Capital One Quicksilver Cash Rewards Credit Card Review 2023

Capital One Quicksilver Cash Rewards Credit Card is an excellent choice for those who want to earn cashback on everyday purchases. This card offers a welcome bonus of $200 after spending $500 within the first three months of account opening. The best part? You can earn unlimited 1.5% cashback on every purchase, making it easy to rack up rewards quickly.

So, what exactly is Capital One Quicksilver? Simply put, it's a credit card that allows you to earn cashback rewards on your purchases. With this card, you'll enjoy a 0% intro APR period for purchases and balance transfers for the first 15 months. Plus, you can receive statement credits for eligible purchases made through Capital One Shopping, a free browser extension that helps users save money while shopping online.

One of the standout features of Capital One Quicksilver is its mobile app. With this app, you can easily manage your account, track your rewards, and redeem your cashback rewards on-the-go. Whether you're at home or on-the-go, you'll have access to all the information you need about your account.

If you're someone who loves to travel, then Capital One Quicksilver may be just what you need. You can use your rewards to book travel through the Capital One Travel portal or redeem them for statement credits. This flexibility makes it easy to get the most out of your rewards no matter how you like to use them.

Benefits of Capital One Quicksilver Cash Rewards Credit Card

No Annual Fee for Quicksilver Card

The Quicksilver card is a rewards credit card from Capital One that offers a range of benefits to its users. The first benefit is the lack of an annual fee, which makes it an attractive option for those who want to earn cash back on their purchases without having to pay extra fees. This feature sets it apart from the QuicksilverOne card, which does have an annual fee of $39.

Excellent Credit Required for Approval

Another advantage of the Quicksilver card is that it requires excellent credit for approval. This means that if you have a good credit score, you are more likely to be approved and receive better terms and conditions than with other cards designed for people with average or fair credit. On the other hand, if your credit score is not as high, you may be better off applying for the QuicksilverOne card instead.

Sign-Up Bonus and Cash Back Rewards

The Quicksilver card also offers a sign-up bonus of $200 after spending $500 in the first three months, making it one of the best cash rewards cards available. This time-limited cash bonus can help you offset some of your initial expenses while earning unlimited cash back rewards on all your purchases. You will receive 1.5% cash back on every purchase made with this card, regardless of category or merchant type.

Introductory APR Offer

In addition to these benefits, the Quicksilver card also provides a 0% introductory APR on purchases and balance transfers for the first 15 months. This offer can save you money on interest charges during this period and allow you to pay down your balance faster without accruing additional fees or penalties.

QuicksilverOne Card Benefits

While the QuicksilverOne card has fewer benefits compared to its counterpart, there are still some advantages worth mentioning. For example, like the Quicksilver card, it offers 1.5% cash back on all purchases, but with a lower credit limit. This card is designed for people who have average or fair credit and want to improve their score over time.

World Elite Mastercard Benefits

Both the Quicksilver and QuicksilverOne cards also come with World Elite Mastercard benefits such as travel accident insurance, extended warranty protection, and 24/7 concierge service. These extra perks can enhance your overall experience as a cardholder and provide additional value beyond cash back rewards.

Drawbacks of Capital One Quicksilver Cash Rewards Credit Card

Late Payments: A Major Drawback of Capital One Quicksilver Cash Rewards Credit Card

One of the major drawbacks of the Capital One Quicksilver Cash Rewards Credit Card is that it charges a high penalty fee for late payments. If you miss a payment deadline or make a late payment, you will be charged $40 as a penalty fee. This can add up quickly if you are not careful with your payments.

To avoid this drawback, it is important to set up automatic payments or reminders to ensure that you never miss a payment deadline. Additionally, if you do happen to make a late payment, it is worth contacting Capital One's customer service team to see if they can waive the penalty fee as a one-time courtesy.

Restricted Access: Why Your Capital One Quicksilver Card May Be Restricted

Another potential drawback of the Capital One Quicksilver Cash Rewards Credit Card is that some cardholders may experience restricted access to their credit limit. This can occur due to various factors such as low credit utilization, missed payments, or changes in creditworthiness.

If your card has been restricted, there are several steps you can take to resolve the issue. Firstly, review your account activity and check for any missed payments or other issues that may have triggered the restriction. Secondly, contact Capital One's customer service team and ask them about the reason for the restriction and what steps you can take to lift it.

In some cases, it may be necessary to improve your credit score or increase your credit utilization in order to regain access to your full credit limit. However, by taking proactive steps and working with Capital One's customer service team, you should be able to resolve any issues and regain full access to your card's benefits.

How the Quicksilver Cash Rewards Credit Card differs from the QuicksilverOne card

Late Payments Can Result in a Penalty APR of Up to 29.99%

If you're considering applying for the Capital One Quicksilver Cash Rewards Credit Card, it's important to understand that late payments can have serious consequences. Specifically, if you fail to make your minimum payment by the due date, you may be subject to a penalty APR of up to 29.99%. This is significantly higher than the standard APR for the card, which typically ranges from 15.49% - 25.49%, depending on your creditworthiness.

It's also worth noting that this penalty APR can be applied indefinitely after just one late payment. So even if you've been a responsible cardholder for years and have only missed one payment, your interest rate could skyrocket and stay elevated until you pay off your balance in full.

Late Payments Can Also Result in a Late Fee of Up to $40

In addition to the penalty APR, late payments on the Capital One Quicksilver Cash Rewards Credit Card can also result in a late fee of up to $40. This fee is charged when your minimum payment is not received by the due date or if it's less than the minimum amount due. While $40 may not seem like a significant amount compared to other fees charged by credit cards, it can add up quickly over time if you're consistently making late payments.

Late Payments Can Negatively Impact Your Credit Score

Perhaps most importantly, late payments on any credit card – including the Capital One Quicksilver Cash Rewards Credit Card – can negatively impact your credit score. Payment history is one of the most important factors that goes into calculating your FICO score (the most commonly used credit scoring model), accounting for 35% of your overall score.

If you make even one late payment on your Quicksilver card or any other credit account, it will show up on your credit report and remain there for seven years from the date of the missed payment. This can have a significant impact on your credit score and make it more difficult to qualify for loans, credit cards, and other financial products in the future.

If You Have a History of Late Payments, You May Not Be Approved for the Capital One Quicksilver Cash Rewards Credit Card

Finally, if you have a history of making late payments or defaulting on credit accounts altogether, you may not be approved for the Capital One Quicksilver Cash Rewards Credit Card at all. This card is designed for consumers with good to excellent credit (typically defined as a FICO score of 670 or higher), so if your credit history shows that you're not responsible with credit, you may be denied.

It's important to note that being denied for a credit card can also negatively impact your credit score. When you apply for any type of credit – whether it's a mortgage, auto loan, or credit card – the lender will typically perform a hard inquiry on your credit report. This inquiry can lower your score by a few points temporarily and remain on your report for up to two years.

Who can apply for the Capital One Quicksilver Cash Rewards Credit Card?

Use the Capital One Quicksilver card for everyday purchases to earn cash back rewards.

The Capital One Quicksilver Cash Rewards Credit Card is an excellent choice for those looking to earn cash back on their everyday purchases. With this card, you can earn 1.5% cash back on every purchase you make, with no limit to how much you can earn. This means that whether you're buying groceries, filling up your gas tank, or paying your bills, you're earning cash back rewards.

Redeem rewards for statement credits, gift cards, or even travel options.

One of the best things about the Capital One Quicksilver card is that there are multiple ways to redeem your rewards. You can choose to receive a statement credit on your account, which will reduce your balance by the amount of your reward. Alternatively, you can redeem your rewards for gift cards to popular retailers and restaurants. Finally, if you're planning a trip and want to use your rewards towards travel expenses like airfare or hotel stays, Capital One also offers travel redemption options.

Consider pairing the Capital One Quicksilver card with a Chase Ultimate Rewards card to maximize rewards earning potential.

If you're looking to maximize your cash back earnings potential even further, consider pairing the Capital One Quicksilver card with a Chase Ultimate Rewards card. By doing so, you can take advantage of bonus categories offered by both cards and earn even more cash back on all of your purchases.

Take advantage of special offers and promotions to earn bonus cash back on specific purchases.

Capital One frequently offers special promotions and bonuses for using their credit cards at certain merchants or for making specific types of purchases. For example, they may offer extra cash back when using the Quicksilver card at select retailers during the holiday season or when booking travel through specific websites. Be sure to keep an eye out for these promotions so that you can take advantage of them and earn even more cash back rewards.

Plan ahead and use your rewards strategically for maximum value, such as using them towards trip options.

Finally, if you want to get the most value out of your Capital One Quicksilver rewards, it's important to plan ahead. By doing so, you can use your rewards strategically to get the most bang for your buck. For example, if you're planning a trip in the near future and have enough rewards saved up, consider using them towards travel expenses like airfare or hotel stays. This can help reduce the cost of your trip and make it more affordable overall.

How to Apply for the Capital One Quicksilver Cash Rewards Credit Card?

Unlimited Cash Back Rewards on Every Purchase

The Quicksilver Cash Rewards Credit Card from Capital One is a top choice for those who want to earn more cash back rewards on every purchase. With this card, you can enjoy unlimited 1.5% cash back on all purchases, making it a great option for everyday spending.

If you have excellent credit, you can also enjoy the benefits of a World Elite Mastercard, including travel accident insurance, extended warranty coverage, and 24/7 concierge service. This means that not only will you earn cash back rewards on your purchases, but you'll also have added peace of mind when traveling or making large purchases.

One-Time Cash Bonus Offer

When you sign up for the Quicksilver Cash Rewards Credit Card from Capital One and spend $500 within the first three months of account opening, you'll receive a one-time cash bonus of $200. This offer is only available to new cardholders and is an attractive option for those looking for a quick cash boost.

No Annual or Foreign Transaction Fees

In addition to earning unlimited cash back rewards and receiving a one-time cash bonus offer, the Quicksilver Cash Rewards Credit Card from Capital One also has no annual fee and no foreign transaction fees. This makes it a great option for frequent travelers who want to save money on fees.

Using Your Capital One Quicksilver Card

Once you've been approved for your Capital One Quicksilver Card, it's important to know how to use it effectively. Here are some tips:

• Use your card regularly: The more often you use your card, the more cash back rewards you'll earn.

• Check your credit score regularly: You can access your credit score through CreditWise availability in the mobile app or website.

• Activate your card: You'll need to activate your new card before using it by signing into your account online or calling the number provided with your new card.

• Pay your bill on time: Late payments can result in fees and damage to your credit score. Set up automatic payments or reminders to ensure you never miss a payment.

Applying for Your Capital One Quicksilver Card

If you're interested in applying for the Quicksilver Cash Rewards Credit Card from Capital One, the process is simple. Here's what you need to know:

Updated review of the Capital One Quicksilver Cash Rewards Credit Card for 2023

Use Capital One's Website or Mobile App to Apply for the Quicksilver Card

Applying for a credit card has never been easier. With just a few clicks, you can apply for the Capital One Quicksilver Cash Rewards Credit Card through their website or mobile app. All you need to do is provide your personal information and financial details, and Capital One will evaluate your application based on their scoring formula.

During Account Opening, Check for CreditWise Availability to Access Your Credit Score and Report

One of the perks of applying for the Capital One Quicksilver Cash Rewards Credit Card is that you can check your credit score and report through their free service called CreditWise. This tool allows you to monitor your credit score and report regularly, so you can keep track of any changes that may affect your eligibility for future credit applications.

Capital One Uses a Scoring Formula to Evaluate Your Application

The Capital One Quicksilver Cash Rewards Credit Card uses a scoring formula that takes into account various factors such as your income, credit history, and more. It's important to note that this formula may differ from other lenders' evaluation methods, so it's always best to review each lender's requirements before applying.

If Approved, You Can Use Your Quicksilver Card to Make Purchases and Earn Cash Rewards on Every Transaction

Once approved for the Capital One Quicksilver Cash Rewards Credit Card, you'll be able to make purchases with ease while earning cash rewards on every transaction. With no annual fee and 1.5% cash back on all purchases made with the card, it's an excellent option for those looking to earn rewards without having to worry about additional fees.

You Can Also Sign Up for Alerts and Notifications Through the Mobile App

To help keep track of your account activity and avoid any potential fraud or unauthorized transactions, consider signing up for alerts and notifications through the mobile app. These alerts can notify you of any changes to your account, such as large purchases or balance transfers.

Note That If You Have an Existing Chase Credit Card, It May Impact Your Eligibility for the Quicksilver Card

It's important to keep in mind that if you have an existing Chase credit card, it may impact your eligibility for the Capital One Quicksilver Cash Rewards Credit Card. Be sure to review each lender's requirements and evaluate whether applying for a new credit card is the right decision for you.

In

Tips for maximizing the rewards of Capital One Quicksilver Cash Rewards Credit Card

Wallethub gave Capital One Quicksilver a 4.5-star rating for 2023.

Capital One Quicksilver Cash Rewards Credit Card is an excellent option if you're looking for a credit card that offers cashback rewards on every purchase. Wallethub, a leading personal finance website, gave the card a 4.5-star rating for 2023, making it one of the best cashback credit cards available in the market today.

The card offers a 0% APR on purchases and balance transfers for the first 15 months.

One of the most attractive features of Capital One Quicksilver is its introductory offer of zero percent APR on purchases and balance transfers for the first 15 months. This means that you can make purchases or transfer balances from other high-interest credit cards without paying any interest charges during this period.

Cardholders can earn 1.5 percent cash back on every purchase made with the card.

Another benefit of using Capital One Quicksilver is that you can earn unlimited cashback rewards on every purchase made with your card. You'll earn 1.5 percent cash back on every purchase, which will be automatically credited to your account at the end of each billing cycle.

The card comes with complimentary Uber rides up to $15 each month during the promotional period.

If you're someone who frequently uses ride-sharing services like Uber, then Capital One Quicksilver has got you covered! The card comes with complimentary Uber rides up to $15 each month during the promotional period (which ends in March 2022). All you need to do is link your Capital One Quicksilver account with your Uber account and use your Quicksilver card as your payment method while booking an Uber ride.

The extended warranty feature allows cardholders to receive an additional year of coverage on eligible items purchased with the card.

Capital One Quicksilver also offers extended warranty protection on eligible items purchased with the card. This means that if you purchase an item that comes with a manufacturer's warranty, Capital One will provide an additional year of coverage on top of it.

Cash rewards earned during the credited membership period can be redeemed for statement credit or a check, and can also be used towards travel expenses.

Finally, one of the best things about Capital One Quicksilver is how easy it is to redeem your cashback rewards. You can redeem your rewards for statement credit or a check, or use them towards travel expenses through Capital One's travel portal. Plus, there's no minimum redemption threshold, so you can redeem your rewards as soon as you earn them!

Is the Capital One Quicksilver Cash Rewards Credit Card right for you?

Good Option for Straightforward Cashback Program

Capital One Quicksilver Cash Rewards Credit Card is a good option for those who want a straightforward cashback program. If you have excellent credit and spend a lot on everyday purchases, the Quicksilver card can be a good choice. The card offers unlimited 1.5% cashback on every purchase, making it a good option for those who want to earn rewards without worrying about categories or limits.

The Quicksilver card also offers a good sign-up bonus of $200 after spending $500 in the first three months of account opening. This can be an attractive feature for those who are looking to earn rewards quickly and easily.

Additionally, the Quicksilver card doesn't charge foreign transaction fees, making it a good option for those who frequently travel abroad. This can save you money on fees that other credit cards may charge when used overseas.

Good Rewards Program for Everyday Purchases

The Capital One Quicksilver Cash Rewards Credit Card is known for its simple rewards program that allows users to earn cash back on every purchase they make with the card. This makes it easy to accumulate rewards without having to worry about rotating categories or complicated redemption processes.

With unlimited 1.5% cash back on all purchases, the Quicksilver card is particularly well-suited for people who use their credit cards frequently for everyday expenses like groceries, gas, and dining out. By earning cash back on these types of purchases, users can quickly rack up rewards that can be redeemed for statement credits or deposited into their bank accounts.

Another benefit of the Quicksilver card's rewards program is that there are no minimum redemption amounts or expiration dates to worry about. This means that users can redeem their rewards whenever they choose, regardless of how much they have accumulated over time.

Good Choice For Those Who Travel Abroad

If you're someone who travels frequently outside of the United States, then the Capital One Quicksilver Cash Rewards Credit Card may be a good choice for you. This is because the card doesn't charge foreign transaction fees, which can save you money on every purchase you make while overseas.

In addition to this, the Quicksilver card also comes with travel accident insurance and 24-hour travel assistance services. This can provide peace of mind when traveling abroad, knowing that you have access to emergency services if needed.

Frequently Asked Questions (FAQs) about the Capital One Quicksilver Cash Rewards Credit Card

Q: What is the Capital One Quicksilver Cash Rewards Credit Card?

A: The Capital One Quicksilver Cash Rewards Credit Card is a cashback credit card that offers unlimited 1.5% cashback on all purchases, with no annual fee.

Q: Who can apply for the Capital One Quicksilver Cash Rewards Credit Card?

A: Anyone who is at least 18 years old and has a good credit score can apply for the Capital One Quicksilver Cash Rewards Credit Card.

Q: How do I apply for the Capital One Quicksilver Cash Rewards Credit Card?

A: You can apply for the Capital One Quicksilver Cash Rewards Credit Card online through the Capital One website or by calling their customer service hotline.

Q: What are some benefits of using the Capital One Quicksilver Cash Rewards Credit Card?

A: Some benefits of using the Capital One Quicksilver Cash Rewards Credit Card include earning unlimited 1.5% cashback on all purchases, no foreign transaction fees, and access to exclusive travel deals and experiences.

Q: Are there any drawbacks to using the Capital One Quicksilver Cash Rewards Credit Card?

A: Some potential drawbacks of using the Capital One Quicksilver Cash Rewards Credit Card include a relatively high APR if you carry a balance, no bonus categories for higher cashback rates, and limited redemption options.

Q: How does the Quicksilver Cash Rewards Credit Card differ from the QuicksilverOne card?

A: The main difference between these two cards is that while both offer cashback rewards, the QuicksilverOne card requires a lower credit score to qualify but only earns 1.5% cashback on select categories with an annual fee.

Q: How can I maximize my rewards with the Capital One Quicksilver Cash Rewards Credit Card?

A: To maximize your rewards with the Capital One Quicksilver Cash Rewards Credit Card, consider using it for all of your everyday purchases and paying off your balance in full each month to avoid interest charges. You can also take advantage of any special promotions or offers that Capital One may offer from time to time.