26 Benefits of the Capital One® Quicksilver® Cash Rewards Credit Card

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If you’re looking for the simplicity of a cash-back credit card but still aren’t sold on paying an annual credit card fee, you may find value in the Capital One® Quicksilver® Cash Rewards Credit Card.

The card doesn’t come with fancy benefits or an earning structure that takes a CPA to figure out. You’ll just be earning ongoing cash-back rewards on every purchase and a quick cash sign-up bonus to jump start the process.

You may find additional value in being a cardholder if you’re planning a large purchase or you have high-interest credit card debt you’d like to pay off.

This is because the card offers the significant benefit of 0% introductory APR on purchases and balance transfers for 15 months , then 16.24% -26.24% thereafter.

We’ll explain how the card works and cover all the benefits of the Capital One® Quicksilver® Cash Rewards Credit Card!

Initial Benefits

No Annual Fee

If you have an aversion to paying an annual credit card fee, you’ll be happy to learn that the Capital One® Quicksilver® Cash Rewards Credit Card has no annual fee!

Sign-Up Bonus

While sign-up bonuses can fluctuate, there’s usually a nice cash bonus for meeting a low minimum spending requirement within the first 3 months after card approval. It’s a great way to jump start your earnings!

Earning Rewards

Cash-back on Every Purchase

There are no complicated bonus earning categories to remember as you’ll be earning a flat 1.5% cash-back on every purchase you make.

Unlimited Earnings

There’s no limit as to how much cash back you can earn on the Capital One® Quicksilver® Cash Rewards Credit Card.

Rewards Do Not Expire

As long as you have an active Capital One credit card account, your rewards don’t expire. If your account were closed for any reason, you would forfeit any cash-back that hasn’t been redeemed.

Disney Toy Story
Cover those theme park tickets with your cash-back rewards. Image courtesy of AA Vacations.

Redeeming Rewards

Redeeming rewards with the Capital One® Quicksilver® Cash Rewards Credit Card card is a breeze and just as simple as earning rewards.

Hot Tip: Don’t miss our piece on The Best Ways to Redeem Capital One Miles [For Max Value]!

Redeem for Cash Back

You can redeem your rewards at any time for a statement credit or a check.

Automatic Redemption Option

You can elect to have your rewards automatically redeemed at a set time each calendar year, which is perfect for that annual vacation.

Alternatively, you can elect to have your rewards redeemed automatically when they reach a certain dollar threshold ($25, $100, $250).

Redeem for Previous Purchases or Gift Cards

You have the option to redeem your rewards as a credit towards previous purchases or for gift cards.

No Minimum Redemption Amount

You can redeem as little or as much of your cash back as you want at any time.

Hot Tip: Let your cash-back rewards accumulate in your account and use the funds towards that annual family vacation, or for that weekend getaway you’ve been wanting to take.

Kitchen Appliances
Save money on interest charges with the 0% APR period. Image courtesy of Sears.

0% APR Benefits

One of the most valuable benefits of the Capital One® Quicksilver® Cash Rewards Credit Card is 0% APR financing on both purchases and balance transfers for 15 months, then 16.24% -26.24% thereafter.

0% APR on Purchases

For the first 15 months from the date your account is opened, you won’t be charged interest on new purchases. This benefit can save you hundreds of dollars in interest charges if, for example, you have a large purchase you want to repay over time.

Normally when your balance is not paid off each statement period, you could incur as much as a 25% APR. But with the 0% APR period, if you pay off the entire balance before the 15-month period ends, you won’t be charged any interest.

Interest calculations
Transferring high-interest credit card debt to a 0% APR credit card can result in substantial savings on interest charges. Image courtesy of Greenpath.

0% APR on Balance Transfers

Do you have high-interest credit card debt you’d like to pay off over a 15 month period? The Capital One® Quicksilver® Cash Rewards Credit Card features a full 15 month 0% APR period for balance transfers.

This means your balances can be transferred from high-interest credit cards to the Capital One® Quicksilver® Cash Rewards Credit Card and you won’t be charged any interest for the entire period.

While the savings could be substantial, you’ll want to make sure the balance is paid in full prior to the expiration of the 15-month period. After that, normal interest rates (which can exceed 25% APR) will be applied.

There is also a 3% balance transfer fee that is charged on the amount transferred, but the savings can still be substantial.

Find Out If You’re Pre-Qualified — Without Risk

Capital One Pre-Qualification Tool

Applying for a credit card and getting denied is frustrating. Capital One takes the risk and the frustration out of the process with its pre-qualification/pre-approval tool.

Just complete and submit some basic information, and you’ll find out if you have Capital One offers available. To find out more about pre-qualification and how the process works, our in-depth guide tells all.

Card Match Tool

Capital One also participates in Card Match, an excellent tool for finding your own collection of existing credit card offers.

The pre-qualification tool and the Card Match tool cannot guarantee you’ll be approved for a specific credit card offer, but they can help you determine which credit cards you’re more likely to be approved for.

Hot Tip: Neither the Capital One tool or the Card Match tool affect your credit so you can find out in advance, without risk, if you have personal credit card offers pending. 

Visa Signature or Visa Platinum Benefits

When you apply for the Capital One® Quicksilver® Cash Rewards Credit Card, you’ll either receive a Visa Signature card or Visa Platinum card depending on your credit history. Capital One states that usually, credit lines issued at $5,000 or above receive the Visa Signature.

You can review both the Visa Signature and Visa Platinum benefit guides here. Note that there are some additional benefits that will be included on the Visa Signature card versus the Visa Platinum.

Car rental
Drive with peace of mind knowing you have car rental damage coverage with your Capital One® Quicksilver® Cash Rewards Credit Card. Image courtesy of Shutterstock.

Travel Protections and Benefits

Rental Car Collision Damage Waiver

It’s always good to know you have coverage for damage or theft if something happens to your rental car.

Charge the entire rental to your Capital One® Quicksilver® Cash Rewards Credit Card, decline the rental agency’s CDW coverage, and use the coverage provided by your credit card. You’ll have secondary coverage in your country of residence and primary in your non-residence country.

Terms apply, of course, and coverage varies depending on where you’re renting the vehicle from and if you have current car insurance domestically.

No Foreign Transaction Fees

Take the Capital One® Quicksilver® Cash Rewards Credit Card with you when you travel as you won’t be charged any foreign transaction fees.

Travel Accident Insurance

You’ll have coverage for serious personal injury on a common carrier when the entire ticket has been charged to your Capital One® Quicksilver® Cash Rewards Credit Card.

Travel Assistance Services

No need to worry when things go wrong during your travels. You’ll have 24/7 assistance at no charge with the Capital One® Quicksilver® Cash Rewards Credit Card.

Travel assistance can include help finding an English speaking doctor, assistance with passport replacement, or emergency transportation. Note that the actual cost of any subsequently provided services is the responsibility of the cardholder.

Shopping Protections and Benefits

Extended Warranty

Each eligible purchase you make with your card can qualify for an extended warranty benefit.

When the original manufacturer’s warranty on a product you purchase is 3 years or less, the warranty is doubled (for Visa Signature Benefits). One additional year is added for Visa Platinum.

For example, if you purchase headphones with a 2 year manufacturer’s warranty, it will be extended to 4 years with the card benefit (3 years for Visa Platinum). Exclusions and terms apply.

Bottom Line: Protections and Benefits vary depending on whether you are issued a Visa Signature or Visa Platinum. Your benefits guide will be included with your new card, but you can review each one here

Account Management and Security Features

No Penalty APR

When you make a late payment, credit card companies can increase your APR. While Capital One does charge a late fee, your APR will stay the same and not be increased due to the late payment.

CreditWise® Tool

Monitor your credit score with free access via the CreditWise tool. CreditWise is available to you even if you do not have a Capital One credit card.

Set up Custom Alerts

Keep an eye on your account transactions by setting up alerts for any large purchases, payment reminders, or other activity you want to track.

Add an Authorized User

You can add an additional user to your account simply by calling Capital One.

Zero Fraud Liability

You’re not responsible for unauthorized charges made on your account or if your card is lost or stolen.

Eno® Virtual Assistant

Eno® monitors your account 24/7 and alerts you to suspicious activity, answers questions about your account, and can deliver the information by text, email, or via your online account.

Capital One Mobile App

Manage your account from anywhere with the Capital One mobile app.

Make a payment, track your transactions, or lock your card with Card Lock® if you misplace it.

Final Thoughts

The Capital One® Quicksilver® Cash Rewards Credit Card is simple and straightforward. You earn 1.5% on every purchase and redemptions are easy.

The real value of the card, especially with no annual fee, could be maximized if you had a large purchase coming up. You could pay it back over the 15 month 0% APR period with no interest charges.

You could also save interest charges by transferring a balance from your high-interest credit cards. You’ll still incur the 3% transfer fee, however.

Since the Capital One® Quicksilver® Cash Rewards Credit Card requires excellent credit, you might consider comparing other cash-back and travel rewards credit cards that might be a better fit.

Great credit equals greater choices when it comes to rewards-earning credit cards.


Featured Image: Courtesy of Shutterstock.com

FAQ

How does the Capital One® Quicksilver® Cash Rewards Credit Card work?

You earn 1.5% cash back on every purchase you make with the card and you can redeem your rewards for any amount at any time.

Earnings are unlimited and the card doesn’t charge an annual fee.

You can redeem your cash-back rewards for previous purchases, gift cards, statement credits, or have a check sent to you.

How does cash back work?

When you make a purchase, 1.5% of the amount is credited to your cash back account. Any returns or credits are deducted and the related rewards will be taken back out of the account.

You can let the cash back accumulate or redeem even small amounts at a time.

Your cash back rewards don’t expire as long as you have your account open and active.

If your account is closed, you lose any cash back rewards you haven’t yet redeemed.

How does 0% interest work?

For the first 15 months you have the Capital One® Quicksilver® Cash Rewards Credit Card, you can make purchases and you will not be charged interest.

The same 0% APR introductory period is also applied to balance transfers you may make from high-interest credit cards.

The savings on interest charges can be substantial when utilizing either of these benefits. However, you must make sure you pay off any balances prior to the 15 month period ending.

At that point, the current APR rates apply and they can exceed 25% APR.

What credit score do I need for a Capital One® Quicksilver® Cash Rewards Credit Card?

The Capital One QuickSilver card requires an excellent credit score.

While sources differ, an excellent credit score generally translates to a score of 740 or above.

If you’re considering the card, you should access the pre-qualifying tool offered by Capital One to see if you have offers pending.

You can also utilize the Card Match tool mentioned in this article.

These tools don’t pull your credit history so you can find out your chances of being approved without risk.

Christine Krzyszton

About Christine Krzyszton

Christine, who lives in Northern Michigan, travels about 300,000 miles a year despite her remote location. Her expertise is traveling the world on a weekend with no pre-determined destination in mind, letting the cost of the airfare determine where she will go. She has over four million flown miles and elite status on all three major domestic carriers.

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