If you have average credit but still want to earn cash back, I break down exactly how much you can earn with the Capital One QuicksilverOne Cash Rewards Credit Card.

The Capital One QuicksilverOne Cash Rewards Credit Card is a cash back credit card, designed for people who have average credit and/or are rebuilding their credit. The card provides 1.5% cash back on all purchases – regardless of what, when, or where, and comes with a plethora of additional Capital One benefits.

But the big question is how much can you earn with the Capital One QuicksilverOne Cash Rewards Credit Card? In this article, I am going to give a high-level overview of the card, then go a little further into how much you can earn, so you can determine if it’s the right card for you or not.

Let’s first talk about some of the key facts of this card.

Capital One QuicksilverOne Rewards Credit Card key facts

Capital One QuicksilverOne Cash Rewards Credit Card

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In A Nutshell

If you don’t have the excellent credit needed to score some of the bonuses other Capital One credit cards offer, consider the Capital One QuicksilverOne Cash Rewards Credit Card. It’s a terrific card for average credit and you can still earn 1.5% cash back on all purchases with a modest $39 annual fee.

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Credit Score Requirements: Credit Score requirements are based on Money Under 30’s own research of approval rates; meeting the minimum score will give you the best chance to be approved for the credit card of your choice. If you don’t know your credit score, use our free credit score estimator tool to get a better idea of which cards you’ll qualify for. *Money Under 30 uses a FICO 8 score, which is one of many different types of credit scores. *A creditor may use a different score when deciding whether to approve you for credit.
Poor 500-599
Fair 600-699
Good 700-749
Excellent 750-850

What We Like:

  • 1.5% cash back on all purchases.

  • Be automatically considered for a higher credit line in as little as six months.

  • No foreign transaction fees and a modest $39 annual fee.

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  • Unlimited cash back: You’ll earn 1.5% cash back on every purchase.
  • Rewards don’t expire: Your rewards won’t expire for the life of the account.
  • Annual fee: $39.
  • Purchase rate: 29.99% (Variable).
  • Automatic credit line reviews: You’ll receive reviews to your credit line, and if you’ve been making on-time monthly payments, your line could increase. 
  • Access to your credit score: You’ll have unlimited access to your credit score and tools to help you monitor your credit profile.
  • Fraud liability: $0 fraud liability if your card is ever lost or stolen.
  • Travel perks: There’s no foreign transaction fee, and you can get 24-hour travel assistance services.

How much money can I earn in rewards?

 Earnings in year oneEarnings in subsequent years
Annual fee$39$39
Sign-up bonus (statement credit)$0$0
Cash back earned from spending $2,000 per month$360$360
Total cash back earned (after annual fee)$321$321

The above table is based on the assumption that you will be spending $2,000 per month on your Capital One QuicksilverOne Cash Rewards Credit Card. All purchases will earn a flat 1.5% cash back rate – regardless of what you buy, where you buy it, or when you buy it.

There is no sign-up bonus with the card, and it does have an annual fee – which I took into account for your overall earnings rate. So assuming you are spending $2,000 per month, you’ll earn $360 in total cash back for the first year and subsequent years after that (assuming no change to your spending).

To get the value of the overall rewards, though, I’ll subtract the $39 annual fee – leaving you with a total cash back value of $321. What’s great about this is you can sit back and let your rewards accumulate, since rewards don’t expire for the life of the account and you can redeem cash back for any amount at any time.

The other thing I like about the cash back rewards is the ability to redeem it for gift cards. Obviously you can keep gift cards for yourself, but I prefer to use mine for holiday gifts. 

Now, also remember that this card is designed for those rebuilding their credit. So while $321 may not seem like a ton of cash back compared to some other cards, for a credit-builder card, this is a really nice bonus. So those with average credit can get this card, build their credit, AND earn a sizable cash back bonus each year.

Other considerations

The Capital One QuicksilverOne Cash Rewards Credit Card is designed for those with average credit, so if you’re looking for a cash back credit card and you have better than average credit, you will probably be better suited looking for one of the best overall cash back credit cards. If your credit is average, or below average, this is an excellent option for you, since you can still earn rewards and you have a higher likelihood of being approved.

There is also no signup bonus, which is another thing to be mindful of. Many cash back credit cards will offer some type of cash bonus if you spend a certain amount within the first three months of opening the card. While the regular earnings rate on the card is good, there’s no bonus for spending a certain amount.


All in all, the Capital One QuicksilverOne Cash Rewards Credit Card is a feasible cash back credit card for those who are looking to rebuild their credit AND want rewards. The big caveat, though, is the purchase APR – which sits at 29.99% (Variable). With a rate that high, you’re best off paying your card in full every month to take full advantage of the cash back.

To summarize your earrings, I assumed that you would be spending $2,000 every month on this card ($24,000 total for the year), which would earn a flat 1.5% cash back on all purchases. In this scenario, you’d earn a total of $360 in cash back. Minus the annual fee, you’d end up with $321 after a year and each subsequent year.

You really can’t go wrong with this card if you’re building your credit back up – the earnings rate is nice, and you get a lot of other benefits from Capital One. Just make sure to pay your balance in full each month.

Disclaimer: Money Under 30 makes every effort to maintain accurate information. Opinions expressed are the author’s alone and have not been approved or endorsed by the credit card issuer.

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.

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About the author

Chris Muller picture
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Chris has an MBA with a focus in advanced investments and has been writing about all things personal finance since 2015. He’s also built and run a digital marketing agency, focusing on content marketing, copywriting, and SEO, since 2016. You can connect with Chris on Twitter.