The Capital One Quicksilver card is a straight forward set it and forget it cash back rewards card. Not only do you earn on every purchase you make, but you can redeem your rewards at any time on any thing you like. That makes it an easy to use and easy to earn card for every day expenses, and an option for expats or travelers looking to have a simple to manage rewards credit card.
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Overview – Easy to Use Cash Back Credit Card for Anyone
I’m a big fan of my Capital One 360 checking account and the credit cards I have with them. While I actually like my SavorOne card a bit more (see my review of it here) since it earns extra on dining, entertainment, and groceries, the Quicksilver is an easy to use cash back card and depending on your spending, it may be an even better option.
By the way, if you are looking for a great online bank account and you are a US citizen and have maintained a US mailing address, the 360 is great. You can read my review here or see if you qualify for a sign up bonus. It of course also pairs well with their credit cards like the Quicksilver.
There are certainly travel specific reward cards and cards like the SavorOne that earn better rewards in certain categories of spending, but the Quicksilver earns a flat rate, making it an easy to use way to get cash back on all your daily purchases.
Capital One Quicksilver – Breakdown
- Intended for customers with higher credit ratings.
- Flat 1.5% cash back rewards on all purchases.
- Unlimited Rewards.
What I Like About My Quicksilver Card
No Foreign Transaction Fees
For me, living abroad most of the year, this is the major selling point on all of Capital One’s credit cards, and one of the reasons it makes for a good rewards credit card for expats and travelers.
Lots of straight up cash back cards similar to the Quicksilver from other banks do have foreign transaction fees. In fact in my shopping around the Quicksilver is the only one I could find that didn’t have foreign transaction fees or an annual fee.
You get 1.5% cash back on everything. There’s no special categories you have to register for. You don’t have to think if it would be best to use this card or that card depending on the category of the purchase.
You just get 1.5% on everything, all the time.
On top of that, the rewards are also very easy to redeem. You can redeem them to pay down the balance (in my opinion the easiest and what I always do).
But you can also redeem your rewards for Amazon gift cards, get them in a check, or have them deposited into another Capital One Account, whether yours or someone else’s.
Great Introductory Offer
When I got my card, they offered me 8 months with 0% APR. Living abroad, that was nice because I was able to do one big transfer to pay it off at the end without having to pay wire transfer fees every month.
As of this publishing in April 2020, they are actually offering an even better deal right now, with 15 months 0% APR. See that offer here.
That’s a long time to not have to pay any interest. Of course, it’s important to be careful and not overextend yourself, but if you are disciplined about it and don’t spend more than you actually have, you may even be able to earn a bit of investing the money elsewhere before paying it off after the intro period, adding to the 1.5% you’ll get anyway.
It can of course also be helpful if you need to make a big purchase now and you can pay it off interest free over a long time.
You can also get a $150 cash bonus if you spend $500 or more in the first 3 months after opening the account. Again, you shouldn’t spend more than you have or can pay back, but I would imagine most people spend that within 3 months on every day expenses, so if you just use the Quicksilver card, you’ll get a free $150, in addition to the 1.5% you’ll be getting anyway.
As noted above, for expats or frequent travelers, you may be able to earn better with another card, like the SavorOne or a traditional travel rewards card.
For example, in my case, I don’t have a car and can’t use a non Colombian credit card to pay my utilities or rent, so most of my discretionary spending is conducive to using the SavorOne and the extra rewards on dining and groceries.
However, if you can use a card for the majority of your daily expenses, the Quicksilver is a great option. You’ll earn the same whether you are filling up your gas tank, paying a hotel reservation, or paying for dinner.
So, in conclusion, you really can’t beat the ease of use and accumulating your rewards the Quicksilver offers. While you may be able to earn a bit more with other cards, the Quicksilver still makes for a great credit card for expats and travelers who want one card they can just use and know they are building up cash back to use on whatever they want.
There you have it, a complete review of the Capital One Quicksilver Credit Card and why it might be a good option for a credit card for expats and travelers. I hope you found it informative and if you do sign up for it, you like it as much as I do.
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