Capital One Quicksilver Cash Rewards Credit Card Review [2024]: My Hassle-Free Choice To Earn Cash Back

Key takeaways

• The Capital One Quicksilver Cash Rewards Credit Card(Rates and fees) offers two valuable introductory APR periods on purchases and balance transfers.
• It provides extended warranty protection¹, which personally helped me get a replacement for a portable monitor that stopped working after the manufacturer's warranty ended.
• In addition to its base 1.5% cashback rate, you can earn 5% cash back on hotels and rental cars booked through Capital One Travel (terms apply).
• While the 1.5% flat rate is simple, pairing the Quicksilver with bonus category cards can help maximize rewards in areas like dining and gas.

Card basics

Who should get the Capital One Quicksilver Cash Rewards Credit Card?

The Capital One Quicksilver offers excellent value for anyone seeking a straightforward and hassle-free approach to earning cashback rewards.

If you’re after simple rewards

If you're like me and find yourself exhausted by juggling multiple cards with rotating bonus categories, this card can be a refreshing breath of simplicity.

Starting off my credit journey years ago with this card proved to be a nice smooth introduction to the world of cards, credit activity, and how it all reports to consumer credit bureaus. Today, I still like this card’s rewards rate even after years of having it. Plus, it’s $0 annual fee means I don’t have to worry about the cost of keeping it.

If you plan to use its intro APR offers

The Quicksilver is also a fantastic option for those looking to finance a major purchase or consolidate existing debt, thanks to the powerful intro APR offers. After qualifying for this card, you get:

• Intro APR offer on purchases: 0% intro APR for 15 months on purchases (then 19.74% - 29.74% (Variable))
• Intro APR offer on balance transfers: 0% intro APR for 15 months on balance transfers (then 19.74% - 29.74% (Variable)); Balance transfer fee applies

I didn’t use these intro offers when I qualified for this card. In retrospect, this was a mistake. Around the same time I qualified for the Quicksilver, I also bought my first car. I could have used the Quicksilver’s intro APR on purchases to finance my $3,000 down payment, but I didn’t.

It isn’t too late for you, though. If you end up getting this card, you could definitely use these offers to your advantage. Just make sure to still make your minimum monthly payments and pay your balance in full during the introductory period so you don’t have to deal with hefty interest charges.

What should you know before applying?

There are many intro APR cards and several of them don’t offer rewards. I’m looking at you, Citi Simplicity^® Card. While cards like the Citi Simplicity can serve a purpose, the Capital One Quicksilver Cash Rewards Credit Card(Rates and fees) stands out for having intro APR offers and a rewards program at the same time. That’s why the Quicksilver provides an incredible opportunity to finance major expenses while still earning rewards.

How smart credit card use makes a real-world difference

My roommate and I recently moved to a new unfurnished place. We knew that we’d have some big upcoming costs since we didn’t have much in our last place. I recommended getting an intro purchase APR card to her, and her choice landed on the Capital One Quicksilver for its lengthy intro period of 15 months.

She ended up putting several purchases on her card, including a new sofa, kitchen essentials, and more. All in all, she earned about $50 after making about $3,500 in purchases thanks to the Quicksilver’s 1.5% cashback rate. While this might not seem like much, it’s $50 more than she had before. Plus, she now has 15 months to pay off the balance, as long as she makes at least the minimum monthly payments.

What about the credit requirements?

The Capital One Quicksilver has a recommended credit of good to excellent. A good FICO credit score is typically in the 670 to 739 range. But keep in mind that Capital One, like every other card issuer, considers various factors like on-time payment history, credit utilization, and more, in addition to your credit score, to determine your creditworthiness. So your score alone isn’t a guarantee of approval.

When I applied, my FICO score was sitting right around 720 — solidly in the good range, and I got approved, making the Quicksilver the very first credit card I qualify for. But your personal experience can very well differ. So the bottom line is to use credit score ranges as guidelines, not guarantees.

Here's a closer look at this card's top benefits

Simple rewards structure

One of the primary appeals of the Capital One Quicksilver Cash Rewards Credit Card is its straightforward and fuss-free rewards program.

Unlike many cash back cards that come with different bonus categories, the Quicksilver offers a refreshingly simple solution – earn an unlimited 1.5% cash back on every purchase, every day. For example, if I spent $2,000 in a month on expenses like groceries, gas, dining out, and online shopping, I'd earn a flat $30 cash back from the Quicksilver without having to worry about activating categories or maximizing quarterly bonuses.

That’s why I find it easy to reach for my Capital One Quicksilver whenever I’m not sure which card is best for my purchase.

Easy-to-earn welcome offer

The Capital One Quicksilver Cash Rewards Credit Card sweetens the deal for new cardholders with an enticing welcome offer.

You can earn a one-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening. When I qualified for this card, I used it for most everyday expenses and found it incredibly easy to meet this spending requirement.

Lengthy intro APR offers

The Capital One Quicksilver comes with two introductory APR offers:

• 0% intro APR for 15 months on purchases, then 19.74% - 29.74% (variable) APR
• 0% intro APR for 15 months on balance transfers, then 19.74% - 29.74% (variable) APR; Balance transfer fee applies

Just remember to factor in the balance transfer fee, which is a one-time cost that may still be worthwhile compared to the interest you'd pay on your existing debt.

Overall these intro periods present a valuable opportunity to finance major expenses or consolidate existing debt without worrying about interest charges for a while. When I first got the Quicksilver, I overlooked these benefits. In retrospect, I could have taken advantage of them to finance a significant purchase – my first car.

If you use these offers, my advice to you is to have a clear repayment plan in place. Make sure to pay off the balance within the introductory period so you don’t have to deal with hefty interest charges once it ends.

A solid bunch of travel benefits

While the Capital One Quicksilver Cash Rewards Card may not be a dedicated travel rewards card, it still packs a punch when it comes to perks that can elevate your travel experiences.

Out of its travel benefits, the absence of foreign transaction fees is my favorite. As someone who often travels internationally, I like having a $0-annual-fee card that doesn’t add these surcharges every time I swiped my card abroad.

But the travel benefits don't stop there. The Quicksilver also offers an additional earning opportunity when you book your travel through Capital One Travel. Hotels and rental cars booked through Capital One Travel (terms apply) enable you to earn a boosted 5%.

As a Quicksilver cardmember, you also gain access to entertainment experiences through the Capital One Entertainment platform. However, I never made much use of this perk, as the event selection on the platform seemed pretty limited every time I checked. Plus, the ticket prices were comparable to what I could relatively easily find online.

Protections for your peace of mind

The Capital One Quicksilver offers a suite of valuable protections¹. This includes extended warranty protection, which has saved me from the hassle and expense of replacing items out-of-pocket.

Just a few months ago, my portable screen stopped working, and the manufacturer's warranty had expired. I looked up what card I originally used for this purchase, and it was my Quicksilver. This helped me submit a claim for the monitor since it was still within the extended warranty protection period.

Beyond the extended warranty, the Quicksilver comes with perks like MasterRental Coverage, which helps you cover physical damage or theft of an eligible rental vehicle, as well as Master RoadAssist Service, which provides 24-hour dispatch to help with towing, fuel delivery, and more (fees apply).

Drawbacks: Why you may want a different card

No bonus categories or rotating rewards

While the Capital One Quicksilver Cash Rewards Card's flat 1.5% cashback rate offers a simple approach to earning rewards, it also means that you'll miss out on the opportunity to earn elevated rewards in specific spending categories.

For those whose monthly expenses skew heavily toward areas like dining, groceries, or gas, a card that offers bonus or rotating categories in those areas could potentially yield a higher overall return.

Personally, I carry the Quicksilver along with a cash back card that has bonus categories that are useful for me. Two of my favorites are the Chase Freedom Unlimited^® or Blue Cash Preferred^® Card from American Express since I can use them on the go for gas, dining, and grocery purchases. But when there’s a purchase outside these categories, I just default to the Quicksilver.

Shorter intro balance transfer APR period than some other cards

While the Capital One Quicksilver Cash Rewards Credit Card(Rates and fees) has 0% intro APR for 15 months on balance transfers (then 19.74% - 29.74% (variable) APR; Balance transfer fee applies), some other cards on the market offer even longer periods.

For example, the Citi Simplicity^® Card offers 0% intro APR on balance transfers for 21 months, then 18.74% - 29.49% (Variable)

You do give up rewards with the Citi Simplicity, though. But if you’re consolidating a significant amount of debt, the extra months of interest-free financing offered by the Citi Simplicity could make a substantial difference in the long run.

Earning and redeeming cash back with the Capital One Quicksilver Cash Rewards Card

Potential earnings in years one and two

Here's a look at how your cash back can add up with the Capital One Quicksilver Cash Rewards Card.

Remember, this is an estimation. The actual amount of cash back you earn will be determined by how much you spend.

Year one earnings: $763

Year two earnings: $563

These values are based on the FinanceBuzz Credit Card Rewards Valuation Model, which takes a look at points earned via spending and the early spend bonus.

Best ways to earn

The Capital One Quicksilver Cash Rewards Credit Card is a simple rewards card. There’s no need to juggle cards to earn rewards or track bonus categories; you can earn a solid rate of return by using the Quicksilver card for every purchase. With the Quicksilver Cash Rewards card, you’ll earn unlimited 1.5% cash back on every purchase, every day. There’s no cap on how much you can earn, and your cashback rewards never expire as long as your account remains open.

Because you earn the same cashback rate on every purchase, it’s a good idea to use this card for your routine expenses, such as your utility bills or subscriptions. That way, you can score rewards for your everyday spending. 

And don't forget about earning rewards on certain travel purchases. You'll earn 5% on hotels and rental cars booked through Capital One Travel (terms apply).

Maximizing your redemptions

The Capital One Quicksilver offers a good amount of versatility and convenience when redeeming its cashback rewards. For example, you can redeem them for statement credits or checks or use them for purchases on Amazon or PayPal.

I personally like being able to redeem for previous expenses or travel bookings through Capital One's portal. It just makes me feel better about my purchases.

But the automatic redemption preferences might be my favorite feature. With a few clicks, I can set my cashback rewards to automatically redeem at certain times or once my balance hits a threshold like $50.

FAQ

Alternatives that might be better for you

While the Capital One Quicksilver Cash Rewards Credit Card(Rates and fees) has served me well since I first got it years ago, I understand that you may prefer a card that offers bonus categories that align with your common purchases. Or you may want a card that offers a longer intro APR period than the Quicksilver’s. So here are my recommended alternatives, some of which I use side by side with the Quicksilver to complement it.

Chase Freedom Unlimited^®

For those seeking more flexibility and potentially higher rewards rates, the Chase Freedom Unlimited can be an excellent alternative. With this card, you'll earn 6.5% cash back on travel purchased through Chase Travel℠, 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service and 3% cash back on all other purchases (on up to $20,000 spent in the first year). After your first year or $20,000 spent, earn 5% cash back on travel purchased through Chase Travel℠, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service and unlimited 1.5% cash back on all other purchases.

Like the Quicksilver, the Freedom Unlimited card has a $0 annual fee and offers lengthy intro APR periods on purchases and balance transfers. Additionally, it helps you earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year). However, it does charge a foreign transaction fee of 3% of each transaction in U.S. dollars, so it isn’t as great to use abroad as the Quicksilver.

Learn more in our Chase Freedom Unlimited^® review.

Blue Cash Preferred^® Card from American Express

If a significant portion of your monthly expenses goes towards a few specific categories, the Amex Blue Cash Preferred might be a better fit than the Quicksilver.

This card offers an impressive 6% cash back at U.S. supermarkets (for first $6,000 per year, after that 1%) and on select U.S. streaming services, 3% cash back at U.S. gas stations and on eligible transit, and 1% cash back on other eligible purchases. If your spending aligns with these categories, your potential earnings could be higher than with the Quicksilver.

The Blue Cash Preferred has $0 intro annual fee for the first year, $95 per year thereafter (terms apply) annual fee. But the potential rewards earnings in these key categories could quickly offset that cost for many households.

Plus, you can earn a $250 statement credit after spending $3,000 on eligible purchases in the first 6 months.

Learn more in our Blue Cash Preferred^® Card from American Express review.

Citi Simplicity^® Card

Now, if your primary focus is on consolidating debt, the Citi Simplicity might be a more fitting option than the Quicksilver. While it doesn't offer any rewards, the Simplicity boasts one of the longest intro APR on balance transfers in the market. You receive 0% intro APR on balance transfers for 21 months, then 18.74% - 29.49% (Variable).

This extended introductory period could be invaluable to tackle high-interest debt. And it definitely helps that this card has a $0 annual fee.

Learn more in our Citi Simplicity^® Card review.

Lucrative, Flat-Rate Cash Rewards

Wells Fargo Active Cash^® Card

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Wells Fargo Active Cash^® Card

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Rates and fees

Current Offer

$200 cash rewards bonus after spending $500 in purchases in the first 3 months

Annual Fee

$0

Rewards Rate

Earn unlimited 2% cash rewards on purchases

Benefits and Drawbacks

Benefits

• Low spend threshold for its welcome offer — $200 cash rewards bonus after spending $500 in purchases in the first 3 months
• Cell phone protection benefit (subject to a $25 deductible)
• Can redeem rewards at an ATM for literal cash

Drawbacks

• Foreign transaction fee of 3%
• No bonus categories

Card Details

• Select “Apply Now” to take advantage of this specific offer and learn more about product features, terms and conditions.
• Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
• Earn unlimited 2% cash rewards on purchases.
• 0% intro APR for 12 months from account opening on purchases and qualifying balance transfers. 19.74%, 24.74%, or 29.74% Variable APR thereafter; balance transfers made within 120 days qualify for the intro rate and fee of 3% then a BT fee of up to 5%, min: $5.
• $0 annual fee.
• No categories to track or remember and cash rewards don’t expire as long as your account remains open.
• Find tickets to top sports and entertainment events, book travel, make dinner reservations and more with your complimentary 24/7 Visa Signature® Concierge.
• Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.