Capital One Quicksilver Cash Rewards Credit Card Review: 1.5% Flat Cashback Rate

Jacqueline DeMarco

Writer

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.

It comes with a flat 1.5% cashback rate, so you don't have to keep track of rotating or bonus categories. And if you're a traveler, you'll earn 5% cashback on hotels and rental cars booked through Capital One.

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

. . .

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 1.5% 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 can also earn 5% cashback on hotels and rental cars booked through Capital One Travel.

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

Get started with the Capital One Quicksilver Cash Rewards Credit Card.

Welcome Bonus

We never recommend choosing a credit card just for the welcome bonus since you can only qualify for this offer once and you typically have to spend money to earn it. That being said, it’s always helpful to review the current welcome bonus when comparing different credit cards.

With the Capital One Quicksilver Cash Rewards Credit Card, you can earn a one-time $200 cash bonus after spending $500 in the first three months.

How to Earn Rewards

With the Capital One Quicksilver Cash Rewards Credit Card, you can earn 1.5% cashback on any purchase you make. If you’re planning any trips, you can also earn 5% cashback when using this card to book hotels and rental cars through Capital One Travel. 

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

Get started with the Capital One Quicksilver Cash Rewards Credit Card.

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.

However, as easy to use as this 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

It’s always a good idea to review a few different credit card options before choosing one.

The main feature of the Capital One Quicksilver Cash Rewards Credit Card is its simplicity when earning and redeeming rewards. But there are other cards out there with easy reward structures that may suit your spending better.

Capital One Quicksilver Cash Rewards Credit Card vs. 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)
American Express Cash Magnet Credit Card

. . .

The American Express Cash Magnet® Card is very similar to the Quicksilver Cash Rewards. It offers the same amount of cashback (1.5% on all purchases) and also doesn’t charge an annual fee. The welcome bonus is also comparable, although has a higher spending requirement.

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 to the Quicksilver Cash Rewards.

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.

Capital One Quicksilver Cash Rewards Credit Card vs. Chase Freedom Unlimited®

  • Rewards rate: 5% cashback on travel through Chase Ultimate Rewards®; 3% on restaurants and takeout; 3% at drugstores; 1.5% on all other purchases
  • Welcome offer: $200 bonus after you spend $500 in the first 3 months from account opening
  • Annual fee: $0
Chase Freedom Unlimited

. . .

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'll earn at least 1.5% cashback on all purchases. However, you'll also earn 3% cashback on dining and drugstore purchases. For travelers, you can earn 5% on travel booked with the card through the Chase Ultimate Rewards portal.

Neither card charges an annual fee.

Get started with the Chase Freedom Unlimited®.

Capital One Quicksilver Cash Rewards Credit Card vs. 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
Citi Double Cash

. . .

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.

With the Citi® Double Cash Card, you earn 1% at the time of purchase and the other 1% when you pay off the purchase. Both cards have no limit on reward earnings or the types of purchases that qualify for rewards.

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.

Final Thoughts

For easy-to-understand rewards, the Capital One Quicksilver Cash Rewards Credit Card is hard to beat. It has a decent 1.5% 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.


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.

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I'm an award-winning lawyer and personal finance expert featured in Inc. Magazine, CNBC, the Today Show, Business Insider and more. My mission is to make personal finance accessible for everyone. As the largest financial influencer in the world, I'm connected to a community of over 20 million followers across TikTok, Instagram, YouTube, Facebook and Twitter. I'm also the host of the podcast Erika Taught Me. You might recognize me from my viral tagline, "I read the fine print so you don't have to!"

I'm a graduate of Georgetown Law, where I founded the Georgetown Law Entrepreneurship Club, and the University of Notre Dame. I discovered my passion for personal finance after realizing I was drowning in over $200,000 of student debt and needed to take action-ultimately paying off my student loans in under 2 years. I then spent years as a corporate lawyer representing Fortune 500 companies, but I quit because I realized I wanted to have an impact; I wanted to help real people and teach them that you can create a financial future for yourself.

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Our aim is to help you make financial decisions with confidence through our objective article content and reviews. Erika.com is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as MileValue.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. This in no way affects our recommendations or article content.

Advertiser Disclosure

Our aim is to help you make financial decisions with confidence through our objective article content and reviews. Erika.com is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as MileValue.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. This in no way affects our recommendations or article content.

Advertiser Disclosure

Our aim is to help you make financial decisions with confidence through our objective article content and reviews. Erika.com is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as MileValue.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. This in no way affects our recommendations or article content.