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Capital One® QuicksilverOne® Cash Rewards Credit Card: Is It Worth It?

  • On Capital One's Secure Website
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Capital One® QuicksilverOne® Cash Rewards Credit Card: Is It Worth It?

The Capital One® QuicksilverOne® Cash Rewards Credit Card is aimed at individuals with average credit, who still want decent cashback rewards.
Editor's Rating: 4.0/5.0
{"onCurrent":true,"message":"Our team rates credit cards objectively based on independent research, the features the credit card offers users, and how it compares with other available cards in its category. The ratings are the opinion of our editors, and are not influenced by any outside factors, including any compensation the site may receive from certain advertisers."}

Editor's Rating

{"onCurrent":true,"message":"Our team rates credit cards objectively based on independent research, the features the credit card offers users, and how it compares with other available cards in its category. The ratings are the opinion of our editors, and are not influenced by any outside factors, including any compensation the site may receive from certain advertisers."}

4.0/5.0

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any credit card issuer.

The Capital One® QuicksilverOne® Cash Rewards Credit Card lets you earn 1.5% cash back on every purchase and comes with a $0 balance transfer fee.

However, its high balance transfer APR 26.74% (Variable) makes it best suited for those who don’t plan on transferring a balance from another card — plus, it has a $39 annual fee.

Here’s what you should know about the everyday rewards card.

Capital One® QuicksilverOne® Cash Rewards Credit Card review: Solid rewards for those with average credit

Unlimited 1.5% cash back

This card’s main draw is the unlimited 1.5% cash back on every purchase. For example, if you charged $1,000 to the card each month for a year, you’d earn $180 cash back.

There are no categories, so general spenders will find more rewards than they might with a more specialized card, such as one that gives you cash back for dining out and entertainment. Earned rewards won’t expire as long as you don’t cancel the card, and there’s not limit of how much you’re able to earn.

You can get your cash back as a statement credit or check, or spend it on a gift card. You can also set up an automatic redemption so you can get it on a set day each year or when you reach a certain earnings threshold ($25, $50, $100, $200, $500 or $1,500). Lastly, you can apply the cash back directly to cover a recent purchase.

Average credit is accepted

The Capital One® QuicksilverOne® Cash Rewards Credit Card requires a minimum credit score that falls into the “average” category. As a general guideline with Capital One, average credit means that either you’ve defaulted on a loan in the past five years or you have a limited credit history. This could include students, people who are new to the U.S. or authorized users on another person’s credit card.

Opportunity to raise your credit score

Capital One will give you access to a higher credit limit if you can make your first five payments on time. However, this can be a pro or a con, depending on the consumer.

For example, a higher credit limit can boost your credit score because of the credit utilization factor. So, assuming you’re not adding to your revolving debt, a higher limit can lower your overall utilization and raise your score. But some people may see this increased credit limit as potentially dangerous, particularly if they are prone to overspending.

High variable purchase APR

The purchase APR for this card is 26.74% (Variable). For context, credit cards can have APRs as high as nearly 35%, but the best ones are going to be below 15%. So purely from an APR standpoint, this card is a bit high.

Of course, if you’re the type of person who doesn’t carry a balance, this won’t matter as much, since you wouldn’t be paying interest charges if you paid your card in full each month.

Annual fee

Capital One® QuicksilverOne® Cash Rewards Credit Card has a $39 annual fee, and there are similar rewards cards that don’t charge for this. For example, the Chase Freedom Unlimited® card offers the same unlimited rewards rate with a $0 annual fee. And while some other credit cards may waive the annual fee for the first year, the Capital One® QuicksilverOne® Cash Rewards Credit Card does not.

No fee for foreign transactions or balance transfers

This credit card charges a $0 foreign transaction fee and a $0 balance transfer fee. That means, theoretically, you could transfer a balance from another card onto this one for free, then use it overseas without incurring a fee — you would pay interest, of course, if you don’t pay off the balance.

However, unlike more traditional balance transfer cards, there is no promotional APR associated with balance transfers. So the only way this would be worth your effort would be if you were carrying a balance on a higher-rate card and wanted to save a bit on interest.

It’s also important to be aware that balance transfers do not earn rewards.

CreditWise

Capital One offers CreditWise, which gives you unlimited access to your VantageScore, as well as tools to help you monitor your credit profile.

You don’t have to sign up for a product with the company, but you will have to provide your Social Security number to access it. Using this, or a similar tool, can help you stay on top of your credit and figure out how to raise your score over time.

ValuePenguin’s verdict: Decent everyday rewards, but not much else

The Capital One® QuicksilverOne® Cash Rewards Credit Card does its job adequately: It gives qualified applicants access to a more generalized cashback rewards system and does not set limits around those rewards. It even goes so far as to open itself up to those who may not possess a perfect credit history.

However, it doesn’t do much for cardholders beyond that. While it has a $0 balance transfer fee, for example, there’s not a promotional 0% APR balance transfer offer to make that a quality perk. The purchase APR (26.74% (Variable)) is also on the high side, and does not offer a range. Instead, it gives all cardholders a singular, high base. That means that even those with slightly better credit would be paying the same rate than those who didn’t have great credit.

This card also comes with a $39 annual fee. You’d have to charge at least $2,600 a year to earn that figure back in rewards. And while it’s on the low side, some other cashback cards don’t charge this fee. Since it is an unavoidable cost, it’s something to consider when weighing your options.

All that said, this card does make rewards available to those who may not have perfect credit and are more general spenders. So it may still be worth considering, particularly if you prefer a no-frills financial product and don’t mind shelling out $39 a year in exchange.

Alternatives to the Capital One® QuicksilverOne® Cash Rewards Credit Card

While the Capital One® QuicksilverOne® Cash Rewards Credit Card may be good for those looking for a relatively easy rewards system, its $39 annual fee and general lack of other perks — such as a 0% introductory purchase APR or sign-up bonus — might make you want to look further into your cashback options.

And if you plan on carrying a balance, whether that’s via a balance transfer or purchases, there are other cards that may be more suited to your needs.

Here are a few solid ones that are worth considering if you’re looking for a good rewards card.

Unlimited 1.5% cash back and a sign-up bonus

  • On Chase's Secure Website
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Chase Freedom Unlimited®

  • On Chase's Secure Website
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$150 cash back after you spend $500 on purchases in your first 3 months from account opening.
  • Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening.
  • Earn unlimited 1.5% cash back on all purchases.
  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 16.49 - 25.24%.
  • 3% intro balance transfer fee when you transfer a balance during the first 60 days your account is open, with a minimum of $5
  • No annual fee
  • No minimum to redeem for cash back
  • Cash Back rewards do not expire as long as your account is open
  • Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening.
  • Earn unlimited 1.5% cash back on all purchases.
  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 16.49 - 25.24%.
  • 3% intro balance transfer fee when you transfer a balance during the first 60 days your account is open, with a minimum of $5
  • No annual fee
  • No minimum to redeem for cash back
  • Cash Back rewards do not expire as long as your account is open
Annual Fee
$0
Regular APR
16.49% - 25.24% Variable
Credit Needed
{"onCurrent":true,"message":"There are various types of credit scores. Each creditor uses a variety of different types of credit scores to make lending decisions."}
Excellent
Editor's Rating
{"onCurrent":true,"message":"Our team rates credit cards objectively based on independent research, the features the credit card offers users, and how it compares with other available cards in its category. The ratings are the opinion of our editors, and are not influenced by any outside factors, including any compensation the site may receive from certain advertisers."}

Similar to the Capital One® QuicksilverOne® Cash Rewards Credit Card, the Chase Freedom Unlimited® lets you earn an unlimited 1.5% cash back on every purchase. But it goes beyond that, letting you earn $150 cash back after you spend $500 on purchases in your first 3 months from account opening. Plus, there’s a $0 annual fee.

It also comes with a substantial bonus for those who have debt. You can get a 0% intro purchase or balance transfer offer for 15 months (after that, it’s a 16.49% - 25.24% Variable APR). Notably, though, it does have a balance transfer fee — either $5 or 5% of the amount of each transfer, whichever is greater.

It’s important to be aware that Chase does not go into detail about its credit requirements for this card, so it’s difficult to tell whether you’re likely to qualify.

2% cash back and a 0% intro APR on balance transfers

  • On Citi's Secure Website
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Citi® Double Cash Card

  • On Citi's Secure Website
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  • Earn cash back twice. Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
  • To earn cash back, pay at least the minimum due on time.
  • Balance Transfer Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 15.49% – 25.49%, based on your creditworthiness.
  • Click "Apply Now" to see the applicable balance transfer fee and how making a balance transfer impacts interest on purchases.
  • Balance Transfers do not earn cash back.
  • The standard variable APR for Citi Flex Plan is 15.49% – 25.49%, based on your creditworthiness. Citi Flex Plan offers are made available at Citi's discretion.
  • Earn cash back twice. Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
  • To earn cash back, pay at least the minimum due on time.
  • Balance Transfer Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 15.49% – 25.49%, based on your creditworthiness.
  • Click "Apply Now" to see the applicable balance transfer fee and how making a balance transfer impacts interest on purchases.
  • Balance Transfers do not earn cash back.
  • The standard variable APR for Citi Flex Plan is 15.49% – 25.49%, based on your creditworthiness. Citi Flex Plan offers are made available at Citi's discretion.
Annual Fee
$0
Regular APR
15.49% - 25.49% (Variable)
Credit Needed
{"onCurrent":true,"message":"There are various types of credit scores. Each creditor uses a variety of different types of credit scores to make lending decisions."}
Excellent, Good
Editor's Rating
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The Citi® Double Cash Card gives cardholders a nice incentive to pay off their balances: You earn 1% when you buy, and another 1% as you pay for those purchases.

Like the Capital One® QuicksilverOne® Cash Rewards Credit Card, it doesn’t limit the types of purchases or times of year during which you can earn rewards — it’s always 2% if you’re paying off the balance each month.

It also has a 0% intro APR on balance transfers for 18 months (after that, it’s a 15.49% - 25.49% (Variable) APR), and charges 3% for each balance transfer with a $5 minimum. (Know, however, that you won’t be earning rewards on that transferred amount.)

The annual fee is $0.

5% cash back for certain categories and a lower APR

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Discover it® Cash Back

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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.
  • 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.
  • Click "APPLY NOW" to see rates, rewards, FICO® Credit Score terms, Cashback Match™ details & other information.
  • 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.
  • Click "APPLY NOW" to see rates, rewards, FICO® Credit Score terms, Cashback Match™ details & other information.
Annual Fee
$0
Regular APR
13.49% - 24.49% Variable
Credit Needed
{"onCurrent":true,"message":"There are various types of credit scores. Each creditor uses a variety of different types of credit scores to make lending decisions."}
Excellent/Good
Editor's Rating
{"onCurrent":true,"message":"Our team rates credit cards objectively based on independent research, the features the credit card offers users, and how it compares with other available cards in its category. The ratings are the opinion of our editors, and are not influenced by any outside factors, including any compensation the site may receive from certain advertisers."}

The Discover it® Cash Back credit card lets you earn 5% cash back at different places, such as gas stations, grocery stores and restaurants, each quarter up to the quarterly maximum spend ($1,500) each time you activate. You earn 1% unlimited cash back on all other purchases.

That said, you can redeem earned rewards anytime for any amount. Also, 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.

There is no fee for your first late payment, and your APR will not go up if you pay late. And the purchase APR (13.49% - 24.49% Variable) is lower compared to the Capital One® QuicksilverOne® Cash Rewards Credit Card.

The card is offering a 0% intro APR on purchases and balance transfers for 14 months (after that, it's 26.74% (Variable), as well as a 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*. There is a $0 annual fee.

Comments and Questions

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Advertiser Disclosure: The products that appear on this site may be from companies from which ValuePenguin receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). ValuePenguin does not include all financial institutions or all products offered available in the marketplace.

How We Calculate Rewards: ValuePenguin calculates the value of rewards by estimating the dollar value of any points, miles or bonuses earned using the card less any associated annual fees. These estimates here are ValuePenguin's alone, not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

Example of how we calculate the rewards rates: When redeemed for travel through Ultimate Rewards, Chase Sapphire Preferred points are worth $0.0125 each. The card awards 2 points on travel and dining and 1 point on everything else. Therefore, we say the card has a 2.5% rewards rate on dining and travel (2 x $0.0125) and a 1.25% rewards rate on everything else (1 x $0.0125).