Review of the Capital One® Quicksilver® (Credit Score & Rewards)

Review of the Capital One® Quicksilver® (Credit Score & Rewards)

credit card advice

Adam West
By: Adam West
Posted: December 15, 2017
Opinions expressed here are ours alone, and are not provided, endorsed, or approved by any issuer. Site may be compensated through the issuer affiliate programs.

When Capital One was established in 1994, it was a monoline bank, with all of its revenue coming from its line of credit cards. While typically considered to be a risky business model, Capital One found success by offering products designed with specific consumers in mind.

For instance, Capital One was among the first major issuers to offer blackout-free travel rewards through its popular Capital One® Venture® Rewards card. The card issuer has also worked to simplify credit card rewards in other ways, namely through its Capital One® Quicksilver® Cash Rewards card, which provides a flat-rate earnings structure that makes earning rewards simple.

In another consumer-centric move, Capital One doesn’t limit rewards to its most qualified applicants, either. While the Quicksilver® card requires good to excellent credit, its sibling, the Capital One® QuicksilverOne® Cash Rewards card is available to a wide range of credit types.

Average Score | Rewards | Other Options

Average Cardholder Has A FICO Score Between 700-750

Whether we like it or not, the fact is the best credit products come to those who have the best credit scores, and the Capital One® Quicksilver® is no exception. The bulk of Quicksilver® cardholders reporting to Credit Karma have credit scores above 700, with a full 30% the card’s members having credit scores above 750.

EXPERT'S RATING

★★★★★
4.8

OVERALL RATING

4.8/5.0
  • One-time $150 cash bonus after you spend $500 on purchases within 3 months from account opening
  • 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 won't expire for the life of the account and there's no limit to how much you can earn
  • 0% intro APR on purchases for 9 months; 14.49%-24.49% variable APR after that
  • Balance transfers also have a 0% intro APR for 9 months; 14.49%-24.49% variable APR after that; a 3% fee applies to each balance transferred
  • Pay no annual fee or foreign transaction fees
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% for 9 months
0% for 9 months
14.49% - 24.49% (Variable)
$0
Excellent, Good

Given the data, it’s safe to say your chances of being approved for the Quicksilver® card are best if your credit score is firmly in the “Good” range. That’s not to say, of course, that you can’t qualify with a lower credit score. Around 40% of the reviewers had credit scores below 700, with as many as 7% of the cardholders having scores between 601 and 650, which is right in the “Fair” credit range.

Credit Karma Quicksilver® Credit Score Graph

As shown in the graph from Credit Karma, the average Quicksilver® cardholder has a credit score above 700.

That being said, even if your credit score is enough to get you approved, a lower credit score may not result in the best of credit limits. The average limit for a cardholder with a credit score below 650 was around $3,000, while those with scores above 650 averaged closer to $7,000, and the very best scores over $9,000.

If you’re worried your score won’t be enough to earn a Capital One® Quicksilver® Rewards card, you can check for pre-approval before officially applying. Pre-approval uses a soft credit inquiry to estimate your approval chances and won’t impact your credit.

For prospective cardholders who don’t qualify for the Quicksilver® card based on their credit scores, the Capital One® QuicksilverOne® may be a good option. The QuicksilverOne® provides the same unlimited rewards as the Quicksilver®, but accepts riskier applicants thanks to its higher APR and annual fee.

EXPERT'S RATING

★★★★★
4.5

OVERALL RATING

4.5/5.0
  • 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 won't expire for the life of the account 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
  • Use online banking to access your account, even from your smartphone, with our mobile app
  • Help strengthen your credit for the future with responsible card use
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
24.99% (Variable)
$39
Average, Fair, Limited

In fact, Credit Karma reviewers of the QuicksilverOne® card report being approved with credit scores in the mid-500s, which puts them well into the “Poor” credit range. While these users also report being given very low limits — typically around $300 — they also mention receiving regular credit limit increases with responsible card use.

Furthermore, several QuicksilverOne® cardholders have reported being able to upgrade their QuicksilverOne® card to an annual-fee-free Quicksilver® card. Those most likely to qualify for an upgrade have improved their credit scores and maintained their QuicksilverOne® accounts in good standing for at least five months.

Cardholders Enjoy Unlimited Cash Back Rewards

In the modern credit card market, a well-qualified candidate can choose from dozens upon dozens of rewards credit cards, each with its own bells and whistles. But few are as simple and straightforward as the rewards offered by the Capital One® Quicksilver® Rewards and QuicksilverOne® Rewards cards.

Rather than making you remember special bonus categories or requiring you to activate — and track — rotating rewards, the Quicksilver® and QuicksilverOne® cards provide simple, flat-rate 1.5% cash back rewards on every purchase. Even better, those rewards are completely unlimited, with no quarterly or annual spending caps to cut your earnings short.

To really make the most of your rewards, you can also take advantage of the Quicksilver® card’s signup bonus, which offers a lump sum of cash back rewards. To become eligible for the signup bonus, simple meet the easily-attainable minimum spending requirement within your first 90 days. Unfortunately, while the QuicksilverOne® offers the same cash back on new purchases, it doesn’t offer a signup bonus.

Alternative Card Options for Lower Credit Scores

For some consumers, poor credit scores and a rocky credit history may disqualify them from both the Quicksilver® and QuicksilverOne® cards. This can be particularly true if you have a string of negative items — or one big bankruptcy discharge — recently added to your credit reports.

In this case, your best bet may be to apply for an unsecured subprime credit card or a secured credit card. Both types of cards are designed for applicants who need to rebuild their credit scores and provide flexible credit requirements. Start your search with our expert-rated card picks below.

Fingerhut Credit Account Review

at Fingerhut'ssecure website

BAD CREDIT RATING

★★★★★
4.7

OVERALL RATING

4.0/5.0
  • Fingerhut offers more than 500,000 items including the brand names you want like Samsung, KitchenAid, and DeWalt
  • Fast, easy online application process and a quick decision
  • Take advantage of low monthly payments if you apply and are accepted for a Fingerhut Credit Account issued by WebBank, who determines eligibility and qualifications for the terms of credit
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
See Issuer Website
$0
Poor Credit

BAD CREDIT RATING

★★★★★
4.7

OVERALL RATING

4.0/5.0
  • No annual fee, and all the credit building benefits with responsible card use
  • Unlike a prepaid card, it builds credit when used responsibly, with regular reporting to the 3 major credit bureaus
  • You will get an initial $200 credit line after making a security deposit of $49, $99, or $200, determined based on your creditworthiness
  • Get access to a higher credit line after making your first 5 monthly payments on time with no additional deposit needed
  • Easily manage your account 24/7 with online access, by phone or using our mobile app
  • It's a credit card accepted at millions of locations worldwide
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
24.99% (Variable)
$0
Limited, Bad
Credit One Bank® Visa® with Free Credit Score Tracking Review

at Credit One'ssecure website

BAD CREDIT RATING

★★★★★
4.5

OVERALL RATING

4.0/5.0
  • See if you Pre-Qualify in less than 60 seconds—without affecting your credit score. It's fast, easy, and secure.
  • Get 1% cash back rewards on eligible purchases including gas, groceries, and services such as mobile phone, internet, cable and satellite TV. Terms apply.
  • This is a fully functional, unsecured credit card—not a debit card, prepaid card, or secured credit card with deposit requirements.
  • Credit One Bank automatically monitors every account for credit line increase opportunities each month. We'll notify you as soon as you're eligible for a higher credit line. A fee may apply.
  • Take advantage of free online access to your Experian credit score and credit report summary so you can track the key factors impacting your credit health. Terms apply.
  • Zero Fraud Liability protects you if your card is ever lost or stolen. Rest easy knowing you won't be held responsible for unauthorized charges.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
19.15% - 25.24% Variable
$0 - $99
Bad Credit

+See More Cards for Bad Credit

When comparing cards for rebuilding your credit, the main choice you’ll need to make is whether you want a secured credit card or an unsecured credit card. Secured credit cards will require an initial deposit to open your account, while unsecured credit cards don’t require a deposit but typically have higher rates and fees.

Although many consumers prefer unsecured credit cards due to the lack of a deposit, secured credit cards may provide the opportunity to obtain a higher credit limit, as the size of your credit limit is dictated by the amount you deposit (up to the maximum allowed by the specific card). Plus, unlike unsecured card fees, your secured card’s deposit will be returned to you when you close the account, provided the account is in good standing.

Cash In with the Capital One® Quicksilver®

For a relatively young company, Capital One has certainly made its mark on the consumer credit world, earning its spot as one of the top 10 credit card issuers in the world. Part of how the bank has achieved its credit card success is by offering credit cards designed with the consumer in mind, providing things like blackout-free travel and unlimited cash back that truly appeal to potential cardholders.

While Capital One’s card selection can be tempting, remember that you can only have two Capital One credit cards at any given time. So, if you think you’ll want to grab up multiple Capital One cards, you’ll want to do your research ahead of time to ensure you get the best cards for your purchasing needs.

Pairing unlimited rewards with no annual fee, the Capital One® Quicksilver® Cash Rewards card offers a solid place to start your Capital One collection. If your credit score isn’t quite ready for the Quicksilver® card, the Capital One® QuicksilverOne® Cash Rewards card offers the same great unlimited cash back rewards while providing responsible card users with a good way to build credit.