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The Capital One QuicksilverOne Cash Rewards Credit Card is designed for people with fair or average credit, and it’s one of the better cards you’ll find for this level of credit.
You’ll earn a relatively large amount of cash back for every purchase you make, which is even on-par with cards designed for people with better credit (though you’ll have to pay a small annual fee for this card).
You’ll also get a 0% intro APR for 9 months, access to a higher credit line after making your first 5 monthly payments on time, and a variety of benefits and protections. All in all, it’s a very good offer when it comes to cards for fair credit, and it made our list of the Best Credit Cards for Fair Credit – 2016.
Keep reading to learn more about the card, and find out if it’s the right one to help you build your credit while earning some cash back in the process.
For People with
- Annual Fee: $39
- Interest Rate: 13.99%, 18.99%, or 23.99% Variable
Quick Card Facts
- 1.5% cash back on every purchase, every day
- 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
- 1.5% cash back on every purchase
You can redeem your cash back whenever you want and for any amount. It won’t expire as long as your account remains open and in good standing.
Many credit cards require you to reach a certain amount before you can redeem it, and then you may only be able to do so in certain denominations. So being able to redeem any amount whenever you want is pretty convenient.
1.5% cash back may not seem like much, but remember that this card is designed for fair credit, so its main purpose is to help you improve your credit score. The cash back is more like a nice extra feature to find on a card like this, especially compared to most secured cards which don’t offer any rewards.
You’ll get a very nice set of extra benefits compared to other cards designed for a similar credit range. Especially useful are the credit tracking and education tools you can access, which will help you fine-tune your efforts to build or rebuild your credit.
Pick a monthly due date.
24/7 Customer Service
Customer service representatives are available at all hours of the day.
Get alerts about account information on your phone.
Mobile & Tablet Apps
Manage your account from your phone or tablet.
Financial Tools & Tips
Educate yourself on credit with Capital One resources.
Capital One Wallet℠
Provides charge notifications, account balances, available credit, and rewards earnings.
Capital One Credit Wise
Free access to your credit score.
Capital One Second Look℠
Capital One monitors your account for unusual and duplicate charges.
You will not be held responsible for unauthorized use of your card.
If you find an item you purchased within 60 days at a lower price price, you can be reimbursed the difference.
Extended Warranty Protection
Extends a manufacturer’s warranty at no charge.
MasterCard Global Service®
Provides help with travel emergencies, including emergency card replacement or cash advances.
Travel Accident Insurance
Covers you and your family in the case of physical accidents.
24/7 Roadside Assistance Hotline
Assistance with services such as towing, changing a flat, or boosting a battery in case of emergency.
Auto Rental Collision Damage Waiver
Provides coverage against theft and collision, as long as the car rental company’s own insurance is declined.
The Costs & Fees
|Annual Fee||Regular APR for Purchases and Balance Transfers||Cash Advance APR||Foreign Transaction Fee|
|$39||13.99%, 18.99%, or 23.99% Variable||23.99% Variable||See Terms|
|Penalty APR||Late Fee||Returned Payment Fee|
|See Terms||Up to $35||See Terms|
You’ll need to pay an annual fee to use this card, but when it comes to building credit this is a pretty small price to pay. And when you factor in the cash back you’ll earn, it gets even smaller – once you spend $2,600 with the card, you’ll already have paid for the annual fee and anything more will be all profit.
You’ll get 9 months of 0% interest on purchases and balance transfers, which is a pretty rare find on cards for fair credit. Your interest rate after that will be on the high side, but that’s to be expected for cards like this. Also, you can avoid interest entirely if you commit to paying off your credit cards in full every month.
The Bottom Line: 5 Out Of 5 Stars
The Capital One QuicksilverOne Cash Rewards Credit Card is designed for fair credit, and with that in mind it’s a very good offer.
The costs and fees might seem a bit high, but remember that you’re paying for the privilege of building up your credit. You can also avoid that interest by paying your bill in full every month, so it doesn’t need to be a problem if you commit to using your card responsibly.
The 1.5% cash back will also help you pay for the annual fee every year, and you’ll probably have quite a bit left over too. 1.5% is pretty high for a card like this, and is even competitive with cards designed for people with better credit.
We gave this card 5 out of 5 Stars because even though this card is designed for fair credit, it provides a relatively high amount of cash back for every purchase, along with a variety of extra benefits and favorable terms. Most credit cards for less-than-good credit don’t have such great features, especially the intro APR. You’ll also be guaranteed an increase in your credit line after making your first 5 monthly payments on time, and access to credit monitoring tools. These are both very helpful if you’re building or rebuilding your credit, and they help make this card one of the best for that purpose.
Do you use this card? How do you like it? Click here to leave your own review of the Capital One QuicksilverOne Cash Rewards Credit Card, we’d love to hear from you!