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Verdict
If you have less than perfect credit, the Capital One® QuickSilverOne® 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's 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 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 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.
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.
