Capital One QuicksilverOne Rewards For Fair Credit
If you have fair to average credit, finding a credit card can be challenging. You may or may not have heard about the Capital One QuicksilverOne card. While this card is suitable for people with average or fair credit, it has benefits and drawbacks associated with it. You want to know both before you pick this card so you can make an informed decision. The article goes over the benefits and drawbacks of the QuicksilverOne Mastercard.
Capital One QuicksilverOne Benefits
One nice benefit of the Capital One QuicksilverOne card is that it can give you extended warranties. All you have to do is buy the product with this card. When you do, it’ll automatically double the manufacturer’s warranty. This is great news for bigger or more expensive products. It can easily help give you greater peace of mind for those big-ticket purchases.
Pulling yourself up from fair credit or an average score starts with understanding your credit score. CreditWise is a powerful tool that allows you to monitor your credit score and view it. So you can make sure that everything is current and correct and monitor for fraudulent purchases. Also, you can get tips to help boost your score. This will help you get a good understanding of your credit in general.
Higher Credit Line Access
Capital One automatically monitors your credit usage and payment history. If you do well, they’ll automatically increase your credit line. You will have to wait up to six months before they do a review of your history. This is nice because a lot of the credit lines start at less than $1,000.
You get cashback to the tune of 1.5% on every purchase with the QuicksilverOne card. Use your rewards as a statement credit, apply them to purchases, or trade them for gift cards. Also, here is no minimum redemption amount. They don’t expire, and you can set up automatic redemption. If you choose this, it’ll automatically redeem your rewards when they hit your set threshold.
No one wants an emergency while traveling. However, if you do, this card will help you. Once you call the number on the back of the card, they’ll connect you to local emergency services. You also gain access to the MasterCard Global Service. This will help you if you end up with a lost or stolen card. It’ll also give you emergency cash advances and emergency card replacement. If your car breaks down, this card will get you emergency roadside assistance.
Capital One Second Look
The Second Look is a 24/7 fraud coverage. The company will automatically monitor your card for fraudulent activity. They’ll freeze your card and alert you if they notice anything. You can either flag the activity as legit, or they’ll issue a new card. This is particularly nice if you’ve already had problems with identity theft and fraud.
Foreign Transaction Fee
You can travel with Capital One’s QuicksilverOne card without worrying about crazy fees. This card has a 0% foreign transaction fee. This also means you can use it at any ATM or merchant inside or outside of the United States. You won’t pay anything per transaction. If you plan to travel, this is a must-have feature on your card. Foreign transaction fees can add up quickly otherwise.
Fair Credit and Average Credit
For people with average credit, getting a credit card can be challenging. However, this card comes specially designed for people with fair or average credit. Yes, you will pay slightly more in interest. However, you can offset it by not carrying a balance from month to month. The application process is simple and straightforward. You apply online and find out in minutes if you qualify. Another credit card Capital One offers for fair credit and average credit is the Capital One® Platinum Card.
Insurance Waivers and Coverage
This card entitles you to travel accident insurance. It’ll give you up to $100,000 in coverage for accidental loss of sight, limb, speech, life, or hearing. The card also offers auto rental insurance waivers. It covers your rental vehicle against theft or collisions if you decline insurance through the rental company.
Identity Theft Resolution
Identity theft is a very real problem. Thankfully, Capital One will help you if this happens to you. All you have to do is call them. Also, they offer identity theft resolution services at no extra charge. You want to act quickly with identity theft to help minimize the damage. Once you call, they’ll freeze your card and work to restore your credit.
Capital One QuicksilverOne Drawbacks
This card comes with an annual fee. Each year you have the card, you’ll pay $39 for it. It’ll automatically show up on your statement at the start of the year. Although this isn’t a large annual fee, it makes you justify using the QuicksilverOne. This is especially true if you don’t plan on using it a lot because the rewards won’t stack up quickly.
The APR for this card is variable, and it sits at 26.99% at the time of this post. So if you plan to carry a balance, this can add a bit on each month. You can avoid this by paying off your balance every month. If you miss payments, your APR can fluctuate. You have to be very careful and monitor your usage and your APR.
No Sign Up Bonus
Many cards come with a bonus when you open them, but the Capital One QuicksilverOne doesn’t offer anything. It’s a solid card for building your credit, but the reward rate is low. There’s nothing to motivate you to use the card when you first get it. Some cards give you points or a monetary bonus if you spend a certain amount in three months. This one doesn’t offer that for cardholders.
Capital One QuicksilverOne Rewards Card YouTube Video Review
CreditFast YouTube Review Video
QuicksilverOne Mastercard YouTube Review Time Stamp Chapters:
1:13 – Capital One Quicksilver vs Quicksilver One
2:05 – Capital One QuicksilverOne Annual Fee
2:38 – Capital One QuicksilverOne vs Platinum
4:23 – Can You Upgrade Quicksilver One to Quicksilver?
5:28 – Capital One QuicksilverOne Benefits
8:17 – QuicksilverOne Credit Score Needed
9:18 – Capital One Quicksilver One Pre Approval
12:20 – QuicksilverOne Credit Limit
15:46 – Is Quicksilver One a Good Card?
Bottom Line on the QuicksilverOne From Capital One
The Capital One QuicksilverOne card is a solid option for people with average or fair credit. It’ll help you slowly rebuild your credit. If you get it, we recommend upgrading to a better card when your score allows it. It’s good for those who rent cars, travel, or dine out frequently. So if this sounds like you, I suggest you take a closer look at the QuicksilverOne card.