Review: Capital One QuicksilverOne Cash Rewards Credit Card

By on

This post comes from Logan Abbott, editor of the credit cards section of MyRatePlan.com.

Capital One has reworked its old cash-back rewards card for people with less than perfect credit and named it the Capital One QuicksilverOne Cash Rewards Card. This card offers some of the best cash-back rewards out of any card currently available.

Advantages

  • Earn cash back on every purchase. Cardholders earn 1.5 percent cash back on all purchases, all the time, with no limit on the amount that can be earned. Capital One used to offer 1 percent cash back with a 50 percent bonus at the end of each year. With the new QuicksilverOne Cash Rewards Card, Capital One is giving cardholders 1.5 percent cash back on every purchase instead of making them wait until the end of the year to realize that extra half of a percent.
  • No rotating categories. The cash-back terms are simple: 1.5 percent cash back on every purchase all the time. There is no need to sign up for rotating categories, which you could potentially forget to do.
  • Generous introductory APR period on purchases. The card offers a 0 percent APR introductory period on purchases until June 2014.
  • No foreign transaction fees. The card does not charge a foreign transaction fee for overseas purchases.

Disadvantages

  • No intro period on balance transfers. Although the card offers a nice 0 percent APR introductory period on purchases, it does not offer a 0 percent APR intro period on balance transfers. However, if you were to make a balance transfer, there is no balance transfer fee.
  • Annual fee. The card charges an annual fee of $39, which is still pretty low.

Bottom line

Get it if: You have good credit and want to take advantage of one of the best cash-back credit cards on the market.

Forget it if: You have poor credit, want to transfer a balance, or want a card with no annual fee.

Follow Logan Abbott on Google+

Note: While we attempt to be completely objective when reporting on credit cards, this site may be compensated by issuers when a reader applies for a credit card through the links within credit card stories or on our credit card search page. Also note that any terms, rates or other features described in this article can change without notice. Always double-check everything with the issuer before applying for any credit card.

Sign up for our free newsletter

Like this article? Sign up for our newsletter and we'll send you a regular digest of our newest stories, full of money saving tips and advice, free! We'll also email you a PDF of Stacy Johnson's "205 Ways to Save Money" as soon as you've subscribed. It's full of great tips that'll help you save a ton of extra cash. It doesn't cost a dime, so why wait? Click here to sign up now.

Check out our hottest deals!

We're always adding new deals and coupons that'll save you big bucks. See the deals to the right and hundreds more in our Deals section.

Click here to explore 1,259 more deals!

Comments & discussion

We welcome your opinions, but let’s keep it civil. Like many businesses, we reserve the right to refuse service to anyone. In our case, that means those who communicate by name-calling, racism, using words designed to hurt others or generally acting like an uninformed bully. Also, comments that include links to email addresses or commercial websites typically aren't posted. This isn't a place to advertise your business.

  • Jcatz4

    I now have a QuickSilverOne MastercCard from Capital One because CapitalOne bought out HSBC MasterCard. I guess I should be glad that I will be getting 1.5% back on all purchases that I make with the card but I had a True 2% back on everything with my old HSBC MasterCard. I do not see anything on the information that was sent to me with this new QuickSilverOne MasterCard from CapitalOne that says anything about an annual fee. I did not pay an annual fee with the old HSBC MasterCard and I will never pay a fee to carry a credit card. I guess I will have to make a phone call just to be sure that they will not be charging me an annual fee.