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Capital One QuicksilverOne: Above-Average Rewards for Average Credit

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Capital One QuicksilverOne Card Review

Capital One® QuicksilverOne® Cash Rewards Credit Card Editor's Rating: 3.2 / 5

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, all year long. Every time you swipe, you save.

Capital One® QuicksilverOne® Cash Rewards Credit Card: Benefits and basics

The Capital One® QuicksilverOne® Cash Rewards Credit Card gives you an unlimited 1.5% cash back on all spending year round. Along with that, one feature makes the Capital One® QuicksilverOne® Cash Rewards Credit Card stand out.

Redeem any amount, at any time

Where some other cards restrict how and when you can redeem cash back, the Capital One® QuicksilverOne® Cash Rewards Credit Card allows cardholders to do so whenever they please. You can even set up auto-redemption, where cash back is automatically used as a statement credit when it hits a certain threshold ($25, $50, $100 or $200). This level of redemption flexibility complements the card’s already flexible earning structure.

» MORE: Capital One credit cards mobile app review

Capital One® QuicksilverOne® Cash Rewards Credit Card: Pitfalls and other possibilities

Though the Capital One® QuicksilverOne® Cash Rewards Credit Card has many things going for it, there are some reasons you might want to explore other choices.

Annual fee isn’t waived

If you want the Capital One® QuicksilverOne® Cash Rewards Credit Card, it’s going to cost you. This card comes with an annual fee of $39, which isn’t too lofty, but it’s an added cost nonetheless. If you spend $2,600 or more with this card over the course of the year, the cash back you earn will balance out the annual fee. You can use our calculator to help you weigh whether the annual fee makes sense for you.

If you’re set on finding a card with an annual fee that’s waived, or with no fee at all, you have options. The US Bank LifeMiles Visa Secured’s annual fee is waived the first year and $25 every year thereafter. With this card, you earn 1 LifeMile per $1 spent, along with a 5,000 LifeMiles Bonus - with first purchase.

LifeMiles can be redeemed for flights to more than 1,300 destinations worldwide on airlines in the Star Alliance network; carriers include United Airlines, Lufthansa and Asiana.

Remember, though, that the US Bank LifeMiles Visa Secured is a secured card, which means it will require a deposit; this card needs a deposit of at least $300 upon application. This deposit matches your credit line and will be used as collateral should you not pay your bill.

No sign-up bonus

Many cash-back cards come with a bonus, but that’s not the case with the Capital One® QuicksilverOne® Cash Rewards Credit Card. For most, this probably isn’t a deal breaker, but some extra cash from the start would be a welcome add-on.

No bonus cash-back categories

The Capital One® QuicksilverOne® Cash Rewards Credit Card offers cash back on all purchases, all at the same 1.5%. For those who prefer not to have to think about where and how they’re earning rewards, this card is perfect. But other people may be looking for a card that offers higher reward rates on specific categories.

A cash-back card that offers a 5% bonus in rotating categories, the Chase Freedom® is an option for people with good credit willing to sacrifice rewards flexibility for a higher return. Categories have included gas, groceries, restaurants and wholesale clubs, but you have to opt in each quarter to earn the higher bonus. All other purchases earn 1% cash back per dollar spent. The annual fee is $0.

If you want to know what other cash-back credit card alternatives might be available to you, consult our list of top rated credit cards.

Is the Capital One® QuicksilverOne® Cash Rewards Credit Card right for you?

Those who are seeking a low-effort card that includes a solid unlimited rewards rate on all purchases will likely find that the Capital One® QuicksilverOne® Cash Rewards Credit Card suits all of their needs. If you’re looking to be more active in your spending, using select cards on purchases that offer higher reward rates, there are certainly alternatives that earn more cash back.

See here for more information.

Kevin Cash is a staff writer at NerdWallet, a personal finance website. Email: kcash@nerdwallet.com. Twitter: @kevin_cash.


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