Capital One® QuicksilverOne® Cash Rewards Credit Card Review

Capital One® QuicksilverOne® Cash Rewards Credit Card Review

Learn more about this card and find out how you can apply here.

The Capital One® QuicksilverOne® Cash Rewards Credit Card is a cash back credit card that charges a $39 annual fee and earns a flat, unlimited 1.5% cash back rate on every purchase. Cash back rewards can be redeemed for a variety of cash equivalents, including paper checks and statement credits.

Capital One QuicksilverOne is among a relative handful of cash back credit cards without an early spend bonus. On the other hand, this card has unusually lax credit requirements – prospects with average credit are welcome to apply. If you make timely, in full payments for at least five months following approval, you’re rewarded with a higher credit limit.

QuicksilverOne is similar to Capital One Quicksilver, which is basically a no-annual-fee version of this card. Other popular alternatives include Citi Double Cash, BankAmericard Cash RewardsDiscover itChase Freedom, and American Express Blue Cash Everyday.

Capital One QuicksilverOne earns an unlimited 1.5% cash back on every purchase. There are no caps, restrictions, or tiered spending categories to worry about here. You can manually redeem accumulated rewards at any time and in any amount for statement credits, gift cards, or paper checks. If you prefer, you can schedule automatic redemptions that execute when you hit a specified cash back increment: $25, $50, $100, or $200.

This card charges a $39 annual fee. There is no foreign transaction fee or balance transfer fee, though it’s important to note that you’re not allowed to make balance transfers from existing Capital One accounts – including merchant-branded accounts, such as Kohl’s and GM. Cash advances cost $39. Late payments cost $35 apiece.

This card comes with access to Capital One CreditWise, a suite of credit-building and -education tools that includes a free credit score with your monthly statement. You can also access your score at any time through your online account dashboard.

The QuicksilverOne card comes with a nice lineup of fringe benefits, including: 24/7 roadside assistance, 24/7 emergency card replacement for lost cards or compromised accounts, and complimentary collision and damage insurance on rental cars reserved with the card.

This card requires average or fair credit. Capital One tolerates some blemishes on applicants’ credit histories.

The Capital One® QuicksilverOne® Cash Rewards Credit Card is one of the few cash back cards that openly advertises itself to applicants with average credit. Compared to Quicksilver, its stablemate, this is a big benefit. That said, you shouldn’t expect your QuicksilverOne account to come with a sky-high credit limit. If your credit isn’t great, your initial approval is likely to include a restrictive limit that invites you to prove yourself capable of using credit responsibly. If successful, you’ll be rewarded after some months with a higher credit limit – and, if all goes well, an invitation to apply for the Quicksilver Card, which has a lower regular APR and no annual fee.

Learn more about this card and find out how you can apply here.

The Capital One® QuicksilverOne® Cash Rewards Credit Card is a tailor-made first cash back card. It’s especially attractive to consumers whose less-than-perfect credit profiles preclude them from obtaining annual-fee-free rewards cards with lower interest rates. Due to the annual fee and the high APR, it’s not ideal for people who spend lightly or intend to carry balances from month to month.

The fact that this card allows for applicants with average credit straightforward rewards system, flexible redemption opportunities, and its lack of a balance transfer and foreign transaction fee, are all nice benefits.

The $39 annual fee, high APR, lackluster intro APR promotion, and the lack of an early spend bonus are all drawbacks.

Overall, this is a very good starter cash back card for moderate spenders.

Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airline, or hotel chain, and has not been reviewed, approved, or otherwise endorsed by any of these entities. Opinions expressed here are the author’s alone, not those of the bank, credit card issuer, airline, or hotel chain, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

Categories: Capital One, Credit and Debt, Credit Cards, Reviews

Brian Martucci writes about frugal living, entrepreneurship, and innovative ideas. When he’s not interviewing small business owners or investigating time- and money-saving strategies for Money Crashers readers, he’s probably out exploring a new trail or sampling a novel cuisine. Find him on Twitter @Brian_Martucci.

Comments Disclosure: The below responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.

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Capital One® QuicksilverOne® Cash Rewards Credit Card Review

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