Capital One Quicksilver Cash Rewards review: A simple way to earn cash back
Editor's Note
Capital One Quicksilver Cash Rewards Credit Card overview
The Capital One Quicksilver Cash Rewards Credit Card allows you to keep things simple and watch your rewards grow over time with an unlimited 1.5% cash back rewards rate. However, you'll get better earning rates with some other cash-back cards. Card Rating*: ⭐⭐⭐½
*Card rating is based on the opinion of TPG's editors and is not influenced by the card issuer.
The Capital One Quicksilver Cash Rewards Credit Card may slightly outpace the perks of other cash back cards with its respectable perks and no annual fee, but it does have a few drawbacks worth considering. TPG recommends applicants have a good credit rating of 670 or higher when applying.
The Quicksilver's simple earning structure may be appealing, but what makes it even more so is the ability to transfer your rewards to Capital One's transfer partners if you also hold a card that earns Capital One miles.
Let's dive into the card details.
Related: The best Capital One cards
Capital One Quicksilver pros and cons
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Capital One Quicksilver welcome offer
New Capital One Quicksilver cardholders can earn a $200 cash bonus after spending $500 on purchases within the first three months of account opening. This is the best offer we've seen on this card.
This is a typical welcome offer for cash-back cards with no annual fee, and it has the advantage of a low spending requirement that most people should be able to meet without too much effort.
But compared to the best travel credit cards, which can offer welcome bonuses worth thousands of dollars, this $200 is just some extra cash in your pocket.
Related: Cards currently offering welcome bonuses of 100,000 points or more
Capital One Quicksilver benefits
The Capital One Quicksilver isn't the card to get if you want perks such as lounge access or travel credits, which are often included with premium credit cards.
However, the Quicksilver does include some benefits, such as charging no foreign transaction fees. This is a perk that, while now nearly universal on credit cards with annual fees, is rarer for no-annual-fee cards.
Other benefits include:
- Concierge service
- Extended warranty protection
- Travel accident insurance
- Access to Capital One Travel
This is a short but decent list of benefits for a no-annual-fee card.
Related: The best credit cards for extended warranties
Earning cash back on the Capital One Quicksilver
The Capital One Quicksilver earns an unlimited 5% cash back on hotels and rental cars booked through Capital One Travel and a flat 1.5% back on all other purchases.
Earning the same amount on all purchases is fine if you don't have one high-spending category. However, if you make many monthly purchases in one particular category — such as dining or groceries — you'll likely want to consider a card that earns a bonus in that category.
Related: The best credit cards for each bonus category
Redeeming cash back on the Capital One Quicksilver
You can redeem your rewards on the Capital One Quicksilver for a statement credit, check or gift card. You can also use your rewards at Amazon.com checkout and through PayPal.
There's no minimum redemption amount — just sign in to your account via the app or your computer and simply select your preference.
TPG credit cards editor Emily Thompson appreciates the versatility of cash-back rewards. Even though they can be less valuable than her favorite transferable rewards, she uses cash-back to cover things that points and miles don't, like airport snacks and activities.
However, you aren't limited to these redemption options if you have the right card pairing. If you also hold a card that earns Capital One miles, such as the Capital One Venture Rewards Credit Card, you can convert your cash-back to travel rewards at a rate of 1 Capital One mile per 1 cent of cash back. Then, you can transfer them to any of Capital One's 15-plus hotel and airline partners.
Related: Better together: The ultimate guide to the best credit card combinations
Which cards compete with the Capital One Quicksilver?
The Capital One Quicksilver is a solid no annual fee cash back credit card. However, there are better choices for those looking for higher earning rates and more benefits.
- If you have a limited credit history: The Capital One QuicksilverOne Cash Rewards Credit Card also earns 1.5% cash back on all purchases and comes with a $39 annual fee. Beyond that, the perks are very similar. To learn more, see our full review of the Capital One QuicksilverOne.
- If you want higher earning potential: The Citi Double Cash® Card (see rates and fees) earns 2% cash back on all purchases (1% when you buy and 1% as you pay) and has no annual fee. To learn more, see our full review of the Citi Double Cash.
- If you prefer Chase: The Chase Freedom Unlimited® also has no annual fee, earns 1.5% cash back on most purchases and allows you to transfer your rewards to travel partners with the right card pairing. Plus, it earns 5% cash back on travel booked through Chase Travel℠ and 3% back at drugstores and dining. To learn more, see our full review of the Chase Freedom Unlimited.
For additional options, check out our full list of the best cash-back cards and no-annual-fee credit cards.
Related: How to choose a cash-back credit card
Is the Capital One Quicksilver worth it?
The Capital One Quicksilver is a good fit for people who use one card for everything because it has a simple, flat 1.5% cash back earning rate. If you don't spend much of your budget in typical bonus spending categories or prefer not to juggle cards when you're out and about, the card is worth it. However, those who want to earn more in bonus categories will likely want to go with a different card.
Bottom line
The Capital One Quicksilver offers a decent cash back earning rate, a solid welcome bonus and decent benefits for a no-annual-fee card. However, other cash back cards offer more generous earnings, so it may not be the best fit for your spending habits.
Learn more: Quicksilver Cash Rewards
For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.