Earn unlimited 1.5% cash back on every purchase, every day
Earn cash rewards without signing up for rotating categories
Get access to a higher credit line after making your first 5 monthly payments on time
Monitor your credit profile with the CreditWise® app, free for everyone
$0 fraud liability if your card is ever lost or stolen
No limit to how much cash back you can earn, and cash back doesn't expire for the life of the account
Help strengthen your credit for the future with responsible card use
Get customized alerts and manage your account with the Capital One mobile app
There's no minimum amount required for reward redemption, so you don't have to overspend in an attempt to collect your rewards. Some cardholders have the option to upgrade to the regular Quicksilver card without a hard credit pull, so you can use the QuicksilverOne as a starter card.
The 26.99% interest rate is high, so try to graduate to the regular Quicksilver card if your credit improves from average to good.
Application Process: Apply online in a minute or two, then receive an immediate approval or denial. Occasionally it takes 7 to 10 days for Capital One to reach a decision.
Annual Fee: There's a $39 annual fee, but at least you don't have account maintenance fees or foreign transaction fees.
APR: The variable APR is 26.99% for purchases and cash advances. Cash advances also require you to pay up to $10 or 3% of each cash advance total.
Rewards and Redemption Options: You earn 1.5% cash back every time you swipe your card for an approved purchase, and you aren't confined to specific rewards categories. There's no minimum required for redemption, and rewards never expire.
You can redeem rewards via a statement credit, check, gift card, or charity donation.
Bonus Offers: None, but you'll qualify for some if you eventually upgrade to the regular Quicksilver card.
The Capital One QuicksilverOne is for folks with average credit, but it treats cardholders almost as well as several of the best cards for excellent credit. Sure, there’s a small annual fee to deal with, but you get unlimited cash-back rewards and the general slew of benefits associated with Capital One cards. Get the full details below in our Capital One QuicksilverOne credit card review.
CAPITAL ONE QUICKSILVERONE REWARDS CREDIT CARD REVIEW
NerdWallet and WalletHub both have plenty of praise for the Capital One QuicksilverOne credit card. The former sums up the card by stating it offers “above-average rewards for average credit,” which is basically all you need to remember if you don’t have time to skim the entire review below.
The card’s rewards are straightforward: You get unlimited 1.5% cash back on qualifying purchases. There are no rotating rewards categories like Discover cards have, and you aren’t stuck redeeming rewards for airline miles or other perks you might not use.
Your odds of approval are decent if you have a FICO that’s at least 630, but we’ve seen the occasional report of users with lower scores getting approved. If you’ve got a FICO that’s in the 700s, you may want to apply for the regular Quicksilver card instead. It has the same rewards rate, but there’s no annual fee.
CAPITAL ONE QUICKSILVERONE CREDIT CARD REWARDS AND PERKS
Rewards come easy with the Capital One QuicksilverOne credit card. You earn 1.5% cash back for all qualifying purchases, which makes this card a practical option for everyday spending. Fill your cart with groceries, fuel up your car, keep your utilities in good standing, or treat yourself to a tropical vacation. You can earn cash back for doing all of that, and more, with this rewards card.
You can earn as much cash back as you want with this card as long as you don’t exceed your credit limit. When you’re ready to redeem your rewards, simply request a check or an account credit. You can even set up automatic redemptions so you don’t have to worry about remembering to request your earnings.
Gift card redemptions are another option, or if you’re feeling generous, you can donate your cash-back rewards to the approved charity of your choice. Rewards don’t expire, so take your time deciding on a redemption option.
Unfortunately there’s not a sign-on bonus for the QuicksilverOne, so the only way to get more rewards is to spend more money. The regular Quicksilver card offers a $150 cash bonus if you spend at least $500 during the first 3 months you have the card.
CAPITAL ONE QUICKSILVERONE CREDIT CARD BENEFITS
Visa cards are known for treating cardholders to benefits like fraud protection and extended warranties. The QuicksilverOne card offers both of those benefits as well as protection if qualified purchases are stolen or damaged.
It also offers the usual travel benefits: Travel accident insurance, auto collision rental protection, and emergency roadside assistance. Merchants around the world accept the Capital One QuicksilverOne card, so you shouldn’t experience many - if any - issues using it when you travel.
The QuicksilverOne credit card offers several other benefits, including:
- A credit line that grows with your credit history - simply pay your bill on time for 5 consecutive billing statements to get access to a higher credit line
- Free credit monitoring from CreditWise
- Instant purchase notifications from the Capital One mobile app
- The option to choose your own due date
- Potential for an upgrade to the regular Quicksilver card without a hard pull on your credit report - numerous users report this happening
- Access to exclusive offers for dining, sports, music, and more
With the exception of the credit line increase after 5 payments, many of these benefits are found on all Capital One cards.
CAPITAL ONE QUICKSILVERONE CREDIT CARD COSTS AND FEES
Unlimited cash back comes at a cost: $39 per year in the form of an annual fee. That’s not bad when you consider other cards geared toward average credit charge as much as $99 annually, plus monthly maintenance fees.
Purchases have a variable APR of 26.99%. This is on the high end for credit cards in general, although it’s still lower than the average APR for cards that target users with bad credit.
Cash advances cost $10 or 3% of each cash advance total, whichever is greater, plus they come with a 26.99% APR.
Transferring balances from other cards is an option, and there’s no balance transfer fee. However, you’ll still pay interest on your transferred balance each month.
There’s no promotional APR for purchases or balance transfers. That’s the norm for cards designed for people with average credit, though.
Late fees cost as much as $38, and you may also pay an additional fee for returned payments. Be careful not to bounce your checks.
The card has no foreign transaction fees, so feel free to book that vacation you’ve been planning!
DOES THE CAPITAL ONE QUICKSILVERONE CREDIT CARD MAKE SENSE FOR ME?
Yes, if you’re interested in the regular Quicksilver card but lack the stable credit history required for approval. The QuicksilverOne is very similar to the regular Quicksilver card, but you’ll earn fewer rewards and pay an annual fee.
Because there’s an annual fee, it makes sense to use this card for everyday purchases so you can earn cash-back rewards. You have to spend at least $2,600 per year to justify the $39 fee unless you care more about building your credit history than racking up rewards.
That may sound easily attainable, but keep in mind your initial credit limit might be as low as $300. If that’s the case for you, then you’ll basically have to max out your credit card each month to spend $2,600 in a year.