Capital One Quicksilver: A No-Fee, No-Gimmicks Cash Card - NerdWallet
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Capital One Quicksilver: A No-Fee, No-Gimmicks Cash Card

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Capital One® Quicksilver® Cash Rewards Credit Card Editor's Rating: 4.6 / 5

The Capital One® Quicksilver® Cash Rewards Credit Card, one of the best low fee credit cards out there, earns a solid 1.5% back on all purchases made. It’s low maintenance, has an annual fee of $0 and charges no foreign transaction fees. We’ll break down the Capital One® Quicksilver® Cash Rewards Credit Card’s benefits and compare it to the best cash back credit cards on the market so you can determine if it’s right for you.

Capital One® Quicksilver® Cash Rewards Credit Card

Apply Now on Capital One's secure website

Pros

  • High rewards rate
  • No annual fee
  • 0% intro on purchases until November 2016 and 0% intro on balance transfers until November 2016
  • No foreign transaction fee

Bonus Offer

One-time $100 bonus after you spend $500 on purchases within the first 3 months

Annual Fee

$0

Intro APR Promotions

0% intro on purchases until November 2016 and 0% intro on balance transfers until November 2016

APR

  • APR: 13.24% - 23.24% (Variable)

Card Details

  • One-time $100 cash bonus after you spend $500 on purchases within the first 3 months
  • Earn unlimited 1.5% cash back on every purchase, every day
  • No rotating categories or sign ups needed to earn cash rewards; plus, cash back doesn’t expire and there’s no limit to how much you can earn
  • Get a 20% Statement Credit on Uber rides purchased with this card through April 2016
  • 0% intro APR on purchases until November 2016; 13.24%-23.24% variable APR after that
  • Balance transfers also have a 0% intro APR until November 2016; 13.24%-23.24% variable APR after that; a 3% fee applies to each balance transferred
  • Pay no annual fee or foreign transaction fees
  • Capital One® Credit Tracker - a free way to easily monitor your monthly credit score anytime, anywhere

At a glance
Annual fee $0
Foreign transaction fee None
Rewards program Cash back, redeemable as a check or statement credit
Signup bonus One-time $100 bonus after you spend $500 on purchases within the first 3 months
Verdict: Ideal for cardholders who want a simple, straightforward card. You don’t have to worry about annual fees, changing bonus categories or rewards gimmicks.
Good for:
  • Someone who wants a high-earning, no-fees, no-hassles card
  • Someone who prefers cash back to travel rewards
  • Someone who wants a quick cash bonus
Bad for:
  • Someone who plans on keeping his or her card long-term
  • Someone who spends a lot on gas and groceries
  • Someone who spends according to a rotating bonus rewards schedule

In this article:

Capital One® Quicksilver® Cash Rewards Credit Card: The basics
Where the Capital One® Quicksilver® Cash Rewards Credit Card shines
Where the Capital One® Quicksilver® Cash Rewards Credit Card falls short
The bottom line: Should I get the Capital One® Quicksilver® Cash Rewards Credit Card?

Capital One® Quicksilver® Cash Rewards Credit Card: The basics

Earn 1.5% cash back on every purchase, redeemable for check or statement credit in any amount, at any time. There’s also a cash signup bonus: One-time $100 bonus after you spend $500 on purchases within the first 3 months. The card boasts an annual fee of $0 and an APR of 0% intro on purchases until November 2016 and 0% intro on balance transfers until November 2016, and then the ongoing APR of 13.24% - 23.24% (Variable).

Let’s take a look at why you might want to get the Capital One® Quicksilver® Cash Rewards Credit Card and why you might want to avoid it.

Where the Capital One® Quicksilver® Cash Rewards Credit Card shines

The Capital One® Quicksilver® Cash Rewards Credit Card is a solid cash rewards card. Here are some of the Nerds’ favorite card benefits:

Simple rewards structure: Folks who value simplicity will rejoice at the Capital One® Quicksilver® Cash Rewards Credit Card’s straightforward rewards program. You don’t have to opt into rewards or keep track of rotating bonus rewards categories, it’s a flat unlimited 1.5% cash back on every purchase. You’ll also enjoy the lack of redemption caps — you can redeem your cash back in any amount.

Cash signup bonus: The only thing better than earning cash is earning cash with minimal effort. The Capital One® Quicksilver® Cash Rewards Credit Card has a solid signup bonus: One-time $100 bonus after you spend $500 on purchases within the first 3 months.

Low fees: The Capital One® Quicksilver® Cash Rewards Credit Card is a good option for fee-haters everywhere — it boasts an annual fee of $0 and no foreign transaction fees. You will have to pay a 3% fee if you use this card for a balance transfer, but there are better card options without transfer fees.

0% APR on purchases and transfers: While we don’t necessarily recommend the Capital One® Quicksilver® Cash Rewards Credit Card for balance transfers, it’s a good option if you need some time to pay off purchases. It has an APR of 0% intro on purchases until November 2016 and 0% intro on balance transfers until November 2016, and then the ongoing APR of 13.24% - 23.24% (Variable).

Nerd note: There are cards with longer introductory promo APRs if you need more time to pay off your purchases. Check out our favorite 0% credit cards.

Where the Capital One® Quicksilver® Cash Rewards Credit Card falls short

While we love the Capital One® Quicksilver® Cash Rewards Credit Card’s easy rewards program, it isn’t the best card for everyone. Here are a few alternate cards you may want to consider if your spending fits one of these profiles:

Someone who plans on keeping his or her card long-term

Citi®Double Cash Card

Apply Now on Citibank's secure website

Pros

  • High rewards rate
  • No annual fee
  • 0% if you qualify for 15 mos on transfers

Cons

  • Needs excellent credit

Bonus Offer

The only card that earns you cash back twice on every purchase

Annual Fee

$0

Intro APR Promotions

0% on purchases and balance transfers for 15 months*

APR

  • Min APR: 13.24%, Variable
  • Max APR: 23.24%, Variable
  • Penalty APR: Up to 29.99%, Variable
  • Cash Advance APR: 25.49%, Variable

Card Details

  • 0% Intro APR on Balance Transfers and Purchases for 15 months. After that, the variable APR will be 13.24%-23.24%, based on your creditworthiness*
  • There is a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater
  • The only card that earns you cash back twice on every purchase with:
  • 1% cash back when you buy
  • Plus 1% cash back as you pay for those purchases, whether you pay in full or over time*
  • No Category Restrictions, No Caps, No Enrollments in Rotating Categories
  • No Annual Fee

The Citi®Double Cash Card offers 1% cash back when you make purchases and another 1% back when you pay them off. However, there isn’t a signup bonus. The first year, you’ll need to spend $20,000 or more to get better rewards from the Citi®Double Cash Card than the Capital One® Quicksilver® Cash Rewards Credit Card. So if you aren’t a big spender and don’t plan on keeping the card longer than a year, the Capital One® Quicksilver® Cash Rewards Credit Card is the better choice. But most people will benefit from the Citi®Double Cash Card’s higher rewards rate.

Like the Capital One® Quicksilver® Cash Rewards Credit Card, the Citi®Double Cash Card has an annual fee of $0. There’s also an introductory APR of 0% for 15 months on purchases and balance transfers, and then the ongoing APR of 13.24% - 23.24% Variable , which is better for cardholders who need a longer 0% period than the Capital One® Quicksilver® Cash Rewards Credit Card offers.

Keep in mind, the Citi®Double Cash Card does have foreign transaction fees of 3% and doesn’t allow for rewards redemption until you hit $25 in rewards. If either of these are deal breakers for you, the Capital One® Quicksilver® Cash Rewards Credit Card is a better option.

Someone who spends a lot on gas and groceries

Blue Cash Everyday® Card from American Express

Apply Now on American Express's secure website

Pros

  • No annual fee
  • 0% on Purchases for 15 months and 0% on Balance Transfers for 15 months

Cons

  • Needs excellent credit

Bonus Offer

Get $100 back after you spend $1,000 in purchases on your new Card in your first 3 months. You will receive $100 back in the form of a statement credit.

Annual Fee

$0

Intro APR Promotions

0% on Purchases for 15 months and 0% on Balance Transfers for 15 months

APR

  • APR: 13.24%-22.24% Variable
  • Penalty APR: Up to 29.49%, Variable
  • Cash Advance APR: 25.49%, Variable

Card Details

  • Get $100 back after you spend $1,000 in purchases on your new Card in your first 3 months. You will receive $100 back in the form of a statement credit.
  • Earn Cash Back: 3% U.S. supermarkets up to $6,000 per year in purchases (then 1%), 2% U.S. gas stations & select U.S. dept stores, 1% other purchases. Terms and limitations apply.
  • With the Blue Cash Everyday® Card, you can start earning cash back. No rotating reward categories. No enrollment required.
  • Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit. Cash back is earned only on eligible purchases.
  • No annual fee. Plus, 0% intro APR on purchases and balance transfers for 15 months, then a variable rate, currently 13.24% to 22.24%, based on your creditworthiness and other factors.
  • Terms and restrictions apply.
  • View Rates and Fees

Flat rewards are great for consumers with varied spending habits, but typical suburban spenders who make a lot of  gas and grocery purchases should get a card that rewards these types of transactions. Enter the Blue Cash Everyday® Card from American Express. It offers 3% cash back on groceries (on up to $6,000 in spending — then 1%), an unlimited 2% back on gas and department stores, and 1% back on everything else, plus a signup bonus: Get $100 back after you spend $1,000 in purchases on your new Card in your first 3 months. You will receive $100 back in the form of a statement credit.

The Blue Cash Everyday® Card from American Express has a big brother, the Blue Cash Preferred® Card from American Express. It offers 6% back on groceries (on up to $6,000 in spending — then 1%), 3% back on gas and department store spending, and 1% back on everything else. It does have an annual fee of $75, but it comes with a bigger signup bonus: Get $150 back after you spend $1,000 in purchases on your new Card in your first 3 months. You will receive $150 back in the form of a statement credit.

Let’s do the math! Based on grocery rewards alone, someone who spends more than $2,500 a year (or around $50 a week) on groceries will derive greater benefit from the Blue Cash Preferred® Card from American Express.

Someone who spends according to a rotating bonus rewards schedule

If you don’t mind opting into bonus rewards categories, you may want to check out one of the 5% credit cards. Two of the top options are the Chase Freedom® and the Discover it®- Double Cash Back your first year.

Chase Freedom®

Apply Now on Chase's secure website

Pros

  • Bonus 5% cash back categories
  • No annual fee
  • 0% intro APR on purchases and balance transfers
  • Qualify with Good credit

Cons

  • If you value simplicity, a flat rate cash back card may be better

Bonus Offer

Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening

Annual Fee

$0

Intro APR Promotions

0% for 15 Months on purchases and 0% Intro APR for 15 months on balance transfers

APR

  • APR: 14.24-23.24% Variable
  • Cash Advance APR: 25.24%, Variable

Card Details

  • Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening
  • Earn a $25 Bonus after you add your first authorized user and make a purchase within this same 3-month period
  • 0% Intro APR for 15 months on purchases and balance transfers. After the intro period, a variable APR of 14.24-23.24%
  • Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate
  • Enjoy new 5% categories every 3 months like gas stations, restaurants, and select grocery stores
  • Unlimited 1% cash back on all other purchases - it's automatic
  • Cash Back rewards never expire as long as your account is open
  • No annual fee

The Chase Freedom® rewards cardholders with 5% back on up to $1,500 in spending per quarter in the selected categories. For 2016:

Q1 (Jan. 1 – March 31)

Gas stations and local commuter transportation (not including parking, tolls or Amtrak)

Q2 (April 1 – June 30)

Grocery stores and more

Q3 (July 1 – Sept. 30)

Restaurants and more

Q4 (Oct. 1 – Dec. 31)

Holiday shopping (specifics to be announced)

You’ll receive 1% back on all other purchases. There’s a signup bonus: Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening. And if you add an authorized user and make a purchase within the first three months, you’ll receive an additional $25.

Discover it®- Double Cash Back your first year

Apply Now on Discover's secure website

Pros

  • Bonus cash back categories
  • No annual fee
  • 0% on purchases for 12 months and 0% on balance transfers for 12 months
  • No foreign transaction fee

Bonus Offer

We'll DOUBLE all the cash back you've earned at the end of your first year. So if you earned $101 cash back, we'll double it to $202—Automatically. Only for new cardmembers.*

Annual Fee

$0

Intro APR Promotions

0% on purchases for 12 months and 0% on balance transfers for 12 months

APR

  • APR: 11.24% – 23.24% Variable*
  • Cash Advance APR: 25.24%, Variable

Card Details

  • We'll DOUBLE all the cash back you've earned at the end of your first year. So if you earned $101 cash back, we'll double it to $202—Automatically. Only for new cardmembers.*
  • 5% cash back in categories that change each quarter like gas, restaurants, home improvement stores and more -up to the quarterly maximum when you sign up.* 1% cash back on all other purchases.
  • 0% intro APR* on purchases & balance transfers for 12 months—then a variable purchase APR applies, currently 11.24% – 23.24%. A 3% fee applies to each transferred balance.
  • Freeze It℠ on/off switch lets you prevent new purchases, cash advances & balance transfers on misplaced cards in seconds by mobile app & online.* Plus get 100% U.S.-based service.
  • Track your recent FICO® Credit Scores for free in one easy-to-read chart on monthly statements & online.*
  • No annual fee.* No overlimit fee. No foreign transaction fee. No late fee on first late payment & paying late won't raise your APR.*
  • Each Discover purchase is monitored. If it's unusual, you're alerted by e-mail, phone or text and you're never responsible for unauthorized purchases on your Discover card.
  • Click "Apply Now". *See rates, rewards, FICO® Credit Score terms & other information.

The Discover it®- Double Cash Back your first year offers 5% back on up to $1,500 in spending per quarter on these categories:

Q1 (Jan. 1 – March 31)

Gas and ground transportation

Q1 (April 1 – June 30)

Restaurants and movies

Q1 (July 1 – Sept. 30)

TBD
(In 2015, it was Amazon.com, department stores and home improvement stores)

Q1 (Oct. 1 – Dec. 31)

TBD
(In 2015, it was Amazon.com, department stores and clothing stores)

For all other purchases, you’ll get 1% back. The Discover it®- Double Cash Back your first year doesn’t have a signup bonus.

The bottom line: Should I get the Capital One® Quicksilver® Cash Rewards Credit Card?

The Capital One® Quicksilver® Cash Rewards Credit Card doesn’t have the highest rewards, but it is a solid option for easy rewards earning and redemption. You’ll never have to opt into bonus rewards categories, and you can redeem your cash back in any amount. And even if you pay off all of your purchases — which you definitely should — it beats out the Citi®Double Cash Card the first year provided you spend less than $20,000 and hit the required spend for the signup bonus.

Image via iStock.

  • Kevin

    I see people talking about the QuickSilverOne from Capital One. I received a similar offer but they made it sound like an option. I didn’t have to if I didn’t want to but who wouldn’t unless you have a better offer with what you already have. I was planning on applying for the QuickSilver card but if I just upgrade then there’s no ding on my credit and I want to avoid inquiries.

  • Kevin

    I see people talking about the QuickSilverOne from Capital One. I received a similar offer but they made it sound like an option. I didn’t have to if I didn’t want to but who wouldn’t unless you have a better offer with what you already have. I was planning on applying for the QuickSilver card but if I just upgrade then there’s no ding on my credit and I want to avoid inquiries.

  • newfydog

    I ordered one, but cancelled it….they hit me with a $39 membership fee up front. Absolutely no mention of it in anything I filled out. They said it was that I didn’t qualify for a no fee card, which is weird because I qualify for everything else in the financial universe.

  • newfydog

    I ordered one, but cancelled it….they hit me with a $39 membership fee up front. Absolutely no mention of it in anything I filled out. They said it was that I didn’t qualify for a no fee card, which is weird because I qualify for everything else in the financial universe.

  • kpom

    True, it is very adult to take 1.5% cash back vs. riling people.

  • kpom

    True, it is very adult to take 1.5% cash back vs. riling people.

  • John Shea Gilbert

    I need help! I’ve been married for 16 yrs and NEVER had a CC. Just never had a need for one. I’ve always paid for everything with cash. But recently it was suggested to me to get one for the rewards because I would like to travel. Problem is that I just recently started to build my credit since I’ve always pd w cash. Currently my credit score is 625. So which CC should I apply for that would accept me and have good rewards ? Thanks

    • cabowabo78727 .

      GO for the Capital One QuickSilver card. I applied for one about 4 months ago. I was approved online and it came quickly in the mail. I use it everywhere now. It has the new security chip imbedded for added security. I love Capital One’s online banking interface. It is really easy to use and understand. I’ve racked up $45 in rewards in a very short time. Why pay with cash or a debit card when you can get 1.5% back? Having a credit card, which you pay off in full every month, should help your credit score. BTW, it includes a credit score page tied to Trans Union, which graphs your score for you. Very Nice!

  • John Shea Gilbert

    I need help! I’ve been married for 16 yrs and NEVER had a CC. Just never had a need for one. I’ve always paid for everything with cash. But recently it was suggested to me to get one for the rewards because I would like to travel. Problem is that I just recently started to build my credit since I’ve always pd w cash. Currently my credit score is 625. So which CC should I apply for that would accept me and have good rewards ? Thanks

  • Elijah Simms

    Got this credit card about two months ago. What I DIDN’T know is that when you withdraw money from an ATM machine, you are going to be charged a 10.00 advance cash fee, plus whatever fee the ATM charges. Looked over my statement and saw THREE 10.00 charges for advance ATM cash advance fees. When I called, I was told 10.00 will be charged every time I withdraw from an ATM, and to add insult to injury, you will be charged INTEREST “immediately” on this fee. What a JOKE! Since you can’t withdraw money by PIN at a grocery store, you have no choice to use ATM for emergency cash withdrawals. BEWARE everyone! I even thought there were free ATM’s for capital one, but was still charged! Wow!! I will NEVER use my card for an ATM withdrawal again! LESSON LEARNED!!!!!!!!!!!!!!!!!!!!!!!!

    • http://www.nerdwallet.com/ NerdWallet

      Hi Elijah – Cash advances can definitely be costly. To learn more about how cash advances work, you should take a look at this article http://www.nerdwallet.com/blog/credit-cards/what-is-a-cash-advance/

    • Corey

      Reading the Terms and Conditions (as you should with any Credit Card) it clearly states there is a $10.00, or 5% Cash Advance Fee, whichever is greater. Just putting that out there, you can’t get money from a Credit Card for “free”.

  • Elijah Simms

    Got this credit card about two months ago. What I DIDN’T know is that when you withdraw money from an ATM machine, you are going to be charged a 10.00 advance cash fee, plus whatever fee the ATM charges. Looked over my statement and saw THREE 10.00 charges for advance ATM cash advance fees. When I called, I was told 10.00 will be charged every time I withdraw from an ATM, and to add insult to injury, you will be charged INTEREST “immediately” on this fee. What a JOKE! Since you can’t withdraw money by PIN at a grocery store, you have no choice to use ATM for emergency cash withdrawals. BEWARE everyone! I even thought there were free ATM’s for capital one, but was still charged! Wow!! I will NEVER use my card for an ATM withdrawal again! LESSON LEARNED!!!!!!!!!!!!!!!!!!!!!!!!

  • neminem

    I went to upgrade my personal card that only got me 1% back, as I kept hearing about the amazing 2% back of that Double Cash card. After researching it a bit more, I discovered two things: one, the Double Cash card is a Mastercard, which I already don’t prefer, as I’ve seen enough places that strongly prefer Visa, and except for Costco (which is going away soon), haven’t ever seen a place that takes credit cards but *doesn’t* take Visa. Secondly, general consensus seems to be that Capital One has pretty good customer service if anything goes wrong, and general consensus seems to be that CitiBank’s customer service is pretty much garbage.

    So I ended up getting this one instead. Hopefully I’ll feel like I made the right choice. An extra .5% back isn’t nothing, but it isn’t worth sacrificing decent customer service for.

  • papa29

    Citicard gives you 1% on every purchase and !% for every dollar paid so in effect, you get 2%. I also have a VISA card through Pentagon Federal that pays 5% on gasoline purchases.