Is the Capital One Quicksilver Rewards credit card worth it?

Quicksilver® from Capital One® review – September 2018

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A classic rewards card offering unlimited cash back on purchases with no annual fee.

finder.com’s rating: 4.2 / 5.0

★★★★★

30-second take

  • Get this card if you’re looking for a cashback card that comes with no annual fees.
  • Pick something else if you’re looking for a higher cash back on specific categories.
  • Apply with a good to excellent credit score of 690 or higher.
Product NameQuicksilver® from Capital One®
Card TypeVisa
Annual Fee$0
APR (Annual Percentage Rate) for Purchases14.74%, 20.74% or 24.74% variable
Introductory Purchase APR0% for the first 15 months (then 14.74%, 20.74% or 24.74% variable)
Introductory Balance Transfer APR 0% for the first 15 months (then 14.74%, 20.74% or 24.74% variable)
Balance Transfer Fee3%
Cash Advance Rate24.74% variable
Cash Advance Fee$10 or 3% of the cash advance amount, whichever is greater
Foreign Transaction FeeNone
Interest Free PeriodUp to 25 days
Minimum Interest$0
Late Payment Fee$38
Additional Cardholder Fee$0
Minimum Age18 years of age
Welcome BonusEarn 150 cash back after spending $500 in the first 3 months
Reward Value per Dollar1.5% cash back
Rewards Points ExpiryNever

The Basics

The Quicksilver® from Capital One® is a cashback card with a flat reward rate on all purchases and with no annual fee. In addition, you get an easy-to-earn signup bonus and a long intro APR period for balance transfers and purchases.

Why are there two types of Quicksilver® visa cards?

  • If you’re approved for a credit line higher than $5,000 — you’ll get a Visa Signature®.
  • If your approved credit line is lower than $5,000 — you’ll get a Visa Platinum.

The perks

  • Signup bonus.

    Earn a $150 bonus after spending $500 in the first 3 months after account opening. This is an easy bonus to get compared to other cards.

  • Cash back.

    Get unlimited 1.5% cash back on all purchases. You can also redeem your cash back as a statement credit towards previous purchases, gift cards and more.

  • Intro APR period.

    Get a 0% intro APR period on balance transfers and purchases for 15 months following your account opening. After that, a variable APR of 14.74%, 20.74% or 24.74% applies. This could be useful if you want to transfer your balance from another account with a high APR.

Compare the Platinum Credit Card from Capital One® and Quicksilver® from Capital One®

You’ll also like …

  • No annual fee.

    You don’t need to pay anything to own the card.

  • No foreign transaction fees.

    Use your card freely when you travel and you won’t incur any fees. Other cards have up to 3% foreign transaction fees.

  • Fraud liability protection.

    Get $0 fraud liability if your card is lost or stolen.

  • Travel and car rental insurance.

    You’re insured against accidental death and dismemberment and your rental car is covered against theft or damage when you pay the entire car rental with your card.

What to watch out for

  • Credit line.

    Your credit line is determined by Capital One based on multiple factors. But the minimum credit line you can receive is $1,000.

  • Don’t pay late.

    You’ll pay fees up to $38 for late payments. On the positive side, there’s no penalty APR. Other cards have a penalty APR of up to 30% if you make a single late payment.

Consider other cards if …

  • You want higher cash back on specific categories.

    If you mostly spend on categories such as groceries, dining or gas, you may get the most out of a credit card with higher cash back for these categories. The Blue Cash Everyday® Card from American Express, the Chase Freedom® credit card or the Discover it® Cash Back could all be a better choice.

  • You want a similar card from another bank.

    Consider the PenFed Power Cash Rewards Visa Signature® Card where you earn a flat 1.5% cash back on all purchases — 2% if you’re PenFed Honors Advantage member. Also, the Cash Magnet™ Card from American Express or the Chase Freedom Unlimited® credit card have 1.5% cash back on all purchases.

  • You want a card with a lower APR.

    If you want a card with a minimal APR, consider the Barclaycard Ring™ Mastercard® where you get a variable APR of 13.74% for balance transfers, purchases and cash advances. Or you may consider the PenFed Gold Visa® Card, where you get a variable APR of 8.99% to 17.99%, based on your creditworthiness.

Compare cashback credit cards

Name Product Annual Fee APR for Purchases (Purchase Rate) Intro APR for Balance Transfer
$0
14.74%, 18.74% or 24.74% variable
0% for the first 15 months (then 14.74%, 18.74% or 24.74% variable)
Earn unlimited 1.5% cash rewards on purchases. See Rates and Fees
$0 to $99
19.74% to 25.74% variable
Get 1% cash back rewards on eligible purchase, terms apply.
$0
14.74% to 25.74% variable
0% for the first 15 months (then 14.74% to 25.74% variable)
Snag a $150 bonus statement credit after you spend $1,000 in the first 3 months
$95
14.74% to 25.74% variable
0% for the first 12 months (then 14.74% to 25.74% variable)
Earn $200 bonus cash back after you spend $1,000 in the first 3 months
$0
15.24% to 25.24% variable
0% for the first 18 months (then 15.24% to 25.24% variable)
Earn 1% cash back for payments on purchases, on top of the 1% cash back on purchases. No annual fee.
$0
14.99% to 24.99% variable
0% for the first 12 statement closing dates (then 14.99% to 24.99% variable)
Earn more cash back for the things you buy most.
16.74%, 22.49% or 25.49% variable
Get 4 points back on dining, 3 on travel, 2 on Uber rides and online shopping and 1 on other purchases, and redeem points for Uber credits, gift cards or cash back.

Compare up to 4 providers

How does a balance transfer work with this card?

You get a promotional 0% intro APR period for balance transfers for 15 months following your account opening. After that, a variable APR of 14.74%, 20.74% or 24.74% applies.

If you make balance transfers during the promotional period, you’ll pay a 3% fee for each transfer. This means a $1,000 balance transfer costs $30 in fees. For transfers made after your intro period, you’ll pay no fees.

You can request balance transfers 10 days after you open your account, but know that not all accounts are eligible for balance transfers. Also, Capital One doesn’t permit balance transfers between Capital One accounts.

What to know before you apply

To apply for this card, you must be at least 18 years old and a US resident.

You also need to provide personal details, such as:

  • Full name and contact information.
  • Social Security number and date of birth.
  • Employment and financial information.

What credit score do I need?

To increase your chances of approval, get a lower APR and a higher credit line, apply with a good to excellent credit score of 690 or higher. Capital One also takes into account factors that affect your credit score, such as credit utilization and history.

What do customers say about the Quicksilver® from Capital One®?

Most customer complaints revolve around their credit limit. Some claim that they received a low credit line and never got an increase despite paying on time. Others claim that Capital One lowered their credit line without any reason or explanation.

However, this was not the case with all customers. Others are happy with the card, the credit line they got and love the unlimited cash back.

The Better Business Bureau accredited Capital One in 1995 and rates it with an A+. Based on this rating and 162 customer reviews, at the time of writing, Capital One got a composite score of 3.78 out of 5.

How to apply for the Quicksilver® from Capital One®

  1. Go to Capital One’s site and select the Quicksilver® from Capital One® from the list of cash back cards, then click Apply now.
  2. Complete the online application with your details.
  3. Review your application and submit it.

How long will it take to get my Quicksilver® from Capital One®?

If you apply by phone or online, you’ll typically get a response in less than a minute. In some cases, Capital One requires additional information to make a decision. You’ll be notified in writing in 7 to 10 days of your application.

Once approved, you’ll receive your Capital One card, credit limit information and welcome materials by mail in 7 to 10 business days.

I got the card, now what?

  • Download Capital One® Mobile app. And pay bills or send money to friends and family. You can also monitor your card activity and you can redeem rewards through the app.
  • Pay on time. Your due date is a minimum of 25 days after the close of each billing cycle. Try to make your payments by then to avoid paying late fees.
  • Customer service. For any questions, call 800-227-4825 and Capital One’s customer service will help you out.

Bottom line

If you’re looking for a hassle-free rewards credit card without an annual fee, the Quicksilver® from Capital One® could be the right card for you.

It’s not the only card on the market though, check out other cash back cards and find the one that meets all of your needs.

Frequently asked questions

Cashback card ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

Our team evaluates credit cards to determine their value against similar cards on the market.

We rank card types — travel, cash back, business — on a set of factors that are most relevant to that type of card. We create these rankings to help you narrow down a credit card that best suits your spending and budget.

Learn the details of our methodology and scoring.

Kevin Joey Chen

Kevin Chen is a world-travelin', copy-writin', Game of Thrones-watchin' credit cards writer for finder.com. When he's not crunching the numbers on bonus points and comparing APRs, you can find him flying around the world in search of the perfect beer.

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