Capital One announced on Wednesday the launch of Capital One Quicksilver, a cash-back credit card that offers users the ability to redeem rewards without the restrictions typically placed on rewards cards.
Cardholders are able to earn unlimited 1.5 percent cash back on every purchase, and qualified customers with excellent credit will also be able to earn a one-time $100 bonus after they spend $500 within the first three months.
“A flat rate of 1.5% earn rate on all purchases from this new Quicksilver card is a very compelling value proposition,” Ben Woolsey, director of consumer research at creditcards.com, said. “Combined with no category sign-up requirements and no foreign exchange fees, this should make Quicksilver among the most straightforward and best cash back card options for consumers.”
The Quicksilver card has no limits to the amount of cash back rewards, no minimums to redeem cash back rewards, no reward expiration date and no foreign transaction fees.
When we talk with consumers, we hear over and over how dissatisfied they are with the complex structure of their cash rewards cards,” Mike Wassmer, executive vice president of U.S. cards at Capital One, said. “What we’ve found is that people want a card that offers rich cash back rewards without having to keep up with where they spend and doesn’t limit how much cash back they earn. We are proud to introduce the Quicksilver card, a straightforward way to earn unlimited cash back.”