2021 Review: Capital One Quicksilver Cash Rewards – Best for All-Around Spending?
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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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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 for purchases and balance transfers
- 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
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: $200 cash bonus for spending $500 within 3 months of account opening.
All that comes for no annual fee, and you even get a 0% intro APR for purchases and balance transfers. 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.
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: $200 cash bonus for spending $500 within 3 months of account opening.
- Take advantage of the intro APR offer: Use the intro 0% APR on purchases 15 months (then 14.99% - 24.99% Variable) to pay off some expensive purchases over time.
- Pay down your debt, for less: The Quicksilver features a 0% intro balance transfer APR as well; if you’ve got a credit card with a big balance you’re struggling to pay off, you could transfer it here and get some time to pay interest-free.
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.
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 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.
- Mastercard Concierge (Mastercard World Elite only): Anywhere you are, 365 days a year and 24 hours a day, call for personal assistance in dining, entertainment, and travel.
- 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.
- Cell Phone Protection: Pay your monthly phone bill with the card to get coverage against damage and theft.
- Price Protection: If you find an eligible purchase being advertised for less, you can be reimbursed for the price difference.
- Extended Warranty: Register to double an eligible manufacturer’s warranty protection up to one additional year, for warranties of three years or less.
- MasterRental Coverage: Provides coverage for collision damage and theft of eligible rented vehicles, when you decline the rental company’s own insurance
- Master RoadAssist Service: 24-hour toll-free dispatch for help with services like towing, battery recharge, fuel delivery, and more. Third-party fees apply.
- 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 14.99% - 24.99% Variable||0% for 15 months, then 14.99% - 24.99% Variable||24.99% Variable|
|Annual Fee||Foreign Transaction Fee|
|Balance Transfer Fee||Cash Advance Fee|
|3%||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 (even after your 0% rate expires). That will let you earn cash back at no cost whatsoever.
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 welcome 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 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.
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.
Alternatives to the Capital One Quicksilver Cash Rewards Credit Card
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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
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