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

The Capital One Quicksilver Cash Rewards Credit Card set the standard for an entire generation of cash-back credit cards with an extremely simple value proposition: 1.5% cash back on every purchase, every day.

By itself, the sheer simplicity of the rewards is enough to recommend the card. You get an excellent cash-back rate with no bonus categories to remember or spending limits to keep track of. But the Capital One Quicksilver Cash Rewards Credit Card goes even further by offering low fees, a solid sign-up bonus, easy rewards redemption and a lengthy introductory 0% APR period.

» 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: 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.

• Interest rate: 0% intro APR on Purchases for 15 months, and then the ongoing APR of 15.49% - 25.49% Variable APR.

• Balance transfer fee: 3%.

• Foreign transaction fees: None.

» MORE: Benefits of the Capital One Quicksilver Cash Rewards Credit Card

Where the Capital One Quicksilver Cash Rewards Credit Card shines

Simple rewards earning and redemption

People who value simplicity will appreciate the straightforward rewards on the Capital One Quicksilver Cash Rewards Credit Card. And the ease of use doesn't apply only on the rewards-earning side. The card doesn't have a minimum redemption amount. 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 lets you redeem for any amount at any time. Want to redeem $1.89 worth of rewards and get that soft drink for free? Go right ahead.

Cash sign-up bonus

The only thing better than earning cash is earning it with minimal effort. The Capital One Quicksilver Cash Rewards Credit Card has a solid sign-up bonus with a fairly low spending requirement to earn it — meaning you're less likely to feel pressured to overspend.

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's one of the best cash-back cards to take with you when traveling internationally. Even the 3% balance-transfer fee is lower than what many of its rivals charge. (Still, if a balance transfer is your main purpose in applying for a new credit card, there are better card options without transfer fees.)

Great 0% APR period

Because of the transfer fee, we don't usually recommend this card for balance transfers. But it's a great option if you have a big purchase coming up that will take a few months to pay off. It has an introductory APR of 0% intro APR on Purchases for 15 months, and then the ongoing APR of 15.49% - 25.49% Variable APR.

Reasonable qualification requirements

This card is marketed to people with good credit, which we generally define as 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.

» MORE: Capital One credit cards mobile app review

Why you might want a different card

The Capital One Quicksilver Cash Rewards Credit Card has a lot going for it, but it isn't the best fit for everyone.

You can get a higher flat rate

The Citi® Double Cash Card – 18 month BT offer pays 2% cash back on purchases — 1% when you make them, plus another 1% when you pay them off. That's obviously a better rate than the 1.5% on the Capital One card. However, the Citi card does not offer a sign-up bonus. Taking the bonus into account, you'd have to spend $30,000 with the Citi® Double Cash Card – 18 month BT offer before your total rewards exceed those on the Capital One Quicksilver Cash Rewards Credit Card. Once you reach that milestone, though, you'll always be ahead in terms of rewards.

Rewards rate aside, the Citi® Double Cash Card – 18 month BT offer lags the Capital One Quicksilver Cash Rewards Credit Card in a couple key areas:

• It has no 0% APR period for purchases.

• It charges a foreign transaction fee of 3%.

• You can't redeem your cash back until you have accumulated at least $25 in rewards.

If any of these is a dealbreaker for you, go for the Capital One Quicksilver Cash Rewards Credit Card.

You can get bonus rewards on gas and groceries

Flat-rate rewards are perfect for consumers with varied spending habits. People who spend a significant chunk of their budget on gas and groceries should consider a card that specifically rewards these types of transactions. Enter the no-annual-fee 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%),  2% back at U.S. gas stations and select U.S. department stores, and 1% back on everything else. (Terms apply.)

If you spend at least $61 a week at the supermarket, take a look at the Blue Cash Preferred® Card from American Express. It charges an annual fee of $0 intro for the first year, then $95 but pays much 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. (Terms apply.)

These cards also include bonus offers for new cardholders and 0% introductory APR periods.

Strategic spending can earn you 5%

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 — 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.

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

The Capital One Quicksilver Cash Rewards Credit Card vs. the Chase Freedom Unlimited®

Probably the best-known rival to the Capital One Quicksilver Cash Rewards Credit Card in the 1.5% cash-back game is the Chase Freedom Unlimited®. The cards have identical rewards rates, both allow you to redeem cash back in any amount, and they have similar 0% APR periods, too.

Three noteworthy differences:

• The Chase Freedom Unlimited® offers a larger cash bonus: Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening. Plus, you'll earn 5% on travel purchased through Chase and 3% on dining at restaurants and drugstores. All other purchases earn 1.5% back.

• The Chase Freedom Unlimited® charges a 3% foreign transaction fee. If you expect to be doing a lot of spending during international travel, the Capital One Quicksilver Cash Rewards Credit Card is the more cost-effective choice.

• The cash back on the Chase Freedom Unlimited® is technically earned as Chase Ultimate Rewards® points, which can give you more flexibility (and potentially more value) when you redeem.

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

The Capital One Quicksilver Cash Rewards Credit Card isn't fancy. That's a feature, not a drawback. It doesn't pay the highest cash-back rate on the market, but few cards offer as compelling a combination of rewards rate, redemption simplicity, low fees, sign-up bonus and 0% APR period.