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

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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, with no annual fee or 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 Credit Card
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on Capital One's
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At a glance
Annual fees $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 no annual fee and an introductory APR of 0% on purchases and balance transfers until December 2015, and then the ongoing APR of 12.9% - 22.9% (Variable).

Example image of Capital One® Quicksilver® Cash Rewards Credit Card

Capital One® Quicksilver® Cash Rewards Credit Card

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Apply Now on Capital One's secure website

Pros

  • High rewards rate
  • No annual fee
  • 0% on purchases and balance transfers until December 2015
  • No foreign transaction fee

Sign-up Bonus

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

Annual Fee

$0

Intro APR Promotions

0% on purchases and balance transfers until December 2015

APR

  • APR: 12.9% - 22.9% (Variable)
  • Penalty APR: Up to 29.4% (V), Variable
  • Cash Advance APR: 24.9% (V), Variable

Card Details

  • One-time $100 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 and no sign ups needed to earn cash rewards
  • Cash back doesn't expire and there's no limit to how much you can earn
  • 0% intro APR on purchases until December 2015; 12.9%-22.9% variable APR after that
  • Balance transfers also have a 0% intro APR until December 2015, a 3% fee applies to each balance transferred
  • Pay no annual fee or foreign transaction fees
  • Capital One® Credit Trackerthe free way to easily monitor your monthly credit score anytime, anywhere

The Capital One® Quicksilver® Cash Rewards Credit Card doesn’t have foreign transaction fees, but it also lacks an EMV chip for safer transactions abroad. Because of this, it’s not the best card for your overseas travel.

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 no annual fee 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 introductory APR of 0% on purchases and balance transfers until December 2015, and then the ongoing APR of 12.9% - 22.9% (Variable)

Nerd note: There are cards with longer 0% introductory 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

Citibank Citi® Double Cash Card Credit Card
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on Citibank's
secure website

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 Double Cash than the Quicksilver. 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 Quicksilver, the Double Cash has no annual fee. There’s also an introductory APR of 0% on purchases and balance transfers for 15 months, and then the ongoing APR of 12.99% - 22.99% (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

American Express Blue Cash Everyday Credit Card
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on American Express's
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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), 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.

If you spend enough to offset the annual fee, 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), 3% back on gas and department store spending, and 1% back on everything else. It has an annual fee of $75 and a 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®. Both boast no annual fees and 0% introductory APRs.

Chase Freedom Credit Card
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on Chase's
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The Chase Freedom® rewards cardholders with 5% back on up to $1,500 in spending per quarter in the following categories:

  • Q1 (January-March): Grocery stores, movie theaters and Starbucks stores
  • Q2 (April-June): Restaurants and more (in 2014, Lowe’s home improvement stores)
  • Q3 (July-September): Gas stations and more (in 2014, Kohl’s)
  • Q4 (October-December): Amazon.com and more (in 2014, Zappos.com and select department stores)

You’ll receive 1% back on all other purchases. There’s a cash signup bonus: get a $100 bonus after spending $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 Credit Card
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on Discover's
secure website

The Discover it® offers 5% back on up to $1,500 in spending per quarter on these categories:

  • Q1 (January-March): Gas and ground transportation
  • Q2 (April-June): Food and fun (in 2014, home improvement stores, furniture stores and Bed Bath & Beyond)
  • Q3 (July-September): Summer spruce up & more (in 2014, gas stations)
  • Q4 (October-December): Holiday shopping & more (in 2014, online shopping and department stores)

For all other purchases, you’ll get 1% back. The Discover it® 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.

  • kpom

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

  • Bryan The Bold

    Yeah, not sure why people seem to think it’s all or nothing. We combine the Blue Cash Preferred (groceries up to $6k/yr) w/ Costco Amex (Gas 3%, Travel 2%) w/ BoA cash rewards (2% on groceries past 6k, businesses that don’t take AMEX). Considering adding this card to cover those non-bonus items (there honestly aren’t that many in our budget) and businesses that don’t take AMEX. It would be a 0.5% increase for those. Haven’t calculated out what that means over the course of a year… probably on the order of $50, so unclear of whether it’s worth the hassle of having the extra card and instructing the wife on usage.

  • Amanda Hope Goodwin

    No. Quicksilver uses visa signature benefits and theft from vehicles is not covered. Loss from theft of your home, fire, and covered weather events will be covered.