Capital One® Quicksilver® Cash Rewards Credit Card Review: Simple Rewards Card with 0% APR

Quick Review

The Capital One® Quicksilver® Cash Rewards card is a standard rewards credit card available to people with excellent credit. If you have a high credit score and want a barebones rewards card, there are a few reasons to consider this one:

• Easy rewards: You’ll get 5% cash back on certain travel expenses booked through Capital One Travel and 1.5% on all other purchases, making this card a good choice if you want travel rewards combined with a no-fuss everyday rewards program.
• Low fees: One of the main advantages of the Capital One® Quicksilver® Cash Rewards card is the lack of an annual fee and foreign transaction fees. This basically guarantees that you’ll rake in savings from the card’s rewards since you won’t have to offset any maintenance fees.
• Attainable welcome bonus: The Capital One® Quicksilver® Cash Rewards card comes with a $200 welcome bonus that’s relatively easy to earn. All you need to do is spend $500 within the first 3 months after opening your account.
• Balance transfer options: With a 0% APR for purchases and balance transfers for the first 15 months after account opening, this card is great for anyone who needs to consolidate credit card debt through a balance transfer, although you will need to pay a balance transfer fee of 3% during the introductory period.

Pros & Cons

Who Is the Capital One® Quicksilver® Card Best For?

The Capital One® Quicksilver® Cash Rewards credit card is a solid choice for the following groups of people:

• Laid-back shoppers: The 1.5% flat cashback rate on this card may not be ideal for people looking for maximal rewards earnings, but it will appeal to those who want a low-stress card that’ll earn rewards in any situation.
• Movers/home renovators: The 15-month 0% APR period on the Capital One® Quicksilver® card will be useful to anyone facing heavy expenses, like moving costs or the cost of buying new furniture or appliances. Once the 0% APR wears off, you’re left with a solid rewards card that’s worth keeping long-term.

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What the Crowd Says

The Capital One® Quicksilver® card receives positive reviews across the board due to its low-stress rewards and lack of fees. However, professional reviewers point out that you can leverage your excellent credit to achieve higher earnings by getting a different card with more targeted rewards.

What Major Publications Say

Most credit card review websites agree that the Capital One® Quicksilver® card has plenty to offer people who are looking for a no-fee credit card that earns simple, flat-rate rewards on every purchase—although other cards may give you more lucrative rewards if you mainly spend in one rewards category or you’re willing to strategize your purchases.

Critics point out that cardholders will get the most benefit within the first couple of years after account opening (in the form of a welcome bonus and 0% APR offer). After that, it’s still a decent card for people of all budgets who want low-maintenance rewards, but it may not be ideal for those who want to maximize their earnings.

What Cardholders Say

It’s difficult to gauge how cardholders feel about the Capital One® Quicksilver® credit card because many customer review websites display a mixture of reviews for all of the following Capital One Quicksilver cards:

• Capital One® Quicksilver® (for excellent credit)
• Capital One® Quicksilver® Rewards for Good Credit
• Capital One® QuicksilverOne (for fair credit)

While some cardholders complain about low credit limits, annual fees, and the lack of a welcome bonus, it’s likely that they’re reviewing the Quicksilver cards for good or fair credit, which offer different terms and fewer benefits than the Capital One® Quicksilver® Cash Rewards for excellent credit.

What is clear is what cardholders like about the Capital One® Quicksilver® rewards card—namely its simple and convenient rewards structure and the potential it offers for consolidating debts or covering large expenses due to the generous 0% APR period.

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Rates & Fees

Fees

• Annual fee: $0
• Balance transfer fee: 3% of the transfer amount during the 15-month 0% APR period, then no fee after that
• Cash advance fee: $3 or 3% of the withdrawal amount (whichever is greater)
• Foreign transaction fee: None
• Late payment fee: Up to $40
• Returned payment fee: None

This card enjoys the usual Capital One foreign transaction fee waiver, making it a great credit card to take with you abroad.

Interest Rates

• Purchase APR: 17.99% – 27.99% (variable)
• Introductory purchase APR: 0% for 15 months
• Balance transfer APR: 17.99% – 27.99% (variable)
• Introductory balance transfer APR: 0% for 15 months
• Cash advance APR: 27.99% (variable)

Unfortunately, Capital One credit card interest rates run a bit high, so you want to take advantage of the 0% APR period if you want to carry a balance. After the introductory period ends, you may find interest charges racking up quickly.

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Rewards

Rewards Program

The Capital One® Quicksilver® Cash Rewards card offers two tiers of cashback rewards:

• 5% cash back on hotels and car rentals booked through Capital One Travel
• 1.5% cash back on all other purchases

Your rewards won’t expire while your account is open, and there’s no limit on the total rewards you can earn.

The flat cashback rate makes rewards easy to manage—you don’t have to stress about planning your spending to maximize your earnings. The only downside is that you don’t have the ability to rack up cash back in your most-purchased categories the way you would with a rewards card that has rotating categories or customizable rewards.

What You Could Earn

Below is a table of estimates we’ve made for what rewards you could earn for the Capital One® Quicksilver® card based on average spending data in the US. You may find the numbers too conservative or too generous compared to your spending, so take these estimates as guidelines and adjust them to your own spending habits.

With the Capital One® Quicksilver® Cash Rewards card, you can book hotels, car rentals, and flights through Capital One Travel, though you’ll only get 5% cash back on the first two categories.

How to Redeem Points

You can redeem the rewards you earn with the Capital One® Quicksilver® card in any of the following ways:

• Cash: Ask Capital One to send you a check or apply your points as statement credit to your account.
• Amazon: Use your rewards to make purchases on Amazon.com.
• PayPal: Choose PayPal at checkout to use your points to cover certain online purchases.
• Previous purchases: Apply your points to purchases you’ve already made to receive reimbursement.
• Gift cards: Redeem your points as a gift card to send to someone you care about.
• Capital One Travel: Redeem your points for travel bookings through the Capital One Travel portal.
• Capital One entertainment and dining: Use your points to get tickets to sports and music events, VIP packages, artist and athlete meet and greets, food festivals, and exclusive dining events.

Welcome Bonus

If you spend at least $500 on your Capital One® Quicksilver® card within 3 months of opening the card, you’ll earn a $200 cash bonus. This bonus will be applied to your rewards balance.

While this isn’t the largest bonus you’ll find among prime credit cards, it’s pretty generous considering there are no annual fees to offset. On top of that, it’s a very easy bonus to attain—all you need to do is spend at least $167/month for the first 3 months you have your card.

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Benefits

The Capital One® Quicksilver® Cash Rewards card offers cardholders the following benefits:

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How to Get a Capital One® Quicksilver® Card

Credit Score Required

The Capital One® Quicksilver® Cash Rewards card requires excellent credit. An excellent credit score is generally considered to be a FICO score of 740–850, although Capital One doesn’t specify an exact credit score requirement for the Quicksilver® Cash Rewards card.

Instead, Capital One uses the following guidelines to clarify what they mean by “excellent credit”:

• No history of bankruptcy
• No history of loan default
• No delinquencies of 60+ days on any credit card, medical bill, or loan in the last year
• 3+ years of credit history managing a loan or credit card with a credit limit above $5,000

It’s worth noting that Capital One also offers other Quicksilver® credit cards for people with only good or fair credit, and they may automatically consider you for these alternative cards when you apply.

How to Apply

You can apply for the Capital One® Quicksilver® credit card by filling out the online application form. Alternatively, you can apply by phone or mail.

Phone number: (800) 903-9177

Address:

Capital One

Attn: General Correspondence

P.O. Box 30285

Salt Lake City, UT 84130-0285

The entire application process takes just a few minutes when you apply online or by phone. Otherwise, you can expect a response within 7–10 days of applying.

Information Required

When you apply, you’ll be asked to provide some personal information, including:

• Social Security number (SSN) or Individual Taxpayer Identification Number (ITIN)
• Physical address (no P.O. boxes or correctional institutions)
• Estimated gross annual income
• Checking and/or savings account information

Once approved, Capital One will decide your credit limit based on your creditworthiness and your ability to pay.

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FAQs

Does Capital One report to the credit bureaus?

Capital One reports to all three of the main credit bureaus: Equifax, Experian, and TransUnion. This is a significant plus because it means that your Capital One® Quicksilver® credit card account will contribute to all of your credit reports.

Credit reporting is important for maintaining your good credit score since the information that your creditors provide the credit reporting agencies serves as the basis of your credit report.

Can you get a cash advance with the Capital One® Quicksilver® card?

The Capital One® Quicksilver® Cash Rewards card allows you to get cash advances. However, you’ll need to pay a cash advance fee of $3 or 3% of the advance amount (whichever is greater) and the cash advance APR of 27.99% (variable).

Does the Capital One® Quicksilver® card allow balance transfers?

The Capital One® Quicksilver® Cash Rewards card is particularly useful for balance transfers. It offers an intro APR of 0% for 15 months on balances transferred within that same period.

However, during this intro period, you’ll need to pay a balance transfer fee equal to 3% of the transferred amount. You won’t need to pay a fee for any balances transferred after the 0% intro APR expires. This fee also applies to any future promotional APR you may be offered with this card.

Perhaps most notably, you have the entire introductory APR period to initiate your balance transfer. Most balance transfer credit cards only let you set up the transfer within 60–120 days of opening a 0% APR credit card.