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Maybe you are looking for a cash rewards credit card that earns an unlimited 1.5% back on every purchase. Or, you received a prequalified Capital One® Quicksilver® Cash Rewards Credit Card offer in the mail. This Capital One Quicksilver Cash Rewards Credit Card review will help you decide if this card is worth adding to your wallet.
There is a lot to like about the Capital One Quicksilver Cash Rewards. It earns unlimited 1.5% back on every purchase and doesn’t have a foreign transaction fee or annual fee. Because of this, it can be a good primary or secondary credit card, especially if you want to complement it with one of the best travel credit cards that earn rewards for specific purchases like travel or dining.
Plus, it can be a free and easy way to build credit by making on-time payments. Let’s dive in to see what else the Capital One® Quicksilver® Cash Rewards Credit Card has to offer.
In-Depth Capital One Quicksilver Cash Rewards Credit Card Review
If you like what you see so far, here is everything the Quicksilver offers.
Capital One Quicksilver Signup Bonus
You get $150 bonus cash after spending $500 in the first 3 months of account opening. This is an easy signup bonus to earn. Plus, it’s competitive with some of the other best cash back credit cards 2019.
Earning Cash Rewards
The Capital One Quicksilver Cash Rewards Credit Card is a flat-rate cash rewards credit card. You earn unlimited 1.5% back on every purchase. There isn’t a foreign transaction fee so you can also take this card abroad and earn 1.5% back.
This cashback rate is as competitive as most flat-rate rewards cards. A couple of flat-rate cards offer up to 2% back, including the Citi Double Cash, one of the best first credit cards you can get. With all of the options available, you shouldn’t settle for a cashback credit card offering less than 1.5% back, so long as your credit score is above 600.
Although tiered rewards cards earn up to 5% back on select categories, you may earn more with a flat-rate card if you can’t maximize the bonus categories.
Redeeming Cash Rewards
Capital One offers four redemption options:
- Cash statement credit
- Mail you a paper check
- Apply cashback directly to a recent purchase
- Dining or shopping gift cards
Your cash rewards never expire and can be redeemed in any amount. No minimum redemption amount is another key benefit. Although most cash rewards credit cards let you redeem rewards in any amount, some may still require a $25 minimum balance per redemption.
Additional Benefits of the Capital One Quicksilver Cash Rewards Credit Card
This card has a few additional benefits. Unlike travel rewards credit cards, cash rewards credit cards are notorious for offering minimal add-on benefits. On a positive note, the Capital One® Quicksilver® Cash Rewards Credit Card doesn’t have an annual fee. It’s competitive 1.5% cashback rate makes it easy to overlook the lack of many extra benefits.
These are some of the complimentary benefits your Capital One Quicksilver Cash Rewards Credit Card can offer:
- Extended warranty on select purchases
- Paribus price protection monitoring
- Wikibuy online price comparison tool
- Instant purchase notifications
- Exclusive Capital One culinary, sports, and entertainment experiences
- Virtual card numbers from Eno
- No foreign transaction fee
These benefits are standard on all of the best Capital One credit cards for travel.
Capital One Quicksilver Cash Rewards Credit Card Annual Fee
The Capital One Quicksilver Cash Rewards Credit Card doesn’t have an annual fee or foreign transaction fee. Not having either fee makes this an attractive card. No foreign transaction fee is a definite advantage of owning this card as other cashback credit cards usually charge the full 3% fee on foreign purchases.
Tip: If you’re serious about using your card for travel, compare the Capital One Quicksilver Cash Rewards Credit Card to some of the other best travel credit cards with no annual fees options.
Credit Score Needed for Capital One Quicksilver Cash Rewards Credit Card
You will have the best approval odds with a minimum 670 credit score. This is the entry-level score to have “good credit.” Of course, having an excellent 750 credit score not only boosts your approval odds but can also lead to a higher credit limit.
Even if your score isn’t in the upper 600s or higher, you can still get approved with a score as low as 600. Here are several testimonies from Quicksilver cardmembers with lower-than-usual credit scores.
SlimBoss19 on July 19, 2019, states, “Great card so far, just stay on top of paying it and stay below 20%. Was approved with a 600 credit score but not sure if that also had to do with the fact that I also have the secured card.”
Eeezyville shares their experience with credit limit increases.
“So I got this card around January 2019 with a measly credit score of about 620. Wasn’t sure I’d get it but I tried and they said, “Sure we’ll give you a shot!” Had a limit of $500, I used it all the time and paid it off every month. 6 months of on-time payments and they said they’d up my limit to $750. So after the sixth payment, I’m like, “Yay! I get $750 as a limit!” Checked my account today to track my spending and was surprised to find my limit is now $3500!?!?! “
If your credit score is in the low 600s, your credit limit may not be as high as you wish. However, it’s possible to get credit limit increases with on-time payments. Only using up to 20% of your Quicksilver credit limit also helps.
If your credit score is in the 500s, consider the Capital One® Platinum Credit Card. This card doesn’t have an annual fee or foreign transaction payment.
- Earn unlimited 1.5% cash back on every purchase
- No annual fee
- No foreign transaction fee
- One-time $150 bonus cash by spending $500 in the first 3 months of account opening
- Might earn more with a tiered rewards credit card
- Cannot redeem points for travel rewards
Capital One Quicksilver Cash Rewards Credit Card Alternatives
The Capital One Quicksilver Cash Rewards Credit Card is one of the best cash rewards credit cards. However, these cards might be a better fit.
Capital One Venture Rewards Credit Card
If you prefer earning travel rewards, consider the Capital One® Venture® Rewards Credit Card instead. You earn 2 miles on every purchase (10x miles at Hotels.com/venture through January 2020).
Each mile is worth 1 cent each and redeemable for travel statement credits or booking upcoming travel. You essentially get 2% back on every purchase with these two redemption options. A third redemption option is transferring your Capital One miles to airline partners like JetBlue, Emirates, and Qantas where you might find more value.
This card also offers a Global Entry or TSA Precheck fee credit for savings up to $100 every 4 years. You can get further details in our Capital One Venture Card Review 2019.
The signup bonus is 50,000 points ($500 in award travel) by spending $3,000 in the first 3 months of account opening. Also, Capital One waives the $95 annual fee for the first year. There isn’t a foreign transaction fee.
Alternatively, the Capital One® Savor® Cash Rewards Credit Card earns more cash rewards for dining and entertaining purchases. However, it also has an annual fee ($95) that Capital One waives the first year of account opening. Learn more in our Capital One Savor Cash Rewards Credit Card review.
Citi Double Cash
The Citi® Double Cash Card earns 2% back on every purchase. Cardholders earn an unlimited 1% cash back when they make a purchase, plus an additional 1% when they pay for those purchases, totaling 2% back. To earn cash back, pay at least the minimum due on time.
There isn’t an annual fee although there is a 3% foreign transaction fee. Also, you can only redeem cash rewards with a minimum $25 balance.
Learn more: Cash Back Credit Cards
A tiered rewards card can be a better fit if your spending habits match the bonus categories. The Chase Freedom® gives you 5% back on the first $1,500 (up to $75 back) on the quarterly bonus categories. Each quarter is a different category.
One quarter might be gas stations and public transit. In another quarter, it’s grocery stores and home improvement stores. All non-bonus purchases earn an unlimited 1% back. With the Chase Freedom, you have the flexibility of redeeming your points for cash, gift cards, Amazon.com points, and travel.
Alternatively, the Chase Freedom Unlimited® earns 3% cash back on all purchases in the first year of account opening, up to $20,000 spent. After the first year, cardholders earn unlimited 1.5% cash back on all purchases.
Compare the Chase Freedom vs Chase Freedom Unlimited to learn more.
Another reason to consider the Chase Freedom cards is that you can pool your rewards points with a Chase Sapphire card. This Chase credit card combo can make your points be worth 50% more for award travel. You can also then transfer them to airlines and hotels.
Learn more about both Freedom cards: Cash Back Credit Cards
Summary of Capital One Quicksilver Cash Rewards Credit Card 2019
The Capital One Quicksilver Cash Rewards Credit Card offers some of the highest cash back rates. As this card doesn’t have an annual fee or foreign transaction fee, it’s a good fit for almost any wallet. If you like the flexibility of cash rewards, the Quicksilver is worth considering.
Learn more: Capital One® Venture® Rewards Credit Card
The comments on this page are not provided, reviewed, or otherwise approved by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered. Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airlines or hotel chain, and has not been reviewed, approved or otherwise endorsed by any of these entities.
Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airlines or hotel chain, and has not been reviewed, approved or otherwise endorsed by any of these entities.
- 1 In-Depth Capital One Quicksilver Cash Rewards Credit Card Review
- 2 Capital One Quicksilver Signup Bonus
- 3 Earning Cash Rewards
- 4 Redeeming Cash Rewards
- 5 Additional Benefits of the Capital One Quicksilver Cash Rewards Credit Card
- 6 Capital One Quicksilver Cash Rewards Credit Card Annual Fee
- 7 Credit Score Needed for Capital One Quicksilver Cash Rewards Credit Card
- 8 Capital One Quicksilver Cash Rewards Credit Card Alternatives
- 9 Summary of Capital One Quicksilver Cash Rewards Credit Card 2019