The credit card market is currently saturated with cash back credit cards, and one of the top options with no annual fee is the Capital One Quicksilver Cash Rewards Credit Card. If you’re someone who prefers a straightforward rewards system and wants the flexibility to redeem your rewards without any complications, this card may be the right fit for you.
TIME’s Take
The Capital One Quicksilver Cash Rewards Credit Card is definitely worth considering if you have excellent credit and want to earn rewards without an annual fee. With a flat-rate rewards structure of 1.5% cash back on all purchases, it’s a hassle-free option for those who don’t want to keep track of bonus categories and rewards caps. Plus, the card offers an attractive introductory APR for purchases and balance transfers for the first 15 months.
However, it’s important to note that there are competitors with higher rewards rates and more lucrative perks. The lack of bonus categories on this card means you won’t be able to maximize your rewards potential unless you spend more.
Pros:
- Earns flat-rate rewards (1.5% cash back) on all purchases
- Earns 5% back on hotels and rental cars booked through Capital One
- No annual fee and no foreign transaction fees
- Generous welcome offer
- Flexible redemptions for rewards
- Intro APR offer for purchases and balance transfers
Cons:
- Some flat-rate cards offer a higher rewards rate
- No travel-specific benefits
- Few additional cardholder perks
- Requires an “excellent” credit score
Who is the card for?
The Capital One Quicksilver Cash Rewards Credit Card is ideal for individuals who want to earn rewards without any complications or stress. Its simple rewards structure makes it easy to understand, and you can redeem your rewards for cash back, statement credits, gift cards, or even purchases on Amazon.com or PayPal.
It’s worth noting that Capital One markets this card to people with “excellent credit.” While they don’t specify a minimum credit score, they do expect applicants to have a clean credit history with no bankruptcies, loan defaults, or late payments. Additionally, they prefer applicants who have had a loan or credit card for at least three years with a credit limit exceeding $5,000.
Features
The Capital One Quicksilver Cash Rewards Credit Card is straightforward and user-friendly. Here are its main features:
Cash back rewards
The card offers an unlimited flat rate of 1.5% cash back on all purchases, as well as 5% back on hotels and car rentals booked through Capital One Travel. Additionally, new cardholders can earn a $200 cash bonus after spending $500 on purchases within the first three months.
Intro APR offer
Cardholders can enjoy an introductory APR for purchases and balance transfers, followed by a variable APR. This feature makes the card attractive for consolidating high-interest debt or making large purchases over time.
No foreign transaction fees
Unlike many competing cash back credit cards, the Capital One Quicksilver Cash Rewards Credit Card does not charge foreign transaction fees for purchases made abroad.
Uber One benefit
Enrollment in the card’s complimentary Uber One membership offers six months of benefits, including $0 delivery fees on Uber Eats orders, 10% off eligible Uber Eats orders, and member pricing, along with highly rated drivers on Uber.
Capital One Entertainment
Cardholders gain access to exclusive presale event tickets and special events, providing memorable experiences.
Capital One Dining
Capital One Dining offers cardholders access to reservations at exclusive eateries and award-winning restaurants.
Extended warranties
This card provides additional extended warranty protection on eligible items that already come with a manufacturer’s warranty.
Travel accident insurance
When you use your Capital One Quicksilver Cash Rewards Credit Card to pay for common carrier fare with an airline, cruise line, etc., you automatically receive travel accident insurance at no cost.
Complimentary concierge
Cardholders have access to complimentary concierge services 24/7, providing specialized assistance with dinner reservations, travel arrangements, and more.
The fine print
The Capital One Quicksilver Cash Rewards Credit Card is relatively free of hidden terms and conditions. However, there are a few important details to be aware of:
Interest rates
While the introductory APR offer is appealing, it’s essential to remember that it is temporary. After the introductory period, you will be subject to a variable APR on any remaining balances.
Fees
Transferring high-interest debt to this card can help you save on interest, but be aware that a balance transfer fee applies. Additionally, keep an eye out for other fees such as cash advance fees and late payment fees.
What could be improved?
While the Capital One Quicksilver Cash Rewards Credit Card may seem impressive at first glance, it falls short when compared to its competitors. Other cash back credit cards offer higher earning rates and more valuable perks. Some cards provide purchase protection, extended warranties, free credit scores, secondary auto rental coverage, trip cancellation and interruption insurance, and travel and emergency assistance services.
Card alternatives
If you’re considering the Capital One Quicksilver Cash Rewards Credit Card, it’s worth exploring some alternatives:
Capital One Quicksilver Cash Rewards Credit Card: Flat-rate cash back with no annual fee and an intro APR offer for purchases and balance transfers.- Citi Double Cash Card: Higher flat-rate cash back (2% on all purchases) and a balance transfer offer.
- Chase Freedom Unlimited: Attractive intro APR offer and a special limited-time cash back offer.
Citi Double Cash Card: Higher flat-rate cash back (2% on all purchases) and a balance transfer offer.
Chase Freedom Unlimited: Attractive intro APR offer and a special limited-time cash back offer.Bottom line
While the Capital One Quicksilver Cash Rewards Credit Card seems appealing on the surface, there are better options available. Other cards offer higher cash back rates, similar intro APR offers, and no annual fees. Some even provide bonus rewards categories that allow you to maximize your rewards over time.
However, the Capital One Quicksilver Cash Rewards Credit Card stands out for not charging foreign transaction fees, making it an excellent choice for international travelers.