Capital One Quicksilver Cash Rewards review: A simple way to earn cash back

Capital One Quicksilver Cash Rewards Credit Card overview

The Capital One Quicksilver Cash Rewards Credit Card keeps things simple with an unlimited 1.5% cash-back rate on every purchase, helping your rewards grow over time. However, other cash-back cards offer higher earning rates in specific categories. Card Rating*: ⭐⭐⭐½

*Card rating is based on the opinion of TPG's editors and is not influenced by the card issuer.

The Capital One Quicksilver Cash Rewards Credit Card offers competitive perks for a no-annual-fee card but it does have a few drawbacks worth considering.

TPG recommends that applicants have a good credit score of 670 or higher when applying.

The Quicksilver's simple earning structure may be appealing, but what makes it even more so is the ability to transfer your rewards to Capital One's transfer partners when paired with a card that earns Capital One miles.

Let's dive into the card details.

Related: The best Capital One cards

Capital One Quicksilver pros and cons

Capital One Quicksilver welcome offer

New Capital One Quicksilver cardholders can earn a $200 cash bonus after spending $500 on purchases within the first three months of account opening. Plus, new cardholders will receive a $100 Capital One Travel portal credit during your first cardholder year and upon account opening (no spending is required to receive the credit).

This is the most generous offer we've seen on this card.

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The $100 travel credit is valid for a year and can be used in one or more purchases of flights, hotels, rental cars and vacation rentals; however, rewards won't be earned on the credit.

Most people should be able to meet the low minimum spending requirement without too much effort. But compared to the best travel credit cards, which can offer welcome bonuses worth thousands of dollars, this $200 is just a nice boost to your cash-back earnings.

Capital One does have some application restrictions you'll want to watch out for. You'll typically only be approved for one Capital One credit card every six months. Additionally, if you received a welcome bonus on this card in the past 48 months, you won't be eligible for another one until 48 months have passed.

Related: Cards currently offering welcome bonuses of 100,000 points or more

Capital One Quicksilver benefits

The Capital One Quicksilver isn't designed for travelers seeking perks like lounge access or annual travel credits, which are often included with premium credit cards.

However, the Quicksilver does include some benefits, such as charging no foreign transaction fees. This is a perk that, while now nearly universal on credit cards with annual fees, is rarer for no-annual-fee cards.

Other benefits include:

• Auto rental insurance (secondary coverage)
• Extended warranty protection
• Hertz Gold Rewards Five Star status (enrollment required)
• Travel accident insurance
• Travel and emergency assistance

It's a concise but solid set of benefits for a no-annual-fee card.

Related: The best credit cards for extended warranties

Earning cash back on the Capital One Quicksilver

The Capital One Quicksilver earns an unlimited 5% cash back on hotels, vacation rentals and rental cars booked through Capital One Travel and a flat 1.5% back on all other purchases.

Earning a fixed amount on most purchases is fine if you don't have one high-spending category. However, if you make many monthly purchases in one particular category, such as dining or groceries, you'll likely want to consider a card that earns a bonus in that category, such as the Capital One Savor Cash Rewards Credit Card.

Related: The best credit cards for each bonus category

Redeeming cash back on the Capital One Quicksilver

You can redeem your rewards on the Capital One Quicksilver for a statement credit (the most popular option), check or gift card. You can also use your rewards at Amazon.com checkout and through PayPal.

There's no minimum redemption amount — just sign in to your account via the app or your computer and simply select your preference.

TPG credit cards newsletter and partnerships editor Emily Thompson appreciates the versatility of cash-back rewards. Even though they can be less valuable than her favorite transferable rewards, she uses cash-back to cover things that points and miles don't, like airport snacks and activities.

However, you aren't limited to these redemption options if you have the right card pairing. If you also hold a card that earns Capital One miles, such as the Capital One Venture Rewards Credit Card, you can convert your cash-back to travel rewards at a rate of 1 cent of cash back to 1 Capital One mile. Then, you can transfer them to any of Capital One's 15-plus airline and hotel partners for potentially greater value.

Related: Better together: The ultimate guide to the best credit card combinations

Which cards compete with the Capital One Quicksilver?

The Capital One Quicksilver is a solid no-annual-fee cash back credit card. However, there are better choices for those looking for higher earning rates and more benefits.

• If you have a limited credit history: The Capital One QuicksilverOne Cash Rewards Credit Card also earns 1.5% cash back on all purchases and comes with a $39 annual fee. Beyond that, the perks are very similar. To learn more, read our full review of the Capital One QuicksilverOne.
• If you want higher earning potential: The Citi Double Cash® Card (see rates and fees) earns 2% cash back on all purchases (1% when you buy and 1% as you pay) and has no annual fee. To learn more, read our full review of the Citi Double Cash.
• If you prefer Chase: The Chase Freedom Unlimited® (see rates and fees) also has no annual fee, earns at least 1.5% cash back on all purchases and allows you to transfer your rewards to valuable travel partners with the right card pairing. To learn more, read our full review of the Chase Freedom Unlimited.

For additional options, check out our full list of the best cash-back cards and no-annual-fee credit cards.

Related: How to choose a cash-back credit card

Is the Capital One Quicksilver worth it?

The Capital One Quicksilver is a good fit for people who want one card for everything because it has a simple, fixed 1.5% cash back earning rate. This card is a good choice if you don't spend much of your budget in typical bonus spending categories or prefer not to juggle cards when you're out and about. However, if you spend heavily in specific bonus categories, you may be better served by a card tailored to those purchases.

Bottom line

The Capital One Quicksilver delivers a straightforward 1.5% cash-back rate, a strong welcome bonus and useful benefits, all with no annual fee. It's an excellent choice for anyone who values simplicity and flexibility in their rewards.

That said, if your spending skews heavily toward certain purchases, a card with higher earning rates in bonus categories could offer better returns.

Learn more: Quicksilver Cash Rewards

For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.

Upon enrollment, accessible through the Capital One website or mobile app, eligible cardholders will remain at that status level through the duration of the offer. Please note, enrolling through the normal Hertz Gold Plus Rewards enrollment process (e.g. at Hertz.com) will not automatically detect a cardholder as being eligible for the program and cardholders will not be automatically upgraded to the applicable status tier. Additional terms apply