Capital One Quicksilver Cash Rewards Credit Card Review
The Capital One Quicksilver Cash Rewards Credit Card is one of several cash back cards on the market today that pay 1.5% in rewards. It comes with a $200 signup bonus and no annual fee. We’ll cover all the details in this Capital One Quicksilver review.
The Capital One Quicksilver Card offers a simple rewards program. It pays 1.5% cash back on all purchases. It does charge an annual fee, and it offers a $150 sign up bonus. You can redeem cash back with no minimum increments, and your rewards do not expire. It’s about as simple as it can get.
Capital One Quicksilver Card Rewards
Welcome Bonus
So, you’re officially a new Capital One Quicksilver Card member. For starters, this means you can earn a one-time $200 bonus if you spend at least $500 within 3 months of your account being activated. After you meet the qualifications for this bonus, Capital One will usually apply this to your rewards total within two billing cycles.
Earning Rewards
Capital One Quicksilver Card helps you earn rewards on every purchase. You’ll earn 1.5% on each purchase you make. It’s that simple.
Let’s do some math. If an individual or family of four charges on average $3,000 to the card each month, cash back rewards would total $45 a month, or $540 a year.
Redeeming Rewards
There are several ways to redeem rewards. The primary redemption offer is for cash. You can redeem cash at any time and in any amount. There are no minimum cash redemptions required. You can also apply the cash back rewards to your Capital One balance as a statement credit. Note that using rewards as a statement credit does not reduce your required minimum monthly payment.
Beyond cash or a statement credit, however, you can also redeem rewards for gift cards and to shop at Amazon.
0% Introductory Rates
The Capital One Quicksilver card offers a 0% APR on purchases and balance transfers. The intro APR remains at 0% for the first 15 months of your account being activated. Once the 15 months has passed, the APR returns to a variable rated based on your creditworthiness.
Refer a Friend
You can earn up to $500 each year in statement credits when using your Quicksilver Card to refer friends to sign up for a Capital One card. Capital One offers card members a referral program to help them earn more points. For each approved referral, you can earn $100 in statement credits, up to no more than 5 referrals each year, giving you $500 in statement credits per year. The reward usually arrives in your account within 4 weeks after approval.
Capital One Quicksilver Card Benefits
- Proactive Account Alerts- You will be sent an alert if Capital One finds a mistake or unexpected charge.
- Personalized Payment- This allows you to pick your own monthly due date, and even your payment method for no cost.
- Autopay- Choose to have your payment automatically withdrawn from your account monthly.
- 0% Fraud Liability- You will not be held responsible if your card becomes lost or stolen.
- Card Lock- This feature allows you to lock your card if you lose it, or if it gets stolen. This will prevent the card from being used.
- Security Alerts- If any suspicious activity is seen on your account, Capital One will notify via email, text, etc.
- 24 Hour Travel Assistance- This service helps you by getting you an emergency replacement card, or even a cash advance if your card becomes lost or stolen.
- No Foreign Transaction Fees- No transaction fees when traveling outside of the United States.
- Roadside Assistance- Find assistance with this benefit when you’re needing a tire change, need a jump, or even a tow.
- Extended Warranty- Items you purchase with your credit card will get additional warranty coverage at no cost.
- Premier Access- this service keeps you up to date with unique dining experiences, sporting events, and music festivals that happen near you.
FAQs
Quicksilver requires excellent credit, which Capital One describes as never having declared bankruptcy or defaulted on a loan, not having been more than 60 days late on any credit card, medical bill, or loan in the last year, and having had a loan or credit card for 3 years or more with a credit limit above $5,000. If you don’t meet this criteria, consider the Capital One QuicksilverOne Cash Rewards Credit Card
No. You can earn up to as many rewards you can on purchases without limitations.
According to others, 5-7 days after receiving all needed documentation. However, keep in mind that this card does require a high credit score prior to approval.
The following items are not considered purchases, and therefore will not earn you any rewards: Cash advances, checks used to access your account, balance transfers and cash equivalent transactions
How Does the Capital One Quicksilver Card Stack Up
Just about every major credit card issuer offers a 1.5% cash back credit card. Until recently, they were all about the same. The all offered a signup bonus of $150. They didn’t charge an annual fee. All of that changed, however, when Chase introduced the new and improved Chase Freedom Unlimited®.
Like Quicksilver, it offers 1.5% on purchases. Yet three things set it apart. First, its signup bonus is $200, not $150. Second, it offers several bonus categories that pay cash back as high as 5%. And third, rather than redeeming for cash, you can transfer the Chase Ultimate Rewards to another Chase card and earn 25% to 50% bonuses when redeemed for travel through Chase.
There still may be good reasons to stick with the Quicksilver card. You may bank at Capital One and want to keep all your financial products at one institution, for example..
But you should definitely consider the Chase Freedom Unlimited® before making a choice:
Final Thoughts
The Capital One Quicksilver Cash Rewards Credit Card represents a solid cash back card. It’s combination of signup bonus, ongoing rewards and no annual fee make it a top rated offer. Still, there may be better options for those who are not wedded to Capital One.
Still haven’t found what you are looking for? Check out our full list of the best cash back credit cards.
