Capital One QuicksilverOne Cash Rewards Credit Card Review [2024]: The Cashback Rewards Card for Everyone

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 to build credit while also reaping the benefits of a cashback card. 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, I believe even beginners can quickly master it.

However, if your credit score is above average, I would consider a card that offers more competitive rewards. And if you’re currently on a tight budget, you may want to consider the annual fee as well as the APR (annual percentage rate). If you will have to carry a balance, you might be better off choosing a card with a lower introductory rate.

Card basics

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. I personally really appreciate this simplicity, especially for consumers who are focusing on building credit.
• One added bonus category: When making travel plans, earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel. As someone who likes to travel, this perk appeals to me. It’s also somewhat unusual to find this type of travel-focused reward on a credit-building card.
• 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. I always appreciate redemption options, and this card allows you to redeem your rewards via statement credits, a mailed check, or even gift cards.
• 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. This is especially important when you are looking to build credit. I value the ability to monitor my credit score in real time, especially when I’m actively trying to improve it.
• 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 Credit Card, 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.
• Annual fee: This card has a small fee of $39, but it’s a fee nonetheless. This is likely easy to balance out with your cashback rewards, but it’s worth noting, especially if you’re on a tight budget.
• 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: $524

Year two earnings: $524

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 your everyday purchases on it. Just remember to pay it off regularly so that you keep building credit.

And don't forget that hotels and rental cars booked through Capital One Travel earn unlimited 5% cash back. If this was my main credit card, I would definitely prioritize using it for travel-related expenses.

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.

It’s worth noting that you will need to spend $2,600 on the card to offset the $39 annual fee.

FAQ

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.

Capital One Quicksilver Cash Rewards Credit Card

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 on every purchase, every day; and 5% cash back on hotels and rental cars booked through Capital One Travel (terms apply), with an annual fee of $0. It also offers a 0% intro APR on balance transfers for 15 months, then a 19.99% - 29.99% (Variable) APR. Balance transfer fee applies.

Citi Double Cash^® Card

The Citi Double Cash^® Card earns 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases; plus, for a limited time, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/24 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 19.24% - 29.24% (Variable) APR).

Easy cash back rewards

Capital One QuicksilverOne Cash Rewards Credit Card

4.3

FinanceBuzz writers and editors score cards based on a number of objective features as well as our expert editorial assessment. Our partners do not influence how we rate products.

Capital One QuicksilverOne Cash Rewards Credit Card

4.3

FinanceBuzz writers and editors score cards based on a number of objective features as well as our expert editorial assessment. Our partners do not influence how we rate products.

Why We Like It

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

See how these cards compare:

Capital One Quicksilver Cash Rewards Credit Card

• Has a $0 annual fee
• Has an easy-to-earn welcome offer
• Offers a simple rewards program and flexible redemption methods
• Comes with intro APR offers on purchases and balance transfers
• Doesn’t charge foreign transaction fees
• Rates and fees

Citi Double Cash® Card

• Simple flat-rate cash back on all your purchases
• 0% intro APR on balance transfers for 18 months, then 19.24% - 29.24% (Variable) APR
• No annual fee
• Rates and fees