| Last updated on October 12th, 2023
Capital One Quicksilver Secured Cash Rewards Credit Card
Capital One Quicksilver Secured Cash Rewards Credit Card
Capital One Quicksilver Secured Cash Rewards Credit Card
- 29.99% variable based on the Prime Rate Regular Purchase APR
- 29.99% variable based on the Prime Rate Balance Transfer APR
- 29.99% variable based on the Prime Rate Cash Advance APR
At a Glance
The Capital One Quicksilver Secured Cash Rewards Credit Card is a secured credit card that offers 1.5% cash back on all purchases, no annual fee, and no foreign transaction fees. Cardholders may automatically graduate to an unsecured version of the card with responsible use in as little as six months.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- 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 wo'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
- Enjoy up to 6 months of complimentary Uber One membership statement credits through 11/14/2024
- Regular Purchase APR: 29.99% variable based on the Prime Rate
- Balance Transfer APR: 29.99% variable based on the Prime Rate
- Balance Transfer Transaction Fee: 3% of the amount of each transferred balance that posts to your account at a promotional APR that we may offer you. None for balances transferred at the Transfer APR
- Cash Advance APR: 29.99% variable based on the Prime Rate
- Cash Advance Transaction Fee: 3% of the amount of the cash advance, but not less than $3
- Late Payment Penalty Fee: Up to $40
- Minimum Deposit Required: $200
- You have bad credit or no credit history at all
- You want to earn cash back rewards while building credit
- You don’t want to pay an annual fee
- You have at least $200 for a security deposit
Capital One Quicksilver Secured Cash Rewards Credit Card Review
The Capital One Quicksilver Secured Cash Rewards Credit Card is a cash back rewards card that can help build credit and make the jump from secured credit card to an unsecured card with responsible use. The card, which requires at least a $200 minimum refundable deposit, features a competitive APR, unlimited cash back rewards, and more – for no annual fee.
Earn 1.5% Cash Back on All Purchases
The Capital One Quicksilver Secured Cash Rewards Credit Card works in the same way as the unsecured, no annual fee Capital One® Quicksilver® Card – the main difference is that the secured version requires a security deposit requirement. The card earns an unlimited 1.5% cash back on all eligible purchases, with no clumsy categories to worry about.
Eligible purchases include pretty much anything you’d typically use your credit card for: from groceries and dining to streaming services, rideshares, and more. Ineligible purchases include cash advances, gambling, and other similar items – pretty standard practice with rewards cards. There is no limit to the total amount of cash back earnable, and rewards never expire as long as the account is open, active, and in good standing.
How to Redeem Cash Back with Capital One
For practical credit card rewards, Capital One Quicksilver Secured Cash Rewards Credit Card owners can enjoy cash back in the form of a check or statement credit, gift cards, or to cover a previous purchase.
The latter is an intriguing redemption option that’s unique to Capital One. Cash back earnings can be applied to previous purchases before your monthly card balance has posted (which is how statement credits function), which is incredibly handy if you’re trying to maintain your credit score and want to lower the total card balance that gets reported to credit bureaus.
Build Credit and Graduate to the Unsecured Quicksilver Card
Tracking credit health with the card is made easy thanks to complimentary access to Capital One’s CreditWise service. This service helps accountholders monitor their credit health and track their credit score’s growth. And, since Capital One reports to all three major credit bureaus (Experian, Equifax, and TransUnion) each month, building credit with the card is easy with determination, hard work, and persistence.
Quicksilver Secured cardholders that spend within their limits, pay their monthly minimum balance due, and demonstrate good financial habits may automatically receive their deposit back, graduating to an unsecured version of the Quicksilver Card.
Other Card Features
Other notable features of the Capital One Quicksilver Secured Cash Rewards Credit Card include:
- No annual fee
- No foreign transaction fees
- Access to Eno®, your Capital One assistant
- 24/7 account access via the Capital One mobile app
- Zero Fraud Liability
- Emergency card replacement
Should You Apply for the Capital One Quicksilver Secured Cash Rewards Credit Card?
Secured credit cards are an excellent way to establish a positive credit history and advance towards unsecured credit in the future. Capital One Quicksilver Secured Cash Rewards Credit Card is a great entry point into cash back credit, thanks to no annual fee, simple, streamlined rewards, and the chance for an automatic credit limit increase without the need for any additional deposits.
Overall, there really isn’t much to dislike about the Secured version of the Quicksilver Card. The rewards aren’t exceptional, but they are unlimited – and slightly higher than what is on offer from most other secured credit cards on the market. Other options for better credit include the Citi Custom Cash℠Card and the Citi® Double Cash Card – 18 month BT offer.
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