These offers are no longer available on our site: Capital One® VentureOne® Rewards Credit Card, Chase Freedom Flex℠
Updated July 28, 2022
This date may not reflect recent changes in individual terms.
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Written by: Kim Porter
- Potential to qualify with some credit issues
- Unlimited 1.5% cash back on all purchases
- Pathway to a higher credit line after six months
- Annual fee, though it’s modest at $39
- No sign-up bonus
- High variable APR on purchases and balance transfers
Capital One QuicksilverOne Cash Rewards Credit Card: An excellent find for people with ‘fair’ credit
This card is aimed at people with “fair” credit, as the card issuer describes it — yet the Capital One QuicksilverOne Cash Rewards Credit Card offers a decent cash back rate, making it worth considering if you want to get rewarded while building your credit.
If you have less-than-stellar credit, it can be tough qualifying for a cash rewards credit card that delivers solid benefits. But you can be considered for the Capital One QuicksilverOne Cash Rewards Credit Card even if you have less than three years’ worth of credit history or you’ve had a loan default in the previous five years.
That’s just a basic guideline for how this card issuer defines fair credit — other factors in your credit profile may also be considered when you apply and could impact your approval.
Capital One QuicksilverOne Cash Rewards Credit Card cardholders earn unlimited 1.5% cash back on every purchase. And Capital One makes it easy when it comes to redeeming rewards. You can request a check or statement credit, apply rewards directly to purchases you’ve already made on the account or trade them for gift cards. You can redeem any amount at any time during the life of the account — and you can even set up an auto-redemption that kicks in whenever your rewards reach a certain threshold.
Access to a higher credit limit
Cardholders have the potential to get a higher credit line after six months with the card. This can help boost your credit scores in two ways. Your credit scores are based largely on your payment history and the amount of credit you have available compared to the amount of debt you owe, called credit utilization. So as you make on-time payments and decrease your overall credit use, your credit profile could improve.
The card comes with a $39 annual fee, which is modest compared to some other credit cards but an added cost nonetheless.
That cost might not look so bad when you break down how you can make up for it. You’d have to spend at least $2,600 a year in purchases with the card to earn $39 back in rewards. That’s equal to spending around $50 a week — which could easily be met by paying for groceries or other common expenses. Remember, though: You should charge only what you can afford to pay back on the card on time and in full.
What else you need to know
- The card doesn’t have a sign-up bonus or 0% intro APR.
- The annual percentage rate, or APR, is on the high end — a variable 26.99% on purchases and balance transfers. Try to pay off your balance on time each month to avoid interest costs.
- The card offers $0 fraud liability.
- You’ll get alerts for your VantageScore® 3.0 credit score from TransUnion with the CreditWise program, which is a free credit-monitoring tool that allows you to view your credit history and receive advice and tips on how to improve your credit.
- There are no foreign transaction fees.
Who should get this card?
The Capital One QuicksilverOne Cash Rewards Credit Card doesn’t offer the glitz and glam you can get with some cards that have higher annual fees. So this card isn’t for everyone. But it can be a good place to start if you’re working on your credit.
If you’re careful about the way you use your card — by paying off your balance in full and on time every month, for example — the Capital One QuicksilverOne Cash Rewards Credit Card can be a practical way to build your credit while also earning cash back rewards.
Not sure this card is for you? Consider these alternatives.
- Discover it® Student chrome: This card may work well if you’re a student who wants a chance to earn higher rewards in certain categories.
- Capital One® VentureOne® Rewards Credit Card: If your credit has improved after using the Capital One QuicksilverOne Cash Rewards Credit Card, this card could be a good fit for travel rewards and benefits.
- Chase Freedom Flex℠: If you’re looking for higher rewards and don’t mind a little work to get them, this card may be for you.