Pros and Cons
Pros
Qualify with average credit
High rewards rate
No foreign transaction fees
Cons
Has annual fee
High APR
Detailed Review
If you have average credit but are looking for a credit card that still rewards spending, it doesn't get much simpler than the Capital One QuicksilverOne Cash Rewards Credit Card. This card offers unlimited cash back on all purchases, every time you use it.
Capital One QuicksilverOne Cash Rewards Credit Card: Basics
Card type: Cash back and fair credit.
Annual fee: $39 (see rates and fees).
Sign-up bonus: None.
Rewards: Unlimited 1.5% cash back on all purchases, plus earn unlimited 5% cash back on hotels and rental cars booked through the Capital One Travel portal.
Interest rate: The ongoing APR is 29.99% Variable APR.
Capital One QuicksilverOne Cash Rewards Credit Card vs. Capital One Quicksilver Cash Rewards Credit Card
The Capital One QuicksilverOne Cash Rewards Credit Card gives you 1.5% cash back on nearly every purchase. This is the same rewards rate you’ll get with the regular version of this card, the Capital One Quicksilver Cash Rewards Credit Card — which is available to those with excellent credit (see rates and fees).
However, there are some key differences between the two cards:
The Capital One QuicksilverOne Cash Rewards Credit Card has an annual fee of $39, while the version for those with excellent credit charges an annual fee of $0.
Holders of the Capital One Quicksilver Cash Rewards Credit Card are eligible for the following sign up bonus: Earn a one-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening. The Capital One QuicksilverOne Cash Rewards Credit Card, on the other hand, offers no sign-up bonus.
The Capital One Quicksilver Cash Rewards Credit Card also comes with a promotional interest-free period for purchases and balance transfers. The Capital One QuicksilverOne Cash Rewards Credit Card has no 0% introductory APR period.
🤓Nerdy Tip
Capital One offers a suite of Quicksilver-branded cards for differing credit scores. For example, the issuer offers a Quicksilver Rewards card for consumers with good credit — which doesn’t charge an annual fee but doesn’t come with an introductory APR offer or a sign-up bonus. Capital One also offers a Quicksilver product for college students, as well as a secured version for those looking to build or establish credit.
» COMPARE: Capital One Quicksilver vs. QuicksilverOne: How They Differ
Compare to Other Cards
NerdWallet rating
ANNUAL FEE
$39
INTRO APR
N/A
REGULAR APR
29.99% Variable APR
RECOMMENDED CREDIT SCORE
NerdWallet rating
ANNUAL FEE
$0
INTRO APR
10.99% intro APR on Balance Transfers for 6 months
REGULAR APR
28.24% Variable APR
RECOMMENDED CREDIT SCORE
NerdWallet rating
ANNUAL FEE
$35
INTRO APR
N/A
REGULAR APR
25.64% Variable APR
RECOMMENDED CREDIT SCORE
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Benefits and Perks
Rewards
Some cards aimed at those with fair credit don’t come with rewards. But the Capital One QuicksilverOne Cash Rewards Credit Card earns respectable cash back. Holders will earn a simple 1.5% back on nearly everything, which means there are no bonus categories to keep track of. Plus, an unlimited 5% cash back on hotels and rental cars booked through Capital One Travel.
And unlike some other cash-back cards, the Capital One QuicksilverOne Cash Rewards Credit Card has no restrictions on how and when you can redeem those rewards. Cardholders can redeem in any amount at any time.
A potential credit limit increase
Cardholders may be automatically considered for a higher credit line after at least six months of having the card. This means that with responsible card usage and improved credit, the maximum spend amount on your card may be increased. This allows for more wiggle room to keep credit utilization low, which can positively impact your credit score.
No security deposit
For consumers with poor or average credit, secured credit cards are sometimes the best card options. While secured cards can help to build up credit, they typically require upfront cash security deposits that act as collateral.
With the Capital One QuicksilverOne Cash Rewards Credit Card, however, holders are not required to put down any money once they are approved. This makes the card less costly upfront than some alternative credit card options.
» LEARN: What to do if a fair credit score cuts your credit card options
Drawbacks and Considerations
An annual fee
Although the card’s $39 annual fee isn't too lofty, it is still an added cost (see rates and fees). You have to spend at least $2,600 a year, or an average of $217 per month, with this card to make up for the yearly cost. Use our calculator to see how much you could earn.
If paying an annual fee is not worth it for you, consider these alternative options that don’t charge one:
Capital One Platinum Credit Card: This card from the same issuer charges an annual fee of $0 but offers no rewards. It accepts applicants with average credit and is a good card to use to build a strong credit history in preparation for moving up to a better card (see rates and fees).
Chase Freedom Rise℠: If you're building credit, not rebuilding it, the AF-annual-fee card could be a good option. It earns 1.5% cash back on purchases. However, if you have poor credit (instead of no credit), you might want to look elsewhere.
If you want to know what other cash-back credit cards might be available to you, consult our list of best credit cards.
