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 on all purchases. Cash back rewards can be redeemed for a variety of cash equivalents, including paper checks and statement credits.
It is worth noting that although Capital One QuicksilverOne comes with an introductory purchase APR period and some nice cardholder perks, it’s among a relative handful of cash back credit cards without a sign-up 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 5 months following approval, you’re rewarded with a higher credit limit.
The QuicksilverOne card is similar to the Capital One Quicksilver Cash Rewards Card, which is basically a no-annual-fee version of this card. Popular alternatives include Citi Double Cash, BankAmericard Cash Rewards, members of the Discover it family, Chase Freedom, Barclaycard CashForward, and American Express Blue Cash Everyday.
- Sign-up Bonus: There is no sign-up bonus for this card.
- Earning and Redeeming Rewards: The Capital One QuicksilverOne card earns an unlimited 1.5% cash back on all purchases. 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.
- Introductory APR: This card offers a 0% purchase APR for 9 months.
- Regular APR: Once the introductory period ends, the purchase APR is a variable 23.24%, depending on prevailing interest rates. The balance transfer and cash advance APRs are both 23.24% from day one. There is no penalty APR.
- Important Fees: 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 the greater of $10 or 3% of the advanced amount. Late payments cost $35 apiece.
- FICO Score and Credit Tracker: Every month, you automatically receive a free FICO score with your online or paper credit card statement. You can also access your score at any time through your online account dashboard. Additionally, this card comes with access to Capital One Credit Tracker and related credit-building tools and content.
- Additional Cardholder Benefits: 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 purchased with the card.
- Credit Required: This card requires average or fair credit. Capital One tolerates some blemishes on applicants’ credit histories.
- Accepts Applicants With Average Credit. One of QuicksilverOne’s biggest benefits is its relatively lax credit standards for new applicants. Even if you have some dings on your credit profile, your application has a good chance of being accepted. That’s certainly not the case for the regular Quicksilver card, nor for such competitors as Citi Double Cash and Barclaycard CashForward.
- Rewards Can Be Redeemed in Any Amount. Capital One doesn’t impose any limits on how or when you can manually redeem accumulated cash back – you can do so in any amount, at any time. That’s not the case for BankAmericard Cash Rewards, which imposes a $25 minimum redemption threshold.
- No Balance Transfer Fee or Foreign Transaction Fee. QuicksilverOne doesn’t charge balance transfer fees or a foreign transaction fee. Together, these two breaks can significantly reduce the cost of using this card, and render QuicksilverOne more attractive to people who travel internationally or need to transfer high-interest balances from other cards.
- No Penalty APR. QuicksilverOne doesn’t impose penalty interest. That’s great news for cardholders who occasionally miss payments, and a big differentiator relative to BankAmericard Cash Rewards, American Express EveryDay and Blue Cash Everyday, and Citi Double Cash.
- No Rotating Spending Categories or Manual Activation. QuicksilverOne’s cash back system couldn’t be simpler: The card earns a flat, unlimited 1.5% cash back on all purchases. You don’t have to worry about minding tiered spending categories or quarterly rotating categories, and there’s no manual activation hoop to jump through every 3 months. Notably, Discover it and Chase Freedom require manual activation for their quarterly 5% cash back categories.
- Has an Annual Fee. Though QuicksilverOne’s $39 annual fee is modest in the grand scheme of things, it’s still a disadvantage relative to the many cash back cards that have no annual fees at all. These include Discover it, Chase Freedom, Citi Double Cash, and many others.
- No Sign-up Bonus. Unlike many cash back cards, the QuicksilverOne card doesn’t offer a sign-up bonus. That’s a big disadvantage for new cardholders in search of an early cash boost. For a generous, attainable sign-up bonus, look to Chase Freedom, which offers $150 when you spend $500 within 3 months of account opening.
- High Regular APR. Every approved QuicksilverOne cardholder pays the same interest rate: 23.24% APR, variable with prevailing rates. That’s as high or higher than the upper end of most other cash back cards’ APR ranges. For instance, the Discover it‘s interest rates range from 11.24% into the low 20% range, while BankAmericard Cash Reward Card’s range falls between 13.24% and 23.24%.
- Limited Intro APR Promotion. QuicksilverOne’s 0% intro APR promotion only applies to purchases, and only runs for 9 months. That’s shorter than promotions offered by many other cash back cards, including Citi Double Cash and Chase Freedom, both of which give at least 15 months for purchases and balance transfers.
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 Quicksilver, which has a lower regular APR and no annual fee.
Learn more about this card and find out how you can apply here.