Capital One QuicksilverOne Review: Build Credit While Earning Cash Back

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Capital One QuicksilverOne review
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In the world of credit cards, it can seem like you need perfect credit to earn any kind of credit card rewards.

But with Capital One QuicksilverOne, you don’t have to wait until you have a flawless credit to start seeing savings. What’s more, if you have average credit, the QuicksilverOne can be a great card for you to earn rewards as you build credit.

Take a look at this Capital One QuicksilverOne review to help you weigh the benefits and costs of this card before deciding if it’s the right fit for you.

Capital One QuicksilverOne Review

Here’s a Capital One QuicksilverOne review snapshot of key features. Ideally, this card is for consumers who want to:

  • Earn rewards, with the opportunity to get 1.5 percent cash back on all purchases.
  • Redeem rewards and get cash back with a simple, straightforward, and flexible rewards program.
  • Qualify for a credit card, since the Capital One QuicksilverOne card requires only average credit for approval.
  • Build credit with access to tools and tips that encourage spending behavior that improves credit.
  • Skip cash advance and foreign transaction fees.
Check Out Capital One QuicksilverOne Today

The Capital One QuicksilverOne is a credit card for cardholders with average credit and can be a helpful tool for building credit. It has a straightforward rewards system that makes it a no-brainer to earn and redeem rewards. Plus, the QuicksilverOne has lower fees to help keep costs low.

But the Capital One QuicksilverOne Rewards card is not the cheapest card out there. It has an annual fee and an APR on the higher end. And if rewards or bonuses are the main draw, other cards offer more lucrative cash back rewards.

However, if you’re looking for an accessible credit card, the Capital One QuicksilverOne card delivers. It has a good balance of features that can benefit you as you build credit.

Average credit? You can qualify for the Capital One QuicksilverOne card

You don’t need a perfect or even good credit score to qualify for the Capital One QuicksilverOne cash rewards card.

That’s because this card credit score requirements are more flexible and accepting of average credit scores, according to advertisements. Under the FICO model, this includes credit scores as low as 580 up to the lower 700s.

Essentially, credit scores in this range will meet the requirements for a Capital One QuicksilverOne card. So if your score is right and you’re otherwise well-qualified, you have a good chance of getting this card.

In fact, this benefit is the main reason we named the QuicksilverOne card one of the best starter credit cards available today.

However, approval isn’t guaranteed. At the end of the day, the higher your credit score, the better your chances of qualifying for this card. A higher credit score will also help you get approved for a higher credit limit.

How to apply for the Capital One QuicksilverOne card

The only way to know for sure if you qualify for a Capital One QuicksilverOne card is to apply or pre-qualify.

If you’re not sure which Capital One card is right for you, you can also apply to pre-qualify for their various card offers. You’ll start by submitting some personal information, including the cards you’re interested in. Then Capital One uses this to generate card offers for which you’re qualified.

Capital One QuicksilverOne

Keep in mind that this is not a credit card application. When you’ve picked your card and are ready to apply, find the page for the QuicksilverOne card and hit “Apply Now.” This will take you to a secure online application form.

The good news is Capital One site visitors can apply for the QuicksilverOne card online and get a decision back in under a minute.

capital one quicksilverone cash rewards credit card

The form will ask you for some key identifying and financial information such as:

  • Name, date of birth, and Social Security number.
  • Contact info including residential address, email address, and phone number.
  • Employment information, including employer name and annual income.
  • Whether you have bank accounts.
  • Monthly rent or mortgage costs.

The application page also includes a disclosure for the Capital One QuicksilverOne card. Review it carefully to ensure you understand and agree to all the terms, conditions, and fees for the card.

When you’re done, hit “Continue” to submit the application. You’ll get a decision for approval or rejection within 60 seconds.

If you prefer, you can also apply for the QuicksilverOne by phone at 1-800-695-5500.

Once you’re a cardholder, you can log in at CapitalOne.com or through the Capital One mobile app (for iOS and Android). On both, you can view and manage your credit card account.

Apply for Capital One QuicksilverOne Here

How the Capital One QuicksilverOne card helps build credit

The Capital One QuicksilverOne cash rewards credit card is accessible to consumers with less-than-perfect credit. Since it’s easy to qualify for, the QuicksilverOne can be a great tool for building credit and pushing your score up.

For instance, to improve credit, you should only use no more than 20 percent of your credit limit. But the Capital One QuicksilverOne has a fairly low $300 credit limit minimum, of which 20 percent would be just $60.

Yet, QuicksilverOne cardholders can get a credit line increase after they make their first five payments on time. A credit limit increase will raise your limit and allow you to spend more while building credit.

QuicksilverOne cardholders also get access to Capital One’s CreditWise app, a free credit tracking tool. CreditWise gives a user access to his credit score, along with explanations of how it is calculated.

It will also tell you which factors are helping or hurting your credit most and suggest actions you can take to improve it. You can even use a credit simulator that will estimate how much different actions will raise or lower your credit score. Here’s a video tour of how cardholders can use it effectively.

Easily earn cash rewards with the Capital One QuicksilverOne card

The Capital One QuicksilverOne rewards program is straightforward, making it simple to earn and understand rewards. Cardholders earn 1.5 percent cash back on all purchases made with the card.

Capital One also gives cardholders the freedom to earn and redeem their QuicksilverOne rewards however they want thanks to:

  • No spending categories to earn rewards.
  • No cap to the rewards you can earn.
  • Rewards that can be redeemed at any time, with no minimums.
  • Rewards that never expire.

Account holders can also set their rewards to redeem automatically when they reach a specified dollar amount (such as every time $25 in rewards is accrued) or at preset times (like once a month).

The 1.5 cash back is only valid for new purchases. Rewards won’t be earned on non-purchase transactions such as balance transfers or cash advances.

Capital One QuicksilverOne fees and interest rates

The QuicksilverOne card is a middle-of-the-road card when it comes to cost. While it does have an annual fee and sets interest at a higher APR, it skips some common credit card transaction fees.

Here are the QuicksilverOne fees and costs you might pay, as a cardholder:

  • Annual fee at $39.
  • Variable APR of 24.99%
  • Cash advance fee of $10 or three percent the amount of the cash advance, whichever is greater.
  • Late payment fee up to $35.

These are the only Capital One QuicksilverOne fees listed in the credit card disclosure. With responsible credit card use, you can skip most of these costs. Notice that this card carries no balance transfer fee and no foreign transaction fees.

The QuicksilverOne annual fee is the only credit card cost that can’t be avoided. But the rewards that cardholders earn can help offset this cost. If you spend $2,600 or more in a year on this card – about $217 a month – you’ll earn enough cash rewards to offset the annual fee.

To maximize their QuicksilverOne card benefits, account holders should also pay off their balance in full each month. This will help them avoid interest charges, which will be hefty since this card’s APR is among the highest in the industry.

See If Capital One QuicksilverOne Is Right For You

Customer service and experience with Capital One QuicksilverOne card

Overall, most cardholders have a good experience with this credit card. Many Capital One QuicksilverOne reviews also note that the card is a great way to build credit.

On Credit Karma, users note that their QuicksilverOne credit limits were quickly raised and that they saw big gains in their credit scores.

Some reviewers note that although the annual fee and higher APR on this card can add up, they appreciate the transparent rewards structure. Generally, cardholders feel these costs are offset by the rewards, or easy to avoid with responsible balance management.

Contact Capital One

The Capital One contact page primarily lists phone numbers and mailing addresses.

New customers can call 1-800-695-5500 to inquire about or apply for a new credit card. Cardholders with existing Capital One accounts can call 1-800-CAPITAL (1-800-227-4825) for assistance.

If you’d like to reach out to Capital One online, you can also try their customer support Twitter account (@AskCapitalOne) or Facebook page.

Interested in a personal loan?

Here are the top personal loan lenders of 2018!
LenderAPR RangeLoan Amount 
1 Includes AutoPay discount. Important Disclosures for SoFi.

SoFi Disclosures

  1. Personal Loans: Fixed rates from 6.990% APR to 14.865% APR (with AutoPay). Variable rates from 6.255% APR to 12.555% APR (with AutoPay). SoFi rate ranges are current as of September 1, 2018 and are subject to change without notice. Not all rates and amounts available in all states. See Personal Loan eligibility details. Not all applicants qualify for the lowest rate. If approved for a loan, to qualify for the lowest rate, you must have a responsible financial history and meet other conditions. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, years of professional experience, income and other factors. See APR examples and terms. Interest rates on variable rate loans are capped at 14.95%. Lowest variable rate of 6.255% APR assumes current index rate derived from the 1-month LIBOR of 2.08% plus 4.425% margin minus 0.25% AutoPay discount. For the SoFi variable rate loan, the 1-month LIBOR index will adjust monthly and the loan payment will be re-amortized and may change monthly. APRs for variable rate loans may increase after origination if the LIBOR index increases. The SoFi 0.25% AutoPay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account.

    To check the rates and terms you qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull.See Consumer Licenses.
  2. Minimum Credit Score: Not all applicants who meet SoFi’s minimum credit score requirements are approved for a personal loan. In addition to meeting SoFi’s minimum eligibility criteria, applicants must also meet other credit and underwriting requirements to qualify.
  3. SoFi Personal Loans are not available to residents of MS. Maximum interest rate on loans for residents of AK and WY is 9.99% APR, for residents of IL with loans over $40,000 is 8.99% APR, for residents of TX is 9.99% APR on terms greater than 5 years, for residents of CO, CT, HI, VA, SC is 11.99% APR, and for residents of ME is 12.24% APR. Personal loans not available to residents of MI who already have a student loan with SoFi. Personal Loans minimum loan amount is $5,000. Residents of AZ, MA, and NH have a minimum loan amount of $10,001. Residents of KY have a minimum loan amount of $15,001. Residents of PA have a minimum loan amount of $25,001. Variable rates not available to residents of AK, TX, VA, WY, or for residents of IL for loans greater than $40,000.
  4. Terms and Conditions Apply: SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet SoFi’s underwriting requirements. Not all borrowers receive the lowest rate. To qualify for the lowest rate, you must have a responsible financial history and meet other conditions. If approved, your actual rate will be within the range of rates listed above and will depend on a variety of factors, including term of loan, a responsible financial history, years of experience, income and other factors. Rates and Terms are subject to change at anytime without notice and are subject to state restrictions. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers such as Income Based Repayment or Income Contingent Repayment or PAYE. Licensed by the Department of Business Oversight under the California Financing Law License No. 6054612. SoFi loans are originated by SoFi Lending Corp., NMLS # 1121636. (www.nmlsconsumeraccess.org)

2 Includes AutoPay discount. Important Disclosures for Payoff.

Payoff Disclosures

  1. All loans are subject to credit review and approval. Your actual rate depends upon credit score, loan amount, loan term, credit usage and history. Currently loans are not offered in: MA, MS, NE, NV, OH, and WV.

3 Important Disclosures for FreedomPlus.

FreedomPlus Disclosures

  1. All loans available through FreedomPlus.com are made by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, Equal Housing Lender. All loan and rate terms are subject to eligibility restrictions, application review, credit score, loan amount, loan term, lender approval, and credit usage and history. Eligibility for a loan is not guaranteed. Loans are not available to residents of all states – please call a FreedomPlus representative for further details. The following limitations, in addition to others, shall apply: FreedomPlus does not arrange loans in: (i) Arizona under $10,500; (ii) Massachusetts under $6,500, (iii) Ohio under $5,500, and (iv) Georgia under $3,500. Repayment periods range from 24 to 60 months. The range of APRs on loans made available through FreedomPlus is 4.99% to a maximum of 29.99%. APR. The APR calculation includes all applicable fees, including the loan origination fee. For Example, a four year $20,000 loan with an interest rate of 15.49% and corresponding APR of 18.34% would have an estimated monthly payment of $561.60 and a total cost payable of $7,948.13. To qualify for a 4.99% APR loan, a borrower will need excellent credit on a loan of $15,000 with a term of 24 months, and qualify for at least two of the following discounts: (1) add a co-borrower who has sufficient income; (2) use at least fifty percent of the loan proceeds to directly pay off existing debt; or (3) show proof of having at least forty-thousand dollars in retirement savings – contact FreedomPlus for further details.

4 Important Disclosures for Citizens Bank.

Citizens Bank Disclosures

  1. Personal Loan Rate DisclosureFixed interest rates from 6.49% – 19.49% (6.49% – 19.49% APR) based on applicable terms. Lowest rates range from 5.99%-18.99% (5.99%-18.99% APR), are for eligible applicants, require a 3-year repayment term, and include our Loyalty and Automatic Payment Discounts of 0.25 percentage points each, as outlined in the Loyalty Discount and Automatic Payment Discount disclosures. Subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change.
  2. Loyalty Discount: The borrower will be eligible for a 0.25 percentage point interest rate reduction on their loan if the borrower has a qualifying account in existence with us at the time the borrower has submitted a completed application authorizing us to review their credit request for the loan. The following are qualifying accounts: any checking account, savings account, money market account, certificate of deposit, automobile loan, home equity loan, home equity line of credit, mortgage, credit card account, student loans or other personal loans owned by Citizens Bank, N.A. Please note, our checking and savings account options are only available in the following states: CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI and VT. This discount will be reflected in the interest rate and Annual Percentage Rate (APR) disclosed in the Truth-In-Lending Disclosure that will be provided to the borrower once the loan is approved. Limit of one Loyalty Discount per loan, and discount will not be applied to prior loans. The Loyalty Discount will remain in effect for the life of the loan.
  3. Automatic Payment Discount: Borrowers will be eligible to receive a 0.25 percentage point interest rate reduction on their Citizens Bank Personal Loan during such time as payments are required to be made and our loan servicer is authorized to automatically deduct payments each month from any bank account the borrower designates. If our loan servicer is unable to successfully withdraw the automatic deductions from the designated account two or more times within any 12-month period, the borrower will no longer be eligible for this discount.

5 Important Disclosures for LendingPoint.

LendingPoint Disclosures

  • Loan approval is not guaranteed. Actual loan offers and loan amounts, terms and annual percentage rates (“APR”) may vary based upon LendingPoint’s proprietary scoring and underwriting system’s review of your credit, financial condition, other factors, and supporting documents or information you provide. Origination or other fees from 0% to 6% may apply depending upon your state of residence. Upon LendingPoint’s final underwriting approval to fund a loan, said funds are often sent via ACH the next non-holiday business day. LendingPoint makes loan offers from $2,000 to $25,000, at rates ranging from a low of 15.49% APR to a high of 34.49% APR, with terms from 24 to 48 months. The loan offer(s) shown reflect a 28 day payment cycle which is being offered as a courtesy as many of our customers are paid on a biweekly schedule and thus this may better align the loan payment dates with your actual income receipt schedule.

6 Important Disclosures for LendingClub.

LendingClub Disclosures

All loans made by WebBank, Member FDIC. Your actual rate depends upon credit score, loan amount, loan term, and credit usage & history. The APR ranges from 6.16% to 35.89%. For example, you could receive a loan of $6,000 with an interest rate of 7.99% and a 5.00% origination fee of $300 for an APR of 11.51%. In this example, you will receive $5,700 and will make 36 monthly payments of $187.99. The total amount repayable will be $6,767.64. Your APR will be determined based on your credit at time of application. The origination fee ranges from 1% to 6% and the average origination fee is 5.49% as of Q1 2017. There is no down payment and there is never a prepayment penalty. Closing of your loan is contingent upon your agreement of all the required agreements and disclosures on the www.lendingclub.com website. All loans via LendingClub have a minimum repayment term of 36 months or longer.


7 Important Disclosures for Earnest.

Earnest Disclosures

  1. Earnest does not lend in Alabama, Delaware, Kentucky, Nevada, or Rhode Island.

8 Important Disclosures for Avant.

Avant Disclosures

* The actual rate and loan amount that a customer qualifies for may vary based on credit determination and other factors. Funds are generally deposited via ACH for delivery next business day if approved by 4:30pm CT Monday-Friday. Avant branded credit products are issued by WebBank, member FDIC.

** Example: A $5,700 loan with an administration fee of 4.75% and an amount financed of $5,429.25, repayable in 36 monthly installments, would have an APR of 29.95% and monthly payments of $230.33


* Important Disclosures for Upgrade Bank.

Upgrade Bank Disclosures

* Your loan terms are not guaranteed and are subject to our verification and review process. You may be asked to provide additional documents to enable us to verify your income and your identity. This rate includes an Autopay APR reduction of 0.5%. By enrolling in Autopay your payments will be automatically deducted from you bank account. Selecting Autopay is optional. Annual Percentage Rate is inclusive of a loan origination fee, which is deducted from the loan proceeds. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. All loans made by WebBank, member FDIC. Please refer to Upgrade’s Terms of Use and Borrower Agreement for all terms, conditions and requirements.

** Accept your loan offer and your funds will be sent to your bank via ACH within one (1) business day of clearing necessary verifications. Availability of the funds is dependent on how quickly your bank processes this transaction. From the time of approval, funds should be available within four (4) business days.

7.73% – 29.99%$1,000 - $50,000Visit Upstart
6.26% – 14.87%1$5,000 - $100,000Visit SoFi
6.99% – 35.97%*$1,000 - $50,000Visit Upgrade
8.00% – 25.00%2$5,000 - $35,000Visit Payoff
4.99% – 29.99%3$10,000 - $35,000Visit FreedomPlus
5.99% – 18.99%4$5,000 - $50,000Visit Citizens
15.49% – 34.49%5$2,000 - $25,000Visit LendingPoint
6.16% – 35.89%6$1,000 - $40,000Visit LendingClub
6.99% – 18.24%7$5,000 - $75,000Visit Earnest
9.95% – 35.99%8$2,000 - $35,000Visit Avant
Our team at Student Loan Hero works hard to find and recommend products and services that we believe are of high quality and will make a positive impact in your life. We sometimes earn a sales commission or advertising fee when recommending various products and services to you. Similar to when you are being sold any product or service, be sure to read the fine print understand what you are buying, and consult a licensed professional if you have any concerns. Student Loan Hero is not a lender or investment advisor. We are not involved in the loan approval or investment process, nor do we make credit or investment related decisions. The rates and terms listed on our website are estimates and are subject to change at any time. Please do your homework and let us know if you have any questions or concerns.