Capital One QuicksilverOne Card Review
Why trust us? Investor.com has no financial relationship with any of the credit card providers whose products we analyze and review. Our opinions are based solely on data and our own extensive independent research — that means unbiased guidance for consumers. Rewards cards in our cashback credit card calculator are listed in descending order according to how much money they pay out annually based on the inputs.
A $39 annual fee buys you zero sign-up incentives and a middling (albeit unlimited) 1.5% cashback rate. It’ll do … for now.
If your credit is less than stellar, this card lets you see if you’ll get approved without dinging your credit score. If it’s a “yes,” prepare to pony up a $39 annual fee for a 1.5% rewards rate and very few of the extras that come standard with other Quicksilver cards. As your credit improves, so will your credit line (and hopefully your eligibility for another, better card).
The basics: Earn 1.5% unlimited cashback on all purchases and 5% cashback on hotels and rental cards booked through Capital One Travel. $39 annual fee. Requires “fair credit” to qualify.
Capital One QuicksilverOne
Capital One QuicksilverOne pros and cons
- Unlimited 1.5% cash back on every purchase
- 5% cashback on hotels and rental cards booked through Capital One Travel
- No foreign transaction fee
- Automatic credit line reviews
- $39 annual fee
- No rewards bonus categories
- No new cardmember offer
- No balance transfer deal
- 1.5% cashback rate is the starting point for many cards
Capital One QuicksilverOne cashback rewards spending categories
The following table shows the cashback rewards rate per $1 spent in the six most common spending categories. The “Bonus Rate” refers to the amount you can earn in excess of the card’s standard rewards rate.
Some cashback cards limit the spending amount eligible for the bonus rate (a.k.a. the “Spend Cap”). Once you hit that cap (e.g. $1,500 spending in a particular category during a defined time period), the rewards rate on future purchases in that category reverts to the lower “Default Rate.”
|Category||Default Rate||Bonus Rate||Bonus Spend Cap||Bonus Spend Period (Months)|
What we like
You don't need perfect credit for approval. According to Capital One's standards, those with “fair credit” can qualify. Think students, new U.S. citizens, people with a limited credit history or those who have defaulted on a loan in the past five years.
The main pitch for this card is that there’s no cap on the 1.5% cash back rewards you earn on all purchases, regardless of category. Easy peasy, no tracking, rotating or calculating required.
Travelers, take note: You'll earn 5% cashback on hotels and rental cars booked through Capital One Travel.
Six months after approval, Capital One will automatically review your credit line to see if you qualify for an increase.
Redemption options include getting a statement credit, check, or using rewards to purchase gift cards. And some rewards are transferable between Capital One accounts.
Comes with CreditWise, a service that alerts you to changes in your TransUnion and Experian credit files — a handy addition for those working on improving their credit.
Capital One lets you see if you prequalify for the QuicksilverOne without impacting your credit score (as in it won’t generate a “hard inquiry” that can cost you some points). If you qualify, you can formally apply which can temporarily affect your credit score.
What we don't like
The $39 annual fee buys you access — no extras. According to our math, you’ll need to spend $2,600 to earn back the fee in rewards cash.
There are no bonus rewards categories, meaning the underwhelming 1.5% cashback is the most you’ll get. (Reality check: That’s $15 back per $1,000 in spending. A buck fifty per $100 spend.)
Forget about earning a sign-up bonus or low intro APR (like some of the other Quicksilver cards). The "bonus" here is getting approved for a rewards credit card.
The bottom line
Is the Capital One QuicksilverOne the best rewards card for your wallet? The answer depends entirely on your spending patterns. Let the numbers speak for themselves: Use the investor.com Cashback Credit Card Calculator to see which credit card pays back the highest rewards based on how much you spend each month.
Capital One QuicksilverOne fine print
For your reading pleasure, the terms and conditions for the Capital One QuicksilverOne card.
Does the Capital One QuicksilverOne charge an annual fee?
Yes, the Capital One QuicksilverOne charges an annual fee of $39.
Roughly 14% of the consumer cashback cards we track in our database charge an annual fee. The average annual fee is $72.60, while the median is $95.
Does the Capital One QuicksilverOne offer a welcome bonus?
No, the Capital One QuicksilverOne card does not currently offer a welcome bonus.
Of the more than 60 cashback credit cards in our database, 66% offer a welcome bonus. Currently, the average sign-up bonus on a new cashback card is $210.71, with the median being $200.
How much cashback can I earn with the Capital One QuicksilverOne?
The average American that spends $1000 per month will earn $141.00 in cash back per year using the Capital One QuicksilverOne. For comparison, the average annual rewards payout from the cashback credit cards in the investor.com database is $191.26, and $180 is the median.
These calculations are based on average consumer spending data from the Bureau of Labor Statistics (BLS) and the reward payout rates from the providers we track. Of course, you’re so much more than an average data point (aka “consumer unit,” in BLS parlance). The amount you can earn in cashback rewards using the Capital One QuicksilverOne depends entirely on your unique spending habits.
Find out exactly how much you’ll rake in with the Capital One QuicksilverOne by tailoring the spending inputs in the calculator above.
The results of the investor.com Credit Card Rewards Calculator are based on the monthly spending amounts you enter and the annual dollar value of the rewards each credit card program pays per $1 spent. Credit card companies often express this payout amount as a percentage (e.g., 1.5% of every dollar spent) or on a points basis (e.g. ,1.5 points for every dollar spent). We converted all of them to a dollar amount (“Cash Back Per Year”) to make comparing offers easier.
To calculate the amount of cash back you could earn per year, we factored in:
- Spend category inputs: The default dollar values for each “Spend Category” in the Best Cashback Credit Cards tool — gas, groceries, travel, restaurant, entertainment, pharmacy, other — are based on average American spending data from the Consumer Expenditure Surveys from the U.S. Bureau of Labor Statistics. We also include additional spend categories (such as streaming services, online shopping, utilities, transit, Amazon and more) to help you see which rewards cards are most closely aligned with your actual spending patterns. We encourage you to customize the monthly spend inputs for the most accurate results.
- Tiered rewards rates: If a rewards credit card pays higher cashback rates on certain spending categories (also called “Bonus Rewards”), that difference is reflected in the total “Cash Back Per Year” tally.
- Rewards spending caps: Some cards impose category- or time-based limits (monthly, quarterly, annually) that affect the amount of rewards you can earn. For example, a card may pay 3% cash back on groceries on up to $1,000 of spending each quarter, then revert to the base/default rewards rate until the following quarter. We accounted for bonus spending caps and timeframe in the calculations.
- Default rewards rates: Purchases that exceed a spending cap are usually subject to a lower default rewards rate (e.g., 1% or 1.5%). We mathed that out too.
- Annual fees: If a rewards card charges an annual fee, we deducted that amount from the “Cash Back Per Year” total to provide a true accounting of a card’s annual rewards payout.
What’s not included in the “Cash Back Per Year” total is the cash value of any sign-up/introductory bonus. We highlight any Welcome Bonus separately. While sign-up bonuses can be the most lucrative part of getting a new cashback rewards credit card, not everyone will want or be able to do what it takes to earn the extra cash. (It usually requires spending a certain amount in a specified time period after the card is activated.)
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