Review: Capital One Quicksilver Cash Rewards Visa Card

One of the credit card rewards trends in recent years has been the rotating category trend.

However, most cards with rotating categories require you to sign up for the extra rewards each quarter.  If you are slow to sign up, it means that you might not earn all of the rewards that you have the potential for.  And of course if you forget to sign up you get none of the extra rewards.

The Capital One Quicksilver Cash Rewards Credit Card offers something a little different.

Instead of having rotating categories that you have sign up for each quarter to get 5% cash back on a few of your purchases (everything else is usually 1%), Quicksilver offers you 1.5% cash back all the time.

Benefits of the Capital One Quicksilver Cash Rewards Visa

This credit card is a decent rewards card for those who want a straightforward, no hassle rewards program.  Rather than having to remember to sign up for rewards each quarter, and then trying to keep up with categories will earn you the extra cash back rewards, you just receive 1.5% on every purchase, every day, without having to sign up for anything.  There is no limit to the amount of cash you can earn.

Another change that the Quicksilver card is introducing to the credit cards rewards game is that you can redeem your cash back earnings anytime, and for any amount.

You can choose how you want to receive your cash back: Statement credit, check, or gift card.  It’s also possible to set up an automatic level of cash back rewards so that whenever the pre-determined amount is reached, you receive your cash back in whatever form you decide, without the need to remember to redeem your rewards.  That’s a pretty neat feature to have.

The Capital One Quicksilver Cash Rewards credit card comes with a signup bonus of $100 when you spend $500 in the first three months.  This isn’t a bad amount to have to hit for a signup bonus.

Additionally, there is an introductory APR of 0% on purchases and balance transfers until July 2014.  That makes this a nice option if you have a big purchase you might not pay off right away or if you have a balance with a higher APR you want to pay off quicker.

There is no annual fee, so you don’t have to worry about that yearly cost.

Capital One is known for the fact that it has no foreign transaction free, so this card could be a good choice if you travel overseas frequently, or make other foreign purchases.  It’s common for some cards to charge around 3% for foreign transactions.

You also won’t be charged an over-the-limit fee when you use the Quicksilver credit card.

The other fees charged by the Quicksilver Cash Rewards Visa are fairly reasonable as well.  The balance transfer fee is 3%, as is the cash advance fee ($10 minimum).  The returned payment fee is $35, as is the late payment fee.  These are pretty standard fees you see with most cards.

Visa Signature Benefits

The Capital One Quicksilver Cash Rewards credit card is a Visa Signature card, so you get access to the benefits that come with that program, including:

  • Complimentary concierge service 24/7.
  • Travel savings at various hotels and spas, as well as complimentary upgrades.
  • Special access and preferred seating at special events, including sports and concerts.
  • Discounts on shopping and retail.
  • 24-hour roadside assistance.
  • Extended warranty on purchases.
  • Auto rental insurance.
  • Travel Accident insurance.
  • $0 fraud liability for unauthorized purchases when your card is lost or stolen.

Is the Capital One Quicksilver Cash Rewards Credit Card Right for You?

The new Quicksilver card from Capital One offers a number of interesting benefits, and can be a great card for someone with excellent credit who is interested in earning straight cash rewards, without the bother of rotating categories.  You can find other cards that offer higher rewards rates but you’ll usually have to watch for rotating categories (that usually have caps on the bonus reward) or you’ll have to pay an annual fee to offset higher rewards rates.  As an overall card, 1.5% on everything is pretty good.  On top of that you’re getting an intro 0% APR rate on purchases and balance transfers which can be helpful if you’re credit savvy.

The Capital One Quicksilver Cash Rewards is a new card on the scene and it looks like a nice all-around cash rewards card.

See this card and others here.



Published or updated October 30, 2013.

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