Are you a student on the lookout for a cost-effective rewards credit card you can use to build a strong credit history? We have a solid option for you that offers extra perks, too. This Capital One Quicksilver Rewards for Students review gives you the information you need to decide whether this is the best card for your spending habits and financial goals.
Capital One Quicksilver Rewards for Students Review
This Capital One Quicksilver Rewards for Students review underlines this card’s unique benefits for students. Although you don’t get rotating reward categories here, you get a flat-rate rewards system.
You can get this Capital card easily if you are a student starting college, university, or any higher education institution. You need a fair credit score to be eligible.
Pros
- The card offers a flat rate of 1.5% cashback on purchases, with no limits or categories to track.
- Beneficial for students, the card comes with no annual fee. This makes it a cost-effective option for credit building.
- You get a one-time cash bonus of $50 after spending $100 within the first three months, adding to your reward pool.
- You can get approved for this card on a fair credit score, plus it reports to the three major credit bureaus. This means you can easily build credit with this card as you study.
Cons
- You pay a high APR on purchases and balance transfers. This can pile up your debt if you choose to carry a balance.
- You don’t earn specific rewards on routine categories like other Capital One cards.
Features and Benefits
| Feature | Benefit |
|---|---|
| Fees and APR | The $0 annual fee makes this card affordable for students. Also, you learn to avoid debt by clearing your dues. |
| Rewards | You earn unlimited cash back that becomes your asset. |
| Rewards redemption | You can redeem rewards through multiple channels according to your needs. |
| Card security | You pay a $0 liability if your identity is stolen or scammed. |
| Card management | The bank provides tools for you to manage your card effectively and easily. |
| Card Perks | You can maximize your card’s value through these extra benefits. |
Fees and APR
The Capital One Quicksilver Rewards for Students is made affordable for students who are just starting to build their credit score. You pay:
- $0 annual fee
- $0 foreign transaction fee
- Up to $40 late payment fee
- 4% fee on every balance transfer
- 5% fee on every cash advance
You incur a variable APR between 19.99% and 29.99% on purchases and balance transfers. That said, we recommend you pay off your monthly dues in full instead of making the minimum payment. Otherwise, interest will add to the remaining balance and accumulate into a huge debt.
Rewards
Capital One Quicksilver Rewards for Students offers a straightforward rewards program. You get:
- Unlimited 1.5% cash back on every purchase.
- Unlimited 5% return on booking hotels and rental cars through the Capital One Travel portal.
- Unlimited 10% back on Uber and Uber Eats purchases until November 14, 2024.
You also get a welcome bonus of $50. To get it, you must spend $100 within the first three months of account opening. We found it an easily attainable goal because of the required spending amount and the timeline.
Rewards Redemption
This card offers students a straightforward rewards redemption process. Cardholders can redeem their rewards at any time for:
- Statement credits
- Gift cards
- Purchases on Amazon.com
- Pay for purchases through PayPal
Cardholders may set up automatic redemption preferences. You can set a time each calendar year or when a specific threshold, such as $25, $50, $100, or $200 is reached.
Card Security
Capital One takes security seriously. Below are some key features that protect cardholders:
- Capital One offers $0 fraud liability. The cardholder won’t be responsible for unauthorized charges if the card is lost or stolen.
- Capital One has an online assistant called Eno. Among other things, it helps users generate virtual card numbers to protect their actual card numbers when shopping online.
- Cardholders receive real-time notifications for unusual activity, ensuring prompt action can be taken to prevent potential fraud.
- Students can instantly lock their card through the app if lost or stolen, preventing unauthorized use.
The bank employs secure socket layer (SSL) technology to encrypt online data. However, you must review your account statements regularly to verify transactions.
Card Management
The Quicksilver Students card offers user-friendly card management features that are accessible both online and via a mobile app. These tools are designed to help you stay in control of your finances.
- Cardholders can check balances, view transactions, and monitor reward earnings.
- We highly recommend using payment schedules. It allows you to set up automatic payments to avoid late fees.
- On-the-go management through the mobile app provides real-time access to the account.
- Alert notifications by Eno keep you updated for payments due, recent transactions, and potential fraud.
- You can find a list of merchants with your card information on your mobile app. You can find out if you are recurrently paying a merchant unknowingly.
- You can also add an authorized user to this card and track their spending.
- 24/7 customer service is available for any card management issues.
- Capital One offers CreditWise to monitor your credit score for free.
- Interactive graphs and spending trackers help students understand their spending habits.
Card Perks
Besides rewards, you get some extra benefits with this card for travel, dining, and entertainment purposes:
- You get travel accident insurance if you pay your fare with this card. Your losses can be covered in case of an accident.
- You also get an extended warranty on selected purchases you make with this card.
- You get 24-hour travel assistance if your card is stolen or lost during your trip. Capital One sends you an immediate replacement card and a cash advance so you are not stranded abroad without cash.
- The bank sends you recommendations for the cheapest flight rates with Capital One Travel. If you booked that and managed to find a more affordable deal later, you get a total price match. Capital One reimburses you for the price difference.
Additionally, you can get a discount on purchasing tickets through Capital One Entertainment for:
- Movie theaters
- Amusement parks
- Tourist attractions
- Zoos
- Aquariums
- Dance halls
- Record stores
- Bowling alleys
- Pool halls
Also, you can book tickets for VIP or invitation-only concerts or sporting events.
Additionally, you can get access to culinary events through Capital One Dining. You can also get reservations to award-winning restaurants.
Related Questions
Is the Capital One Quicksilver Card Good for College Students?
Yes, the Capital One Quicksilver Rewards for Students is a good card for college students. It is particularly tailored for students building credit while earning cash back rewards. With no annual fee and a straightforward rewards program, it provides simplicity and value.
What Is the Difference Between Quicksilver and Quicksilver Student?
There are two major differences between Quicksilver and Quicksilver Student: Their target users and credit requirements. The Quicksilver Student card is designed for students with limited credit histories. It offers a more accessible approval with benefits similar to the standard Quicksilver card. It includes 1.5% cash back on purchases.
Is Capital One Quicksilver Student a Visa?
Yes, the Capital One Quicksilver Student card operates on the Visa network. Cardholders benefit from the widespread acceptance of Visa, coupled with Visa’s standard security and protection features.
Conclusion
The Capital One Quicksilver Rewards for Students card is a solid start for students because of its affordability and various features. You are exempt from an annual and foreign transaction fee. Students can even earn a flat-rate, unlimited cash back of 1.5% on every purchase. Finally, added entertainment and dining perks make it one of the coveted student cards.