Capital One QuicksilverOne Cash Rewards Credit Card Review 2020

Rating:
4.4/5
4.4 stars out of 5

The Smart Investor has collected card information independently. Issuers did not provide the details, nor are they responsible for their accuracy. The review is not a recommendation, the actual rates/fees may be different.

The Capital One QuicksilverOne Cash Rewards Credit Card is a low-effort card that offers the card holder unlimited cash back. While this isn’t the best credit card deal around in terms of rewards, it is a great deal for people who wouldn’t qualify for another credit card that has better reward redemption options.

The major benefit of getting the QuicksilverOne Cash Rewards credit card is to build your credit history and increase your credit score by showing lenders you make payments on time and are responsible with borrowed money.

Another great benefit that comes along with the Capital One QuicksilverOne Cash Rewards Credit Card is the fact that on ALL purchases that this card is used for, there is 1.5% cash back rewards – with no rewards limits. 

The card also offers super useful feature for average credit customers – the card doesn’t charge balance transfer. It’s a benefit that we almost don’t see on other cards.

On the negative side – the card has $39 annual fee, and the ongoing APR is very high – 26.99%.

QuicksilverOne Cash Rewards

On Capital One’s Secure Website

Our Bottom Line

  • Simple and Attractive

Credit Rating Requirements

  • Average – Good Credit

PROS

  • 1.5% cash back on all purchases
  • No rewards Limits

CONS

  • Fees – $39 annual fee
  • Not the Best Rewards Rates on The Market

Highlights

  • Option to get higher credit after 5 months of payments
  • No Transfer Fees
  • No-Cost Fraud Liability

Here’s a summary of the main pros & cons (click to see explanation or scroll down):

Pros

Cons

Capital One QuicksilverOne Cash Rewards Credit Card – Benefits

Let’s take a look at the benefits of the QuicksilverOne Cash card and see if it’s the right one for your wallet or not.

  • Build Your Credit

The major benefit of getting the QuicksilverOne Cash Rewards credit card is to build your credit history and increase your credit score by showing lenders you make payments on time and are responsible with borrowed money. 

Secured credit cards give you smaller credit lines to help you build the habits needed to grow your score while keeping the risk level down so you can’t put yourself in lots of credit card debt

With the Capital One QuicksilverOne Cash Rewards card your credit counts towards all 3 credit bureaus like a normal credit card and you’ll find many different tools on Capital One’s website to help you monitor and grow your score. 

You can also increase your credit limit after paying on time successfully for your first 5 payments..

  • 1.5% Cash Back on All Purchases

Another great benefit that comes along with the Capital One QuicksilverOne Cash Rewards Credit Card is the fact that on ALL purchases that this card is used for, there is 1.5% cash back rewards. 

While this isn’t the best cash back rate of return out there compared to other credit cards, this is certainly something to consider as many of the other credit cards will not give the card holder cash back for all purchases on the card, and if they do it isn’t as high as 1.5%.

The rewards rates can be used as cash back on any purchase, or can simply be a statement credit that the cardholder receives when they decide to cash in their rewards points.

  • No Rewards Limits

When you begin to accumulate enough points on the Capital One QuicksilverOne Cash Rewards Credit Card to begin redeem rewards, there is no reward limit that the card holder has to worry about.

 Cardholders can use rewards for as some as low as the a $1.99 soda if they want, or can use them to pay for larger rewards as they see fit. 

Many cash back rewards credit cards will place minimum purchases or restrictions so that the cardholder can only redeem rewards occasionally or for larger things in order to keep reward redemption to a minimum, so not having to worry about this is a fantastic bonus for any new potential cardholder.

  • No Transfer Fees

A great benefit that the Capital One QuicksilverOne Cash Rewards Credit Card offers to their cardholders is the fact that they offer no transfer fees on the card. 

Most credit cards offer anywhere from 3%-5% transfer fees for any type of transfer across cards, so the fact that the Capital One QuicksilverOne Cash Rewards Credit Card offers no transfer fees is a great bonus for any cardholder.

  • No-Cost Fraud Liability

Another major benefit to the Capital One QuicksilverOne Cash Rewards Credit Card is the fact that all cardholders have no-cost fraud liability, which simply means that a cardholder isn’t charged or held liable if their card is lost or stolen and someone else uses the card. 

This is a massive benefit that will save the cardholder time, money, and stress, as all they would have to do is call the credit card service and report the Capital One QuicksilverOne Cash Rewards Credit Card as missing or stolen.

Capital One QuicksilverOne Cash Rewards Credit Card – Drawbacks

Let’s take a look at the drawbacks of the QuicksilverOne Cash credit card and see if it’s the right one for your wallet or not.

  • Annual Fee

The only true downfall to the Capital One QuicksilverOne Cash Rewards Credit Card is that is does come with a $39 annual fee. 

While this is much lower than most credit cards that come with an annual fee, this is still something to consider for any potential applicant who was hoping to avoid annual fees.

  • Redemption Limits

Besides cash back, there are limited options to redeem your rewards. In addition, you won’t be able to transfer rewards to other cards or loyalty programs.

 

  • High Variable APR

The QuicksilverOne Cash Rewards’s variable APR is higher than normal, up to 26.99%. 

This is higher than other comparison cards, and can certainly be beaten by other potential cards that an applicant might be interested in.

  • Not the Best Rewards Rates on The Market

If you shop around, you can find cards with higher pure cash back .

Alternatives to Capital One QuicksilverOne Cash Rewards Credit Card

There are other credit cards that do offer comparable cash back rewards – we’ve summarized the most popular cards which can use as an alternative to the QuicksilverOne Cash Rewards Credit Card:

  • Capital One Walmart Credit Card 

Capital One Walmart Credit Card  is one of the credit cards on the market that is a store card that allows borrowers who do not have perfect credit to apply and be approved. 

The Walmart Credit Card earns 5% cash back at Walmart.com and Walmart app. This includes orders made online and products picked up at local stores. Also, the card earns 2% cash back on Walmart stores,restaurants & travel and gas. This must be at Walmart or Murphy USA gas stations.

The Walmart Credit Card also earns 1% on all spending at everywhere else where Mastercards acceptedAlso, as part of an Introductory offer for new cardholders, you earn 5% back in Walmart stores for the first 12 months when you use your Capital One® Walmart Rewards™ Card with Walmart Pay.

The card has no annual fee and the fact that average credit is also accepted, it can be good for those who want to build or rebuild their credit.

  • Capital One Quicksilver Cash Rewards Credit Card

The Quicklsilver cash rewards card’s earns 1.5% rewards on every dollar spent everywhere. While that’s generally lower than the SavorOne, the Capital One Quicksilver Cash Rewards Credit Card makes up for it with exciting perks. 

In addition to the aforementioned intro 0% APR periods on both balance transfers and purchases, this card offers a sign-up bonus of $150 once you spend $500 in the first three months, as well as a lower variable APR range between 15.49% and 25.49% after the intro period. The Quicksilver cash rewards card does not come with an annual fee.

However, there is 3% fee on the amounts transferred within the first 15 months.

HSBC Cash Rewards Mastercard is a straight forward cash back rewards card for those looking simplify their rewards or consumers looking to spend a bunch in the first year of opening.

This card has a generous 3% cash back on all spending in the first year and a competitive 1.5% cash back on all other spendings. Also, the HSBC Cash Rewards does not have an annual fee.

One of the top notch benefits is the 0% Introductory APR on purchases and balance transfers for the first 12 months from Account opening. The ongoing APR for the HSBC Cash Rewards Mastercard is a 12.99%-22.99%.

This card is also fits for traveling in that it is does not have a foreign transaction fee and cardholders and earn cash back on their purchases during travel.

Is the Capital One QuicksilverOne Cash Rewards Credit Card Right for You?

The Capital One QuicksilverOne Cash Rewards Credit Card is a low-effort card that offers the card holder unlimited cash back. While this isn’t the best credit card deal around in terms of rewards, it is a great deal for people who wouldn’t qualify for another credit card that has better reward redemption options.

If you’re the type of person who wants a low-effort card that still give you some type of reward for using it, then look no further than the Capital One QuicksilverOne Cash Rewards Credit Card. However, if you want more flexible reward options, or have a higher level of credit established, then consider looking to other options