How Does LendingTree Get Paid?
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How Does LendingTree Get Paid?

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Capital One QuicksilverOne Cash Rewards Credit Card

Capital One QuicksilverOne Cash Rewards Credit Card

Capital One QuicksilverOne Cash Rewards Credit Card

Rewards Rate
1.5% Cash Back on every purchase, every day
No Limits or Restrictions
No rotating categories, cash back won't expire for the life of the account and no limit to how much you can earn
Regular Purchase APR
26.99% (Variable)
Edited by
Julie Sherrier
Reviewed by
Glen Luke Flanagan
Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

Who is the Capital One QuicksilverOne Cash Rewards Credit Card best for?

Looking to improve your credit score? The Capital One QuicksilverOne Cash Rewards Credit Card can help you do that as it is marketed to those with average/fair/limited credit, while also offering a flat-rate cashback rewards program.

Having a credit card account reporting responsible borrowing and repayment behavior to the credit bureaus is a great way to boost a sagging credit score as long as you make payments on time and don’t max out the card.

The Capital One QuicksilverOne Cash Rewards Credit Card does come with a $39 annual fee, but does not require a security deposit, unlike many cards marketed to those with average/fair/limited credit scores.

We break down the pros and cons of this card and provide an alternative card to consider: the Discover it® Secured Credit Card, which is also geared toward consumers with limited/bad/poor credit.

Capital One QuicksilverOne Cash Rewards Credit Card overview

    • Earn unlimited 1.5% cash back on every purchase, every day
    • Earn cash rewards without signing up for rotating categories
    • Be automatically considered for a higher credit line in as little as 6 months
    • Monitor your credit profile with the CreditWise® app, free for everyone
    • $0 fraud liability if your card is ever lost or stolen
    • No limit to how much cash back you can earn, and cash back doesn't expire for the life of the account
    • Help strengthen your credit for the future with responsible card use
    • Get customized alerts and manage your account with the Capital One mobile app
  • Credit needed:
    520 679
    Average/Fair/Limited
  • Free credit score
  • Extended warranty
  • Auto rental insurance
  • Travel accident insurance
  • 24/7 travel assistance services

Intro Purchase APR

N/A

Regular Purchase APR

26.99% (Variable)

Intro BT APR

N/A

Regular BT APR

26.99% (Variable)

Annual Fee

$39

Cash Advance Fee

3% of the amount of the cash advance, but not less than $10

Foreign Transaction Fee

None

Balance Transfer Fee

$0 at this Transfer APR

Pros and cons

Pros

  • No security deposit
  • Marketed to consumers with average/fair/limited credit
  • Flat-rate cashback rate on purchases
  • Automatic credit line reviews
  • Monitor credit score via CreditWise from Capital One
  • Foreign transaction fee: none

Cons

  • High APR
  • Annual fee
  • No signup bonus
  • No intro 0% APR offers for either purchases or balance transfers

What we like about the Capital One QuicksilverOne Cash Rewards Credit Card

  • Credit building opportunity

    The Capital One QuicksilverOne Cash Rewards Credit Card is aimed at applicants with average/fair/limited credit – with a fair credit score being one that falls in the 580 to 669 range, according to FICO®.

    Since fair credit is just one step above poor credit, applicants with fair or average credit have a more limited selection of cards for which they could qualify for. Some cards that accept applicants with less-than-stellar credit may have opaque terms and expensive fees, but the Capital One QuicksilverOne Cash Rewards Credit Card has a reasonable $39 annual fee and does not require a security deposit.

  • Cash back rewards

    Earn 1.5% cash back on every purchase, every day. That’s a solid cashback rate, especially for a card for applicants with average/fair/limited credit. While there are cards offering 2% cash back or more, they typically require good or excellent credit to qualify.

    Your cash back rewards can be redeemed as as a statement credit, check, to cover a recent purchase or for gift cards.

  • Foreign transaction fee: none

    If you’re traveling abroad, don’t worry about paying a foreign transaction fee on each purchase made outside the United States.

What to watch out for with the Capital One QuicksilverOne Cash Rewards Credit Card

  • Annual fee

    The Capital One QuicksilverOne Cash Rewards Credit Card charges a modest $39 annual fee. However, you can recoup that much in cash back by spending $2,600 each year on the card.

  • High APR

    The APR is 26.99% (variable). However, that’s in line with other cards for average/fair/limited credit. By paying off your card in full each month, you can avoid interest charges altogether.

  • No intro APR for purchases or balance transfers

    The Capital One QuicksilverOne Cash Rewards Credit Card does not come with any 0% introductory offers for purchases or balance transfers.

  • No signup bonus

    Many other cashback cards offer a sign-up bonus you can earn after spending a set amount within the first three months of having the card. This one doesn’t – but it’s worth noting that cards for average/fair/limited credit are less likely to offer sign-up bonuses.

  • Low credit limit

    If approved for the Capital One QuicksilverOne Cash Rewards Credit Card, new cardholders will initially be granted a credit line of at least $300, but after six months the issuer will review your account to see if you qualify for a higher credit limit.

Alternate credit-building card to the Capital One QuicksilverOne Cash Rewards Credit Card

Compare it to the Discover it® Secured Credit Card

Disclosures |
Discover it® Secured Credit Card
Discover it® Secured Credit Card
on Discover's secure site
N/A
22.99% Variable APR
$0
2% cash back at Gas Stations and Restaurants on up to $1,000
  • No Annual Fee, earn cash back, and build your credit with responsible use.
  • Using your secured credit card helps build a credit history with the three major credit bureaus. Generally, prepaid and debit cards can’t do that.
  • Establish your credit line with your tax return by providing a refundable security deposit of at least $200. Bank information must be provided when submitting your deposit.
  • Automatic reviews starting at 7 months to see if we can transition you to an unsecured line of credit and return your deposit.*
  • Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. Plus, earn unlimited 1% cash back on all other purchases – automatically.
  • Discover is accepted nationwide by 99% of the places that take credit cards.
  • Get 100% U.S. based customer service & get your free Credit Scorecard with your FICO® Credit Score.
  • INTRO OFFER: Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.
  • Get an alert if we find your Social Security number on any of thousands of Dark Web sites.* Activate for free.
  • Click "APPLY NOW" to see rewards, FICO® Credit Score terms, Cashback Match™ details & other information.
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How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

Another credit card that’s a great choice for building up your credit score is the Discover it® Secured Credit Card. A secured credit card requires a deposit that serves as your credit line and protects the issuer in case you default on payments. Generally, minimum deposits for a secured card are around $200.

Though the Discover it® Secured Credit Card requires a security deposit ranging from $200 to $2,500, you can get your deposit refunded if you pay your card off and close the account, or if Discover graduates you to an unsecured card (one that doesn’t require a deposit).

After you’ve used the card for eight months, Discover begins conducting automatic reviews to see if you quality for a deposit refund. This upgrade isn’t guaranteed, and Discover factors in your behavior across all your credit products (not just those issued by Discover). Despite that, automatic monthly reviews is a great feature.

Which card earns the most cash back depends on how frequently you spend on gas station and restaurant purchases as Discover it® Secured Credit Card cardholders can earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter, 1% unlimited cash back on all other purchases - automatically.

The Capital One QuicksilverOne Cash Rewards Credit Card has a higher cashback rate on all other purchases, and doesn’t have a spending limit after which it drops your earnings down to a lower rate. During the first year, though, the Discover it® Secured Credit Card wins easily due to the cashback match for new cardmembers: Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match. .

Compare the Capital One QuicksilverOne Cash Rewards Credit Card to similar cards

Comparison of four different credit cards
Capital One QuicksilverOne Cash Rewards Credit Card Discover it<sup>®</sup> Secured Credit Card OpenSky<sup>®</sup> Secured Visa<sup>®</sup> Credit Card Capital One Platinum Secured Credit Card
Capital One QuicksilverOne Cash Rewards Credit Card Discover it® Secured Credit Card OpenSky® Secured Visa® Credit Card Capital One Platinum Secured Credit Card
Apply Now
on Capital One's secure site
Apply Now
on Discover's secure site
Apply Now
on OpenSky's secure site
Apply Now
on Capital One's secure site
Annual Fee
$39 $0 $35 $0
Welcome Offer
No bonus Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match. N/A No bonus
Rewards Rate
1.5% Cash Back on every purchase, every day 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter, 1% unlimited cash back on all other purchases - automatically None Non-rewards Card
Intro Purchase APR
N/A N/A N/A N/A
Regular APR
26.99% (Variable) 22.99% Variable APR 17.39% (variable) 26.99% (Variable)
Recommended Credit
Average/Fair/Limited Limited/Bad/Poor Limited/Bad/Poor Limited/Bad
Card Details
Capital One QuicksilverOne Cash Rewards Credit Card Discover it® Secured Credit Card OpenSky® Secured Visa® Credit Card Capital One Platinum Secured Credit Card

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

The Capital One QuicksilverOne Cash Rewards Credit Card is a good credit card for applicants with average/fair/limited credit who are looking to build up their credit score with responsible usage and don’t want to pay a deposit for a secured card.

If approved, you’ll get a credit limit of at least $300, but after six months the issuer will automatically review your account and payment behavior to see if you qualify for a higher credit limit. And after demonstrating responsible payment history, you may eventually be able to request a product change to the $0-annual-fee Capital One Quicksilver Cash Rewards for Good Credit.

Apply Now
on Capital One's secure site