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Using a cash back rewards credit card to cover your spending is a relatively easy way to earn money back on your eligible purchases. While some cards tier your rewards so that you earn more cash back in certain categories such as dining at restaurants, gas paid at the pump and select department stores, others pay you a flat amount of cash back on what you spend.
The Capital One® Quicksilver® Cash Rewards Credit Card makes earning cash back everywhere you go a breeze, and there is no annual fee. Currently, new cardmembers who sign up for the card can take advantage of a special promotional rate on purchases and balance transfers. Take a peek at the card’s details below to see how it compares to the competition.
Capital One® Quicksilver® Cash Rewards Credit Card snapshot
|Foreign Transaction Fee:||None|
|Rewards Program:||Earn unlimited 1.5% cash back on every purchase|
|Bonus Offer:||Earn a one-time cash bonus of $150 after you spend $500 on purchases within 3 months from account opening|
|Additional Notes:||Terms apply|
Capital One® Quicksilver® Cash Rewards Credit Card highlights
|May be good for:||• People who want to earn the same amount of cash back on every purchase
• People who don’t want to pay an annual fee
|May not be for:||• People who prefer a higher cash back rewards rate
• People who want to earn rewards for travel
Capital One® Quicksilver® Cash Rewards Credit Card basics
The Capital One® Quicksilver® Cash Rewards Credit Card offers cardmembers a streamlined way to earn cash back rewards. This card doesn’t have an annual fee or foreign transaction fees. Since there is no annual fee you’re not paying a premium just to have an account.
The Capital One® Quicksilver® Cash Rewards Credit Card comes with some Visa Signature® benefits such as travel upgrade and special savings at hotels, resorts and spas if you use your Card; emergency card replacement; extended warranty protection for eligible items that are purchased with your Card; and more. Be sure to view the Complete Guide to Visa Signature Benefits for details and information.
Capital One® Quicksilver® Cash Rewards Credit Card
Earning cash back doesn’t get much easier than with the Capital One® Quicksilver® Cash Rewards Credit Card. You earn 1.5% cash back on every purchase. This card has no rotating categories and sign ups are not needed to earn cash rewards; plus, cash back won’t expire for the life of the account and there’s no limit to how much you can earn
Currently, Capital One® offers a one-time $150 cash bonus to qualifying new cardmembers who spend at least $500 on purchases within 3 months from account opening. That breaks down to only $167 in charges each month to qualify. The one-time cash bonus offer is in addition to the unlimited 1.5% cash back on every purchase.
Aside from making it easy to earn rewards, Capital One® also takes the stress out of redeeming them. Rewards can be redeemed for a statement credit or a check. Capital One® Quicksilver® Cash Rewards Card members can put their rewards on autopilot by setting up automatic redemptions at a specific time each year or once they reach a certain level of cash back. You can also redeem for credits for previous purchases, gift cards, and more, however rates for these redemption options may vary and are subject to change without notice.
Capital One® Quicksilver® Cash Rewards Credit Card vs. the competition
The Capital One® Quicksilver® Cash Rewards Credit Card isn’t the only cash back rewards credit card on the market. We’ve profiled some other cards below that give it a run for its money:
Chase Freedom Unlimited®
Card highlights we want to feature:
- Qualifying new Cardmembers earn Double Cash Back: 3% cash back on all purchases in your first year up to $20,000 spent. After that, earn unlimited 1.5% cash back on all purchases.
- There is no annual fee
The Chase Freedom Unlimited® card offers qualifying new Cardmembers Double Cash Back: earn 3% cash back on all purchases in your first year up to $20,000 spent. After that, earn unlimited 1.5% cash back on all purchases.
There is no minimum to redeem for cash back and as long as your account is open your cash back rewards do not expire. There is no annual fee.
Capital One® QuicksilverOne® Cash Rewards Credit Card
Card highlights we want to feature:
- Earn unlimited 1.5% cash back on every purchase, every day
- You earn cash rewards without signing up for rotating categories
- Customized alerts and manage your account with the Capital One mobile app
If you have average, fair or limited credit, the Capital One® QuicksilverOne® Cash Rewards Credit Card may be worth a look from you. This card offers the same 1.5% cash back rewards on every purchase, as the Capital One® Quicksilver® Cash Rewards Credit Card but you don’t get the one-time $150 cash bonus.
Another difference is the annual fee, this card will cost you $39 per year.
If you think you might not qualify for the Capital One® Quicksilver® Cash Rewards Credit Card but you want the steady 1.5% cash back on every purchase, every day, consider giving the Capital One® QuicksilverOne® Cash Rewards Credit Card card a try while you work on building your credit with responsible card use.
Capital One® Quicksilver® Cash Rewards Credit Card pros
Here’s how we see it, if you’re interested in getting a cash back card that’s easy to use, the Capital One® Quicksilver® Cash Rewards Credit Card may fit the bill for you. Earning and redeeming cash back is hassle-free. The absence of an annual fee means you can use the card as little or as often as you like without having to pay just to have an account.
There is a 0% intro APR on purchases for 15 months; 16.24%-26.24% variable APR after that and a 0% intro APR on balance transfers for 15 months; 16.24%-26.24%variable APR after that; 3% fee on the amounts transferred within the first 15 months. The 0% introductory APR for 15 months is appealing if you want to transfer a balance or make a large purchase right off the bat. If you think you’ll carry a balance after the introductory period ends, just remember that the non-introductory variable APR will apply, currently 16.24%-26.24%.
Capital One® Quicksilver® Cash Rewards Credit Card cons
Compared to certain other cash back cards, the Capital One® Quicksilver® Cash Rewards Credit Card offers a lower rewards rate. That may be viewed as a negative if you’re a heavy spender who’s hoping to max out the amount of cash back you can earn.
This card also isn’t ideal for travelers who want to squeeze some extra mileage out of their rewards for flights, hotel stays or other travel expenses. Other cards out there, for instance, allow you to transfer miles or points to frequent traveler programs for big savings. With this card, you don’t have that option.
Should you get the Capital One® Quicksilver® Cash Rewards Credit Card?
We recommend the Capital One® Quicksilver® Cash Rewards Credit Card to anyone who likes earning cash back but doesn’t have time to juggle a complicated rewards scheme. The absence of an annual fee and the unlimited rewards make it a good option for consumers with a wide variety of spending habits.
One thing to keep in mind with this card is how your credit score affects your odds of getting approved. According to Capital One’s website, the Capital One® Quicksilver® Cash Rewards Credit Card is reserved for applicants with excellent credit. To check your credit report and score before applying, sign up for Credit Sesame’s free credit monitoring service. Although keep in mind the decision by the card issuer to extend you credit is based on a variety of factors, not only your credit score.
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