Capital One Quicksilver Cash Rewards review: A simple way to earn cash back
Editor's Note
Capital One Quicksilver Cash Rewards Credit Card overview
The Capital One Quicksilver Cash Rewards Credit Card allows you to keep things simple and watch your rewards grow over time with an unlimited 1.5% rewards rate that you can convert to cash back. However, you'll get better earning rates with some other cash-back cards. Card Rating*: ⭐⭐⭐½
*Card Rating is based on the opinion of TPG's editors and is not influenced by the card issuer.
The Capital One Quicksilver Cash Rewards Credit Card may slightly outpace the perks of other cash back cards with its respectable sign-up bonus and no annual fee (see rates and fees), but it does have a few drawbacks worth considering. TPG also recommends applicants have a good credit rating of 690 or higher when applying.
Quicksilver's simple earning structure may be appealing — along with its distinction as one of the best introductory APR cards on the market — but what makes it even more so is the ability to transfer your rewards to Capital One's transfer partners if you also hold a card that earns Capital One miles.
Let's dive into the card details.
Quicksilver pros and cons
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Quicksilver welcome offer
New Quicksilver cardholders receive a $200 cash bonus after spending $500 on purchases within the first three months of account opening. This is the best offer we've seen on this card.
This is a typical welcome offer for cash-back cards with no annual fee, and it has the advantage of a low spending requirement that most people should be able to meet without too much effort. But compared to the best travel credit cards, which can offer sign-up bonuses worth thousands of dollars, this $200 is just some extra cash in your pocket.
Related: 13 cards currently offering sign-up bonuses of 100,000 points or more
Quicksilver benefits
The Quicksilver isn't the card to get if you want perks such as lounge access or travel credits, which are often included with premium credit cards.
However, the Quicksilver does include some benefits, such as charging no foreign transaction fees (see rates and fees). This is a perk that, while now nearly universal on credit cards with annual fees, is rarer for no-annual-fee cards.
Other benefits include:
- Extended warranty
- Concierge service
One TPG reader found value in the Quicksilver as a card you can apply for early in your financial journey to keep open for your credit history:
"Your first card should have no annual fee (see rates and fees) so you can leave it open forever, like the Capital One Quicksilver, or a credit union card." – Jeremy C via Facebook
Note: Reader-submitted responses have not been edited, reviewed or approved by the issuers nor reflect TPG's opinions of these cards.
This is a short, but decent list of benefits for a no-annual-fee card (see rates and fees).
Earning cash back on the Quicksilver
The Quicksilver earns a flat 1.5% on all purchases, with no bonus categories.
Earning the same amount on all purchases is fine if you don't have one high-spending category. However, if you make many monthly purchases in one particular category — such as dining or groceries — you'll likely want to consider a card that earns a bonus in that category.
Related: The best credit cards for each bonus category
Redeeming cash back on the Quicksilver
You can redeem your rewards on the Quicksilver as a statement credit, check or gift card. There's no minimum redemption amount — just sign in to your account via the app or your computer and simply select your preference.
TPG credit cards editor Emily Thompson appreciates the versatility of cash-back rewards. Even though they can be less valuable than her favorite transferable rewards, she uses cash-back to cover things that points and miles don't, like airport snacks and activities.
However, you aren't limited to these redemption options if you have the right card pairing. If you also hold a card that earns Capital One miles, such as the Capital One Venture Rewards Credit Card, you can convert your cash-back to travel rewards at a rate of 1 Capital One mile per 1 cent of cash-back and transfer your them to any of Capital One's 15-plus hotel and airline partners.
Related: Better together: The ultimate guide to the best credit card combinations
What cards compete with the Quicksilver?
The Quicksilver is a solid no annual fee cash back credit card (see rates and fees). However, there are better choices for those looking for higher earning rates and more benefits.
- If you have a limited credit history: The Capital One QuicksilverOne Cash Rewards Credit Card also earns 1.5% cash back on all purchases and comes with a $39 annual fee (see rates and fees) and no sign-up bonus. Beyond that, the perks and cash back are essentially identical.
- If you want higher earning potential: The Citi Double Cash® Card (see rates and fees) earns 2% on all purchases (1% when you buy and 1% as you pay) and has no annual fee. For more details, see our full review of the Citi Double Cash.
- If you prefer Chase: The Chase Freedom Unlimited® also has no annual fee, earns 1.5% cash back on most purchases and allows you to transfer your rewards to travel partners with the right card pairing. Plus, it earns 5% cash back on Chase travel booked through Chase Travel℠ and 3% back at drugstores and dining. For more details, see our full review of the Chase Freedom Unlimited.
For additional options, check out our full list of the best cash-back and no-annual-fee credit cards.
Related: How to choose a cash-back credit card
Is the Quicksilver worth it?
The Quicksilver is a good fit for people who use one card for everything because it has a simple, flat 1.5% cash back earning rate. If you don't spend much of your budget in typical bonus spending categories or prefer not to juggle cards when you're out and about, the card is worth it. However, those who want to earn more in bonus categories will likely want to go with a different card.
Bottom line
The Quicksilver offers a decent cash back earning rate along with a solid sign-up bonus and decent benefits for a no-annual-fee card (see rates and fees). However, other cash back cards offer more generous earnings, so it may not be the best fit for your spending habits.
For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
Apply here: Quicksilver Cash Rewards