The Capital One Quicksilver rewards card is designed for people who want to earn unlimited cash back on every purchase but don’t want the hassle of rotating categories. This card offers a solid 1.5% back on all purchases and also comes with Visa Signature benefits. It is issued by Capital One.
New account holders can earn a $100 bonus upon approval. To be eligible for this one-time bonus, you must spend $500 on purchases within the first three months your account is active. This qualifying period begins immediately when your account is opened so the actual time may be less depending on when you receive your card. All eligible transactions must post to your account by the date specified for you to receive the $100 bonus.
New cardholders receive a 0% introductory annual percentage rate on purchases and balance transfers through the July 2016 billing period. After this time, the APR will be 12.9%, 17.9% or 22.9% (variable based the Prime Rate). Your specific APR will be determined at the time of approval and depends on your creditworthiness at the time. Balance transfers incur a fee of 3% of the total amount of the transfer. This fee is not waived during the introductory period.
A Quicksilver card gives holders a simple way to earn cash back rewards. Every purchase made on the card, anywhere and at any time, earns 1.5% cash back. You don’t have to sign up to receive these rewards and there are no changing categories to keep track of. Your cash back rewards can be redeemed for any amount whenever you wish. Rewards never expire as long as your account remains open and in good standing.
Cardholders can redeem cash back rewards as a statement credit, check, or gifts cards.
Capital One Quicksilver is a Visa Signature card. Card members enjoy these additional benefits:
- Travel upgrades and savings
- Complimentary concierge service
- Special access to events
- Extended warranty
- 24-hour travel assistance services
- Shopping discounts
Card members are not charged a foreign transaction fee with this card.
There is no annual fee for the Capital One Quicksilver.
The Facts
Below we’ve broken down the specific details of the Capital One Quicksilver card to help when determining if it’s the right card for you.
The Good:
New member bonus:
New card members can receive a one-time $100 bonus upon approval. To be eligible, you must make at least $500 in purchases on the card within the first three months that your account is open. This time period begins immediately when you are approved. All transactions must post to your account by the specified date. Pending transactions, balance transfers, credits, and returns do not count towards the $500 spending threshold. Current and previous cardholders are not eligible for this bonus offer.
0% introductory APR:
New account holders currently receive a 0% introductory annual percentage rate on both purchases and balance transfers which is good through the July 2016 billing statement. Balance transfers are subject to a 3% fee based on the total amount of each transfer. This fee is not waived during the introductory period. After this time, your APR will be a variable 12.9%, 17.9%, or 22.9% depending on your credit score and payment history at the time of approval.
Easy to earn rewards:
Capital One Quicksilver keeps it simple. Cardholders earn 1.5% cash back rewards on every purchase, anywhere, all the time. There are no rotating categories to keep up with and you don’t have to sign up to receive the cash back rewards. And there are no caps on the amount of rewards you can earn. As long as your account is active and in good standing, your rewards never expire.
Easy to redeem rewards:
Cash back rewards can be redeemed as a statement credit or check. Card members can set up an automatic redemption preference which can include:
- At a certain time in each calendar year
- When a specific threshold is reached ($25, $50, or $100, for example)
Cash back rewards can also be redeemed as credits for previous purchases or gift cards.
Visa Signature benefits:
Capital One Quicksilver is a Visa Signature card and delivers these additional benefits to cardholders:
- Travel upgrades and savings- Get complimentary upgrades (when available) and special savings at resorts, hotels and spas.
- Complimentary concierge service- Enjoy 24/7 assistance making restaurant reservations or finding the perfect gift (both from home or while traveling).
- Special access to events- Receive special access and preferred seating to popular entertainment events such as concerts, Broadway theaters, and sporting matches.
- Extended warranty- Get additional warranty protection at no cost to you for items that are purchased with the card (restrictions and exclusions apply).
- 24-hour travel assistance services- If your card is lost or stolen, get an emergency replacement card and a cash advance.
- Shopping discounts- Take advantage of special discount offers at retailers and online merchants.
No foreign transaction fees:
Card members are not charged a foreign transaction fee with this card.
No annual fee:
There is no annual fee associated with this card.
The Bad:
Not everyone will qualify:
The Capital One Quicksilver card generally requires excellent credit (750+ FICO score). People who apply and are approved for a credit line of less than $5000 will receive a Visa Platinum Card. Some benefits which come with the Visa Signature card are not available with the Platinum card.
The Ugly:
Weak rewards:
While the Capital One Quicksilver card has an uncomplicated cash back rewards program, the 1.5% cash back on purchases it delivers to cardholders makes it fairly weak when compared to other rewards cards. For people who routinely spend $1,000 or more on their credit card each month, the Capital One Venture Rewards card gives double the rewards (2%) on purchases (but comes with a $59 annual fee). Additionally, this card offers no travel rewards so it is not a good choice for people who want to earn airline miles or hotel points.