Capital One, founded in 1994, is the fourth-largest credit card issuer in the US. The company has more than 30 credit cards available, including four in its popular Quicksilver line.
The QuicksilverOne card is aimed at individuals with fair credit. It offers the same unlimited 1.5% cash back as other Quicksilver cards but doesn’t come with a welcome bonus or 0% intro APR. It also has a $39 annual fee.
The QuicksilverOne card is a good option for individuals with fair credit who don’t want a secured card.
With the QuicksilverOne, you don’t have to prepay for purchases or deposit funds in an escrow account. You can use it just like any other credit card. You can also use it to build back your credit over time by paying your statement on time each month.
The QuicksilverOne has an annual fee of $39 but offers unlimited 1.5% cash back on every purchase. So the annual fee pays for itself once you spend $2,600 per year. If you spend more than this on the card, it’s worth opting for the QuicksilveOne over alternative cards with no annual fee and no cash back rewards.
You can get even more out of the QuicksilverOne if you travel frequently. If offers 5% cash back on hotels and rental cars booked through Capital One Travel. It also doesn’t have a foreign transaction fee. There are relatively few comparable travel rewards cards for individuals with fair credit.
If you have a credit score in the high 600s, you may want to apply for Capital One’s Quicksilver Rewards for Good Credit card. This card has the same rewards as the QuicksilverOne, but no annual fee.
The QuicksilverOne carries an interest rate of 30.49% (variable) and an annual fee of $39. There is no fee for balance transfers and no foreign transaction fee. The late payment fee is $40.
Balance Transfer Fee
Foreign Transaction Fee
The QuicksilverOne offers unlimited 1.5% cash back on every purchase. Hotel and rental car purchases through the Capital One Travel portal qualify for 5% cash back. There are no rotating bonus categories.
You can receive cash back as a check or a statement credit, or redeem it for gift cards. Your cash back doesn’t expire as long as your account is open.
The card doesn’t come with a welcome bonus offer or a reduced introductory APR.
You can apply for the QuicksilverOne online or at a Capital One bank branch.
Online, you have the option to check whether you’re pre-approved prior to applying. You must provide your name, address, email, phone number, Social Security number, employment status, and annual income. Capital One will run a soft credit check, which doesn’t impact your credit score, then show you cards for which you’re pre-approved.
If you’re pre-approved for the QuicksilverOne, you can proceed to the application. Your information will be auto-filled from your pre-application to speed up the process. Capital One will run a hard credit check, which can impact your credit score, and issue an approval decision instantly.
Capital One will mail your QuicksilverOne card to you. It typically arrives in 7-10 days.
Capital One offers 24/7 customer support by phone. There’s a dedicated phone number for credit card inquiries and another for reporting fraud. The company also has a virtual assistant called Eno that you can communicate with over live chat at any time.
Capital One’s website has a detailed online help center. It’s fully searchable, and there are guides for activating your card, making payments, and reporting fraud.
Phone hours: 24/7
Capital One uses SSL encryption and biometric authentication to protect your account. You can also enable two-factor authentication and set up custom transaction alerts to be notified about new charges on your card.
Capital One makes it easy to create virtual, one-time-use card numbers for safe online shopping. You can also freeze and unfreeze your card from your online account or the Capital One mobile app.
You’re never liable for fraudulent charges made on your card. A dedicated fraud reporting center is available 24/7.
Can I switch from the QuicksilverOne to the Quicksilver Rewards card?
The Quicksilver Rewards card offers the same 1.5% cash back rewards as the Quicksilver One card but with no annual fee. You can switch cards, but you will need to apply for the Quicksilver Rewards card, which has a stricter credit score requirement.
How do I redeem cash back from the QuicksilverOne card?
You can redeem cash back you’ve earned from the QuicksilverOne card through your Capital One account. Cash back never expires as long as your account is open. You can receive cash back rewards as a check, statement credit, or gift card.
The Capital One QuicksilverOne card offers unlimited 1.5% cash back on every purchase. It carries an annual fee of $39, but you can qualify for the card even if you have fair credit. It’s one of the most generous cash back rewards cards currently available for individuals with fair credit. The card is also suitable for travelers thanks to its 5% cash back rate for hotels and rental cars and $0 foreign transaction fee.
This review is based on information on the Capital One website and my experience as a Quicksilver Rewards customer.