2021 Review: Capital One Quicksilver Student Cash Rewards Credit Card – An Easy Starter Card
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With 1.5% cash back for everything and no annual fee, the Quicksilver Student Cash Rewards is a simple but effective way to earn some rewards while building up your credit scores. You must be a current or prospective student to qualify.
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Our Rating: 4 Out of 5 Stars
We give the Capital One Quicksilver Student Cash Rewards Credit Card 4 out of 5 Stars. It’s reasonably rewarding, and there’s nothing actually wrong with it, but it’s outcompeted by some other student cards with better rewards and intro bonuses.
Why We Like It
- Decent flat-rate rewards for every purchase: 1.5% cash back
- Chance for a higher credit line in as little as six months
- No foreign transaction fee
- No annual fee
- Easy way to learn how to use a credit card and start building credit
Why It Could Be Better
- No welcome bonus (usually)
The Quicksilver Student isn’t the most exciting offer on the market, but it’s a decent rewards card in its own right. A flat rate for every purchase, no annual fee, no foreign transaction fee; what more do you need?
If you’re satisfied with that — and student cards usually don’t have much more — this might be the card for you. Capital One is a reputable issuer, and the Quicksilver Student should make a fine starter card to get your feet wet in the world of credit.
Insider Advice: Getting the Most Out of Your Card
- One card for gas, books, going out, and everything else: Some cards have bonus categories for extra cash back on certain purchases, while others don’t. With a flat rate of 1.5% cash back, the Quicksilver Student is great for a variety of spending. But if, like many people, your spending tends to cluster — e.g., you buy a lot of groceries or gas, eat out a lot, or spend a lot of money online — you should check out student reward cards with bonus categories (some of them come with introductory bonuses, too).
- Earn a higher credit limit in six months: Capital One may consider increasing your credit limit after just six months. This can be very helpful for student cards, where your credit limit will likely start on the low side. A higher limit gives you more spending power and makes it easier to keep your credit utilization down. Pay your bill on time every month (for this and any other cards/loans) and try to avoid maxing out your card for the best shot at a credit line increase.
- Manage your credit like a pro: Use Capital One’s CreditWise service for a birds-eye view of your TransUnion and Experian credit reports. Look for alerts about new activity, or changing account status. You can see a VantageScore credit score for those reports too, and if all goes well, you can watch your scores go up. CreditWise will provide tips for improving your specific credit situation.
- Shop smarter (with coupons): Capital One Shopping is a free browser extension that’ll automatically try coupons when you buy stuff online. You can use it even if you’re not a Capital One cardholder, and you don’t get any special perks for having the Quicksilver Student, but it might be worth a shot — especially if a good chunk of your spending is online.
- Explore your card: Credit cards come with a lot of features, some useful and some not so useful, so explore your account online and check the Guide to Benefits that comes with your card. Perks like the concierge could save you some time and effort, like if you’re adventuring in a new city and looking for a place to eat.
Redemptions with the Quicksilver Student Cash Rewards are simple.
- Statement credits (best option)
- Cover a recent purchase
- Paper checks
- Online purchases via PayPal
- Gift cards
We think statement credits are the best option here because they simply reduce your account balance, and they only take a moment. Take note that statement credits don’t count as monthly payments.
Covering a recent purchase will have the same effect as redeeming for a statement credit; it’ll likely just take some extra work. Paper checks are a bit tedious and cumbersome compared to the online methods.
Gift card redemptions may not provide the full value for your cash back, so check the details carefully if you go this route.
- Automatic credit line review: You could be automatically considered for a credit limit increase after six months.
- Capital One CreditWise: Monitor activity on your TransUnion and Experian credit reports, and see your VantageScore 3.0 credit scores based on those reports.
- Capital One Shopping: Download the Capital One browser extension, select coupons in your account, and they’ll be automatically applied to any eligible purchases. Anyone can use this service, cardholder or not.
- Concierge service: 24/7 access to a concierge for help with dinner reservations, travel recommendations, finding entertainment tickets, and more.
- Premier Culinary Experiences: Gain access to special dining events like intimate dinners, curated cuisines, and rare chef collaborations.
- Must-See Music Events: Get access to concert and festival tickets, as well as special VIP packages, cardholder lounges, and more.
- Big-Time Sports Events: Cardholders can find VIP access, discounts, on-site perks, and more at sporting events.
- Extended Warranty: If an eligible purchase includes a manufacturer’s warranty of three years or less, it can be extended by an additional year.
- Travel Accident Insurance: Get coverage against accidental dismemberment, death, blindness, deafness, and more, up to $250,000, while traveling by common carrier.
- Travel Assistance Services: Get help if your card is lost or stolen while traveling, and get sent a replacement and a cash advance.
- Virtual card numbers: Access virtual card numbers through Eno to make online purchases more securely.
The Terms & Fees
|Purchase APR||Balance Transfer APR||Cash Advance APR|
|26.99% Variable||26.99% Variable||26.99% Variable|
|Annual Fee||Foreign Transaction Fee|
|Balance Transfer Fee||Cash Advance Fee|
|$0 at this Transfer APR||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|
Most credit cards charge extra for purchases in foreign currency, but all Capital One cards omit that fee. If you happen to cross the border, you’ll have a convenient spending option with no extra charge for that convenience.
Pay your credit card bill on time, every time, and your credit scores will thank you. Eventually, as your credit reports fill out and your credit scores improve, you’ll start seeing offers for more valuable reward and travel credit cards.
The Bottom Line
If you want to get started with credit cards but you don’t want to think too much about them, the Capital One Quicksilver Student Cash Rewards Credit Card is a good option.
Capital One makes it easy to earn and redeem rewards, with no bonus categories to consider, and the account dashboards (online and mobile) are straightforward. You shouldn’t have any trouble seeing your account details and making payments.
For its rewards and credit-building benefits, the Quicksilver Student doesn’t have to cost you a dime. Just pay your statement balance in full each month to avoid interest and late fees. It should be easy to steer clear of other credit card fees too.Read more How to Build Credit With Credit Cards: The Definitive Guide
How Do I Apply for the Quicksilver Student?
Follow the link below to visit Capital One’s website and apply. The application asks for some basic personal and financial information; you’ll need to verify your student status.
What Credit Scores Do I Need To Qualify for the Quicksilver Student?
You don’t need much (if any) established credit to qualify for the Quicksilver Student, as it’s designed for students who’re new to credit. In time, with responsible use, you can improve your credit scores and qualify for more valuable cards.
Frequently Asked Questions
Who qualifies as a student when applying for the Quicksilver Student?
According to Capital One, a student is: “Anyone currently enrolled, or admitted and planning to enroll in the next 3 months, at an accredited university, community college or other higher education institution.”
Most student credit cards have criteria like this, with more or less verification required.
What happens to my Quicksilver Student card after I graduate?
Although you need to be a current or prospective student to qualify, you can continue using the Quicksilver Student card after you graduate. This is good, and in general you should keep the card open, because closing a credit card can have a negative impact on your credit.
Once you graduate, assuming you’ve used the card responsibly, you may be able to get better reward credit cards, with more valuable perks.
Alternatives to the Quicksilver Student Cash Rewards Card
How do you like the Quicksilver Student Cash Rewards? Do you like the flat 1.5% cash back rate, or would you rather have bonus categories?See our favorite student cards, some with bonus categories and some without. Best Student Credit Cards
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