Whether you’re deciding on your first cash back credit card or you’re tired of owning a credit card you don’t utilize, you’ll want a reliable card without red tape. If you just want to save money without memorizing a revolving door of rotating categories, the Capital One® Quicksilver® Cash Rewards Credit Card is as straight-shooting as it gets. The unlimited 1.5% cash back on any purchase with no annual fee keeps Capital One Quicksilver in both new cardholders’ and multi-cardholders’ wallets. On top of that, the card’s 15-month 0% APR on purchases and balance transfers (15.49% - 25.49% (Variable) after that) — with a 3% balance transfer fee — gives you plenty of time to see if the Quicksilver card suits your lifestyle and spending habits. The intro bonus opportunity is also easily attainable compared to other cards we review! Keep reading to learn why the Capital One Quicksilver Cash Rewards Credit Card is the best flat-rate cash rewards card we’ve seen.

What does the Capital One Quicksilver Cash Rewards credit card offer?

Capital One Quicksilver Cash Rewards Credit Card
  • Earn a $150 cash bonus after you spend $500 on purchases within 3 months from account opening
  • Earn unlimited 1.5% cash back on all purchases
  • No rotating categories or sign-ups needed to earn cash rewards; plus, cash back won’t expire for the life of the account and there’s no cash back earning limit
  • Get a 15-month 0% intro APR on purchases (15.49% - 25.49% (Variable) after that)
  • Get a 15-month 0% intro APR on balance transfers (15.49% - 25.49% (Variable)), 3% balance transfer fee on the amounts transferred within the first 15 months
  • Pay no annual fee or foreign transaction fees

If you’re a practical consumer that likes to keep things simple, the Capital One Quicksilver Cash Rewards Credit Card’s unlimited 1.5% cash back on all purchases can’t make things easier, as you don’t have to work your budget around any bonus categories and your rewards don’t expire. Plus, you don’t have to be a big spender to get the intro bonus — just spend $500 on purchases in the first 3 months to earn $150 back!

Add to that the card’s 15-month 0% intro APR on both purchases and balance transfers, which gives you more than a year’s peace of mind with 0 interest while you test the waters. There’s a 3% balance transfer fee, but that one-time fee is no big deal when you compare it to your current credit card’s interest rate. As if that isn’t enough, Capital One Quicksilver has no annual fee and no foreign transaction fees.

Rewards redemption made easy

Redeeming your rewards couldn’t be easier. Instead of converting points or miles to cash back, you can simply choose to receive your cash back as a check in the mail or as a statement credit toward paying off your card. You can also redeem for gift cards, and set up automatic redemption preferences so your rewards redeem when you meet a specific threshold or during a set time each calendar year. We should also note that Capital One Quicksilver is available to those with good to excellent credit (usually considered a credit score of 700 or higher).

There’s a number of added perks

For those who want a card with some special added perks that make traveling a breeze, Capital One Quicksilver’s benefits are hard to beat for no annual fee. That’s because your card membership comes with:

  • Travel Accident Insurance
  • Complimentary Concierge Service
  • 24-hour Travel Assistance Services
  • $0 Fraud Liability

Does Capital One Quicksilver have any downsides?

The main drawback of the Capital One Quicksilver Cash Rewards Credit Card is due to its nature as a flat-rate card. Other types of cash back reward cards — like rotating or bonus categories cards — could potentially earn you more cash back, depending on your lifestyle. That’s because cards that earn cash back on rotating categories typically have higher rates of 3% to 5% cash back instead of Quicksilver’s 1.5% flat-rate. Some other reward programs also offer more versatile (and higher-value) points that can be used for a variety of rewards (e.g., travel, cash back or merchandise) rather than solely cash back. This means rotating category cards could give higher cash back earnings if you don’t mind sacrificing a little simplicity.

Is there an alternative to Capital One Quicksilver?

The Chase Freedom® card has an identical $150 bonus that you’ll earn after spending $500 on purchases in the first 3 months and the same 15-month 0% intro APR on purchases and balance transfers (then the rate is 16.49% - 25.24% Variable) — with an intro balance transfer fee of 3% when you transfer during the first 60 days ($5 minimum), then 5% after that ($5 minimum). However, Chase Freedom is a rotating cash back card, and you could earn 5% cash back on rotating categories every quarter you activate (up to $1,500 in combined purchases, then it’s 1% back) and unlimited 1% back on all other purchases (compared to Quicksilver’s 1.5%). Similarly to the Capital One Quicksilver Cash Rewards Credit Card, there isn’t an annual fee and your cash back rewards don’t expire, but you can’t forget to activate your bonus categories every quarter. Luckily, Chase will jog your memory with a reminder via calendar, text and/or email notification.

These bonus categories are fantastic opportunities for earnings on each quarter’s common expenses — like gas stations, grocery stores, select streaming services and department stores.

A considerable difference between the cards is that Chase Freedom offers a wider pool of redemption rewards than just your cash back. You can:

  • Receive a statement credit, or choose direct deposit over a mailed check.
  • Transfer your cash back to a variety of gift certificates or to Amazon in a 1:1 ratio ($1 reward = $1 at Amazon)
  • Transfer your cash back to other Chase cards offering Ultimate Rewards (like the Chase Sapphire Preferred® Card) to gain more value toward travel booking.

Should you apply for the Capital One Quicksilver Cash Rewards credit card?

The Capital One Quicksilver Cash Rewards Credit Card is perfect for cardholders that value simplicity over managing reward programs or bonus categories — especially if you have to travel on occasion, as the card comes with some unexpected perks. Its flat-rate cash back rewards means you’ll know you’re making the most of every purchase. Combined with its $150 intro bonus opportunity and long 0% intro APR, you can’t go wrong. Visit our Capital One Quicksilver Cash Rewards Credit Card review to learn more and apply online.

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author’s alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This content was accurate at the time of this post, but card terms and conditions may change at any time. This site may be compensated through the credit card issuer Affiliate Program.