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The Capital One® Quicksilver® Cash Rewards credit card is a no-fuss rewards card that offers 0% intro APR on purchases and balance transfers, and all-around low fees. Along with its straightforward rewards program, it boasts a $200 welcome bonus when you spend $500.
Quick Review
The Capital One® Quicksilver® Cash Rewards card is a flexible rewards card that offers 5% cash back on certain travel expenses booked through Capital One Travel and 1.5% on all other purchases, making it a good choice for people who want to earn cash while traveling and enjoy a no-fuss everyday rewards program.
The flat cashback rates make it easy to manage—you don’t have to stress about planning your spending to maximize cash back—but you trade off the ability to rack up cash back in your most-purchased categories (as rotating category rewards cards allow you to earn extra in designated categories, like dining and gas). Luckily, the welcome bonus is to earn, as you only need to spend $500 in three months to get a $200 reward.
With an intro APR of 0% for purchases and balance transfers for 15 months, this card is great for anyone who needs to consolidate credit card debt through a balance transfer, especially given the relatively low balance transfer fee of 3%.
The purchase APR of 17.99%–27.99% (variable) is nothing special, but the lack of annual and foreign transaction fees makes the card less expensive than many competitors.
Overall, the Capital One® Quicksilver® Cash Rewards card is a solid rewards card for travelers who can meet its high credit score requirements.
Capital One® Quicksilver® Cash Rewards Important Details
Basic Card Details
- Regular APR: 17.99%–27.99% (variable)
- Introductory APR: 0% for 15 months on purchases and balance transfers
- Annual fee: $0
- Credit card issuer: Capital One
Additional Information
- $200 rewards bonus if you spend $500 or more within 3 months of rewards enrollment
- Earn Capital One Travel rewards and enjoy price match on hotels, flights, and car rentals
- $0 fraud liability for unauthorized charges
- No foreign transaction fees
- Extended warranty on eligible purchases
- Travel accident insurance
- Complimentary concierge service
- Emergency card replacement and cash advance in case of card theft or loss
Capital One® Quicksilver® Cash Rewards Feature Breakdown
Fees
- Annual fee: $0
- Balance transfer fee: 3% of transfer amount during the first 15 months or other promotional APR period; no fee for balances transferred at the regular APR
- Cash advance fee: 3% of the amount you withdraw or $10 (whichever is greater)
- Foreign transaction fee: None
- Late payment fee: Up to $40
- Returned payment fee: None
This card enjoys the usual Capital One foreign transaction fee waiver, making it a great resource to take with you abroad.
Interest Rates
- Purchase APR: 17.99%–27.99% (variable)
- Introductory purchase APR: 0% for 15 months
- Balance transfer APR: 17.99%–27.99% (variable)
- Introductory balance transfer APR: 0% for 15 months
- Cash advance APR: 25.24% (variable)
Unfortunately, Capital One credit card interest rates run a bit high, so you want to take advantage of the 0% APR period if you have a balance to pay off. After the introductory period ends, you may find interest charges racking up quickly.
Rewards
The Capital One® Quicksilver® Cash Rewards card offers two tiers of cashback rewards:
- 5% cash back on hotel reservations and car rentals booked through Capital One Travel
- 1.5% cash back on all other purchases
Your rewards won’t expire while your account is open, and there’s no limit on the total rewards you can earn. Rewards can be redeemed for gift cards or cash, including at checkout when you shop at Amazon or pay using PayPal.
You can also redeem your rewards for special entertainment and dining events, including:
- Pre-sale tickets to sports and music events
- VIP packages
- Artist and athlete meet and greets
- Food festivals
- Exclusive dining events at Michelin-starred restaurants
Additionally, if you spend at least $500 within 3 months of enrolling in the rewards program, you will earn a $200 “spend bonus,” applied to your rewards balance.
Capital One Travel
With the Capital One® Quicksilver® Cash Rewards card, you can book hotels, car rentals, and flights through Capital One Travel, though you’ll only get 5% cash back on the first two categories.
You can also link your airline loyalty program to your flight reservations when booking to earn loyalty points, which somewhat makes up for the lack of cash back on flights.
If you find a better price for whatever you’ve booked within 24 hours of booking (flights included), Capital One will refund you the difference.
Other Benefits
The Capital One® Quicksilver® Cash Rewards also offers the following benefits:
- $0 fraud liability
- Extended warranty protection on eligible items
- Travel accident insurance
- Complimentary concierge service
- Emergency replacement card and a cash advance if your card is lost or stolen while traveling
Capital One also offers the following services which, while not exclusive to Capital One cardholders, are still noteworthy perks:
- Capital One Shopping, a Firefox browser extension that searches for coupon codes to apply to your purchases at checkout
- CreditWise, a credit tool that provides free VantageScore® 3.0 checks for your TransUnion credit report and notifies you about changes to your TransUnion and Experian credit reports, among other features
Note that when you check your credit with CreditWise, it will conduct a type of credit check called a soft inquiry. This won’t have an impact on your credit score the way a hard inquiry will.
Cash Advances
The Capital One® Quicksilver® Cash Rewards card allows you to make cash advances. They come with a variable 25.24% APR, as well as a fee of $10 or 3% of the advance amount (whichever is greater).
Balance Transfers
The Capital One® Quicksilver® Cash Rewards card is particularly useful for balance transfers. It offers an intro APR of 0% for 15 months on balances transferred within that same period. This is a fairly long 0% APR period.
However, during this intro period, you’ll need to pay a fee of $10 or 3% of the balance transferred (whichever is greater). You won’t need to pay a fee for any balances transferred after the intro APR expires. This fee also applies to any future promotional APR you may be offered with this card.
Perhaps most notably, you have the entire introductory APR period to initiate your balance transfer. Most balance transfer credit cards only let you set up the transfer within 60–120 days of opening a 0% APR credit card.
Credit Reporting
Capital One reports to all three main credit bureaus: Equifax, Experian, and TransUnion. Reporting is an important factor in maintaining your good credit score, as this information provides the basis of your credit report, so this is a significant plus.
Application & Approval
The Capital One® Quicksilver® Cash Rewards card requires “excellent” credit, which is a range that varies depending on which scoring model is used. For VantageScore, “excellent” scores range from 781-850. For FICO, scores between 800-850 are considered “exceptional.”
Applications can be done online and by phone or mail. Capital One claims you can receive a response in as little as 60 seconds with the first two options; otherwise, expect a response within 7-10 days of applying. If you need to check on the status of your application for whatever reason, you can call Capital One by dialing (800) 903-9177.
When you apply, you’ll be asked to provide some personal information, including:
- Social Security number
- Physical address (No P.O. boxes or correctional institutions)
- Estimated gross annual income
- Checking and/or savings account information
Once approved, Capital One’s credit limit decisions are made based on your application and your ability to pay. Regarding annual income, your monthly income must exceed your rent or mortgage payments by at least $425.
Should You Get the Capital One® Quicksilver® Cash Rewards?
FinanceJar verdict
The Capital One® Quicksilver® Cash Rewards is a good balance transfer card that continues to be lucrative even after the introductory 0% APR period expires.
Many balance transfer credit cards offer limited to no perks outside of the no-interest promotional period, but as the Capital One® Quicksilver® Cash Rewards gives decent cash rewards and travel perks, it’s a great everyday credit card to have on hand even after you’ve used it to consolidate your credit card debt.
However, if you don’t have excellent credit or prefer higher cashback rewards based on category spending, you’re better off shopping around.
Who is this card for?
- Frequent travelers: Though the cash back rewards don’t apply to flights, travelers will still find value in the 5% they get on hotels and car rentals, and the 1.5% on all other purchases certainly doesn’t hurt. Creative globetrotters can also find plenty of opportunities to redeem their rewards for all kinds of dining and entertainment events. The Capital One® Quicksilver® Cash Rewards is a Visa card, which means it’s widely accepted globally, and it doesn’t charge foreign transaction fees to boot.
- People making a large purchase: The 0% intro purchase APR for 15 months is useful for anyone taking on a large balance, like buying new furniture or paying moving expenses. Once the intro APR wears off, you’re left with a solid rewards card that’s worth keeping long-term.
- People transferring a balance: Not only do you get 0% intro APR on balances transferred within your first 15 months, but you also have the full 15 months to make balance transfers. Though you’ll have to pay a fee, you won’t need to rush to get your transfers out of the way, and you’ll have months to spare to pay off your balance before interest kicks in.
Comparable Cards
To help you decide whether the Capital One® Quicksilver® Cash Rewards is right for you, here’s a look at how it stacks up against other travel rewards cards.
Capital One® Quicksilver® Cash Rewards vs. Other Capital One® Quicksilver® Rewards Cards
Capital One offers two other Quicksilver® cards, both designed for people with lower credit scores than those who can apply for the Capital One® Quicksilver® Cash Rewards:
- Capital One® Quicksilver® Cash Rewards for Good Credit
- Capital One® Quicksilver® Secured Rewards
Both of these cards offer 1.5% cash back on all purchases, no annual or foreign transaction fees, and many of the same miscellaneous perks as the Capital One® Quicksilver® Cash Rewards card. In turn, they have slightly higher purchase and balance transfer APR.
The most notable difference is that both Capital One® Quicksilver® Cash Rewards cards offer 5% cash back on travel expenses but the Capital One® Quicksilver® Secured Rewards does not.
The Capital One® Quicksilver® Secured Rewards also requires a security deposit and offers the fewest benefits, but after six months your account will be automatically reviewed for an upgrade to an unsecured Quicksilver® card.
If you have a fair-to-good credit score, either of these cards makes for a good alternative to the Capital One® Quicksilver® Cash Rewards card if you’re unable to qualify.
Capital One® Quicksilver® Cash Rewards vs. Chase Freedom Unlimited®
The Chase Freedom Unlimited® is a no-annual-fee card that offers 0% intro APR for the first 15 months for purchases and balance transfers, and 18.74%–27.49% (variable) APR for both once the intro offer expires.
This card offers extensive rewards with 5% cash back on travel booked through Chase Ultimate Rewards, 3% on restaurants and takeout/delivery, 3% on drugstores, and 1.5% on all other purchases. Chase also provides liability and fraud protection, reimbursement if your trip is canceled or interrupted by covered hazards, and auto rental collision insurance.
Another interesting perk is the ability to divide purchases into smaller payments with a My Chase Plan®. However, this card’s punishing 29.99% penalty APR plus the $40 late payment fees are something to beware of in the event you’re unable to make payments.
If you want categorical cash back rewards and have confidence you’ll never miss a payment, the Chase Freedom Unlimited® is worth considering over the Capital One® Quicksilver® Cash Rewards card.
Capital One® Quicksilver® Cash Rewards vs. Bank of America® Travel Rewards Credit Card
The Bank of America® Travel Rewards credit card is frequently compared to the cards above, and offers many of the same benefits and drawbacks:
- No annual fee or foreign transaction fees
- 0% purchase APR for the first 15 months (does not apply to balance transfers)
- Slightly lower standard APR of 16.99%–26.99% (variable)
- 29.99% penalty APR and $40 late fee
Similar to the Capital One® Quicksilver® Cash Rewards card, you earn 1.5% cash back, your points won’t expire, and you can redeem your points to pay for travel and dining expenses among other things.
The Bank of America® Travel Rewards credit card offers a slightly better enrollment bonus if you apply online: 25,000 online bonus points (equal to $250) when you open your account. You can also earn extra points if you are a Preferred Rewards member, but that comes with special qualifications.
Other fairly standard perks like $0 fraud liability, free FICO Score checks, and overdraft protection aren’t enough to make up for this card’s fees and penalty APR. Unless you qualify for Bank of America Preferred Rewards, this card falls short of the competition.
Capital One® Quicksilver® Cash Rewards vs. U.S. Bank FlexPerks® Gold American Express® Card
The U.S. Bank FlexPerks® Gold American Express® Card has no penalty APR or foreign transaction fee, but also has no intro 0% APR period and features an $85 annual fee. The 18.24%–28.24% (variable) APR on purchases and balance transfers is also nothing to write home about.
When it comes to rewards, you earn 1 FlexPoint per qualifying dollar spent and additional points in the following categories:
- 5x the points on prepaid hotels and rental cars
- 3x the points on dining, including takeout and delivery
- 2x the points on airline reservations and at gas stations and EV charging stations
You can redeem these points for cash, travel events, certain goods like electronics, or even use them to pay your annual fee. You can also get a bonus of 30,000 FlexPoints (equivalent to $450) if you spend $2,000 on eligible purchases within your first four months. However, unless you reliably spend $500/month in any of the above categories, you may find that difficult to reach.
Overall, the U.S. Bank FlexPerks® Gold American Express® Card is best for people who spend a lot of their time traveling, prefer categorical cash back, and can spare the yearly fee. However, if you can benefit from 0% APR, the Capital One® Quicksilver® Cash Rewards is the way to go.
