Review: Capital One Quicksilver Cash Rewards Credit Card

This post comes from Logan Abbott, editor of the credit cards section of MyRatePlan.com.

Capital One has done away with its old cash-back cards and relaunched with one of the best cash-back cards we’ve ever seen. The Capital One Quicksilver Cash Rewards Credit Card offers some of the best benefits of any cash-back card on the market.

Advantages

  • Earn cash back on every purchase. Cardholders earn 1.5 percent cash back on all purchases, all the time, with no limit on the amount that can be earned. Capital One used to offer only 1 percent cash back with a 50 percent bonus at the end of each year. With the new Quicksilver Cash Rewards Card, Capital One is giving cardholders 1.5 percent cash back on every purchase instead of making them wait until the end of the year to realize that extra half of a percent.
  • $100 cash-back bonus. The card offers a $100 cash-back bonus after you spend just $500 in the first three months that you have the card.
  • No annual fee. There is no annual fee to use the card.
  • Generous introductory APR periods. The card offers a 0 percent APR introductory period on both purchases and balance transfers until August 2014.
  • No foreign transaction fees. The card does not charge a foreign transaction fee for overseas purchases.
  • Visa Signature benefits. The card offers Visa Signature benefits, which include 24/7 concierge service, travel upgrades, $0 fraud liability, auto rental insurance, travel accident insurance, and more.

Disadvantages

  • Excellent credit required. The card is offered only to those with excellent credit scores.
  • 3 percent balance transfer fee. Although the card offers a nice 0 percent intro period on balance transfers, it still charges a 3 percent fee to transfer a balance.

Bottom line

Get it if: You have excellent credit and want to take advantage of one of the best cash-back credit cards available.

Forget it if: You have less than excellent credit.

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Note: While we attempt to be completely objective when reporting on credit cards, this site may be compensated by issuers when a reader applies for a credit card through the links within credit card stories or on our credit card search page. Also note that any terms, rates or other features described in this article can change without notice. Always double-check everything with the issuer before applying for any credit card.

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Comments & discussion

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  • Jcatz4

    I now have a Capital One Quicksilver MasterCard because Capital One just recently bought HSBC MasterCard accounts. I suppose I should be glad that I will be getting 1.5 percent on all of my purchases all the time but I was getting 2 percent on all of my purchases all the time with my old HSBC MasterCard.