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Capital One QuicksilverOne Credit Card Review

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This article was last updated Jun 13, 2018, but some terms and conditions may have changed or are no longer available. For the most accurate and up to date information please consult the terms and conditions found on the issuer website.

It’s hard to see any downsides with the Capital One® QuicksilverOne® Cash Rewards Credit Card for those with average credit. Other cards for those with limited credit may require a deposit — this one doesn’t.

If you’re trying to rebuild your credit, this card is a good option. The card’s reasonable $39 annual fee is another big plus. And you automatically get 1.5% Cash Back on every purchase, every day with this card.

Take your cash back as a statement credit, gift cards, a check or use it as credits for past purchases. You also have the option to set automatic redemptions at a specific time each calendar year or when a threshold ($25, $50, $100 or $200) has been reached, eliminating the need to keep track of quarterly changes like other cards in this category.

The Capital One® QuicksilverOne® Cash Rewards Credit Card’s credit limit depends on a review of your application. If accepted, you’ll get at least a $300 limit. It also comes with perks — including car rental and travel accident insurance and price protection — that you usually only see in cards that require good-to-excellent credit. And if you’re traveling overseas, there’s no foreign transaction fee.

Drawbacks? An annual fee and the lack of a sign-up bonus you usually see with other cashback cards. Other cards offer greater cash back, but you need better credit to get them.

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

The Capital One® QuicksilverOne® Cash Rewards Credit Card card is a strong option for those who have average credit who also want the perks that come with cards that have higher credit requirements. While there is no sign-up bonus with this card, you do get 1.5% Cash Back on every purchase, every day.

The card comes with a 24.74% (Variable) purchase APR, a 24.74% (Variable) balance transfer rate, along with a $0 balance transfer fee.

Where the Capital One® QuicksilverOne® Cash Rewards Credit Card stands out in its category

The biggest benefit of the Capital One® QuicksilverOne® Cash Rewards Credit Card is that even with average credit, you get 1.5% Cash Back on every purchase, every day, along with perks like extended warranty and travel insurance, things that are more common with cards in the excellent/good credit range. The card’s $39 annual fee is reasonable, and you’re not required to put down a security deposit in order to get credit.

There’s no cap on the amount of cash back you can earn and it doesn’t expire as long as the card remains open.

Where the Capital One® QuicksilverOne® Cash Rewards Credit Card falls short in its category

Some may be put off that there’s No bonus, but considering the cash back and perks that come with this card  — along with its low $39 annual fee — there’s not much to dislike with this card.

Additional card benefits

  • Extended warranty. Get additional warranty protection at no charge on items bought with the Capital One® QuicksilverOne® Cash Rewards Credit Card.
  • Auto rental insurance. Your card can cover rental car damage due to collision or theft.
  • Travel accident insurance. Insurance for loss of life or limb at no extra charge when you use the card to buy your airfare.
  • 24/7 travel assistance services. If your credit card is lost or stolen, you can get an emergency card replacement and a cash advance.
  • 24/7 roadside assistance. If your car breaks down or you get locked out, you’ll get help.
  • Price protection. Reimburses the difference in price on eligible items should you find a lower price for the same item within 60 days from the date of purchase on items paid for with your card.
  • Free credit score. Get unlimited access to this from CreditWise® from Capital One®.

Compare it with the Discover it® Secured

A competitor to the Capital One® QuicksilverOne® Cash Rewards Credit Card is the Discover it® Secured. This card is also designed to help those in the range of Poor/New to Credit. The card has a $0 annual fee, but you are required to put down a refundable deposit of at least $200 based on your creditworthiness.

Like the Capital One® QuicksilverOne® Cash Rewards Credit Card, the Discover it® Secured is one of the few in this category that has cashback rewards. The card offers 2% cash back at restaurants & gas stations on up to $1,000 in combined purchases each quarter. Plus, 1% cash back on all your other purchases. One big difference between the cards? For new cardmembers, Discover will automatically match all the cash back you earn at the end of your first year.

The card starts with an intro 10.99% APR for 6 Months APR for balance transfers that goes to a 24.49% Variable APR, along with a 3% balance transfer fee.

After eight months of consecutive on-time payments, the Discover it® Secured will automatically start reviewing your account to see if it can be moved over to an unsecured line of credit. And you can keep track of your FICO® credit score on monthly statements for free. But this card doesn’t have any of the travel and purchase perks that come with the Capital One® QuicksilverOne® Cash Rewards Credit Card.

 

Capital One® QuicksilverOne® Cash Rewards Credit Card Discover it® Secured
Annual Fee $39 $0
Balance Transfer Intro Rate N/A 10.99% APR for 6 Months
Balance Transfer Fee $0 3%
Regular Purchase APR 24.74% (Variable) 24.49% Variable
Rewards 1.5% Cash Back on every purchase, every day 2% cash back at restaurants & gas stations on up to $1,000 in combined purchases each quarter. Plus, 1% cash back on all your other purchases
Foreign Transaction Fee None None

 

Sign-up bonus.

Winner: Discover it® Secured

Discover will automatically match all the cash back you earn at the end of your first year.

Annual fee.

Winner: Discover it® Secured

This card has a $0 annual fee, which is better than the Capital One® QuicksilverOne® Cash Rewards Credit Card’s $39 annual fee.

Balance Transfer Intro Rate

Winner: Discover it® Secured

The Discover it® Secured offers an intro 10.99% APR for 6 Months, while the Capital One® QuicksilverOne® Cash Rewards Credit Card doesn’t offer one.

Rewards.

Winner: Discover it® Secured

This card offers 2% cash back at restaurants & gas stations on up to $1,000 in combined purchases each quarter. Plus, 1% cash back on all your other purchases. And Discover will automatically match all the cash back you earn at the end of your first year.

Redeeming rewards.

Winner: Discover it® Secured

While the Discover it® Secured and the Capital One® QuicksilverOne® Cash Rewards Credit Card credit your account when redeeming cash back, the Discover it® Secured also allows you to use it to pay for goods at Amazon.com.

Foreign transaction fee.

Winner: None

Neither card charges a foreign transaction fee.

Extra perks.

Winner: Capital One® QuicksilverOne® Cash Rewards Credit Card

The Capital One® QuicksilverOne® Cash Rewards Credit Card has good travel and purchase perks that usually come with cards that require better credit.

Overall winner: Discover it® Secured

If you’re counting strictly based on the above list, the Discover it® Secured comes out on top. It takes the win thanks to the automatic cashback match after your first year with the card and a slightly better 2% cash back at restaurants & gas stations on up to $1,000 in combined purchases each quarter. Plus, 1% cash back on all your other purchases. But our money is on the Capital One® QuicksilverOne® Cash Rewards Credit Card —  this card delivers robust perks without the need for a deposit.


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September 20, 2017