Unlimited Cash Back: The Quicksilver Cash Rewards Credit Card
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Are you tired of trying to figure out all the various bonus categories on different credit cards? Perhaps you find that you never really spend much in those categories. Or maybe you don't care about points because you rarely travel or would rather not bother with exchanging the points for gift cards or merchandise. The Capital One® Quicksilver® Cash Rewards Credit Card is great for those who want no-fuss cash rewards. (See also: Best Cash Back Credit Cards)
Why We Like This Card
- $100 cash one-time bonus
- Unlimited 1.5% cash back for all purchases
How This Card Works
The Capital One Quicksilver Rewards Card awards a flat rate of unlimited 1.5% cash back for all purchases. The Quicksilver rewards program allows redemption at any time, without minimum requirements. There is no annual fee.
Bonus: One-time $100 cash bonus after you spend $500 on purchases within the first 3 months. Also, get 0% intro APR on balance transfers and purchases for 9 months. (After that, there is a 13.24%-23.24% variable APR; a 3% fee applies to each balance transferred.)
You can set up automatic redemption which redeems your cash back whenever you reach the threshold you designate, such as $25, $50, $100, or $100. There are also opportunities to donate your cash back through Capital One's Giving Site. You can earn an unlimited amount of cash back, which does not ever expire.
Visa Signature benefits. This card includes Visa Signature benefits such as complimentary upgrades and savings at hotels and resorts, complimentary 24-hour concierge service for assistance with purchases and travel arrangements, shopping discounts with top retailers, and exclusive access to events such as concerts, sporting events, and premier golf outings.
- $0 Annual Fee
- 0% Intro APR for purchases and balance transfers for 9 months (then 13.24%-23.24% variable APR)
- 3% Balance Transfer Fee
- 0% Foreign Transaction Fee
Valuable bonus. The spend requirement of $500 within three months is not only lower than most offers, but the $100 cash bonus you earn is particularly valuable especially considering there is no annual fee. This is one of the best cash sign-up bonuses offered by rewards credit cards without annual card fees.
Introductory APR. Get 0% APR for 9 months, which provides an opportunity to either pay down a large purchase or transfer a balance from a card with a higher APR and save money in interest payments. It is important, however, to pay down the balance during the introductory period in order to maximize this opportunity. (See also: Credit Cards with 0% APR Offers)
Simple rewards program. One of the best features of this rewards program is its simplicity in earning and redeeming. There are no specific purchase categories to manage, nor do you have to sign up for categories that rotate quarterly. Every purchase made with the card earns a flat rate of 1.5% cash back. In addition to Capital One's no frills earning, redeeming is just as simple, without requiring complicated conversions or minimum requirements for redemption.
No foreign transaction fee. Capital One credit cards are known for being one of the main credit card issuers providing cards without foreign transaction fees. This is especially beneficial if you travel abroad frequently and can help save money on foreign transactions. Furthermore, most rewards cards that offer zero foreign transaction fees often charge annual fees of at least $50 per year.
Not the highest rate of rewards. Although the rewards program is simple and straightforward, the cash back amount of 1.5% is not the highest rate available. If the majority of your spending falls within a particular category, you can earn more with rewards cards that provide bonus cash back for those purchases. For instance, the Blue Cash Preferred Card from American Express has an annual fee of $95 ($75 if your application is received by 8/3/16), but it awards 6% cash back for up to $6,000 in US grocery store purchases per year, 3% cash back for gas and US department store purchases, and 1% cash back for all other purchases.
Who This Card Is Best For
The Quicksilver Rewards Card is best for consumers whose spending varies and may not always fall within a particular category. Because of this, you can benefit more from a credit card with a simple, flat rate rewards program, than you can with a card that focuses on a couple categories or rotating categories. It is also best for those who may be able to take advantage of the valuable sign-up bonus and promotional APR. This card is also particularly ideal if you frequently travel abroad because it is one of the most economical cards available without a foreign transaction fee.
Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any bank, card issuer, airline or hotel chain.