Capital One Quicksilver Review: Cash Rewards Credit Card
Are you looking for a cash rewards credit card that requires you to have a minimum credit score and credit card benefits by just having it? Capital One Quicksilver Cash allows you to create an online account and acquire a low maintenance rewards card with having average credit.
The cash rewards credit card allows you to earn cash rewards with each purchase you make. With no balance transfer fee and 0 intro APR, you can make eligible purchases.
As a personal finance writer, I believe this capital one quicksilver review will help you see what options you have when choosing this credit card and how it will help you in the long run.
Table of Contents
- Overview: Capital One Quicksilver Review
- What is Capital One Quicksilver?
- How does Capital One Quicksilver work?
- Is there something more to this cash rewards credit card?
- What are the Features of Capital One Quicksilver?
- How much does Capital One Quicksilver Cost?
- Who is Capital One Quicksilver Best For?
- What is the difference between Capital One Quicksilver vs. Quicksilver One?
- Capital One Quicksilver Pros and Cons
- Capital One Quicksilver Compare to other Cards
- Conclusion: Is Capital One Quicksilver Worth it?
- Capital One Quicksilver FAQs
Overview: Capital One Quicksilver Review
|Card||Best For||Fee & Credit||More Details|
Best For Cash Back on Everyday Purchase
|Annual Fee: $39 • APR: 0% for 15 months; 14.99% - 24.99% variable APR after that • Unlimited 1.5% Cashback|
What is Capital One Quicksilver?
Capital One Quicksilver is a credit card that offers $0 fees to pay each year. It has a simple earning structure so that it is suitable for people that are looking to earn an initial bonus once they apply for a card. You can earn a $200 cash bonus after you’ve spent $500 on buying in the first three months after opening a Capital One account.
Capital One Quicksilver allows you to earn 1.5% cashback each day after you’ve spent money on purchasing. You can then convert this earning rate into cash.
Not only that, but when it comes to taking your cash rewards, you can lower your charges when you’re applying for your earnings to your statement card. You can redeem cash, and you don’t have to pay any minimum redemption amount when doing that.
You can also redeem the points you’ve obtained in the form of a gift card, statement credit, or a check. You can even use Capital One’s “purchase eraser” and erase any credit card charges. The capital one quicksilver cash rewards don’t offer you a high balance transfer, but it offers capital one’s secure cashback credit cards.
It is the only cashback card that offers a 0% intro APR that you can obtain by having a good credit report. The capital one quicksilver cash rewards card also offers an advertising-supported comparison service that anyone can benefit from.
How does Capital One Quicksilver work?
The Capital One Quicksilver cash rewards credit card works relatively simple. It is a plain card that offers you to have unlimited cash back at 1.5% for any purchase you make. For example, you can earn a bonus of $200, for one time only. You can earn it by spending $500 in the first three months of your credit card account opening.
You can redeem the rewards by getting a statement credit or a check. Not only that, but you can also set up automatic redemption preferences that allow you to set a specific amount threshold that ranges from $25-$200 to reach. You can also set an annual date as well.
You can benefit from various options, such as previous purchases, quicksilver cash rewards, credit cards, and many other options. The rewards won’t ever expire if you make sure to keep your accounts open.
What is excellent about this quicksilver cash rewards credit card is that you don’t have to pay any annual fees or any fees related to late payment.
Is there something more to this cash rewards credit card?
The card issuer can use this card to make drugstore purchases, grocery store purchases, and many other purchases. But that isn’t all. There are a lot more benefits to these capital one’s secure cash back credit cards.
- Travel Benefits
- Identity theft protection
- Purchase Protection
- And Credit Score
Credit card rewards can also be used for various other things. With the Capital One Access on the capital one credit card, you can make new purchases to pre-sale tickets, expensive travel opportunities, and much more.
Not only that, but you can also use the Quicksilver credit card to get access to roadside assistance, travel assistance, and various 24/7 services. You will also get travel accident insurance, which will cover if you or some of your family members happen to be in an accident.
However, this only is valid if you have bought the airplane tickets with the quicksilver cash rewards credit card. This insurance also covers trip cancellation, luggage damage, or even lost luggage.
Identity theft protection
The quicksilver cash rewards credit card offers various benefits and protections when it comes to keeping your identity secure.
For example, suppose you happen to suspect that you’ve been a victim of identity theft. In that case, the Mastercard ID Theft Protection offers you resolution services that can help you resolve that problem.
Not only that, but if you’ve experienced losses due to the theft, they can help you provide coverage for those same losses. The best thing about this is that you can get access to all of this without having an excellent credit score.
The quicksilver cash rewards credit card offers many benefits when it comes to making other purchases. These benefits are:
- Price protection
- Phone Protection
For example, you can get price protection that will compensate you for the price of an item if you happen to find it for a much better price. If you’re buying a plane ticket thanks to this cash advance, you will be able to find tickets for much better deals.
This option allows you the quicksilver cash rewards credit card to pay for your phone expenses if you happen to damage or lose your phone. However, for this option to be available to you, you must use the quicksilver cash rewards credit card to pay for your monthly phone bill expenses.
You typically don’t have to have an excellent credit score to apply for a quicksilver cash rewards credit card. Although you might need a perfect credit score for getting access to more advanced features, you can also have a fair credit score that will allow you to earn bonus awards.
The credit score necessary for obtaining a quicksilver cash rewards credit card ranges from 670 to 850.
What are the Features of Capital One Quicksilver?
Quicksilver cash rewards credit
With the quicksilver cash rewards credit, you will be able to earn 1.5% cashback rewards at a much simpler rate than other credit cards. But this doesn’t stand for the rewards and bonuses.
There is no minimum redemption amount with quicksilver cash rewards credit card. Many other competitors might charge you up to $25 for your rewards. This doesn’t happen with quicksilver cash rewards credit cards.
It means that you can redeem rewards at any rewards rate at any given time.
0 $ intro APR
Another excellent feature of the quicksilver cash rewards credit is that it offers 0% intro APR if the card issuer makes balance transfers and other purchases for 15 months. After that, you will have an ongoing variable APR of 14.99%-24.99%.
The purchase window of 15 months is specifically made to lower the interest payments so that the credit card issuer will have an easier time paying balance transfers or making a large purchase.
But you have to know that each time your balance transfers, you will be charged a 3% fee. This means that you have to be careful where you use the one quicksilver cash rewards.
Another incredible feature that quicksilver cash rewards credit card offers to the issuer is that it requires minimal effort to open and maintain the cashback credit cards. In order to earn it, you only have to spend $500 on other purchases.
You won’t have to overspend, and you will still make a $200 sign-up bonus. Although it offers quite a low bonus, the initial spending money within the first three months of opening the account is quite low.
Many competitors offer sign-up bonuses if you spend as much as $3000. This may be too much for people that are more interested in gaining money rather than spending.
The sign-up bonus isn’t the only low maintenance thing you earn with the quicksilver cash rewards credit card. It is an excellent option if you’re someone that is looking for an annual fee card with an extended warranty.
The Capital one quicksilver cash rewards card is one of the rarest no annual fee cards that exist that provide sign-up bonus rewards and a low credit limit.
The annual fee for opening and maintaining an account is $0 if you have excellent credit. Even if you fall short on the credit score list, you will still pay a rather low annual fee. Unlike many other competitor cash cards that require you to pay as much as $95, here, you only have to pay $39.
How much does Capital One Quicksilver Cost?
As mentioned before in this credit card review, quicksilver cash rewards credit card requires $0 to open and maintain an account. However, this is if you have an excellent credit score. But don’t worry. Even if you have a lower credit score, you can also apply for a cashback card with no sign-ups needed.
You only have to pay a $39 annual fee for maintaining an account, but you won’t get a bonus category card when signing up. You will also have to wait for an applicant’s credit approval before having your only cashback card issued.
It also requires a minimum payment of 1% of your statement balance, or simply $25. Of course, if you don’t make the payments on time, you will have to be charged a fee.
Foreign Transaction Fees
The excellent news about quicksilver cash rewards credit cards is that there are no foreign transaction fees. This means that if you use your card internationally, you won’t have to pay foreign transaction fees or any other international fees.
This is great as many other credit cards will charge foreign transaction fees ranging from 1-3% for each purchase you make. With this credit card, you can even purchase at grocery stores, and there will be no foreign transaction fees. You can spend your money freely wherever you are.
Who is Capital One Quicksilver Best For?
The quicksilver cash rewards credit card is best for people with solid credit scores, want to pay low to no annual fee, wish to receive bonus rewards, and pay 0% intro APR.
Not only that but if you’re someone that travels often and wants to spend money without being charged a foreign transaction fee freely, then this capital one quicksilver cash rewards credit card is perfect for you.
What is the difference between Capital One Quicksilver vs. Quicksilver One?
Although quite similar, both quicksilver cash rewards credit card and QuicksilverOne cash rewards credit card are different from each other.
The most significant difference between these two cards is the cost of the card itself. For example, The quicksilver cash rewards credit card has a $0 annual fee when it comes to maintaining a card and has a $0 intro APR rewards rate.
On the other hand, quicksilver one cash rewards credit card has an annual $39. You can upgrade your card from a quicksilver one cash rewards credit card to quicksilver cash rewards credit card by obtaining free credit scores and accepting your own proprietary website rules and emails.
If you’re eligible for the card, you will receive a notification that allows you to upgrade your capital one quicksilver card.
>> Full Article: Capital One Quicksilver One Review: Cash Back Credit Card
Capital One Quicksilver Pros and Cons
► No Annual Fee - If you're someone that has an excellent credit history, then you won't have to pay anything when it comes to the annual fee.
► Card Lock - The capital one quicksilver cash rewards card offers incredible service if it comes to having your card lost or stolen. You can lock your card and unlock it once you find it again.
► No Foreign Transaction Fees - You won't have to pay any foreign transaction fees with Quicksilver. This means that if you use this capital one quicksilver card outside of the U.S, you won't have to pay for any balance transfers.
► No Bonus - You will earn only 1.5% cashback no matter how big or small your purchases are. This means that it won't pay off in the long term if you want to save up money.
► Good to Excellent Credit - Only people that have good and excellent credit are eligible for the cashback card and earn a high rewards rate.
► Low Rewards - When it comes to awards, it offers only $200 for a sign-up bonus for every $500 spent.
Capital One Quicksilver Compare to other Cards
|Credit Card||Annual Fee||Rewards||Welcome Bonus|
|Capital One Quicksilver||$39||1.5% Unlimited Cashback||$200|
|Chase Sapphire Preferred||$95||Up to 60,000 Reward Points||Up to 100,000 Bonus Points|
|Capital One Venture Rewards||$95||$500||Up to 60,000 Bonus|
|Citi Premier Credit Card||$95||3X Points||Up to 80,000 bonus points|
Capital One Quicksilver vs. Chase Sapphire Preferred
Both Chase Sapphire Preferred and Capital One Quicksilver are reasonably good when it comes to cashback rewards and account opening.
On the one hand, Chase Sapphire Preferred is better at cashback rewards as you can earn as much as 5% on grocery stores shopping and travel services. However, Capital One Quicksilver is better when it comes to the rewards rate and the low annual fees.
You won’t have to pay anything for an account opening and you can have cashback credit cards that offer incredible services such as 0 intro APR, no annual fee, and low balance transfers.
>> Related Topic: Best Chase Credit Cards • Compare Top Chase Credit Card of 2023
Capital One Quicksilver vs. Capital One Venture Rewards
Although Capital One Venture Rewards has a high rewards rate, a regular 15.99%-23.99% variable APR, the annual rate for maintaining a card is $95. This might be quite expensive for many people that want to pay low on fees.
Not only that but it only gives you a 60,000-mile bonus once you spend $3000 in the first three months of issuing the card.
Capital one quicksilver cash rewards card, on the other hand, allows low fees on balance transfers and has a 0 intro APR and a variable APR for users that have a good credit score.
Capital One Quicksilver vs. Citi Premier Credit Card
If you want a cashback card that offers a better balance transfer than regular credit cards, then Citi Premier Might be the better option for you. The Citi double cash card is the only cashback card that has zero balance transfer.
However, this means that you have to pay a $95 annual fee, which can be a bit too high for people interested in paying low fees
On the other hand, the capital one quicksilver cash rewards card has a $0 annual fee if you’re someone that has an excellent credit score and keeps up with good credit. Not only that but you will also get various bonus categories if you’re keeping your score up.
Conclusion: Is Capital One Quicksilver Worth it?
In this credit card review, we’ve taken a look at whether Capital one quicksilver cash rewards card is the right deal or not.
If you’re looking for a credit card that has eligible delivery services without worrying about your credit reports, then capital one quicksilver cash rewards credit card is perfect for you.
It has no annual fee if you have above-average credit scores. Not only that, but it also allows you to pay not one foreign transaction fee with zero dollar balance transfers.
You won’t have to pay anything for the account opening, and you will have a capital one quicksilver cash 0 intro APR.
But even if you don’t fit the excellent score criteria, you can still be eligible for a variable APR with a small annual fee. Although you won’t earn any sign-up bonus, you still don’t have to pay a foreign transaction fee if you spend your money internationally.
Capital One Quicksilver FAQs
What is the highest credit limit for Capital One Quicksilver?
The highest credit limit for quicksilver cash rewards credit cards is $30,000. However, it is wiser if you take lower limit amounts. The limit most advisable you take is $300.
Does Capital One Quicksilver give credit increases?
Before you request a credit increase, make sure to wait several months after you’ve changed your credit line.
Is Quicksilver One good for building credit?
Capital One is excellent for people who want to receive bonus awards without paying a large account opening annual fee and building a credit score.
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Author: John V
John is an avid researcher and is deeply passionate about health and finance. When he's not working, he writes research and review articles by doing a thorough analysis on the products based on personal experience, user reviews and feedbacks from forums, quora, reddit, trustpilot amongst others.