The Capital One Quicksilver Cash Rewards card is a no-annual-fee, unlimited-cash-back rewards credit card with smart features and variable APR percentages. For customers who are used to making frequent purchases with their credit card, the Capital One Quicksilver Cash Rewards card makes it easy to earn up to 1.5% back in cash rewards which could, over time, add up to significant savings.
The Essentials of the Capital One® Quicksilver® Cash Rewards Credit Card
- APR: Variable of 15.49-25.49%
- Annual Fee: $0
- Primary Feature: Unlimited 1.5% cash back rewards on all purchases
- Introductory Bonus Offer: A one-time $150 cash bonus after spending $500 on purchases within the first 3 months from account opening
What’s Interesting about Capital One® Quicksilver® Cash Rewards
The Capital One Quicksilver Cash Rewards card is an easy-to-use, no-hassle credit card that lets customers earn substantial cash rewards when making purchases in categories of their choosing. Quicksilver Cash Rewards cards are built with simplicity in mind, allowing customers to earn 1.5% back on any purchases made at any time of the year and with no expiration date for the life of the account. Customers can choose to redeem their cash rewards when covering recent purchases, buying gift cards, or applying them as statement credits. Quicksilver Cash Rewards cardholders also receive other great benefits such as extended warranty protection on eligible purchases, 24-hour travel assistance services, and no foreign transaction fees when making purchases outside of the United States.
Things to Consider
While no annual fee and unlimited cash-back rewards are excellent features to have in a credit card, the Quicksilver Cash Rewards card is not the most competitive offering when it comes to APR percentages and overall cash-back earning potential. The Capital One Quicksilver Cash Rewards card only offers 1.5% back on purchases made on the card, which I’ll grant isn’t the worst rate in the industry, but it’s definitely not the best, either. For customers or businesses that plan on spending large amounts on their credit cards, they are probably better off signing up for cards with more competitive introductory offers and better APR rates. Another thing to consider is that cardholders cannot transfer any rewards earned to other cards or loyalty programs, making the overall earning potential of this card rather limited.
How to Get the Most from this Card
The Capital One Quicksilver Cash Rewards Credit Card is best suited to customers who are looking to make most or all of their purchases on it. Because of its modest 1.5% cash-back rate, using the card for everyday purchases like gas, groceries, meals, and travel will help you to rack up enough rewards over the year to make it worth your while. On the other hand, cardholders need to be prepared to pay their bills in full, on time, and every month. The card’s variable APR percentages are high enough to wipe out any rewards you earn, so customers should avoid accrued interest whenever possible. Other things to look out for when using the Quicksilver Cash Rewards Card are vendors that charge fees for credit card transactions. If the fees charged are anything over 1.5%, then the card will offer you no additional value and could eat away at any cash-back rewards you’ve accrued.
Other Card Options that Might Interest You
Although the Capital One Quicksilver Cash Rewards Credit Card offers unlimited cash-back incentives, it’s important to note that there are many other card options to choose from that offer similar benefits. Other popular choices are the Blue Cash Preferred® Card from American Express and Discover it® Cash Back.
- Blue Cash Preferred® Card from American Express: Unlike the Capital One Quicksilver Cash Rewards card, the Blue Cash Preferred Card does have an annual fee of $95 as well as a shorter 0% introductory APR time frame. However, the Blue Cash Preferred Card offers variable cash-back percentages from 1% to 6% on purchases made in specific categories. This can lead to significantly better rewards than the Quicksilver Cash Rewards card over shorter periods. Cardholders can also earn a $250 statement credit after spending $1,000 on purchases within the first three months from account opening.
- Discover it® Cash Back: Discover it® Cash Back is another rewards card that features no annual fee as well as 0% introductory APR on purchases made within 14 months of activation. Discover it cards have more competitive APR percentages than Capital One’s Quicksilver Cash Rewards cards. For example, the Discover it® Cash Back variable APR ranges from 13.49% – 24.49%. After the first year of card usage, Discover will automatically match all of the cash-back rewards that were earned with no limitations on total amounts. Discover it cardholders will also have access to unique features such as viewing FICO credit scores for free.
The Final Word
The Capital One Quicksilver Cash Rewards Card is a no-frills, easy-to-use-and-maintain credit card solution. For customers who simply want to get rewarded for purchases that they make on everyday items, applying for this card is a natural and economical choice to make. However, if you’re looking to maximize your rewards, especially when making large, frequent purchases, then you would be better off finding another solution with higher reward percentages and more competitive APR rates. Still, there are are some unique benefits to the Quicksilver Cash Rewards Credit Card that make it more than just another cash rewards option. The fact that customers who use this card won’t pay foreign transaction fees on purchases made outside of the United States makes the Quicksilver Cash Rewards card a great option when choosing a dedicated travel expense card. Most credit card companies charge anywhere from 1% to 3% in transaction fees on international purchases, so the ability to eliminate these charges altogether may be a deciding factor for frequent travelers.