Capital One QuicksilverOne Review

Looking for a cash back card but don’t have great credit? QuicksilverOne from Capital One may be up your alley.

Cash back cards often come with appealing rewards rates and simple rewards schemes. With the promise of 1.5% cash back, CapitalOne’s QuicksilverOne credit card hits both of those marks while also being aimed at applicants who might not have the best credit scores. That means young businesses — or businesses with a limited credit history — may want to consider this as their next credit card.

Of course, QuicksilverOne is marketed as a consumer card and isn’t one of Capital One’s business-centric credit cards, so businesses looking at the QuicksilverOne card might want to keep that in mind. However, choosing to use a personal card for business can still be an excellent option with its own unique benefits.

Like the sound of the QuicksilverOne card so far? Keep reading to get the full details!

Eligibility

Capital One built the QuicksilverOne card for those aged 18 and above with fair or average credit. Per its website, Capital One considers your credit fair if you have:

• Defaulted on a loan in the past five years, OR
• Limited credit history of three years or less

You’ll likely also want to have a credit score of at least 580 — generally considered a fair credit score — before applying. Note that this number is just a recommendation; Capital One does not require a minimum credit score.

Don’t know your credit score? Find out by visiting one of our favorite (and free!) credit score sites.

QuicksilverOne From Capital One At A Glance

QuicksilverOne from Capital One Visit Site	Annual Fee: $39   Purchase APR: 26.99% (variable)
Required Credit: Fair Welcome Offer: None Intro Purchase APR: N/A Intro Balance Transfer APR: N/A Foreign Transaction Fee: None Rewards: Unlimited 1.5% cash back on all purchases Featured Benefit: Automatic reviews for a higher credit line: Get a credit line review in as soon as six months. More card details (click to expand) Hide

Rewards For Spending

Despite being for fair credit users, the Capital One QuicksilverOne credit card still packs a punch when it comes to rewards.

Unlimited 1.5% Cash Back On All Purchases

This card’s rewards scheme is simple: You collect an unlimited 1.5% cash back on all purchases. This simplicity makes the QuicksilverOne card a great choice for those who spend across a wide array of categories or don’t want to deal with the calculus that comes with complex points programs.

Plus, 1.5% back is a competitive rate when considering that this card is for fair credit users. Of course, if you need a travel card or a card that rewards more for specific purchases, you may want to look elsewhere.

Redeeming Rewards

As a cash back card, the Capital One QuicksilverOne card allows rewards to be redeemed for cash back. But there are a few quirks in the card’s redemption process to keep in mind.

Earn Rewards As Cash Back

When you choose to receive your QuicksilverOne rewards as cash back, you can get a check sent your way, or you can receive them as a statement credit. To cash in your rewards, you’ll use Capital One’s online portal or mobile app. You can redeem the cash back for any amount — there’s no minimum limit.

Multiple Redemption Options

Besides earning cash back, you can also use rewards to cover a recent purchase or to get gift cards. Note that the redemption rate may differ when redeeming rewards for gift cards.

Rewards Don’t Expire

As long as your account is active, your rewards won’t expire. Note, however, that if you close your account, you will lose any unredeemed rewards.

Card Benefits

As one of the major players in the credit card realm, Capital One usually does a solid job when it comes to extra benefits. The QuicksilverOne credit card is no exception — you’ll have access to a slew of perks if you add this bit of plastic to your wallet’s arsenal.

Get Access To A Higher Credit Line

Because the QuicksilverOne card is targeted at those with fair credit, its userbase might not have the best credit line available off the bat. However, Capital One claims that users may receive an automatic credit line increase in as little as six months. Of course, any credit line boost requires responsible credit card use — you’ll need to pay off your balance regularly and on time if you want to gain access to a higher credit line.

Fraud Coverage & Alerts

To help protect your account, Capital One will notify you via phone, text message, or email if it notices anything suspicious on your account.

You’ll also be covered by $0 fraud liability if your card becomes lost or stolen, and authorized charges are placed on the card. Also, should your card go amiss, Capital One enables the ability to lock your card — preventing fraudsters from even placing charges.

With Capital One’s AI assistant, Eno, you can request temporary virtual numbers that help protect your actual credit card number from being stolen on online marketplaces. Eno also alerts you in case of potential mistakes or unexpected charges.

Account Management Tools

Capital One includes a slew of account management tools with its cards. You’ll be able to view monthly recurring transactions (such as subscriptions or bills) through Capital One’s online portal. On top of this, you can set your card payment to be paid off automatically each month as well as set an authorized user for your card.

Travel Perks

While the Capital One QuicksilverOne card isn’t a travel card, there are still a few benefits that can aid any traveler. These include:

• Emergency card replacement
• ATM location services
• Tap to pay

Rates & Fees

Despite having a solid cash back rate and some excellent benefits, not everything is sunshine and roses with the Capital One QuicksilverOne credit card. You’ll want to be wary that the card features a higher-than-average APR, and there’s an annual fee to boot.

A Higher-Than-Average APR

With an APR of 26.99% (variable), cardholders will be paying a bit more interest than they might with other cards on the market. This high APR is presumably because the QuicksilverOne card targets fair credit users, who might be riskier than those with better credit.

Of course, you can avoid paying the APR as long as you pay off your balance in full every month.

Annual Fee Of $39

As a bit of a downer, this card includes a $39 annual fee. While it’s not as hefty as some other annual fees out there, it’s still an annual fee nonetheless.

At $39 per year, you’ll need to spend at least $6,333 annually* to overcome the fee with the card’s reward rate of 1.5% cash back. Once you break the $6,333 spending barrier, then rewards will start earning you cash.

* How we got this number: $39 annual fee / 1.5% cash back = $6,333.

No Foreign Transaction Fee

While you do have to keep in mind the card’s APR and annual fee, there isn’t a foreign transaction fee to worry about. If you travel frequently but don’t need a travel-specific card (or can’t qualify for one), this could be a bonus for you.

Other Fees

There are no balance transfer fees with the QuicksilverOne card, but there is a fee for cash advances: either $10 or 3% of the advance, whichever is higher.

Is QuicksilverOne From Capital One Right For You?

You might want to apply for the Capital One QuicksilverOne card if:

• You have fair credit and want to earn cash back with every purchase
• You are looking for a card to help you build credit
• You’ll spend enough to overcome the $39 annual fee

You might want to look for a different card if:

• Your credit score is high enough to apply for cards with better rewards and benefits
• You’d prefer a card designed specifically for business use
• You won’t spend enough to make the $39 annual fee worth it
• You may carry a balance and want to avoid a high APR

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Ramp offers a free corporate card for virtually any business. Start earning rewards with your corporate spending today. Get your free card.