Capital One QuicksilverOne Cash Rewards Credit Card Review [2022]: The Cashback Rewards Card for Everyone

You won’t need a perfect credit score to get in on these easy cashback deals.
Last updated Aug. 12, 2022 | 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; plus 5% unlimited cash back on hotels and rental cars booked through Capital One Travel, 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

Intro Offer

Unlimited access to CreditWise: a free monitoring tool that won't damage your score

Annual Fee

$39

Rewards Rate

unlimited 1.5% cash back on every purchase; plus 5% unlimited cash back on hotels and rental cars booked through Capital One Travel

Benefits and Drawbacks

Benefits

  • 1.5% unlimited cash back on every purchase, every day
  • Plus earn unlimited 5% unlimited cash back on hotels and rental cars booked through Capital One Travel
  • Consideration for a higher credit line as quickly as 6 months after account opening
  • CreditWise to monitor your credit score

Drawbacks

  • No early spend bonus
Card Details
  • Unlimited access to CreditWise: a free monitoring tool that won't damage your score
  • unlimited 1.5% cash back on every purchase; plus 5% unlimited cash back on hotels and rental cars booked through Capital One Travel

In this Capital One QuicksilverOne Cash Rewards Credit Card review

Who should get the Capital One QuicksilverOne Cash Rewards Credit Card?

The Capital One QuicksilverOne Cash Rewards card is a great card for people with fair credit scores looking for a cashback card. Using a credit card responsibly could even help you build credit. One of the things this card does best is reward users with automatic consideration for a higher credit line as quickly as six months after account opening.

It also allows people with average credit or limited credit profiles to earn pretty good cash rewards, all while charging a comparatively low annual fee of $39. With a straightforward rewards program of unlimited 1.5% cash back on every purchase; plus 5% unlimited cash back on hotels and rental cars booked through Capital One Travel 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

Card type Cash Back
Credit card issuer Capital One
Credit card network Mastercard
Annual fee $39
Reward rate Unlimited 1.5% cash back on every purchase; plus 5% unlimited cash back on hotels and rental cars booked through Capital One Travel
Recommended credit score Fair
Foreign transaction fee None

Capital One QuicksilverOne Cash Rewards card benefits and perks

  • Earn 1.5% unlimited cash back on every purchase, every day: No rotating categories or spending caps — just a simple system that allows you to earn an unlimited cash back rate on every purchase you make.
  • One added bonus category: When making travel plans, earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel.
  • 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 line increase: Cardholders will receive automatic consideration for a higher credit line as soon as six months after opening this account. According to Capital One, you can increase your likelihood of a credit limit increase if you make on-time payments and make larger monthly payments to lower your balance.
  • Access to your credit score: Get unlimited access to your credit score and other credit tools with CreditWise from Capital One. You can even access it via mobile app.
  • Capital One Entertainment: Receive special access to music, sporting, and dining events through the Capital One Entertainment portal. You have the option to use your rewards, your card, or a combination of the two to pay for tickets.

Drawbacks to this card

  • No early spend bonus: Unlike the Capital One Quicksilver Cash Rewards, the QuicksilverOne Cash Rewards does not have any sort of welcome bonus. However, the Quicksilver also requires good to excellent credit, which is more than the QuicksilverOne requires.
  • Has annual fee: This card has a small fee, but a fee of $39 nonetheless. This is likely easy to balance out with your cashback rewards.
  • No promo APR: This card does not have any promotional interest rate on either purchases or balance transfers. That means your balance will be subject to the regular variable APR. You can still transfer balances, but you will pay a balance transfer fee as well as a potentially high APR.

Earning & redeeming cash back

Potential earnings in years one and two

Here's a look how your cash back can add up with the Capital One QuicksilverOne Cash Rewards Credit Card.

Remember, this is an estimation. The actual value will be determined by how much you spend and in which categories you spend.

Year one earnings: $464

Year two earnings: $464

These values are based on the FinanceBuzz Credit Card Rewards Valuation Model which takes a look at points earned via spending, the early spend bonus, and the annual fee.

Best ways to earn

Since this card earns at least 1.5% on every purchase, it pays to put all your everyday purchases on it. 

And don't forget that hotels and rental cars booked through Capital One Travel earn unlimited 5% cash back.

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.

Capital One QuicksilverOne Cash Rewards FAQs

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

This card only requires a fair credit score — in other words, a credit score around 580 and 670. That means you don't have to have the most amazing credit history to have a shot at getting this card.

How do I redeem cash back with the Capital One QuicksilverOne Cash Rewards 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 Cash Rewards 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

You might have decided by now that the Capital One QuicksilverOne Cash Rewards Credit Card is the perfect rewards credit card for you. But if you still have doubts, there are other great credit cards to consider.

If you have above-average credit, it’s probably worth looking into a credit card offer with more competitive perks. The Capital One Quicksilver Cash Rewards Credit Card also offers 1.5% cash back rewards on every purchase, every day; plus unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, with an annual fee of $0. It also offers a 0% intro APR on balance transfers for 15 months, then a 16.49% to 26.49% variable APR. There is a 3% fee on balances transferred within the first 15 months.

The Citi® Double Cash Card - 18 month BT offer earns up to 2% cash back on all purchases: 1% as you buy and 1% as you pay for those purchases and has a $0 annual fee. Because of that it's considered one of the best credit cards for cashback rewards. It also offers an intro balance transfer APR of 0% for 18 months (then 16.24% to 26.24% (variable) APR).

Easy cash back rewards

See how these cards compare:

Capital One Quicksilver Cash Rewards Credit Card
Capital One Quicksilver Cash Rewards Credit Card
  • $200 early spend bonus
  • No annual fee
  • 0% intro APR for 15 months on purchases and balance transfers, then 16.49% to 26.49% variable APR; 3% fee on balances transferred within the first 15 months
  • 1.5% cash back on every purchase, every day
Citi® Double Cash Card - 18 month BT offer
Citi® Double Cash Card - 18 month BT offer
  • Earn $200 cash back after spending $1,500 in the first 6 months (limited time offer)
  • 0% intro APR on balance transfers for 18 months, then 16.24% to 26.24% (variable) APR
  • Up to 2% cash back on all purchases: 1% as you buy and 1% as you pay for those purchases
  • No annual fee

Author Details

Larissa Runkle Larissa writes for FinanceBuzz and divides her time between a cabin in the San Juan Mountains and traveling in a van. She enjoys writing about travel, debt relief, personal loans, and mortgages. Her work has been featured on MagnifyMoney, LendingTree, and Realtor.com. Outside of finance and real estate writing, she’s also at work on several fiction projects. When away from the computer, you’ll find her reading, exploring local trails, and climbing rocks.