Simplify spending with 1.5% cash back #CashNews.co

For fans of cash back, the Capital One Quicksilver Cash Rewards Credit Card offers both simplicity and a lot of potential value.

All you have to do to earn rewards with the Quicksilver card is use it to make your regular purchases. For many flat cash-back cards like this, a good way to maximize rewards is to use your card like a debit card. Put all your regular spending on the card to earn cash back, then make sure you can pay it off when your balance is due to avoid interest charges.

You won’t earn rewards on credits and returns. Cash advances and balance transfers don’t count as purchases and won’t earn rewards, either.

Related: Here are the best hotel credit cards

As a cash-back card, the primary way to redeem your Quicksilver rewards is for cash. You can choose between a check in the mail, gift cards, and statement credits to your account — or use statement credits to cover individual purchases charged to your card. If you have an upcoming trip, you can even use cash back rewards to book travel through the Capital One Travel portal.

Your rewards don’t expire and there’s no limit to how much cash back you can earn.

While there aren’t many added benefits for this no annual fee cash-back card, you will get a few. These include no foreign transaction fees and access to both Capital One Dining and Capital One Entertainment.

There are a few purchase and travel protections you’ll get too, including warranty protection, travel accident insurance, travel assistance services, and concierge service.

With such a simple rewards structure, a flat cash-back card like the Quicksilver can add value to nearly anyone’s wallet.

Someone who wants one single credit card they can use for any purchase will find this card easy to use and maximize, since every type of purchase earns the same 1.5% back.

But it can be useful for someone who already has other cards, too. If you don’t mind a bit of extra strategizing, you can use it like a catch-all for purchases that don’t fit into your other cards’ bonus categories, and guarantee a minimum 1.5% back on each purchase.

Finally, the Quicksilver is a good long-term option for cardholders looking to pay down debt with a balance transfer. You can use the 15-month 0% intro APR to pay off your debt while establishing the habit of paying off your balance. Then when your debt is paid, continue to get value from the card’s cash back benefits.

This card may not be for you if you’re building credit or don’t already have a solid credit score. Capital One recommends an “excellent” credit rating for Quicksilver applicants, which may require an established credit history. There is a “good credit” version of the card that you may qualify for with a lower score, but it has a higher ongoing APR, no welcome bonus, and no introductory APR offer.

• Simple rewards: A flat 1.5% cash back on every purchase makes it easy to maximize your Quicksilver rewards.

• No annual fee: This card has no annual fee, which means you can start maximizing your cash back right away with no cost — as long as you avoid taking on interest charges.

• 0% intro APR: The Quicksilver may primarily be a cash-back card, but its relatively long 0% APR intro period also makes it a great choice for cardholders who have a large upcoming purchase they want time to pay off, or who are looking to eliminate existing debt balances.

• Other cash-back cards may offer better rewards rates: 1.5% cash back is a great baseline for earning rewards on every purchase, but there are other flat cash-back cards that offer up to 2% on each dollar you spend.

• Few added benefits: Beyond cash rewards, you won’t get many added benefits with this card. If benefits are important to you, consider rewards cards with an annual fee or travel rewards cards, which usually come with extra perks.

• Best for excellent credit score: You’re most likely to get approved for this card if you have excellent credit. Other versions of the Quicksilver — as well as secured or student cards — may be better suited for those who are still building credit.

Capital One Quicksilver vs. Capital One Platinum: Which card has the best benefits?

The Capital One Quicksilver Cash Rewards card is a Mastercard credit card. Because Mastercard is one of the most widely-accepted payment networks, you can expect that it’ll be accepted with any in-person or online business that accepts credit card payments.

Quicksilver card payments are due 25 days after the end of each billing cycle. As long as you pay by this due date, you won’t accrue interest on new purchases. Here are your options for making your payment:

• Online payment: Set up your online account and link a bank account (payment account) which you’ll use to make your payments. You can also schedule payments or set up autopay.

• Mobile payment: When you sign into your account through the Capital One mobile app, you can make a payment from your payment account via app.

• In-person at Capital One branches and ATMs

• Phone: You may be able to pay by phone; Capital One recommends calling the number on your card statement

• Mail: Mail your check (with your Capital One credit card account number) to the address below:
  Capital One
  Attn: Payment Processing
  PO Box 71087
  Charlotte, NC 28272-1087

• Phone number for credit card customer service: 1-800-CAPITAL (227-4825)

• For fast service, Capital One recommends its chat service Eno, which is available 24/7

• Capital One Quicksilver login page

With a flat 1.5% cash back on every purchase you make, it’s easy to maximize Quicksilver rewards without overthinking where you’ll get the most return on the money you spend.

It may not get you the best rewards possible on every single purchase, but it can help fill any rewards gaps. If your current credit card rewards your most frequent spending — maybe a co-branded airline card for when you travel, or a cash-back card with great rewards on groceries for your supermarket spending — it probably offers a maximum 1% back on purchases that fall outside of ongoing bonus rewards categories.

But if you have a Capital One Quicksilver, you can guarantee you’ll get at least 1.5% back on every purchase.

For example, say you have a Blue Cash Preferred® Card from American Express that you already use frequently. That card earns 6% cash back at U.S. supermarkets (up to $6,000 spent per year, then 1%; see rates and fees), 6% on select U.S. streaming, 3% on transit, and 3% at U.S. gas stations. Everything else earns 1% cash back (Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout). But if you added the Quicksilver card to your wallet too, you could use it to buy everything outside of those rewards categories — as well as groceries after you meet the annual spending limit — and get at least 1.5% on every purchase, plus more on the Amex card’s bonus category spending.

As long as you don’t mind thinking about which card to use when, this can be a great way to maximize every dollar you spend.

Even without other cards in your wallet, a flat cash-back card like the Quicksilver is still a solid standalone option for simplifying your rewards.

Why we like it: The Blue Cash Everyday is another no-annual-fee cash-back card, but it offers bonus categories to get a higher rewards rate where you spend most. The Blue Cash Everyday also has a competitive intro APR offer on new purchases and balance transfers and comes with a few annual benefits to help you save more each year. Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit on Amazon.com at checkout.

Read our full review of the Amex Blue Cash Everyday Card

Why we like it: If you like having a Capital One card but want a bit more rewards flexibility, consider the Capital One Venture Rewards Credit Card, a $95 annual fee travel card from the issuer. It earns Capital One Miles, which you can redeem for travel through the Capital One portal or for eligible travel expenses charged to your card. The Venture card also comes with some added benefits including a credit for TSA PreCheck or Global Entry, perks on Lifestyle Collection hotel bookings, Five Star status with Hertz, and more.

Read our full review of the Capital One Venture Rewards Card

Why we like it: Though its name and 1.5% cash back rewards are very similar, the QuicksilverOne differs from the Quicksilver in a few important ways. For one, it’s designated for applicants with “fair credit,” meaning you may qualify for this card even if your score isn’t high enough for the regular Quicksilver. You’ll get automatic credit line reviews after six months to determine whether you qualify for a higher credit limit.

This article was edited by Rebecca McCracken

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