Capital One QuicksilverOne Review: Above-Average Rewards for Average Credit
The Bottom Line
4.7
If you put more than $2,600 a year on this card — around $220 a month — this is a top-notch card, as the rewards will make up for the fee.
Rates, fees and offers
Annual fee
$39
Rewards rate
1.5%-5%
Bonus offer
None
Intro APR
N/A
Ongoing APR
APR: 29.99% Variable APR
Cash Advance APR: 29.99%, Variable
Balance transfer fee
Balance Transfer Fee applies to balances transferred at a promotional rate
Foreign transaction fee
0%
More details from Capital One
- Earn unlimited 1.5% cash back on every purchase, every day
- No rotating categories or limits to how much you can earn, and cash back doesn't expire for the life of the account. It's that simple
- Be automatically considered for a higher credit line in as little as 6 months
- Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges
- Help strengthen your credit for the future with responsible card use
- Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply
- Monitor your credit score with CreditWise from Capital One. It's free for everyone
- Check out quickly and securely with a contactless card, without touching a terminal or handing your card to a cashier. Just hover your card over a contactless reader, wait for the confirmation, and you're all set
Pros and Cons
Pros
Qualify with average credit
High rewards rate
No foreign transaction fees
Cons
Has annual fee
High APR
Detailed Review
If you have average credit but are looking for a credit card that still rewards spending, it doesn't get much simpler than the Capital One QuicksilverOne Cash Rewards Credit Card. This card offers unlimited cash back on all purchases, every time you use it.
Capital One QuicksilverOne Cash Rewards Credit Card: Basics
Card type: Cash back and fair credit.
Annual fee: $39 (see rates and fees).
Sign-up bonus: None.
Rewards: Unlimited 1.5% cash back on all purchases, plus earn unlimited 5% cash back on hotels and rental cars booked through the Capital One Travel portal.
Interest rate: The ongoing APR is 29.99% Variable APR.
Capital One QuicksilverOne Cash Rewards Credit Card vs. Capital One Quicksilver Cash Rewards Credit Card
The Capital One QuicksilverOne Cash Rewards Credit Card gives you 1.5% cash back on nearly every purchase. This is the same rewards rate you’ll get with the regular version of this card, the Capital One Quicksilver Cash Rewards Credit Card — which is available to those with excellent credit (see rates and fees).
However, there are some key differences between the two cards:
The Capital One QuicksilverOne Cash Rewards Credit Card has an annual fee of $39, while the version for those with excellent credit charges an annual fee of $0.
Holders of the Capital One Quicksilver Cash Rewards Credit Card are eligible for the following sign up bonus: Earn a one-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening. The Capital One QuicksilverOne Cash Rewards Credit Card, on the other hand, offers no sign-up bonus.
The Capital One Quicksilver Cash Rewards Credit Card also comes with a promotional interest-free period for purchases and balance transfers. The Capital One QuicksilverOne Cash Rewards Credit Card has no 0% introductory APR period.
Capital One offers a suite of Quicksilver-branded cards for differing credit scores. For example, the issuer offers a Quicksilver Rewards card for consumers with good credit — which doesn’t charge an annual fee but doesn’t come with an introductory APR offer or a sign-up bonus. Capital One also offers a Quicksilver product for college students, as well as a secured version for those looking to build or establish credit.
Compare to Other Cards
Benefits and Perks
Rewards
Some cards aimed at those with fair credit don’t come with rewards. But the Capital One QuicksilverOne Cash Rewards Credit Card earns respectable cash back. Holders will earn a simple 1.5% back on nearly everything, which means there are no bonus categories to keep track of. Plus, an unlimited 5% cash back on hotels and rental cars booked through Capital One Travel.
And unlike some other cash-back cards, the Capital One QuicksilverOne Cash Rewards Credit Card has no restrictions on how and when you can redeem those rewards. Cardholders can redeem in any amount at any time.
A potential credit limit increase
Cardholders may be automatically considered for a higher credit line after at least six months of having the card. This means that with responsible card usage and improved credit, the maximum spend amount on your card may be increased. This allows for more wiggle room to keep credit utilization low, which can positively impact your credit score.
No security deposit
For consumers with poor or average credit, secured credit cards are sometimes the best card options. While secured cards can help to build up credit, they typically require upfront cash security deposits that act as collateral.
With the Capital One QuicksilverOne Cash Rewards Credit Card, however, holders are not required to put down any money once they are approved. This makes the card less costly upfront than some alternative credit card options.
Drawbacks and Considerations
An annual fee
Although the card’s $39 annual fee isn't too lofty, it is still an added cost (see rates and fees). You have to spend at least $2,600 a year, or an average of $217 per month, with this card to make up for the yearly cost. Use our calculator to see how much you could earn.
If paying an annual fee is not worth it for you, consider these alternative options that don’t charge one:
Capital One Platinum Credit Card: This card from the same issuer charges an annual fee of $0 but offers no rewards. It accepts applicants with average credit and is a good card to use to build a strong credit history in preparation for moving up to a better card (see rates and fees).
Chase Freedom Rise®: If you're building credit, not rebuilding it, the AF-annual-fee card could be a good option. It earns 1.5% cash back on purchases. However, if you have poor credit (instead of no credit), you might want to look elsewhere.
If you want to know what other cash-back credit cards might be available to you, consult our list of best credit cards.
How To Decide If It's Right For You
The Capital One QuicksilverOne Cash Rewards Credit Card is a low-effort card that offers unlimited cash back for people who might not qualify for other good rewards cards. The annual fee is a consideration, but if you're using this card wisely — as a stepping stone to better credit and better credit cards — someday you'll be able to put that cost behind you.
This card charges an annual fee of $0 and earns 1.5% back on all purchases. It accepts applicants with poor credit scores and above and doesn’t require an upfront security deposit.
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Methodology
NerdWallet reviews credit cards with an eye toward both the quantitative and qualitative features of a card. Quantitative features are those that boil down to dollars and cents, such as fees, interest rates, rewards (including earning rates and redemption values) and the cash value of benefits and perks. Qualitative factors are those that affect how easy or difficult it is for a typical cardholder to get good value from the card. They include such things as the ease of application, simplicity of the rewards structure, the likelihood of using certain features, and whether a card is well-suited to everyday use or is best reserved for specific purchases. Our star ratings serve as a general gauge of how each card compares with others in its class, but star ratings are intended to be just one consideration when a consumer is choosing a credit card. Learn how NerdWallet rates credit cards.
