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If you love cash back rewards but hate waiting for them to accumulate or dealing with rotating categories, check out the Capital One Quicksilver Cash Rewards Credit Card. It offers incredible benefits and all with no annual fee.
Check out my review on this rewarding credit card to see if it’s right for you.
If you hate jumping through hoops or wasting time figuring out which categories each credit card pays the best rewards in, you’ll love Capital One Quicksilver.
With no limits to rewards you earn and no categories to track, it’s an easy credit card to use to get straightforward cash back, which is honestly what most of us want.
It doesn’t get any easier than earning a flat 1.5% cash back on every purchase.
You don’t have to fumble with different credit cards, wondering which one will pay the most when you dine out and which pays the most on groceries – it’s one card with the same reward no matter what you purchase.
It’s almost unheard of to find a cash-back credit card with no annual fee. While you won’t earn crazy high rewards or points, like some cards that pay 5X the points on travel or special categories each quarter, any rewards you do earn go straight into your pocket because there’s no annual fee to reimburse.
Even with no annual fee, Capital One Quicksilver offers a nice sign-on bonus that almost makes it a no-brainer if you qualify.
If you spend just $500 in 3 months (who can’t do that), you’ll earn $200 cashback. Just charge your groceries or regular spending, and you’ll meet that threshold in a month.
The Capital One Quicksilver card is great for people with a large purchase coming up and don’t have the full amount to pay off.
With a 0% introductory rate for 15 months, this gives you a lot of time to pay the balance off in full, paying no interest.
You may even be able to make your purchase sooner than you would if you were saving up the cash for it.
It’s hard to find fees on the Capital One Quicksilver credit card, which again is rare in the world of rewards credit cards.
With no annual fee, no foreign transaction fee, and no balance transfer fee, you’re off the hook on the most common fees.
Most rewards credit cards limit the amount of rewards you can earn but not Capital One Quicksilver.
They don’t cap your rewards or your spending in any specific category like many other reward credit cards do.
With the Capital One Quicksilver credit card, you can redeem rewards back in any increment. You don’t have to wait until you hit a specific threshold.
Your rewards are typically available for use within a day or two of earning them too – there’s no long waiting period.
You can redeem your rewards as a standard statement credit, but Capital One offers a few other ways to redeem them as well:
It’s hard to imagine any credit card better than the Capital One Quicksilver card with its numerous benefits, but here are the most common competitors you may want to consider.
Like the Capital One Quicksilver card, the Capital One VentureOne credit card doesn’t have an annual fee. But unlike Quicksilver, the VentureOne card is a travel credit card. You earn 1.25 miles per dollar spent on purchases.
The VentureOne card has a 0% APR for 12 months and no foreign transaction fees, but you can only redeem your rewards for travel purchases. If you don’t travel often, it may not be worth it, plus you earn a lower percentage back per dollar spent.
The VentureOne card does offer a nice bonus of 20,000 points if you spend $500 in the first three months, but if you don’t travel much, it won’t help much.
The Capital One Venture Rewards credit card has a $95 annual fee, but it has a higher cashback rate of 2X miles per dollar spent.
The Capital One Quicksilver card is a travel reward credit card, but you have the option to redeem your cashback via PayPal and use it to purchase items you would normally buy using PayPal.
If you’re a big spender, you’ll earn 100,000 bonus miles after spending $20,000 in the first 12 months you have the credit card.
If that’s too much, the Venture card will pay 50,000 bonus miles if you spend $3,000 in the first three months.
The Citi® Double Cash Card is another no-fee credit card that offers benefits without the annual fee. The Citi® Double Cash Card pays you cashback twice – once when you make a purchase (1%) and another 1% when you pay your bill. The faster you pay your balances off, the quicker you’ll earn that extra 1%.
The Citi® Double Cash Card offers a 0% APR on balance transfers for the first 18 months, but balance transfers don’t earn cashback.
Unlike the Capital One Quicksilver card, the Citi® Double Cash Card doesn’t have any sign-on bonuses, which puts the Quicksilver card in a better position, assuming you’ll spend the allotted amount, which we all know is easy enough to do.
If you have excellent credit, don’t like dealing with rotating categories, and would rather not pay an annual fee for a credit card, you’ve found a gem in the Quicksilver card. With no annual fee, balance transfer fee, or foreign transaction fee, you can save money right off the bat and earn cash back to boot.
Capital One requires excellent credit for the Quicksilver card, which means 700+. If your credit score isn’t excellent or you have any recent derogatory credit, it may be hard to get.
The Capital One Quicksilver One credit card is for fair credit consumers, whereas the Capital One Quicksilver card is for consumers with excellent credit. The Quicksilver One card has a $39 annual fee, lower credit limits, and a 26.99% purchase APR. It does offer the opportunity to increase your credit limit every six months automatically if your credit improves.
Surprisingly, the Capital One Quicksilver credit card doesn’t have an annual fee, making it an even more rewarding card.
If you don’t like the nonsense of dealing with multiple categories and figuring out which credit card to use, the Capital One Quicksilver card offers great benefits with no categories and no annual fee.
Knowing you’ll get a flat 1.5% cashback and can use it in any increment is a pretty good reason to consider the Capital One Quicksilver card if you have excellent credit.