The Capital One QuicksilverOne Cash Rewards Credit Card is ideal for those with fair credit looking for a solid cash back credit card. This card offers 1.5% cash back on all purchases, unlimited credit score access, as well as some other features. We’ll cover this and more in this review.
Snapshot
The Capital One QuicksilverOne Cash Rewards Credit Card is a cash back card designed for those with average or fair credit. Like its cousin, the Capital One Quicksilver Card, this card offers 1.5% cash back. There are, however, some notable differences between the cards besides the credit score requirements.
The Capital One QuicksilverOne Cash Rewards Credit Card has an annual fee. It offers fewer benefits over all compared to the Quicksilver Card. That said, it’s arguably one of the best credit cards for those with fair credit.
- Cash Back: Earn 1.5% cash back on every purchase
- Get automatically considered for a higher credit line in as little as 6 months
- Free credit monitoring with the CreditWise® app
- $0 fraud liability if your card is ever lost or stolen
- Get customized alerts and manage your account with the Capital One mobile app
- $39 annual fee
Pros & Cons
What we like
- Offers 1.5% cash back
- Low credit score requirement
- $0 foreign transaction fees
- Can help build credit
What could be better
- High APR
- $39 annual fee
- No signup bonus
Capital One QuicksilverOne Card Rewards
Earning Rewards
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
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.
QuicksilverOne Rewards Calculator
You can use this calculator to estimate cash back rewards based on your spending habits.
Features & Details
The Capital One QuicksilverOne Cash Rewards Credit Card offers the following features.
- Card type: Cash Back
- Network: Mastercard
- Issuer: Capital One
- Contactless Payment: Tap to Pay, Apple Pay and Google Pay
- Rewards: 1.5% cash back on all purchases
- Credit report pulled: Experian, Equifax and TransUnion
- Annual fee: $39
- Foreign transaction fee: $0
Benefits
- CreditWise: Free, unlimited access to your credit score and tools to help improve your score.
- Proactive Account Alerts: Receive an alert if Capital One finds a mistake or unexpected charge.
- Personalized Payment: Pick your own monthly due date and even your payment method.
- Autopay: Choose to have your payment automatically withdrawn from your account monthly.
- 0% Fraud Liability: You will not be held responsible if your card becomes lost or stolen.
- Card Lock: Lock your card if you lose it, or if it gets stolen. This will prevent the card from being used.
- Security Alerts: If any suspicious activity is seen on your account, Capital One will notify via email, text, etc.
- 24 Hour Travel Assistance: This service helps you by getting you an emergency replacement card, or even a cash advance if your card becomes lost or stolen.
- Roadside Assistance: Find assistance with this benefit when you’re needing a tire change, need a jump, or even a tow.
- Extended Warranty: Items you purchase with your credit card will get additional warranty coverage at no cost.
- Auto Rental Collision Damage Waiver: Rent a vehicle with your credit card, and you will be covered for damage due to collision or theft.
- Eno Your Capital One Assistant: With this feature, Capital One will send you an alert if they find a mistake, or unexpected charge like a duplicate purchase or a sudden bill increase. Eno is active 24/7 and can always answer questions wherever you are.
Getting Approved
Capital One designed the Capital One QuicksilverOne Cash Rewards Credit Card for those with limited, fair or average credit. While Capital One doesn’t disclose a minimum credit score, several have reported in forums that they were approved with scores in the mid-500s. Some even had charge-offs or collection agency actions who were approved for the card.
Is This Card for You?
Who the card is best for
The card is ideal for those with limited or fair credit who are looking for a cash back credit card.
Who might do better with a different card
Those with good to excellent credit should consider other cash back cards that do not charge an annual fee.
How Does the Capital One QuicksilverOne Card Stack Up
The Capital One QuicksilverOne Cash Rewards Credit Card is one of several 1.5% cash back cards on the market today. Unlike most of the other cards in this category, this card is designed for those rebuilding their credit. Thus, it’s ideal for those with fair to average credit.
FAQs
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.
Rating
Capital One QuicksilverOne Cash Rewards Credit Card Rating
Summary
The Capital One QuicksilverOne Cash Rewards Credit Card is one of the best credit cards for those with average or limited credit. It’s annual fee is reasonable and its 1.5% cash back reward rate is one of the best available for those building their credit.
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