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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% on Purchases and Balance Transfers for 9 months
  • No foreign transaction fee

Bonus Offer

One-time $100 cash bonus after you spend $500 on purchases within 3 months of approval

Annual Fee

$0

Intro APR Promotions

0% on Purchases and Balance Transfers for 9 months

APR

  • APR: 13.24% - 23.24% Variable APR
  • Cash Advance APR: 23.24%, Variable

Card Details

  • One-time $100 cash bonus after you spend $500 on purchases within 3 months of approval
  • Earn unlimited 1.5% cash back on every purchase, every day
  • Every 10th Uber ride is free up to $15 when you pay with your Quicksilver card through March 31, 2017
  • 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; 13.24%-23.24% variable APR after that
  • Balance transfers also have a 0% intro APR for 9 months; 13.24%-23.24% 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
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 cash bonus after you spend $500 on purchases within 3 months of approval. The card boasts an annual fee of $0 and an APR of 0% on Purchases and Balance Transfers for 9 months, and then the ongoing APR of 13.24% - 23.24% Variable APR.

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 cash bonus after you spend $500 on purchases within 3 months of approval.

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% on Purchases and Balance Transfers for 9 months, and then the ongoing APR of 13.24% - 23.24% 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.

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 – 18 month BT offer

Apply Now on Citibank's secure website

Pros

  • High rewards rate
  • No annual fee
  • 0% if you qualify for 18 mos on transfers

Bonus Offer

Earn cash back twice on every purchase

Annual Fee

$0

Intro APR Promotions

0% balance transfers for 18 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

  • Earn cash back twice on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
  • Balance Transfers do not earn cash back
  • 0% Intro APR on Balance Transfers for 18 months. After that, the variable APR will be 13.24% - 23.24% based on your creditworthiness
  • Click 'Apply Now' to see the applicable balance transfer fee and how making a balance transfer impacts interest on purchases.
  • No categories to track, no caps on cash back, no annual fee*

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 signup bonus. The first year, you’ll need to spend $20,000 or more to get better rewards from the Citi®Double Cash Card – 18 month BT offer 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 – 18 month BT offer’s higher rewards rate.

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% for 18 months on 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 – 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 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 and Balance Transfers for 12 months

Bonus Offer

Special Offer - Earn 5% cash back on eligible travel purchases in the first 6 months, up to $200. Plus, earn $100 back after you spend $1,000 in purchases on your new Card within the first 3 months. Terms Apply

Annual Fee

$0

Intro APR Promotions

0% on Purchases and Balance Transfers for 12 months

APR

  • APR: 13.24% - 23.24% Variable APR
  • Penalty APR: Up to 29.49%, Variable
  • Cash Advance APR: 25.49%, Variable

Card Details

  • Special Offer - Earn 5% cash back on eligible travel purchases in the first 6 months, up to $200.
  • Plus, earn $100 back after you spend $1,000 in purchases on your new Card within the first 3 months.
  • You will receive cash back in the form of statement credits.
  • Everyday Cash Back: 3% at U.S. supermarkets on up to $6,000 per year in purchases (then 1%); 2% at U.S. gas stations; 1% on other purchases. Terms and limitations apply.
  • 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. You can only earn cash back on eligible purchases.
  • No annual fee. Plus, 0% intro APR on purchases and balance transfers for 12 months, then a variable rate, currently 13.24% to 23.24%, based on your creditworthiness and other factors.
  • Terms and Conditions 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: Special Offer - Earn 5% cash back on eligible travel purchases in the first 6 months, up to $200. Plus, earn $100 back 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 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 $95, but it comes with a bigger signup bonus: Special Offer - Earn 5% cash back on eligible travel purchases in the first 6 months, up to $200. Plus, earn $150 back after you spend $1,000 in purchases on your new Card within the first 3 months. Terms Apply

Let’s do the math! Based on grocery rewards alone, someone who spends more than $3,172 a year (or around $61 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® - Cashback Match™.

Chase Freedom®

Apply Now on Chase's secure website

Pros

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

APR

  • APR: 14.24% - 23.24% Variable APR
  • 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 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate
  • Unlimited 1% cash back on all other purchases - it's automatic
  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 14.24-23.24%. Balance transfer fee is 5% of the amount transferred, $5 minimum
  • Enjoy new 5% categories every 3 months like gas stations, restaurants, and wholesale clubs
  • Cash Back rewards do not 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:

Chase Freedom® bonus rewards 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 wholesale clubs
Q3 (July 1 – Sept. 30)Restaurants and wholesale clubs
Q4 (Oct. 1 – Dec. 31)Department stores, wholesale clubs and drugstores

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.

Discover it® - Cashback Match™

Apply Now on Discover's secure website

Pros

  • Cash back match at the end of your first year
  • Bonus cash back categories
  • No annual fee
  • 0% on purchases for 12 months and 0% on balance transfers for 12 months

Cons

  • Slightly less merchant acceptance for Discover in US - acceptance outside of US can be an issue
  • No sign-up bonus
  • If you value simplicity, a flat rate cash back card may be better

Bonus Offer

Cashback Match™ - We’ll automatically match all the cash back you earn at the end of your first year. New cardmembers only.

Annual Fee

$0

Intro APR Promotions

0% on Purchases and Balance Transfers for 12 months

APR

  • APR: 11.24% - 23.24% Variable APR
  • Cash Advance APR: 25.24%, Variable

Card Details

  • Cashback Match™ - We’ll automatically match all the cash back you earn at the end of your first year. New cardmembers only.
  • Earn 5% cash back in new bonus categories like gas, restaurants, Amazon.com, Sam’s Club and more, on up to $1,500 in purchases every quarter you activate. Plus, unlimited 1% cash back on all other purchases.
  • Redeem your cash back for any amount, any time. Cash rewards never expire.
  • 100% U.S. based customer service.
  • FICO® Credit Scores for free on statements and online.
  • No annual fee.
  • Click "APPLY NOW" to see rates, rewards, FICO® Credit Score terms, Cashback Match™ details & other information.

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

DISCOVER BONUS REWARDS CATEGORIES FOR 2016
Q1 (Jan. 1 – March 31)Gas and ground transportation
Q2 (April 1 – June 30)Restaurants and movies
Q3 (July 1 – Sept. 30)Home improvement and Amazon.com
Q4 (Oct. 1 – Dec. 31)Amazon.com, department stores and Sam's Club

For all other purchases, you’ll get 1% back. The Discover it® - Cashback Match™ 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 – 18 month BT offer the first year provided you spend less than $20,000 and hit the required spend for the signup bonus.

Last updated June 16, 2016. 

Image via iStock.