Review: If you want to earn cash back on everything you buy, it doesn't get much easier than the Capital One Quicksilver card
Alyssa Powell/Business Insider
- The Capital One® Quicksilver® Cash Rewards Credit Card earns 1.5% cash back on everything you buy.
- Also note that you'll earn a $150 cash bonus when you spend $500 on your card within three months of account opening.
- There are many other cash-back credit cards that offer their own unique rewards structures, so make sure to compare all your options before you decide.
- See Business Insider's list of the best cash-back credit cards.
There are a ton of travel rewards credit cards and cash-back credit cards on the market today, but while options are a good thing, having a dizzying number of cards to choose from can be downright confusing. That's not to mention how complex some credit card earning structures and rewards programs can be.
Not everyone wants to keep track of rotating bonus categories or earning caps, after all. Plus, some consumers don't really want to travel, or to have to deal with complex hotel and airline loyalty programs.
That's why the Capital One Quicksilver Cash Rewards Credit Card is so popular. With this cash-back card, you earn a flat rate of unlimited rewards on everything you buy, and you can redeem them to cover any purchase you want.
Keep in mind that we're focusing on the rewards and perks that make these credit cards great options, not things like interest rates and late fees, which will far outweigh the value of any points or miles. It's important to practice financial discipline when using credit cards by paying your balances in full each month, making payments on time, and only spending what you can afford to pay back.
Capital One Quicksilver Cash Rewards card details
- Earn an unlimited 1.5% cash back on every purchase you make
- Qualify for a $150 cash bonus when you spend $500 on your card within three months of account opening
- 0% APR on purchases and balance transfers for 15 months, followed by a variable APR of 15.49% to 25.49%
- No foreign transaction fees
- No annual fee
- Redeem rewards for statement credits, cash back, or gift cards
Capital One Quicksilver card earning rate
While some cards offer tiered earning categories or special bonus categories that change throughout the year, the Capital One Quicksilver card keeps things as simple as possible. You'll earn a flat 1.5% back on everything you buy, so you'll never have to wonder if you're maximizing your rewards or getting close to cap on earnings.
Earning 1.5% back puts this card above many other traditional rewards credit cards that only offer 1% back on regular purchases. The big exception is the Citi® Double Cash Card, since it offers 2% back - 1% when you make a purchase and another 1% when you pay it off.
Capital One Quicksilver card redemption options
If you're looking for a card that lets you redeem rewards in the most simple ways possible, definitely consider the Capital One Quicksilver. After you earn a flat 1.5% back on everything you buy, you can cash in your rewards for a check in the mail or a statement credit to cover any purchase made to your credit card up to your rewards balance.
You can also redeem your rewards for gift cards if you want, and your rewards will never expire as long as your account is open.
Capital One Quicksilver cardholder benefits
One of the biggest benefits of the Capital One Quicksilver card is the fact you get 15 months with 0% APR on purchases and balance transfers. (After that, there's a variable rate of 15.49% to 25.49%.) This makes it easy to consolidate high-interest debt at 0%, or to make a big purchase and pay it down over time without interest. Just remember that a 3% fee applies to balance transfers, which is pretty standard.
Beyond the interest rate, this card is fairly light on fees. You won't pay foreign transaction fees on purchases made abroad, and this card doesn't have an annual fee.
A 3% fee (minimum $10) will apply if you use your credit card for a cash advance, however, and you'll pay a fee of up to $39 when your credit card bill is paid late.
Read more: The best credit card intro APR offers
Other cardholder perks include extended warranties on eligible items that come with a manufacturer's warranty, travel accident insurance, 24-hour travel assistance services, and complimentary concierge services. You can also lean on your card's benefits to access premier culinary events, must-see music events, and VIP sports events.
How the Capital One Quicksilver card compares
If you're on the fence about this card and considering other options, you should see how several different cash-back credit cards stack up in terms of benefits and rewards. The chart below highlights some of the top cards in this space:
Alyssa Powell/Business Insider
While all three of the cards above let you earn cash back on all your purchases, they each have their pros and cons. For example, the Citi Double Cash Card lets you earn 2% back, the second half coming in when you pay each purchase off. However, there's no initial sign-up bonus, so it will take longer to rack up meaningful rewards.
The Chase Freedom, on the other hand, lets you earn 5% back in categories that change each quarter when you activate, but with a limit of $1,500 in spending each quarter. Dealing with rotating categories isn't for everyone, and the limit on bonus categories is pretty low. Beyond these disappointing factors, you also have to "opt in" to receive the bonus rewards every quarter.
At the end of the day, it really pays to compare cash-back credit cards and their rewards programs to find the right one for you. You may find you really do want to earn a flat rate of rewards, but it's also possible you'd like a card that offers even more points in bonus categories. Make sure to check out all the cash-back credit cards available today before you decide.
Should you pick up more than one rewards card?
If you're struggling to decide between cards that offer varying rewards structures, you ould consider picking up more than one rewards credit card in order to maximize your rewards haul. You could apply for the Capital One Quicksilver card in order to earn 1.5% back on all regular purchases, for example, but you could also pair it with a card that offers bonus categories that stay the same or change throughout the year.
If you also picked up the Chase Freedom, for example, you could use it to max out each quarter's 5% category, then switch to your Capital One Quicksilver card to earn 1.5% back on everything else you buy. That would be a lucrative option since the Chase Freedom only offers a flat 1% back on non-bonus purchases. Plus, neither of these cards charges an annual fee.
The bottom line
The Capital One Quicksilver Cash Rewards card keeps things simple with a flat rewards rate and a handful of easy redemption options, which makes it a popular option with no-fuss consumers. Make sure to compare other top cash-back cards to see how they stack up before you pull the trigger.
Disclosure: This post is brought to you by the Personal Finance Insider team. We occasionally highlight financial products and services that can help you make smarter decisions with your money. We do not give investment advice or encourage you to adopt a certain investment strategy. If you take action based on one of our recommendations, we get a small share of the revenue from our commerce partners. This does not influence whether we feature a financial product or service. We operate independently from our advertising sales team.
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Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.
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