Is Capital One Quicksilver worth it?
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The Capital One Quicksilver Cash Rewards Credit Card is a simple flat-rate cash back credit card that offers a low-maintenance way to earn cash back. It earns 1.5 percent back on all purchases and charges no annual fee, which makes it a good choice for more than one type of cardholder.
Is the Capital One Quicksilver the right option for you? Read on to learn who can benefit from this card and whether you should consider applying.
Is the Capital One Quicksilver a good credit card for you?
For the simple product that this cash back card is, Capital One Quicksilver can fit various types of cardholders with different goals. Here are four scenarios where the Quicksilver may be an excellent addition to your wallet.
You want simplicity
Some people like to have multiple cards and an intricate credit card strategy, while others don’t want to complicate things. It’s understandable: Figuring out how to earn the most rewards every time you pull out your wallet and then calculating the best way to use them can be overwhelming.
If that sounds like a struggle to you, the Capital One Quicksilver can be a good product. It’s a true no-fuss credit card. You get the same cash back rate, no matter what you buy, and you don’t have to worry about annual fees, rotating categories or choosing the right card for every purchase.
Redeeming rewards is simple, too. You don’t have to chase down the transfer partner with the highest point value or scour the internet for good travel deals – just use cash back as a statement credit to offset any purchase you wish.
You want a card to complete your credit card strategy
If you do have multiple credit cards and your goal is to maximize rewards in every possible way, a flat-rate cash back credit card is a must-have in your arsenal.
Rewards credit cards, whether it’s a bonus cash back credit card or travel card, typically offer high rewards rates only in certain categories, while the rest of purchases earns 1 percent cash back or 1 point per dollar. To ensure you earn more than that whatever you spend on, you’ll need a card like the Capital One Quicksilver.
You’re planning a large purchase
The simple rewards system and lack of annual fees aren’t the only two great things about the Quicksilver. It also comes with a lengthy zero-interest period.
When you get the card, you have 15 months of 0 percent intro APR on purchases, meaning you pay no interest if you carry a balance during your first 15 months with the card. (Note, you still have to make minimum payments, a 16.49 percent to 26.49 percent variable APR applies after that)
This can be handy if you’re looking to fund a large purchase—you’ll get enough time to pay it off and still earn cash back without any interest eating into your rewards.
You’re new to rewards credit cards
If you haven’t had a rewards credit card before, the Capital One Quicksilver can be a great starter cash back card. It can get you into the habit of paying with your credit card as much as you can to earn rewards and paying off your credit card bill in full every month so you don’t lose your cash back to interest.
Once you’re comfortable with your Quicksilver, you can decide if you want to take on more credit cards and have a more complex card strategy or if one flat-rate cash back card is sufficient for you.
Other cash back cards to look into
The Capital One Quicksilver isn’t the only flat-rate cash back credit card worth considering. If you’re on the market for a no-annual-fee card that earns rewards on every purchase, here are a few other options we recommend looking into.
No-annual-fee cash back cards to consider
|American Express Cash Magnet® Card||1.5% cash back on every purchase||$150 for spending $1,000 in the first 3 months|
|Chase Freedom Unlimited®||
||Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) – worth up to $300 cash back!|
|Citi® Double Cash Card||
||Earn $200 cash back after spending $1,500 on purchases in the first 6 months of account opening.|
As you can see, there are other cards that can offer you at least 1.5 percent back on all purchases.
If you’re choosing your first cash back card but planning on getting a premium rewards credit card in the future, you may want to get the American Express Cash Magnet Card. It earns 1.5 percent cash back on all purchases, charges no annual fees and can help you create a relationship with American Express. Credit card issuers tend to reward loyalty, and Amex offers some of the most desirable rewards card products.
The Chase Freedom Unlimited used to be another 1.5 percent cash back credit card, but the issuer upgraded this popular product in 2020. Now, cardholders can also earn 5 percent cash back on travel purchased through the Chase Ultimate Rewards portal and 3 percent cash back on dining and drugstore purchases.
This rewards structure allows for more cash back potential than the Capital One Quicksilver can offer. Plus, it can be an excellent card to get if you’re interested in joining or already earning Chase Ultimate Rewards.
The Citi Double Cash Card is another option that can offer more value than the Quicksilver. With this card, you’ll earn unlimited 1 percent cash back on all purchases and another 1 percent when you pay them off. Essentially, you’ll be getting 2 percent back if you pay your credit card bills.
The bottom line
The Capital One Quicksilver credit card might not offer the most value as far as flat-rate cash back credit cards go. Still, it’s a decent choice both for cardholders seeking simplicity in their card rewards and those looking for a product to complement their more complex credit card strategy.
Compare your credit card options using CardMatch where you can check what cards you have good chances of being approved for based on your credit profile. It’s free and has no impact on your credit.