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Capital One® QuicksilverOne® Cash Rewards Credit Card review
Kliment Dukovski is a writer for finder.com, working on credit cards, money transfers, home loans and more. He aims to deliver honest and accurate information to help you make the right financial decisions. Before joining Finder, he ghostwrote guides and articles on foreign exchange, stock market trading and cryptocurrencies. When he's not writing about finance-related subjects, he writes sci-fi.
The basics
This is a simple cashback card for those with fair credit or a limited credit history, such as students or people new to the US. 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 580 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 cashback rewards can I earn with Capital One® QuicksilverOne® Cash Rewards Credit Card?
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
With annual spending similar to our example, you would earn $156 each year once we deduct the annual fee of $39.
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 26.96% 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.
If you have fair credit you could be stuck with the minimum credit limit of . 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 six to 20 months, but this card has no intro APR period.
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 580 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 Capital One® QuicksilverOne® Cash Rewards Credit Card 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 Capital One® Quicksilver® Cash Rewards Credit Card. 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 Capital One® QuicksilverOne® Cash Rewards Credit Card Card
Learn more about how to apply for the Capital One® QuicksilverOne® Cash Rewards Credit Card.
How long will it take to get my Capital One® QuicksilverOne® Cash Rewards Credit Card 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 seven 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 800-227-4825 if you have any questions.
How do I redeem rewards from Capital One® QuicksilverOne® Cash Rewards Credit Card?
You can either call the rewards center or sign in to your online Capital One account and request your cash back in the form of:
Statement credit
Checks
Credit for previous purchases
Gift cards
You can also set up an automatic redemption preference for a specific time each calendar year or when you reach a specific threshold — $25, $50, $100 or $200.
Bottom line
This is an excellent card for those with limited credit history and for those with fair credit. You’ll 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 Capital One® Quicksilver® Cash Rewards Credit Card.
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.
Frequently asked questions
Yes, the card has a $39 annual fee, which you can offset by spending at least $217 per month.
Yes. Sign up with Capital One’s online banking. Once you’re registered, you can view your account details, pay bills online and more.
Yes, you can set up automatic monthly deductions from an account that will pull on the date of your choice.
Yes, you can earn rewards as long as you pay the monthly minimum payment by the due date on your statement.
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