The 10-second guide to Capital One QuicksilverOne Cash Rewards Credit Card
- 1.5% cash back rewards on an unsecured credit card with a $39 annual fee.
- Automatic reviews for credit line increases, starting in six months from account opening.
- Available to consumers with fair credit.
Getting cash back on everything you purchase by using a credit card offering rewards can be a great deal — as long as you’re not carrying a balance and paying a high APR. But if you’ve defaulted on a debt in the last five years or have limited credit history, most banks won’t approve you for lucrative cash back and travel rewards credit cards.
If you’ve applied and been denied for rewards cards in the past, you might think that getting a secured card, settling for a credit card that offers no rewards, or using cash and prepaid cards are your only options. Fortunately, the Capital One QuicksilverOne Cash Rewards Credit Card is available to people with fair credit.
The Capital One QuicksilverOne Cash Rewards Credit Card features 1.5% cash rewards on every purchase, making it a respectable rewards credit card. But the card can also help you improve your credit. As a QuicksilverOne cardholder, you will automatically be considered for a credit line increase in as little as six months. A larger credit line can mean an increase in your credit score.
Between the rewards, automatic credit line increases, and the fraud protection you get simply by using a credit card, you’ll likely find enough value in the card to justify its $39 annual fee.
Capital One QuicksilverOne Cash Rewards Credit Card review
- 1.5% cash back rewards on everything you buy with the card.
- 5% cash back on hotel and rental car bookings through Capital One Travel.
- Automatic consideration for a credit line increase in as little as six months.
- $39 annual fee.
Pros and cons
- Easy to remember rewards structure.
- Available to consumers with fair credit.
- Automatic credit line reviews in as little as six months.
- No additional benefits like extended warranty or purchase protection.
- $39 annual fee.
Current welcome offer
How to earn rewards
The QuicksilverOne Cash Rewards card from Capital One offers 1.5% cash back rewards on every purchase, with no limits on the amount you can earn and no categories to track. The card also offers unlimited 5% cash back on hotel and rental car bookings made through Capital One Travel.
How to redeem rewards
The QuicksilverOne Cash Rewards credit card’s cash back rewards can be redeemed for cash back redemptions, statement credits to offset recent purchases, or gift cards. Most cardmembers will want to redeem rewards for cash back unless Capital One is running a gift card sale.
Cash back redemptions
When you redeem your rewards for cash, Capital One will either send you a check or apply cash back rewards to your card account as a statement credit. You can also set up automated redemption for cash back rewards. If you choose automatic redemption, you can opt to cash in your rewards at a set time each calendar year or once you accumulate a certain amount.
Redeem for a recent purchase
You can also redeem your rewards to cover a specific recent purchase. When you use your rewards this way, you’ll get a statement credit in the amount of the purchase you select.
Finally, you can redeem your rewards for gift cards. Gift card redemptions are unlikely to yield more reward value than a cash back redemption, unless Capital One is running a sale that gives you more than the cash back value of your rewards.
- Uber One monthly membership benefit – Receive up to six months of complimentary Uber One membership when you enroll and charge your Uber One monthly membership to your card through 11/14/2024.
- Account alerts – Be notified about account activity or get text message reminders about upcoming payment due dates.
- Autopay – Ensure you never miss a payment by linking your checking account to pay your statement balance each month.
- $0 fraud liability – If your card is lost or stolen, you’re not responsible for unauthorized charges.
- No foreign transaction fees – When you use your card while traveling, you won’t be charged extra for purchases made in another country or currency.
Who it’s good for
If you have fair credit, aren’t carrying a balance on a credit card, and want a credit card to use for everyday spending, the Capital One QuicksilverOne Cash Rewards Credit Card is a decent option. The card offers a realistic chance of approval for an unsecured credit card, paired with meaningful cash back rewards.
The main downside of the card is its $39 annual fee, but if you’re spending more than about $220 every month using your card, the amount of cash back rewards you earn will mean the card pays for itself.
Who should look elsewhere
Although Capital One offers the Capital One QuicksilverOne card to consumers with fair credit, if you’ve had a few defaults, you may need a secured card to help you build your credit. The Quicksilver Secured Cash Rewards Credit Card might be a good option for you. You’ll need to put down a deposit to secure your credit line, but the card offers 1.5% cash back rewards plus a path to increase your credit score and upgrade to an unsecured credit card. Once you qualify and convert your account to an unsecured credit card, Capital One will return your deposit.
If you have a well-established good credit score, you might qualify for the Capital One Quicksilver Cash Rewards card. The Quicksilver offers the same 1.5% cash back rewards as the QuicksilverOne card, but with no annual fee, a welcome bonus for new cardmembers, and additional benefits like extended warranty.
Editorial Disclosure: All articles are prepared by editorial staff and contributors. Opinions expressed therein are solely those of the editorial team and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in this article is accurate as of the date of the publish. Check the lender’s website for the most current information.
This article was originally published on SFGate.com and reviewed by Lauren Williamson, who serves as Financial and Home Services Editor for the Hearst E-Commerce team. Email her at [email protected].