Capital One QuicksilverOne Cash Rewards Credit Card Review

Capital One QuicksilverOne Cash Rewards Credit Card ā€” all information about the card.

By Hanna Volkava
Updated November 29, 2022

Good Choose for Fair credit

QuicksilverOne Capital One
Apply now
On Capital Oneā€˜s site
Our Rating:
3.64 out of 5
scorer
Recommended credit score
Fair to Good (580-739)
  • Rewards Rate:
    • 1.5% Cash Back on every purchase.
  • Intro Offer:
    • No current offer.
  • Annual Fee:
    $39 annually
  • Purchase Intro APR:
    None
  • Regular APR:
    28.49% Variable
  • Balance Transfer APR:
    28.49% Variable
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Capital One QuicksilverOne Cash Rewards Credit Card Rewards Calculator

How do you record your expenses?
Enter your monthly spendings on:
1.5%
All purchases
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All benefits

  • Cash back
    • 1.5% Cash Back on every purchase.
  • Travel
    • No Foreign Transaction Fees:
    • You wonā€™t pay a transaction fee when making a purchase outside of the United States.
    • ATM Location Services:
    • Receive help finding the nearest ATM when traveling.
    • Emergency Card Replacement:
    • If your credit card is lost or stolen, you can get an emergency replacement card.

Rate and fee information

  • Purchase Intro APR
    • None
  • Purchase APR
    • 28.49% Variable
  • Intro Balance Transfer APR
    • None
  • Balance Transfers APR
    • 28.49% Variable
  • APR for Cash Advances
    • 28.49% Variable
  • How to Avoid Paying Interest
    • Your due date is at least 25 days after the close of each billing cycle. You will not be charged interest on new purchases, provided you have paid your previous balance in full by the due date each month. You will be charged interest on cash advances and transfers on the transaction date.

Fees

  • Annual Fee
    • $39 annually
  • Fees for Balance Transfer
    • 3% of the amount of each transferred balance that posts to your account. None for balances transferred at the Transfer APR
  • Fees for Cash Advances
    • Either $10 or 3% of the amount of each advance, whichever is greater
  • Late Payment
    • Up to $40
View all Rates & Fees

Pros & Cons

Pros:
  • Unlimited high rewards rate
  • Average credit score required
  • Automatically considered for a higher credit line after 6 months
  • No foreign transaction fees
Cons:
  • Annual fee
  • High APR
  • No bonus rewards categories

Features

Classic
Mastercard
Contactless
  • No foreign transaction fees
  • Cashback
  • Payment Flexibility
  • Fraud Protection
  • Rewards
  • Free Credit Score
  • Fair Credit
  • Good Credit

About the issuer

Capital One has several card types depending on your needs.
Manage your Account & Pay your Bill
You can usually pay your bill online on your
Credit card issuer's website
Call to Customer Service

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  • None
    Annual Fee
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    Regular APR
  • 1.5%
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    Purchase Intro APR
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    Annual Fee
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    Regular APR
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    Purchase Intro APR
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  • None
    Annual Fee
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    Regular APR
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  • None
    Purchase Intro APR
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Capital OneĀ® QuicksilverOneĀ® Cash Rewards Credit Card Review

For a small annual fee of $39 and a ā€œfairā€credit score, you can get this cash-back credit card from Capital OneĀ® and earn 1.5% cash-back on every purchase. The rewards rate is the same as the one on the regular version of the card, but the credit score required to apply is lower.

The Capital OneĀ® QuicksilverOneĀ® Cash Rewards Credit Card is a quite straightforward one, the same flat cash-back rate applies to all purchases and for all categories. Redemption of the credit card points can be done for any amount, at any time.

Capital OneĀ® QuicksilverOneĀ® Cash Rewards: pros and cons

Pros: Cons:
Unlimited high rewards rate. With Capital OneĀ® QuicksilverOneĀ® you can earn unlimited 1.5% cash back on every purchase. There is no cap to the amount of rewards one can earn and they do not expire, you can only lose them if you close the account. Annual fee. Unlike other cash rewards credit cards, this one has an annual fee of $39. Spending more than $2,600 will compensate for it. Additionally, this pays off considering the rewards rate you get (with an average credit score!).
Average credit score required. You can apply for this card with a ā€œfairā€ credit score, ranging 600 - 699. For a card with this sort of benefits, there is usually a higher credit score needed. High APR. Compared to other cards, the 28.49% variable APR on purchases and balance transfers is quite high. So, you need to make sure that you pay off your balance on time if you want to avoid these interest costs.
Automatically considered for a higher credit line after 6 months. If you use this card wisely and you make all your due payments on-time, after 6 months you can make your way to a higher credit line. With a better credit score, you can even ask Capital OneĀ® to upgrade your card to QuicksilverĀ®, which has no annual fee, plus some other benefits. No bonus rewards categories. With this card, you donā€™t get to choose bonus rewards categories like with other cash-back credit cards. Instead, it offers you a flat rate of 1.5% on all purchases.
No foreign transaction fees. You can make transactions outside the US with 0% fee.

Rewards system in a nutshell

The rewards system of Capital OneĀ® QuicksilverOneĀ® Cash Rewards Credit Card is a rather simple one, there are no categories or too many rates. One rate of 1.5% cash-backis applied to all purchases. This is quite convenient for all of those who prefer earning cash-back on all purchases, without having to constrain themselves to specific categories and spend too much time planning on purchases from many categories.

With many cash-back credit cards, you will encounter a minimum redemption amount which can be $25, $50 or higher.

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With the QuicksilverOneĀ® credit card you can redeem your rewards no matter the amount.

Unless you close the account, youā€™ll always have your rewards, since they do not expire for the life of the account. The options offered to redeem your cash-back rewards with the QuicksilverOneĀ® card are the following:

  • Redeem for cash ā€“ you can either request a check or you can apply your rewards as a statement credit.
  • Cover your purchases ā€“ you can apply your cash-back rewards to cover your recent purchases.
  • Get gift cards ā€“ you can spend your cash-back rewards on a gift card.
  • PayPal - you can link your card to your PayPal account and redeem your rewards by shopping at millions of online stores.

Who can benefit from getting the Capital OneĀ® QuicksilverOneĀ® Cash Rewards Credit Card?

The Capital OneĀ® QuicksilverOneĀ® Cash Rewards Credit Card might not be suitable for everyone, but it is a great start if you want to work on building up your credit. With a smart and careful use, especially by paying off your balance on-time and in full, you can earn cash back rewards, while building your credit score.

It is for people who want a low-effort card, which also offers them cash-back rewards, but their credit score is not enough to qualify for other, better reward cards. Although the annual fee might be a drawback, youā€™ll ā€œjustifyā€ this cost by using the card to improve your credit score. After that, youā€™ll be able to move on to better credit cards with a credit limit increase.

Are there any other benefits?

Of course. Weā€™ll list some of them:

  • CreditWise - Capital Oneā€™s free tool that enables you to monitor your VantageScoreĀ® 3.0 credit score. Plus, it includes other useful features like details on the factors that may affect your credit health.
  • $0 fraud liability ā€“ if your card gets stolen, you wonā€™t be held responsible for any charges that you didnā€™t authorize.
  • Automatic credit line reviews ā€“ after having this card for 6 months you will be considered for a higher credit line, which means youā€™ll be able to apply for cards with better benefits and no annual fees.
  • Capital One assistant (Eno) ā€“ with this feature you will get an alert anytime something happens with your account. You can also ask questions and get answers right away.
  • 24/7 customer service ā€“ customer service assistants are there for you at any time of the day or night.
  • Tap to pay ā€“ you can use your QuicksilverOneĀ® credit card for contactless payments.
  • Emergency card replacement ā€“ if your card gets lost or stolen, you can get an emergency replacement card.

Conclusion

As we previously said, the Capital OneĀ® QuicksilverOneĀ® Cash Rewards Credit Card is a great option for anyone who doesnā€™t have an excellent credit score, but still wants to enjoy cash-back rewards with a flat cash-back rate on all purchases. The rewards are redeemable at any amount and anytime. If you spend $2,600 a year ($217 per month), youā€™ll be able to justify the $39 annual fee in respect of cash back earned.

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Also, this card is the way to go for any young adult who wishes to build their credit score.

You will be automatically considered for a higher credit score limit after only 6 months. Of course, if you make all your payments on time.

In conclusion, this is the card to go for if you want great perks and benefits with an average credit score.

FAQ

What is the customer service phone number for Capital One QuicksilverOne Cash Rewards Credit Card?

Customer service is available to you 24/7 at the following number: 1-800-CAPITAL (1-800-227-4825).

How to check my application status for Capital One QuicksilverOne Cash Rewards Credit Card?

You can easily check the status of your application anytime, by calling 1-800-903-9177. Of course, you will be notified of the decision in writing within 7 to 10 days of your application.
Hanna VolkavaHanna Volkava

Financial and product expert

hv@myfin.us
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