QuicksilverOne from Capital One Credit Card Review
January 6, 2020
Get rewarded with the QuicksilverOne from Capital One
If you’re looking to build credit or want to give your credit a boost, the QuicksilverOne from Capital One credit card can help you do so. This credit card is available to those with fair to average credit, making it a solid starter credit card or one to help you increase your credit score.
You get 1.5% cash back on all purchases, with no annual fee. Cash rewards never expire for the life of the credit card account. You can get paid or apply the cash rewards in a variety of ways. Since the credit line can increase after just five on-time payments, it’s a card that can power up your credit quickly while providing you with some cash rewards.
What to expect from the Capital One QuicksilverOne
- APR: Purchase rate 26.99% variable APR.
- Annual Fee: $39
- Reward Rates: Unlimited 1.5% cash back on every purchase.
- Intro Offer: None
- The Capital One QuicksilverOne credit card has no foreign transaction fees and no balance transfer fee.
- You can add an authorized user to your account to increase your cash back reward possibilities. Track spending by user.
- Get 24-hour travel assistance services. If your card is stolen or lost, get an emergency replacement card and a cash advance.
- Get automatic travel accident insurance for a covered loss at no extra charge when you’ve purchased the entire fare with your credit card.
- Get roadside assistance services and collision/theft damage for renting eligible vehicles.
- Get extended warranty protection at no charge on eligible items purchased with your credit card.
- Get premier access to special events like culinary experiences, sports events and music events offered only to Capital One cardholders.
- Credit line: You have the potential to access a higher credit line after making first five monthly payments on time.
- Security: The Capital One QuicksilverOne credit card features $0 fraud liability. If your card is stolen or lost, you won’t be responsible for unauthorized charges. Get proactive account alerts if Capital One detects an unexpected charge or potential mistake. You can also shop online with virtual card numbers for more security for your Capital One QuicksilverOne card. Lock your card instantly from your smartphone if it has been lost, misplaced or stolen.
- Mobile: The Capital One virtual assistant Eno provides instant answers to questions about your account. A 24/7 mobile app lets you manage your account, pay bills, view your balance and see transactions.
But keep your eyes open for pitfalls
There’s no introductory APR rate or sign-up bonus for the Capital One QuicksilverOne credit card, and it also comes with a high interest rate, which can be detrimental for big spenders.
Comparably, the ABOC Platinum Rewards Mastercard has a 0% intro APR for 12 months from the opening of the account, then increases to as low as 14.65% depending on creditworthiness. The ABOC Platinum Rewards Mastercard also has no annual fee.
The annual fee for the Capital One QuicksilverOne credit card, while low, can also be a negative for some cardholders. An alternative for those with fair to average credit is the Platinum Credit Card from Capital One, which has a $0 annual fee and potential access to a higher credit line after on-time monthly payments for the first five months. The Platinum Credit Card from Capital One, however, offers no cash back bonuses.
For students looking to build their credit and get cash rewards with a starter credit card, the Discover it Chrome for Students credit card offers 2% cash back at gas stations and restaurants (up to a limit) and 1% cash back on all other purchases. Plus, the card has perks like a Good Grade Reward, a cash back match for the first year, no annual fee and 0% intro APR for six months.
Capital One QuicksilverOne credit card customers have also complained about non-guaranteed or slow credit line increases. A potential credit line increase is a major advantage to this card, but when credit lines don’t increase as much or as often as you’d like them to, that can make the annual fee for this card more of a pain.
How to maximize your Capital One QuicksilverOne rewards
First thing’s first: make on-time payments, especially for your first five payments so you can potentially increase your line of credit. The access to a higher credit limit can help you boost your credit score if your credit utilization improves because you’re not using as much credit as you have access to. As you make on-time payments, get a higher credit limit and decrease your overall use, you can improve your credit profile.
If you want to offset what you’ll pay for the annual fee, you’ll also want to make sure you’re using this card for at least around $2,600 worth of purchases a year. As long as you’re spending enough and making payments on time, you’ll get cash back rewards and may be able to build up your credit score in the meantime.
The Capital One QuicksilverOne credit card can help people who want to build credit while making on-time payments. You can apply cash back to directly cover recent purchases, spend rewards on gift cards or get a cash payment. There are no restrictions on what cash back amount to redeem or how.
If you have higher-than-average credit, you’ll want to look into other credit card options with higher cash back rewards, lower interest rates and lower annual fees. The Discover it Cash Back credit card has no annual fee, 5% cash back on rotating categories and as low as a 13.49% variable APR, for those with good to excellent credit. The Capital One Quicksilver Cash Rewards Credit Card has a 1.5% unlimited cash back reward rate with no annual fee and as low as a 15.74% variable APR, also for those with good to excellent credit.