We're pretty skeptical when it comes to the Capital One Quicksilver, but the QuicksilverOne is a completely different story. Built for customers that are recovering from bad credit, the QuicksilverOne offers an array of benefits that is hard to come buy for those in the Fair/Average credit category
Most cards in this category will offer 1% cash back, but QuicksilverOne offers 1.5% cash back on all of your purchases. The $39 annual fee is also not terrible for the fair credit market. Some of Capital One's major competitor charging as much as $99 a year for annual fees.
Capital One really shines when it comes to approving fair credit consumers. After you make your first 5 payments on time you can get access to a higher credit line. Credit One will also provide you with access to CreditWise, their credit monitoring program. Watch your credit You can also look at upgrading to a Venture or Venture One as your credit score improves.
QuicksilverOne makes it easy to earn your cash back. You'll get 1.5% cash back on your everyday purchases with no cap. You can redeem online once you reach $25 in awards earned. You'll need to spend $216 a month in order to earn enough cash back to cover your $39 annual fee, but the cash back is just a nice to have. At this point the main concern should be building positive credit history. Make those payments on time, pay your balance off in full each month, and use CreditWise to make smart credit choices.
This is a great card for customers with average, fair, or new to credit users. Capital One is great about helping those customers build their credit history.
If you are on the border or good/fair credit, you might be a better fit for an AmEx Everyday, or a Chase Freedom Unlimited. We'd recommend using CardMatch to see if you are likely to qualify for either. CardMatch uses a soft inquiry to match you to credit offers from some of the leading banks. This doesn't impact your credit score. If you know that you have a solid credit score above 680, either card would be a better no annual fee option for you.
Capital One has created a suite of products that is great at helping customers build credit. If you need to build credit this is the right choice, so press the apply online button already. For customers with good credit, you have more options.