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- 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 580 or higher.
Like its cousin the Capital One Quicksilver Cash Rewards Credit Card, the Capital One QuicksilverOne Cash Rewards Credit Card is a simple cashback card, albeit one for those with fair credit or a limited credit history. You'll earn 1.5% cash back on all purchases, 5% back on hotels and car rentals booked through Capital One Travel, and Capital One will automatically consider moving you to a higher credit limit after six months of responsible card use. It requires a small annual fee of $39 and carries a purchase APR of 30.74% variable. You can apply with a credit score of 580 or higher.
Given its status as a credit-building card, the Capital One QuicksilverOne Cash Rewards Credit Card is a strong pick for students, people new to the US or others looking to build their credit while reaping some rewards on the side. Use this card wisely and Capital One could very well upgrade you to the annual fee-free Capital One Quicksilver Cash Rewards Credit Card.
finder.com's rating: 4.3 / 5
|1.5% cash back on every purchase, every day and 5% on hotels and rental cars booked through Capital One Travel (terms apply)
|Balance transfer APR
|30.74% variable Balance Transfer Fee applies to balances transferred at a promotional rate (0% at the Transfer APR, 4% of the amount of each transferred balance that posts to your account at a promotional APR that Capital One may offer to you)
|Minimum credit score
|Balance transfer fee
|Balance Transfer Fee applies to balances transferred at a promotional rate (0% at the Transfer APR, 4% of the amount of each transferred balance that posts to your account at a promotional APR that Capital One may offer to you)
|Cash advance rate
|Cash advance fee
|$5 or 5% of the cash advance amount, whichever is greater
|Cash advance fee description
|5% of the amount of the cash advance, but not less than $5
|Foreign transaction fee
|Interest free period
|Up to 25 days
|Late payment fee
|Up to $40
|Additional cardholder fee
|Rates & fees
|Terms apply, see rates & fees
Thanks to Capital One’s automated preapproval system, you’ll usually get a decision on your application within 60 seconds. In some cases, though, it can 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.
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:
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.
|Where you spend:
|The amount you spend:
|Cash back earned:
|Other everyday purchases
With annual spending similar to our example, you would earn $156 each year once we deduct the annual fee of $39.
You have to spend $2,600 per year — or $217 per month — to offset the annual fee.
Cashback cards for fair credit are relatively rare on the market, so you won’t find many quite like this card. However, you can get a better sense of how this card stacks up to the heavier hitters on the market. Select up to 4 cashback cards and click Compare to look at them side-by-side.
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 has accredited Capital One with a rating of A- as of May 2023. However, it sports a 1.13 out of 5 when it comes to a customer rating from an average of nearly 500 reviews. It fares little better on Trustpilot, earning a 1.3 rating out of 5 as of May 2023.
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:
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.
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 responsible use, Capital One will automatically consider you for 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.
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Our team evaluates credit cards to determine their value against similar cards on the market.
We rank card types — travel, cash back, business — on a set of factors that are most relevant to that type of card. We create these rankings to help you narrow down a credit card that best suits your spending and budget.
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