Earn unlimited 1.5% cash back on all purchases while building or rebuilding your credit.
30-second take
- Get this card if you have fair credit and you want to earn cash back.
- Pick something else if you want higher cash back, or if you want an intro APR period.
- Apply with an average credit score of 630 or higher.
| Product Name | QuicksilverOne® Rewards |
|---|---|
| Card Type | Visa |
| Annual Fee | $39 |
| APR (Annual Percentage Rate) for Purchases | 22.97%, 24.97% or 26.97 variable |
| Cash Advance Rate | 26.97% variable |
| Cash Advance Fee | $10 or 3% of the cash advance amount, whichever is greater |
| Interest Free Period | Up to 25 days |
| Late Payment Fee | Up to $38 |
| Additional Cardholder Fee | $0 |
| Rates & Fees | Rates & Fees |
| Minimum Age | 18 years of age |
|---|
The Basics
This is a simple cashback card for those with fair credit and those with limited credit history, such as students, people new to the US or those who’ve been authorized users to other’s credit cards. With this card, you’ll build your credit score while earning cash back at the same time.
The perks
Cash back.
Get unlimited 1.5% cash back on everything you buy.
Access to higher credit limits.
Once you make on-time payments for five consecutive months, you’re eligible for a higher credit line. And if you keep paying on time, Capital One may offer you an upgrade to a better card.
You can apply with a fair credit.
You can get the card with a credit score of 630 or higher, and you can build your credit to get a better card. Since Capital One reports your activity to the major credit bureaus, try to make your payments on time and in full to reap the full benefits.
How much cash back rewards can I earn with the Quicksilver® from Capital One® ?
| Where you spend: | The amount you spend: | Cash back earned: |
| Dining | $2,000 | $30 |
| Gas | $2,000 | $30 |
| Groceries | $3,000 | $45 |
| Everything else | $6,000 | $90 |
| Total | $13,000 | $195 |
Suppose your annual spending is similar to our example. Once we deduct the annual fee of $39, you would earn $156 each year.
How much do I have to spend to make the annual fee worth it?
You have to spend $2,600 per year — or $217 per month — to offset the annual fee.
You’ll also like …
No foreign transaction fees.
You won’t pay foreign transaction fees if you use your card abroad. Other cards come with up to a 3% fee for each transaction made outside of the US.
No penalty APR.
You’ll only pay a fee for late payments. With other cards, a single late payment could land you with a penalty APR of up to 31%, which can apply to your account indefinitely.
CreditWise.
Get unlimited access to your credit score from TransUnion. This can help you in your credit-building process as you can monitor your progress whenever you want.
Fraud coverage.
If your card is lost or stolen, you get $0 fraud liability for unauthorized purchases.
Platinum Mastercard benefits.
Get extended warranty, travel accident insurance, car rental insurance, 24/7 travel and roadside assistance and price protection with Platinum Mastercard.
What to watch out for
Annual fee.
The card comes with a $39 annual fee.
High APR.
The card comes with a variable APR of 22.97%, 24.97% or 26.97% for purchases and transfers. This is high, considering the average APR on other cards is 16%. To avoid this, pay your balances on time.
Low minimum credit line.
The minimum credit line you can get with this card is $300. But if you pay on time for five consecutive months, you may be eligible for a credit line increase.
No signup bonus.
Most cards offer a signup bonus once you meet certain spending criteria. Unfortunately, this card doesn’t offer any bonuses.
No intro APR period.
Other cards offer an intro APR period on purchases and balance transfers that last from 6 to 20 months, but this card has no intro APR period.
Consider other cards if …
You want to build your credit.
The OpenSky® Secured Visa® Credit Card can help you build your credit with up to a $3,000 credit line, depending on how much you deposit. The card reports to the three largest credit bureaus — so with responsible spending, you can quickly build your credit and get an unsecured card.
Alternatively, consider the Discover it® Secured Credit Card where you build your credit and get 2% back on dining and gas for up to $1,000 in combined purchases per quarter. You’ll get 1% back on everything else you buy and on the accelerated categories after you’ve reached the quarterly limit.
You want higher cash back.
The PenFed Power Cash Rewards Visa Signature® Card offers unlimited 1.5% cash back on everything you buy, and you’ll get 2% back instead if you’re PenFed Honors advantage member.
If you mostly spend on dining and groceries, the Savor® Rewards from Capital One® could be a better choice. For families that spend heavily on groceries and gas, the Blue Cash Preferred® Card from American Express from American Express will earn you more cash back.
You want intro APR period.
The U.S. Bank Visa® Platinum Card offers one of the longest intro APR periods on balance transfers and purchases. The Citi Simplicity® Card or the BB&T Bright® Credit Card could also be a good choice if you want to transfer your balance from another card with a high APR.
Compare cash back credit cards
What should I know before I apply?
To apply for the card, you must be at least 18 years old and a US citizen or permanent resident of the US.
In your application, you’ll need to provide personal and financial details, such as:
- Full name and contact information.
- Date of birth and Social Security number.
- Financial information and employment status.
During your application, you may choose to receive alerts when your payments are due. You can also select to receive further communication in Spanish if that’s your preferred language.
What credit score do I need?
You’ll have a better chance at approval if you apply with a credit score of 630 or higher. Applying with a higher credit score will earn you a lower APR and a higher credit limit.
What do customers say about the Quicksilver® from Capital One® Card?
Most customers with fair credit scores are happy with their approval and the credit line increases they received after months of timely payments. Some even claim Capital One offered them an upgrade to the Quicksilver® from Capital One®. The only complaint about the card is the high APR. But if you pay your balance in full and on time, this shouldn’t be a problem.
The Better Business Bureau rates Capital One with an A+.
How to apply for the Quicksilver® from Capital One® Card
- Go to the Capital One website and find the QuicksilverOne® card from the list of cashback cards for average credit, then click Apply now.
- Complete the application with personal and financial details.
- Review your application and submit it.
How long will it take to get my Quicksilver® from Capital One® card?
Thanks to Capital One’s automated preapproval system, you’ll usually get a decision on your application within 60 seconds. It can sometimes take up to 10 business days to hear back, and you may need to submit additional information.
Upon approval, you’ll get your card and welcome materials in the mail within 7 to 10 business days.
I got the card. Now what?
- Download Capital One Mobile app. Use it to pay your bills or send money to your friends and family. With the app, you can monitor your card activity, redeem rewards, lock or unlock your card if you lose it and more.
- Pay on time. Your due date is at least 25 days after the close of each billing cycle. If you make your payments in full by then, you’ll avoid the high interest that comes with this card.
- Customer service. Call Capital One’s customer service at 1-800-227-4825 if you have any questions.
How do I redeem rewards from Quicksilver® from Capital One®?
Log on to your Capital One account or call the rewards center to request your cash back in the form of:
- Statement credits
- Checks
- Credits for previous purchases
- Gift cards
You can also set up an automatic redemption preference at a specific time each calendar year or when a specific threshold — $25, $50, $100 or $200 — has been reached.
Bottom line
This is an excellent card for those with limited credit history and for those with fair credit. You’ll get to earn unlimited cash back on everything you buy — and with on-time payments, Capital One may give you a credit line increase or upgrade you to the no-annual-fee Quicksilver® from Capital One®.
But if you want a card with signup bonuses, no annual fee or higher cashback rewards, explore other rewards credit cards, or if you want to build your credit, check out other credit-building cards to find the card that best suits your needs.
