Building credit is critical, but qualifying for a credit card can be challenging when you’re just starting out. Luckily, college students have an edge: you may be eligible for a student credit card like the Capital One Quicksilver Student Cash Rewards Credit Card. These cards are easier to qualify for than traditional cards, and the Quicksilver Student Cash Rewards card even offers valuable rewards.
The Capital One Quicksilver Student Cash Rewards card can be useful for college students looking for a basic card for emergencies or recurring expenses.
Capital One Quicksilver Student Cash Rewards Credit Card
Annual fee
The Quicksilver Student Cash Rewards card doesn’t have an ; that’s a helpful perk for college students on tight budgets.
Welcome offer
New cardmembers can qualify for a $50 bonus if they spend at least $100 on new purchases within three months of opening an account. That’s a low spending requirement; you could easily reach that spending requirement by using your card to purchase textbooks or other supplies.
Intro offer
The Capital One Quicksilver Student Cash Rewards card does not offer an introductory APR for new purchases or balance transfers.
Rewards rate
Instead of having to keep track of rotating bonus categories or different point values, the Quicksilver Student Cash Rewards card has a simple rewards structure:
-
Earn 1.5% cash back on all purchases
-
Through November 14, 2024, Quicksilver Student cardholders will earn 10% cash back on qualifying purchases from Uber and Uber Eats.
How to earn rewards
The Capital One Quicksilver Student Cash Rewards card is a simple rewards credit card for busy college students. You’ll earn a flat 1.5% cash back on all purchases, so you can earn rewards on necessary purchases like textbooks or car insurance.
According to The College Board, students at four-year colleges and universities spent an average of $1,250 per year on textbooks and supplies. If you used your Quicksilver Student Cash Rewards card for that full amount, you’d earn $18.75 in cash back rewards.
For a limited time, you can earn 10% cash back on Uber Eats orders and Uber rides, so using your card on those transactions through November 14, 2024, can help you earn added cash back.
How to redeem rewards
Cardmembers can redeem their cash back rewards in the following ways:
-
Statement credits: When you redeem your cash back for a statement credit, it reduces your credit card balance. However, statement credits don’t fulfill minimum payment requirements, so you’ll still have to make a monthly payment.
-
Apply to purchases: You can use your rewards to cover the cost of a recent purchase.
-
Gift cards: You can redeem your rewards for gift cards from major retailers and restaurant chains. Occasionally, some companies will offer extra bonuses or discounts, so you can get more value for your cash back. For example, you may be able to get a $25 gift card with just $10 of cash back rewards.
Additional benefits
When it comes to added benefits, student credit card perks tend to be slim. But that’s not the case with the Quicksilver Student Cash Rewards card; its benefits are surprisingly extensive:
-
24-hour travel assistance: If your card is lost or stolen while traveling, you can get an emergency replacement card and a cash advance to tide you over until the new card arrives.
-
Capital One Dining: As a Capital One cardholder, you can take advantage of Capital One Dining. You get exclusive access to restaurant reservations and ticket sales.
-
Capital One Shopping: The Capital One Shopping tool automatically applies coupon codes to your orders from favorite retailers.
-
Capital One Travel: You can book travel arrangements through Capital One Travel with your card, including airline tickets and hotel accommodations.
-
Complimentary Concierge: If you need help securing a reservation for your parents’ anniversary dinner or want to get tickets to a concert near your campus, the Capital One concierge line can assist you.
-
Extended warranty protection: When you purchase a qualifying item with your credit card, such as a new laptop for class, your card will automatically extend the manufacturer’s warranty.
-
Travel accident insurance: Use your card to book your fares and you’ll automatically be covered by travel accident insurance, a significant benefit if you plan to study abroad or visit classmates overseas.
Who is the Capital One Quicksilver Student Cash Rewards Card best for?
The Quicksilver Student Cash Rewards card is best for college students with limited credit histories who want a basic rewards card. It allows you to earn a flat cash-back rate on routine purchases, like books and streaming subscriptions. You can build credit by making your payments on time and using your card responsibly.
Capital One Quicksilver Student Cash Rewards card benefits
-
Preapproval tool available: Capital One has a preapproval tool you can use to check your eligibility for the card without affecting your credit. The tool gauges your eligibility with a soft credit check, which doesn’t hurt your credit score.
-
Simple rewards: Some cards have complicated rewards structures, but the Quicksilver Student Cash Rewards card is simple. You’ll earn a basic 1.5% cash back on every purchase, making it a good choice if you’re new to credit card rewards.
-
No annual fee or foreign transaction fee: The card doesn’t charge annual fees or foreign transactions fees, so it’s helpful if you plan on studying abroad.
Capital One Quicksilver Student Cash Rewards card potential drawbacks
-
Low new cardmember bonus: Compared to some other , the Quicksilver Student Cash Rewards card’s new cardmember bonus is relatively low.
-
No introductory APR: Unlike other student credit cards, the Quicksilver Student Cash Rewards card doesn’t offer a promotional APR for purchases or balance transfers. As a result, the regular APR—which can be well into the double digits—applies to your balance.
-
High late payment fee: Some student credit cards waive the first late payment fee as you adjust to using a credit card, but the Capital One Quicksilver Student Cash Rewards card isn’t as forgiving. The fee can be as high as $40, and it applies to the very first late payment.
How to make a Capital One Quicksilver Student Cash Rewards payment
With Capital One, you can make a payment online, through the Capital One mobile app, by calling customer service or by mailing a check:
Capital One
Attn: Payment Processing
PO Box 71083
Charlotte, NC 28272-1083
Capital One Quicksilver Student Cash Rewards customer service info
Alternative cards to consider
If the Capital One Quicksilver Student Cash Rewards card isn’t the right card for you, one of these alternative options may be a better fit:
Capital One SavorOne Student Cash Rewards Credit Card
Why we like it: The SavorOne Student Cash Rewards card may be a better option than the Quicksilver Student Cash Rewards card if you want to maximize your rewards. Rather than a flat rewards rate on all purchases, this card allows you to earn 3% cash back on dining, entertainment, popular streaming services, and grocery store purchases. You’ll earn 1% cash back on all other purchases, and there’s no annual fee.
OpenSky® Secured Visa® Credit Card
Why we like it: The OpenSky Secured Visa may be a useful alternative if you aren’t eligible for a student credit card. As a secured card, you must put down cash as a security deposit, which acts as your credit limit. As you manage your card and make payments, the OpenSky Secured Visa can help you establish your credit and, over time, you may qualify for an unsecured OpenSky Unsecured Gold Card.
Capital One Platinum Secured Credit Card
Why we like it: If you aren’t ready or eligible for an unsecured credit card, the Capital One Platinum Secured Credit Card is a good option. It’s a secured card, so it’s helpful for those with no credit or troubled credit histories. The card has no annual fee, and you are automatically considered for a higher credit limit in as little as six months.
Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information. This site doesn’t include all currently available offers.