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Capital One QuickSilver Rewards Credit Card for Students Review

The Capital One Quicksilver Rewards for Students card is a cash back credit card designed especially for college students . An ideal spending aid for younger people (and lifelong learners) with fair credit, it is appropriate for anyone attending or planning to attend a four-year institution, community college, or other qualified institution of higher education.

Quicksilver Rewards for Students has a fixed rate of cash back (unlimited return of 1.5% on every purchase, every day) and no annual or foreign transaction fees. Capital One reports card usage and payment activity to all three major credit reporting agencies, giving Quicksilver Rewards for Students cardholders a golden opportunity to build credit over time with responsible use. and timely payments.

Quicksilver Rewards for Students has a lot in common with the Capital One Quicksilver Cash Rewards flagship credit card , which has stricter credit standards. It also shares a brand name with the Capital One QuicksilverOne Rewards credit card , which is marketed to general audiences (not just students) with regular or average credit.

Key features

The Capital One Quicksilver Rewards for Students card has a simple cash back rewards program, relaxed subscription requirements, and a few other benefits worth mentioning.

Earning cash back rewards

The Capital One Quicksilver Rewards for Students card earns 1.5% cash back on all eligible purchases, every day. There is no limit to how much you can earn over time.

Redeem cash back rewards

You can redeem your accumulated cash back rewards for:

  • A general status credit to your account balance
  • A directed statement credit applied to specific past purchases
  • A paper check mailed to your registered address
  • Credit for eligible purchases made with PayPal
  • Gift cards offered by participating merchant partners

You can redeem for any amount and at any time.

Additional benefits and advantages of the card

The Capital One Quicksilver Rewards for Students card has some additional benefits that are worth mentioning:

  • Extended warranties on eligible purchases with existing manufacturer warranties
  • Complimentary travel accident insurance, subject to policy limits and exclusions
  • A card lock feature that protects your account against fraud.
  • Randomly generated virtual card numbers ensuring you don’t have to give your real card number to random online merchants
  • Complimentary access to Capital One Shopping, a browser add-on that can help you find a lower price when shopping online
  • Free 24/7 concierge service when you shop, dine, or travel
  • 24/7 travel assistance and emergency cash advance service in case your card is lost or stolen
  • Free periodic credit report alerts (for events such as an increase or decrease in your credit score) on your Experian or TransUnion credit report

These benefits may be subject to terms and limitations and are subject to change at Capital One’s discretion.

Important fees

Quicksilver Rewards for Students does not charge an annual fee. There is no charge for foreign transactions, including transactions made at foreign points of sale and online purchases made with merchants located outside of the United States. See the terms and conditions for information on balance transfer fees and cash advance fees.

Credit required

The Capital One Quicksilver Rewards for Students card is appropriate for students and prospective students with fair credit or better. It is not suitable for students with poor or limited credit, or for students new to credit who do not have credit scores.

This card offers modest lines of credit for applicants. You may be able to request a credit line increase after proving a history of prompt payment and responsible card usage.

Advantage

The Capital One Quicksilver Rewards for Students card has a few key advantages over other entry-level student credit cards and cash-back cards. They include a simple and relatively generous rewards program, low card fees, and relaxed subscription.

  1. Solid rate of return on all eligible purchases . The Capital One Quicksilver Rewards for Students card has a simple rewards scheme: a 1.5% cash back rewards rate on all eligible purchases, every day, with no limits on earning potential or rotating bonus categories from the to worry about. This is not the most generous cash back program out there, but it is above average for a student credit card.
  2. No foreign transaction fees or annual fee . Quicksilver Rewards for Students does not charge an annual fee or foreign transaction fees. These are key benefits for budget-conscious students who don’t want to pay to keep the card and who plan to study abroad or shop with international merchants while in college.
  3. Open to applicants with less than perfect credit . Quicksilver Rewards for Students is appropriate for applicants with fair credit scores. You don’t need to have perfect (or even good) credit to apply for this card.
  4. Good lineup of fringe benefits . Quicksilver Rewards for Students has a few add-on benefits, including extended warranties on eligible purchases, basic traveler protections, and fraud protection measures, such as a convenient card lockout feature. These may not be the deciding factor in your decision to apply for this card, they certainly don’t hurt.

Disadvantages

Although it is one of the best credit cards for students, the Capital One Quicksilver Rewards for Students card is not perfect. Its downsides include a missing early spend bonus, no introductory 0% APR promotion on purchases or balance transfers, and no bonus cash back categories.

  1. No prepayment bonus (registration bonus) . Capital One Quicksilver Rewards for Students does not offer an early spending bonus (also known as a sign-up bonus) for new cardholders. There is no way to earn rewards above the fixed rate baseline for your first few months here.
  2. No introductory APR promotion . You also won’t find a Quicksilver Rewards for Students introductory APR promotion. This is a drawback relative to some other Capital One credit cards and certainly other student credit cards that waive interest on purchases or balance transfers for new cardholders.
  3. There is no way to earn cash above the 1.5% rate . You cannot earn rewards faster than this card’s 1.5% base rewards fixed rate allows. Sure, that’s not a bad foundation for an entry-level student credit card, but it’s also not up to the standards of premium cash-back credit cards that offer 5% cash-back or more on eligible purchases.
  4. It is not appropriate for new applicants for credit . Quicksilver Rewards for Students does not require excellent or even good credit, but it does require some credit history. This is a drawback for applicants who have no credit history to point to, including those who have been unable to build credit without a credit card and international students looking for a US-based payment solution for the first time. 

Final word

The Capital One Quicksilver Rewards for Students card is one of the best student credit cards on the market right now. With a fixed cash-back rate that’s right where an entry-level card should be, no annual fee, and a relaxed underwriting process, it has the potential to be a real asset for many college students.     

Are Quicksilver Student Rewards Perfect? Far from there. It is not suitable for applicants with bad credit scores or no credit score at all, which excludes many young people who have not had the opportunity to accumulate credit as minors and also the majority of international students.

And its added benefits are not specially designed with students in mind, as is the case with some more innovative cards in this niche. You won’t find a free or discounted Amazon Prime Student subscription or rewards on purchasing streaming services here, for example.

Before deciding to apply for Quicksilver Rewards for Students, make sure it is the one that best suits your needs. After all, this is a card that you hope will serve you well for the next four years, or as long as you have left on your journey as a student.

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