The Capital One Quicksilver Credit Card is a solid choice for servicemembers who don’t spend a lot in any one budget category or prefer a single, simple-to-understand rewards rate instead of multiple rates.
It’s also a good option if you’re looking for a long introductory 0% APR promotion on purchases and balance transfers, a card with no annual fee, and an easy-to-hit welcome bonus.
With the Capital One Quicksilver Cash Rewards credit card, you get a solid offering that provides you with steady rewards no matter what you purchase.
Capital One Quicksilver Cash Rewards Credit Card Overview
The Capital One Quicksilver Cash Rewards Card offers users a lot of versatility with a competitive 1.5% cash back rate on all purchases. You can also earn a generous 5% reward when booking travel through Capital One’s travel portal.
There’s also a good introductory offer with 0% APR for purchases and balance transfers for the first 15 months (learn more about the top balance transfer cards). After that, the APR is a variable 19.24-29.94%.
The 0% introductory APR means servicemembers can make minimum payments toward an outstanding balance each month, and the unpaid remainder will accrue without interest. This allows you to pay over time without incurring finance charges during the promotional period.
The $200 intro bonus kicks in when you reach a $500 spending level in the first three months. It’s not the biggest bonus, but that’s offset by a low hurdle you’ll have to clear to earn the reward.
The Quicksilver Card also offers several other 24/7 travel and shopping perks. Cardholders can be issued virtual credit card numbers through the Eno assistant app to guard real card data, and concierge services, extended warranty protection, and travel accident insurance keep you covered when you’re on the road
How Military Members Can Benefit From Using the Capital One Quicksilver Card
Under the Military Lending Act, service members receive waived annual and other fees (except late fees and insufficient fund fees). In addition, the Military Annual Percentage Rate (MAPR) must not exceed 36%, and any introductory promotional interest rates must be honored.
That’s not a problem for the Quicksilver Card, but it is good to know no matter which card military members carry.
One of the attractive features of the Quicksilver card for servicemembers is no foreign transaction fee. That’s a great perk for those stationed outside the U.S. Normally, those fees can run as high as 3%, which can add up to huge savings when the card is used regularly overseas.
You can also manage your account anywhere, 24/7, with the Capital One mobile app. That means you can pay your bill, view your balance and transactions and stay on top of your credit for free with CreditWise when it’s convenient for you, anywhere in the world.
Capital One Quicksilver Benefits & Perks
Servicemembers can enjoy these perks and benefits when they are approved for a Quicksilver Card:
- Flat 1.5% cash back rewards on all purchases with no annual limit. Cash back does not expire for the life of the account.
- 5% cash back on travel and related services when booked through Capital One’s travel site.
- 0% annual fee.
- 0% foreign transaction fees.
- 15-month 0% APR introductory period for purchases and balance transfers.
- Earn a one-time $200 cash bonus after you spend $500 on purchases within three months from account opening.
- Extended warranty protection automatically doubles the original manufacturer’s/store’s warranty on eligible purchases when you use your card to pay for a product.
- Complimentary concierge and roadside assistance 24/ from home and when you travel.
- Fraud coverage includes $0 fraud liability if your card is lost or stolen.
- Travel accident insurance for a covered loss at no extra charge when you use your credit card to purchase your fare.
- Up to 6 months of complimentary Uber One membership statement credits through 11/14/2024
- Virtual credit card numbers can be issued through the Eno assistant app to guard real card data while shopping online.
Capital One Quicksilver Credit Limit
The Capital One Quicksilver credit limit depends on your income, creditworthiness, and payment history. Capital One doesn’t publicly state minimum or maximum credit limits, but it’s safe to assume, based on your personal finances, that you’ll qualify for as little as $750 and up to $10,000 or more after approval.
Also, once you establish a payment track record with Capital One, you can approach them in 6-12 months to see if you qualify for a higher limit.
Capital One Quicksilver Card Rates and Fees
The introductory purchase APR is 0% on purchases for the first 15 months. After that, the regular APR is a variable 19.24% – 29.24%. The introductory APR is also 0% on balance transfers for the first 15 months.
- $0 annual fee.
- 3% balance transfer fee.
- 3% cash advance fee with a $3 minimum.
- $0 foreign purchase transaction fee.
- $40 maximum late fee. There is no maximum penalty late APR fee.
- 25-day grace period on new purchases. No interest is charged when paid in full.
The minimum payment is the greater amount of $25 or 1% of the balance plus interest, late fees, and past-due amounts. If the full balance is less than $25, the minimum payment equals the full balance.
Earning Cash Rewards with the Capital One Quicksilver Card
The Quicksilver Card is an excellent choice for servicemembers when many of your expenses fall outside the usual bonus categories, such as superstore purchases, a variety of online shopping retailers, and bill payments.
You get unlimited 1.5% cash back on all purchases, which is an attractive perk if you regularly spend beyond bonus categories’ reward spending caps.
Cardholders also get 5% cash back on hotels and rental cars booked through Capital One Travel. Capital One keeps it simple with no featured purchase categories or seasonal earnings rates to track.
There are no annual earning limits or expiration dates as long as the account is open.
New cardholders can earn a $200 cash bonus after spending $500 on purchases within three months of opening an account.
Redeeming Cash Rewards with the Capital One Quicksilver Card
Servicemembers can redeem cash back rewards with a check or receive a statement credit. The 1.5% cash back rate means every dollar spent nets 1.5 cents.
Cash back can also cover recent card purchases, online purchases at checkout on Amazon.com and PayPal, or gift cards. Cardholders can also redeem rewards for travel through CapitalOneTravel.com.
One added benefit is that servicemembers can receive cash back automatically at a set time each year or with a certain cash value.
Capital One cash back also maintains a consistent value across all redemption options. That means when shopping and redeeming points on Amazon or PayPal, the cash back keeps its full value.
Applying for the Quicksilver Cash Rewards Credit Card
The Capital One Quicksilver card requires good to excellent credit, defined as a 670 to 850 FICO score or a 661 to 850 VantageScore.
Applicants must also have a Social Security number, a steady income, and be at least 18 years old.
Your credit score is an important factor, but several others will impact your chances of approval, including income, existing debt load, number of open accounts, recent credit inquiries, employment status, housing status, and other related factors.
Capital One Quicksilver Cash Rewards Credit Card vs. Other Cards for Military Members
Here’s how the Capital One Quicksilver Cash Card stacks up against other similar cards.
|Capital One Quicksilver Cash Rewards Card||Citi Double Cash Card||Wells Fargo Active Cash Card||Evergreen by FNBO Credit Card|
|$0 annual fee||$0 annual fee||$0 annual fee||$0 annual fee|
|670 and up FICO score required for approval||670 and up FICO score required for approval||670 and up FICO score required for approval||670 and up FICO score required for approval|
|1.5% cash back on all purchases, 5% on travel and rental car purchases, $200 intro welcome offer, 15 month 0% APR intro period||Earn unlimited 2% cash back on all purchases, 18-month, zero-interest intro balance transfer APR||2% cash back on all net purchases, 0% intro APR for 15 months, $200 cash rewards bonus when you spend $1,000 in the first 3 months||Unlimited 2% cash back on every purchase, $200 cash bonus when you spend $1,000 within the first 3 billing cycles, 5% balance transfer fee|
|Variable 19.24 – 29.24% APR for purchases after intro period||Variable 18.24 – 28.24% APR after intro period||Variable 19.24%, 24.24% or 29.24% after intro period||Variable 18.74% and 27.74% APR|
|Learn More||Learn More||Learn More||Learn More|
Is Capital One Quicksilver Card Worth It?
The Capital One Quicksilver Card is a solid choice for servicemembers, depending on how they use credit in their daily lives. It’s a simple and competitive cash back card with a decent introductory offer and a 0% intro APR that’s in line with other similar cards.
There are also no annual or foreign transaction fees which is a big plus for servicemembers on a budget.
As long as you pay your balance off each month and avoid relatively high-interest rates on outstanding balances, this can be a solid addition to your wallet.
The Military Wallet has partnered with CardRatings for our coverage of credit card products. The Military Wallet and CardRatings may receive a commission from card issuers.