Capital One QuicksilverOne Cash Rewards Credit Card review

Bankrate Staff  in  Fair Credit How we rate our cards  | 

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Capital One Image

Recommended Credit Score

Fair to Good (580 - 740)

A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Apply Now On Capital One's secure website

Best for fair credit

Annual Fee:
$39
Purchase Intro APR:
N/A
Balance Transfer Intro APR:
N/A
Regular APR:
26.99% (Variable)
Terms and Restrictions Apply

Bankrate Rating

Best for cash back while credit-building

  • Rewards rate: Unlimited 1.5% cash back on all purchases
  • Welcome offer: N/A
  • Annual fee: $39
  • Purchase intro APR: N/A
  • Balance transfer intro APR: N/A
  • Regular APR: 26.99 percent variable APR

Individuals who want to build their credit and get rewarded while they do it should consider the Capital One QuicksilverOne credit card. The card provides cash back rewards on every purchase and is one of the few cards that is available to those with fair credit.

Plus, cardholders are automatically considered for a higher line of credit in as few as six months with on-time payments. With responsible use, Capital One QuicksilverOne credit cardholders may improve their credit scores while earning rewards along the way. Not to mention it also comes with attractive Capital One features, like no foreign transaction fees, emergency card replacement and $0 Fraud Liability.

Current sign-up bonus

Unfortunately, there’s no current sign-up bonus with this card.

Cash back

All purchases with the Capital One QuicksilverOne Cash Rewards Credit Card earn cash back at the same 1.5 percent rate.

Cardholders can choose to get cash back rewards in the form of a check or applied as a statement credit. (Note, statement credits cannot be used to meet minimum payment obligations.) Cardholders can also spend cash back rewards on gift cards, though redemption rates may vary.

Benefits

In addition to the straightforward cash back rewards with this card, cardholders also get access to several Capital One benefits.

Credit-building benefits

The Capital One QuicksilverOne Cash Rewards Credit Card is available to individuals with fair credit or better. In as few as six months, cardholders may be automatically considered for a higher line of credit with on-time payments. And credit card usage with this card is reported to all three major credit reporting bureaus. This means that with responsible use, cardholders may be able to improve their credit score.

Plus, you’ll also get access to CreditWise from Capital One, a free service that lets you monitor your credit score.

Travel benefits

This card has no foreign transaction fees. Cardholders can also access 24-hour customer service, $0 fraud liability and get security alerts. This card has no foreign transaction fees, You won’t pay a transaction fee when making a purchase outside of the United States.

Retail benefits

This card offers Capital One Shopping. Capital One Shopping is an online shopping tool that automatically applies available coupon codes to your order.

Rates and fees

The Capital One QuicksilverOne Cash Rewards Credit Card has a $39 annual fee.

The APR for purchases, transfers and cash advances is a 26.99 percent variable APR, which is high even for cards for those with fair credit..

For a cash advance with Capital One, the fee is either 3 percent of the cash advance amount or $10, whatever’s greater. Late payment fees are up to $40.

How the Capital One QuicksilverOne compares to other cash rewards cards

Most of the best cash back credit cards require good to excellent credit scores. If you have a good credit score and want a cash rewards credit card, you may be better off with a no annual fee option like the Citi® Double Cash Card.

If you’re interested in other Capital One credit cards, check out the Capital One Quicksilver Cash Rewards Credit Card. Like the Capital One QuicksilverOne Cash Rewards Credit Card, you’ll earn 1.5 percent unlimited cash back, but with no annual fee. The Quicksilver card also requires a higher credit score than the QuicksilverOne.

If you don’t qualify for either of these alternatives yet, you can always aspire to get it after building your credit with the Capital One QuicksilverOne Cash Rewards Credit Card.

Card name Sign-up bonus Rewards rate Annual fee
Citi® Double Cash Card N/A up to 2% cash back on all purchases: Unlimited 1% as you buy and another 1% when you pay for purchases $0
Capital One Quicksilver Cash Rewards Credit Card $200 cash bonus after spending $500 within the first 3 months of the account opening 1.5% unlimited cash back on all purchases $0

Best cards to pair with Capital One QuicksilverOne

If you need to make a balance transfer, you may want to consider a balance transfer credit card with a 0 percent intro APR period. You may also want to get a travel points credit card for travel purchases, since you may be able to get more value off those purchases depending on the card.

Bankrate’s Take—Is Capital One QuicksilverOne worth it?

If you have fair credit, the Capital One QuicksilverOne Cash Rewards Credit Card is a great option. There aren’t many rewards credit cards available for those with fair credit, so you can use this to both build your credit and get cash back on all your purchases.

But if you qualify for more exclusive no annual fee credit cards, you may be better off with a different card.

Pros

  • Potentially qualify for a higher line of credit within six months with on-time payments
  • Earn automatic cash back on all purchases
  • No foreign transaction fees

Cons

  • Annual fee
  • No welcome offer
  • No 0 percent intro APR periods for purchases or balance transfers