Capital One Quicksilver Review
Capital One Quicksilver Cash Rewards Credit Card
The Capital One Quicksilver credit card is an excellent choice for a straightforward no annual fee rewards card -- it pays 1.5% cash back on every purchase. There's also an attractive introductory bonus for new card-members. Earn a one-time $150 bonus when you spend just $500 within the first 3 months of account opening. Although you might be able to earn a bit more from some other rewards cards, few cards make earning unlimited 1.5% cash back as easy as the Quicksilver card.
- Simple rewards: 1.5% cash back on everything
- $150 sign-up bonus with low spend requirement: Just $500 in the first 3 months
- No foriegn transaction fees
- 0% intro APR for 15 mos. on purchases
- No annual fee
- No intro APR on balance transfers
- High regular APRs
With no gimmicks like rotating cash back categories that require quarterly enrollments, the Capital One Quicksilver Cash Rewards Credit Card is a straightforward way to earn – you guessed it – cash.
Whether you’re buying gas and groceries, or spending at restaurants and retailers, you’ll earn 1.5% on everything.
To top it all off, the rewards don’t expire either. There’s no limit to how much you can earn.
Quick Facts about Capital One Quicksilver:
- Annual Fee: $0
- Card Type: Cash-Back
- Introductory Offer: 0% on Purchases for the first 15 months, plus a one-time $150 cash bonus after you spend $500 on purchases within the first 3 months
- Rewards: Unlimited 1.5% cash back on every purchase, 365 days of the year
- Balance Transfer Fee: 3% in the first 15 months
- Foreign Transaction Fee: None
Capital One Quicksilver Cash Rewards Credit Card Benefits
- Earn cash, no annual fee
- Learn More >>
Along with all the other benefits we just mentioned, there’s an extra bonus for travelers, too.
With zero foreign transaction fees, this card gives you the freedom you need to travel. You can use your credit card in any country the same way you would here.
This perk, combined with no annual fees, could make this your go-to card for a no-muss, no-fuss way to earn consistent cash back no matter where you are in the world.
Another compelling reason to sign up for this cashback rewards card is the one-time $150 bonus after your first $500, plus 0% APR for the first 15 months.
If you are looking to pay off a credit card balance and need to spread payments out throughout just over a year, AND you’re planning international travel, then you might have found your winner.
Okay, so we’ve given you lots to think about. Now you know who this Capital One card is for, and whether it would work for you.
You’re probably imaging yourself jet setting through Europe at this rate.
But before you say oui, let’s dive into the nitty-gritty details of the Capital One® Quicksilver® card:
No Cash Back Redemption Minimum
Let’s start with how to redeem your cash rewards. A lot of cards have a minimum redemption threshold. What that means is that you must amass, say, $25 in cashback rewards before your money can be transferred to your bank account. The Capital One Quicksilver card has no such minimum.
With this card, you’ll be able to redeem whatever amount you like, whenever you like. Why is this important? For one, it allows you to redeem rewards if you don’t spend enough on the card to regularly reach $25 in cash back. Also, if you decide to switch credit cards at some point, you can redeem whatever cash back is sitting in your account before you do.
You might prefer to hoard your cashback in 2020, but in 2025 you might find that your circumstances have changed and you need your cashback on a more consistent basis. At any rate, you have the power to choose cash back transfers that work for you.
Perfect For the Fee-Averse
Many rewards credit cards charge annual fees of $95 or more. For consumers who spend thousands of dollars each month on their cards, these fees can be worth it because they’ll end up earning more in rewards with that particular card than they would with a fee-free card.
If, however, you don’t spend that much or fees simply turn you into the cringe emoji, this card will save you some wrinkles. There’s no annual fee and also no foreign transaction fees, which will save you a bunch if you take your card abroad. We need a new name for win-win!
A Card as Flexible as Your Spending Habits
Cards with no rewards categories are called “flat-rate” reward cards.
Flat-rate reward credit cards like this one are great for people with variable spending habits who don’t want the hassle of remembering which card to use where—and when. In this case, it’s best to earn cashback everywhere and anywhere, and the Capital One Quicksilver card makes this possible.
Generous Spending Requirement for Welcome Bonus
Many credit cards offer a sign-up bonus, but the Capital One Quicksilver Rewards card doesn’t make you spend $3,000 to earn it. Instead, you’ll earn your $150 bonus after only $500 of spending within the first 3 months from account opening – a very generous offer.
Reward Points vs. Cash Back
But the Capital One Quicksilver card gives back with direct transfers to your bank account. Do you prefer to shop with points in order to save on hotels, airfare, gift cards, and other goods and services? Or do you like your money in the form of good, old-fashioned dollars?
The Capital One Quicksilver card might not be the best fit for you IF you are a person who loves their reward categories.
You Want Specific Rewards
If you know that every month you’re banking on those gasoline points, you might be able to get a card with higher cashback for this category.
Same for rotating credit card rewards categories; maybe you like the variety and prefer to plan your purchases around these incentives.
Introductory APR May Not Be For You
You also might pass on this card if you’re less interested in an introductory APR, and care more about higher, more consistent cashback rewards.
This would apply to you if you don’t have any other debt you’d like to pay off over 15 months and you feel totally ready to pay off your balance every month.
In this case, other cards can give you a higher cashback rate when you forgo the other perks.
How to Take Advantage of The Capital One Quicksilver Intro APR
The Capital One Quicksilver card offers a 0% intro APR for 15 months on purchases, but not balance transfers.
If you have a balance you’d like to transfer to save on interest, there are other great balance transfer cards available, but the Capital One Quicksilver won’t help you with that.
What this card is great for, however, is making a large purchase that you want to pay off over the course of a few months without paying interest.
Not only will you enjoy 15 months of no interest with the Capital One Quicksilver card, don’t forget that you can also earn a $150 cash bonus if you spend $500 or more on the card within three months of account opening. Of course, all purchases also earn 1.5% cash back, too.
Utilizing a credit card with a 0% intro APR on purchases can be super-helpful when you need to make a large purchase such as an appliance, furniture, or travel arrangements, but you want to take a little bit of time to pay for the purchase over time. With this card, as long as you make at least your minimum payments on-time each month and pay off your purchases in-full within 15 months of account opening, you wont’ pay a dime in interest.
Just be careful to pay the charges off before the introductory period ends. After that, the regular interest rate will apply.
What Kind of Spending Habits Are Best For This Card
Credit cards are as individual to their users as pets are to their owners. It all depends on how you use your card.
A person who uses a zero-sum budget to cover all or most of their monthly expenses with a credit card can easily spend three to 10 thousand dollars per month on their credit cards.
With 1.5% cashback, a family with a budget of $5,000 per month would bring $75 in straight-up cash every month. This is almost an extra $1,000 a year just in rewards.
Before you apply for this card, think to yourself “what’s the best way to use my credit card?” and consider what kind of budget you want to have.
Is The Capital One Quicksilver Credit Card For You?
This card is as simple and pleasurable as a handcrafted martini. It’s straightforward, honest, and keeps the frills to a minimum.
If you’re a person who knows what you like and asks for what you need (and what you need is cash and mobility) – this is the credit card for you.
It’s not the fanciest card on the market, but the consistent 1.5% cash-back, low and no-fees, plus a straightforward $150 sign-up bonus is enough to earn your trust.