Capital One QuicksilverOne Cash Rewards Card — Full Review [2023]

Great Card If

• You have average credit
• You don’t want to keep track of spending categories

Don’t Get If

• You have excellent credit
• You want to earn travel rewards

Welcome Offer and Cash-Back Earning Rate

The QuicksilverOne card is for those who want to build their credit. It does not typically have a welcome offer.

You earn unlimited 1.5% cash-back on all purchases.

After making your first 6 monthly payments on time, you can receive access to a higher credit line.

Capital One and Platinum Mastercard Perks

The QuicksilverOne card comes with a ton of travel, shopping, and account management perks from Capital One and Platinum Mastercard.

For instance, receive 24-hour travel assistance, roadside assistance, and travel accident insurance when you use the card. Also, you can register for ID theft alerts and price protection.

Of course, these are just a few of the benefits available to cardholders. We will explore more of these in the sections below.

Best Way To Redeem Cash Rewards

You can request cash-back at any time, either as statement credit or in the form of a check. Additionally, you can even set a specific redemption threshold to receive your cash-back automatically when it reaches $25, $50, $100, or $200.

Another option is to select a date on the calendar to receive your cash-back. To set up a redemption schedule, go to capitalone.com or call the Rewards Center.

After setting these up, you’ll still be able to request cash-back when you want to. If you want to change your automatic redemption schedule, you can of course do that, too.

Other Redemptions

You can redeem cash-back earned with the QuicksilverOne card for merchandise or gift cards by visiting capitalone.com or calling the Rewards Center.

However, we don’t recommend this because the value decreases considerably when you choose any redemption option other than cash-back.

Also, when your eligible card is linked to PayPal, you can checkout with PayPal and redeem your cash-back at a rate of $1 to $1.

Best Way To Maximize Cash Rewards

Because it’s a cash-back card, the more purchases you make with the QuicksilverOne card, the more value it will provide. Beyond that, we also put together a list of some extra tips to help you get the most out of the card.

Quick Earning Tips

Because it’s a cash-back card, the more purchases you make with the QuicksilverOne card, the more value it will provide.

Beyond that, we also put together a list of some extra tips to help you get the most out of the card.

Tip #1: If you’re just using this card, put as many expenses on it as possible.

On the other hand, if your strategy is to combine cards, use the QuicksilverOne card to earn 1.5% when your other options provide a lower earning percentage.

Tip #2: Don’t leave cash-back on the table. Always pay your bill on time, or you risk losing your cash-back for that billing cycle. Plus, you may be able to increase your credit line when you make your first 5 payments on time.

Tip #3: You won’t accrue any foreign transaction fees with the card. Take advantage of this benefit and use the card for all international travel.

An added perk? The card has an EMV chip, which will make your transactions abroad hassle-free.

Tip #4: In some cases, you can transfer Capital One cash-back rewards between accounts. Putting all of your cash-back on one card may be beneficial.

Alternative Cards to the QuicksilverOne Card

Overall, earning and redeeming cash-back with the card could not be easier. It’s a straight 1.5% cash-back on all purchases, so you don’t have to keep track of spending categories.

However, you also can’t get more than 1.5% cash-back for any purchases, which may not be ideal for every cardholder.

For example, with the Blue Cash Everyday® Card from American Express, you earn 3% cash-back on U.S. supermarket purchases up to $6,000, plus an unlimited 2% cash-back on U.S. gas station and U.S. department store purchases. Everything else will get you 1%.

So, it’s a tradeoff. You have to keep track of categories and maximums, but you have more earning potential.

Another card that earns a straight 1.5% cash-back is the Chase Freedom Unlimited®. It doesn’t have an annual fee, and typically offers a welcome bonus.

With this card, you can redeem cash-back for statement credit or purchases in the Chase Ultimate Rewards travel portal.

The only issue with these alternatives is that you may need better-than-average credit to qualify. If that’s not you quite yet, then the QuicksilverOne card provides an opportunity to build your credit by proving your creditworthiness 1 month at a time.

Bottom Line: The QuicksilverOne card earns straight 1.5% cash-back and can’t be redeemed for anything greater than that. Try a higher earning cash-back credit card or a travel rewards credit card if you want more rewards!

For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.

The information regarding the Chase Freedom Unlimited® was independently collected by Upgraded Points and not provided nor reviewed by the issuer.

For rates and fees of the Blue Cash Everyday® from American Express, click here.