Review: Is Capital One Quicksilver the Best Cash Back Credit Card for You?

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There are four main types of cash back credit cards, and the Capital One Quicksilver Cash Rewards credit card falls into the fixed rewards category. That means it earns the same amount of cash back no matter what you buy – 1.5% in this case. It also means it’s one of the easiest cards to use, as you don’t have to worry about keeping track of bonus income categories.

The Capital One Quicksilver Cash Rewards Credit Card offers new cardholders an important welcome offer: spend $500 within 3 months of account opening and receive a one-time $200 cash bonus. That’s a great deal for a card with no annual fee, and one of the many reasons the card is so popular. You also get some travel and shopping perks, including international transaction fees for international purchases.

However, there are other cash back cards with no annual fee that offer similar introductory bonuses and possibly larger rewards for daily spending, if you’re willing to pay close attention to bonus tiers. For example, the Chase Freedom Unlimited® and Chase Freedom Flex℠ earn up to 5% in certain categories, so depending on your spending habits, one of the cards may be a better fit.

If you’re looking for a card with no annual fee and higher returns on all purchases, look no further than the Citi® Double Cash Card. You actually get 2% back on all purchases (1% at purchase and 1% at checkout), with no cap on earning potential – but keep in mind that this card does not currently offer a welcome bonus.

Compare: Capital One Quicksilver vs Other Capital One Cards

Capital One Quicksilver Cash Rewards Credit Card

Capital One SavorOne Cash Rewards Credit Card

Capital One VentureOne Rewards Credit Card

Annual fee

$0

$0

$0

Rewards rate

1.5% cash back on all purchases

 3% cash back on restaurants, grocery stores, eligible broadcast services and entertainment

1% cash back on all other purchases

1.25 miles per dollar on all purchases

Welcome bonus

Get a one-time cash bonus of $200 when you spend $500 within 3 months of account opening

Get a one-time $200 cash bonus when you spend $500 within the first 3 months of account opening

Earn 20,000 miles after spending $500 within 3 months of account opening

Card benefits

Extended warranty

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Travel accident insurance***

Travel assistance services

Extended warranty

Travel accident insurance***

Travel assistance services

Car rental insurance

Extended warranty

Travel accident insurance***

Intro APR offer

0% intro APR on purchases and balance transfers for 15 months, then a 15.24% – 25.24% (Variable)

0% intro APR on purchases and balance transfers for 15 months, then a 15.24% – 25.24% (Variable)

0% intro APR on purchases and balance transfers for 15 months, then a 15.24% – 25.24% (Variable) APR

Foreign transaction fee

No

No

No

Review

 

Capital One SavorOne Cash Rewards card review

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Capital One Venture vs VentureOne — which travel rewards credit card is right for you?

Capital One Quicksilver card vs other cash-back cards

Capital One Quicksilver Cash Rewards Credit Card

Chase Freedom Unlimited®

Citi® Double Cash Card

Annual fee

$0

$0

$0

Rewards rate

1.5% cash back on all purchases

 5% cash back (5x points) on travel purchased through Chase Ultimate Rewards

3% cash back (3x points) on restaurant and drugstore purchases

1.5% cash back (1.5x points) on everything else

1% cash back when you buy, plus 1% cash back when you pay your bill

Welcome bonus

One-time $200 cash bonus once you spend $500 on purchases within 3 months of account opening

1.5% cash back on regular income (up to $300 worth of cash back) on spending up to $20,000 on anything in the first year

N/A

Card benefits

Extended warranty

Travel accident insurance***

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Travel assistance services

 purchase protection

Extended Warranty

Rental car insurance (secondary in the US, primary otherwise)

Trip Interruption/Cancellation Insurance

Travel and emergency assistance services

Access to Citi Entertainment

Intro APR offer

0% intro APR on purchases and balance transfers for 15 months, then a 15.24% – 25.24% (Variable)

0% intro APR on purchases and balance transfers for the first 15 months, then a 14.99% – 23.74% Variable APR.

0% intro APR on balance transfers for the first 18 months, then a 14.24% – 24.24% VariableAPR

Foreign transaction fee

No

Yes

Yes

Review

Chase Freedom Unlimited card review

Citi Double Cash card review

How to Use Capital One Quicksilver Card Rewards

You can redeem your rewards from your Capital One Quicksilver Cash Rewards credit card for mail-in check or statement credit. Gift card rewards can also be redeemed, and your rewards will never expire as long as your account is open.

Unlike some others cash back credit card, the Capital One Quicksilver Cash Rewards Credit Card has no minimum redemption amount. You can also set up automatic redemptions at set times each calendar year or when your rewards reach certain thresholds ($25, $50, $100, $200, $500, or $1,500).

Advantages and Features

As a card with no annual fee, the Capital One Quicksilver Cash Rewards credit card doesn’t offer many benefits, but there are a few that can save you money if you use them.

0% introductory interest rate on purchases and transfers for the first 15 months

One of the biggest benefits of the Capital One Quicksilver Cash Rewards credit card is an introductory 0% APR on purchases and balance transfers for the first 15 months (15.24% – 25.24% (variable) thereafter).

This makes it easy to pay off large purchases over time without incurring huge interest costs. Just make sure you have enough funds to cash out your balance before the end of the APR introductory period.

Extended Warranty

Capital One offers free extended warranty protection when you use your Capital One Quicksilver Cash Rewards credit card to pay for eligible items with a manufacturer’s warranty.

Travel accident insurance

When you use the Capital One Quicksilver Cash Rewards credit card to purchase tickets for your travel, you are eligible for automatic travel accident insurance against covered losses.

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24-hour travel assistance service

If you’re traveling and your card is lost or stolen, you can get emergency reissues and cash advances to help you along the way.

Moving service

Capital One Quicksilver Cash Rewards credit card cardholders have access to a 24-hour concierge service to assist with restaurant reservations, event tickets and travel reservations. The concierge service itself is free, and any third-party charges are your responsibility.

Event access

The Capital One Quicksilver Cash Rewards credit card gives you access to VIP experiences such as curated dinners and chef collaborations, discounts, and live benefits at sports and concert events. To take advantage of this offer, you must use your card to purchase tickets.

Account and Security Warning

When Capital One detects a suspicious transaction or unexpected charge on the card, cardholders are notified via text message, email or phone and can quickly help you deal with unauthorized card usage.

$0 Fraud Liability

If your card is lost or stolen, you will not be responsible for any unauthorized account charges.

Virtual card number

If you want to pay online without revealing your actual card number, you can generate a virtual card number for added security.

Card lock

If the card is lost, stolen or temporarily misplaced, cardholders can easily and instantly suspend their account to prevent unauthorized charges.

Credit report warning

You may be notified when your Experian or TransUnion credit report information changes, such as B. new account requests, credit updates, or address changes.

Alternative to the Capital One Quicksilver Card

If you’re not sure about the Capital One Quicksilver Cash Rewards credit card and are considering other options, check out a comparison of the benefits and rewards of several different cash back credit cards.

For example, the Citi Double Cash Card offers 2% cash back on all purchases (1% at purchase and 1% at checkout). However, there are no sign-up bonuses, so it will take longer to collect meaningful rewards. However, if you’re looking to consolidate high-yield debt, the Citi Dual Cash Card offers an introductory 0% APR on balance transfers for the first 18 months (and then a variable APR of 14.24% – 24.24%), allowing you to save a lot interest cost.

Chase Freedom Unlimited®, on the other hand, offers a welcome bonus of 1.5% cash back on top of regular income on anything you spend up to $20,000 in your first year (up to $300 worth of cash back).

It earns 5% cash back on travel purchases made through the Chase Ultimate Rewards travel portal, 3% cash back at pharmacies and restaurants, and 1.5% cash back on other no-caps. If you spend a lot of money on the bonus tier, you might do better with Chase Freedom Unlimited®, and it also comes with an initial 0% APR for the first 15 months (then a variable 14.99% APR – 23.74 %). ).

It pays to compare cash back credit cards and their rewards programs to find the one that’s right for you. Maybe you really want a one-time bonus, but you might also want a card that offers more bonus categories.

Fees and Costs

With no annual fees and no international transaction fees, the Capital One Quicksilver Cash Rewards credit card is a great option for international travel.

As with most cards, late payments, bank transfers, and cash advances incur fees.

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