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Capital One QuicksilverOne Cash Rewards Credit Card review Flat-rate rewards for fair credit

Calling all consumers with fair credit: cash in on unlimited, low-maintenance rewards Written by Credit Cards Editor As a Bankrate credit cards editor, Ashley Parks is fascinated by the ways people can make credit cards work for them when armed with the right knowledge. Sept. 29, 2022 Edited by Credit Cards Editor Courtney Mihocik is an editor at Bankrate Credit Cards and CreditCards.com specializing in credit card news and personal finance advice. Previously, she led insurance content at Sept. 29, 2022

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Snapshot

4.1 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. star icon star icon star icon star icon star icon star icon star icon star icon star icon star icon Bottom line Having a fair credit score doesn’t have to leave you out of the running for the chance to earn rewards. Though you’ll have to cover a small annual fee for the Capital One QuicksilverOne, your fair score can still get you a low-hassle flat rewards rate and a few key cardholder perks. on Capital One's secure site

Best for flat-rate cash back

Capital One QuicksilverOne Cash Rewards Credit Card

Rewards rate 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 Earn unlimited 1.5% cash back on every purchase, every day Annual fee Intro offer Intro offer is not available to this Capital One credit card Regular APR Recommended Credit Score A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Capital One QuicksilverOne Cash Rewards Credit Card Overview

Individuals who want to build their credit and get rewarded while they do it should consider the Capital One QuicksilverOne credit card. The card provides cash back rewards on every purchase and is one of the few cards available to those with fair credit. Plus, cardholders are automatically considered for a higher line of credit in as few as six months with on-time payments. With responsible use, Capital One QuicksilverOne credit cardholders may improve their credit scores while earning rewards along the way. Not to mention it also comes with attractive Capital One features, like no foreign transaction fees, emergency card replacement and $0 fraud liability.

What are the pros and cons

Pros

Cardholders can potentially qualify for a higher line of credit within six months with on-time payments, a great incentive for keeping up with good credit habits You can earn automatic cash back on all purchases everywhere with no need to worry about spending caps or rotating bonus categories There are no foreign transaction fees, making the card a great companion for travel abroad.

Cons

You’ll have to cover a small annual fee in exchange for the issuer offering rewards to fair credit consumers. There is no welcome offer with this card, so you won’t see a windfall of rewards all at once. No 0 percent intro APR periods for purchases or balance transfers, which means carrying a balance could cost you.

A deeper look into the current card offer

Quick highlights

Rewards rate: Unlimited 1.5 percent cash back on all purchases and unlimited 5 percent cash back on hotels and rental cars booked through Capital One Travel (terms apply) Welcome offer: N/A Annual fee: $39 Purchase intro APR: N/A Balance transfer intro APR: N/A Regular APR: 28.49 percent (variable)

Current welcome offer

Unfortunately, there's no welcome offer or sign-up bonus with this card.

Rewards rate

The Capital One QuicksilverOne Cash Rewards Credit Card earns cash back at a flat 1.5 percent rate. You'll also earn 5 percent cash back on hotel and rental cars booked through Capital One Travel. Cardholders can choose to get cash back rewards in the form of a check or applied as a statement credit. (Note, statement credits cannot be used to meet minimum payment obligations.) Cardholders can also spend cash back rewards on gift cards, though redemption rates may vary.

Other cardholder perks

In addition to the straightforward cash back rewards with this card, cardholders also get access to several Capital One benefits.

Credit-building benefits

The Capital One QuicksilverOne Cash Rewards Credit Card is available to individuals with or better. In six months, Capital One may automatically consider cardholders for a higher line of credit with on-time payments. Credit card usage with this card is also reported to all three major credit reporting bureaus. With responsible use, cardholders may be able to improve their credit score.

Travel benefits

This card has , so you won't pay a fee when making purchases outside of the United States. Cardholders can also access 24-hour customer service, $0 fraud liability and get security alerts.

Retail benefits

This card offers Capital One Shopping. Capital One Shopping is an online shopping tool that automatically applies available coupon codes to your order so you can get exclusive discounts as a cardholder.

Rates and fees

The Capital One QuicksilverOne Cash Rewards Credit Card has a $39 annual fee. The APR for purchases, transfers and cash advances is 28.49 percent variable. This APR is high compared to the current , even for cards geared toward people with fair credit. For a , the fee is either 3 percent of the cash advance amount or $10, whatever's greater. Late payment fees are up to $40.

How the QuickSilverOne compares to other cash back cards

Most of the best cash back credit cards require good to excellent credit scores. Your credit score can determine what kind of access you have to certain cards, so it's important to track and monitor this part of your personal finances.

Capital One QuicksilverOne Cash Rewards Credit Card

star icon star icon star icon star icon star icon star icon star icon star icon star icon star icon Bankrate Score Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. on Capital One's secure site Annual fee Intro offer Intro offer is not available to this Capital One credit card Rewards rate 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 Earn unlimited 1.5% cash back on every purchase, every day Recommended credit A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Upgrade Cash Rewards Visa®

on Upgrade's secure site Annual fee Intro offer Intro offer is not available to this Upgrade credit card Rewards rate Earn 1.5% unlimited cash back on card purchases every time you make a payment Recommended credit A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Petal® 2 Cash Back No Fees Visa® Credit Card

on Petal's secure site Annual fee Intro offer Intro offer is not available to this Petal credit card Rewards rate Up to 1.5% cash back on eligible purchases after making 12 on-time monthly payments. 1% cash back on eligible purchases right away. Recommended credit A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Capital One QuicksilverOne Cash Rewards Credit Card vs. Upgrade Cash Rewards Visa®

There are a couple of major differences between these two fairly similar cards for consumers with fair credit. The does not charge an annual fee and the regular 14.99% – 29.99% ongoing APR could be significantly lower than that offered by the QuicksilverOne, depending on your credit score. If you qualify for a lower APR with the Upgrade Visa, you could save more on interest over time if you end up carrying a balance. The opposite could be true if you don't qualify for the lower-end APR with the Upgrade Visa, as the high-end APR could be up to 29.99 percent - a bit higher than the QuicksilverOne. It's also important to note that while the rewards rates for these two cards are the same, the way you earn those rewards differs slightly. The QuicksilverOne earns 1.5 percent unlimited flat-rate cash back on purchases, while the Upgrade Visa card earns 1.5 percent unlimited cash back on card purchases every time you make a payment. You can also earn 5 percent cash back on hotels and rental cars booked through Capital One Travel with the QuicksilverOne, adding to its value for those who book travel often and want to cash in on elevated rates by using the Capital One Travel portal. Both of these options are unsecured, so you won't need to tie up funds into a security deposit. If affordability is top of mind and your credit is in a good spot to be approved for a reasonable APR, the Upgrade Visa may be the more cost-effective option in the long run.

Capital One QuicksilverOne Cash Rewards Credit Card vs. Petal® 2 Cash Back No Fees Visa® Credit Card

You could also earn up to 1.5 percent cash back on eligible purchases with the Petal 2, similar to the QuicksilverOne. However, cardholders must make 12 on-time payments before they are eligible for up to 1.5 percent cash back. Like the Upgrade Visa, which has a similar feature, this extra step encourages responsible credit-building habits first before earning rewards. If you'd prefer to skip the wait on your max earnings, the QuicksilverOne grants you rewards on all your purchases every day. If your focus is centered on building over having immediate access to the highest reward rates, the Petal 2 might be an ideal choice. Also like the Upgrade Visa, the Petal 2 edges out the QuicksilverOne on affordability slightly because it skips the annual fee. However, the QuicksilverOne has a higher earning rate than the Petal 2, at least for the first year of card ownership. It's also important to note that you can apply for the Petal 2 without any previous credit history and still feasibly be approved, while the QuicksilverOne recommends having at least a fair to good credit score. If your credit score is still on the mend and you want more relaxed requirements to access a card with rewards, the Petal 2 may be the best choice.

Best cards to pair with Capital One QuicksilverOne

If you need to make a balance transfer, you may want to consider a with a 0 percent intro APR period. You could also consider another credit card for fair credit that has no annual fee or rewards program like the . Streamlining your focus to building your credit so you can qualify for more valuable cash back cards could be a noteworthy strategy.

Bankrate s Take Is Capital One QuicksilverOne worth it

If you have fair credit, the Capital One QuicksilverOne Cash Rewards Credit Card is a fantastic choice. There aren't many rewards credit cards available for those with fair credit, so you can use this card to both build your credit and get cash back on all your purchases. But if you qualify for more exclusive or are willing to trade in rewards to focus on building your credit and get access to better cards in the long run, you may be better off exploring other options.

Frequently Asked Questions

What credit score do I need for the Capital One QuicksilverOne

The recommended credit score to apply for the Capital One QuicksilverOne is fair to good, which ranges from 580 to 740 on the FICO scale.

What is the starting credit limit for the Capital One QuicksilverOne

The minimum starting credit limit for the QuicksilverOne is $300, but the limit will be determined by your creditworthiness. You could increase your limit over time with responsible card use like paying your bill on time and in full.

Is the Capital One QuicksilverOne a secured credit card

No, the QuicksilverOne is not a secured card, so you will not be required to put down a security deposit. There is, however, a $39 annual fee with this card.

How soon would I be eligible for a credit limit increase with the Capital One QuicksilverOne

You could be eligible for an increase on your credit limit in as little as six months with responsible card use.

How can I upgrade my Capital One QuicksilverOne

Once you have increased your credit score with responsible habits, you can contact your issuer to discuss upgrading to another card like the Capital One Quicksilver.

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Written by Ashley Parks Credit Cards Editor As a Bankrate credit cards editor, Ashley Parks is fascinated by the ways people can make credit cards work for them when armed with the right knowledge. Edited by Credit Cards Editor

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