Capital One QuicksilverOne Review
The Capital One QuicksilverOne Cash Rewards Credit Card enables you to earn rewards on every purchase you make. The reward program is simple and straightforward–you’ll earn 1.5% cash back on all purchases. There are no rotating or bonus categories to worry about, and no complicated miles award charts to decipher.
You can also earn up to $500 each year in statement credits when you refer your friends to Capital One and they are approved for a credit card. For each approved referral, you can earn $100 in statement credits, up to 5 referrals each year, giving you $500 in statement credits per year. The reward usually arrives in your account within 4 weeks after approval.
Redeeming rewards is as easy as earning them. Card members can redeem their rewards for cash, a statement credit, or gift cards. If you want cash, Capital One will send you a check. You can apply the rewards as a statement credit or to cover specific purchases. For gift cards, points are generally worth 1 cent each.
Potential Rewards Value
The rewards depend entirely on how much is charged to the card. At a 1.5% reward rate, the calculation is easy. According to the Bureau of Labor Statistic’s most recent data, the average household spends approximately $1,750 a month on expenses that can be charged to a credit card (e.g., food, transportation, entertainment, clothing). At this spending rate, the Capital One QuicksilverOne Cash Rewards Credit Card would generate $26.25 a month in cash back rewards.
Pros & Cons
- Offers 1.5% cash back
- Low credit score requirement
- $0 foreign transaction fees
- Can help build credit
- High APR
- $39 annual fee
- No signup bonus
Features & Benefits
|Security||Credit Score Monitoring, EMV Chip Enabled, Fraud Monitoring, Zero Liability, Alerts, Virtual Card Numbers, Card Lock|
|Contactless Payments||Tap to Pay, Apple Pay, Google Pay, Samsung Pay|
|Benefits||24/7 customer service|
|Travel Perks||Airport Lounge Access|
Interest Rates & Fees
|Foreign Transaction Fee||None|
|Regular APR||28.49% (V) APR|
What Credit Score is Required to Get the Capital One QuicksilverOne
Based on data we’ve collected from public forums, a credit score of about 650 or higher is ideal. We have seen an approval with a score as low as 627, but keep in mind that credit card issuers consider more than just your credit score when evaluating a credit card application.
|App Status||Date||Credit Score||Bureau||Credit Limit|
What are the best alternatives?
Chime Credit Builder Secured Visa® Credit Card
Capital One Platinum Credit Card
Petal 1 Visa Card
QuicksilverOne Rewards Calculator
Reportedly, it is set at a maximum $5,000.
To be approved for this card, card applicants must have an average credit score. While Capital One doesn’t disclose credit score requirements, an average score is generally considered to fall between 630 to 689, although some report being approved with scores in the mid-500s.
Capital One does identify average credit as applying to a consumer who has defaulted on a loan in the past 5 years or has limited credit history. Limited credit history would include those who have “had my own credit card or other credit for less than 3 years (including students, people new to the U.S., or authorized users on someone else’s credit card).”
While the Capital One Quicksilver Card has no annual fee and a 0% APR offer, it earns the same cash back amount (1.5%) as the QuicksilverOne Card. Both cards share nearly identical benefits. However, the APR is higher on the Capital One QuicksilverOne Card, and it does have an annual fee. The QuicksilverOne Card requires an average credit score, while the Quicksilver Card requires a “good” score.
If you have good or better credit, the Quicksilver is the better option. If you have fair, average or limited credit, QuicksilverOne increases your odds of approval.