Capital One QuicksilverOne Cash Rewards Review: Build Credit While Earning Cash Back

The Capital One QuicksilverOne Cash Rewards card is a solid credit card for consumers with fair credit who want to build their credit profile and earn rewards. We rate it a 4.6 out of 5 for credit cards for those with fair credit for its accessibility for lower credit scores, being an unsecured card and offering a 1.5% cash back rate. The card is best suited for those already paying off balances in full and on time each month.

Its high 29.99% variable APR and $39 annual fee make it less ideal for those still managing debt. If you're not always paying your credit cards on time and in full, consider other cards with lower interest rates and no annual fees.

The QuicksilverOne card is a variant of the Capital One Quicksilver Cash Rewards Credit Card, but QuicksilverOne is accessible for those with fair credit, while Quicksilver requires good to excellent credit. If you have fair credit, responsible use of the QuicksilverOne over time can lead to an upgrade to the Quicksilver card.

The QuicksilverOne card's rewards program offers straightforward, unlimited 1.5% cash back on every purchase. This rate is competitive for fair-credit-score cards and ranks third in effective reward rate among its peers.

It doesn't match the 2% offered by the Citi Double Cash® Card, a top-rated cash back card that requires good credit or better, but it's a solid choice for consumers with fair credit looking to earn consistent rewards.

Redemption options include statement credits, checks or gift cards and do not expire as long as your account is in good standing.

Capital One’s pre-approval process is nine steps online. It took us less than five minutes to fill out and find out if we were pre-approved for the card. Pre-approval is fairly standard for larger issuers, so you can find out if you’ll get the card without a hard credit pull. However, it is not guaranteed approval.

The QuicksilverOne card is accessible for consumers with fair credit, which translates to a FICO score between 580 and 669. Online accounts from cardholders indicate that weaker credit scores often start with a $300 credit limit.

Customer satisfaction with the QuicksilverOne card is generally positive, with an issuer satisfaction rating of 4.2 out of 5. Users in online forums appreciate the card's effectiveness in credit building and commend Capital One's customer service, particularly in handling fraud.

Despite these positives, frustration with credit line increase denials and delayed credit availability are the more constructive criticisms we found from reading cardholder posts online.

The QuicksilverOne card's best perks include its automatic credit line review and credit monitoring tools. These are standard for most major credit card issuers but remain helpful, especially when you're building your credit score. You may also sleep easier with the card's $0 Fraud Liability policy for any unauthorized charges.

The QuicksilverOne card's interest rates and fees are a mixed bag. While the penalty fees are competitive within other fair credit score credit cards, the high 29.99% variable APR is a drawback, ranking among the highest of fair credit cards. Here's a breakdown of the fees and penalties you can expect:

• Annual Fee: $39
• Regular APR: 29.99% variable
• Cash Advance Fee: Either $5 or 5% of the amount of each cash advance, whichever is greater
• Foreign Transaction Fee: None
• Late Payment Fee: Up to $40
• Overlimit Fee: None
• Balance Transfer Fee: 4% of the amount of each transferred balance that posts to your account at a promotional APR the issuer may offer you

To help you find the best cards for your needs, we’ve compared the Capital One QuicksilverOne Cash Rewards card with similar cash back cards.

The Capital One QuicksilverOne Cash Rewards Credit Card is a reasonable choice if you have fair credit and want to build your credit profile while earning cash back. It’s less forgiving than other cards for fair credit with a 29.99% variable APR and $39 annual fee, but also more rewarding. With on-time payments, you can increase your credit line and score and upgrade the card to the no-annual-fee Quicksilver or Capital One VentureOne Rewards Card.

We evaluated the Capital One QuicksilverOne Cash Rewards Credit Card among 13 cards. Here's a breakdown of the score weights we applied to different card factors to make an informed comparison:

• 30%: Minimum security deposit, rated 5 for no deposit required.
• 15%: Annual fee, rated 2.9, where 5 is no annual fee.
• 15%: Regular APR, rated 1.9, where 5 is the lowest APR.
• 15%: Penalties, rated 4, where 5 is no penalty rates or fees.
• 10%: Issuer satisfaction, rated 4.2
• 5%: Introductory purchase offer, rated 0 as there is no offer.
• 5%: Recommended credit, rated 3, where 5 is available to almost all credit scores.
• 5%: Effective reward rate, rated 3.7 based on rewards earning potential.

For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.