The best card that comes with no annual fee and a simple rewards structure.
The card doesn’t have an eye-catching design or complicated rewards structure. If you are not looking for a cash back for the very first time, it’s very likely that you already know that quite many cards tend to have a rather difficult to understand rewards structure. There can be limits, conditions concerning the way your rewards are given to you and all that stuff. All these don’t refer to this card.
The Capital One® Quicksilver® Cash Rewards Credit Card offers you a flat-rate reward of 1,5% on any kind of purchase you make with it. The fees you’re expected to pay are quite fair.
In this article, you’ll find information on the advantages that make this card different from all the rest credit cards with cash back as well as general information on its features. You’ll also be provided with some other options you’d better consider if your aim is to get the best card in your case.
General information concerning the card
- The card offers high rewards rates while having no limits on the sum you can redeem.
- There is no fee you have to pay each year as well as no fee for the transactions made abroad.
- The card comes with a “bonus” period in terms of APR.
- You’re promised a great sign-up bonus.
- In comparison with other available cards, this card has a shorter APR “bonus” period.
- There are no categories to be activated as bonus ones.
- Your credit score should either be good or excellent if you want to get the card.
- There is no annual fee to pay.
- The Standard APR may vary from 13.99% to 23.99%. Pay attention to the fact that the APR is a subject to changes on the basis of your creditworthiness. There is also Cash Advance APR that amounts to 23.99%. This APR may also vary.
- Special Offer: In case you spend $500 during the first 3 months of using the card, you’ll get a bonus of $150.
- Special Offer in terms of APR: No APR applies for the purchases made and balance transfer operations carried out within the first 9 months.
More information on the card:
- The card allows you to get a bonus of $150 under the condition that you meet the requirement mentioned.
- You earn cash back of 1,5% everyday, for every purchase you make with the card.
- You can get a statement credit to use on your Shopify Premium subscription. The offer expires in May 2018.
- There is are no fees to pay each year and for the purchases you make abroad.
- The reward you can earn is unlimited. The rewards don’t expire for as long as your account is active. There are no bonus categories to be activated. You are rewarded for every purchase made.
- There is an-interest free period that amounts to 9 months. After that, the APR that may vary from 13.99% to 23.99% occurs.
- You can carry out balance transfer operations for free during the first 9 months. Once the period is over, the fee of 3% on each carried out operation will apply.
The basic features of the Capital One® Quicksilver® Cash Rewards Credit Card
This quicksilver card allows you to earn rewards for every purchase you make. The rate amounts to 1,5% and there are no restrictions concerning the number of bonuses to get. You can redeem any number of your bonuses any time you want and there is no minimal sum to redeem. To make things even better for you, there is no annual fee to pay.
There is good news for those who need a credit card with a sign-up bonus. You can easily get $150 bonus cash. The only requirement here is to spend the sum of $500 during the first 3 months of using the card.
There is no APR in terms of purchases and balance transfer operations during the first 9 months. However, you’ll be charged 3% on the total sum you wish to transfer after that.
The reasons for you to apply for the card
Of course, it’s obvious that the card doesn’t offer the highest rewards rates in comparison with other cards available at the market. Still, its benefits are impossible not to notice. The card is very popular among those looking for a flat-rate reward and a couple of other perks.
- A clear and simply structure of earning the rewards promised. It’s actually an outstanding card for those who prefer the rewards programs to be straightforward. With this card, you’ll forget about bothering to activate bonus categories each quarter of a year. Moreover, there is no need to have a number of cards for specific purchases in case you have this credit card. The reason for it is that the card allows you to get 1,5% cash back on any purchase you make. Mind that there is also no need to worry about the minimal redemption amount since there isn’t any. You are free to decide what sum you want to redeem and when you want to do it.
- It’s easy to qualify for the card. The card is meant for those whose credit score amounts to at least 690. It’s not a secret that the majority of the cards with low fees require you to have a credit score of at least 800. In other words, you may find a certain card appealing to you, but you may fail to qualify for it. This card is your solution in case you face such like problems.
- A very appealing sign-up bonus that’s quite easy to get. It’s not a secret that cardholders often fail to get the sign-up bonus promised simply because they don’t want to spend much. This card is meant for those who want to get the bonus promised without having to spend more than they usually do.
- Fair and low fees. The card is a real gift for those who really dislike paying fees. There is no annual fee at all and there is no additional charge for balance transfer operations. However, the last is valid for only 9 months after you open an account. That’s why you’d better look for a different card if you plan to carry out lots of balance transfer operations in future.
- An-interest free “bonus period. With this card you’ll have enough time to pay off all your purchases without paying any interest.
Our tip: Even though the “bonus” period concerning APR amounts to 9 months, it’s not the longest period that can be offered with a card. If you think that you won’t manage to pay off your purchases in full during this period, you’d better look for a different card.
Other options for you to consider
The card seems to be extremely advantageous from the point of view of its simple and clear rewards system. However, it can’t be an ideal card for everyone. Below, there is information on other options you may consider in case you’re looking for a number of other things in a cash back credit card.
The reasons for you to consider a different card:
You want to find the card that you’ll be able to use on a long-term basis. In this case, you’d better apply for the Citi® Double Cash Card – 18 month BT offer. The card will give you an opportunity to get 2% cash back: 1% when paying and 1% when paying your purchases off. At the same time, there isn’t any sign-up bonus offered for the first year of you using the card. Your rewards rate will get higher starting from the 2nd Before you can get them, you’ll have to spend as much as $20,000 during the first 12 months. If you manage to do it, you’ll be able to have better rewards rates later. The card as well as the Capital One Quicksilver card comes with no fee you’re expected to pay each year. Moreover, it has a longer interest free period. It amounts to 18 months. Once the period is over, you’ll have to pay 3% on the total sum you want to transfer. There is also a limit in terms of the minimal sum to redeem. It amounts to $25. If you’re fine with all the features and restrictions of the card, you can proceed to apply for it.
You’re a customer who spend big sums on groceries and gas. This card is very beneficial for those who just spend various sums of money on different purchases. If you’re one of those spending big sums on gas and groceries, you’d better look for a card that allows you to have a high cash back on these purchases. One of such like cards – Blue Cash Everyday® Card from American Express. With this card you’ll get 3% cash back on the purchases made at the US supermarkets. The maximal sum you can get the mentioned cash back on is $6,000. Once you exceed it, the cash back of 1% will apply. You’ll also save money when paying for gasoline or buying items at the US department stores. There is also a sign-up bonus of $150 that you can get if you manage to spend $1,000 within the first 3 months. Alternatively, you can get the Blue Cash Preferred® Card from American Express. The card differs from its “little brother” in terms of higher rewards rates. Besides, there is a fee of $95 to be paid each year.
You prefer having a certain strategy when spending your money. There are cards that imply the need for you to activate bonus categories each quarter of a year. We have two options here for you to think over. The 1st one is the Chase Freedom® credit card. It’ll be the best card for you if you spend at least $1,500 each quarter of a year. If you spend this sum on making purchases in activated categories, the cash back of 5% will apply. Once you exceed this limit, you’ll get 1% for any future purchase. The card offers you a sign-up bonus in case you happen to spend $500 on various purchases during the first 3 months.
The 2nd option you may find more advantageous than the Capital One Quicksilver card is The Discover it® – Cashback Match™. Actually, it offers the same rewards rates and implies the same minimal sum for which the cash back of 5% will apply. The thing that makes huge difference is that new cardholders will get cash back on all the sum spent within the first year of using the card. It sounds fantastic!
Is the Capital One® Quicksilver® Cash Rewards Credit Card the best option for you?
Even though the card doesn’t have one of the highest rewards rates, it’s very beneficial from the point of view of redemption and the process of earning rewards. If you can’t stand to activate your bonus categories each quarter of a year, the card is the one you should get. Once you start using it, you’ll be able to simply earn your rewards and redeeming them. There are no extra complications. Mind that you can redeem any sum you wish. This is not the feature many of the credit cards have.