Credit Cards Credit Card Reviews

Capital One QuicksilverOne Credit Card Review

overall rating
3.6

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The Capital One QuicksilverOne card offers unlimited 1.5% cash back on every purchase and is available for consumers with average credit or a limited credit history. It charges an annual fee but, compared to other cards with the same target market, may be worth it for the higher rewards rate.

Capital One® QuicksilverOne® Cash Rewards Credit Card

overall rating
3.6
Capital One® QuicksilverOne® Cash Rewards Credit Card
On Capital One's Secured Site.
Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Poor - Excellent
Regular APR (%) 26.99% variable
Annual Fee $39
Rewards Earning Rate 1.5% cash back on every purchase, every day.
Balance Transfer Fee There is no standard balance transfer fee for this card.
Foreign transaction fee (%) 0%
how this card stacks up
When compared among all rewards cards in our database:
Rewards
Benefits
Low Fees
Security/Customer Experience
Low Interest
worst best

Currently rated one of our

Full Review of Capital One QuicksilverOne Credit Card

Pros
  • Higher rewards rate than similar cards

  • Average credit accepted

  • Good credit behavior recognized

Cons
  • $39 annual fee

  • High APR

  • No introductory incentive

Pros Explained

  • Higher Rewards Rate Than Similar Cards: This card offers unlimited 1.5% cash back on all purchases. That’s not the best rewards rate in the industry. But compared with other credit cards for fair or average or limited credit, you’ll be hard-pressed to beat it. Plus, cardholders don’t have to worry about planning to spend in certain categories to earn rewards. 
  • Average Credit Accepted: Capital One may issue you this card if you've defaulted on a loan in the past five years or if you have a limited credit history—that includes college students, newcomers to the U.S., and people who have previously only been authorized users on someone else’s credit card. If you're working on building a credit history, this can be a great card to have until you can qualify for a better card.
  • Good Credit Behavior Recognized: You'll start off with a credit line of at least $300, but having a relatively low limit may not be great for your credit score. One factor determining your FICO credit score is how much you owe, including your credit utilization rate—your card's balance divided by its credit limit. Consistently having a high utilization rate due to a low limit can make improving your credit score challenging. The good news is that if your first five payments are on time, Capital One will increase the credit limit on your QuicksilverOne card, making it a little easier to keep your credit utilization lower.

Cons Explained

  • $39 Annual Fee: Plenty of credit cards for consumers with fair credit don't charge an annual fee, but this one costs $39 per year. Although that’s low compared to many travel rewards credit cards, annual fees aren’t common among cash back credit cards. On the bright side, you only need to spend $2,600 each year—or $217 per month—to justify the annual fee in terms of cash back earned.
  • High APR: This card's 26.99% variable APR isn't the highest out there for consumers with average credit, but it’s also not the lowest. Regardless, carrying a balance isn't recommended. Instead, make it a goal to pay your credit card balance in full each month.
  • No Introductory Incentive: You won't get a one-time offer or a low introductory APR promotion with this card. While that’s pretty standard for less-than-stellar credit, you may be disappointed if you’re looking for upfront cash rewards or interest savings.

This Card is Best For

  • Avatar for Cash Back Strategist Persona
    Seeks to maximize cash back earnings across spending categories
    Cash Back Strategist
  • Avatar for Frequent Diner Persona
    Dines out regularly while traveling or in home city
    Frequent Diner
  • Avatar for Head of Household Persona
    Primarily responsible for household grocery and other major purchases
    Head of Household
  • Avatar for Driver/Commuter Persona
    Incurs gasoline or other commuting expenses each month
    Driver/Commuter

The Capital One QuicksilverOne card is an excellent choice for consumers who are trying to build their credit history. Even though it has an annual fee, you can earn rewards while you work to improve your credit. 

With better rewards credit cards available for consumers with better credit, this isn’t a card you’ll want to hold onto forever. But if you like it, you can apply for the Capital One Quicksilver card once your credit improves. The Quicksilver card offers the same rewards rate but features a bonus, an introductory promotional rate of 0% APR, and no annual fee.

The QuicksilverOne card is an especially good choice if you’re planning to travel abroad. It doesn’t charge a foreign transaction fee, which is typically 3% of every international purchase. 

Rewards Earning Details

If you want simplicity, this rewards program will work well for you. You'll earn unlimited 1.5% cash back on every purchase you make with this card. There’s no limit to how much you can earn in rewards or spending categories with varying rewards rates. 

However, if you prefer to maximize your rewards on certain purchases, compare this card with others offering a tiered-rewards system. For instance, if you’re a college student, the Discover it Student Cash Back card offers 5% cash back on different categories each quarter up to a quarterly cap, plus 1% cash back on everything else.

Rewards Redemption Details

The QuicksilverOne card offers three options for redeeming rewards: a paper check, a general statement credit (or a credit against a specific purchase), or a gift card. 

Rewards don't expire as long as your account is open. You can accumulate rewards for as long as you want, which can be beneficial if you’re saving up for a large purchase. At the same time, there’s no minimum redemption amount so you can get your cash back as often as you want.

How to Maximize Your Rewards

With no bonus and a flat rewards rate, you don't have to do any extra legwork to maximize the rewards you earn with this card. Just make sure to use it whenever you can.

Cardholders with a low credit limit should consider making multiple payments each month to avoid racking up a high credit card balance, which can hurt your credit score.

Standard Benefits

  • Travel accident insurance
  • Rental car insurance
  • Extended warranty protection
  • 24-hour travel assistance 

Cardholder Experience

Capital One was rated third in J.D. Power's 2019 Credit Card Customer Satisfaction Study behind Discover and American Express, ranking about average in all categories the research firm explored. 

The bank provides free access to your VantageScore credit score through its CreditWise feature, regardless of whether you have a Capital One credit card. That said, the VantageScore isn’t widely used among major lenders, and many credit card issuers offer access to your FICO credit score, which is commonly used in lending decisions.

Capital One provides 24/7 customer service, which is standard among credit card issuers. You can also manage your account online or with the card issuer’s mobile app, which was ranked No. 2 by J.D. Power in its 2019 U.S. Banking Mobile App Satisfaction Study.

The customer service department can be contacted at 800-227-4825 or at the number on the back of your card.

Security Features

Capital One provides cardholders with two helpful security features not standard in the credit card industry. 

The first is the ability to lock your card from the mobile app, which can prevent someone from using it if it’s lost or stolen. Second, you can create virtual credit card numbers to use online—you have the option of creating a different number for each online retailer, and you can lock and unlock them at any time.

Hidden Fees to Watch Out For

This card's $39 annual fee isn't high, but it’s uncommon for a cash-back credit card, even for fair credit. The card doesn’t charge a balance transfer fee, which is uncommon, but with no introductory 0% APR promotion, you’ll be stuck with a high APR. Other than that, the QuicksilverOne card's fees aren’t out of line with the industry standard.

Our Verdict

If you’re trying to establish credit or you’re having a hard time getting approved for a better card because you have fair or average credit, the Capital One QuicksilverOne card should be on your radar. 

This card's decent flat rewards rate can justify the annual fee, and the simple rewards program doesn’t require you to change your spending habits to maximize its value. 

If you're opposed to paying an annual fee of any amount, compare this card with other credit cards for fair credit to see if there’s a different option. Just keep in mind that you may end up getting less net value overall. For example, the Capital One Platinum card doesn’t charge an annual fee and also offers access to a higher credit line after you make your first five payments on time. But the card doesn’t offer any rewards. 

Also, if you have good or excellent credit, consider applying for the Capital One Quicksilver card instead, or another, better rewards credit card.

Apply Now
For Capital One® QuicksilverOne® Cash Rewards Credit Card
on Capital One's Secured Site.
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CURRENT CARD
Capital One® QuicksilverOne® Cash Rewards Credit Card
overall rating
3.6
Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Poor - Excellent
Regular APR (%) 26.99% variable
Annual Fee $39
Rewards Earning Rate 1.5% cash back on every purchase, every day.
Investopedia Credit Card Rating Methodology
Investopedia is committed to delivering the best credit card recommendations in the industry. We’ll tell you when a card is good, we’ll tell you when a card is bad, and we’ll only call a card the best if we would recommend it to our friends or family members.
Overall Star Rating Explained
To rate credit cards we objectively assess, score and weight nearly 100 individual card features which roll up into five major feature sets: fees, interest, rewards, benefits and security/customer service. Here’s how we weighted those feature sets for the overall star rating of a card:
We have applied our proprietary rating methodology to every generally-accepted credit card in the U.S. domestic market to allow consumers to make fully informed choices. It’s important to note that for our overall score that we make a number of assumptions about how you would be using your credit card:
  1. While we make no assumption as to whether balances are carried on a given card we do assign varying weights to all credit cards’ introductory APR (if present) in addition to the regular, long term purchase and balance transfer interest rates.
  2. We utilize BLS (U.S. Bureau of Labor Statistics) income and average category spending data to calculate annual earnings rates for rewards cards that offer cash back, points or miles rewards at a set rate on all spending or in consideration of bonus rewards for certain spending categories, like gasoline, groceries, restaurants or travel.
  3. We determine the maximum points value of rewards cards by dividing the points, cash back or miles required to exchange for the retail price of the most valuable redemption option (for example, in the case of a card that offers a domestic roundtrip airline ticket as a redemption option vs. another redemption option of lesser value that requires the same amount of points or miles to acquire, we would base the rewards value on the airline ticket).
  • Cards that are selected best overall in their respective categories generally feature most if not all of the following attributes:
  • Low or Reasonable Fees Credit card fees come in many forms but the primary ones involve those for annual card membership and balance transfer. There are a myriad of reward and non-reward card options that charge no annual fee but for the many that do assess an annual fee the cost is often justified by their lucrative ongoing rewards and initial signup bonuses. Balance transfer fees are occasionally waived during introductory periods with certain cards, a factor which is heavily and positively weighted in our scoring model for cards offering this benefit. When charged, balance transfer fees range between 3% - 5%, which we grade accordingly. Other standard fees can generally be avoided, such as those for paying late or taking cash advances but we rate those relative to other cards in the market for reference, though with less weight assigned
  • Competitive Interest Many cards offer 0% introductory APR on purchases and balance transfers for varying lengths and then revert to a permanent or regular APR (based on a variable rate tied to the prime rate) that applies to any balances not paid in full. We rate both introductory APR percentage and length (in months) along with the midpoint of the variable regular APR interest rate range.
  • Valuable Rewards Credit card reward programs can be based on cash back, points or travel rewards (which can be generic or travel partner-specific, as with airline and hotel co-brand card programs). For cards that offer rewards we determine the value per dollar spent along with average redemption values and assign more favorable ratings to cards that offer superior consumer value. We also assign value to sign-up bonus offers and their initial spending requirements, when present.
  • Excellent Benefits Credit card benefits cover a range of offerings like concierge service, TSA Pre-check, auto rental coverage, travel accident insurance, lost luggage assistance and free credit scores. We rate cards on the number and level of over a dozen standard and upscale benefits and provide extra weighting emphasis for those travel-related perks that apply to premium travel cards when present.
  • Solid Security/Customer Service Security and customer service features like lost or stolen card replacement, being able to lock one’s card from an issuer app and 24 hour customer support are becoming more standard across the card market and we provide a significant amount of weighting to features in this area.
  • You can also read the full version of our methodology for a more in-depth look at how we assess cards and award them the best in various categories.