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New Credit Card: Capital One Quicksilver

We liked the Capital One Cash credit card when it was introduced a couple of years ago. (And who can forget those Jimmy Fallon commercials?)

It offered a simple, straightforward rewards program without categories or maximum rewards.

We like the card’s successor even more.

Capital One Quicksilver pays 1.5% cash back on all purchases. There is no reward cap.

As far as no-hassle rewards programs go, this is one of the best available.

Now, if you’re organized enough to manage a card with rotating reward categories, you might earn more cash over time with either the Chase Freedom or Discover It cards. And if you have big grocery or fuel bills, American Express Blue Cash line of credit cards might be the answer.

All of these cards offer a higher percentage reward but restrict how much (or when) you can earn.

Quicksilver is for the person who wants no hoops to jump through.

It’s the simplicity that makes this card better than its predecessor. Capital One Cash offered 1% cash back on all purchases and an annual 50% bonus on what you earned.

So you had to wait to earn the full 1.5% cash back.

You earn your reward right away with Quicksilver.

Here’s a look at the credit card details:

APR 0% until July 2014; 12.9%-20.9% variable thereafter.
National Average APR 14.96% (source: CreditCards.com)
Annual Fee None
Rewards 1.5% cash back on all purchases; $100 bonus once you spend $500 in first three months.
Verdict A solid, no-frills rewards card.

Like all Capital One credit cards, this one charges no foreign transaction fees, which makes this a good option for travel as well.

You’ll also pay 0% on balance transfers through July 2014. You’ll pay a 3% transfer fee at the time of the transaction.

This card is for borrowers with very good credit.

Capital One offers a similar card – QuicksilverOne – for borrowers with average credit. The details make this card not nearly as attractive.

First, there’s the annual fee: $39.

The other big differences: There’s no signup bonus, the 0% APR period ends in April 2014, the standard interest rate is 19.8% and balance transfers are charged 19.8% APR right away.

Compare this credit card with the cash back credit card offers in our database.

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