Capital One® Quicksilver® Cash Rewards Credit Card Review: Is It Worth Getting?

Capital One® Quicksilver® Cash Rewards Credit Card Review: Is It Worth Getting?

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

The Capital One® Quicksilver® Cash Rewards Credit Card is a great credit card for consumers who are looking to maximize cash back on their credit card spending. It is a hassle free and simple card that gets you the highest pure cash back rewards rate (1.5%, about 50% higher than average) with the least hoops to jump through. There's a bit of poetry to its name: quicksilver is a common name for the element Mercury, which is the only metal that is liquid at standard conditions for temperature and pressure = credit card with liquid rewards.

on_current="true" delimiter="|" Review| Cash Back Rewards & Redemptions| Capital One® Quicksilver® Cash Rewards Credit Card Comparisons

Review: Capital One® Quicksilver® Cash Rewards Credit Card is the Best Simple Cash Back Credit Card

We recommend this as an excellent option for people who want a straightforward everyday card to use that still gets them a high rewards rate. No need to plot, scheme, or keep track of special categories or quarterly sign-ups with this card. There are also no limits to cash rewards earned with the Capital One® Quicksilver® Cash Rewards Credit Card. Cash rewards show up rather quickly, and can be accessed as soon as transactions or charges are cleared on your credit card. With the Capital One® Quicksilver® Cash Rewards Credit Card, cardmembers will be trading off maximizing their rewards rate for simplicity. At a glance, here are the major pros and cons of this card from Capital One®.

Pros of the Capital One® Quicksilver® Cash Rewards Credit Card

  • The highest pure and straightforward cash back percentage among credit cards of 1.5%
  • No annual fee or FX fees to eat away at rewards
  • One-time $150 cash bonus after you spend $500 on purchases within 3 months from account opening
  • Cash posted and can be accessed instantaneously

Cons of the Capital One® Quicksilver® Cash Rewards Credit Card

  • No special categories for extra 5% bumps - both a pro and a con depending on cardholder preferences
  • For people with excellent credit
  • Travelers spending more than $11,800 are better off with Capital One® Venture® Rewards Credit Card

Is the Capital One® Quicksilver® Cash Rewards Credit Card Worth It?

Yes. It makes a great addition for both satisficers and maximizers alike. A satisficer is someone who's ok with trading convenience for not getting the absolute highest return. A maximer will pursue getting the highest return even at the cost of complexity and inconvenience. Satisficing consumers can use the Capital One® Quicksilver® Cash Rewards Credit Card for everyday hassle-free spending without monitoring quarterly promotions from their credit cards. Good for convenience and simplicity, not ideal for high-spenders who could benefit from those special categories (restaurants, certain merchants, etc.). On the other hand, maximizers can use Capital One® Quicksilver® Cash Rewards Credit Card as their primary default card in their carousel of credit cards. After they've maximized the rewards and spending limits on their special category cards, then these users can return to the Capital One® Quicksilver® Cash Rewards Credit Card as the base credit card for 1.5% rewards.

Bottom Line: No-fee, highest standard cash back percentage = excellent cash back default rewards credit card.

Capital One® Quicksilver® Cash Rewards Credit Card Benefits & Features

Early Spend Bonus & Other Promotions

The bonus is $150 in cash. There's a pretty low spending requirement to get that bonus, too - most other cards require spending in the thousands, but the Capital One® Quicksilver® Cash Rewards Credit Card raises the bar. You just have to spend $500 on purchases in the first 3 months. The only question is what you'd like to splurge that free Benjamin on.

Highest Standard Cash Back Credit Card

Before the Capital One® Quicksilver® Cash Rewards Credit Card, other credit cards offered a standard 1% cash back. The Capital One® Quicksilver® Cash Rewards Credit Card has upped the ante now to 1.5% Cash Back on every purchase, every day. This 1.5% is likely 50% higher than the rewards rate for other standard no-fee credit cards.

Redeeming Your Rewards

Capital One® Quicksilver® Cash Rewards Credit Card cardholders can use the app or web interface to redeem their rewards as a check or account credit.

Screenshot Apps Reward Redemption
Capital One Quicksilver Reward Redemption

The Capital One® Quicksilver® Cash Rewards Credit Card Rate & Redemption

Now let's talk about the rewards redemption and the return rate of this credit card. Just request an account credit, check, or gift card. Checks will take longer to process, issue, and mail, but account credits apply towards your balance more quickly. You don't need to specify what charges you want to erase (as with the Capital One® Venture® family of cards) - the Capital One® Quicksilver® Cash Rewards Credit Card is indifferent. You also get the same value applied regardless of the type of merchant or transaction. Have a special treat or splurge on Capital One®, and use those earnings on a trip to the spa, or a sleek new gadget.

Reward Redemption: The rewards show up as a dollar value that you can deploy as you wish! Cardholders can even set up automatic redemption by logging into their account. Once their cash back rewards hit a certain threshhold, Capital One® automatically applies your cash back per your instructions.

Comparisons for the Capital One® Quicksilver® Cash Rewards Credit Card

What other credit cards do consumers typically compare the Capital One® Quicksilver® Cash Rewards Credit Card to?

Capital One® Quicksilver® Cash Rewards Credit Card vs. Barclays CashForward™ World Mastercard®

Barclays CashForward™ World Mastercard®
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The Barclays CashForward™ World Mastercard® is a flat rate 1.5% cash back card, that gives a 5% bonus reward towards your next redemption, each time you redeem. That boost makes it perform better than the Capital One® Quicksilver® Cash Rewards Credit Card, as far as spending rewards are concerned. One downside of the Barclays CashForward™ World Mastercard® is the 3% foreign transaction fee. That makes the Capital One® Quicksilver® Cash Rewards Credit Card better suited for international use. Of course, since both cards come with no annual fee, there is nothing stopping you from getting both.

Capital One® Quicksilver® Cash Rewards Credit Card vs. Capital One® VentureOne® Rewards Credit Card

The Capital One® VentureOne® Rewards Credit Card's redemption rate of 1.25% is rather low. The card's early spend bonus is quite attractive for the Capital One® VentureOne® Rewards Credit Card, but for users with longer-term horizons and higher amounts of charges, the Capital One® Quicksilver® Cash Rewards Credit Card is much better.

Short-term: If your horizon is short-term, and you spend less than $40,000 in your first year, then the Capital One® VentureOne® Rewards Credit Card wins; One-time bonus of 20,000 miles once you spend $1,000 on purchases within 3 months of account opening, equal to $200 in travel That comes out to a value of $200 when used towards travel.

Long-term: If you plan on holding this card as your primary credit card for the longer run, then the extra 0.25% difference of the Capital One® Quicksilver® Cash Rewards Credit Card over the Capital One® VentureOne® Rewards Credit Card starts to kick in the first dollar after $40k.

Capital One® Quicksilver® Cash Rewards Credit Card vs. Capital One® Venture® Rewards Credit Card

The Capital One® Venture® Rewards Credit Card from Capital One® has a $95 annual fee, but on an ongoing basis, its higher earnings rate will outpace the Capital One® Quicksilver® Cash Rewards Credit Card. Below $19,000 of spending on your credit card, the Capital One® Quicksilver® Cash Rewards Credit Card will maximize your rewards because that $95 annual fee hasn't been recuperated sufficiently enough.

Inflection Point: $95 annual fee / (0.02 Venture® rewards redemption rate - 0.015 Capital One® Quicksilver® Cash Rewards Credit Card rewards redemption rate) = $19,000.

More Info

If you're bankruptcy-free, an on-time payer (or no more than 60 days late), with more than $5,000 in debt for at least three years, then you should be good. Folks report getting an approval decision as soon as they hit the submit button on the card's application website. It's quite easy to apply - one page asking for standard income, rent or mortgage, and bank and investment balances, et voila.

Joe Resendiz

Joe Resendiz is a former investment banking analyst for Goldman Sachs, where he covered public sector and infrastructure financing. During his time on Wall Street, Joe worked closely with the debt capital markets team, which allowed him to gain unique insights into the credit market. Joe is currently a research analyst who covers credit cards and the payments industry. He earned a bachelor’s degree from the University of Texas at Austin, where he majored in finance.

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How We Calculate Rewards: ValuePenguin calculates the value of rewards by estimating the dollar value of any points, miles or bonuses earned using the card less any associated annual fees. These estimates here are ValuePenguin's alone, not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

Example of how we calculate the rewards rates: When redeemed for travel through Ultimate Rewards, Chase Sapphire Preferred points are worth $0.0125 each. The card awards 2 points on travel and dining and 1 point on everything else. Therefore, we say the card has a 2.5% rewards rate on dining and travel (2 x $0.0125) and a 1.25% rewards rate on everything else (1 x $0.0125).