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Capital One Quicksilver Rewards for Good Credit Card Review

Dayana Yochim

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

August 22, 2023

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.

Zero sign-up incentives. A middling 1.5% cashback rate. It’s the rewards card equivalent of a loveless marriage. That's what's on offer if you've got some baggage in your credit history.

This is the Quicksilver Rewards card’s less attractive suitor for those with “good” — but not “excellent” — credit. So much for being wooed. “Good” doesn’t get you a sign-up bonus or a 0% APR grace period on new purchases. You get 1.5% cashback on purchases, and thazzit. At least there’s no rewards spending cap, but your goal should be to improve your credit enough to eventually graduate to a rewardier card.

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

Capital One Quicksilver Rewards for Good Credit Logo
Cashback Per Year
$...
Annual Fee
$0
Welcome Bonus
N/A
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

  • No rewards bonus categories means limited upside
  • No welcome bonus for new cardmembers
  • No intro APR on purchases or balance transfers
  • 1.5% cashback rate is the starting point for many cards

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 (a.k.a. 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% - - -

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.

Redemption options include getting a statement credit, check, or using rewards to purchase gift cards. And some 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.

Cardholders get complimentary concierge service, 24-7 travel assistance and travel accident insurance.

Oh hey, there’s no annual fee!

What we don't like

There are no bonus rewards categories, meaning the underwhelming 1.5% cashback is the most you’ll get. (Reality check: That’s $15 back per $1,000 in spending. A buck fifty per $100 spend. Keep the champagne corked.)

Where’s the wooing, Capital One? Unlike the regular Quicksilver Rewards card, this version has no sign-up bonus (that’s $200 you’ll never be offered).

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

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!

Roughly 14% of the consumer cashback cards we track in our database charge an annual fee. The average annual fee is $72.60, while the median is $95.

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

Of the more than 60 cashback credit cards in our database, 66% offer a welcome bonus. Currently, the average sign-up bonus on a new cashback card is $210.71, 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.

Read next



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
Dayana Yochim

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
Carolyn Kimball

Carolyn Kimball is Managing Editor for Reink Media Group and the lead editor for content on 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
Andrea Coombes

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.

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