Credit Card Review “Capital One Quicksilver” and get Spotify + Hulu Subscription for $4.99/month as a Student

Recently, I applied and was approved for Capital One Quicksilver Credit Card for its cash rewards and no foreign transaction fee’s (Visa card). I have been looking at opening unlimited cash back rewards card where I could get cash-back on any purchase and no foreign transaction fees because my American Express card was not very useful when traveling and was not widely accepted in many countries other than U.S.

About a week later, after I applied and received the card with current ongoing bonus after spending $500 within first three months and get $150 cash bonus which is a generous offer. If you haven’t, check out my post on credit cards I have and use on day-to-day basis. I also share tips and tricks on building your credit history in my other article as a student.

If you are interested in rotating categories like gas, amazon, wholesale clubs, restaurant, etc… and overall the best rated credit card for students, check out Discover it. By using this link you will also get a $50 bonus when you make your first purchase with discover it card.

There are two “Capital One Quicksilver” cards Quicksilver Rewards and QuicksilverOne Rewards. Both cards are exact the same in terms of rewards, redeeming rewards, no foreign transaction fees but differ in few aspects which I will discuss below.

90% of credit lenders use myFICO If you want to see what your credit looks like – you can get 20% off if you use this link to sign up and get report for myFICO.

Topics I will go over:

  • Capital One Quicksilver Rewards Review
  • Capital One QuicksilverOne Rewards Review

 

Capital One Quicksilver Rewards – Review

This is the one I applied for and was approved. Have had this card for a month now and overall very happy with it. I mean getting 1.5% on every purchase is very nice, even though it might sound like barely anything but better than most of other cash back reward’s credit cards or using your debit card where you get nothing at all. I also found out about Spotify and Hulu subscription for students and that only sweetened the deal by having this card. The primary reason for this card for me was the “No Foreign Transaction Fees” and as we know Visa is widely accepted brand of card.

1. $150 bonus: Like I mentioned the bonus is $150 for spending $500 which is much lower spending requirement than other cash back credit cards.

2. 0% APR Promotion Period: This card gave me 0% interest and balance transfers for 9 months. After that, the APR rate range is 14.24% to 24.24% based on the credit. This is great if you are planning to buy something large or consolidate your debt. *There is a 3% balance transfer fee.

3. Unlimited 1.5% Cash Back: I have a rotating categories card which is my Discover it card but it changes every 3 months, so there’s no use for it other than those dates. This card pays 1.5% cash back on every dollar I spend, there’s no limit on how much I can earn.

4. No Annual Fee: This Quicksilver card does not have an annual fee.

5. No Foreign Transaction Fee: This one was the biggest one for me, I relied on my American Express card on my recent trip and I was only able to use it at 2 places over 3 weeks in different countries.

6. Rewards do not expire: It is great to know that the rewards I earn will not expire, so I can keep piling them up like I love to do and then buy something or even pay off my monthly statement. Can also be swapped for gift cards.

7. Spotify Premium Discount: You get 50% off Spotify through April of 2018, below I will tell you how to get Spotify and Hulu for $1.99/month.

Excellent Credit: You will need excellent credit in order to qualify for this card. If you are working on you credit, or you have few bumps you should consider the identical card from Capital One which I talk about below.

Capital One QuicksilverOne RewardsReview

The Capital One QuicksilverOne Rewards card is identical to it’s twin which I talked about above but is designed for people with building credit, or “average” or “fair” credit history. What that means is a FICO score between 580 and 669 generally speaking. See my Credit Karma Post and how it can help you build your credit.

It is a very nice move by Capital One to offer identical card with the same benefits. This card has all the same rewards as the Capital One Card but because of the credit score there are some downfalls to this card which I list below

1.No Cash Bonus minimum spending: Unfortunately, there’s no welcome offer for this card.

2. No APR Promotion Period: This card has rather high interest rate at 24.99%, so better not carry balances month-to-month.

3. Unlimited 1.5% Cash Back: You do get the same amount of cash-back monthly no matter how much you spend, no limit on spending cash-back.

4. $39 Annual Fee: This QuicksilverOne card has annual fee of $39.

5. Access to a Higher Credit Line: After making first 5 monthly payments you will get rewarded a higher credit line.

6. No Foreign Transaction Fee: No foreign transaction fees, use it freely abroad without any fees.

7. Rewards do not expire: Your cashback will not expire

Bottom Line

This is a great card that comes with some great benefits and I am really looking forward using this card for unlimited cash back for every purchase, and the biggest one for me yet is “no foreign transaction fees” so I can use the card in different countries worry free. Also, the cash rewards is another perk that I love and that it does not expire even better. Be careful before you apply and see my post on Credit Karma and Credit Scores before you apply to see if you qualify, you don’t want to ruin your score applying for a card that will deny you causing you to lose points on your credit score.

Also, if you care about the looks, this card has a nice thick feel and shiny silver look.

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Richard Barnett is a student majoring in finance, entrepreneur, marketer, content writer, traveler, and financial blog “Student Money Adviser” owner. You can read more about me here.

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