Capital One Quicksilver Rewards for Students Credit Card

Many credit card issuers offer cards geared toward college students with little or no credit history and scores in the “average” range (which is typically considered to be credit scores between 580 and 680). Student cards are meant to help students build credit so that they can graduate with a solid credit history, and some of them even offer rewards in the form of cash back or points.

Capital One offers several student credit cards, all of which are available to actively enrolled students with average credit scores. If you’re looking for a student card that offers a simple, flat cashback rate on all purchases and doesn’t charge an annual fee, then you may want to consider the Capital One Quicksilver Rewards for Students Credit Card.

This card offers 1.5% cash back on all purchases everywhere, every day. Plus, you can also earn 5% cash back on hotels and rental cars booked through Capital One Travel. In addition to these cashback rewards, the Quicksilver Rewards for Students card also comes with several other valuable benefits, such as $0 fraud liability protection, no foreign transaction fees, a complimentary six-month Uber One membership (through Nov. 14, 2024) and even a welcome bonus.

However, before you sign up for the Quicksilver Student card from Capital One, you should do some research on other student credit cards. There are several other student cards that offer superior cashback rewards to the Quicksilver Rewards for Students card. In particular, the Capital One SavorOne Rewards for Students Credit Card is probably a better option for most people. Still, let’s take a look at the different aspects of the Quicksilver Student card from Capital One.

Pros	Cons
No annual fee	Available to students only
$0 fraud liability protection	High APR
1.5% cash back on every purchase, every day
No foreign transaction fee
Available for consumers with average credit

Capital One Quicksilver Rewards for Students Credit Card Spending Bonuses

One of the main draws of the Quicksilver family of credit cards is the fact that they offer a flat cashback rate on all purchases. Here are the spending bonuses for the Quicksilver Student card (as well as every card in the Quicksilver family):

• • 10% cash back on purchases through Uber and Uber Eats (through Nov. 14, 2024)
  • 5% cash back on hotel and rental car purchases through Capital One Travel
  • 1.5% cash back on all other purchases

The advantage of earning a flat cashback rate on all purchases is that you don’t have to worry about which bonus categories are going to earn the most. If you’re willing to pay attention to bonus categories, you can earn more cash back with other cards. However, if you don’t want to bother with that stuff, then the Quicksilver Rewards for Students card keeps things simple and offers 1.5% cash back on all purchases.

Plus, if you decide to rent a car or book a hotel, you can do so through the Capital One Travel portal and earn 5% cash back. That can make an upcoming spring break road trip considerably cheaper when you consider the cash back you’ll be earning.

When you earn cash back with Capital One, it automatically goes into your Capital One account and can be redeemed in any amount at any time. When it comes to redemption options, you can either request a check, apply your cashback rewards as a statement credit or use them to purchase gift cards from certain retailers.

Capital One also has an auto-redemption feature that allows you to apply your cash back automatically as a statement credit when your balance reaches a certain threshold (either $25, $50, $100 or $200). This feature makes the process of redeeming your cashback even easier.

Capital One Quicksilver Rewards for Students Credit Card Benefits

In addition to earning cashback rewards, the Quicksilver Rewards for Students card also has several other notable benefits, several of which come standard on all Capital One cards. If you plan on signing up for the Quicksilver Student card, it’s worth familiarizing yourself with these benefits so that you can take full advantage of them and get the most out of your card.

Complimentary Uber One Membership

When you sign up for the Quicksilver Student card, you’ll be eligible to receive a complimentary six-month Uber One membership (a value of $9.99 per month) through Nov. 14, 2024. Here are the main benefits of an Uber One membership:

• • Unlimited $0 delivery fee on eligible food, groceries and more on Uber Eats
  • Up to 10% off eligible orders with Uber Eats
  • Up to 5% off eligible rides with Uber
  • Member-only perks and promotions

Your complimentary membership will be issued in the form of statement credits. So, you just have to sign up for Uber One through the Uber or Uber Eats app, use your Quicksilver Student card as your payment method and select a monthly membership (rather than a yearly membership). You also shouldn’t use any Uber Cash to pay for your subscription. Then, you’ll receive a statement credit for the full membership fee each month for the promotional six-month period.

If you don’t want to pay for Uber One after the free six-month period is over, just make sure that you cancel your subscription before the end of the sixth month.

No Foreign Transaction Fees

One benefit that’s included on all Capital One credit cards is zero foreign transaction fees. Capital One markets its products towards people who like to travel. So, no matter what Capital One card you have (including the Quicksilver Student card), you can use your card anywhere in the world without being charged an additional fee.

While this may not sound like a huge deal, there are some cards that charge as much as 3% for making transactions outside of your home country. So, the fact that Capital One cards don’t charge foreign transaction fees could save you a lot of money.

$0 Fraud Liability

Another feature that comes standard on all Capital One cards is $0 fraud liability protection, which protects you from being responsible for any fraudulent charges made in the event that your card is lost or stolen.

If Capital One notices any suspicious activity on your card, you’ll be notified via text, email and by phone. Then, you can confirm whether the transaction was yours. If you report the transaction as fraudulent and Capital One is able to confirm the fraud, you’ll be reimbursed for the full amount of the transaction.

Automatic Credit Line Reviews

One of the best features of the Capital One Quicksilver Student card, particularly for students who are just starting out in the world of credit, is that you’ll be automatically reviewed for a higher line of credit just six months after opening your account. However, if you want to have your credit limit raised, you’ll have to have made all of your payments on time over the course of those six months.

Getting a higher credit limit is important for two reasons: it can help you raise your credit score and it can be extremely helpful in case of an emergency.

First of all, by raising your credit limit and keeping your spending habits the same, you can decrease your credit utilization ratio (which is basically the amount of your available credit that’s being used). And since maintaining a low credit utilization ratio is one of the main contributing factors to a good credit score, raising your credit limit is great for improving your credit score.

Having a higher credit limit is also great in the case of an emergency. If you unexpectedly need a large chunk of money, it’s nice to know that your credit card issuer will lend you some of that money.

Available for Students with Average Credit

Whereas the regular version of the Capital One Quicksilver Rewards credit card is available only to those with credit scores in the “good” or “excellent” range (typically considered to be 680 or above), the Quicksilver Rewards for Students card is available to those with “average” credit (typically considered to be between 580 and 680).

This card is intended for young students who are new to the world of credit and are looking for a card to build their credit with. However, you’ll need to be able to verify that you’re a currently enrolled student to qualify for this card.

Welcome Bonus

Unlike many student cards on the market, the Quicksilver Student card from Capital One offers a welcome bonus. To earn this bonus, you’ll need to spend a certain amount on your card within a certain time period after opening your account. However, the welcome bonus offered by the Quicksilver Student card is easily achievable and you should be able to hit the spending minimum within a few days of receiving your card.

Capital One Quicksilver Rewards for Students Credit Card Drawbacks

While there are a lot of positives about the Quicksilver Student card, there are also several drawbacks that you’ll want to be aware of before you sign up for this card. The main drawback is that you can earn better cashback rewards with other $0 annual fee student cards. The Quicksilver Student card can also be fairly expensive if you tend to carry a balance from month to month because of the interest.

Available Only to Students

Unfortunately, for people who aren’t currently in school, the Quicksilver Student card from Capital One is available only to students who are actively enrolled in classes. When you apply for this card, Capital One will check with your listed educational institution that you are actively enrolled in an educational program. You’ll be approved for this card as long as Capital One can verify your status as an actively enrolled student.

However, if you sign up for this card as a student, you can continue to use your Quicksilver Student card after you graduate, provided that you’re still in good standing with Capital One.

High APR

One major drawback of the Quicksilver Student card is its high ongoing variable APR between 19.24% and 29.24%. If you often carry a balance from month to month (which is something you should avoid if possible), then you’re going to accumulate high interest charges. Of course, if you pay your balance off in full every month, then this card’s high APR won’t affect you whatsoever.

Other Cards to Consider

In terms of cards that are available to students with average credit, the $0 annual fee Quicksilver Rewards for Students card isn’t a bad option. However, before you sign up for this card, you should know that you can get significantly better cashback rewards elsewhere. Here are some of the other cards you might want to consider in lieu of the Quicksilver Student card.

Capital One SavorOne Rewards for Students Credit Card

Perhaps the best student credit card on the market is the Capital One SavorOne Rewards for Students Credit Card, which also has no annual fee and is available to students with credit scores in the “average” range. This card stands out because of its outstanding cashback spending bonuses.

Here are the bonus categories for the SavorOne Student card:

• • 10% cash back on purchases through Uber and Uber Eats (through Nov. 14, 2024)
  • 8% cash back on purchases through Capital One Entertainment
  • 5% cash back on purchases through Capital One Travel
  • 3% cash back on dining, entertainment, popular streaming services and at grocery stores (excluding superstores, such as Walmart and Target)
  • 1% cash back on everything else

It’s easy to tell that the cashback rewards offered by the SavorOne Rewards for Students card are superior to those offered by the Quicksilver Student card. First of all, the SavorOne Student card offers 8% cash back on purchases through Capital One Entertainment whereas the Quicksilver Student card doesn’t. So, if you’re looking to buy tickets to a concert, sporting event or other experience, you can basically get an 8% discount.

Plus, the fact that this card offers 3% cash back on dining, entertainment, popular streaming services and at grocery stores is fantastic for students. Most students tend to spend most of their money on food and entertainment, and the SavorOne Student card offers generous rewards in those categories.

Discover it Student Cash Back

If you’re willing to track changing bonus categories, then you may want to consider the Discover it Student Cash Back Credit Card, which also doesn’t charge an annual fee and is available to students with average credit scores. Plus, this card offers some seriously lucrative cashback rewards.

The Discover it Student card works a little differently than most credit cards. Instead of having fixed bonus categories, this card offers 5% on up to $1,500 in purchases at different places each quarter, such as Amazon.com, restaurants, grocery stores and gas stations. The Discover it Student card also offers 1% cash back on all other purchases.

To find out which categories are receiving 5% cash back each quarter, you’ll have to either look at Discover’s website or read the emails that they send to cardholders. If you’re willing to shift your spending patterns to adjust to these changing bonus categories, you can earn a lot of cash back with the Discover it Student card.

The Bottom Line

The Capital One Quicksilver Rewards for Students Credit Card is a solid card for actively enrolled students who want to build credit and earn cashback rewards without paying an annual fee.

This card offers a flat cashback rate of 1.5%, which is good by industry standards. Plus, this card doesn’t charge a foreign transaction fee; it comes with $0 fraud liability protection; and Quicksilver Student cardholders get a complimentary six-month membership to Uber One (through Nov. 14, 2024).

While there aren’t many negative things to say about the Quicksilver Rewards for Students card, there are other options that are better for most students.

The SavorOne Student card, another offering from Capital One that doesn’t charge an annual fee and is available with an average credit score, offers some incredible cashback bonuses, such as 3% cash back on dining, entertainment, popular streaming services and at grocery stores (excluding superstores, such as Walmart and Target). Since food is the largest expense category for a lot of students, the SavorOne Student card might be your best option.

So, while the Quicksilver Student card offers a pretty good flat cashback rate on all purchases, its rewards can’t compete with some of the other student cards on the market. Still, if you’re the kind of person who doesn’t want to keep track of bonus categories and would rather earn a flat rate, then the Quicksilver Rewards for Students card might be for you.

 

For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.