Is Capital One Quicksilver worth it?

The Capital One Quicksilver Cash Rewards Credit Card is a simple flat-rate cash back credit card that offers a low-maintenance way to earn cash back. It earns 1.5 percent back on all purchases and charges no annual fee, which makes it a good choice for more than one type of cardholder.

Is the Capital One Quicksilver the right option for you? Read on to learn who can benefit from this card and whether you should consider applying.

When is the Capital One Quicksilver worth it?

For the simple product that this cash back card is, Capital One Quicksilver can fit various types of cardholders with different goals. Here are four scenarios in which the Quicksilver may be an excellent addition to your wallet:

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You want simplicity

Some people like to have multiple cards and an intricate credit card strategy, while others don’t want to complicate things. It’s understandable: Figuring out how to earn the most rewards every time you pull out your wallet and then calculating the best way to use them can be overwhelming.

If that sounds like a struggle to you, the Capital One Quicksilver can be a good product. It’s a true no-fuss credit card. You get the same cash back rate, no matter what you buy, and you don’t have to worry about annual fees, rotating categories or choosing the right card for every purchase. In fact, the only time the rewards earning differs is when you earn more than 1.5 percent — that’s when the 5 percent back on hotels and rental cars booked through Capital One Travel comes into play.

Redeeming rewards is simple, too. You don’t have to chase down the transfer partner with the highest point value or scour the internet for good travel deals — just use cash back as a statement credit to offset any purchase you wish.

You want a card to complete your credit card strategy

If you do have multiple credit cards and your goal is to maximize rewards in every possible way, a flat-rate cash back credit card is a must-have in your arsenal.

Rewards credit cards, whether it’s a bonus cash back credit card or travel card, typically offer high rewards rates only in certain categories, while the rest of your purchases earn 1 percent cash back or 1 point per dollar. To ensure you earn more than that whatever you spend on, you’ll need a card like Capital One Quicksilver.

You’re planning a large purchase

The simple rewards system and lack of annual fees aren’t the only two great things about Quicksilver. It also comes with a lengthy zero-interest intro period.

When you get the card, you have 15 months of 0 percent intro APR on purchases, meaning you pay no interest if you carry a balance during your first 15 months with the card. (Note, you still have to make minimum payments and a 19.74% - 29.74% (Variable) APR applies after that).

This can come in handy if you’re looking to fund a large purchase. You’ll get enough time to pay it off and still earn cash back without any interest eating into your rewards.

You’re new to rewards credit cards

If you haven’t had a rewards credit card before, the Capital One Quicksilver card can be a great starter cash back card. It can get you into the habit of paying with your credit card as much as you can to earn rewards and paying off your credit card bill in full every month so you don’t lose your cash back to interest.

Once you’re comfortable with your Quicksilver, you can decide if you want to take on more credit cards and have a more complex card strategy or if one flat-rate cash back card is sufficient for you.

In fact, the Capital One Quicksilver was my first rewards credit card. It helped me build credit and get into the world of rewards. It’s such a good stepping-stone kind of card. Since then, I’ve learned to juggle multiple cards and rewards currencies, including cash back, points and miles. It can be a lot, so I’m glad I didn’t dive in before getting my feet wet first.

When is the Capital One Quicksilver not worth it?

While the Capital One Quicksilver can be a solid choice, no card is perfect for everyone. In certain situations, you might want to look into other options.

You want to have one credit card

Juggling multiple credit cards isn’t for everyone, and that’s ok. In this case, you want to ensure your single credit card has a lot to offer—or more than the competition, at the very least.

When it comes to flat-rate cash back, you can find cards that will earn you more. For example, the Wells Fargo Active Cash® Card gets you unlimited 2 percent cash rewards on purchases. Let’s say you spend $10,000 on your card per year. With the Wells Fargo Active Cash you’d earn $200 in cash rewards annually, compared to $150 with the Quicksilver. The more you spend, the bigger that difference will be.

You value credit card perks

In terms of benefits, the Capital One Quicksilver is somewhat bare-bones. Right now, you can get six months of complimentary Uber One membership statement credits. However, that’s not a permanent perk and is set to expire on Nov. 14, 2024. Besides that, the card offers minimal benefits you’re likely to find on most other cards.

Should you get the Capital One Quicksilver?

The Capital One Quicksilver is a good card with a simple rewards system and no annual fee. There are plenty of instances it could be a great addition to your wallet — but it isn’t the only flat-rate cash back credit card worth considering.

If you’re in the market for a no-annual-fee card that earns rewards on every purchase, here are a few other options we recommend looking into.

Other no-annual-fee cash back cards to consider

If you’re choosing your first cash back card but planning on getting a premium rewards credit card in the future, you may want to get the American Express Cash Magnet Card. It earns 1.5 percent cash back on all purchases, charges no annual fees and can help you create a relationship with American Express. Credit card issuers tend to reward loyalty, and Amex offers some of the most desirable rewards card products.

The Chase Freedom Unlimited is another 1.5 percent cash back credit card which also earns 5 percent cash back on travel purchased through the Chase Travel portal and 3 percent cash back on dining and drugstore purchases. This rewards structure allows for more cash back potential than the Capital One Quicksilver can offer. Plus, the rewards are officially Chase Ultimate Rewards points, a popular travel rewards currency, so it can be an excellent card to get if you’re interested in joining or already earning Chase Ultimate Rewards.

Finally, the Citi Double Cash Card is another option that can offer more value than the Quicksilver. With this card, you’ll earn unlimited 1 percent cash back on all purchases and another 1 percent when you pay them off. Essentially, you’ll be getting 2 percent back once you pay your credit card bills.

The bottom line

The Capital One Quicksilver credit card might not offer the most value as far as flat-rate cash back credit cards go. Still, it’s a decent choice both for cardholders seeking simplicity in their card rewards and those looking for a product to complement their more complex credit card strategy.

Compare your credit card options using CardMatch where you can check what cards you have good chances of being approved for based on your credit profile. It’s free and has no impact on your credit.

*All information about the American Express Cash Magnet® Card has been collected independently by Bankrate. The card details have not been reviewed or approved by the issuer.