Credit card rewards can get complicated pretty quickly — especially when a card only rewards certain types of spending (think travel or dining out).
If you don’t want to play games with your credit card rewards, you may be on the hunt for a simple cashback credit card that rewards all purchases equally.
This is where the Capital One Quicksilver Cash Rewards Credit Card can come in handy.
Quick Facts: Capital One Quicksilver Cash Rewards Credit Card
- Rewards rate: 5% cashback on hotels and rental cars booked through Capital One Travel; 1.5% on everything else
- Welcome offer: Earn a one-time $200 cash bonus after spending $500 in the first three months
- Annual fee: $0
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Overview of the Capital One Quicksilver Cash Rewards Credit Card
If you want a credit card that will save you money instead of costing you money, the Capital One Quicksilver Cash Rewards Credit Card might be what you’re looking for.
With this card, you'll earn a flat cashback rate on every single purchase you make. There is no limit on how much cashback you can earn and you don’t ever have to worry about your rewards expiring as long as you redeem your cashback before you close your account.
You also won’t have to worry about paying an annual fee or any foreign transaction fees when you're shopping internationally.
Pros
- No annual fee
- No foreign transaction fees
Cons
- Low rewards rate
- No standout perks
LEARN MORE: Capital One Quicksilver Cash Rewards Credit Card
How to Redeem Rewards
With the Capital One Quicksilver Cash Rewards Credit Card, your rewards never expire as long as you keep your account active and there is no cap on how many rewards you can earn.
You can choose to redeem your rewards for cash or apply them as a statement credit to help pay off your credit card balance.
You also have the option to purchase gift cards with your rewards earnings. If you want, you can redeem your rewards through PayPay or when making Amazon purchases, although this won’t be the most lucrative redemption rate.
The simplicity of the earning structure with the Capital One Quicksilver Cash Rewards Credit Card is one of its main appeals.
Perks and Benefits
Alongside earning cashback, you’ll also get access to several cardholder benefits, such as:.
- No foreign transaction fees
- Extended warranty protection on eligible purchases
- Travel accident insurance
- Exclusive Capital One Travel deals
- Virtual card numbers and account alerts from Eno
- $0 fraud liability
- Security alerts
- CreditWise alerts when your TransUnion or Experian credit report changes
- 24/7 concierge service for travel, entertainment, and dining
Who Should Get the Capital One Quicksilver Cash Rewards Credit Card?
The Capital One Quicksilver Cash Rewards Credit Card is a great fit for anyone who wants to keep things simple. If you don’t like the idea of having multiple rewards credit cards for different types of purchases, you may find this card can get the job done all on its own.
Who Shouldn't Get the Capital One Quicksilver Cash Rewards Credit Card?
As easy to use as the Quicksilver Cash Rewards card is, it doesn’t offer the most substantial rewards or the most enticing perks.
For example, if you love to travel, you would likely fare better with a travel rewards credit card that allows you to earn a higher rate for hotel and airfare bookings.
Many travel credit cards also come with perks like free airport lounge access, a statement credit for TSA PreCheck® enrollment, or flight and hotel upgrades.
Alternatives to the Capital One Quicksilver Cash Rewards Credit Card
American Express Cash Magnet® Card
- Rewards rate: Unlimited 1.5% cashback
- Welcome offer: Earn a $200 statement credit after spending $2,000 in the first 6 months
- Annual fee: $0 (rates and fees)
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The American Express Cash Magnet® Card is very similar to the Quicksilver Cash Rewards. It offers the same amount of cashback and also doesn’t charge an annual fee.
So, how does this card differ? Statement credits and eligible items on Amazon are your only redemption options — there’s no option to redeem cashback via direct deposit into your bank account. However, if you are an existing customer with American Express, you may prefer this card.
All information about the American Express Cash Magnet® Card has been collected independently by Erika.com. The card details on this page have not been reviewed or provided by the card issuer.
Chase Freedom Unlimited®
- Rewards rate: 5% cashback on travel purchased through Chase Travel℠; 3% cashback on drugstore purchases, restaurants, takeout, and eligible delivery services; 1.5% on all other purchases
- Welcome offer: Earn an additional 1.5% cashback on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cashback
- Annual fee: $0
. . .
If you're looking to earn a bit more and don't mind dealing with different spending categories, the Chase Freedom Unlimited® may be a better option.
With this card, you're more heavily rewarded for purchases made at drugstores and restaurants, including on eligible takeout and delivery.
Neither card charges an annual fee.
LEARN MORE: Chase Freedom Unlimited®
Citi® Double Cash Card
- Rewards rate: Up to 2% on all purchases: 1% when you buy, and another 1% when you pay your balance; limited-time offer of 5% total cashback on hotel and car rentals booked on the Citi Travel℠ portal through 12/31/24
- Welcome offer: Earn $200 cashback after you spend $1,500 in the first 6 months
- Annual fee: $0
. . .
If the simplicity of the Quicksilver Cash Rewards appeals to you, then you may also like the Citi® Double Cash Card. That's because the Double Cash rewards you for something you should be doing anyway — paying your monthly bill.
If you're responsible with your credit card usage and pay your balance off every month, you'll earn much more with the Double Cash than with the Quicksilver Cash Rewards.
The Bottom Line
For easy-to-understand rewards, the Capital One Quicksilver Cash Rewards Credit Card is hard to beat. It has a decent flat cashback rate and comes with no annual fee, so as long as you pay off your balance each month to avoid interest charges, you'll come out ahead with this card.
Just keep in mind that it doesn't have any fancy travel perks like airport lounge access, so if you're seeking those types of benefits, you may want to consider a travel rewards card in addition to the Quicksilver Cash Rewards.
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Disclosure: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
