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Capital One QuicksilverOne Cash Rewards Credit Card – Overview
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
QuicksilverOne Cash Rewards
On Capital One’s Secure Website
Simple and Attractive
Average – Good Credit
1.5% cash back on all purchases – All purchases, no execptions
No rewards Limits – No minimum purchases or redemption restrictions
Fees and APR – $39 annual fee, 26.96% variable APR
- Option to get higher credit after 5 months of payments
- No Transfer Fees
- No-Cost Fraud Liability
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
Possibly the best 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.
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.
High variable APR
The QuicksilverOne Cash Rewards’s variable APR is higher than normal, standing at 26.96%. 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
While the United Explorer Card does waive the annual fee for the first year, there are really hardly any other perks past this. Comparable travel rewards cards such as the Bank of America Travel Rewards card don’t have an annual fee to have an active account, and offer an Intro APR of 0% for the first 12 billing cycles.
Alternatives to Capital One QuicksilverOne Cash Rewards Credit Card
Discover It Cash Back Credit Card
With the Discover It Cash Back credit card you’re earning 1% cash back on all purchases and can earn 5% cash back on select spending categories each quarter. Cash back can be redeemed anytime as statement credit or as cash. It also offers a lengthy 0% APR intro period on purchases and balance transfers giving you time to pay off your balance without interest. As with all Discover credit cards, you won’t have to pay an annual fee. You also don’t have to pay a foreign transaction fee, but you will have a balance transfer fee of 3%.
Amazon Prime Rewards Visa Signature Credit Card
The Amazon Prime Rewards Visa Signature Card is about as good as it gets when it comes to co-branded credit cards. Cardholders with prime memberships will certainly see the value since they are already avid Amazon users. For many people, the perk of unlimited 5% cash back on Amazon and Whole Foods purchases on top of the other rewards on purchase will truly just be a bonus.Weighing in the fact that the card doesn’t have 0% intro APR and carries higher balance transfer fees than normal, some people might not see the value, as these might be must-haves for people looking for a new credit card. With this being said, this card might be as good as it gets for Amazon fans.
Citi Simplicity Credit Card Credit Card
The Citi Simplicity Card markets itself as the premier choice for the occasionally forgetful customer who still maintains good credit (660 or above). The card never charges late fees for any late payment, ever. Although you should always strive to pay your bills on time, this card can take you a long way if you’re prone to slip up every now and then. While most cards waive the fee on just the first late payment, the Citi Simplicity Card waives fees on all late payments. It also provides the freedom to choose payment due dates in order to accommodate any kind of financial situation.
Despite its exceptional forgiveness policy, the card has no kind of rewards program enticing customers to swipe. There’s also a sizable difference in duration for the card’s intro 0% APR periods on purchases and balance transfers, which, as you’ll see, can come into conflict with the card’s seemingly generous interest policy.
Is the Capital One QuicksilverOne Cash Rewards Credit Card Right for You?
The Capital One QuicksilverOne Cash Rewards Credit Card, for all intents and purposes, an extremely simple credit card. Designed to help people with average credit build their credit higher.