Capital One® QuicksilverOne® Cash Rewards Credit Card Review

Elizabeth is a writer specializing in credit cards, student loans, debt repayment, and small business. Her work has also appeared on MSN Money, Yahoo! Finance, and Business Insider.

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People with limited credit histories don’t typically have access to the highest rewards credit cards on the market. Capital One® QuicksilverOne® Cash Rewards Credit Card attempts to fill the gap, offering unlimited 1.5% cash back on all purchases. Cardholders who pay off their balances each month to avoid interest charges may reap the most value with this card but they will have to balance the cash-back benefits with an annual fee.

Capital One® QuicksilverOne® Cash Rewards Credit Card

Capital One® QuicksilverOne® Cash Rewards Credit Card

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Our Bottom Line

The lucrative cash rewards program is a welcome benefit that's rare in this category. We only wish you didn't have to pay an annual fee to take advantage of those rewards.

What we Like:
  • Unlimited 1.5% cash back
  • No cash-back redemption minimum
Key Scores:
4.5 5 Perks
2.5 5 Fees
3.5 5 APR
Perks 4.5/5
Fees 2.5/5
APR 3.5/5
  • Annual Fee: $39
  • Regular APR: 26.99% Variable
  • Intro APR: Purchases: N/A Balance Transfers: N/A
Highlights
  • Earn unlimited 1.5% cash back on every purchase, every day
  • Earn cash rewards without signing up for rotating categories
  • Get access to a higher credit line after making your first 5 monthly payments on time
  • 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
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What I like about the card

Unlimited 1.5% cash back on all purchases -- I like the flexibility and simplicity of flat cash back programs for people building credit, not cash-back programs that require cardholders to manually opt in to quarterly bonus categories. Simplicity wins when debt is an all too common outcome for many credit card users.

Flexible cash-back redemption -- Not only is Capital One® QuicksilverOne® Cash Rewards Credit Card’s cash-back rate high, but redemptions are flexible. Statement credits can be requested with no minimum, whereas many cards slap a $25 minimum on cash redemptions. Cardholders can also have their rewards automatically redeemed for statement credits monthly, which is another attractive feature.

No foreign transaction fees -- Pesky foreign transaction fees can quickly add up when whipping out credit cards for purchases abroad. Besides, we’re all a bit looser with our wallets while on vacation. Fortunately, the card has nixed the typical 3% foreign transaction fee many card issuers charge. That’s a savings of $60 on $2,000 worth of international spending!

What could be improved

High APR – Cardholders with tarnished, or no, credit histories won’t receive the best interest rates on the market. This card is no exception, charging a high variable APR.

Annual fee – Part of the price paid for perks like 1.5% cash back is a $39 annual fee. Granted, it’s a small fee, but cardholders are essentially being incentivized to spend to offset the annual fee with cash-back rewards. I’d prefer no annual fee and less of an incentive for cardholders to run up balances.

How to best use

To make the most of your cash back spending

First, determine if you’re planning to pay off balances monthly or not before applying. Balances paid off like clockwork before the due date will not be charged interest, thus harvesting the full 1.5% cash-back value. Otherwise, carrying a balance from month-to-month to receive 1.5% cash back is a losing strategy, especially when interest tallies up at higher double-digit rates.

To breakeven on the annual fee

Cardholders will need to spend at least $2,600 on credit each year (39 ÷ 0.015) to breakeven when earning 1.5% cash back and paying an annual fee. At any amount less than that, a no annual-fee credit card may offer a better “true” rewards rate. Check out our picks of the best cash-back credit cards for a few suggestions.

Another offer to consider

If the Capital One® QuicksilverOne® Cash Rewards Credit Card doesn't seem like the perfect fit for you, here's another great option to check out and compare side by side. Cardholders who spend more in bonus categories can earn premium rewards compared to a flat 1.5% cash back.

As of Oct. 22, 2019
Capital One® Quicksilver® Cash Rewards Credit Card Discover it® Cash Back
Rating image, 4.5 out of 5 stars.
4.5 stars
ToolTip Icon for Star Rating. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor.
Rating image, 4.5 out of 5 stars.
4.5 stars
ToolTip Icon for Star Rating. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor.
Apply Now
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On Capital One's Secure Website.

Read Full Review
Apply Now
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On Discover's Secure Website.

Read Full Review Rates & Fees

Credit Rating Requirement: Good/Excellent Clickable tooltip icon for credit rating info.

Credit Rating Requirement: Good/Excellent Clickable tooltip icon for credit rating info.

Bonus: $150 after spending $500 within 3 months of account opening Bonus: Double cash back in the first year
Rewards Program: Unlimited 1.5% cash back Rewards Program: Earn 5% cash back in rotating quarterly categories you activate ($1,500 quarterly spending cap), 1% back on all else
Intro APR: Purchases: 0%, for 15 months Balance Transfers: 0%, for 15 months Intro APR: Purchases: 0%, 14 months Balance Transfers: 0%, 14 months
Regular APR: 15.74% - 25.74% Variable Regular APR: 13.49% - 24.49% Variable
Annual Fee: $0 Annual Fee: $0

Highlights:

  • One-time $150 cash bonus after you spend $500 on purchases within 3 months from account opening
  • Earn unlimited 1.5% cash back on every purchase, every day
  • No rotating categories or sign-ups needed to earn cash rewards; plus, cash back won't expire for the life of the account and there's no limit to how much you can earn
  • 0% intro APR on purchases for 15 months; 15.74%-25.74% variable APR after that
  • 0% intro APR on balance transfers for 15 months; 15.74%-25.74% variable APR after that; 3% fee on the amounts transferred within the first 15 months
  • Pay no annual fee or foreign transaction fees

Highlights:

  • INTRO OFFER: Discover will match ALL the cash back you've earned at the end of your first year, automatically. There's no signing up. And no limit to how much is matched.
  • Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com and more up to the quarterly maximum, each time you activate.
  • Plus, earn unlimited 1% cash back on all other purchases - automatically.
  • Redeem cash back any amount, any time. Rewards never expire.
  • Use your rewards at Amazon.com checkout.
  • Get an alert if we find your Social Security number on any of thousands of Dark Web sites.* Activate for free.
  • No annual fee.

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Apply Now
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On Capital One's Secure Website.

Show More Arrow graphic to expand and collapse content
Apply Now
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On Discover's Secure Website.

Final take

Capital One® QuicksilverOne® Cash Rewards Credit Card is a good option for the right type of cardholder. I’d prefer no annual fee and a lower APR, especially for people either building their credit histories or spending minimally. But for cardholders who pay off their balances each month and who want the utmost simplicity and flexibility with rewards, Capital One® QuicksilverOne® Cash Rewards Credit Card is an option to consider.

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