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Capital One Quicksilver Cash Rewards Credit Card Review
The Capital One Quicksilver Cash Rewards Credit Card has set the bar for standardized cash back rewards on all purchases at a rate of 1.5%. Cardholders can earn on an unlimited amount, and there are no revolving spending categories or extra steps needed to redeem rewards. In addition, the cash rewards accrued don’t expire as long as the account is open.
The Capital One Quicksilver Cash Rewards Credit Card cash-back card is an ideal option for credit card users with good to excellent credit looking for flat-rate rewards on everyday purchases like gas, dining and other living expenses.
|Card||Purchase APR||Annual Fee||Intro Bonus||Credit Needed||Key features|
|Capital One Quicksilver Cash Rewards Credit Card||0% intro on purchases For 15 Months, then ongoing 15.49% – 25.49% (Variable) APR||$0||$200 after spending $500 within three months of account opening||Good to Excellent||Cash back|
What we like about it
The Capital One Quicksilver Cash Rewards Credit Card offers an uncapped 1.5% cash-back reward on all purchases. There’s no limit to what you can earn and no quarterly spending category bonuses to monitor — a real benefit to the less detail-oriented among us. Cardholders aren’t charged an annual fee, and there are no foreign transaction fees, so users won’t be hit with extra charges while on international trips.
To sweeten the deal, new card members receive a $200 cash bonus as long as they spend $500 on purchases within three months of the account opening. The low spending requirement to receive that sign-on cash bonus means that cardholders won’t feel as pressured to overspend in order to earn the reward. Other cards may offer higher sign-on cash bonuses which can tempt credit card users to spend more money than they otherwise would in pursuit of that cash bonus. And at that point, the cash bonus may not make much of a difference in terms of profit margin.
The 0% APR period of 15 months on purchases, then an ongoing 15.49% – 25.49% (Variable) APR is another bonus that card users can easily take advantage of — especially if a big purchase is looming in the near future. Of course, you should only go this route if you know you can pay off the purchase within that intro period.
The high rewards rate of the Capital One Quicksilver Cash Rewards Credit Card and no minimum redemption allows cardholders a gimmick-free way to earn cash back on every single purchase without having to parse through complex reward structures.
Things to consider
While the Capital One Quicksilver Cash Rewards Credit Card certainly offers plenty of benefits for no-fuss cash back, there are other cards that may provide better terms — depending on what you’re specifically looking for in your credit card.
This cash-back card offers no bonus rewards categories, so for users who want to optimize how much they can earn in different spending areas, this isn’t the way to go. But if you want a blanket rate that applies to everything you buy, that 1.5% cash back is a high enough rate that can pay off in the long run if you use it as your primary card throughout the year.
Capital One Quicksilver Cash Rewards Credit Card cash-back details
The 1.5% cash-back reward is applicable to all of your everyday purchases. Rewards don’t expire as long as the account is active. You can redeem your cash back in the form of statement credit, to cover a recent purchase or in the form a gift card.
Capital One Quicksilver Cash Rewards Credit Card fees
Overall, the low-fee structure of this credit card makes it a standout choice compared to other cards that may offer better or more robust rewards but stick cardholders with a hefty annual fee and other caveats that water down the benefits.
How does it compare to other cash-back cards?
The Citi® Double Cash Card offers a higher cash-back rate at 2% on all purchases with no cap and no annual fee. However, the drawbacks include a lack of a cash sign-on bonus and no 0% introductory APR on purchases (although there is a 0% APR balance transfer offer). So, if you want a higher cash-back rate and you’re okay with losing out on a sign-on bonus, that may be the right choice.
The Discover it® Cash Back is another good cash back card that comes with 5% cash back at different places each quarter like grocery stores, restaurants, gas stations, select rideshares and online shopping, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases. Discover will match the cash back you earn at the end of the first year.
While comparing these cash-back cards, it’s important to consider your financial habits and your own preferences. If you want a flat-rate cash-back card with a low fee structure, the Capital One Quicksilver Cash Rewards Credit Card might be the right choice. But if you want to invest more time monitoring spending category cash-back bonuses, the Discover it® Cash Back card will allow you to optimize your rewards. And the Citi Double Cash Back boasts a higher 2% cash-back rate on all purchases but no sign-on bonus. So, you’ll have to weigh the pros and cons of what makes the most sense based on your spending habits.
Please Note: Information about the Discover it® Cash Back and Capital One Quicksilver Cash Rewards Credit Card have been collected independently by TheSimpleDollar.com. The issuer did not provide the details, nor is it responsible for their accuracy.
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