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Capital One Quicksilver Secured Cash Rewards Credit Card Review

Capital One Quicksilver Secured Cash Rewards Credit Card

Capital One Quicksilver Secured Cash Rewards Credit Card Review

Rewards Rate
1.5% Cash Back on every purchase, every day; 5% Cash Back on hotels and rental cars booked through Capital One Travel (terms apply)
Credit Line
Put down a refundable $200 security deposit to get a $200 initial credit line.
Regular Purchase APR
28.49% (Variable)
Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

Who is the Capital One Quicksilver Secured Cash Rewards Credit Card best for?

If you want to build your credit profile with the help of a secured credit, while also earning cash back rewards on every purchase you make, the Capital One Quicksilver Secured Cash Rewards Credit Card should be on your radar.

The Capital One Quicksilver Secured Cash Rewards Credit Card is designed for individuals with poor/limited credit and requires a security deposit of $200, which will serve as your initial line of credit.

Because Capital One reports your credit activity to the three major credit bureaus (Experian, TransUnion and Equifax), you can boost your score by demonstrating responsible card usage — this includes paying your bill on time each month and keeping your balance well below your credit limit (these are the two most important factors affecting your credit score). You can also be automatically considered for a higher credit line starting at six months with no additional deposit.

We highlight the pros and cons of the Capital One Quicksilver Secured Cash Rewards Credit Card and show how it compares to similar secured cards to help you determine if it’s the right fit for you.

Capital One Quicksilver Secured Cash Rewards Credit Card overview

    • No annual or hidden fees, and you can earn unlimited 1.5% cash back on every purchase, every day. See if you're approved in seconds
    • Put down a refundable $200 security deposit to get a $200 initial credit line
    • Building your credit? Using a card like this responsibly could help
    • Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges
    • You could earn back your security deposit as a statement credit when you use your card responsibly, like making payments on time
    • Be automatically considered for a higher credit line in as little as 6 months with no additional deposit needed
    • Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply
    • Monitor your credit score with CreditWise from Capital One. It's free for everyone
  • Credit needed:
    300 540
    Poor/Limited
  • None foreign transaction fees
  • $0 fraud liability
  • Emergency card replacement

Intro Purchase APR

N/A

Regular Purchase APR

28.49% (Variable)

Intro BT APR

N/A

Regular BT APR

28.49% (Variable)

Annual Fee

$0

Cash Advance Fee

3% of the amount of the cash advance, but not less than $10

Foreign Transaction Fee

None

Balance Transfer Fee

$0 at this Transfer APR

Pros and cons

Pros

  • Rewards rate
  • Ability to raise your credit line
  • $0 annual fee

Cons

  • High APR
  • Maximum credit line cap
  • No sign-up bonus

What we like about the Capital One Quicksilver Secured Cash Rewards Credit Card

  • Cash back rewards

    Capital One Quicksilver Secured Cash Rewards Credit Card holders earn 1.5% Cash Back on every purchase, every day; 5% Cash Back on hotels and rental cars booked through Capital One Travel (terms apply). Rewards can be redeemed for a check, statement credit, gift cards or used to cover recent purchases.

  • Ability to increase credit line

    The Capital One Quicksilver Secured Cash Rewards Credit Card requires a security deposit of $200 for an initial credit line of $200, but it is possible to raise your initial credit line (up to a maximum of $3,000) by depositing more into your account prior to activating your card.

    In addition, Capital One will automatically begin reviewing your account after six months to see if you qualify for a higher credit line with no additional deposit.

    Your deposit will be refunded if you close you account and pay your balance in full, or if Capital One transitions your account to an unsecured card.

  • Annual fee

    The Capital One Quicksilver Secured Cash Rewards Credit Card charges a $0 annual fee.

    In addition, the card comes with None foreign transaction fees, no replacement card fees and no authorized user fees.

What to watch out for with the Capital One Quicksilver Secured Cash Rewards Credit Card

  • High APR

    If you carry a balance from month to month on the Capital One Quicksilver Secured Cash Rewards Credit Card, you’ll be subject to a high interest rate: 28.49% (variable) APR. That said, cards designed for individuals with poor or limited credit typically come with high interest rates. The best way to avoid high interest charges is to only charge what you can afford to pay off by the statement due date.

  • Maximum credit line cap

    The maximum credit line you can be approved for with the Capital One Quicksilver Secured Cash Rewards Credit Card is $3,000. If you’re interested in a secured card with a higher credit limit, you may want to consider the U.S. Bank Secured Visa Card, which accepts security deposits up to $5,000.

  • No sign-up bonus

    Although the Capital One Quicksilver Secured Cash Rewards Credit Card comes with a rewards program, it does not offer a sign-up bonus.

Alternate secured card

Compare it to the Discover it® Secured Credit Card

| Disclosures
Discover it® Secured Credit Card
Discover it® Secured Credit Card
on Discover's secure site
N/A
25.99% Variable APR
$0
2% cash back at Gas Stations and Restaurants on up to $1,000
  • No credit score required to apply.
  • No Annual Fee, earn cash back, and build your credit with responsible use.
  • Establish your credit line by providing a refundable security deposit of at least $200. That means a $200 deposit for a $200 credit line. Or a $500 deposit for a $500 credit line. Bank information must be provided when submitting your deposit, and the security deposit equals your credit limit.
  • Automatic reviews starting at 7 months to see if we can transition you to an unsecured line of credit and return your deposit.
  • Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. Plus, earn unlimited 1% cash back on all other purchases – automatically.
  • NEW! Discover helps remove your personal information from select people-search websites. Activate by mobile app for free.
  • Get an alert if we find your Social Security number on any of thousands of Dark Web sites.* Activate for free.
  • Click "Apply Now" to see terms and conditions.
300 540

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appears on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

 

If you prefer a secured card that offers a higher credit line,  lower APR on purchases and slightly higher rewards rate in select spending categories, the Discover it® Secured Credit Card is a great alternative.

The card, intended for individuals with poor/limited credit, requires a refundable security deposit ranging from $200 to $2,500, which will serve as your line of credit. The card also comes with a 25.99% Variable APR and a $0 annual fee.

Cardholders earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter. 1% unlimited cash back on all other purchases - automatically. Plus, receive the following sign-up bonus: Discover will match all the cash back you’ve earned at the end of your first year.

After seven months of card membership, Discover will automatically begin reviewing your account to see if you’re eligible to transition to an account with no security deposit.

Compare the Capital One Quicksilver Secured Cash Rewards Credit Card to similar cards

Comparison of four different credit cards
Capital One Quicksilver Secured Cash Rewards Credit Card Discover it<sup>®</sup> Secured Credit Card Capital One Platinum Secured Credit Card OpenSky<sup>®</sup> Secured Visa<sup>®</sup> Credit Card
Capital One Quicksilver Secured Cash Rewards Credit Card Discover it® Secured Credit Card Capital One Platinum Secured Credit Card OpenSky® Secured Visa® Credit Card
Apply Now
on Capital One's secure site
Apply Now
on Discover's secure site
Apply Now
on Capital One's secure site
Apply Now
on OpenSky's secure site
Welcome Offer
N/A Discover will match all the cash back you’ve earned at the end of your first year. No bonus N/A
Rewards Rate
1.5% Cash Back on every purchase, every day; 5% Cash Back on hotels and rental cars booked through Capital One Travel (terms apply) 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. 1% unlimited cash back on all other purchases - automatically Non-rewards Card None
Annual Fee
$0 $0 $0 $35
Regular APR
28.49% (Variable) 25.99% Variable APR 28.49% (Variable) 18.89% (variable)
Recommended Credit
Poor/Limited Poor/Limited Poor/Limited Poor/Limited
Card Details
Capital One Quicksilver Secured Cash Rewards Credit Card Discover it® Secured Credit Card Capital One Platinum Secured Credit Card OpenSky® Secured Visa® Credit Card

Is the Capital One Quicksilver Secured Cash Rewards Credit Card right for you?

The Capital One Quicksilver Secured Cash Rewards Credit Card is a solid option for those looking to build or establish credit history. Along with offering a flat cashback rate on every purchase, the card also provides the opportunity to increase your line of credit. Plus, after demonstrating responsible card usage, cardholders can potentially earn their deposit back and upgrade to an unsecured Capital One Quicksilver Cash Rewards Credit Card.

Just keep in mind, though, that the Capital One Quicksilver Secured Cash Rewards Credit Card comes with a high APR on purchases, so it’s best to pay your balance in full each month.

That said, if you’d prefer a secured card with a lower interest rate and the potential for an even higher line of credit, the Discover it® Secured Credit Card is a good alternative.

The information related to the U.S. Bank Secured Visa Card has been independently collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication.

Apply Now
on Capital One's secure site