QuickSilverOne MasterCard from Capital One Review

By Christine Layton / October 1, 2016
Capital One QuickSilverOne MasterCard Cash Back Card Review

QuicksilverOne® Rewards Card Overview

Capital One QuickSilverOne MasterCard Cash Back Card Review

CreditShout Rating

Annual Fee: $39

Credit Required: Average, Fair, or Limited

Rewards Program and Signup Bonuses*:

  • Earn unlimited 1.5% cash back on every purchase, every day.
  • No rotating categories or sign ups needed to earn cash rewards; plus, cash back doesn't expire and there's no limit to how much you can earn.
  • Get access to a higher credit line after making your first 5 monthly payments on time.
  • Fraud coverage if your card is ever lost or stolen.
  • Help strengthen your credit for the future with responsible card use.
  • Enjoy unlimited access to your credit score and tools to help you monitor your credit profile with CreditWise®.

Intro APR

N/A

Intro Balance Transfer

N/A

Regular APR

24.99% Variable on Purchases and Transfers

Verdict

If you have less than perfect credit, the Capital One® QuickSilverOne® MasterCard allows you to take advantage of the same perks, benefits, and purchasing power granted to those with an excellent perfect credit history. If you are building or rebuilding your credit profile, we think you should consider the QuickSilverOne cash back rewards card for your wallet.

The only distinctions between the QuickSilverOne card and the QuickSilver cash rewards card are:

  • QuickSilverOne comes with a $39 annual fee
  • QuicksilverOne is available to those with average or limited credit.

In our opinion, a $39 annual fee for a rewards credit card as generous as the QuickSilverOne card for consumers with average credit is a great deal. 

If you have good or excellent credit, you will want to check out the CapitalOne QuickSilver or Discover it cash back rewards cards.

QuickSilverOne Rewards Program and Benefits

The QuickSilverOne cash back rewards program is quite simple:

  • Earn 1.5% Cash Back on all spending.
  • Rewards are not capped.
  • Rewards never expire.
  • There are no minimum thresholds required for redemption.
  • You can redeem your rewards at any time.

Unlike many rewards cards available today, there are no rotating bonus categories that require opting in every few months to get higher rewards. 

CapitalOne also offers these great benefits:

  • Access to the Credit Steps program - you can earn a higher credit line after making your first 5 payments on time.
  • Introductory 0% APR offer on new purchases and balance transfers (and no transfer fee will apply to transfers made in the first 60 days)
  • Access to your credit score every month
  • Ability to choose your own monthly due date
  • Extended warranty protection
  • Car rental insurance
  • Travel accident insurance
  • Price protection, which reimburses you the difference in price on eligible items should you find a lower price for the same item within 60 days from the date of purchase
  • 24/7 Roadside assistance
  • 24/7 Travel assistance

Looking to Apply for a Credit Steps Card from Capital One®?

Follow the Link Below to Compare Eligible Cards and Apply on  CreditSoup®.

Fees and Interest Rates

The fees, charges and interest rates associates with the QuickSilverOne MasterCard from CapitalOne are:

Charges and Fees

APR for Purchases

Your APR will be 24.99%. This APR will vary with the market based on the Prime Rate plus 19.65%.

APR for Balance Transfers

Your APR will be 24.99%. This APR will vary with the market based on the Prime Rate plus 19.65%.

APR for Cash Advances

24.99%. This APR will vary with the market based on the Prime Rate plus 19.65%.

Penalty APR

Not applicable.

Annual Fee

$39

Balance Transfer Fee

None

Cash Advance Fee

Greater of $10 or 3% of the amount of each cash advance

Late Payment Fee

Up to $35.

Returned Payment

Not disclosed.

What Credit Score Do I Need to Qualify?

CapitalOne describes the QuickSilverOne rewards card as being for consumers with average credit scores.

They describe an average credit score to mean you may have had a few bumps in the road to building, or rebuilding your credit history. You have an average score if you are someone who has defaulted on a loan, credit card, or other obligation in the past 5 years and/or someone with a short credit history. There is nothing wrong with average, and a QuickSilver One card can help you continue building a strong, positive, credit history.

We think it is fair to say that this QuickSilverOne is for consumer with limited, fair, or average credit who are looking to build or rebuild their credit scores.

For more information on understanding your credit score, and how to find it out, please review this article.

Conclusion

The Capital One QuickSilverOne MasterCard is a top cash back rewards card for consumers looking to build or rebuild their credit.  And it is one the best credit cards - period - if you have limited, fair, or average credit.

best cash back rewards credit card if building or rebuilding your credit

A Cash Back Card for Everyone

With its combination of a low annual fee, generous and easy rewards program, and 0% introductory APR, we can recommend highly recommend the QuickSilverOne credit card.

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