Card Review: Capital One® Quicksilver® Cash Rewards Credit Card
The Capital One® Quicksilver® Cash Rewards card is a solid credit card. It is one of Capital One®’s most popular rewards cards, and very useful if you want to earn cash on all purchases, which can be redeemed for account credit, gift cards, checks in the mail, and you can even donate them to friends or family.
The beauty of this card is the cash back rewards on all purchases. Other cards offer cash back on gas, groceries, or other select purchases, but Capital One® rewards you for any purchase you make. It offers unlimited 1.5% cash back rewards, with a varying APR dependent on the applicant’s credit profile. There is no annual fee, and Capital One® offers a $100 cash bonus with qualifying purchases made in the first three months.
Applying is made very simple through their website, with the handy pre-qualify tool. By providing some basic information, you are able to see which cards you are pre-qualified for, without harming your credit score. They use a soft credit pull, which does not show on your credit report, to see which card is most appropriate. While a pre-qualified card is not the same as a pre-approved card, and there is no guaranteed approval until you complete the full application, being pre-qualified gives you a pretty good chance of being approved.
If used for daily purchases, the cash back rewards accumulate very quickly. Users have the option to redeem the rewards, at no minimum threshold, for account credit. Within a matter of days, the rewards amount will be credited to the account. Users also have the option to redeem for a check or selected gift card, although gift cards are usually only available in $25, $50, and $100 increments, so there is a minimum rewards balance needed. The rewards can also be donated to various charities. If used for daily purchases and paid off monthly, rewards can accumulate very quickly, and the choice of reward is a great deal.
Capital One® offers two versions of the Quicksilver® Cash Rewards Card, with the only difference being an annual fee. The standard, higher-level one offers zero annual fees with lower APRs, and is a Visa Signature card, but requires a higher credit score. The QuicksilverOne® MasterCard offers the same 1.5% rewards on all purchases but comes with a $39 annual fee – although it is generally much easier to qualify for, with users reporting approval even with fair to average credit.
Capital One® has excellent customer service, the ability to chat real-time with a friendly representative during business hours, and the website is very easy to use. You can even request credit line increases with no harm to your score, and if you get the Quicksilver® One card, you will be enrolled in their credit steps program, which automatically increases your line of credit after 5 monthly payments.
Click Here to Apply for the Capital One® Quicksilver® Cash Rewards Card >>