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Capital One QuicksilverOne Card Review

Written by Dayana Yochim
Edited by Carolyn Kimball
Fact-checked by Andrea Coombes

March 12, 2024

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.

If you've got some baggage in your credit history, a $39 annual fee buys access to a 1.5% cash back card with no sign-up incentives. It’ll do … for now.

Capital One lets you see if you’ll get approved for the QuicksilverOne card without dinging your credit score. If it’s a "yes," you'll qualify for the same 1.5% cash back rewards rate cardholders earn with the bank's premium version of this card — the Quicksilver Rewards card, which requires "excellent" credit.

What's missing from the QuicksilverOne card is a welcome bonus and 0% introductory APR on purchases and balance transfers. Also, because the card is aimed at those trying to improve their credit, expect a lower starting credit line — from three figures (as in "hundreds") to maybe a few thousand dollars, depending on the applicant's credit history. 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.

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dining Dining

theater_comedy Entertainment

local_gas_station Gas

shopping_cart Groceries

monetization_on Other

local_pharmacy Pharmacy

card_travel Travel

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Calculate Cash Back

Best for Rewards Card Newbies

Capital One QuicksilverOne

Cashback Per Year

$...

Annual Fee

$39

Welcome Bonus

N/A

Apply Now

Want to compare more cards? Use our full calculator.

Capital One QuicksilverOne pros and cons

thumb_up_off_alt Pros

Unlimited 1.5% cash back on every purchase
5% cash back on hotels and rental cards booked through Capital One Travel
Offers preapproval application
No foreign transaction fee
Automatic credit line reviews

thumb_down_off_alt Cons

$39 annual fee
No new cardmember offer
No balance transfer deal
1.5% cash back 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 (aka 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)
Gas	1.50%	-	-	-
Travel	1.50%	-	-	-
Dining	1.50%	-	-	-
Entertainment	1.50%	-	-	-
Pharmacy	1.50%	-	-	-
Groceries	1.50%	-	-	-
Other Purchases	1.50%	-	-	-

Note: The Capital One QuicksilverOne Rewards card also pays an unlimited 5% cash back on hotels and rental cars booked through Capital One Travel.

What we like

You don't need perfect credit for approval. According to Capital One's standards, those with “fair credit” can qualify for the QuicksilverOne card. 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.

Unlimited 1.5% on purchases. The main pitch for this card is the 1.5% cash back rewards rate on all purchases, regardless of spending category. This rate is higher than what's available on other rewards cards for credit builders. For example, the Petal 2 Visa Card starts customers at 1% cash back, raising the rewards rate to 1.25% after six on-time payments and 1.5% after 12 .

Travelers, take note: You'll earn 5% cashback on hotels and rental cars booked through Capital One Travel.

Foreign travelers take note: Capital One charges no foreign transaction fees on purchases outside of the U.S. Consider that a 3% savings, which is the fee many other rewards cards charge.

Automatic credit line review. In as little as six months after you've been approved for the QuicksilverOne card, Capital One will consider granting cardholders a credit line increase .

Redemption options include getting a statement credit, getting a check, or using rewards to purchase gift cards. 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.

Prequalification available. Capital One lets you see if you'll be approved for the QuicksilverOne without impacting your credit score. Filling out the prequalification application will not generate a “hard inquiry," which can cost you some points. You'll be allowed to review the terms of the offer before you formally apply for the card.

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.

Forget about earning a sign-up bonus or low intro APR. The Quicksilver Rewards card — which requires excellent credit for approval — is the only offering in this Quicksilver card lineup that offers a welcome bonus and 0% introductory APR. The "bonus" here is getting approved for a rewards credit card.

High APR and cash advance fee. The nosebleed interest rate on unpaid balances and 5% ($5 minimum) cash advance fee should discourage cardholders from incurring debt and using the card as an ATM.

Potentially low credit limit. Like all banks, Capital One determines a cardholder's credit line based on information provided in the application and Like all The QuicksilverOne 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.

tips_and_updates Trivia time!

How common are annual fees? Roughly 17% of the consumer cash back cards we review charge an annual fee. They range from $39 to $99, with an average annual fee of $67.

Does the Capital One QuicksilverOne offer a welcome bonus?

No, the Capital One QuicksilverOne card does not currently offer a welcome bonus.

tips_and_updates Fun fact

More than half (55%) of the consumer cash back credit cards we track in the investor.com database offer a welcome bonus, ranging from $30 up to $300. The average sign-up bonus for new cardholders is $197, 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.

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Methodology

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.)

About the Editorial Team

Dayana Yochim has been writing (articles, books, podcasts, stirring speeches) about personal finance and investing for more than two decades, focusing on bringing clarity and the occasional comedic aside to what is often a murky, humorless topic. She’s written for NerdWallet, The Motley Fool, HerMoney.com, Woman’s Day, Forbes, Newsweek and others, and been a guest expert on "Today," "Good Morning America," CNN, NPR and wherever they’ll hand her a mic.

Carolyn Kimball is a former managing editor for Reink Media Group and investor.com. Carolyn has more than 20 years of writing and editing experience at major media outlets including NerdWallet, the Los Angeles Times and the San Jose Mercury News. She specializes in coverage of personal financial products and services, wielding her editing skills to clarify complex (some might say befuddling) topics to help consumers make informed decisions about their money.

Andrea Coombes has 20+ years of experience helping people reach their financial goals. Her personal finance articles have appeared in the Wall Street Journal, USA Today, MarketWatch, Forbes, and other publications, and she's shared her expertise on CBS, NPR, "Marketplace," and more. She's been a financial coach and certified consumer credit counselor, and is working on becoming a Certified Financial Planner. She knows that owning pets isn't necessarily the best financial decision; her dog and two cats would argue this point.