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Capital One Quicksilver Rewards for Good Credit Card Review

Written by Dayana Yochim
Edited by Carolyn Kimball
Fact-checked by Andrea Coombes

March 12, 2024

Why trust us? Investor.com has no financial relationship with any of the credit card providers whose products we analyze and review. Our opinions are based solely on data and our own extensive independent research — that means unbiased guidance for consumers. Rewards cards in our cashback credit card calculator are listed in descending order according to how much money they pay out annually based on the inputs.

This is the Quicksilver Rewards card's less attractive suitor for those with “good,” but not “excellent” credit — which also describes the terms on offer: Just 1.5% cash back minus any sign-up goodies.

“Good” credit gets you the same 1.5% unlimited cash back rate as the top-of-the-line Quicksilver Rewards card, minus the wooing. There's no welcome bonus or 0% introductory APR offer, which kind of feels like the rewards card equivalent of entering into an arranged marriage.

On the plus side, there’s no rewards spending cap and no annual fee. (For comparison, the QuicksilverOne card for those with "fair" credit charges $39 a year.) Even so, your goal should be to improve your credit enough to eventually graduate to a rewardier card. (I suggest aiming to qualify for a 2% cash back card, of which there are plenty.)

The basics: Earn unlimited 1.5% cash back on every purchase, and 5% cashback on hotels and rental cars booked through Capital One Travel . Requires “good credit” (as in no late payments in the past year or defaults in the past five) to qualify, according to Capital One.

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Best for Rewards Card Newbies

Capital One Quicksilver Rewards for Good Credit

Cashback Per Year

$...

Annual Fee

Welcome Bonus

N/A

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Want to compare more cards? Use our full calculator.

Capital One Quicksilver Rewards for Good Credit pros and cons

thumb_up_off_alt Pros

Unlimited 1.5% cash back on every purchase
5% cashback on hotels and rental cards booked through Capital One Travel
$0 annual fee
No foreign transaction fee
Doesn't require perfect credit for approval

thumb_down_off_alt Cons

1.5% cashback rate is the starting point for many cards
No welcome bonus for new cardmembers
No intro APR on purchases or balance transfers
High APR on unpaid balances

Capital One Quicksilver Rewards for Good Credit cashback rewards spending categories

The following table shows the cashback rewards rate per $1 spent in the six most common spending categories. The “Bonus Rate” refers to the amount you can earn in excess of the card’s standard rewards rate.

Some cashback cards limit the spending amount eligible for the bonus rate (aka the “Spend Cap”). Once you hit that cap (e.g., $1,500 spending in a particular category during a defined time period), the rewards rate on future purchases in that category reverts to the lower “Default Rate.”

Category	Default Rate	Bonus Rate	Bonus Spend Cap	Bonus Spend Period (Months)
Gas	1.50%	-	-	-
Travel	1.50%	-	-	-
Dining	1.50%	-	-	-
Entertainment	1.50%	-	-	-
Pharmacy	1.50%	-	-	-
Groceries	1.50%	-	-	-
Other Purchases	1.50%	-	-	-

Note: The Capital One Quicksilver Rewards Card also pays an unlimited 5% cash back on hotels and rental cars booked through Capital One Travel.

What we like

The main pitch is that this is a rewards card aimed at those with less-than-awesome credit, which means having a record of on-time payments for the past 12 months and no defaults within the previous five years.

There’s no cap on the 1.5% cashback rewards you can earn. The rate applies to all purchases, regardless of category. Take note, big spenders with large lines of credit (and — stern look — the means to pay off your balance in full every single month).

Travelers, take note: You'll earn 5% cashback on hotels and rental cars booked through Capital One Travel. Plus ...

Cap One doesn't charge foreign transaction fees — that pesky 3% additional cost many issuers charge on purchases made outside of the United States.

Reward redemption options are plentiful. They include getting a statement credit, check, or using rewards to purchase gift cards or pay for purchases via Amazon.com and PayPal. Qualifying rewards are transferable between Capital One accounts.

The Quicksilver Rewards for Good Credit card comes with CreditWise, a service that alerts you to changes in your TransUnion and Experian credit reporting files — a handy addition for those working on improving their credit.

Added Capital One perks include complimentary concierge service, 24-7 travel assistance , travel accident insurance and access to Capital One Dining and Entertainment offers.

Oh hey, there’s no annual fee!

What we don't like

The 1.5% cash back rate is super basic. If you're working on improving your credit, you may have to settle. For now. Keep working on improving your credit so you can graduate to a rewardier card. (Bookmark our guide to the Best Flat-Rate Credit Cards for when you're ready.)

Where’s the wooing, Capital One? Unlike the regular Quicksilver Rewards card, this version has no sign-up bonus.

No reprieve on interest rates. Also missing is any 0% APR deal on balance transfers.

High APR on unpaid balances and the card's 5% ($5 minimum) cash advance fee should encourage cardholders to pay off debts in full and avoid using this card as a backup ATM card.

Does not offer preapproval. Unlike the top-of-the-line Quicksilver Rewards and QuicksilverOne cards, potential customers aren't offered the option to apply without impacting their credit. My hunch is that those who are on the cusp of qualifying for the regular Quicksilver card will be offered this card instead.

The bottom line

Is the Capital One Quicksilver Rewards for Good Credit the best rewards card for your wallet? The answer depends entirely on your spending patterns. Let the numbers speak for themselves: Use the investor.com Cashback Credit Card Calculator to see which credit card pays back the highest rewards based on how much you spend each month.

Capital One Quicksilver Rewards for Good Credit fine print

The terms and conditions that apply to the Capital One Quicksilver for Good Credit Card are what will define your relationship with the lender — should you choose to commit.

Does the Capital One Quicksilver Rewards for Good Credit charge an annual fee?

No, there is no annual fee for the Capital One Quicksilver Rewards for Good Credit.

tips_and_updates Trivia time!

How common are annual fees? Roughly 17% of the consumer cash back cards we review charge an annual fee. They range from $39 to $99, with an average annual fee of $67.

Does the Capital One Quicksilver Rewards for Good Credit offer a welcome bonus?

No, the Capital One Quicksilver Rewards for Good Credit card does not currently offer a welcome bonus.

tips_and_updates Fun fact

More than half (55%) of the consumer cash back credit cards we track in the investor.com database offer a welcome bonus, ranging from $30 up to $300. The average sign-up bonus for new cardholders is $197, with the median being $200.

How much cashback can I earn with the Capital One Quicksilver Rewards for Good Credit?

The average American that spends $1000 per month will earn $180.00 in cash back per year using the Capital One Quicksilver Rewards for Good Credit. For comparison, the average annual rewards payout from the cashback credit cards in the investor.com database is $191.26, and $180 is the median.

These calculations are based on average consumer spending data from the Bureau of Labor Statistics (BLS) and the reward payout rates from the providers we track. Of course, you’re so much more than an average data point (aka “consumer unit,” in BLS parlance). The amount you can earn in cashback rewards using the Capital One Quicksilver Rewards for Good Credit depends entirely on your unique spending habits.

Find out exactly how much you’ll rake in with the Capital One Quicksilver Rewards for Good Credit by tailoring the spending inputs in the calculator above.

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Methodology

The results of the investor.com Credit Card Rewards Calculator are based on the monthly spending amounts you enter and the annual dollar value of the rewards each credit card program pays per $1 spent. Credit card companies often express this payout amount as a percentage (e.g., 1.5% of every dollar spent) or on a points basis (e.g. ,1.5 points for every dollar spent). We converted all of them to a dollar amount (“Cash Back Per Year”) to make comparing offers easier.

To calculate the amount of cash back you could earn per year, we factored in:

Spend category inputs: The default dollar values for each “Spend Category” in the Best Cashback Credit Cards tool — gas, groceries, travel, restaurant, entertainment, pharmacy, other — are based on average American spending data from the Consumer Expenditure Surveys from the U.S. Bureau of Labor Statistics. We also include additional spend categories (such as streaming services, online shopping, utilities, transit, Amazon and more) to help you see which rewards cards are most closely aligned with your actual spending patterns. We encourage you to customize the monthly spend inputs for the most accurate results.
Tiered rewards rates: If a rewards credit card pays higher cashback rates on certain spending categories (also called “Bonus Rewards”), that difference is reflected in the total “Cash Back Per Year” tally.
Rewards spending caps: Some cards impose category- or time-based limits (monthly, quarterly, annually) that affect the amount of rewards you can earn. For example, a card may pay 3% cash back on groceries on up to $1,000 of spending each quarter, then revert to the base/default rewards rate until the following quarter. We accounted for bonus spending caps and timeframe in the calculations.
Default rewards rates: Purchases that exceed a spending cap are usually subject to a lower default rewards rate (e.g., 1% or 1.5%). We mathed that out too.
Annual fees: If a rewards card charges an annual fee, we deducted that amount from the “Cash Back Per Year” total to provide a true accounting of a card’s annual rewards payout.

What’s not included in the “Cash Back Per Year” total is the cash value of any sign-up/introductory bonus. We highlight any Welcome Bonus separately. While sign-up bonuses can be the most lucrative part of getting a new cashback rewards credit card, not everyone will want or be able to do what it takes to earn the extra cash. (It usually requires spending a certain amount in a specified time period after the card is activated.)

About the Editorial Team

Dayana Yochim has been writing (articles, books, podcasts, stirring speeches) about personal finance and investing for more than two decades, focusing on bringing clarity and the occasional comedic aside to what is often a murky, humorless topic. She’s written for NerdWallet, The Motley Fool, HerMoney.com, Woman’s Day, Forbes, Newsweek and others, and been a guest expert on "Today," "Good Morning America," CNN, NPR and wherever they’ll hand her a mic.

Carolyn Kimball is a former managing editor for Reink Media Group and investor.com. Carolyn has more than 20 years of writing and editing experience at major media outlets including NerdWallet, the Los Angeles Times and the San Jose Mercury News. She specializes in coverage of personal financial products and services, wielding her editing skills to clarify complex (some might say befuddling) topics to help consumers make informed decisions about their money.

Andrea Coombes has 20+ years of experience helping people reach their financial goals. Her personal finance articles have appeared in the Wall Street Journal, USA Today, MarketWatch, Forbes, and other publications, and she's shared her expertise on CBS, NPR, "Marketplace," and more. She's been a financial coach and certified consumer credit counselor, and is working on becoming a Certified Financial Planner. She knows that owning pets isn't necessarily the best financial decision; her dog and two cats would argue this point.