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Capital One® QuicksilverOne® Cash Rewards Credit Card Review

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At a Glance
capital one quicksilver one credit card
3.9 / 5
Rating

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Capital One® QuicksilverOne® Cash Rewards Credit Card

  • Early Spend Bonus: None
  • Rewards: Unlimited 1.5% cash back on all purchases; Redeem for cash in any amount and rewards don’t expire as long as your account remains open
  • Intro APR: None
  • Fees: $0 foreign transaction fees; 3% cash advance fee
  • Annual Fee: $39
  • Credit Needed: Average

Advertiser Disclosure: This post includes references to offers from our partners. We receive compensation when you click on links to those products. However, the opinions expressed here are ours alone and at no time has the editorial content been provided, reviewed, or approved by any issuer.

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 the Capital One Quicksilver Cash Rewards Credit Card, which is basically a no-annual-fee version of this card for consumers with good to excellent credit.

Other popular alternatives include the Citi Double Cash Card and the Chase Freedom Credit Card, though both of those cards are also reserved for consumers with good to excellent credit.

Compare this card to other cash back credit cards.

Key Features

Earning and Redeeming Rewards

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.

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 $39.

Capital One CreditWise

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.

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
  • Complimentary collision and damage insurance on rental cars reserved with the card.

Credit Required

This card requires average or fair credit. Capital One tolerates some blemishes on applicants’ credit histories. After you make your first five payments on time, Capital One may grant you access to a higher credit line.

Advantages

  1. Accepts Applicants With Average Credit. One of QuicksilverOne’s biggest benefits is its relatively lax credit standards for new applicants, which makes it ideal for cardholders looking to build or rebuild credit. 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.
  2. 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.
  3. 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.
  4. 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, Citi Double Cash, American Express EveryDay, and Blue Cash Everyday.
  5. 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, Chase Freedom requires manual activation for their quarterly 5% cash back categories.

Disadvantages

  1. 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 Chase FreedomCiti Double Cash, and many others.
  2. No Early Spend Bonus. Unlike many cash back cards, the QuicksilverOne Card doesn’t offer an early spend bonus. That’s a big disadvantage for new cardholders in search of an early cash boost. For a generous, attainable early spend bonus, look to Chase Freedom, which offers $150 when you spend $500 within 3 months of account opening.
  3. High Regular APR. QuicksilverOne has a very high regular APR – well above the cash back category’s average. Cards like BankAmericard Cash Rewards have much more manageable APRs for cardholders who like to carry balances.
  4. No Intro APR Promotion. Unlike the regular Quicksilver Card, Capital One’s QuicksilverOne Card doesn’t have an introductory 0% APR promotion for purchases or balance transfers. That’s a drawback relative to many other cash back cards, including Citi Double Cash and Chase Freedom. Both give at least 15 months for purchases and balance transfers.

Compare this card to other cash back credit cards.

Final Word

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.

Verdict
capital one quicksilver one credit card
3.9 / 5
Rating

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Capital One® QuicksilverOne® Cash Rewards Credit Card

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.

Brian Martucci
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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