Capital One Quicksilver Review: A No-Fuss, No-Gimmicks Card

The Capital One Quicksilver Cash Rewards Credit Card is a good option if you value the simplicity of earning a flat rate on all your purchases. You’ll get 1.5% cash back on nearly every purchase, without a bunch of bonus categories to remember or spending limits to keep track of.

The card features other attractive benefits as well, including a solid sign-up bonus, an introductory 0% APR period and low fees (see rates and fees). And if you don’t mind managing multiple cards, you can pair it with a tiered-rewards or rotating bonus card to maximize your earnings.

However, there are a number of flat rate cards on the market that will out-earn the Capital One Quicksilver Cash Rewards Credit Card.

» MORE: Which 1.5% cash-back credit card should you choose?

Capital One Quicksilver Cash Rewards Credit Card: Basics

• Card type: Cash back.

• Annual fee: $0.

• Sign-up bonus: Earn a one-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening.

• Rewards: Unlimited 1.5% cash back on all purchases, plus 5% cash back on hotels and rental cars booked through Capital One Travel.

• Interest rate: 0% intro APR for 15 months on purchases and balance transfers, and then the ongoing APR of 19.99%-29.99% Variable APR; 3% fee on the amounts transferred within the first 15 months.

• Foreign transaction fees: None.

• Credit score requirement: The Capital One Quicksilver Cash Rewards Credit Card is available to applicants with good to excellent credit. However, some applicants with less-than-excellent credit may be offered a different version of this card, one that has the same cash back rewards but not the sign-up bonus or intro APR period. If this is the case, you'll be told during the application process and given the chance to accept or decline.

Simple rewards earning and redemption

Those who value simplicity will appreciate the straightforward 1.5% cash back rewards on the Capital One Quicksilver Cash Rewards Credit Card.

And the ease of use doesn't apply only on the rewards-earning side. While many competitors require you to amass as much as $25 in rewards before you can cash out, the Capital One Quicksilver Cash Rewards Credit Card doesn't have a minimum redemption amount. You’ll be able to redeem your cash back for any amount and at any time.

Sign-up bonus

The Capital One Quicksilver Cash Rewards Credit Card has a solid sign-up bonus: Earn a one-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening. While you can find higher sign-up bonuses on credit cards with annual fees, you'd have a hard time finding a higher bonus on a card with no annual fee.

0% intro APR offer

This card features an introductory APR of 0% intro APR for 15 months on purchases and balance transfers, and then the ongoing APR of 19.99%-29.99% Variable APR; 3% fee on the amounts transferred within the first 15 months. The lengthy window for purchases and balance transfers can offer some breathing room on interest payments and can help those who need to make a big purchase or pay down transferred debt.

Keep in mind that there is a 3% fee charged for each balance transferred, so it's important to weigh that cost against current long-term interest payments to determine the best course.

Low fees

The Capital One Quicksilver Cash Rewards Credit Card is a good option for the fee-averse. It charges an annual fee of $0. And because it has no foreign transaction fees, it can be a good option to take with you when traveling internationally.

You can get a higher flat rate

The Capital One Quicksilver Cash Rewards Credit Card set the 1.5% standard for an entire generation of cash-back credit cards. But nowadays, there are a growing number of cards on the market that offer a flat rate of at least 2% back.

For example, the Wells Fargo Active Cash® Card pays an unlimited 2% cash back on purchases. It also features a sign-up bonus as well as an introductory interest-free period on purchases and balance transfers: 0% intro APR on Purchases for 15 months and 0% intro APR on Balance Transfers 15 months from account opening on qualifying balance transfers, and then the ongoing APR of 20.24%, 25.24%, or 29.99% Variable APR.

Limited opportunities for bonus rewards

The card only earns more than 1.5% for a very specific type of purchase through the issuer: 5% cash back on hotels and rental cars booked through Capital One Travel. Otherwise, it earns 1.5% on everything. Flat-rate rewards are ideal for people with varied spending habits. However, if you spend a significant chunk of your budget in specific spending areas, like gas and groceries for example, consider a card that specifically rewards these types of transactions. The $0-annual-fee Blue Cash Everyday® Card from American Express, for instance, earns 3% cash back at U.S. supermarkets, at U.S. gas stations and on U.S. online retail purchases (on up to $6,000 per year in spending in each category). Other purchases earn 1% back. (Terms apply — see rates and fees.)

If you spend a lot at the supermarket, take a look at the Blue Cash Preferred® Card from American Express. It charges a $0 intro annual fee for the first year, then $95. Still, it packs richer rewards: 6% cash back at U.S. supermarkets, on up to $6,000 a year in spending (then 1%); 6% cash back on select U.S. streaming subscriptions; 3% cash back at U.S. gas stations and on transit; and 1% cash back on all other purchases. These cards also include welcome offers for new cardholders and 0% introductory APR periods. (Terms apply — see rates and fees.)

Alternatively, if you don't mind logging into your account every quarter to opt into bonus rewards categories, you may want to opt for a 5% rotating bonus category card like the Chase Freedom Flex℠ or the Discover it® Cash Back.

Both of these cards earn 5% cash back in categories that change every three months; you have to opt in to the category each time it changes. The 5% cash back is good on up to $1,500 per quarter in spending. All other spending earns 1% cash back. The current bonus categories for both cards can be found here.

The Capital One Quicksilver Cash Rewards Credit Card is a simple and easy-to-use option. Although the card doesn't pay the highest flat cash-back rate on the market, it offers a compelling combination of rewards and redemption simplicity, low fees, sign-up bonus and 0% APR period (see rates and fees).

But if what you mostly care about is a card's ongoing rewards rate, you can find richer options.

To learn more about how your cash-back credit card options might stack up, check out our best credit cards page.

» MORE: SavorOne vs. Quicksilver: SavorOne wins in close Capital One duel