Capital One QuicksilverOne Cash Rewards Review: Build Credit While Earning Cash Back

If you have a fair or good credit score, you can qualify for the Capital One QuicksilverOne Cash Rewards card. It offers 1.5% cash back on all purchases — a rate equal to the card’s upgraded version, the Capital One Quicksilver, which requires excellent credit. However, the QuicksilverOne card carries an annual fee and lacks additional features. Still, it’s a great card for building credit, and spending at least $2,600 per year can offset its annual fee.

The Capital One QuicksilverOne Cash Rewards Credit Card stands out for those with fair to good credit looking to earn cash back on their everyday spending. It offers an unlimited 1.5% cash back on every purchase, a rate that's typically for cards catering to people with excellent credit.

Despite an annual fee of $39, savvy spenders can offset this cost by using the card for at least $2,600 worth of purchases annually. Note that the card does not have a welcome bonus or an introductory 0% APR period. However, its straightforward cash back program makes it an attractive option if you want to earn cash back while building your credit.

>> MORE: MoneyGeek's Best Credit Cards for Fair Credit

The Capital One QuicksilverOne Cash Rewards card features a simple rewards program. You earn an unlimited 1.5% cash back on every purchase, with no spending categories or limits to worry about. This flat-rate system works for those who value ease and consistency in earning rewards.

The cash back you earn never expires as long as your account is active, and you can redeem it as a statement credit or check.

The Capital One QuicksilverOne card is a straightforward cash back earner. Here's why it might be the right choice for you:

Accessible: You can qualify for this card with fair to good credit, making it an accessible option if you’re building or repairing your credit.

Unlimited Cash Back: Every swipe with the Capital One QuicksilverOne earns you 1.5% cash back. That rate is similar to the card’s upgraded version, the Capital One Quicksilver Cash Rewards Credit Card card, which requires excellent credit. It’s rare for users with fair credit to find a card that offers 1.5% cash back.

Credit Building Potential: Using this card responsibly can help you build credit, as it reports to the three major credit bureaus. Over time, you’ll be able to access cards with higher rewards and no annual fee.

Here's what to keep in mind before you decide on the QuicksilverOne Cash Rewards:

Annual Fee: Unlike other cards for average credit, the QuicksilverOne Cash Rewards carries a $39 annual fee. If you’re looking for a card that accepts fair to good credit and has no annual fee, the Capital One Platinum Credit Card can be an alternative.

No 0% Intro APR Offer: This card does not provide an introductory 0% APR period for purchases or balance transfers, like other cash back cards for fair credit scores. However, if you’re a student, you may qualify for the Discover it® Student Cash Back card, which has a six-month no-interest period.

To help you find the best cards for your needs, we’ve compared the Capital One QuicksilverOne Cash Rewards card with similar cash back cards.

Capital One QuicksilverOne Cash Rewards vs. Capital One Quicksilver Cash Rewards

The Quicksilver Cash Rewards card is the upgraded version of the QuicksilverOne. It has the same 1.5% cash back on all purchases but no annual fee and comes with a $200 welcome bonus after you spend $500 on purchases within 3 months. However, you’ll need excellent credit to qualify for the Quicksilver Cash Rewards.

Capital One QuicksilverOne Cash Rewards vs. Capital One Platinum

If you have fair credit and want a no-fuss credit card, the Capital One Platinum card is an alternative. It doesn’t charge an annual fee or a security deposit, making it a low-cost option as you build credit to access better cards. However, unlike QuicksilverOne, it does not offer a cash back system.

Capital One QuicksilverOne Cash Rewards vs. Citi® Double Cash

The Citi® Double Cash card offers 2% cash back on all purchases, 0% APR period on balance transfers for 18 months, then a variable APR of 19.24% - 29.24% after that and no annual fee. It accepts users with good credit, making it a solid alternative to the QuicksilverOne. However, if you have fair credit, the QuicksilverOne is the more accessible option.

The Capital One QuicksilverOne Cash Rewards credit card is a solid choice for people building credit who also want to earn cash back on their purchases. Its 1.5% cash back rate punches above its weight and allows you to offset the $39 annual fee by spending at least $2,600 with the card. By using this card responsibly, you’ll improve your credit over time and access cards with better features.

In evaluating the Capital One QuicksilverOne Cash Rewards Credit Card, MoneyGeek considered a range of factors to determine its Cash Back Score. A total of 60 cards were reviewed, including this one. The evaluation process weighted various aspects of the card, with a focus on how rewarding the card's cash back program is. Here's a breakdown of the weights applied:

• Rating Effective Reward Rate (50%): A measure of the cash back earning potential.
• Rating Annual Fee (10%): The cost of owning the card annually.
• Rating Offer ROI (10%): The potential savings from introductory offers and bonuses.
• Rating Issuer Satisfaction (5%): Card issuer's customer satisfaction level.
• Rating Penalties (5%): The severity of penalty fees and rates.
• Rating Recommended Credit (5%): The card's accessibility based on credit scores.
• Rating Intro Purchase (5%): The value of the introductory 0% APR period on purchases.
• Rating Regular APR (5%): The long-term cost of borrowing on the card.
• Rating Foreign Transaction (5%): Fees associated with international transactions.