Capital One® QuicksilverOne® Cash Rewards Review: The Cashback Rewards Card for Everyone [2020]

You won’t need a perfect credit score to get in on these easy cashback deals.
Last updated Nov 16, 2019 | By Larissa Runkle

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The Capital One® QuicksilverOne® Cash Rewards Credit Card has a lot of perks worth being excited about, but its biggest benefit is probably that people with fair credit scores can get in on cashback deals and even qualify for credit limit increases.

With a low annual fee of $39 and unlimited 1.5% cash back on every purchase, this card is definitely one to consider for anyone in need of a straightforward cashback card to use while improving their credit.

Easy cash back rewards

Benefits

  • 1.5% unlimited cash back on every purchase, every day
  • Access to a higher credit line after you make your first 5 monthly payments on time
  • CreditWise to monitor your credit score


Who should get this card?

The QuicksilverOne from Capital One is a great card for people with fair credit scores looking for a cashback card. One of the things this card does best is reward users with an automatic credit limit increase after they make five monthly payments on time.

It also allows people with average credit to earn pretty good cash rewards, all while charging a comparatively low annual fee of $39. With a straightforward rewards system of unlimited 1.5% cash back on every purchase and a flexible redeeming structure, this card is one that even beginners can quickly master.

If your credit score is above average, you might consider a card that offers more competitive rewards. Alternatively, if you’re currently on a tight budget, the annual fee is something to consider before signing up, as is the APR (annual percentage rate). If you plan to carry a balance, you might be better off choosing a card with a lower introductory rate.

Card basics

Annual Fee $39
Early Spend Bonus Earn unlimited 1.5% cash back on every purchase, every day
Recommended Credit Score Fair, Bad, Poor
Foreign Transaction Fee None

Top card benefits

  • Earn unlimited 1.5% cash back on every purchase: No rotating categories or spending caps — just a simple system that allows you to earn cash back on every purchase you make.
  • No minimum redemption: Rewards can be redeemed at any time, for any amount. They won’t expire and can be used directly as a statement credit on your account, which you can set up as a one-time transaction or on a recurring basis.
  • No foreign transaction fee: If you’re traveling abroad, you’ll want at least one reliable card with no foreign transaction fees, and this could be it.
  • Potential credit limit increase: After making five monthly payments on time, you can qualify for a credit line increase.
  • Travel accident insurance: Use your card to purchase your fare and you’ll automatically be eligible for insurance on covered losses.

Earning & redeeming

One of the best things about this card is that earning and redeeming is so easy. Points can be redeemed at any time, for any amount, in the form of a mailed check, statement credit, or gift card.

Best ways to earn

Since this card has a universal unlimited 1.5% cash back cash back on every purchase, there really isn’t one best method for earning points. But there might be some ways that are smarter than others. Purchasing airfare with your card not only earns you points but also guarantees travel accident insurance at no extra cost.

You’ll also get an extended warranty on eligible items purchased with your card, which excludes big-ticket items like boats and cars but covers many other items up to a $10,000 value. Keep in mind that you’ll need to submit your claim within 60 days of product failure to receive full consideration.

Maximizing your redemptions

Getting the most out of your redemptions with this card is easy. Apply your rewards as cash back, a statement credit, or even gift cards.

You’ll need to spend just $2,600 on the card to offset the $39 annual fee.

Common questions

Do I need a good credit score to qualify for the Capital One® QuicksilverOne® card?

This card only requires a fair credit score — in other words, a credit score around 580 and 670. Not sure if your score is good enough? Here’s an easy way to find out.

How do I redeem cash back with the Capital One® QuicksilverOne® card?

Cash back can be redeemed as a check, statement credit, or gift card. Your cashback rewards never expire, and you can redeem any amount you wish — there’s no minimum.

What is the credit limit for the Capital One QuicksilverOne card?

Your exact credit limit will depend on your creditworthiness and the info you provide on your application. The minimum credit limit you’ll receive is $300, though well-qualified applicants may receive limits of several thousand dollars.

Other cards to consider

If you have above-average credit, it’s probably worth looking into a credit card with more competitive perks. A few additional cards to consider if you have good-to-excellent credit — both with higher cashback rewards and no annual fee — are the Blue Cash Everyday Card from American Express and Chase Freedom Unlimited.

Easy cash back rewards

See how these cards compare:

Blue Cash Everyday Card from American Express
Blue Cash Everyday Card from American Express
  • $150 welcome bonus
  • No annual fee
  • 0% intro APR on purchases for 15 months
  • 3% cash back at U.S. supermarkets
  • Terms apply
Chase Freedom Unlimited
Chase Freedom Unlimited
  • $150 sign-up bonus
  • No annual fee
  • 0% intro APR on purchases
  • 5% cash back on Lyft rides
  • 1.5% cash back on all other purchases