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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.

https://www.nerdwallet.com/lib/redirect.php?name=Capital-One-Cash-Credit-Card&uv=2gJ5mg%2FUvqmTeTupnJwlBbn%2BMMwHolhsblhsKlQ95dFrGWBOjhKB6pYdiaClgX313ObYDDBXLjZrMg%3D%3D&clickHeader_category=Credit%20Card&clickHeader_productId=11718

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

    Cons

    Annual Fees

    $0

    APR

    • APR: 13.49% - 23.49% Variable APR
    • Cash Advance APR: 23.49%, Variable

    Bonus Offers

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

    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 of approval
    • 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
    • 0% intro APR on purchases for 9 months; 13.49%-23.49% variable APR after that
    • Balance transfers also have a 0% intro APR for 9 months; 13.49%-23.49% 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 13.49% - 23.49% 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 13.49% - 23.49% 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

https://www.nerdwallet.com/lib/redirect.php?name=Citibank-Double-Cash-Card&uv=2gJ5mg%2FUvqmTeTupnJwlBbn%2BMMwHolhsblhsKlQ95dFrGWBOjhKB6pYdiaClgX313ObYDDBXLjZrMg%3D%3D&clickHeader_category=Credit%20Card&clickHeader_productId=4220

Citi® Double Cash Card – 18 month BT offer

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

    • High rewards rate
    • No annual fee
    • 0% on Balance Transfers for 18 months

    Cons

    Annual Fees

    $0

    APR

    • APR: 13.99% - 23.99% Variable APR
    • Penalty APR: Up to 29.99%, Variable
    • Cash Advance APR: 25.74%, Variable

    Bonus Offers

    Earn cash back twice on every purchase

    Intro APR

    • 0% on Balance Transfers for 18 months
  • Additional Information
    • 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 13.99% - 23.99% 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% on Balance Transfers for 18 months, and then the ongoing APR of 13.99% - 23.99% 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 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

https://www.nerdwallet.com/lib/redirect.php?name=American-Express-Blue-Cash&uv=2gJ5mg%2FUvqmTeTupnJwlBbn%2BMMwHolhsblhsKlQ95dFrGWBOjhKB6pYdiaClgX313ObYDDBXLjZrMg%3D%3D&clickHeader_category=Credit%20Card&clickHeader_productId=1006

Blue Cash Everyday® Card from American Express

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

    • No annual fee
    • 0% on Purchases and Balance Transfers for 12 months

    Cons

    Annual Fees

    $0

    APR

    • APR: 13.49% - 23.49% Variable APR
    • Penalty APR: Up to 29.74%, Variable
    • Cash Advance APR: 25.74%, Variable

    Bonus Offers

    Limited Time Offer: Apply by 5/3/17 – Earn 10% cash back on purchases at U.S. Restaurants in the first 6 months, up to $200 back. Earn $100 back after you spend $1,000 in purchases on your new Card in your first 3 months. You will receive cash back in the form of statement credits. Terms Apply.

    Intro APR

    • 0% on Purchases and Balance Transfers for 12 months
  • Additional Information
    • Limited Time Offer: Apply by 5/3/17 – Earn 10% cash back on purchases at U.S. Restaurants in the first 6 months, up to $200 back.
    • Plus, earn $100 back after you spend $1,000 in purchases on your new Card within the first 3 months.
    • 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 13.49% to 23.49%, based on your creditworthiness and other factors.
    • Terms Apply.

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 at U.S. supermarkets (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: Limited Time Offer: Apply by 5/3/17 – Earn 10% cash back on purchases at U.S. Restaurants in the first 6 months, up to $200 back. Earn $100 back after you spend $1,000 in purchases on your new Card in your first 3 months. You will receive cash back in the form of statement credits. 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 signup bonus: Limited Time Offer: Apply by 5/3/17 – Earn 10% cash back on purchases at U.S. Restaurants in the first 6 months, up to $200 back. Earn $150 back after you spend $1,000 in purchases on your new Card in your first 3 months. Terms Apply.

Let’s do the math! Based on supermarket rewards alone, someone who spends more than $3,172 a year (or around $61 a week) at qualifying supermarkets 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™.

https://www.nerdwallet.com/lib/redirect.php?name=Chase-Freedom-100-Cash-Back&uv=2gJ5mg%2FUvqmTeTupnJwlBbn%2BMMwHolhsblhsKlQ95dFrGWBOjhKB6pYdiaClgX313ObYDDBXLjZrMg%3D%3D&clickHeader_category=Credit%20Card&clickHeader_productId=3200

Chase Freedom®

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

    • No annual fee
    • 5% rewards on rotating categories
    • Access to Chase’s Ultimate Rewards site to earn more cash back

    Cons

    • If you value simplicity, a flat rate cash back card may be better
    • A foreign transaction fee

    Annual Fees

    $0

    APR

    • APR: 15.49% - 24.24% Variable APR
    • Cash Advance APR: 25.49%, Variable

    Bonus Offers

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

    Intro APR

    • 0% on Purchases and Balance Transfers for 15 months
  • Additional Information
    • 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 15.49-24.24%. Balance transfer fee is 5% of the amount transferred, $5 minimum
    • Enjoy new 5% categories every 3 months
    • 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 selected categories. Current categories:

Chase Freedom® bonus rewards categories for 2017
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 drugstores
Q3 (July 1 – Sept. 30)"Summer Fun" (details TBA)
Q4 (Oct. 1 – Dec. 31)"Holiday" (details TBA)

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.

https://www.nerdwallet.com/lib/redirect.php?name=Discover-It&uv=2gJ5mg%2FUvqmTeTupnJwlBbn%2BMMwHolhsblhsKlQ95dFrGWBOjhKB6pYdiaClgX313ObYDDBXLjZrMg%3D%3D&clickHeader_category=Credit%20Card&clickHeader_productId=6043

Discover it® - Cashback Match™

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

    • Cash back match at the end of your first year
    • Bonus cash back categories
    • No annual fee
    • 0% on purchases for 14 months and 0% on balance transfers for 14 months

    Cons

    • Slightly less merchant acceptance for Discover in US - acceptance outside of US can be an issue
    • If you value simplicity, a flat rate cash back card may be better

    Annual Fees

    $0

    APR

    • APR: 11.49% - 23.49% Variable APR
    • Cash Advance APR: 25.49%, Variable

    Bonus Offers

    Get a dollar-for-dollar match of all the cash back you’ve earned at the end of your first year, automatically.

    Intro APR

    • 0% on Purchases and Balance Transfers for 14 months
  • Additional Information
    • Get a dollar-for-dollar match of all the cash back you’ve earned at the end of your first year, automatically.
    • Earn 5% cash back in rotating categories each quarter like gas stations, Amazon.com, restaurants, wholesale clubs and more, up to the quarterly maximum each time 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.
    • Get your FICO® Credit Score for free on monthly 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 CATEGORIES FOR 2017
Q1 (Jan. 1 – March 31)Gas stations, ground transportation and wholesale clubs
Q2 (April 1 – June 30)Home improvement stores and wholesale clubs
Q3 (July 1 – Sept. 30)To be announced
Q4 (Oct. 1 – Dec. 31)To be announced

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.