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QuicksilverOne from Capital One Review – Covers Its Fee Once You Spend $2,600 a Year

Andrew SchrageAndrew Schrage
QuicksilverOne from Capital One
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QuicksilverOne from Capital One

  • Best for: Fair-credit borrowers who want no deposit, charge more than $2,600 a year, and pay in full
  • What Sets It Apart: Flat 1.5% cash back with no security deposit; 5% on Capital One Travel bookings
  • Cost: $39 annual fee; 29.24% variable APR; no foreign transaction fee
  • Features: Automatic credit line reviews in as little as 6 months; account reported to the credit bureaus; eligibility check with no credit score impact
  • Pros: No deposit; no rotating categories or cap; cash back that doesn’t expire while the account is open
  • Cons: Fee takes $2,600 a year in spending to earn back; no published starting credit line; high APR on carried balances
Just the Tip:

Open QuicksilverOne from Capital One if you have fair credit, want no security deposit, and will charge more than $2,600 a year, the point where its 1.5% cash back covers the $39 annual fee. If you’ll spend less, the no-fee Capital One Platinum is the cheaper card for building credit.

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Capital One offers the QuicksilverOne to people with fair credit, which FICO puts at scores of 580 to 669, and asks no security deposit. If you list no assets, your monthly income must be at least $425 more than your rent or mortgage payment, or $215 more for students.

Key Features

  • 1.5% cash back on every purchase, with 5% on Capital One Travel bookings of hotels, vacation rentals, rental cars, and activities
  • $39 annual fee
  • 29.24% variable annual percentage rate (APR) on purchases, balance transfers, and cash advances
  • Credit line based on your application and ability to pay, with automatic reviews for a higher line in as little as 6 months
  • Account reported to the credit bureaus regularly

Pros

  • No security deposit to set aside
  • An eligibility check before you apply, with no credit score impact
  • No rotating categories to activate and no cap on cash back
  • Cash back that doesn’t expire while the account stays open
  • No foreign transaction fee on purchases outside the U.S.

Cons

  • A $39 annual fee that takes $2,600 a year in spending to earn back, so $500 a month leaves you $51 a year after the fee
  • Costs $39 a year more than Capital One’s Quicksilver Secured, which pays the same 1.5% but takes a refundable deposit of at least $200
  • No published starting credit line, and Capital One says your cash back depends on your limit
  • Interest of about 2.4% a month at the 29.24% APR on any balance you carry, more than the 1.5% your purchases earn

The QuicksilverOne suits fair-credit borrowers who charge more than $2,600 a year, pay in full, and don’t want to put down a deposit. Borrowers who charge less build credit for no annual fee on the Capital One Platinum, and those whose credit already qualifies for the Quicksilver get the same 1.5% without the fee.

Learn more about QuicksilverOne from Capital One or see how it compares to the best credit cards for bad credit.

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