The Capital One Quicksilver rewards credit card is a great choice for those looking for a simple and easy to understand rewards and payment program. It’s a no-frills credit card that won’t nickel-and-dime you to death with unnecessary fees and hidden expenses.
The Quicksilver rewards card can be a little disappointing for those looking for special offers and reward programs with particular retailers or industries, however. If you’re looking for special deals with your favorite brands, the Capital One Quicksilver may not be the best credit card for your needs.
Let’s break down the Capital One Quicksilver to help you decide if it’s the right credit card for you!
Capital One Quicksilver Rewards Card: An Overview
Let’s begin by looking at the basics of the Quicksilver rewards card. Then we’ll examine some of the pros and cons to help you weigh your decision about which credit card is right for you.
Capital One Quicksilver: The Basics
The Quicksilver rewards card offers 1.5% cash back as a flat rate for all purchases. This can be redeemed at any time. Rewards points may be redeemed by check or by applying the payment towards your account balance.
There is no requirement for minimum balance to cash out your rewards points. The Capital One Quicksilver card also offers $0 annual fees.
The Quicksilver rewards card features one of the highest sign-up incentives on the market. New credit card users get a $150 when they spend $500 or more on their credit card in the first three months.
The Quicksilver rewards card features a 0% APR on all purchases and balance transfers for the first nine months. This increases to a rate of 14.24% – 24.24% APR after nine months. A 3% fee is incurred on all balance transfers after nine months, as well.
Capital One Quicksilver Rewards Card: The Pros
The Quicksilver rewards card is a solid choice for those looking for a dependable cash-back rewards card. Its consistent 2% return rates qualify the Quicksilver rewards card to be one of U.S. News’ Best Cash Back Credit Cards Of 2018.
Here are some of the main benefits of using the Capital One Quicksilver rewards card.
Simple Rewards Plan
The Quicksilver rewards card is elegant in its simplicity. It offers a cut-and-dry rewards structure for all purchases and payments. The Quicksilver rewards card removes the headache of having to keep track of hundreds of individualized rewards rates.
This prevents the need to have multiple credit cards. The Quicksilver rewards card is one of the best options for those looking for an all-in-one credit card for all of your general needs.
Easy To Qualify For
This Capital One rewards card is designed for people with average to below-average credit. A credit score of 690 or above is all that’s necessary to qualify for this Capital One rewards card.
This makes the Quicksilver rewards card a fine choice for those looking to build their credit while still accumulating cash back rewards.
Excellent Sign-Up Bonus
The Quicksilver rewards card has one of the most generous sign-up bonuses on the market. Credit card holders qualify for a $150 cash back bonus after spending $500 in the first three months.
The low qualification rate means credit card holders won’t feel the need to spend more than their budget allows to get the bonus.
Low Fees
The Quicksilver is great for those who don’t want to spend more money than necessary on operating fees. Its 0% APR and lack of fees for international transactions are reason enough to investigate this solid cash back rewards card.
The 3% transfer fee on balance transfers could be a drawback for those looking to consolidate their debt using the Quicksilver rewards card. Keep that in mind when selecting the cash back rewards card that will meet your needs.
Capital One Quicksilver Rewards Card: The Cons
This particular card has a lot of strengths, but it’s not for everybody. Here are a few of the drawbacks.
No Additional Rewards Points
The Quicksilver’s flat-rate rewards program is one of the best things it’s got going for it. It can also be a bit of a drawback for those looking to earn additional rewards points.
There are lots of credit cards out there offering bonus points for specific industries. If you’re planning on saving for a particular purchase like a vacation, another credit card might be your best bet. Credit cards offering specialized bonuses have been trending since at least 2005, so there’s a lot to choose from.
Low Rates Expire
You’d think that companies would want to thank their long-time loyal customers. Instead, longtime users of the Quicksilver rewards card are penalized as the introductory offers expire.
The 0% APR vanishes after nine months. Then it’s replaced by a variable interest rate ranging between 14.24% and 24.24%. This is true for balance transfers, as well.
If you’re simply looking to save money, there may be better credit cards with lower rates. If you’re looking for an all-inclusive rewards card that’s easy to use and understand, the Quicksilver is still a fine choice.
Capital One Quicksilver Rewards Card: The Verdict
The Quicksilver is an attractive option for a rewards card for a number of reasons. The $150 cash back bonus in the first three months is a generous offer. The ease of use and comprehension makes it one of the best Swiss Army credit cards you can have in your wallet, as well.
The Quicksilver rewards card starts out as a money-saving measure. This diminishes as time goes on. Those simply looking for a low-interest rate might do well to keep looking. If you are looking for a simple, easy-to-use credit card for your daily life the Quicksilver rewards card is a great option.
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