Capital One Quicksilver Cash Rewards Credit Card Review

Low maintenance, that’s your motto. When it comes to your credit cards, you don’t have the time or inclination to figure out which spending categories earn you the most cash-back.

A card that earns 1.5% cash-back for everything is more your speed.

That’s why you should consider the Capital One Quicksilver Cash Rewards Credit Card. You’ll never waste your time with changing categories, and there’s no limit to the cash-back you can earn.

Sign-Up Bonus and Cash-Back Rate

The sign-up bonus for the card is shown above in the card summary table. Simply spend the required amount in the time allotted to earn bonus cash-back!

Then, earn unlimited 1.5% cash-back for every dollar you spend with the card. Cash-back is redeemable at any time, and rewards never expire!

It’s just that simple.

Bottom Line:  Earn 1.5% cash-back for all purchases with the Capital One Quicksilver Cash Rewards Credit Card.

Capital One Quicksilver Cash Rewards Credit Card Benefits

Nobody likes paying fees, and the Capital One Quicksilver Cash Rewards Credit Card makes things simple. There’s no annual fee and no foreign transaction fees!

You even get a 0% intro APR for 9 months on purchases and transfers (though there is a 3% fee on the total transfer amount).

Whether you have a big purchase in your immediate future or just want to transfer a balance from a high-interest credit card, the card has got you covered.

Finally, the popular Uber partnership is back, meaning every 10th ride is free (up to $15) when you use your card to pay through Uber until March 2017. This is a great way to save money through the popular rideshare company.

Bottom Line: The Capital One Quicksilver Cash Rewards Credit Card has no annual fee, no foreign transaction fees, and a 0% intro APR for the first 9 months! Also get every 10th ride free with Uber, up to $15.

Capital One and Visa Signature Perks

Capital One cards come with a ton of great fraud protection and insurance perks.

For example, with Second Look from Capital One, you are automatically notified if there are unusual or duplicate charges on your account. You also get emergency card replacement and a cash advance if your card is lost or stolen.

Because it is a Visa Signature card, you get even more perks.

Enjoy premium benefits at over 900 hotel properties, roadside dispatch, and Visa Signature Concierge 24 hours a day.

See the Gritty Details for more information about all of the Capital One and Visa Signature programs available to cardholders.

Bottom Line: The Capital One Quicksilver Cash Rewards Credit Card has a great array of protection and insurance benefits, including the Visa Signature benefits included with this card.

Card Drawbacks and Alternatives

The card certainly makes earning cash-back easy. Unlike many cards, you don’t have to follow along with changing categories or maximum earnings because it’s 1.5% cash-back all the time.

Unfortunately for some cardmembers, this could also be a drawback: you can’t earn any more than 1.5% cash-back.

For instance, the Blue Cash Everyday® Card from American Express offers 3% cash-back on U.S.supermarket purchases up to $6,000, plus an unlimited 2% cash-back on purchases at U.S. gas stations and U.S. department stores. All other purchases earn 1%.

One solution is to use the Blue Cash Everyday® Card from American Express for the higher earnings categories, and the Capital One Quicksilver Cash Rewards Credit Card for everything else.

However, if you prefer a simple rewards card, then earning 1.5% cash-back across the board may be just fine!

Also, note that you’ll need excellent credit to qualify for the American Express card.

If your credit is average, then you could consider the Capital One QuicksilverOne Cash Rewards Credit Card. You’ll still get 1.5% cash-back on all purchases, but there’s no sign-up bonus, and the annual fee is $39.

You may also get a lower credit line, however, after making your first 5 monthly payments on time, you can get access to a higher credit line.

Bottom Line: Some may find the 1.5% cash-back maximum on the Capital One Quicksilver Cash Rewards Credit Card a bit low if you spend higher amounts in categories where other cards would earn 2% or more cash-back.

Final Thoughts on the Card

If you want a basic, no-frills cash-back card that earns a flat 1.5% on all of your purchases, the Capital One Quicksilver Cash Rewards Credit Card may be right up your alley.

You have no limit on your cash-back, and can redeem it in any amount at any time. You’ll also get the partnership with Uber, which proved very popular last year. With this deal, every 10th ride is free (up to $15) until March 2017!

For those who want the potential to earn more than 1.5%, combining cards is always an option.

• You want a no-annual-fee credit card
• You are looking for a simple, easy-to-understand rewards program
• You will take advantage of the 9 months interest-free for a large purchase

• You prefer to earn travel rewards
• You want to earn more than 1.5% cash-back in some spending categories

The fastest way to earn cash-back is by using the Capital One Quicksilver Cash Rewards Credit Card for all purchases that can be put on a credit card.

First, go through your expected monthly expenses and figure out which can be charged to the card. This will include gas, groceries, insurance payments, and much more.

Then, keep the card on hand for any unexpected expenses.

Whether the kids need a haircut or you need a new bathing suit for an upcoming vacation, make sure to use your card to get 1.5% cash-back every time.

Here are some tips for maximizing your cash-back with the Capital One Quicksilver Cash Rewards Credit Card:

Tip #1: Spend the required amount in the allotted time to earn the sign-up bonus, one of the easiest and best ways to get value from the card.

Tip #2: As we mentioned earlier, combine credit cards to get the most value for your purchases.

Use cards that earn more for certain categories, and then put everything else on the Capital One card.

Tip #3: If you have more than one Capital One Rewards account, you may be able to transfer rewards between them. Then, you can get more cash-back at one time!

Tip #4: Always pay your bill on time. Otherwise, you won’t be able to redeem cash-back for that billing cycle.

Tip #5: Add family members to your card as authorized users to earn cash-back on all of their purchases as well! As an added bonus, they will improve their credit scores!

You have 2 options for redeeming cash-back for the most value: a check or statement credit. Just request your cash-back whenever you’re ready.

If you want to redeem cash-back from your Capital One Quicksilver Cash Rewards Credit Card without having to think about it, you can arrange for automatic redemption at capitalone.com or by contacting the Rewards Center.

Select a date on the calendar, or set it up to issue when you reach a specific threshold ($25, $50, $100, or $200).

Even if you elect to use automatic redemptions, you can still request cash-back at any time. Also, you can always change your automatic redemption preference for the following month.

Other Redemptions

You can redeem the cash-back earned for gift cards and merchandise at capitalone.com and the Rewards Center.

However, we don’t recommend this since the cash-back is valued at a lot less for these redemptions.

Intro APR Offers

Have you had your eye on a new washing machine? Is it time to replace your dishwasher? This card’s intro APR gives you a great opportunity to make a large purchase and spread out the payments without incurring hefty interest.

Then, you can pay off some of the purchase with the cash-back earned. Of course, you never want to make a purchase just to get the introductory APR offer.

Only buy what you really need, and always keep up with the payments. If your balance isn’t paid off when the introductory APR expires, you’ll be charged interest way back to the time of purchase!

There are no travel partners associated with the Capital One Quicksilver Cash Rewards Credit Card.

Up to this point in the review, we’ve explained how simple it is to earn and redeem cash-back with the Capital One Quicksilver Cash Rewards Credit Card. Now we will do some calculations to find out if it’s really worth it to sign up for the card.

A Quick Card Snapshot

Let’s do a quick card recap. The table below shows the cost and earning potential of the card.

There’s no annual fee with the card, so you’ll begin getting value right from the start, especially if you earn the sign-up bonus. But let’s break it down even further.

Earning Cash-Back with Our Model Families

Now let’s take a look at how much cash-back our 3 model families can earn in a given year based on their annual expenses.

Pretty impressive! Our model families earned $339 to $676 cash-back with a credit card that has no annual fee!

If you put all of your expenses on the card, it’s possible to earn even more cash-back.

Remember these calculations are based on cash-back only. As we mentioned earlier, redeeming cash-back for gift cards and merchandise will decrease the value of your rewards on this card.

Compared to Capital One Venture Rewards Credit Card

Next, let’s compare the value of the Capital One Quicksilver Cash Rewards Credit Card to the Capital One Venture Rewards Credit Card, a travel credit card (we’ll use the calculations from our review).

In the following table, we can see the value of both cards. Note that this does not include sign up bonuses.

Wow! The value of the cards is similar based on the same amount of spending, but the Capital One Venture Rewards Credit Card definitely earns more.

However, the Capital One Venture Rewards Credit Card value is based on travel credit, not cash-back. If you’re not traveling much and won’t use those credits, they won’t be worth it to you.

It’s also important to note that the Capital One Venture Rewards Credit Card has a $59 annual fee after the first year. It doesn’t offer a 9-month 0% intro APR on purchases either.

Basically, it comes down to whether you would rather earn cash-back or travel credit for your purchases.

Card Conclusion

The Capital One Quicksilver Cash Rewards Credit Card can be valuable if you use it for all your purchases. Our model family calculations estimate the value of the card between $339 and $676.

To see which card is better for your needs, do the calculations using your own numbers. Only then will you be able to see which is the better deal!

The sign-up bonus credit is only awarded to new cardmembers. Once you qualify, the credit will appear on your statement within 2 billing cycles.

You cannot earn cash-back on cash advances, checks used to access your account, and balance transfers.

Late payments disqualify cardmembers from earning rewards during that billing cycle.

Other Unique Benefits

Capital One offers a variety of cardmember benefits on its card, including all of the following and more:

$0 fraud liability – There is no liability if your card is lost or stolen

Security alerts – Receive personalized emails and texts regarding account security

Online banking – Manage your Capital One account online

Capital One Wallet – Download and enroll in the mobile payment app to receive immediate notifications regarding charges, account balances, available credit, and rewards earnings.

Second Look from Capital One – This feature identifies unusual and duplicate charges on your account

Apple Pay – Use select Apple devices to make purchases with your Capital One card

Personalized payment – Choose your own billing due date and payment method with no fee

Autopay – Set up automatic monthly payments

Travel accident insurance – Pay for travel fare with the card and receive automatic insurance for loss of life or limb at no extra charge

24-hour travel assistance – Get emergency card replacement and a cash advance if the card is lost or stolen

Auto rental insurance – Coverage for damage due to collision or theft when you use the card

Extended warranty– Receive additional warranty protection on card purchases

Annual account summary – A yearly overview of payments and transactions organized by category

Financial education site – Get access to financial tools, tips, and resources to manage your credit

Because the Capital One Quicksilver card is also a Visa Signature card, you get additional benefits, including but not limited to:

Visa Signature Concierge – Available 24 hours a day, both from home and when you travel

Event access – Enjoy special access and preferred seating at sporting events and concerts

Luxury Hotel Collection – Premium benefits at over 900 properties

Roadside dispatch – Towing and locksmith referral services in the U.S. and Canada available 24/7

Lost luggage reimbursement – Coverage up to $3,000 if checked or carry-on luggage is lost or stolen

Photo Credits/Credit/Copyright Attribution:

Man in White Lounging: Zhukov Oleg/Shutterstock
Woman’s Haircut: santypan/Shutterstock
Family on Couch with Card: Kzenon/Shutterstock
Indecisive Man: Borysevych.com/Shutterstock