Updated Jan 22, 2021 | Published Oct 13, 2020 • 10 min read
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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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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).
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.
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.
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.
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 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
Balance Transfer APR
Cash Advance APR
0% for 15 months, then 15.49% - 25.49% (Variable)
15.49% - 25.49% (Variable)
Foreign Transaction Fee
Balance Transfer Fee
Cash Advance Fee
3% of the amount of the cash advance, but not less than $10
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 moreCapital One Cash Advances: What They Are and Why to Avoid Them
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
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
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.
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.
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.
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.
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.
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.
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.
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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