Capital One QuicksilverOne Review: Above-Average Rewards for Average Credit

People with fair credit can earn 1.5% cash back on every purchase. That's the same rewards rate that the issuer offers to those with excellent credit, although this card has a fee.
Aug 16, 2022

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Our Take

4.7

NerdWallet rating 
The bottom line:

If you put more than $2,600 a year on this card — around $220 a month — this is a top-notch card, as the rewards will make up for the fee.

Jump to: Full Review
Capital One QuicksilverOne Credit Card
Annual fee
$39
Regular APR
26.99% Variable APR
Intro APR
N/A
Rec. credit score
630-689 (Average)
Apply now

on Capital One's website

Quick Facts

Pros & Cons

Pros

  • Qualify with average credit

  • High rewards rate

  • No foreign transaction fees

Cons

  • Has annual fee

  • High APR

Alternate Pick: No annual fee
Upgrade Visa® Card with Cash Rewards
NerdWallet rating 
Upgrade Cash Rewards Visa®
1.5% cash back on all purchases.

This card charges an annual fee of $0 and earns 1.5% back on all purchases. It accepts applicants with poor credit scores and above and doesn’t require an upfront security deposit.

Read our review

Compare to Other Cards

NerdWallet rating 
NerdWallet rating 
NerdWallet rating 
Annual fee

$39

Annual fee

$0

Annual fee

$35

Regular APR

26.99% Variable APR

Regular APR

25.24% Variable APR

Regular APR

18.89% Variable APR

Intro APR

N/A

Intro APR

10.99% intro APR on Balance Transfers for 6 months

Intro APR

N/A

Recommended Credit Score
Recommended Credit Score
Recommended Credit Score
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Full Review

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, every time you use it.

Capital One QuicksilverOne Cash Rewards Credit Card: Basics

Card type: Cash back and fair credit.

Annual fee: $39.

Sign-up bonus: None.

Rewards: Unlimited 1.5% cash back on all purchases, plus earn unlimited 5% cash back on hotels and rental cars booked through the Capital One Travel portal.

Interest rate: The ongoing APR is 26.99% Variable APR.

Capital One QuicksilverOne Cash Rewards Credit Card vs. Capital One Quicksilver Cash Rewards Credit Card

The Capital One QuicksilverOne Cash Rewards Credit Card gives you 1.5% cash back on nearly every purchase. This is the same rewards rate you’ll get with the regular version of this card, the Capital One Quicksilver Cash Rewards Credit Card — which is available to those with excellent credit.

However, there are some key differences between the two cards:

  • The Capital One QuicksilverOne Cash Rewards Credit Card has an annual fee of $39, while the version for those with excellent credit charges an annual fee of $0.

  • Holders of the Capital One Quicksilver Cash Rewards Credit Card are eligible for the following sign up bonus: One-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening. The Capital One QuicksilverOne Cash Rewards Credit Card, on the other hand, offers no sign-up bonus.

  • The Capital One Quicksilver Cash Rewards Credit Card also comes with a promotional interest-free period for purchases and balance transfers. The Capital One QuicksilverOne Cash Rewards Credit Card has no 0% introductory APR period.

🤓Nerdy Tip

Capital One offers a suite of Quicksilver-branded cards for differing credit scores. For example, the issuer offers a Quicksilver Rewards card for consumers with good credit — which doesn’t charge an annual fee but doesn’t come with an introductory APR offer or a sign-up bonus. Capital One also offers a Quicksilver product for college students, as well as a secured version for those looking to build or establish credit.

Why you might want the Capital One QuicksilverOne Cash Rewards Credit Card

You’ll earn rewards

Some cards aimed at those with fair credit don’t come with rewards. But the Capital One QuicksilverOne Cash Rewards Credit Card earns cash back that's on par with the industry average for flat-rate rewards. Holders will earn a simple 1.5% back on nearly everything, which means there are no bonus categories to keep track of. Plus, an unlimited 5% cash back on hotels and rental cars booked through Capital One Travel.

And unlike some other cash-back cards, the Capital One QuicksilverOne Cash Rewards Credit Card has no restrictions on how and when you can redeem those rewards. Cardholders can redeem in any amount at any time. They can even set up auto-redemption, where cash back is automatically applied as a statement credit when it reaches a certain threshold ($25, $50, $100 or $200).

Opportunity to increase your credit limit

Cardholders may be automatically considered for a higher credit line after at least six months of having the card. This means that with responsible card usage and improved credit, the maximum spend amount on your card may be increased. This allows for more wiggle room to keep credit utilization low, which can positively impact your credit score.

There’s no security deposit

For consumers with poor or average credit, secured credit cards are sometimes the best card options. While secured cards can help to build up credit, they typically require upfront cash security deposits that act as collateral.

With the Capital One QuicksilverOne Cash Rewards Credit Card, however, holders are not required to put down any money once they are approved. This makes the card less costly upfront than some alternative credit card options.

Drawbacks and alternatives 

Although the card’s $39 annual fee isn't too lofty, it is still an added cost. You have to spend at least $2,600 a year, or an average of $217 per month, with this card to make up for the yearly cost. Use our calculator to see how much you could earn.

If paying an annual fee is not worth it for you, consider these alternative options that don’t charge one:

Capital One Platinum Credit Card: This card from the same issuer charges an annual fee of $0 but offers no rewards. It accepts applicants with average credit and is a good card to use to build a strong credit history in preparation for moving up to a better card.

Upgrade Cash Rewards Visa®: The $0-annual-fee card earns 1.5% cash back on all purchases; the cash back is applied as a statement credit. The card accepts applicants with poor credit scores and above, and it doesn’t require an upfront security deposit.

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

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

The Capital One QuicksilverOne Cash Rewards Credit Card is a low-effort card that offers unlimited cash back for people who might not qualify for other good rewards cards. The annual fee is a consideration, but if you're using this card wisely — as a stepping stone to better credit and better credit cards — someday you'll be able to put that cost behind you.

on Capital One's website

Methodology

NerdWallet reviews credit cards with an eye toward both the quantitative and qualitative features of a card. Quantitative features are those that boil down to dollars and cents, such as fees, interest rates, rewards (including earning rates and redemption values) and the cash value of benefits and perks. Qualitative factors are those that affect how easy or difficult it is for a typical cardholder to get good value from the card. They include such things as the ease of application, simplicity of the rewards structure, the likelihood of using certain features, and whether a card is well-suited to everyday use or is best reserved for specific purchases. Our star ratings serve as a general gauge of how each card compares with others in its class, but star ratings are intended to be just one consideration when a consumer is choosing a credit card. Learn how NerdWallet rates credit cards.