Credit Card Insider and have not been reviewed or provided by the issuer or provider of these products.

Our Rating: 4 Out of 5 Stars

We give the Capital One Quicksilver Cash Rewards Credit Card 4 out of 5 stars because it can provide flat-rate cash back completely for free, although you can find slightly better rewards programs on other cards.

Why We Like It

  • 1.5% cash back for every purchase
  • The one-time intro bonus is easy to get
  • 0% intro APR on purchases for 15 months, then 15.49% - 25.49% (Variable)
  • No annual fee
  • No foreign transaction fees

Why It Could Be Better

  • No bonus categories
  • You may get a standard Mastercard version with basic benefits

Capital One Quicksilver Cash Rewards Credit Card

Our rating
Min. credit levelGood
Details
Annual Fee$0
Regular APR15.49% - 25.49% (Variable)

The information related to Capital One Quicksilver Cash Rewards Credit Card has been collected by Credit Card Insider and has not been reviewed or provided by the issuer or provider of this product.

The Capital One Quicksilver Cash Rewards card offers a simple way to earn some cash back on every purchase. If you want a card for all-around spending it might be right for you.

You’ll get 1.5% cash back on every purchase, without any limits or bonus categories to remember. And there’s a welcome bonus of $200 for spending $500 in the first 3 months after account opening.

All that comes for no annual fee, and you even get a 0% intro APR for purchases. That makes it quite a good deal, giving you a way to earn cash back and enjoy card benefits for free (assuming you avoid interest and other fees).

The Quicksilver features contactless technology, allowing for quick tap-and-go payments.

This card is designed for good or excellent credit, so you might not be approved if your credit isn’t in that range (a FICO credit score of about 700 or higher). But there are two similar cards from Capital One that are designed for fair, average, or limited credit, and one of them may work for you. There are a few important differences between these cards, though.

Card Credit Level Annual Fee Rewards
Capital One Quicksilver Cash Rewards Credit Card (This review) Good or Excellent $0
  • 1.5% cash back
  • $200 for spending $500 in the first 3 months after account opening
Capital One QuicksilverOne Cash Rewards Credit Card (Review) Fair or Average None
  • 1.5% cash back
Journey Student Rewards from Capital One (Review) Fair or Average $0
  • Up to 1.25% cash back

Insider Advice: Getting the Most Out of Your Card

  • Use it for all of your purchases: Buy anything and everything with the Quicksilver Cash Rewards to earn a flat 1.5% cash back rate on every purchase.
  • Use it with another card: Or, consider combining this card with a different rewards card with bonus categories. Then you can use that other card to earn more cash back in those spending categories, while using the Quicksilver for all your other purchases.
  • Reach the welcome bonus: Get $200 for spending $500 in the first 3 months after account opening.
  • Take advantage of the intro offer: Take advantage of the intro 0% interest rate on purchases for 15 months (then 15.49% - 25.49% (Variable)) to save some money on interest payments.

The Rewards

Earning

Spending Rewards
  • 1.5% cash back for every purchase
Welcome Bonus Offer
  • $200 for spending $500 in the first 3 months after account opening

There are no bonus reward categories with this card, just a simple 1.5% cash rewards rate for everything you buy. And that welcome bonus is quite easy to earn, and a better deal than some other cards.

If you’re sick of trying to remember which card to use for which purchases, the Quicksilver Cash Rewards makes it easy to get some cash back without giving it a second thought.

Redeeming

You can redeem your cash back for a statement credit, whenever you want and for any amount. Cash back won’t expire as long as your account remains open and in good standing. You can also redeem your cash back for gift cards, though statement credits are your easiest option.

Many credit cards require you to reach a certain amount before you can redeem it, and then you may only be able to do so in certain denominations. So being able to redeem any amount whenever you want is pretty convenient.

The Chase Freedom Unlimited® (Review) and Discover it® Cash Back (Review) both let you redeem any amount at any time, too. The Citi® Double Cash Card – 18 month BT offer (Review) requires you wait until you accumulate $25 in cash back, but then you can redeem any amount over that. And the Blue Cash Everyday® Card from American Express (Review) and the Blue Cash Preferred® Card from American Express (Review) cards are more limited still, making you redeem in increments of $25.

The Benefits

The Quicksilver Cash Rewards card comes with a fairly basic benefits package. But basic as it may be, you could still find some use for these perks. Cardholders can monitor one of their credit scores, and you’ll get some coverage from shopping and travel protections. Those protections could turn out to be pretty helpful, given the right situation.

  • Capital One CreditWise: The CreditWise service provides free access to one of your VantageScore 3.0 credit scores, based on your TransUnion credit report. You can monitor your score over time and get alerts about any changes.
  • Extended Warranty: Will double an eligible manufacturer’s warranty protection up to one additional year, for warranties of three years or less
  • Auto Rental Collision Damage Waiver: Provides coverage for collision damage and theft of eligible rented vehicles, when you decline the rental company’s own insurance
  • Travel Accident Insurance: Up to $100,000 in coverage is available for accidental loss of life, limb, sight, speech, or hearing while traveling by common carrier.
  • Personalized Payment Date: Choose your own due date to make paying bills more convenient.
  • Security and Account Alerts: Get notified about changes to your account or unauthorized activity.
  • Capital One Second Look Fraud Coverage: Automatically monitors your account 24/7 for fraudulent activity

The Terms & Fees

Purchase APR Balance Transfer APR Cash Advance APR
0% for 15 months, then 15.49% - 25.49% (Variable) 15.49% - 25.49% (Variable) 25.49% (Variable)
Annual Fee Foreign Transaction Fee
$0 None
Balance Transfer Fee Cash Advance Fee
$0 3% of the amount of the cash advance, but not less than $10
Penalty APR Late Fee Returned Payment Fee
None Up to $40 None

This card can be completely free to use because there’s no annual fee. Just pay your statement balance in full each billing period, and interest charges will never accrue on your purchases. That will let you earn cash back at no cost whatsoever.

You can also make good use of the 0% intro rate. That gives you for 15 months to pay off purchases at no interest.

If you have a card with a 0% rate you won’t need to pay your statement balance in full to avoid interest. But you’ll still need to make at least the minimum payment every month or you could lose your 0% rate.

There are no foreign transaction fees with this card, making it a good pick to bring with you outside the country. And it’s a Mastercard, so you won’t have trouble finding merchants that accept it. All Capital One cards come with no foreign transaction fee, in fact.

Read more Capital One Cash Advances: What They Are and Why to Avoid Them

The Bottom Line

The Capital One Quicksilver Cash Rewards Credit Card is a good option if you want to earn some cash back for every purchase, with a nice signup bonus too.

Get 1.5% cash back no matter where you shop, without worrying about bonus categories. And don’t forget to spend enough in the first few months to earn your bonus cash back.

You’ll pay no annual fee for the privilege of getting cash back, and you get a 0% intro rate on purchases for quite a while. It’s not a bad offer at all, but you might find some other cards to be more rewarding. Check out some alternatives to the Quicksilver Cash Rewards card below, with different reward programs and benefits.

How Do I Apply for the Quicksilver Cash Rewards Card?

You can apply now on Capital One’s website by following the link below. Capital One will check your credit with one or all three of the major credit bureaus when you apply.

Most people will get an instant decision, either approved or denied, but in some cases it could take longer. Capital One may request more information from you.

What Credit Scores Do I Need to Qualify for the Capital One Quicksilver Cash Rewards Credit Card?

You should have good credit before applying for the Capital One Quicksilver Cash Rewards card.

Your credit scores would need to fall within the ranges of 670–739 for FICO and 700–749 for VantageScore.

However, there are other factors that credit card issuers consider. They’ll take your income, source of income, and monthly rent or mortgage payments into account. The added information might lead to you being approved, despite having lower scores than what’s recommended.

But that also means there’s a chance you could be denied even if you have high enough credit scores.

Qualifications and Requirements

  • Must be 18 to apply
  • Personal identifying information: Name, Social Security number
  • Address and contact information: Email, phone number, address
  • Financial information: Total annual income, source of income, monthly mortgage/rent payment
  • Must not:
    • Have applied for a Capital One credit card two or more times in the last 30 days
    • Have five or more open credit card accounts with Capital One
    • Have a past due Capital One credit card account
    • Be over the credit line on a Capital One credit card
    • Have had a Capital One credit card that was charged off within the past year
    • Have an unresolved, non-discharged bankruptcy

Capital One Quicksilver Cash Rewards Credit Card

Our rating
Min. credit levelGood
Details
Annual Fee$0
Regular APR15.49% - 25.49% (Variable)

The information related to Capital One Quicksilver Cash Rewards Credit Card has been collected by Credit Card Insider and has not been reviewed or provided by the issuer or provider of this product.

Frequently Asked Questions

What’s the Capital One Quicksilver Cash Rewards card’s credit limit?

There is no specific credit limit for the Quicksilver card. Your credit limit is determined by a number of different factors, including your credit scores, credit history, and income.

Can my Capital One Quicksilver credit line be increased?

Capital One may consider you for a credit limit increase from time to time, if you show responsible behavior. Or, you can request a credit line increase manually. You’ll need to provide information like your total annual income, employment status, and monthly mortgage or rent payments.

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Alternatives to the Capital One Quicksilver Cash Rewards Credit Card

Journey Student Rewards from Capital One

  • Min. credit levelLimited Credit History
  • Annual Fee$0
  • Regular APR26.99% (Variable)

If your credit isn’t good enough for the Capital One Quicksilver card, consider the Journey Student Rewards from Capital One (Review). It’s available to anyone, despite its name. You don’t need to be a student to apply.

It’s not the most rewarding card but it has no annual fee, so you can use it to improve your credit for free and then go for a better card later.

This credit card offers one benefit that the Quicksilver lacks: You may be automatically considered for a higher credit line after six months. This is a handy feature to have on a student card, or any card designed for average credit, because they typically come with credit limits on the low side, like $1,000 or less. So this will increase your spending power and it will be better for your credit utilization.

The Quicksilver card is the better choice, but if you don’t have good enough credit to qualify, you could do worse than the Journey Student.

Spending Rewards
  • 1% cash back for every purchase
    • 1.25% cash back if you pay on time
  • $60 streaming credit: $5 per month for 12 months on select streaming services, when you pay on time
  • Access a higher credit line: You may be automatically considered for a higher credit line after six months.
  • Capital One CreditWise: The CreditWise service provides free access to your VantageScore 3.0 credit score, based on your TransUnion credit report.
  • Shopping protections: Get access to extended warranties for eligible purchases, and potentially more.
  • Travel protections: Rental car insurance, roadside assistance, and travel accident insurance
  • Purchase and Balance Transfer APR: 26.99% (Variable)
  • No foreign transaction fee
  • Annual fee: $0

Citi® Double Cash Card - 18 month BT offer

Apply Now

securely on the issuer's website

Apply Now

securely on the issuer's website

  • Min. credit levelExcellent
  • Annual Fee$0
  • Regular APR13.99% – 23.99% (Variable)

1.5% cash back on every purchase is pretty good, but you can get even better than that with the Citi® Double Cash Card – 18 month BT offer (Review). This is the most rewarding general-use cash back credit card with no annual fee on the market today.

The 2% cash back you’ll earn from the card works a bit different than with other cards. You’ll get the first 1% cash back when you make your purchase, and then the other 1% after you pay it off. You have to pay at least the minimum due on time to earn cash back.

This card could also be useful thanks to its long 0% interest balance transfer offer. If you have another card with a large balance and high interest rate, you can transfer the debt to this card in order to save yourself some money on interest payments. Although, its intro offer only applies to balance transfers, so you’ll lose the 0% rate for purchases.

Spending Rewards
  • 2% cash back for every purchase you make (must pay at least the minimum due on time)
    • 1% back when you make a purchase
    • 1% back when you pay for that purchase
  • Free FICO credit score: Keep tabs on your FICO Bankcard Score 8, based on your Equifax credit report.
    Personal concierge service: Call 1-800-508-8930 to speak with your own personal assistant, for help with all kinds of non-emergency tasks.
  • Citi Private Pass: Get preferred access and presale tickets to select events and experiences, including music, sports, dining, and theater.
  • Quick customer service: Call customer support and say “representative” to be connected with a human rep more quickly than usual.
  • Purchase APR: 13.99% – 23.99% (Variable)
  • Balance Transfer APR: 0% for 18 months on Balance Transfers, then 13.99% – 23.99% (Variable).
  • Annual fee: $0
  • Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
  • To earn cash back, pay at least the minimum due on time.
  • Balance Transfer Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 13.99% – 23.99%, based on your creditworthiness.
  • Balance Transfers do not earn cash back.
  • If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
  • There is a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater.
  • The standard variable APR for Citi Flex Plan is 13.99% – 23.99% based on your creditworthiness. Citi Flex Plan offers are made available at Citi’s discretion.

HSBC Cash Rewards Mastercard® credit card

Apply Now

securely on the issuer's website

Apply Now

securely on the issuer's website

  • Min. credit levelFair
  • Annual Fee$0
  • Regular APR14.99–24.99% Variable

When it comes to cash back earning potential, the HSBC Cash Rewards Mastercard® credit card (Review) falls between the Quicksilver Cash Rewards and the Citi Double Cash, described above.

This rewards program is almost identical to the Quicksilver, with 1.5% cash back for everything, but it also has a 10% anniversary bonus. So after the bonus is applied, you’ll be earning the equivalent of 1.65% cash back with this card.

So clearly, you’ll be earning 10% more cash back with the HSBC card than the Capital One card. And for the first 12 months, you’ll actually earn 3% cash back for your purchases, thanks to the introductory bonus (3.3%, after that 10% boost).

The HSBC Cash Rewards comes with a set of protections that’s similar to what you’ll get with the Quicksilver, with an added airport concierge benefit. That provides a 15% discount on airport services like escorts, luggage handling, expedited check-in and security screening, and more.

Spending Rewards
  • 3% cash back on purchases in the first 12 months, up to $10,000 spent
  • 1.5% cash back on all other purchases
  • Free FICO credit score on monthly statement: You can see one of your FICO Score 8 credit scores for free with this card. It’s based on your Equifax credit report.
  • Mastercard Airport Concierge: Get a 15% discount on airport meet and greet services. Airport concierges are available to escort you through the terminal, in some cases expediting you through security or immigration.
  • Travel protections: MasterTrip travel assistance, rental car insurance, roadside assistance, travel accident insurance
  • Shopping protections: Purchase assurance protection, price protection, and extended warranty
  • Purchase and Balance Transfer APR: 0% for 12 months, then 14.99–24.99% Variable
  • No foreign transaction fee
  • Annual fee: $0
  • Earn unlimited 1.5% cash back on all purchases.
  • Earn an Introductory 3% Cash Back on all purchases in the first 12 months from Account opening, up to the first $10,000 in purchases
  • 10% Anniversary Bonus on all Cash Rewards earned once a year.
  • No Annual Fee.
  • 0% Intro APR for 12 months on purchases and balance transfers, then a 14.99% – 24.99% variable APR.
  • No Foreign Transaction Fees.
  • $0 liability for unauthorized purchases.
  • Terms Apply.
  • See Rates & Fees

Discover it® Cash Back

  • Min. credit levelGood
  • Annual Fee$0
  • Regular APRSee Terms

The Discover it® Cash Back (Review) isn’t a flat-rate cash back rewards card like the Quicksilver. But it can be great for non-category purchases for the first year.

Instead of just 1.5% back for every purchase, the Discover it Cash Back provides 5% back in select, rotating categories that you’ll need to activate. And for your first year you’ll get double that, for 10% cash back in the bonus categories and then 2% cash back for every other purchase. So you’ll have quite a bit more earning potential than you would with the Quicksilver, getting at least 2% back for every purchase and sometimes much more.

But you won’t earn unlimited cash back in the 5% categories, unfortunately. Once you reach $1,500 in bonus category spending per quarter you’ll drop to 1% cash back.

You’ll get better benefits with the Quicksilver card, though. Discover discontinued many of its benefits, so there’s nothing in the form of shopping or travel protections like the Quicksilver includes. You will get to monitor your FICO Score 8, based on your TransUnion credit report, but there’s not much else.

Spending Rewards
  • 5% cash back in categories that rotate every three months, up to $1,500 spent per quarter, then 1% (activation required)
  • 1% cash back on all other purchases
Introductory Bonus Offer
  • Cashback Match: Get double cash back for the first year, provided at the end of the first year

The 5% cash back calendar for 2020 is:

Quarter 5% Cash Back Categories
January – March Grocery Stores, Walgreens, CVS
April – June Gas Stations, Uber, Lyft, Wholesale Clubs
July – September Restaurants, PayPal
October – December Amazon.com, Target.com, Walmart.com
  • Free FICO credit score: See your TransUnion-based FICO Score 8 on statements, online, and by mobile app.
  • Cash at Checkout: When shopping at participating locations, you can get immediate cash back by charging an additional amount over your purchase for no extra fee.
  • Refer a Friend: Receive a statement credit bonus when you refer someone you know to apply for a Discover card (if that person is approved).
  • Free Social Security number alerts: Discover will let you know if your Social Security number appears on an extensive list of dark web sites.
  • Inquiry and new account alerts: Get notified about any new credit inquiries or accounts on your Experian credit report.
  • Purchase and Balance Transfer APR: See Terms for See Terms, then See Terms
  • No foreign transaction fee
  • Annual fee: $0

Capital One Quicksilver Cash Rewards Credit Card

Our rating
Min. credit levelGood
Details
Annual Fee$0
Regular APR15.49% - 25.49% (Variable)

The information related to Capital One Quicksilver Cash Rewards Credit Card has been collected by Credit Card Insider and has not been reviewed or provided by the issuer or provider of this product.

Do you use this card? How do you like it? Leave your comment about the Capital One Quicksilver Cash Rewards Credit Card below, we’d love to hear from you!

Interested in other cards for people with average credit? Take a look. Best Credit Cards for Fair or Average Credit

For rates and fees of the Blue Cash Preferred® Card from American Express, please click here.

For rates and fees of the Blue Cash Everyday® Card from American Express, please click here.

Written by

Brendan Harkness

Brendan has been writing about personal finance for over eight years, and is now taking on the challenge of bringing high quality credit education to the masses. He makes sure that Credit Card Insider is covering the most important credit topics transparently and precisely, and that we have up-to-date reviews of credit cards so you can find cards that are right for you.

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