Capital One QuicksilverOne Review

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Many cash back rewards cards require good credit to apply. Not so with the QuicksilverOne® from Capital One®—it’s available to people with average credit, and offers 1.5% cash back while giving you the opportunity to build up your credit.

Capital One® QuicksilverOne® Cash Rewards Credit Card

overall rating
4.3
Capital One® QuicksilverOne® Cash Rewards Credit Card
Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Fair - Excellent
Regular APR (%) 26.99% variable
Annual Fee $39
Rewards Earning Rate 1.5% cash back on every purchase, every day.
Foreign transaction fee (%) 0%
Ratings Breakdown
for Interest
1.8
for Fees
3.9
for Rewards
4.0
for Credit
4.2

Top Rated For

  • Best Cash Back Credit Cards

Who is This Credit Card Best For?

  • Avatar for Deal Seeker Persona
    Diligently searches for the best products and delights in a good bargain
    Deal Seeker
  • Avatar for Savvy Saver Persona
    Prioritizes sticking to their budget while buying what they want and need
    Savvy Saver

If you’re looking to build up your credit profile while earning cash back, the Capital One QuicksilverOne is a good choice. Unlike many other cash-back rewards credit cards, the Capital One QuicksilverOne doesn’t require excellent credit. The 1.5% cash-back rate isn’t too far from what many premium-level rewards cards are currently offering. And in addition, Capital One offers a program called Credit Steps that offers you a higher credit limit after you make five sequential on-time payments. 

Pros

  • Available to people with average credit

  • Unlimited 1.5% cash-back rewards

  • Easy redemption options

  • Incentive for on-time payments

Cons

  • Annual fee

  • High interest rate on purchases, transfers, and cash advances

  • No introductory interest rates

  • No sign-up bonus

Pros Explained

  • Available to people with average credit: Many credit cards (especially rewards credit cards) require good or excellent credit in order to qualify. The Capital One QuicksilverOne is an exception to that rule.
  • Unlimited 1.5% cash-back rewards: You can earn 1.5% cash back on all purchases you make, with no cap on how much you can earn. As is typical with rewards credit cards, returns or any other forms of credit to your account, deduct from your cash back.
  • Easy redemption options: You can cash out your rewards at any time and for any amount, even for a penny. You can redeem cash rewards as a statement credit, a check, or a gift card. You can even set up automatic redemption options for certain times of the year or certain dollar amounts, if you want. 
  • Incentive for on-time payments: If you make your first five monthly payments on time, Capital One will increase your credit line.This may help increase your credit score, because you’ll be using less of your credit line (assuming you don’t run up the balance higher).  

Cons Explained

  • Annual fee: The Capital One QuicksilverOne card comes with a $39 annual fee. That’s not much, but cash-back rewards cards often don’t have a fee. Rewards cards with no annual fee usually require good or excellent credit, so consider working on your credit so you can qualify for a rewards card without the yearly charge. 
  • High interest rate on purchases, transfers, and cash advances: The Capital One QuicksilverOne charges a very high rate of 26.99% APR compared to other cards. 
  • No introductory APRs: Many basic cash-back cards have introductory periods where you can pay a lower rate on purchases or balance transfers, but the QuicksilverOne doesn’t. That means it’s not a good card for financing purchases or paying down other card debt. 
  • No sign-up bonus: There’s no opportunity to earn extra cash back for spending a certain amount of money in your first months as a cardholder. Many cards with similar rewards (but higher credit standards) offer this. 

Earning Points & Rewards

You’ll automatically earn 1.5% cash back on all purchases you make, with no limit on how much you can earn and no expiration date. Rewards only expire if you close the card without redeeming them. 

This rewards rate is pretty similar compared to many of the cash-back rewards cards out there. However, there still are credit cards that offer better rewards rates

Redeeming Rewards

You can cash in your rewards at any time and for any amount in the following ways:

  • Statement credit
  • Check
  • Gift card

Another handy thing that Capital One allows is setting up automatic redemption preferences. If you want to redeem your rewards at the same time each year—before the holidays, say, or a month before your birthday—you can do so. You can also set up cash rewards to be doled out automatically once you reach certain thresholds, either $25, $50, $100, $200, $500, or $1,500. 

Finally, you may be able to transfer your rewards between Capital One accounts in some cases. Capital One doesn’t publish which credit card accounts are eligible, so if this interests you, you’ll need to contact customer service to see if your account is eligible for rewards transfers. 

How To Get The Most Out Of This Card

You can get the most out of this card in two specific ways. First, make sure you’re able to spend at least $2,600 per year (or $216.67 per month) with the card, because then you’ll earn enough cash back to offset the annual fee. Second, make sure you pay off your balance in full before the payment is due—that way, you won’t even have to worry about paying the high interest rate.

Keep close tabs on your spending on a rewards card. It doesn’t make sense to make purchases to earn 1.5% cash back if you’re going to finance them with a double-digit APR.

Capital One QuicksilverOne’s Excellent Perks

The Balance’s editors classify some high-value benefits as “excellent perks,” because they’re valuable enough to deserve a shout-out. The QuicksilverOne only offers one benefit from the short list of excellent perks, travel accident insurance.

Other Features

  • Auto rental collision damage waiver: If you charge a rental car to your card and it’s damaged by theft or collision, you may be covered for up to the full value of the vehicle if you decline the car rental company’s insurance. 
  • Extended warranty: If you pay for something with your card and it has a written warranty of three years or less, you can get up to an extra year’s worth of warranty protection from Capital One.

Customer Experience

Capital One falls in the middle of the pack in regards to customer satisfaction, according to a 2019 J.D. Power survey of major card issuers. Capital One does offer several handy features for its Capital One QuicksilverOne card, including a mobile app, 24/7 customer service, and a monthly recurring transaction list. 

Security Features

Many of the Capital One QuicksilverOne’s security features are relatively standard and include things like card lock, a virtual credit card number, and account alerts. While this is not exclusive to card members, you can also take advantage of Capital One’s CreditWise program, which provides a free VantageScore 3.0 score (a close approximation of your FICO score).

Capital One QuicksilverOne's Fees

The Capital One QuicksilverOne is light on fees, other than the annual fee. The ones it charges are on-par with the industry, and there are several common fees it doesn’t carry. Most notably, there’s no foreign transaction fee.  

For Capital One® QuicksilverOne® Cash Rewards Credit Card
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Capital One® QuicksilverOne® Cash Rewards Credit Card
overall rating
4.3
Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Fair - Excellent
Regular APR (%) 26.99% variable
Annual Fee $39
Rewards Earning Rate 1.5% cash back on every purchase, every day.

Our Methodology

  • At The Balance, we are dedicated to giving you unbiased, comprehensive credit card reviews. To do this, we collect data on hundreds of cards and score more than 55 features that affect your finances.
  • Our Reviews Are Always Impartial: No one can influence which cards we review, the way we present them to you, or the ratings they receive. The scores and reviews come directly from the data we collect and our editorial expertise, and we focus on three areas:
  • How Much Does It Cost? With credit card debt at an all-time high, we believe you should know the cost of carrying a balance. Because of that, we give regular purchase APRs significant weight in overall scores, and cards receive low marks if they have an array of pricey fees.
  • What Are the Rewards Worth? Cards accumulate rewards in different currencies—points, miles, cash back—and their values vary widely. To simplify the problem, we built a system that fairly compares rewards and gives them a dollar value. We do this by looking at the ways you can earn and use rewards, which includes evaluating Americans’ typical spending habits and analyzing common travel patterns.
  • Does It Make Your Life Easier? Our scoring system favors cards that accept a wide range of credit profiles and offer simple solutions for things like checking your credit score or contacting customer service. Finally, we give preference to credit cards that have several tools for dealing with fraudulent charges.
  • For every review on The Balance, we hold the credit cards to these standards, and we set the bar high. While we recognize the appeal of splashy features like six-digit sign-up bonuses, our approach ensures that credit cards with the best combination of value, affordability, and accessibility receive the highest scores. See our full methodology for more details.