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.
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.
Capital One Quicksilver One Compare to other Cards
|Credit Card||Annual Fee||Rewards||Welcome Bonus|
|Capital One Quicksilver Rewards||$0||1.5% cash-back||$200|
|Chase Freedom Unlimited||$0||1.5% cash-back||$200|
|Citi Double Cash||$0||2% cash-back||$0|
|Discover It Cash Back||$0||5% cashback||Not Specified|
Capital One Quicksilver One vs. Chase Freedom Unlimited
Chase Freedom Unlimited credit card: It is an excellent choice if you want a basic cash-back rewards credit card with a lot of earning capacity. This card offers up to 5% cashback on eligible purchases, as well as a hefty $200 initial bonus. The card also has no annual fee and earns a fixed cashback rate of 1.5 percent, assuring that you’ll always get reward points no matter how much or little you spend and what you spend on.
This credit card is best suited for people who desire to get cashback, of a generous flat rate of 1.5 percent, which is among the most competitive on the market, especially when combined with extra benefits, making the card truly stand out. They’re also a good fit for consumers who wish to keep their credit card usage simple while still earning good rewards.
Chase Freedom Unlimited, however, is only available to consumers with strong to outstanding credit. To enhance your chances of getting accepted by the card issuer, you should have a credit score of 690 or better. There one can rely on a Capital One QuicksilverOne card. It is an excellent option for people with just average credit. Despite the yearly charge, you may receive incentives while working to repair your credit.
A QuicksilverOne card is an excellent option if you want to travel internationally. It doesn’t impose a foreign transaction fee, usually 3% of every overseas transaction with other credit cards.
>> Full Article: Chase Freedom Unlimited Review: Huge Cash Back and Bonus?
Capital One Quicksilver One vs. Citi Double Cash Card
What’s most appealing with Citi Double Cash Card is its 2% cash-back! The Citi Double Cash Card gives you a flat 2% cashback on all kinds of spendings—1% when you make the transaction and 1% when you pay it off.
There is no annual fee with this credit card, and it also includes fraud protection and 24-hour customer care.
However, your cash rewards balance expires if you don’t earn cash-back from transactions or payments for a whole year. Also, it is only suitable for customers with excellent credit scores; that is where Capital One Quicksilver One scores. It is, as we know, available for people with an average credit score of 630 to 689.
In addition to that, Citi Double Cash Card also has a Foreign transaction fee of 3%, whereas Capital One Quicksilver One levies no foreign transaction fees.
Capital One Quicksilver One vs. Discover It Cash Back
If you’re searching for a simple-to-use cash back credit card with a lot of versatility, the Discover It Cash Back Card is another terrific option. On rotating quarterly segments like Amazon, grocery shops, restaurants, and petrol, the card earns 5% cash back. In addition, it earns a flat 1% cash-back on all other transactions. There is no annual fee on the card, and after the first year, you will receive a 2x cash back match.
The Discover it Cash Back credit card has no annual fee, unlike many other high-end rewards credit cards. As a result, it is a viable alternative for borrowers of various income levels and spending habits.
On the other hand, this isn’t the right card for you if you’re a regular traveler; in that case, the Capital One QuicksilverOne card is the best option. It levies no foreign transaction fees and gives flat 1.5% cashback on all purchases, unlike the Discover it Cash Back credit card, where you have categories.
Moreover, Discover does not usually accept applicants for this credit card who don’t have a credit score of at least 690. In contrast, you need a credit score of 630 to 689 if you wish to apply for Capital One QuicksilverOne Cash Rewards Credit Card. Hence, Capital One QuicksilverOne Cash Rewards Credit Card is a good choice if you have not got good credit.
Conclusion: Is Capital One Quicksilver One Worth it?
If you have average credit and want a low-maintenance cash back card, the Capital One QuicksilverOne Cash Rewards Credit Card is a good option. The 1.5 percent cash-back rate is comparable with other options, and you can boost your credit history as you get further. You can upgrade to a card with additional rewards after your credit score rises.
>>Related Topic: Best Chase Credit Cards • Compare Top Chase Credit Card of 2023
Capital One Quicksilver One FAQs
Is Capital One Quicksilver a good credit card to build?
According to the card issuer, the Capital One QuicksilverOne Cash Rewards Credit Card is intended for people with fair credit. Still, it offers a reasonable cashback rate, making it worth considering if you want to get rewarded while building your credit.
It can 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 loan default in the preceding five years, you may be accepted for the Capital One QuicksilverOne Cash Rewards Credit Card.
Cardholders of the Capital One QuicksilverOne Cash Rewards Credit Card get limitless 1.5 percent cash back on all purchases. Whenever it relates to redeeming rewards, Capital One makes it simple. You can get a check or a statement credit, apply your rewards to previous purchases on the account, or swap them in for gift cards. You can redeem cash at any moment during the account’s lifetime, and you may even build up an automatic redemption once your rewards hit a specified level.
Cardholders may be eligible for a greater credit line after paying their first five monthly payments on time. This can improve your credit score. Your credit scores are determined mainly by your repayments records and credit usage, or the amount of credit you have allocated in comparison to the amount of money you owe.
So, depending on the requirement, it can be a really good credit card to build.
What credit score do you need for the Capital One Quicksilver one?
You need a credit score of 630 to 689 if you wish to apply for Capital One QuicksilverOne Cash Rewards Credit Card.