Capital One Quicksilver One Review: Cash Back Credit Card
Customers with fair credit can get 1.5 percent cash-back on every transaction, which is the same rewards rate to individuals with good or excellent credit; however, this card has a fee.
Your options for a decent credit card may appear restricted if you have average credit. The Capital One QuicksilverOne Cash Rewards Credit Card is one of just a few cards explicitly intended for people with bad credit that also gives good rewards. The 1.5 percent cash-back rate is comparable to that of other flat-rate cash-back cards on the market.
Even though the QuicksilverOne has a $39 yearly cost, you’ll break even if you expend $2,600 every year. Even after factoring in the annual charge, people usually spend more on their credit card annually, so you’ll likely end up winning.
This card, however, isn’t all sunshine and beautiful skies. It leads to the higher variable APR of 26.99 percent on purchases, which is more than average, precisely like most credit cards for folks with only OK credit. If you frequently miss payments, it would be better to have a card with a lower interest.
If you have a good credit score, you might be qualified for the QuicksilverOne’s no-annual-fee twin, the Capital One Quicksilver Cash Rewards Credit Card, which reaps the same 1.5 percent cash back and even has a 0% intro APR on transactions and balance transfers for 15 months, followed by a 14.99 percent -24.99 percent variable APR.
Table of Contents
- Overview: Capital One Quicksilver One Review
- What is Capital One Quicksilver One?
- How does Capital One Quicksilver One work?
- What are the Features of Capital One Quicksilver One?
- How much does Capital One Quicksilver One Cost?
- Who is Capital One Quicksilver One Best For?
- What is the difference between Capital One Quicksilver vs. Quicksilver One?
- Capital One Quicksilver One Pros and Cons
- Capital One Quicksilver One Compare to other Cards
- Conclusion: Is Capital One Quicksilver One Worth it?
- Capital One Quicksilver One FAQs
Overview: Capital One Quicksilver One Review
|Card||Best For||Fee & Credit||More Details|
Best For Cash Back and Credit Building
|Annual Fee: $39 • APR: 26.99% • Unlimited 1.5% Cashback|
What is Capital One Quicksilver One?
Capital One Quicksilver One is a credit card is designed for those with weak credit histories and who wish to earn rewards. This card’s infinite cash-back advantages rapidly cover the modest annual cost of $39. It’s a good choice for Individuals looking for a cashback card to utilize while developing or rebuilding their credit.
How does Capital One Quicksilver One work?
One may apply for the Capital One QuicksilverOne Cash Rewards card via the Capital One mobile app.
You can check if you’re pre-approved for a credit card with Capital One without harming your credit score. You may check your pre-approval for up to 7 different Capital One credit cards simultaneously, which is an excellent way to see which ones you are eligible for if you’re considering a Capital One card and are unsure which ones.
To apply, you’ll need to enter your name, address, birth date, social security number, work status, earnings, and other monthly installments, among other things.
You can proceed with your application for the Capital One QuicksilverOne Cash Rewards credit card if you’ve been pre-approved. While pre-approval does not ensure that your application will be accepted, it does indicate that it is highly likely. You’ll be allowed to use your card immediately when your account is opened.
Your Capital One QuicksilverOne Cash Rewards Credit Card’s annual percentage rate (APR) will be 26.99 percent. It’s a fluctuating rate that floats with the Prime Rate. Balance transfers will likewise have a variable APR of 26.99 percent.
You need a credit score of 630 to 689 if you wish to apply for Capital One QuicksilverOne Cash Rewards Credit Card.
It might be challenging to qualify for a cash rewards credit card with good features if your credit isn’t perfect. Even if you have fewer than three years of credit history or have had a delinquency in other loans in the preceding five years, you may be accepted for the Capital One QuicksilverOne Cash Rewards Credit Card.
This is only a general guideline for how this credit card company views not-so-good credit; other aspects of your credit profile may be considered when you apply and may influence your acceptance.
The credit limit on your Capital One QuicksilverOne card is $300 or more. There’s no way to know how high your QuicksilverOne limit may go.
Cardholders may be eligible for a higher credit line after paying their first five monthly payments on time. Your credit profile may improve if you make on-time payments and reduce your total credit usage.
What are the Features of Capital One Quicksilver One?
The Capital One QuicksilverOne Cash Incentives card offers a lot, such as cashback rewards, automatic credit line reviews, and advantages like security alerts and $0 fraud liability.
The Capital One QuicksilverOne Cash Rewards card offers a flat 1.5 percent cash-back rate on all transactions, with no maximum limit. Cashback can be exchanged for cash, a credit on your account, or gift cards.
Tools for Account Management
The card issuer makes it simple to manage your account and keep track of your balance, statements, and other important information. Account users may set up notifications and monthly payments on autopay, analyze spending and even check their credit score and credit history through their Capital One account, which comes with a convenient mobile app.
Features of Security
Automatic security alerts, $0 fraud liability, and the opportunity to freeze your card if it’s lost or stolen are all security features of the Capital One QuicksilverOne Cash Rewards card. Cardholders can also use virtual card numbers to make online transactions, assisting secure sensitive credit card data when purchasing.
No Foreign Transaction Fees
Unlike certain credit cards, the Capital One QuicksilverOne Cash Rewards card does not impose international transaction fees. This makes it an excellent choice for borrowers who usually travel or buy things in other countries.
Automatically Raise your Credit limit.
Capital One will examine your profile for credit limit upgrades automatically. Cardholders may be automatically assessed for a higher credit line within as little as six months.
How much does Capital One Quicksilver One Cost?
The annual fee for the Capital One QuicksilverOne Cash Rewards card is $39. The card has a fluctuating APR of 26.99 percent, as well as a late payment penalty of up to $40, a balance transfer fee of 3%, and a cash advance cost of 3% or $10, whichever is more.
Foreign Transaction Fee
The Capital One QuicksilverOne Cash Rewards card does not impose any fee on foreign transactions, as some other credit cards do. This makes it an excellent choice for those borrowers who regularly travel or want to buy stuff in other countries.
Who is Capital One Quicksilver One Best For?
The Capital One QuicksilverOne Cash Rewards Credit Card lacks the bling and glitter that certain cards with higher annual fees may provide. As a result, this card isn’t suitable for everyone. However, if you’re trying to improve your credit, it might be an excellent place to start.
The Capital One QuicksilverOne Cash Rewards Credit Card might also be a valuable tool to improve credit even while earning cashback rewards if you’re cautious with when you are using it — for instance, if you’re paying off your total amount in regular installments every month, you surely are building up your credit score.
What is the difference between Capital One Quicksilver vs. Quicksilver One?
Which of the two cards you can have is determined by your credit score.
The cards appear to be undifferentiated at first look. Both give 1.5 percent cash back on all transactions; neither charge foreign transaction fees and has strikingly similar names. Despite these similarities, the cards differ slightly regarding what they offer, according to their different credit score restrictions.
The Capital One Quicksilver Cash Rewards Credit Card
To be eligible for the Capital One Quicksilver Cash Rewards Credit Card, you must have high to excellent credit (a FICO score of at least 690). Cards that demand higher credit ratings typically have more features than those that require lower scores. To that purpose, the Capital One Quicksilver Cash Rewards Credit Card provides the following benefits, which are more extensive than those offered by its average-credit brother card.
You can get a sign-up bonus when you apply for this card. After spending $500 on purchases within three months of starting your account, you will receive a one-time $200 cash bonus. The Capital One Quicksilver Cash Rewards Credit Card comes with no annual charges.
The Capital One QuicksilverOne Cash Rewards Credit Card
It is a cash rewards credit card issued by Capital One. The Capital One QuicksilverOne Cash Rewards Credit Card is meant for people with average credit (credit scores of 630 to 689); hence it has fewer advantages than its twin.
It has a $39 annual fee higher than the Capital One Quicksilver Cash Rewards Credit Card. It also doesn’t come with a sign-up incentive or a 0% APR period. However, it has specific appealing characteristics that may make it a viable option for individuals with not-so-good credit.
Capital One Quicksilver One Pros and Cons
► Fixed-Rate of Cashback: The Capital One QuicksilverOne Cash Rewards card offers a flat rate of 1.5 percent cash back on all transactions, with no maximum spending limit.
► No Charge on Foreign Transactions: You won't have to pay a foreign transaction charge if you use this card in any other country outside of the U.S.
► Flexible Credit Requirements: Unlike many other rewards credit cards, you don't need good credit to qualify.
► Annual Fees Levied: The yearly charge for the card is $39.
► No Welcome Bonus: The Capital One QuicksilverOne Cash Rewards card does not come with a welcome bonus, unlike some other cards.
► High APR: This card offers a higher interest rate than many rivals, with a fluctuating APR of 26.99 percent. Because there is no intro APR, the usual APR and transfer APR apply to all purchases made and transfers instantly.