Alyssa Powell / Business Insider
There is a ton of travel rewards credit cards and cash back credit cards on the market today, but while the options are a good thing, having a dizzying array of cards to choose from can be downright confusing. That’s not to say how complex some credit card earning structures and rewards programs can be.
After all, not everyone wants to keep track of the rotation of bonus categories or winnings caps. Additionally, some consumers don’t really feel like traveling or having to deal with complex hotel and airline loyalty programs.
This is why the Capital One Quicksilver Cash Rewards Credit Card is so popular. With this cash back card, you earn a flat rate of unlimited rewards on anything you buy, and you can redeem them to cover any purchase you want.
Keep in mind that our focus is on the rewards and benefits that make these credit cards great options, not things like interest rates and late fees, which will far exceed the cost. value of points or miles. It’s important to exercise financial discipline when using credit cards by paying off your balances in full each month, making your payments on time, and spending only what you can afford to pay off.
Capital One Quicksilver Cash Rewards card details
- Get 1.5% unlimited cash back on every purchase you make
- Qualify for a $ 150 cash bonus when you spend $ 500 on your card within three months of opening the account
- 0% APR on purchases and balance transfers for 15 months, followed by a variable APR from 15.49% to 25.49%
- No foreign transaction fees
- No annual fee
- Redeem rewards for statement credits, cash back, or gift cards
Capital One Quicksilver card earning rate
While some cards offer tiered payoff categories or special bonus categories that change throughout the year, the Quicksilver Capital One Card keep it as simple as possible. You’ll earn a flat 1.5% cashback on everything you buy, so you never have to wonder if you’re maximizing your rewards or nearing the earning cap.
Earning 1.5% Cash Back puts this card above many other traditional rewards credit cards that only offer 1% cash back on regular purchases. The big exception is the Citi® Double Cash Cardbecause it offers 2% money back – 1% when you make a purchase and another 1% when you pay it back.
Capital One Quicksilver Card Redemption Options
If you are looking for a card that allows you to redeem rewards in the easiest possible way, definitely consider the Capital One Quicksilver. After you earn a 1.5% flat-rate cashback on everything you buy, you can cash your rewards with a check in the mail or a credit on your statement to cover any purchase made on your credit card up to the balance of your rewards.
You can also redeem your rewards for gift cards if you wish, and your rewards will never expire while your account is open.
Benefits for Capital One Quicksilver cardholders
One of the biggest advantages of Quicksilver Capital One Card is the fact that you get 15 months with 0% APR on purchases and balance transfers. (After that, there is a variable rate from 15.49% to 25.49%.) This makes it easier to consolidate 0% high interest debt, or make a big purchase and pay it off over time without interest. Keep in mind that there is a 3% fee for balance transfers, which is pretty standard.
Beyond the interest rate, this card is quite light on the fees. You won’t pay an overseas transaction fee on purchases made overseas, and this card has no annual fee.
A 3% fee (minimum $ 10) will apply if you use your credit card for a cash advance, and you will pay a fee of up to $ 39 when your credit card bill is paid late.
Read more: The best introductory credit card APR offers
Other cardholder benefits include extended warranties on qualifying items that come with a manufacturer’s warranty, travel accident insurance, 24-hour travel assistance services, and complimentary concierge services. You can also leverage the benefits of your card to access top culinary events, must-see music events, and VIP sporting events.
Capital One Quicksilver Card Comparison
If you are hesitant about this card and considering other options, you should see how several cash back credit cards stack up against in terms of benefits and rewards. The table below highlights some of the best cards in this space:
Alyssa Powell / Business Insider
While the three cards above allow you to earn cash on everything you buy, they each have their pros and cons. For example, the Citi Double Cash Card allows you to earn 2% back with the second half coming in when you pay for each purchase. However, there is no initial sign-up bonus, so it will take longer to accumulate significant rewards.
The Pursue freedom, on the other hand, allows you to earn 5% return in categories that change quarterly upon activation, but with a spending limit of $ 1,500 each quarter. Dealing with rotating categories is not for everyone, and the limit on bonus categories is quite low. Beyond these disappointing factors, you must also “sign up” to receive the bonus rewards each quarter.
At the end of the day, it really pays to compare cash back credit cards and their rewards programs to find the right one for you. You might find that you really want to earn a flat rate rewards, but you might also want a card that offers even more points in the bonus categories. Make sure you check all the cash back credit cards available today before you decide.
Should you buy more than one rewards card?
If you are having trouble choosing between cards that offer different rewards structures, you should consider choosing multiple rewards credit cards to maximize your rewards. You could ask for the Quicksilver Capital One Card in order to earn 1.5% on all regular purchases, for example, but you can also combine it with a card that offers bonus categories that stay the same or change throughout the year.
If you have also retrieved the Pursue freedom, for example, you can use it to maximize the 5% category of each quarter and then move on to your Quicksilver Capital One Card to earn 1.5% on everything you buy. This would be a lucrative option since the Chase Freedom only offers a flat-rate 1% discount on purchases without bonuses. In addition, none of these cards charge an annual fee.
The bottom line
The Capital One Quicksilver Cash Rewards Card keeps things simple with a fixed reward rate and a handful of easy redemption options, making it a popular option with hassle-free consumers. Be sure to compare the other top cash back cards to see how they stack up before you pull the trigger.
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Note: While the offers mentioned above are accurate at time of posting, they are subject to change at any time and may have changed or may no longer be available.