Capital One Quicksilver Cash Rewards Card review 2024: Just OK cash-back rewards for no annual fee
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BLUEPRINT
Updated 11:48 a.m. UTC July 2, 2024
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The Capital One Quicksilver Cash Rewards Credit Card * The information for the Capital One Quicksilver Cash Rewards Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. earns simple cash-back rewards at a rate of 1.5% cash back on purchases and 5% cash back on hotels and rental cars booked through Capital One Travel. It comes with a welcome bonus and an intro APR offer, too. But there are other no-annual fee flat-rate cards on the market that earn 2% back or even more. Read more in our full Capital One Quicksilver Cash Rewards card review.
Capital One Quicksilver Cash Rewards Card basics
- Annual fee: $0.
- Welcome bonus: $200 cash bonus after spending $500 on purchases within the first three months of account opening.
- Rewards: 1.5% cash back on purchases and 5% cash back on hotels and rental cars booked through Capital One Travel.
- APR: 0% intro APR on purchases and balance transfers for 15 months, then a 19.99% to 29.99% variable APR. There is a 3% fee on each balance transfer in the first 15 months but no fee for amounts transferred at the purchase APR after the first 15 months.
- Other perks and benefits: Receive statement credits as reimbursement for up to six months of Uber One membership (through Nov. 14, 2024), plus travel accident insurance and complimentary concierge services.
- Does the issuer offer a preapproval tool? Yes.
- Recommended credit score: Good to excellent.
Capital One Quicksilver Cash Rewards Card review
If you’re looking for a way to earn cash-back rewards without paying an annual fee, the Capital One Quicksilver Cash Rewards Card is a just-OK option. You’ll earn 1.5% cash back on purchases and 5% cash back on hotels and rental cars booked through Capital One Travel, and there are no spending limits to keep track of. In addition, you’ll earn a $200 cash bonus after spending $500 on purchases within the first three months of account opening.
You’ll also receive a 0% intro APR on purchases and balance transfers for 15 months, then a 19.99% to 29.99% variable APR. There is a 3% fee on each balance transfer in the first 15 months but no fee for amounts transferred at the purchase APR after the first 15 months.
When you open this card, you’ll receive some decent shopping and travel protections in addition to cash-back rewards. For example, if you add your cell phone number to your Capital One account, Capital One will send you text notifications if it detects suspicious transactions.
And you’re never responsible for any unauthorized transactions made on your account. If you suspect fraud on your account, you can lock your card in the Capital One mobile app.
When you use your Capital One Quicksilver Card to pay for your travel, you’ll receive automatic travel accident insurance. There are also no foreign transaction fees with this card, a plus when spending abroad.
Pros
- Minimal fees: The card doesn’t charge an annual fee and there are no foreign transaction fees.
- Cash-back rewards: You’ll earn 1.5% cash back on purchases and 5% cash back on hotels and rental cars booked through Capital One Travel.
- Simple rewards structure: There are no rotating bonus categories and rewards don’t have an expiration date.
- Intro APR: The card comes with a 0% intro APR on purchases and balance transfers for 15 months, then a 19.99% to 29.99% variable APR. There is a 3% fee on each balance transfer in the first 15 months but no fee for amounts transferred at the purchase APR after the first 15 months.
Cons
- Requires good credit: You’ll need good-to-excellent credit to qualify for this card, so it may not be an option if you’re building or rebuilding your credit.
- Balance transfer fee: You’ll have to pay a fee of 3% of the amount of each transferred balance that posts to your account during the first 15 months that your account is open. After that, 4% of the amount of each transferred balance that posts to your account at a promotional APR that Capital One may offer you at any other time. No fee for amounts transferred at the Purchase APR after the first 15 months. That said, a fee of 3% to 5% is fairly standard on balance transfer credit cards.
- Other cards earn more: There are multiple cards on the market that earn 2% cash back or more.
Capital One Quicksilver Cash Rewards Card rewards
You’ll earn 1.5% cash back on purchases and 5% cash back on hotels and rental cars booked through Capital One Travel. There’s also a welcome bonus of a $200 cash bonus after spending $500 on purchases within the first three months of account opening.
Using government data and other publicly available information, we estimate that a household in the U.S. that would be in the market for this card has around $29,525 in annual expenses that can be charged to a credit card. Here’s how such a household’s rewards would break down:
| SPENDING CATEGORY | SPENDING AMOUNT | CASH-BACK RATE | CASH-BACK EARNED |
|---|---|---|---|
Eligible travel booked through Capital One
| $3,500
| 5%
| $175
|
All other spending
| $26,025
| 1.5%
| $39.03
|
TOTAL
| $29,525
| $214.03
|
In the above example, our sample cardholder could earn $214.03 in cash-back rewards with this card. Rewards won’t expire as long as your card account is in good standing. There are multiple redemption options: You can redeem your rewards for a check or statement credit, a gift card, or to cover a recent purchase.
Capital One Quicksilver Cash Rewards Card APR
When you sign up for the Capital One Quicksilver Cash Rewards Card, you’ll enjoy a 0% intro APR on purchases and balance transfers for 15 months, then a 19.99% to 29.99% variable APR. There is a 3% fee on each balance transfer in the first 15 months but no fee for amounts transferred at the purchase APR after the first 15 months.
How the Capital One Quicksilver Cash Rewards Card compares to other rewards cards
Capital One Quicksilver Cash Rewards Card vs. Citi Double Cash® Card * The information for the Citi Double Cash® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
The no-annual-fee Citi Double Cash Card earns a net 2% cash back on purchases — 1% when purchases are made and another 1% when they’re paid off, plus, for a limited time, 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/24. That beats the rewards rate on the Quicksilver.
Those seeking to transfer a balance can take advantage of the Double Cash’s introductory offer of 0% intro APR on balance transfers for 18 months. After that, the standard variable APR will be 19.24% to 29.24%. An intro balance transfer fee of either $5 or 3%, whichever is greater, applies to transfers completed in the first four months. After that, the fee will be 5% of each transfer (minimum $5).
Capital One Quicksilver Cash Rewards Card vs. Discover it® Cash Back
The Discover it® Cash Back earns 5% cash back on purchases at different places each quarter up to $1,500 spent each quarter when activated and 1% cash back on all other purchases. Categories rotate each quarter and they have in the past included purchases like Amazon, grocery stores, restaurants and gas stations.
Discover will automatically match all the cash back earned at the end of the first cardmember year. And there’s no annual fee.
Which card is best for you will depend on your spending patterns and ability to make the most of the quarterly bonus categories offered with the Discover it® Cash Back.
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Discover it® Cash Back
Capital One Quicksilver Cash Rewards Card vs. Alliant Cashback Visa® Signature Credit Card * The information for the Alliant Cashback Visa® Signature Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
For those who qualify, the Alliant Cashback Visa Signature Card earns up to 2.5% cash back on up to $10,000 spent each billing cycle with qualifying accounts and all other purchases earn 1.5%. In order to reap those rich rewards, you’ll have to join Alliant Credit Union, open an Alliant Credit Union High-Rate Checking account and meet the requirements in each calendar month of maintaining an average daily balance of $1,000, at least one electronic deposit monthly and opt in to e-statements.
For those who can tick all the boxes, Alliant Cash Back Visa’s rewards rate outearns the Quicksilver’s rewards rate.
The Alliant Cashback Visa Signature Credit Card charges no annual fee.
The Capital One Quicksilver Cash Rewards Card is right for you if:
- You’re looking for a no-annual fee card that earns simple cash-back rewards and you want to get one from Capital One.
- You want a card with an intro APR offer on purchases or balance transfers that earns rewards you can benefit from after the introductory period expires.
- You want a rewards card that allows you to redeem your earnings to reimburse yourself for a purchase made on the card.
Frequently asked questions (FAQs)
You’ll need a good to excellent credit score for the best chances of approval when applying for this card, which FICO typically defines as 670 or higher. If you’re struggling with bad credit or don’t have any credit history, you may want to consider a secured credit card instead.
You can redeem your rewards as a check, statement credit or gift card, and your rewards won’t expire as long as your account remains open.
No. As long as your account is open and in good standing your rewards won’t expire.
For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
*The information for the Alliant Cashback Visa® Signature Credit Card, Capital One Quicksilver Cash Rewards Credit Card and Citi Double Cash® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.
Blueprint has an advertiser disclosure policy. The opinions, analyses, reviews or recommendations expressed in this article are those of the Blueprint editorial staff alone. Blueprint adheres to strict editorial integrity standards. The information is accurate as of the publish date, but always check the provider’s website for the most current information.
