Is The Capital One Quicksilver Student Cash Rewards Card Worth It?

There are numerous reasons to get a credit card when you’re in college, the most important of which is having the chance to build credit for later in life. Credit cards for students can also help you learn positive credit habits, such as keeping your balances low and paying your bills on time. Not only that, but many student credit cards come with valuable benefits, and some offer cash back or other types of rewards for each dollar you spend.

Choosing the right student credit card will come down to your lifestyle, budget and needs. Do you intend to study or travel abroad? You’ll want a card that doesn’t charge annual or foreign transaction fees. Do you eat out often or drive frequently? You’ll want a card that rewards restaurant and gas purchases. There are myriad options, plenty of which offer rewards and perks with no annual fee.

The Capital One Quicksilver Student Cash Rewards Credit Card is one such option, but is it worth it? Here’s where this card shines and when it might make sense to consider other options instead.

When is the Capital One Quicksilver Student Cash Rewards Card worth it?

Want to know if the Capital One Quicksilver Student Cash Rewards Card is worth it? Here are some situations where this card might be a good fit. 

You want to build credit without an annual fee

If you need a credit card to begin building credit as a college student, the Capital One Quicksilver Student Cash Rewards Card can be worth it in a traditional sense. This card doesn’t charge an annual fee of any kind and comes with access CreditWise® monitoring so you can track your credit score progress.

You want to earn rewards while building credit

When it comes to rewards, this flat-rate card keeps it simple, offering busy college students 1.5 percent cash back on every purchase. Additionally, students can earn 5 percent cash back on hotels and rental cars booked through the Capital One Travel portal.

Rewards are flexible, with the option to redeem for statement credits or a check. You can also use cash back to cover a recent purchase or redeem them for gift cards — although redeeming for gift cards typically is the least valuable redemption option. With these kinds of options available, you’ll never be in a situation where you’re stuck with rewards you cannot use.

You want to earn a welcome bonus

New cardholders can also earn a $50 cash bonus after spending at least $100 on purchases within three months of account opening. Meeting the relatively small minimum spending requirement means this card can earn some solid rewards right off the bat.

You need access to a higher credit limit

Along with earning rewards on your purchases, the Quicksilver Student Cash Rewards Card also rewards students for responsibly using the card. After making on-time payments for six months, cardholders will be automatically considered for a higher credit limit.

You want various purchase and travel protections

Other notable benefits include extended warranties on eligible items, travel accident insurance and 24-hour travel assistance services. The Quicksilver Student Cash Rewards Card also comes with no foreign transaction fees, a hallmark of all Capital One credit cards, so it’s a good credit card for students who travel internationally.

When is the Capital One Quicksilver Student Cash Rewards Card not worth it?

There are a few scenarios where the Capital One Quicksilver Student Cash Rewards Card is not worth it. Here are some situations when you may want to consider other cards instead. 

You have no credit history

It’s worth noting that the Capital One Quicksilver Student Cash Rewards Card is geared to students with fair credit. In other words, this credit card is not necessarily available to people with no credit history at all, which would include many college students who have never had a credit card or a loan.

But you can always check your eligibility through a preapproval process with Capital One.

You can qualify for a better rewards card

If you already have good credit, you may want to consider a credit card that earns a higher cash back rate or better rewards. For example, those with good to excellent credit may qualify for the Wells Fargo Active Cash® Card. This card comes with no annual fee and earns an unlimited 2 percent cash rewards on all purchases. New cardholders can also earn a $200 cash rewards bonus after making $500 in purchases during the first three months they have the card.

You plan to carry a balance

Beyond the credit requirements, you should also know that this card’s interest rate is on the high side. In fact, cardholders will pay an APR of 19.49% – 29.49% (Variable) when they carry a balance. Additionally, the card doesn’t come with an introductory APR offer.

Compare that to the Discover it® Student Chrome, which also has no annual fee, and comes with an intro APR of 0% for 6 months on purchases and a 10.99% for 6 months on balance transfers (then 17.49% – 26.49% Variable APR *Rates as of December 12, 2024.).

Should you get the Capital One Quicksilver Student Cash Rewards Card?

At the end of the day, the Capital One Quicksilver Student Cash Rewards Card is best for students who want to build credit, earn rewards and don’t carry a balance. This card is also good for students who want to avoid annual fees and those who have a limited credit history but at least some information on their credit reports.

If you have no credit history, on the other hand, you may want to look at secured credit cards or other types of starter credit cards. You could also consider becoming an authorized user on a parent’s card.

If you plan to carry a balance, you’ll want to explore credit cards that offer a 0 percent intro APR on purchases, balance transfers or both for a limited time.

The bottom line

If you still can’t decide if you want this student credit card, learn more about the card’s benefits to better understand what it can offer you. From there, you can see how this card compares to other student credit cards, including other student cards from Capital One.

In the meantime, you should think over what you hope to accomplish with your student card. Maybe you want to earn credit, build rewards or both. Whatever your goals, you’ll find a credit card that can help you get there.