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

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.
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Advertising Disclosure
LendingTree is an advertising-supported comparison service. The site features products from our partners as well as institutions which are not advertising partners. While we make an effort to include the best deals available to the general public, we make no warranty that such information represents all available products. We are compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order).

Advertising Disclosure

LendingTree is an advertising-supported comparison service. The site features products from our partners as well as institutions which are not advertising partners. While we make an effort to include the best deals available to the general public, we make no warranty that such information represents all available products. We are compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order).
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American Express Disclosure
Terms apply to American Express benefits and offers. Visit americanexpress.com to learn more.

American Express Disclosure

Terms apply to American Express benefits and offers. Visit americanexpress.com to learn more.

Our take: The Capital One Quicksilver Secured Cash Rewards Credit Card is a great option if you want to boost your credit with the help of a secured card. But while the card offers rewards on every purchase, it also comes with a very high APR.

Pros and cons

  • Qualify with poor/limited credit
  • Reports to major credit bureaus
  • Cash back on every purchase
  • Opportunity to increase your line of credit
  • $0 annual fee
  • Few other fees
  • Security deposit required
  • High APR
  • Cap on maximum credit limit

Is the Capital One Quicksilver Secured Cash Rewards Credit Card worth it?

If you want to build your credit history while also earning rewards, the Capital One Quicksilver Secured Cash Rewards Credit Card is definitely worth considering.

The card comes with a $0 annual fee and accelerated cash back on every purchase, but it does require you to make a minimum deposit of $200 to secure your initial line of credit. That said, Capital One will automatically review your account starting at six months to see if you qualify for a higher credit line.

The card also has a high ongoing APR if you carry a balance from month to month — but that’s to be expected from a card designed for those with less-than-perfect credit.

Quick facts

See Capital One Quicksilver Secured Cash Rewards Credit Card rates and fees.

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

  • Cash back on every purchase

    The Capital One Quicksilver Secured Cash Rewards Credit Card offers a great opportunity to earn a solid cash back rate on every purchase – which is rare for a secured card. 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.

    If you want to earn a higher cash back rate in popular spending categories, like gas and groceries, there are a variety of cards to choose from. But unlike the Capital One Quicksilver Secured Cash Rewards Credit Card, those will typically only offer 1% cash back on general purchases.

  • Opportunity to increase your line of credit

    With the Capital One Quicksilver Secured Cash Rewards Credit Card, you’ll have to submit a security deposit of at least $200 for an initial credit line of $200. But it’s possible to raise your initial credit line by depositing more into your account (up to the maximum limit) prior to activating your card.

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

  • Limited fees

    If you have limited or bad credit, the cards available to you sometimes come with a number of obscure fees that can quickly add up to more than $100 per year. This can include setup fees, monthly maintenance fees, annual fees and authorized user fees.

    But the Capital One Quicksilver Secured Cash Rewards Credit Card doesn’t charge any of those fees. There are also no card replacement fees. And as for foreign transaction fees, there are none. 

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

  • Security deposit required

    To open an account, you’ll need to make a minimum deposit of $200 within 35 days of being approved to secure a $200 line of credit. You can get your security deposit back if you upgrade to an unsecured credit card or close your secured card — as long as your account is in good standing and your balance is paid in full.

    If you don’t have $200 available to pay upfront, you may want to consider an unsecured credit card for bad or limited credit instead.

  • 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 of 30.74% (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.

  • Cap on maximum credit limit

    The maximum credit limit you can receive will be based on your credit worthiness and range from $1,000 to $3,000. While this amount is pretty standard among secured cards, it is possible to find cards that offer higher lines of credit. The U.S. Bank Secured Visa Card, for example, has a maximum credit line of $5,000.

Alternate secured card

Capital One Quicksilver Secured Cash Rewards Credit Card vs. Discover it® Secured Credit Card

| Disclosures
Discover it® Secured Credit Card
Discover it® Secured Credit Card
apply-now-icon Apply Now
on Discover's secure site
Rates & Fees
N/A
28.24% 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 history.
  • Your secured credit card requires a refundable security deposit, and your credit line will equal your deposit amount, starting at $200. Bank information must be provided when submitting your deposit.
  • 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.
  • Discover could help you reduce exposure of your personal information online by helping you remove it from select people-search sites that could sell your data. It’s free, activate with the mobile app.
  • Get an alert if we find your Social Security number on any of thousands of Dark Web sites. Activate for free.
  • Terms and conditions apply.
300 600
Poor/Limited

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 slightly higher cash back rate in popular spending categories and a clearer path to graduating to an unsecured card, the Discover it® Secured Credit Card is a great alternative. Like the Capital One Quicksilver Secured Cash Rewards Credit Card, it doesn’t charge an annual fee, though you will have to put down a $200 to $2,500 deposit.

You’ll 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, Discover will match all the cash back you’ve earned at the end of your first year. This means, if you earn $500 cash back during your first year of card membership, that amount will jump to $1,000.

Capital One Quicksilver Secured Cash Rewards Credit Card vs. Capital One Platinum Secured Credit Card

| Disclosures
Capital One Platinum Secured Credit Card
Capital One Platinum Secured Credit Card
Learn More
on Capital One's secure site
N/A
30.74% (Variable)
$0
Non-rewards Card
  • No annual or hidden fees. See if you're approved in seconds
  • Building your credit? Using the Capital One Platinum Secured card responsibly could help
  • Put down a refundable security deposit starting at $49 to get a $200 initial credit line
  • 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
  • Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges
  • Monitor your credit score with CreditWise from Capital One. It's free for everyone
  • Get access to your account 24 hours a day, 7 days a week with online banking to access your account from your desktop or smartphone, with Capital One's mobile app
  • For Capital One products listed on this page, some of the 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
300 600
Poor/Limited
The information related to the Capital One Platinum Secured Credit Card has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply

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.


 
The Capital One Platinum Secured Credit Card is a good option if you want the opportunity to get a higher credit line than your initial deposit. You may qualify for a $200 line of credit with a minimum refundable deposit of just $49, $99 or $200.

That said, you’re not guaranteed to qualify for one of the lower deposit amounts, and you won’t know your minimum deposit amount until after you’ve been approved.

Capital One will automatically begin reviewing your account within as little as six months to see if you’re eligible for a credit line increase. Additionally, after demonstrating responsible card usage over time, you may be upgraded to the unsecured Capital One Platinum Credit Card and get your deposit back.

On the downside, this card doesn’t offer a rewards program, and it comes with a high 30.74% (Variable) APR.

See Capital One Platinum Secured Credit Card rates and fees.

Capital One Quicksilver Secured Cash Rewards Credit Card vs. OpenSky® Secured Visa® Credit Card

| Disclosures
OpenSky® Secured Visa® Credit Card
OpenSky® Secured Visa® Credit Card
apply-now-icon Apply Now
on Capital Bank, N.A.'s secure site
N/A
25.64% (variable)
$35
Non-rewards card
  • Limited Time Offer: $51 funding voucher applied for all new accounts. Get a $200 credit line for $149. Click “Apply Now” to see additional terms and conditions.
  • No credit check to apply. Zero credit risk to apply!
  • Looking to build or rebuild your credit? 2/3 of cardholders receive a 48+ point improvement after making 3 on-time payments
  • Extend your $200 credit line by getting considered for an unsecured credit line increase after 6 months - no additional deposit required!
  • Get free monthly access to your FICO score in our mobile application
  • Build your credit history across 3 major credit reporting agencies: Experian, Equifax, and Transunion
  • Add to your mobile wallet and make purchases using Apple Pay, Samsung Pay and Google Pay
  • Fund your card with a low $200 refundable security deposit to get a $200 credit line
  • Apply in less than 5 minutes with our mobile first application
  • Choose the due date that fits your schedule with flexible payment dates
  • Fund your security deposit over 60 days with the option to make partial payments
  • Join over 1.2 million cardholders who’ve used OpenSky to build their credit
300 600
Poor

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’re worried that your credit is too bad to be approved for a traditional credit card or even a secured card, the OpenSky® Secured Visa® Credit Card could be a good fit. That’s because the card doesn’t require a credit check or bank account for approval.

The downside is that you’ll have to pay a $35 annual fee, plus a security deposit between $200 and $3,000 (subject to approval). You won’t earn rewards, but you’ll get a card with easier approval, and possibly even a higher credit line over time. Based on your payment performance and history with OpenSky, you can be considered for credit line increases in as little as six months — and potentially every three months thereafter.

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 with the help of a secured credit card. Along with offering a flat cash back rate on every purchase, you’ll also get the opportunity to increase your line of credit. Plus, after demonstrating responsible card usage, you can potentially earn your deposit back and upgrade to an unsecured Capital One Quicksilver Cash Rewards Credit Card.

But if you want the opportunity to earn a higher cash back rate in popular spending categories, the Discover it® Secured Credit Card could be a better fit. Or, if you want to potentially put down a lower initial security deposit for a higher line of credit, the Capital One Platinum Secured Credit Card is a good alternative. Finally, if you still don’t want your credit checked when you apply, you should look at the OpenSky® Secured Visa® Credit Card.

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.

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.