Capital One® Quicksilver® Cash Rewards Credit Card Review
November 7, 2018
Editorial Disclaimer: Information in these articles is brought to you by CreditSoup. Banks, issuers, and credit card companies mentioned in the articles do not endorse or guarantee, and are not responsible for, the contents of the articles.
The Capital One® Quicksilver® Cash Rewards Credit Card offers an exceptional rate of cash-back without charging an annual fee. In addition to ongoing rewards, consumers can also earn bonus cash just for signing up and meeting a minimum spending requirement.
Even better, the Capital One® Quicksilver® Cash Rewards Credit Card is currently offering 0% APR on balance transfers and purchases for a full 15 months. After the intro period ends, the go to rate of 15.24% - 25.24% (Variable) applies.
If you’re in the market for a cash-back card but could also benefit from zero interest for a limited time, keep reading to learn more about this card, how it works, and who should sign up.
Earn $150 after you use your card for $500 in purchases in the first 3 months
Rack up unlimited 1.5% cash-back for each dollar you spend
No annual fee
No foreign transaction fees
Get 0% APR on purchases and balance transfers for 15 months (balance transfer fee does apply). After the intro period ends, the go to rate of 15.24% - 25.24% (Variable) applies.
Capital One® Quicksilver® Cash Rewards Credit Card: Earn Rewards Without Interest
While many cash-back credit cards offer different tiers of rewards or bonus categories that rotate every quarter, the Capital One® Quicksilver® Cash Rewards Credit Card keeps your rewards game simple. No matter what you buy or how much you spend, you will earn an unlimited 1.5% cash back on every purchase.
This simple concept might provide some relief for consumers who get tired of keeping up with complicated rewards programs. With a card that offers a flat rate of cash-back, you will never have to wonder if you’re using the right card or missing out on rewards.
The 0% balance transfer offer on the Capital One® Quicksilver® Cash Rewards Credit Card is also intriguing, especially since this rate also applies to purchases. If you needed to make a large purchase that would take some time to pay off (new furniture or kitchen appliances, for example), you could sign up for the Capital One® Quicksilver® Cash Rewards Credit Card, use it to buy whatever you needed, then pay it off slowly over 15 months without paying a dime in interest.
On the balance transfer side of the equation, having 15 months with 0% APR could help you pay off old debts faster while also saving money on interest. This is especially true if you have a lot of credit card debt at a high interest rate. You will have to pay a 3% of your balance to transfer other debts to this card, but this fee can be well worth it if it helps you become debt-free by eliminating interest payments during the introductory period to focus on paying down the principal.
Another reason to consider this card is the fact that it doesn’t charge an annual fee. The Capital One® Quicksilver® Cash Rewards Credit Card doesn’t charge foreign transaction fees either, which means it is the perfect card to use for purchases made overseas or online purchases made with overseas vendors.
Finally, don’t forget you can earn a quick $150 in cash just for signing up and spending $500 on your card within three months of account opening. While this signup bonus isn’t as big as some other cash rewards and travel credit cards, the $500 minimum spending requirement makes it easier to earn.
Why You Might Want to Skip the Capital One® Quicksilver® Cash Rewards Credit Card
While the reasons above may be enough for you to sign up, the Capital One® Quicksilver® Cash Rewards Credit Card doesn’t offer the highest rate of cash-back among cards without an annual fee. For example, the no fee Citi® Double Cash Card offers 2% cash-back on everything you buy — 1% when you make the purchase and 1% when you pay it off.
If you’re willing to pay an annual fee — at least after the first year — you could also score a higher rate of rewards and a larger signup bonus. One cash-back option to consider is the Capital One® Savor® Cash Rewards Credit Card since it offers a one time $500 cash bonus after you spend $3,000 on your card within three months. This card also lets you earn 4% cash-back on dining and entertainment, 2% back at grocery stores, and 1% back on all other purchases.
Finally, the Capital One® Quicksilver® Cash Rewards Credit Card comes up short if you’re someone who wants to redeem points for travel. While the card does let you redeem points for statement credits, you can’t transfer them to airline partners or use them to book travel directly.
If you prefer a card that lets you earn points for travel, you consider a card like the Chase Sapphire Preferred® Card instead. This card does charge an annual fee, but you earn 50,000 bonus points after you spend $4,000 on purchases within three months of account opening. You also earn 2x points on dining and travel and 1 point per $1 on all other purchases. On the travel front, you can use your points to book travel through the Chase Ultimate Rewards portal or transfer them to airline and hotel partners like Marriott Rewards, Southwest Airlines, United MileagePlus, or British Airways at a 1:1 ratio.
Should You Get the Capital One® Quicksilver® Cash Rewards Credit Card?
While the Capital One® Quicksilver® Cash Rewards Credit Card doesn’t offer the biggest signup bonus or the highest rate of cash-back, there are some notable advantages that come with signing up for this card. Not only can you earn cash-back without ever paying an annual fee, but you won’t have to worry about rotating or bonus categories or exceeding rewards limits. Plus, the 0% balance transfer offer is hard to beat.
With that in mind, the Capital One® Quicksilver® Cash Rewards Credit Card is best for:
Someone who wants to earn cash-back without any hassle
Consumers who are against paying annual fees for a credit card
Anyone who wants to redeem points for statement credits instead of travel
People who could benefit from 0% APR on purchases or balance transfers for 15 months. After the intro period ends, the go to rate of 15.24% - 25.24% (Variable) applies.
Whether you should sign up for the Capital One® Quicksilver® Cash Rewards Credit Card or not depends on your rewards goals, your spending style, and whether a card with 0% APR could help you save money on interest or pay down debt. Look at your unique situation and ask yourself what you want in a rewards card, then take the time to compare several cash-back or travel credit cards to see how they stack up. With enough research, it won’t be difficult to find the perfect card for your needs.