A new pair of Mastercards have come to the market. Capital One has sunsetted their old Aspire Cash and Travel cards. In their place comes a pair of Quicksilver cash back credit cards – the Capital One Quicksilver World Mastercard and the Capital One Quicksilver World Elite Mastercard.
These cards are almost identical to each other – with the only real differences being the income requirements and interest rates.
The Quicksilver cards offer 3% cash back on gas and groceries, 1% back on everything else, and no FX fees. The annual fee? $0. These new cards are among the best no-fee cards you can get in Canada.
Never miss an amazing deal again + get our bonus 250+ page eBook for FREE. Join 50,000 other Canadians who receive our weekly newsletter – learn more.
Quick summary of Capital One Quicksilver Mastercards
Here are the quick details on Capital One's new Quicksilver credit cards.
| Capital One Quicksilver World Mastercard | Capital One Quicksilver World Elite Mastercard | |
|---|---|---|
| Earn Rates | * 3% cash back on groceries, gas, and EV charging * 1% cash back on all other purchases | * 3% cash back on groceries, gas, and EV charging * 1% cash back on all other purchases |
| Welcome Bonus | Double cash back for the first year (terms) | Double cash back for the first year (terms) |
| Insurance Coverage | 8 | 8 |
| Benefits | * No foreign exchange fees * World Mastercard benefits | * No foreign exchange fees * World Elite Mastercard benefits |
| Annual Fee | $0 | $0 |
| Income Requirements | * $50,000 personal * $80,000 household | * $80,000 personal * $150,000 household |
The details on Capital One Quicksilver Mastercards
The Quicksilver credit cards are nearly identical. When it comes to rewards, fees, and insurance, these cards offer the same thing.
Here's the summary for each card.
Rewards
The cash back you can earn with Quicksilver is almost unmatched among other no-annual-fee credit cards in Canada. Plus, there are no caps or tiers to worry about either.
- 3% cash back on groceries, gas, and EV charging
- 1% cash back on all other purchases
Spending $3,000 per month can yield annual rewards of $558. Redeeming your cash back is simple – redeem either the full amount you have or a partial amount as a statement credit.
There's also a welcome bonus – Double cash back on all purchases for the first year. It's an incredible welcome bonus to get you started.
Fees
There are no annual fees with these credit cards.
They also charge no foreign exchange fees. Very few credit cards do not charge the typical 2.5% fee – and even fewer no-annual-fee cards don't charge it.
Insurance
No-annual-fee cards are generally lacking in the insurance department, especially travel insurance.
Quicksilver cards are somewhat the same. These cards include 8 types of insurance, which is less than most cards with annual fees.
But compared to other no-fee cards, the package is quite good, and even includes rare price protection coverage.
Here are the full details.
Capital One Quicksilver World Mastercard®
| Extended Warranty | 1 year |
| Purchase Protection | 90 days |
| Price Protection | Yes |
| Travel Accident | $500,000 |
| Flight Delay | $250 |
| Baggage Delay | $300 |
| Lost or Stolen Baggage | $1,000 |
| Rental Car Theft & Damage | Yes |
Please review your insurance certificate for details, exclusions and limitations of your coverage.
The differences between Quicksilver Mastercards
There are 3 main differences when it comes to the 2 versions of the Quicksilver card.
Income requirements
This is really the biggest difference. The World version only requires a personal income of $50,000 or a household income of $80,000 to qualify. The World Elite card needs $80,000 personal or $150,000 household income requirements.
Thankfully, since all the basic details are the same, it really isn't a deal breaker if you only qualify for the World card.
Interest rates
The World Elite Mastercard does have lower interest rates – it has a flat rate of 20.9% on purchases.
As for the World version, it's a variable rate of 21.9% to 29.9% on purchases.
World vs. World Elite Mastercard benefits
The last point is that one card gets World and the other World Elite Mastercard benefits. World Elite Mastercard benefits are a bit better, but not earth-shattering over what a World card offers.
A few new credit cards launched in Canada this year
Several new credit cards have come to the Canadian market this year. Our newsletter can let you know when something new comes that you could be interested in.
FAQ
What are Quicksilver credit cards?
Quicksilver credit cards are the newest credit cards issued by Capital One in Canada. These are Mastercards that offer cash back on purchases and have no annual fee. There are 2 versions, it comes as a World and World Elite Mastercard.
What do Capital One Quicksilver Mastercards offer for rewards?
Both Quicksilver Mastercards offer the same rewards structure. You'll earn 3% cash back on gas, groceries, and EV charging, and 1% on everything else. You can redeem your rewards towards any purchase as a statement credit.
What are some benefits to Quicksilver credit cards?
Quicksilver Mastercards charge no foreign exchange fees, come with 8 types of insurance, and have either World or World Elite Mastercard benefits.
creditcardGenius is the only tool that compares 126+ features of 255 Canadian credit cards using math-based ratings and rankings that respond to your needs, instantly. Take our quiz and see which of Canada's 255 cards is for you.
GC: 
Comments
Leave a comment
Required fields are marked with *. Your email address will not be published.