The Capital One Quicksilver Cash Rewards Credit Card offers great value, but you’ll need a plan to reap all the benefits.
With a $0 annual fee, you can start earning extra value for your spending right away. But it still pays off to know all the card’s features, even with no annual fee to earn back.
- Earn the sign-up bonus
- Decide how to divide your spending
- Choose how to redeem your rewards
- Consider the 0% intro offer for big purchases
1. Earn the sign-up bonus
The best way to maximize the value of the Capital One Quicksilver Cash Rewards Credit Card is by qualifying for the sign-up bonus.
The current offer is a $200 bonus when you spend $500 on purchases within 3 months of the date your account opens, but your offer might have been different depending on when you applied.
2. Decide how to divide your spending
The Capital One Quicksilver Cash Rewards Credit Card offers a straightforward 1.5% cash back on all eligible purchases (plus 5% cash back on Capital One Entertainment purchases and on hotels, vacation rentals and rental cars booked through Capital One Travel).
It’s possible that you’ve already decided to simplify your spending and use this card for all purchases. But if you have other rewards cards, it’s worth considering when to use the Capital One Quicksilver Cash Rewards Credit Card and when to use another card that earns a higher rate in certain categories.
For instance, if you have another card that earns 3% back on dining purchases, it’s likely not worth using the Capital One Quicksilver Cash Rewards Credit Card in those situations.
3. Choose how to redeem your rewards
You’ll earn cash back from the Capital One Quicksilver Cash Rewards Credit Card, but you have several options on how to receive those rewards.
Capital One can issue your cash back as either a statement credit to your account or as a check. You can also choose to receive your rewards automatically, either at a set time each calendar year or when your balance has reached a certain threshold.
Capital One offers other options for redeeming rewards, including gift cards and toward PayPal or Amazon.com purchases, but these options might provide less value than you’d get from cash back.
4. Consider the 0% intro offer for big purchases
If you’re planning to make a big purchase and need time to pay it off, the Capital One Quicksilver Cash Rewards Credit Card could help you save money on potential interest charges.
The card offers a 0% intro APR on purchases and balance transfers for the first 15 months after your account opens. After the intro period ends, you’ll pay a variable APR for both purchases and balance transfers of 18.49% - 28.49%.
You’ll also pay a balance transfer fee of 3% for the first 15 months; 4% at a promotional APR that Capital One may offer you at any other time.
While the balance transfer offer could be helpful if you’re carrying debt on other cards, we recommend that cardholders looking to maximize rewards stick to the 0% intro APR offer for new purchases.
In general, it’s a good idea to avoid using the same card for both new purchases and managing existing debt. Juggling both balances can get complicated, and you could end up in more debt than when you started.
Next steps
Your Capital One Quicksilver Cash Rewards Credit Card comes with other benefits, like extended warranty protection on card purchases and Hertz Five Star® Status, but the perks we’ve outlined are the most likely to help you find value early in your card membership.
Once you start using your card more often, you might find gaps you’d like to fill with another card. For example, if you’re looking for a higher rewards rate on gas or groceries, it may be worth seeking out another card with strong rewards in those categories.