When you have fair or average credit, you generally shouldn’t expect to qualify for credit. credit card rewards. Typically, you will only be approved for no-charge cards that offer a way to replenish your credit, and not much more.
The Capital One QuicksilverOne card is an exception to this rule. It’s a credit card that offers competitive cash back rewards – and people often qualify even if they have fair or better credit.
Capital One Quicksilver One: Key Terms
- Rewards: Unlimited 1.5% cash back on all purchases.
- Annual subscription : $ 39
- APR: 26.99%
How the Quicksilver One card works
You don’t need to have excellent or even good credit to be approved for this card. All you need is “fair” credit. Fair credit is often defined as having a credit rating of 580 or more. Once approved, you will earn 1.5% Cash Back on all purchases, with no limits and no special rotating list of purchase categories you need to worry about.
Benefits include extended warranty coverage, rental car insurance, and roadside assistance services. This card also integrates with Capital One’s CreditWise® program, which helps you monitor and improve your credit score.
While you may not receive a large line of credit initially, Capital One will automatically review your account and consider a higher credit limit within six months. There is an annual fee of $ 39 for this card.
Quicksilver One Card Review: Benefits
This card offers the rare opportunity for people with credit problems to rebuild their credit and gain in competitiveness cash back the same time. For many people, earning rewards will be it’s worth paying the annual fee of $ 39. This card is also issued by a major card issuer and comes with a solid list of cardholder benefits.
Quicksilver One Card Review: Cons
The annual fee of $ 39 contrasts with almost all other credit cards designed for those with fair credit. So while you can get a card with no annual fee instead, it will likely offer little to no rewards. Additionally, this card has a standard APR of 26.99% which is way above average. However, this is competitive for a card designed for people with credit problems.
Alternatives: other credit cards for fair or average credit
Capital One Platinum. It is a similar card that offers no rewards and has no annual fee. Otherwise, most of the features and benefits of the Capital One Platinum are identical to QuicksilverOne.
Petal card. This innovative card gives you 1% cash back and increases that amount to 1.5% after making 12 consecutive payments on time. The standard interest rate is 12.99% to 29.49% when you open your account, depending on your creditworthiness. There are no annual fees or late fees with this card.
There aren’t many cards for people with fair credit that allow you to make money, so the Quicksilver One certainly stands out. If you’re willing to pay the annual fee of $ 39, you can enjoy the best of both worlds.
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