- 1.5% cash back on all purchases
- Available to people with limited or fair credit
- No foreign fee
- $39 annual fee
- Average regular APR for a limited-credit card
Capital One QuicksilverOne Review Summary
If you’re a newcomer or have fair credit, you certainly don’t want the Capital One QuicksilverOne Cash Rewards Credit Card to become the one that got away. Much like its more mature sibling, the Capital One Quicksilver Cash Rewards Credit Card, which is among the best available “good-credit” credit cards, the version with “One” at the end is in rarefied air for its particular segment of the market.
Although it does charge a modest $39 annual fee and a fairly high regular APR, QuicksilverOne more than makes up for that by offering 1.5% cash back. It’s therefore an affordable means of credit building for any qualified applicant but promises to be especially beneficial if you spend at least $2,600 per year (the breakeven point at which rewards offset the annual fee).
- Earn unlimited 1.5% cash back on every purchase, every day
- No rotating categories or limits to how much you can earn, and cash back doesn't expire for the life of the account. It's that simple
- Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply
- Be automatically considered for a higher credit line in as little as 6 months
- Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges
- Help strengthen your credit for the future with responsible card use
- Monitor your credit score with CreditWise from Capital One. It's free for everyone
- Check out quickly and securely with a contactless card, without touching a terminal or handing your card to a cashier. Just hover your card over a contactless reader, wait for the confirmation, and you're all set
- See More Details & Reviews About Capital One QuicksilverOne Cash Rewards Credit Card
Capital One QuicksilverOne Review Highlights
- 1.5% Cash Back On All Purchases: The average cash-back credit card offers a 1.11% base earning rate, according to WalletHub’s latest Credit Card Landscape Report. You therefore stand to reap 40% more than the market average from QuicksilverOne, despite having decidedly below-average credit standing. And, as mentioned above, you only have to spend $2,600 per year – roughly $216.67 per month – to effectively pay your annual fee with earnings. If you spend $500 per month, on the other hand, you’ll pull in an annual profit of about $51 after subtracting the annual fee. You can also set up automatic redemption, either by date or based on amount of earnings accrued. Plus, cardholders earn 5% back on hotels and rental cars booked through Capital One Travel.
Capital One QuicksilverOne Review Lowlights
- $39 Annual Fee: One of the main things distinguishing the Quicksilver Credit Card from the QuicksilverOne Credit Card is that while the former can be free to use, the latter costs at least $39 per year. It’s not a fatal flaw, however. QuicksilverOne gives you enough rewards firepower to offset this annual fee by spending just $2,600 per year, and everything beyond that is gravy. Yes, this $39 annual fee is about twice as high as the market average of $22. But it’s still a fraction of what you’d have to spend on an unsecured credit card for bad credit, for example, as the average offer charges roughly $75 in first-year fees and $104 in fees each year thereafter for only a fraction of the benefit. QuicksilverOne’s annual fee also requires you to sacrifice far less liquidity than any secured card.
- Roughly Average Regular APR: You certainly don’t want to be carrying much of a balance at the rate charged by the QuicksilverOne card because while 26.99% (V) is roughly in line with what you might expect from a credit card designed for people with limited credit, it’s still higher than the averages for “fair-credit” credit cards (23.05%) and secured credit cards (18.3%). If you plan to either finance upcoming purchases or transfer a balance, you can use WalletHub’s credit card calculator to plan your monthly payments and gauge how expensive incurring interest would ultimately be.
Other Things To Consider About The Capital One QuicksilverOne Card
- Credit Line-Increase Reviews: After six months, you will become eligible for a credit-line increase. That doesn’t mean you are guaranteed to get a higher spending limit, but one will be automatically applied if Capital One deems you worthy. Should you not receive a higher limit after half a year, you can always just ask for one. You can find some tips for doing so in our guide to getting a higher credit limit.
- No Foreign Transaction Fees: Despite the fact that we live in a global economy, most credit cards still penalize users for traveling abroad or making purchases from internationally based merchants. In fact, the average credit card still assesses a surcharge of 1.44% on such transactions.In contrast, however, QuicksilverOne does not charge foreign transaction fees, allowing you to travel and shop around the world at no added cost. This also enables you to maximize the average 7.14% currency-conversion savings you can derive from using a credit card on the Mastercard or Visa network, rather than exchanging hard currency at a bank or airport kiosk, when headed out of the country.
Capital One QuicksilverOne vs. The Competition
Capital One QuicksilverOne Cash Rewards Credit Card
Capital One Platinum Credit Card
Capital One Platinum Secured Credit Card
|Rewards Bonus Offer||N/A||N/A||N/A|
|Rewards Rate||1.5 - 5% Cash Back||N/A||N/A|
|Purchase Intro APR||N/A||N/A||N/A|
|Transfer Intro APR||N/A||N/A||N/A|
|Regular APR||26.99% (V)||26.99% (V)||26.99% (V)|
|Details, Rates & Fees||Learn More||Learn More||Learn More|