GET.com's Review of Capital One® Quicksilver® Cash Rewards Credit Card
|Highlights||Credit Card Feature|
|Things We Like||Signing bonus of $150 cash bonus|
|Our Least Favorite||High regular APR|
|Our Verdict||Great card to earn unlimited 1.5% cash back on all purchases|
- One-time $150 cash bonus after you spend $500 on purchases within 3 months from account opening
- Earn unlimited 1.5% cash back on every purchase, every day
- No rotating categories or sign-ups needed to earn cash rewards; plus, cash back won't expire for the life of the account and there's no limit to how much you can earn
- 0% intro APR on purchases for 15 months; 16.24%-26.24% variable APR after that
- 0% intro APR on balance transfers for 15 months; 16.24%-26.24% variable APR after that; 3% fee on the amounts transferred within the first 15 months
- Pay no annual fee or foreign transaction fees
- Intro APR
0% intro on purchases and balance transfers for 15 months
- Annual Fee
- Regular APR
16.24% - 26.24% (Variable)
- Credit Required
Capital One® Quicksilver® Cash Rewards Credit Card is Capital One's take on a cash back credit card. Rather than opting for the rotating cash back categories preferred by some other credit card issuers, with this card Capital One offers a hassle free solution to earning and redeeming cash back on every purchase you charge to it. If you are the type of credit card user who prefers to earn decent cash back on all your spending without thinking twice about it, rather than play the coupon and rotating category game, this may well be the card for you.
But the benefits don't end at cash back, and in this review we've compiled a full list of the pros and cons of Capital One® Quicksilver® Cash Rewards Credit Card to help you decide if this is the right card for you.
Things We Like About Capital One® Quicksilver® Cash Rewards Credit Card
The one-time $150 cash bonus. After you successfully apply for this card and spend $500 on purchases within 3 months from account opening, you earn a 1-time $150 cash bonus.
You earn unlimited 1.5% cash back on all purchases! Many cash back credit cards will give you a low 1% cash back base rate, and then reward you with higher cash back for certain kinds of purchases. But this card gives you a base rate of 1.5% on all purchases. That's 50% more than most cash back cards give you. Best of all, there is not limit on the amount of cash back you can earn.
You get a long introductory low APR period on purchases and balance transfers. This card comes with a 0% intro APR on purchases and balance transfers for 15 months, followed by a standard 16.24% - 26.24% variable APR after that. So if you need to make a large purchase which you won't be able to pay off immediately, that intro offer gives you some leg room. If you have credit card debt which you want to pay off, the intro APR period for balance transfers gives you a window of time to pay off your debt without accumulating interest charges. Just note that the balance transfer fee is 3% of the amount of each transfer that posts to your account within the first 15 months.
You don't pay an annual fee. This card has no annual fee, and that means the cash back you earn is pure savings. If you choose not to use this card for a time, you won't be paying an annual fee in the meantime.
No foreign transaction fees. If you like to travel outside of the U.S. then this perk will speak to you. When you use this card to pay in a foreign currency, you won't be charged a foreign transaction fee. Most cards charge 3% of the transaction amount in foreign transaction fees, so this is a big saver.
Cash back does not expire. Nobody likes to be rushed about using their rewards, so this is a definite perk. You can collect all the cash back you want without worrying about losing it as long as your account is in good standing.
You aren't liable for unauthorized transactions. The $0 fraud liability policy you get with this card can protect your finances if you card is ever lost or stolen. If someone makes a fraudulent purchase using your card, you won't be held liable to pay for it.
Our Least Favorite Things About Capital One® Quicksilver® Cash Rewards Credit Card
You get a fairly high APR. The standard 16.24% - 26.24% variable APR is pretty high, so this is not a good card to pile up debt on. But if you pay your balance in full at the close of each billing cycle, this won't be a worry. And with no annual fee and 1.5% unlimited cash back on purchases, this card can be very economical if used right.
You pay a lot to get cash. If you need some extra cash, don't get it using this card. You will pay a minimum cash advance fee of $10, or 3% of the amount of each cash advance (whichever is more). If you are in the habit of using your credit card to get cash, Barclaycard Ring® Mastercard® which only charges a $3 for each cash advance is probably a better card for you (See Rates & Fees).
How Other Cards Compare With Capital One® Quicksilver® Cash Rewards Credit Card
|Intro APR:||0% Intro APR on Balance Transfers for 18 months*|
|Regular APR:||15.74% - 25.74%* (Variable)|
|Credit Required:||Excellent, Good|
|Intro APR:||0% Introductory APR for 12 billing cycles for purchases AND for any balance transfers made in the first 60 days|
|Regular APR:||16.24% - 26.24% Variable APR|
Capital One® Quicksilver® Cash Rewards Credit Card gives you a good rate of cash back on all purchases and is our pick of cash back card in this category if you travel outside of the U.S. from time to time.
Capital One® Quicksilver® Cash Rewards Credit Card follows Capital One's no-nonsense approach to rewards cards. It gives you a very competitive fixed rate of cash back on all purchases with few complications and hassles, and all for no annual fee. If you like to keep things simple and save money by earning cash back on everything you buy, this card is a one-stop solution.
However, there are other very competitive cash back credit cards in this bracket, some of which can potentially give you higher cash back rewards. Consider the specific benefits that you want in a credit card before making up your mind. If you travel outside of the country fairly regularly, Capital One® Quicksilver® Cash Rewards Credit Card with no foreign transaction fee may well be the right pick. Another perk is that, unlike similar cards which require excellent credit, you can apply for this card as long as you have good to excellent credit.
See more Capital One credit cards.