Capital One Quicksilver Cash Rewards Card Review 2024

If you can’t decide between a card offering a welcome bonus or an introductory 0% APR, look no further. The Capital One Quicksilver Cash Rewards Credit Card provides both. This is a winning combination for those who may be planning to finance a purchase for an extended period of time after becoming a new cardholder. You’ll earn cash back on your spending since the card offers 1.5% cash-back rewards on all purchases with no limits, expiration dates or restrictions.

The intro APR is where this card truly shines. You’ll earn 1.5% cash back on every purchase and 5% cash back on hotels and rental cars booked through Capital One Travel during the intro period and beyond, which is a fine but not exactly noteworthy earnings rate. However, the card might still make sense for minimalists who only want one or two cards in their wallet. The Quicksilver card has a $0 annual fee and no foreign transaction fees, making it a good choice for almost any purchase.

Some versions of this card also offer a few benefits including extended warranties and travel accident insurance. If you become a cardholder, check your agreement for your specific benefits. These are nice extras, but nearly all direct competitors’ cards offer similar perks and features.

• Earn 1.5% cash back on every purchase and 5% cash back on hotels and rental cars booked through Capital One Travel
• Earn a $200 cash bonus after spending $500 on purchases within 3 months from account opening
• No foreign transaction fees
• $0 annual fee

Earning Rewards

Cardholders earn a steady 1.5% cash back on every purchase and 5% cash back on hotels and rental cars booked through Capital One Travel. For simplicity, there are no featured purchase categories or seasonal earnings rates to track. There are no annual earning limits or expiration dates as long as the account is open.

New cardholders have an opportunity to earn a bonus: $200 cash bonus after spending $500 on purchases within 3 months from account opening. That’s a relatively low minimum spending requirement to receive a welcome bonus compared to other cards on the market.

Redeeming Rewards

The Capital One Quicksilver Cash Rewards Credit Card maintains its simplicity with redeeming rewards, too. Customers can request cash back at any amount, redeemable as a check or statement credit. Cardholders also have the option of setting up automatic redemptions. If you want to set it and forget it, this is a card for you. You can also redeem your rewards for travel through CapitalOneTravel.com

Another option is to link your rewards account with Amazon.com to apply rewards toward Amazon purchases at a penny a piece in value. While this option is convenient, you’re better off charging the purchase to your card (earning 1.5% cash back) and separately requesting a statement credit afterward. The extra step will earn you more rewards in the long run.

Cardholders can also redeem rewards for gift cards at variable rates. Like the Amazon option, you’d be better off buying the gift card you need instead of redeeming rewards directly.

Rewards Potential

To determine the rewards potential of the Capital One Quicksilver Cash Rewards Credit Card we have to look at the bonus categories and calculate what an American household might spend in those areas. Forbes Advisor uses data from various government agencies to determine both baseline income and spending averages across various categories. An example household earning in the 70th percentile brings in $118,438 annually and has $39,337 in potential credit card expenses.

Capital One Quicksilver Cash Rewards Credit Card Rewards Potential
Category	Earning Rate	Estimated Annual Spend	Estimated Annual Earnings
All Spending	1.5%	$39,337	Total: $590.06

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The Capital One Quicksilver Cash Rewards Credit Card offers a 0% intro APR on purchases and balance transfers for 15 months, 19.99% - 29.99% variable APR after that; 3% balance transfer fee for the first 15 months, 4% at a promotional APR that Capital One may offer you. Although you’re still required to make minimum payments toward your balance each month, the remainder will accrue without interest. This allows you to pay over time without incurring finance charges during the promotional period.

You’ll need to pay off your new purchases in full by the end of the promotional period or you will incur interest at your standard rate. For disciplined cardholders, this can be a strategic tool.

• Extended warranty. Automatically doubles the original manufacturer’s/store’s warranty on eligible purchases when you use your eligible card to pay for a product.
• Complimentary concierge service. Enjoy assistance 24 hours a day, from home and when you travel.
• Fraud coverage. You’re covered by $0 fraud liability for unauthorized charges if your card is lost or stolen.
• Travel accident insurance. Get automatic insurance for a covered loss at no extra charge when you use your credit card to purchase your fare.

Interest Rates

• Regular APR: 19.99% - 29.99% (Variable)
• Purchase intro APR: 0% intro on purchases for 15 months
• Balance transfer intro APR: 0% intro on balance transfers for 15 months

Fees

• Annual fee: $0
• Balance transfer fee: Balance transfer fee applies
• Foreign purchase transaction fee: None

At first glance, this card looks like a solid contender for fee-averse customers who value simplicity. However, several cards offer similar (or better) rewards potential.

Capital One Quicksilver Cash Rewards Credit Card vs. Chase Freedom Unlimited®

The Chase Freedom Unlimited® is another credit card with a $0 annual fee offering cardholders at least 1.5 points per dollar, which are redeemable as 1.5% cash back. However, customers who also hold other Chase cards like the Chase Sapphire Preferred® Card or Ink Business Preferred® Credit Card have the flexibility to redeem points toward travel purchases or transfer to travel partners for outsized value.

The Freedom Unlimited offers a welcome bonus: an additional 1.5% cash back on up to $20,000 spent in the first year, worth up to $300 cash back. It also earns 5% cash back on travel purchased through Chase Travel℠, 3% cash back on eligible dining and drugstores and 1.5% on all other purchases, plus an additional 1.5% cash back on the first $20,000 in purchases the first year, so earnings will add up more quickly with this card, and has a similar 0% introductory APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% - 29.24% applies. An intro transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater, applies in the first 60 days of account opening. After that, a fee of either $5 or 5% of the amount of each transfer applies.

Capital One Quicksilver Cash Rewards Credit Card vs. Citi Double Cash® Card

The Citi Double Cash® Card is a Forbes Advisor favorite because it offers 2% cash back on all purchases—1% when purchases are made and another 1% when they’re paid off with a $0 annual fee. For our example American household, that equates to $786.74 in rewards annually compared to what the Quicksilver would earn. Rewards might be worth even more if you hold other Citi cards that earn ThankYou Points, so you can optionally transfer rewards to travel partners.

The Double Cash offers a different version of a 0% introductory APR. Citi’s offer is only valid on balance transfers and offers a 0% intro APR on balance transfers for 18 months. After that, the standard variable APR will be 19.24% - 29.24%, based on creditworthiness. An intro balance transfer fee of either $5 or 3%, whichever is greater, applies to transfers completed within the first 4 months of account opening. After that, the fee will be 5% of each transfer (minimum $5). Your own circumstances will impact which offer is best for you if you intend to use the 0% APR at all.

Unfortunately, the Double Cash charges a 3% foreign transaction fee, which makes it more expensive to use abroad than the Capital One Quicksilver.

Capital One Quicksilver Cash Rewards Credit Card vs. Chase Freedom Flex℠*

If you’re looking for an all-purpose card that earns elevated rewards across a broad swath of categories, the Chase Freedom Flex℠* could be what you’ve been searching for. For an annual fee of $0, the card offers 5% cash back on up to $1,500 in categories that rotate quarterly (requires activation), 5% cash back on travel purchased through Chase Travel℠, 3% cash back on dining and drugstores and 1% cash back on all other purchases.

Rewards come as Chase Ultimate Rewards®, a highly flexible points currency that can be redeemed for cash back, travel, gift cards, merchandise or combined with rewards earned from a Chase Sapphire Preferred® Card or Chase Sapphire Reserve® card and transferred to one of Chase’s travel transfer partners.

The Capital One Quicksilver Cash Rewards Credit Card is a decent option, especially in the first year when you have access to a welcome bonus, easy flat-rate earnings and a 0% intro APR on purchases and balance transfers for 15 months, 19.99% - 29.99% variable APR after that; 3% balance transfer fee for the first 15 months, 4% at a promotional APR that Capital One may offer you. Afterward, the card may still be worth carrying considering there are no foreign transaction fees, which is a rare feature for credit cards with a $0 annual fee.

Forbes Advisor considers a variety of criteria when assigning credit cards a rating. Cards are graded based on numerous factors, including:

• Annual fees
• Welcome bonus offers
• Ongoing earning rates
• Value of individual points or miles
• Included travel or merchant credits
• Additional cardholder benefits

Card features we expect cardholders to use the most often are weighted more heavily in our ratings. Altogether, the factors come together to provide a star rating for each individual card.

Read more: How Forbes Advisor rates credit cards

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

To view rates and fees for Capital One Quicksilver Cash Rewards Credit Card please visit this page.