How do Capital One Quicksilver rewards work?

Capital One Quicksilver rewards are simple: You get 1.5% cash back on every purchase, with no limit on the amount you can earn, and you can redeem for a statement credit or check at any time. For context, most cash back credit cards give you 1% back as a base rate. And unlike rewards cards with points or miles, you’ll always know exactly how much your Capital One Quicksilver cash back is worth.

So, the Capital One Quicksilver rewards program is generally characterized by a combination of simplicity and top-shelf savings potential. There are a few nuances you should be aware of, though.

Here’s what you need to know about Capital One Quicksilver’s rewards:

• There’s an initial bonus. Spending $500 within 3 months of account opening gets you an extra $200 cash bonus.
• Your cash back doesn’t expire. But you’ll lose it if you close your account or Capital One closes it for you (because you didn’t pay the bill, for example).
• You have redemption options. You can choose to schedule redemption of all your rewards at a certain time of year, or after you’ve earned a certain amount. You can manage all of these choices by logging in to your account at CapitalOne.com. You may also redeem your cash back for previous purchases or gift cards. If you don’t choose to set up automatic redemption, you’ll have to request your cash back through your account. You can do this at any time.
• You might be able to transfer. If you have another Capital One credit card account, it might be possible to transfer your cash back rewards there. But it depends on which card it is.

Overall, I’d definitely say Capital One Quicksilver is one of the best cash back credit cards. And I definitely recommend setting up automatic rewards redemption if you get it.

No cap on rewards, 1.5 - 5% cash back. Oh and you can get it back as statement and check.