Is the Capital One QuicksilverOne Cash Rewards card worth it?
The Capital One QuicksilverOne Cash Rewards Credit Card is a solid choice if you have fair credit. Although it has an annual fee, this card offers a simple cash-back program with unlimited earning potential and flexible redemption options. You’ll also get access to Capital One CreditWise®, which helps you monitor your credit and identify ways to shore up your score. As you use the card responsibly, the bank will automatically consider you to increase your credit limit.
Pros and cons of Capital One Quicksilver card
Learn more about Capital One QuicksilverOne card
Capital One QuicksilverOne credit card rewards
Rewards are one of the biggest perks of the QuicksilverOne from Capital One. They’re easy to earn, and you can choose from a variety of redemption options.
Earn Capital One QuicksilverOne Cash Rewards credit card rewards
The QuicksilverOne credit card has a straightforward cash rewards system. You don’t need to worry about keeping track of reward tiers and categories — for every purchase, you earn 1.5% cash back. There’s one exception: when you book hotels or rental cars in the Capital One Travel portal, you’ll earn 5% cash back. Rewards are unlimited, and they never expire while the account is open.
If you charge a significant percentage of your expenses, this card may offer a good value. Spend $1,000 every month for a year, and you’ll get $180 in cash back. Just make sure to keep an eye on the interest charges.
Redeem Capital One QuicksilverOne Cash Rewards credit card rewards
Capital One offers several ways to redeem your cash-back rewards:
The QuicksilverOne card also offers an automatic redemption option. With this feature, Capital One will automatically redeem your rewards during a specific month each year or when the value reaches your chosen threshold.
Capital One QuicksilverOne credit card benefits
The QuicksilverOne card comes with an array of benefits:
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No required deposit. You can get the QuicksilverOne card without paying a security deposit.
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CreditWise®. QuicksilverOne includes access to CreditWise®, a tool that helps you track your credit health.
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Fraud protection. If you lose your card, or if it’s stolen, you’re not liable for any fraudulent charges that result.
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Emergency replacements. Capital One will send you a replacement if your card is lost or stolen.
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Mastercard ID Theft Protection™. This free service scans for data breaches that include your personal information and lets you know quickly, so you can help prevent or offset the effects of identity theft.
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Uber One membership. For a limited time, the QuicksilverOne card gives you a free Uber One membership for six months. You must sign up for the service using your card, and Capital One will give you statement credits to cover the monthly fee.
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Capital One Travel. With QuicksilverOne, you have access to the Capital One Travel portal. There, you can book hotels, flights and rental cars; some bookings will earn 5% cash back.
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Cafe discounts. When you use your QuicksilverOne card to buy a beverage at a Capital One Café, you’ll get 50% off.
Capital One QuicksilverOne credit card fees, rates & limit
As you evaluate the QuicksilverOne card, fees and interest rates are key considerations. Before you apply, make sure you’re comfortable with the terms.
Capital One QuicksilverOne Cash Rewards card fees
The QuicksilverOne credit card has an annual fee of $39. To put that in perspective, you’d need to charge at least $2,600 to earn that much in 1.5% cash rewards. However, unlike secured credit cards designed for people with fair credit, the QuicksilverOne doesn’t require a security deposit.
When you use the card for cash advances, Capital One charges the greater of $5 or 5% of the advance. There are no foreign transaction fees, which can save you a significant amount of money if you travel abroad frequently. Thinking about transferring a balance? You can do so without paying a fee.
Capital One QuicksilverOne Cash Rewards card interest rates
The QuicksilverOne credit card has a variable annual percentage rate (APR) of 30.74%. That’s quite high, but you can avoid excessive interest charges by paying off your balance each month. There are no introductory offers in terms of APR, and any balance transfers will be charged at the same 30.74% rate.
Here’s an overview of the QuicksilverOne interest rates:
Regular APR |
Purchase Intro APR |
Balance Transfer APR |
30.74% |
N/A |
30.74% |
Capital One QuicksilverOne Cash Rewards card credit limit
If you’re approved for the QuicksilverOne, your initial credit limit will depend on the information you provided in the application.
Here’s the best part: as soon as six months after you open the account, you’ll be eligible for an automatic credit line review. If the bank determines it’s appropriate, it will increase your QuicksilverOne credit limit. You may be able to increase your odds by paying your monthly statements on time and improving your credit score.
How the Capital One QuicksilverOne Cash Rewards card compares
Compared to other credit cards for fair credit, the QuicksilverOne card is a strong contender. It allows you to access credit without making a deposit, and it comes with free credit-monitoring tools and automatic limit increases. Unlike many other cards in this category, the QuicksilverOne offers cash-back rewards.
On the negative side, this credit card does come with a high APR and a $39 annual fee. The fee isn’t unusually high, but it is a consideration. If you tend to carry a high balance from month to month, you could end up paying a significant amount in interest.
Capital One QuicksilverOne Cash Rewards Credit Card vs. Capital One Platinum Credit Card
The Capital One Platinum Credit Card may be a good option if you have fair credit, but you don’t care about rewards. In fact, if you don’t plan to charge at least $217 per month or $2,600 per year — the amount you need to offset the QuicksilverOne’s annual fee with rewards — you may be better off choosing the Platinum card. This card has no annual fee, and it offers the same APR, credit line reviews and CreditWise® access.
Read our full Capital One Platinum card review
Is the Capital One QuicksilverOne Cash Rewards card right for me?
The Capital One QuicksilverOne cash rewards card could be the right fit if you want to earn rewards while you’re expanding your credit profile or you’re looking for a card to build credit. This can be the case if you’re new to the world of credit cards and your credit history is less than three years old. You might also apply if you’ve defaulted on a loan in the past few years.
The APR is high, which is standard for this type of card. However, if you can get approved for a card with a good interest rate — even if it doesn’t offer rewards — it may be a better option.
You might also consider the QuicksilverOne if you travel regularly but don’t qualify for higher-tier travel credit cards. As long as you book through Capital One Travel, you can get 5% back in cash rewards for rental cars and hotels.
How do I apply for the Capital One QuicksilverOne card?
You can learn more about the Capital One QuicksilverOne card and apply online.
If your credit is considered fair, you can apply for the Capital One QuicksilverOne card. While the bank doesn’t publish specific credit score requirements, it does note that “fair” often includes FICO credit scores ranging from 580 to 669. If your score falls in this range and you have a reliable income, you have a decent chance of being approved. Capital One also considers other factors, including your total debt.
Not sure if you qualify? Capital One offers a preapproval process that lets you know your odds of acceptance. If the bank determines that the likelihood is low, you can exit the process without impacting your credit score. If you’re likely to be approved, you can complete the rest of the application and authorize the bank to do a hard credit inquiry.
Applying for the QuicksilverOne card takes just a few minutes; you can complete the process online. Expect to provide details about your residence, income, employment and financial obligations.
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