June 26th, 2013

Review: Capital One® Quicksilver® Cash Rewards Credit Card – Easy Cash Back

8 Comments | Twitter | |

 

Review: Capital One Quicksilver Cash Rewards Credit Card | Credit Karma Blog

Capital One has launched two new credit cards—Quicksilver and QuicksilverOne Rewards.

These cards replace the Capital One Cash Card and aim to make earning cash back simpler and more straightforward.

What’s the benefit?

Most cash back credit cards use a calendar of rotating categories to give you higher cash back earnings on certain items or in certain stores quarterly. But the Quicksilver keeps it simple. Here’s what you get:



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Edging out the competition?

The competitors in this space aim at category-specific cash back earnings:

Discover It: This card has a goal of being more consumer-friendly by offering more flexibility in the form of waiving the first late fee, eliminating several other fees, and letting cardholders choose their due date. Like other cards on this list, Discover It has a 1% cash back on all purchases automatically along with 5% on revolving categories. You can read our Discover It review on the blog. Apply for the Discover It.

Chase Freedom – $200 Bonus: This tried-and-true card gives you 5% cash back on rotating categories. That’s a nice benefit, unless you neglect to enroll. Then your spending will default to the 1% cash back that the Chase Freedom offers on other categories. Apply for the Chase Freedom Visa.

Barclaycard Rewards MasterCard: This cash back card for average credit consumers works on a points system. You earn 2 points per $1 spent on gas, groceries and utilities and 1 point per $1 spent on other purchases. The points can be used like cash to pay for purchases on the card. Apply for the Barclaycard Rewards MasterCard.

What should I consider before applying?

The Quicksilver Rewards Card isn’t for everyone. You’ll need excellent credit to get this card. If your credit’s less-than-perfect, you might qualify for the QuicksilverOne Rewards Card. The difference between the two is that the QuicksilverOne Rewards Card has a $39 annual fee. But that can be quickly offset by the cash back earned, if you spend wisely and pay off your balance each month.

As always, make sure to check your current credit standing on Credit Karma before you apply. And avoid applying for several cards at once, as the multiple hard inquiries will ding your credit.

Get more information about the Quicksilver Cash Rewards Credit Card.

Editorial Note: The editorial content on this site is not provided by the bank or issuer. Opinions expressed here are author’s alone, not those of the bank or issuer, and have not been reviewed, approved or otherwise endorsed by the bank or issuer. Credit Karma may be compensated by companies mentioned through advertising, affiliate programs or otherwise. It is this compensation that enables Credit Karma to provide its members with services like free access to your credit scores and free monitoring of credit and financial accounts at no charge.

 

Bethy

is the Social Media Manager and Writer at Credit Karma, where she’s been since February 2011. When she’s not writing about credit and finance all over the web, you can find her playing her guitar, catching the latest movie, training for her next race or just exploring the city of San Francisco. Say “Hi” on Twitter: @bhardeman.

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Disclaimer: All information posted to this site was accurate at the time of its initial publication. Efforts have been made to keep the content up to date and accurate. However, Credit Karma does not make any guarantees about the accuracy or completeness of the information provided. For complete details of any products mentioned, visit bank or issuer website.

8 Comments

  1. Credit Karma has been giving me a rating for a couple of years, however, I have an active credit card that goes back about 15 years and it is never mentioned nor figured into the credit rating. How do I get this corrected?

    linda krall at 3:01 pm on June 26, 2013
  2. Jenna

    Hi Linda, it sounds like TransUnion may not be reporting that credit card, but if you email support@creditkarma.com, we’d be happy to look into your account further. Thanks!

    Jenna at 4:00 pm on June 26, 2013
  3. Are customers who have the Capital One Cash Rewards card able to upgrade to that card?

    Patrice at 7:48 pm on July 10, 2013
  4. I was able to upgrade, but only do so after you receive your 50% bonus. Otherwise they’ll just snatch it from you like they did me and I didn’t think about it until it was too late…

    John at 3:14 pm on August 1, 2013
  5. I lied, they did give me my 50% bonus earning for the year, then switched to 1.5% for all purchases made after I recieved my new Quicksilver card!

    John at 6:10 am on August 8, 2013
  6. This card is a much simpler option to credit cards with rotating categories. 1.5% is not bad compared to the 1% on most cards. I also like the $100 bonus for only having to spend $500 in 90 days. If you don’t mind signing up for and tracking categories you can earn a much higher percentage.

    Steve at 2:40 pm on August 11, 2013
  7. Which card–Capital One cash rewards of 1% +50% on cash I earn annually OR Quicksilver of 1.5% –would give me the most cash back? Use an approximate/estimate of 1500 per month.

    Judy Moyers at 1:38 pm on August 22, 2013
  8. They will earn you the exact same. The 1.5% will just be immediate opposed to waiting for your anniversary to receive the remaining .5% Either way Capital One is switching all cash rewards cards to Quicksilver.

    Nyms at 6:22 pm on October 7, 2013

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