Reviews QuicksilverOne From Capital One review

QuicksilverOne From Capital One review

Published: September 26, 2017
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Cash Back Rating:
2.7 rating
2.7 rating
2.7 / 5
Rewards Value: 0.9
Annual Percentage Rate: 1.0
Rewards Flexibility: 4.8
Features: 3.0

In a nutshell:

Designed for cardholders with average credit, the QuicksilverOne card from Capital One combines a hassle-free cash back program with helpful tools for building a higher credit score.

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Rewards Rate
1.5% cash back on general purchases

Sign-up Bonus
None

Annual Fee
$39

Estimated Yearly Rewards Value ($1,325 monthly spend)
$212

APR
24.99% (variable)

Pros

  • No limit on the amount of cash you can earn
  • Cash doesn’t expire
  • No redemption limits
  • Redeem cash for statement credit or check, gift cards and more
  • Can opt for automatic redemption
  • Redeem cash for previous purchases

Cons

  • You  have to pay an annual fee (cardholders with good credit scores should consider the no-annual-fee version of the card)

Other Notable Features: Possible credit limit increase after 5 months of on on-time payments, security and account alerts, personalized due date, Spotify discount, compatible with Apple Pay, no foreign transaction fees, travel accident insurance, roadside assistance, price protection, travel assistance, car rental insurance, extended warranty, annual account summary

Rewards Rating:
2.8 rating
2.8 rating
2.8 / 5
Rewards Value: 1.2
Annual Percentage Rate: 0.2
Rewards Flexibility: 4.8
Features: 3.0

In a nutshell:

For cardholders with less-than-great credit scores, the QuicksilverOne card offers a valuable, flexible rewards program and the option to boost your credit limit after five months.

Learn more about this card

Rewards Rate
1.5% cash back on general purchases

Sign-up Bonus
None

Annual Fee
$39

Estimated Yearly Rewards Value ($1,325 monthly spend)
$212

APR
24.99% (variable)

Pros

  • No limit on the amount of cash you can earn
  • Cash doesn’t expire
  • No redemption limits
  • Redeem cash for statement credit or check, gift cards and more
  • Can opt for automatic redemption
  • Redeem cash for previous purchases

Cons

  • You  have to pay an annual fee (cardholders with good credit scores should consider the no-annual-fee version of the card)

Other Notable Features: Possible credit limit increase after 5 months of on on-time payments, security and account alerts, personalized due date, Spotify discount, compatible with Apple Pay, no foreign transaction fees, travel accident insurance, roadside assistance, price protection, travel assistance, car rental insurance, extended warranty, annual account summary

Cardholders with average credit don’t have to settle for limited benefits and stingy rewards with this user-friendly cash back card. For $39 a year, the QuicksilverOne card offers many of the same benefits as cards for consumers with excellent credit, including an unlimited cash bonus on every purchase and platinum card benefits such as travel accident and car rental insurance, roadside assistance and price protection.

If you who plan to carry a balance, though, you may want to steer clear. The QuicksilverOne card’s APR is high, making it a risky choice for everyday spending.

Simple rewards for busy cardholders
For cardholders who want to earn a considerable amount of cash back and don’t want to mess with complicated rewards schemes, the QuicksilverOne card is an attractive choice. It offers unlimited 1.5 percent cash back on every purchase, which can add up quickly if you use credit to pay for all or most of your purchases. The cash rewards don’t expire either, so you’re also free to build up your rewards slowly if you prefer to only use your card for occasional purchases.

Excellent benefits
In addition, the QuicksilverOne card offers a generous suite of benefits that rival the perks offered by more exclusive cards. For example, it offers extended warranty on purchases, price protection, car rental insurance, roadside assistance, travel accident insurance and a cash advance if you lose your card. The card also offers a number of credit-building tools that you can use to help boost your score. For example, you’ll get unlimited access to your credit score and to educational tools that help you understand what influences it. You’ll also be given the opportunity to increase your credit limit if you make five consecutive on-time payments.

Few promotions
The QuicksilverOne card doesn’t offer a sign-up bonus, though, so you may have to wait to redeem a significant amount of cash. Many cash back competitors offer sign-up bonuses that are worth at least $100 or more; however, those cards are typically geared for cardholders with excellent credit. The QuicksilverOne card does offer a 0 percent APR for nine months, which is a nice perk if you need some time to pay off a big purchase. It doesn’t offer an interest-free balance transfer, though, so if you need more time pay down a balance on another card, you’ll be better off with a different card.

Pricey terms
The biggest downside to the QuicksilverOne card is its expensive APR, which is well above average for a rewards card. Unlike many rewards credit cards, Capital One advertises just one flat APR – 24.99 percent – so cardholders don’t have to guess what rate they’ll be offered. However, a rate above 20 percent is exceptionally high for carrying a balance. This is a good card to use for everyday purchases if you’re disciplined enough to only use it for purchases you can afford to repay immediately. But if you plan to carry a balance, or have so little savings that a financial emergency would force you to rely on credit to tide you over, this is a risky card to choose.

Spotify discount
If you are a Spotify subscriber or are thinking of subscribing to Spotify’s premium service,  the Quicksilver card is currently offering a significant discount on Spotify. Now until April 2018, you can get a 50 percent discount on Spotify Premium if you use the Quicksilver card to pay for you monthly subscription. All you need to do is link your Spotify account to your Quicksilver card, and Capital One will automatically apply the discount as a statement credit each month.

Reasons to get it:

  • You want a higher earning cash back card, but have less-than-perfect credit
  • You want a simpler card with a low maintenance rewards program.
  • You want to earn cash back for everyday purchases and plan to pay off your purchases in full.

How to use it:

  • Avoid the card’s high interest rate by paying off each credit card bill in full.
  • Pay every bill on time in order to receive a credit limit increase and to boost your credit score.
  • Save time by opting in to automatic cash redemption.
  • Link your Spotify account to your Quicksilver card to receive a 50 percent discount on your monthly Spotify Premium subscription.

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