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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 is not made of eye-catching metal. It doesn’t have a complicated rewards structure, paying different amounts depending on the type of store or the time of year. And it doesn’t charge fees on every little thing.

Instead, the Capital One® Quicksilver® Cash Rewards Credit Card is the simplest of cards, paying a flat rewards rate of 1.5% on every purchase, and charging modest and predictable 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

Capital One® Quicksilver® Cash Rewards Credit Card

Apply Now on Capital One's secure site
  • Recommended Credit Score
  • 690
    850
    Good - Excellent
  • Card Details
  • Pros

    • High rewards rate
    • No annual fee
    • 0% on Purchases and Balance Transfers for 9 months
    • No foreign transaction fee

    Annual Fees

    $0

    APR

    • APR: 13.74% - 23.74% Variable APR
    • Cash Advance APR: 23.74%, Variable

    Bonus Offers

    One-time $100 cash bonus after you spend $500 on purchases within 3 months from account opening

    Intro APR

    • 0% on Purchases and Balance Transfers for 9 months
  • Additional Information
    • One-time $100 cash bonus after you spend $500 on purchases within 3 months from account opening
    • Earn unlimited 1.5% cash back on every purchase, every day
    • Use your Quicksilver card and get 50% back as a statement credit on your monthly Spotify Premium subscription, now through April 2018
    • 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
    • 0% intro APR on purchases for 9 months; 13.74%-23.74% variable APR after that
    • Balance transfers also have a 0% intro APR for 9 months; 13.74%-23.74% variable APR after that; a 3% fee applies to each balance transferred
    • Pay no annual fee or foreign transaction fees

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
Should I get the Capital One® Quicksilver® Cash Rewards Credit Card?

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

This card pays 1.5% cash back on every purchase, redeemable for a check or a statement credit in any amount, at any time. There are no minimum redemption thresholds to meet and no caps on the amount you can earn. Even better, the annual fee is $0.

There’s also a cash sign-up bonus: One-time $100 cash bonus after you spend $500 on purchases within 3 months from account opening.

The card has an introductory APR of 0% on Purchases and Balance Transfers for 9 months, and then the ongoing APR of 13.74% - 23.74% Variable APR. Keep in mind, though, that the card charges 3% on balance transfers, which takes some of the shine out of the introductory APR offer.

» MORE: 1.5% cash-back is the new gold standard in credit cards

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

The Capital One® Quicksilver® Cash Rewards Credit Card is a solid cash rewards card. It’s not the highest rewards rate around — you can get 2% cash back fairly easily, and there are even a few flat-rate cards out there that pay 2.5%. But the Capital One® Quicksilver® Cash Rewards Credit Card has a lot to recommend it.

Here’s what we like about it:

Simple rewards structure: People who value simplicity will appreciate the Capital One® Quicksilver® Cash Rewards Credit Card’s straightforward rewards program. You don’t have to keep track of rotating bonus rewards categories, opt in every quarter or pay attention to which card you’re using for which purchase. The lack of minimum redemption requirements is also a plus — you can redeem your cash back in any amount.

Reasonable qualification requirements. This card is marketed to people with scores above 690. This is not the only decent rewards card that’s available to people with good (but not excellent) credit, but we appreciate that you don’t have to be pushing 800 to qualify for a decent rewards card with low fees.

Cash sign-up 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 sign-up bonus: One-time $100 cash bonus after you spend $500 on purchases within 3 months from account opening. The low minimum spending requirement to earn the bonus is great because new cardholders won’t feel pressure to overspend just to earn the bonus.

Low fees: The Capital One® Quicksilver® Cash Rewards Credit Card is a good option for fee-haters. It boasts an annual fee of $0 and no foreign transaction fees. The 3% balance transfer fee is the only cloud on the horizon. If a balance transfer is your main purpose in applying for a new credit card, there are better card options without transfer fees.

0% APR on purchases and transfers: Because of the fee, we don’t usually recommend the Capital One® Quicksilver® Cash Rewards Credit Card for balance transfers. But it’s a good option if you need some time to pay off purchases. It has an APR of 0% on Purchases and Balance Transfers for 9 months, and then the ongoing APR of 13.74% - 23.74% Variable APR.

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.

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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 the card long-term

The Citi® Double Cash Card – 18 month BT offer offers 1% cash back when you make purchases and another 1% back when you pay them off. However, there isn’t a sign-up bonus, which means you’d have to spend more than $20,000 in the first year to get better rewards from the Citi® Double Cash Card – 18 month BT offer than the Capital One® Quicksilver® Cash Rewards Credit Card. After the first year, though, the Citi® Double Cash Card – 18 month BT offer’s higher rewards rate is the clear winner.

Like the Capital One® Quicksilver® Cash Rewards Credit Card, the Citi® Double Cash Card – 18 month BT offer has an annual fee of $0. There’s also an introductory APR of 0% on Balance Transfers for 18 months, and then the ongoing APR of 14.24% - 24.24% Variable APR, 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 – 18 month BT offer does have foreign transaction fees of 3% and doesn’t allow for rewards redemption until you hit $25 in rewards. If either of these is a deal breaker for you, the Capital One® Quicksilver® Cash Rewards Credit Card is a better option.

Someone who spends a lot on gas and groceries

Flat rewards are great for consumers with varied spending habits, but 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 at U.S. supermarkets (on up to $6,000 in spending per year — then 1%), an unlimited 2% back on gas and department stores, and 1% back on everything else, plus a sign-up bonus: $100 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months. Terms Apply.

The Blue Cash Everyday® Card from American Express has a big brother, the Blue Cash Preferred® Card from American Express. It offers 6% back at U.S. supermarkets (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 $95, but it comes with a bigger sign-up bonus: $150 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months. Terms Apply.

Someone who spends strategically in rotating bonus categories

If you don’t mind logging in to your account every quarter to opt 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® - Cashback Match™. The current bonus categories for both cards can be found here.

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

You’ll receive 1% back on all other purchases. There’s a sign-up bonus: Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening.

The Discover it® - Cashback Match™ offers 5% back on up to $1,500 in spending per quarter on its own rotating bonus categories.

For all other purchases, you’ll get 1% back. The Discover it® - Cashback Match™ doesn’t have a sign-up bonus that pays out immediately, but it does offer something extra for new cardholders: Get a dollar-for-dollar match of all the cash back you’ve earned at the end of your first year, automatically..

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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 respectable 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. Even if you pay off all of your purchases every month — which you should if you possibly can — it beats out the Citi® Double Cash Card – 18 month BT offer the first year provided you spend less than $20,000 and hit the required spend for the sign-up bonus.

Fancy it is not, but the Capital One® Quicksilver® Cash Rewards Credit Card is a solid cash-back credit card without gimmicks or tricks.

Erin El Issa and Virginia C. McGuire are staff writers at NerdWallet, a personal finance website. Email: erin@nerdwallet.com and virginia@nerdwallet.com. Twitter: @Erin_El_Issa and @vcmcguire.

Updated April 7, 2017.