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? Or perhaps you find that you never really spend that much in those categories. Or maybe you don't care about points because you rarely travel or want to 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.
The card allows you to earn unlimited 1.5% cash back on every purchase. There are no rotating categories or sign ups needed to earn cash rewards. You can redeem the cash back at any amount, at any time — the cash back doesn't expire. The card was voted "Best Rewards" credit card winner from MONEY Magazine in 2013. Also, like all the cards from Capital One, there are no foreign transaction fees.
Sign Up Offer: One-time $100 bonus once you spend $500 on purchases within the first 3 months. 0% APR on balance transfers and purchases until September 2015. (After that, there is a 12.9%-22.9% variable APR and a 3% fee applies to each balance transferred.)
You also get the Capital One® Credit Tracker, a free tool that helps you monitor your monthly credit score anytime, anywhere.
This card is part of the Visa Signature line of credit cards, so it comes with their standard benefits like travel upgrades, concierge service, special access to events, roadside assistance, extended warranty, car rental insurance, and travel accident insurance.
There is no annual fee for this card. A 3% fee applies to each balance transferred after the intro period.
The Quicksilver® Cash Rewards Credit Card is a great card to add to any wallet because of the unlimited one and a half percent cash back rate that each credit card owner earns. Why is that? Other reward credit cards available to consumers today tend to offer only a little more cash back (around two to five percent) for certain categories — such as gas or grocery stores but then only give you just one percent on every other purchase.
For those of you that don't enjoy that type of "keeping track," it pays to keep the Quicksilver around. Fifty percent more can add up to a lot by the end of the year (on all other regular purchases, compared to other cards). And again, there's no limit on these rewards, unlike other cards that put a cap on the amount that would qualify for the higher rewards.
There is no annual fee for this credit card, which is a major pro. And, in addition, there are no expiration dates on your cash rewards (as long as the account is open). You can redeem your cash rewards at any time (for any amount). You don't have to reach a certain threshold like other credit cards on the market.
And not having to deal with foreign transaction fees makes this a great card to bring with you when you travel.
For me, the worst part of this credit card is the fact that you can't leverage points to earn even more for your purchasing. With other cards that earn points, you have the opportunity to exploit frequent flyer and hotel programs to extract more out of a program than you normally would out of a strictly cash back program. I would say that this card, while earning 1.5% back, isn't exactly the most attractive card in terms of percentage back on the market. If, however, you value instant cash back instead of points that you must spend time figuring how to use, then this is absolutely the card for you!
Who This Card Is Best For
The Capital One® Quicksilver® Cash Rewards Credit Card is great for people who don't want to bother with a points system that they must calculate and keep track of based on oftentimes changing bonus categories. It offers a very straightforward cash rewards system that you can cash out at any time, for any amount. Additionally, having no limits on the 1.5% cash back makes this one of the best cash rewards cards out there.
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 card issuer.