Overview
Finance Devil Rating: 4.6 stars out of 5
Rewards Rate: 1.5% – 10% cash back on eligible purchases.
Annual Fee: $0
Intro Offer: Receive $50 as a statement credit when you spend $100 within the first three months.
Regular APR: 19.99% – 29.99% (Variable)
Recommended Credit: Fair to Good (580 – 740)
Capital One Quicksilver Student Cash Rewards Credit Card Overview
For students seeking an uncomplicated way to earn cash back without annual fees or security deposits, the Capital One Quicksilver Student Cash Rewards Credit Card is an appealing choice.
Rewards
- 1.5 percent cash back on all purchases.
- 5 percent cash back on hotels and rental cars booked through Capital One Travel.
- 10 percent cash back on purchases made through Uber & Uber Eats through Nov. 14, 2024.
Welcome Offer
The card provides a standard welcome offer of $50 as a statement credit when you spend $100 within the first three months.
Rates and Fees
- APR: Ranges from 19.99 percent to 29.99 percent.
- Annual Fee: $0
- Foreign Transaction Fee: None
- Cash Advance Fee: 3 percent (minimum $3)
- Late Payment Fee: Up to $40
Credit-building Features
- Monitor your credit profile with the CreditWise® tool, accessible for free to everyone.
- Automatically considered for a higher credit line in as little as six months.
Other Cardholder Perks
- Virtual card numbers enhance security.
- MasterRental® Coverage provides rental car protection.
- Extended warranty coverage applies to eligible items purchased with the card.
Pros and Cons of Quicksilver Student
Pros
- This card’s rewards structure mirrors that of the full-fledged Capital One Quicksilver card, making it accessible to students with fair credit or limited credit history.
- An excellent choice for students who frequently use food delivery and rideshare apps, thanks to limited-time Uber One membership statement credits.
- Light on fees, with no annual fee or foreign transaction fees.
Cons
- It lacks an introductory APR offer, so interest rates apply if you carry a balance.
- The flat rewards rate may not be as rewarding for students who spend extensively in bonus categories.
- Not as lenient as some other student cards that waive your first late payment.
Why Consider the Quicksilver Student Card
The Quicksilver Student Card offers an economical and straightforward way for students to embark on their credit-building journey. It features a competitive flat-rate rewards program, an attainable welcome offer, and a clear path to a higher credit limit and an improved card, all without an annual fee.
Rewards Rate: Easy-to-Track, Flat-Rate Rewards
The Quicksilver Student’s flat-rate rewards structure simplifies the cash back earning process, eliminating the need to keep track of rotating bonus categories. With a flat rate, you earn a consistent amount of rewards on all purchases, ideal for students with busy schedules.
Welcome Offer: Easily Attainable Rewards
While some cards for individuals with good credit necessitate significant spending to earn rewards, the Quicksilver Student’s $50 welcome offer requires only $100 in spending during the initial three months. This lower spending threshold accommodates a student’s budget and offers bonus earnings.
Credit Building: A Clear Path to Enhancement
The Quicksilver Student Card is the student version of a regular credit card for those with good credit. As you work on improving your credit score, you may have the opportunity to upgrade to the full version of this card, granting access to better rates and perks. Furthermore, you might upgrade without having to submit a new application, avoiding another hit to your credit score.
Capital One also automatically considers you for a higher credit line after six months of responsible use and on-time payments. This can reduce your credit utilization ratio, potentially boosting your credit score—a valuable feature for students building credit.
When to Explore Alternative Student Cards
Although the Quicksilver Student Card offers several advantages, some students might find other cards more suitable:
Rates and Fees: No Breaks on Interest or Late Payments
The potential variable interest rate on this card is relatively high, which is common for student cards. However, certain competing student cards provide modest introductory APR offers, helping students save on interest if they can’t pay their balance in full each month. Unfortunately, the Quicksilver Student Card lacks this perk. Coupled with a high interest rate and the absence of an introductory offer, it could become costly quickly. Additionally, the card doesn’t waive your first late payment, which can be a helpful pass for students adapting to financial management. It’s essential to note that late payments, whether with or without a waived fee, can damage your credit.
Other Cardholder Perks: Common Perks That Don’t Stand Out
The cardholder perks specific to students on the Quicksilver Student Card closely resemble those found on most student cards. The most notable perks include extended warranty coverage, price protection, and Capital One’s CreditWise credit monitoring feature. CreditWise is accessible to most consumers, even those without a Capital One account. Extended warranty coverage automatically doubles the length of manufacturer or store warranties on eligible items purchased with the card, while price protection reimburses you for price drops on eligible items bought with the card within 120 days of purchase.
How the Quicksilver Student Compares to Other Student Cards
The Capital One Quicksilver Student Cash Rewards Credit Card stands as one of the top choices for students seeking a card that combines credit-building capabilities with competitive everyday rewards. Designed for individuals with fair or limited credit history, it shares a rewards structure with its parent card.
However, other cards in the same category may offer students a broader range of options and better value when it comes to earning rewards. Let’s explore how the Quicksilver Student Card compares to its counterparts.
Capital One Quicksilver Student Cash Rewards Credit Card
Rating: 4.6 stars out of 5
Annual fee: $0
Intro offer: $50
Rewards rate: 1.5% – 10%
Recommended Credit Score: Fair to Good (580 – 740)
Capital One SavorOne Student Cash Rewards Credit Card
Rating: 4.6 stars out of 5
Annual fee: $0
Intro offer: $50
Rewards rate: 1% – 10%
Recommended Credit Score: Fair to Good (580 – 740)
Discover it® Student Cash Back
Rating: 5 stars out of 5
Annual fee: $0
Intro offer: Cashback Match™
Rewards rate: 1% – 5%
Recommended Credit Score: No Credit History
Quicksilver Student vs. Capital One SavorOne Student Cash Rewards Credit Card
When it comes to choosing a credit card for students, the Quicksilver Student and Discover it Student Cash Back are two popular options. Both cards offer rewards and features tailored to students’ needs, but they have some key differences. Let’s compare the Quicksilver Student and Discover it® Student Cash Back to help you make an informed decision.
Rewards Structure
Quicksilver Student:
- Offers a flat-rate rewards structure.
- Earn 1.5% cash back on all purchases.
- Provides 5% cash back on hotels and rental cars booked through Capital One Travel.
- Offers 10% cash back on purchases made through Uber & Uber Eats through Nov. 14, 2024.
Discover it® Student Cash Back:
- Features a rotating quarterly cash back calendar.
- Earn 5% cash back in categories that change every three months (upon activation, up to the quarterly maximum) such as gas stations, grocery stores, restaurants, Amazon.com, and more.
- Earn 1% cash back on all other purchases.
Introductory Offers
Quicksilver Student:
- Provides an introductory offer of $50 when you spend $100 in the first three months.
Discover it® Student Cash Back:
- Offers an introductory offer called Cashback Match™ where all the cash back earned in the first year is matched.
Credit Score Requirements
Quicksilver Student:
- Recommended for those with fair to good credit scores (580 – 740).
Discover it® Student Cash Back:
- Designed for students with no credit history.
Foreign Transaction Fees
Quicksilver Student:
- No foreign transaction fees, making it suitable for international travel.
Discover it® Student Cash Back:
- It’s essential to be aware that Discover cards are not widely accepted outside of the United States.
Credit-Building Features
Quicksilver Student:
- Offers the opportunity to upgrade to the full version of the card as your credit improves.
- Capital One may automatically consider you for a higher credit line after six months of responsible use.
Discover it® Student Cash Back:
- Provides access to free FICO credit score monitoring.
- Offers a path to graduate to a standard Discover card as you build your credit history.
Quicksilver Student vs. Discover it® Student Cash Back
Rewards Structure
Quicksilver Student:
- Employs a flat-rate rewards structure.
- Earns you 1.5% cash back on all purchases.
- Provides 5% cash back on hotel and rental car bookings through Capital One Travel.
- Offers a limited-time 10% cash back on purchases made through Uber & Uber Eats until Nov. 14, 2024.
Discover it® Student Cash Back:
- Features a rotating quarterly cash back calendar.
- Grants 5% cash back on categories that change every three months (upon activation), up to the quarterly maximum. Categories include gas stations, grocery stores, restaurants, Amazon.com, and more.
- Ensures 1% cash back on all other purchases.
Introductory Offers
Quicksilver Student:
- Presents an introductory offer: Earn $50 when you spend $100 in the first three months.
Discover it® Student Cash Back:
- Excels with its introductory offer called Cashback Match™, where all the cash back earned in the first year is matched.
Credit Score Requirements
Quicksilver Student:
- Ideal for individuals with fair to good credit scores, ranging from 580 to 740.
Discover it® Student Cash Back:
- Tailored for students with no credit history, making it accessible for those starting their credit journey.
Foreign Transaction Fees
Quicksilver Student:
- Travel-friendly with no foreign transaction fees, making it a suitable choice for international trips.
Discover it® Student Cash Back:
- Note that Discover cards may have limited international acceptance, so it’s less suitable for overseas use.
Credit-Building Features
Quicksilver Student:
- Offers the potential to upgrade to the standard version of the card as your credit improves.
- Capital One may automatically consider you for a higher credit limit after six months of responsible card use.
Discover it® Student Cash Back:
- Provides access to free FICO credit score monitoring to help you track your credit progress.
- Offers a path to graduate to a standard Discover card as your credit history develops.
READ ALSO: Capital One SavorOne Student Cash Rewards Credit Card: A Student’s Best Friend
Who is the Quicksilver Student right for?
Busy Students: If you have a hectic schedule and prefer not to keep track of rotating bonus categories, the flat-rate rewards program of the Quicksilver Student Card is ideal. It ensures consistent earnings on all purchases.
Students Studying Abroad: The Quicksilver Student Card has the advantage of no foreign transaction fees, making it an excellent choice for students studying abroad. It also offers enhanced rewards for hotel and rental car bookings through Capital One Travel.
Students Who Won’t Carry Balances: While the card has high APRs and lacks introductory APR offers, it can be a suitable option if you pay your balances in full and on time each month. This responsible usage can positively impact your credit score over time.
Is the Capital One Quicksilver Student Cash Rewards Card worth it?
For students seeking a straightforward way to earn cash back rewards while building credit, the Quicksilver Student Card is a compelling option. It features a competitive flat cash back rate, no annual fee, and a robust set of benefits compared to other cards in its category.
However, the card’s suitability depends on your spending habits. Some competing cards offer at least double the cash back rate in popular student-centric spending categories. If you prefer a card with more flexibility in terms of fees and interest rates, the Quicksilver Student Card might not be the best fit due to its high APR and absence of introductory APR offers.
Is the Capital One Quicksilver Student Cash Rewards card worth it?
How We Rated This Card
Our proprietary card rating system considers various factors when scoring credit cards for students, including cost, APR, credit-building tools, perks, and more.
We analyzed over 50 popular cards designed for students, evaluating each card based on how its key features compared to others in its category.
Here are some of the key factors that contributed to this card’s score:
Cost and APR
The cost of a credit-building card plays a significant role in its overall score. We compare the total cost of each card, including annual fees, account activation fees, monthly fees, and more, against the total cost of other cards in the credit-building category. We also factor in rewards-earning potential by subtracting expected earnings from the sum of fees.
To estimate average earnings, we assume a lower spending threshold ($300 per month or $3,600 per year) to align with credit-builders who start with lower credit limits and primarily focus on small, manageable purchases.
A card’s APR is another crucial factor. Cards with below-average APRs receive higher ratings. While high APRs are common for credit-building cards, lower rates are preferred, as they can help users avoid falling into debt.
Credit-building Features
We assess how easy it is to build credit with each card. Factors include credit limit potential and minimum deposit requirements.
Cards with high starting credit limits or secured cards that offer high credit limits with matching deposits receive higher scores. High credit limits make it easier to maintain low credit utilization, a key factor in building credit.
Perks
We evaluate card benefits based on their relevance to building credit or saving money on everyday spending. Key considerations include rewards programs, access to credit scores or monitoring services, prequalification with a soft credit pull, and the potential to increase credit limits or graduate to unsecured or full-fledged rewards cards.
Cards offering these benefits tend to receive higher scores in our credit-building card rating system.
To Recap
The Capital One Quicksilver Student is a highly-rated credit card designed specifically for students. With no annual fee, it offers a straightforward and easy-to-understand rewards program, earning 1.5% cash back on all purchases. Additionally, students can benefit from a limited-time offer of 10% cash back on purchases made through Uber & Uber Eats until Nov. 14, 2024. The card also provides a welcome offer of $50 when you spend $100 in the first three months.
If you’re a student aiming to effortlessly accumulate cash back rewards while enhancing your credit profile, consider the Capital One Quicksilver Student Cash Rewards Credit Card. It offers a competitive flat-rate cash back program with minimal fees, making it an attractive choice for students. However, take note of its relatively high APR, which may pose a challenge for those carrying a balance.
One of the standout features of this card is its suitability for international travel, as it doesn’t charge foreign transaction fees. Furthermore, for those looking to build their credit history, the Quicksilver Student offers the potential for credit limit increases and even the opportunity to upgrade to the standard version of the card as credit improves.
Overall, the Capital One Quicksilver Student is an excellent choice for students with fair to good credit who want a simple and rewarding credit card with the added benefit of cash back on their everyday spending.
FAQs
Do you need to be a student to apply for the Quicksilver Student card?
Yes, the Quicksilver Student Card is exclusively designed for students. Capital One defines a student as anyone currently enrolled or admitted and planning to enroll in an accredited higher education institution within the next three months. However, you remain eligible to receive rewards and enjoy card benefits post-graduation.
What is the Quicksilver Student card’s credit limit?
Capital One does not specify a minimum starting credit limit for the Quicksilver Student Card. Your credit limit depends on your annual income and overall creditworthiness.
When can you get a credit line increase?
By demonstrating responsible card usage, you can become eligible for a credit line increase in as little as six months with the Capital One Quicksilver Student Card.
What is the minimum credit score for the Capital One Quicksilver Student card?
To maximize your chances of approval, it’s advisable to have
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