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Are you tired of trying to figure out all the various bonus categories on different credit cards? Perhaps you find that you never really spend much in those categories. Or maybe you don’t care about points because you rarely travel or would rather not bother with exchanging the points for gift cards or merchandise. The Capital One® Quicksilver® Cash Rewards Credit Card is great for those who want no-fuss cash rewards. (See also: Best Cash Back Credit Cards)
Why We Like This Card
$150 one-time cash bonus offer Unlimited 1.5% cash back on every purchase
How This Card Works
This card awards a flat rate of unlimited 1.5% cash back on every purchase. The Quicksilver rewards program allows redemption at any time, without minimum requirements.
Bonus: One-time $150 cash bonus after you spend $500 on purchases within 3 months from account opening.
You can set up automatic redemption which redeems your cash back whenever you reach the threshold you designate. There are also opportunities to donate your cash back through Capital One’s Giving Site. You can earn an unlimited amount of cash back, which does not expire for the life of the account.
Valuable bonus. The spend requirement of $500 within three months is not only lower than most offers, but the $150 cash bonus you earn is particularly valuable especially considering there is no annual fee. This is one of the best cash bonuses offered by rewards credit cards without annual card fees.
Simple rewards program. One of the best features of this rewards program is its simplicity in earning and redeeming. There are no specific purchase categories to manage, nor do you have to sign up for categories that rotate quarterly. Every purchase made with the card earns a flat rate cash back. Redeeming is just as simple.
No foreign transaction fee. Having a card without foreign transaction fees is especially beneficial if you travel abroad frequently and can help save money on foreign transactions. Furthermore, most rewards cards that offer zero foreign transaction fees often charge annual fees of at least $50 per year.
Not the highest rate of rewards. Although the rewards program is simple and straightforward, the cash back amount is not the highest rate available. If the majority of your spending falls within a particular category, you can earn more with rewards cards that provide as much as 5% cash back for those purchases.
Who This Card Is Best For
This card is best for consumers whose spending varies and may not always fall within a particular category. Because of this, you can benefit more from a credit card with a simple, flat rate rewards program, than with a card that focuses on a couple categories or rotating categories. This card is also particularly ideal if you frequently travel abroad because it is one of the most economical cards available without a foreign transaction fee.