Capital One Quicksilver Secured Cash Rewards Credit Card review Low-risk high-reward for building credit Review Bankrate Main Menu Mortgages Financing a home purchase Refinancing your existing loan Finding the right lender Additional Resources Looking for the perfect credit card? Narrow your search with CardMatch Main Menu Banking Compare Accounts Use calculators Get advice Bank reviews Looking for the perfect credit card? Narrow your search with CardMatch Main Menu Credit cards Compare by category Compare by credit needed Compare by issuer Get advice Looking for the perfect credit card? Narrow your search with CardMatch Main Menu Loans Personal Loans Student Loans Auto Loans Loan calculators Looking for the perfect credit card? Narrow your search with CardMatch Main Menu Investing Best of Brokerages and robo-advisors Learn the basics Additional resources Looking for the perfect credit card? Narrow your search with CardMatch Main Menu Home equity Get the best rates Lender reviews Use calculators Knowledge base Looking for the perfect credit card? Narrow your search with CardMatch Main Menu Real estate Selling a home Buying a home Finding the right agent Additional resources Looking for the perfect credit card? Narrow your search with CardMatch Main Menu Insurance Car insurance Homeowners insurance Other insurance Company reviews Looking for the perfect credit card? Narrow your search with CardMatch Main Menu Retirement Retirement plans & accounts Learn the basics Retirement calculators Additional resources Looking for the perfect credit card? Narrow your search with CardMatch Advertiser Disclosure

Capital One Quicksilver Secured Cash Rewards Credit Card review Low-risk high-reward for building credit

This straightforward, secured cash back card helps rebuild credit, but comes at the cost of a hefty security deposit and APR. Written by Credit Cards Editor Nouri Zarrugh is a writer and editor for CreditCards.com and Bankrate, focusing on product news, guides and reviews. His areas of expertise include credit card strategy, rewards Sept. 29, 2022 Edited by Associate Editor Brendan Dyer holds a Master of Fine Arts in Journalism from Western Connecticut State University and worked previously as a content editor for Regional News Network, a hyper-local Reviewed by Credit Card Reviews Writer Bankrate expert Garrett Yarbrough strives to make navigating credit cards and credit building smooth sailing for his readers. After regularly featuring his credit card, Sept. 29, 2022

Share

Bankrate Logo

Why you can trust Bankrate

At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation for how we make money. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. Terms apply to the offers listed on this page. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. Bankrate Logo

Why you can trust Bankrate

At Bankrate, we have a mission to demystify the credit cards industry — regardless or where you are in your journey — and make it one you can navigate with confidence. Our team is full of a diverse range of experts from credit card pros to data analysts and, most importantly, people who shop for credit cards just like you. With this combination of expertise and perspectives, we keep close tabs on the credit card industry year-round to: Meet you wherever you are in your credit card journey to guide your information search and help you understand your options. Consistently provide up-to-date, reliable market information so you\'re well-equipped to make confident decisions. Reduce industry jargon so you get the clearest form of information possible, so you can make the right decision for you. At Bankrate, we focus on the points consumers care about most: rewards, welcome offers and bonuses, APR, and overall customer experience. Any issuers discussed on our site are vetted based on the value they provide to consumers at each of these levels. At each step of the way, we fact-check ourselves to prioritize accuracy so we can continue to be here for your every next. Bankrate Logo

Editorial Integrity

Bankrate follows a strict , so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions.

Key Principles

We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers.

Editorial Independence

Bankrate’s editorial team writes on behalf of YOU – the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information. Bankrate Logo

How We Make Money

You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. Bankrate Logo

Insurance Disclosure

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

ON THIS PAGE

PREV NEXT

Snapshot

3.8 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. star icon star icon star icon star icon star icon star icon star icon star icon star icon star icon Bottom line It’s worth considering the Quicksilver Secured if you’re looking for a low-cost way to boost your credit score while earning cash back with no annual fee. That said, the card’s high ongoing APR rate and minimum deposit requirement may be a drawback. on Capital One's secure site

Best secured card for flat-rate rewards

Capital One Quicksilver Secured Cash Rewards Credit Card

Rewards rate 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 Earn unlimited 1.5% cash back on every purchase, everywhere Annual fee Intro offer Intro offer is not available to this Capital One credit card Regular APR Recommended Credit Score A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Capital One Quicksilver Secured Cash Rewards Credit Card Overview

If you're looking for a chance to build credit while keeping costs low, a is a great first step. Though you'll need to put down a refundable security deposit to get started, secured cards typically cost less and offer better terms than the unsecured cards available for people with or . The Capital One Quicksilver Secured Cash Rewards Credit Card is no exception. A secured version of the , a popular , the Quicksilver Secured charges no annual fee and carries the same flat cash back rate as its predecessor, making it not only a solid credit-building option but also one of the most rewarding secured cards on the market. While other secured cards may offer more flexibility with their deposit requirements, higher starting credit limits and additional value via unique perks, the Quicksilver Secured should be a terrific starting point for the average credit-builder.

What are the pros and cons

Pros

Offers a better-than-average flat rewards rate on general purchases, making it a good option for low-maintenance cardholders. Offers prequalification, allowing you to get a sense of your odds of approval before you apply and put your credit score at risk. Gives you a chance to increase your credit limit in as little as six months with responsible card use. You can earn back your security deposit as a statement credit when you use your card responsibly — a unique feature that should appeal to credit-builders wary of tying up money in a security deposit.

Cons

Carries a high minimum deposit requirement, which could be a barrier for people who don’t want to tie up $200 unavailable for months. Features a low maximum credit limit to start, which could make it more difficult to keep your credit utilization — a key credit scoring factor — in check. Charges a very high ongoing APR if you wind up carrying a balance.

A deeper look into the current card offer

Quick highlights

Rewards rate: 1.5 percent cash back on all eligible purchases, unlimited 5 percent cash back on hotels and rental cars booked through Capital One Travel Welcome offer: N/A Annual fee: $0 Purchase intro APR: N/A Balance transfer intro APR: N/A Regular APR: 28.49 percent variable

Current welcome offer

The Quicksilver Secured doesn't come with a welcome bonus, which is typical of secured cards (with a few notable exceptions, such as the ). Other factors, such as the rewards rate and regular APR, are more important considerations when picking a secured card.

Rewards rate

The Quicksilver Secured card keeps things simple, offering a flat cash back rewards program and easy redemption that makes earning and using rewards a cinch, even for total newbies. You can also earn 5 percent back on hotels and rental cars booked through Capital One Travel. If you are an avid or aspiring traveler, this card may be a good starting point for eventually getting an . Otherwise, it may not be the most rewarding option on its own, but there's no doubt that the Quicksilver Secured card blows most credit-building cards' rewards programs out of the water.

How you earn

Like the unsecured version of the card, the Quicksilver Secured card earns a flat rate of 1.5 percent cash back on all eligible purchases, with no need to track spending or enroll in bonus categories. There's also no limit to the amount of cash back you can earn. This makes the Quicksilver Secured card an ideal choice if you're just getting started with credit cards or cash back and don't need the headache of juggling multiple cards and strategizing over how to maximize your rewards on every purchase. You can also earn unlimited 5 percent cash back on hotels and rental cars booked through Capital One Travel. While 1.5 percent cash back is not the highest rewards rate available on a secured card, it's easily one of the best flat rates you can find as a credit-builder. Not only do the few competing secured cards that offer rewards typically cap cash back on general purchases at just 1 percent, but cash back programs are also hard to find on secured cards in general, with many offering few extra features other than the opportunity to build credit with responsible card use. To decide whether a flat-rate card like the Quicksilver Secured makes sense for you, take a look at your budget to see where you typically spend the most, as cards that offer bonus rewards in one of your highest spending categories - like gas or dining out - may prove more valuable than a flat-rate card. That said, the category variety you'll find on secured cards that offer rewards is quite limited, so a boosted rate on general purchases will likely pay off for most cardholders.

How to redeem

As with earning, redeeming cash back with the Quicksilver Secured card is remarkably easy. You can get your cash back in the form of a statement credit or a check in the mail or trade it in for gift cards and online purchases. You can also set up automatic redemption when you reach a certain cash back balance or at a specific date each year. While this is not necessarily the most comprehensive list of redemption options, it should offer more than enough flexibility for most credit-builders.

How much are the rewards worth

Since this card earns cash back rewards, you won't have to worry about calculating point values or weighing redemption options. Instead, you simply earn a percentage back of every dollar you spend. For example, if you use your Quicksilver Secured card to purchase $100 worth of groceries, you'll earn $1.50 back.

Other cardholder perks

Considering the Quicksilver Secured is designed for cardholders with damaged or limited credit histories, it may come as no surprise that the card carries minimal extras. Still, along with standard credit card perks like $0 fraud liability, the Quicksilver Secured features a handful of unique features that could prove particularly valuable for credit-builders, including the ability to increase your credit limit and earn back your security deposit.

Increase your credit limit with responsible use

The Quicksilver Secured card starts you off with a $200 credit limit, matching your $200 security deposit. That's a fairly low starting limit, even compared to unsecured credit-building cards, many of which give you at least a $300 starting limit with no deposit requirement. Since credit utilization - the amount of money you've borrowed relative to your total available credit - is a key scoring factor, such a low limit could prove troublesome for credit-builders. However, the Quicksilver Secured makes up for this by giving you a clear path to a higher limit. If you use your card responsibly, such as by making your monthly payments on time, you can qualify for a higher limit in as little as six months. While this is a standard timeframe for a credit limit increase, plenty of competing credit-building cards offer either no clear timeframe for increasing your limit or only promise to review your account periodically to see if you're eligible for a higher limit. Being able to increase your credit limit and having a clear roadmap for how to do so should help credit-builders stay on track and improve their utilization and score efficiently. If you keep up the good work, you may even be able to get your deposit back and "graduate" to an unsecured Capital One card.

Earn back your security deposit

An even more compelling feature of the Quicksilver Secured card is that it gives you a chance to earn back your security deposit with responsible card use. If you make your card payments on time and otherwise use your card responsibly, you can get your deposit added to your account as a statement credit. This is similar to earning a sign-up bonus on a higher-tier rewards card, with the difference being there is no preset spending requirement or timeframe for earning the statement credit. If you're looking for even more incentive to keep your thin or damaged credit file on the right path, this unique perk is a great addition.

Get preapproved with only a soft credit pull

When you're looking for a credit card with a limited credit history or poor credit, it can be tough to know which options are worth an application. Since nearly all new card applications result in a "hard pull" of your credit, which temporarily knocks a few points off your credit score, it's best to limit applications to those cards that offer good approval odds. The Quicksilver Secured is a big help in this regard. You can check if you're preapproved for the card at the Capital One website or via Bankrate's CardMatch tool with only a soft credit check, which has no impact on your score. If you are preapproved this way, you can move forward with a formal application with a bit more confidence about your odds of approval. Though you'll still face a hard pull when you hit apply and your score will still temporarily take a minor dip, you'll at least have a good chance of coming out with a new card.

Rates and Fees

Along with the card's generous flat cash back rewards rate, one of the key selling points of the Quicksilver Secured card is its low cost. Your security deposit is refundable and the card carries no annual fee, so as long as you pay off your balance each month, it should cost you nothing to keep the Quicksilver Secured in your wallet. If you do wind up carrying a balance, though, the card could prove costly. While it doesn't make much sense to carry a balance on a secured card since you'd essentially be borrowing money from yourself while paying interest to the card issuer, it can happen; and if it does, you'll face a very high variable APR of 28.49 percent, well above the current . Considering Quicksilver Secured card applicants may have less experience with using credit cards or previous financial missteps, the card's high APR is worth watching out for.

How the Quicksilver Secured card compares to other secured cards

Though the Quicksilver Secured is a terrific secured card option for credit-builders, offering solid rewards at a low cost, it's not necessarily the best fit if you want to maximize your earnings or get more control over your deposit and credit limit.

Capital One Quicksilver Secured Cash Rewards Credit Card

star icon star icon star icon star icon star icon star icon star icon star icon star icon star icon Bankrate Score Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. on Capital One's secure site Annual fee Intro offer Intro offer is not available to this Capital One credit card Rewards rate 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 Earn unlimited 1.5% cash back on every purchase, everywhere Recommended credit A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Discover it® Secured Credit Card

on Discover's secure site Annual fee Intro offer Intro Offer: Unlimited Cashback Match - only from Discover. Discover will automatically match all the cash back you've earned at the end of your first year! There's no minimum spending or maximum rewards. Just a dollar-for-dollar match. Rewards rate Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. Earn unlimited 1% cash back on all other purchases – automatically. Recommended credit A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

OpenSky® Secured Visa® Credit Card

on Capital Bank's secure site Annual fee Intro offer Intro offer is not available to this Capital Bank credit card Rewards rate Recommended credit A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Quicksilver Secured card vs Discover it® Secured Credit Card

Long considered one of the best secured cards on the market, the could beat out the Quicksilver Secured when it comes to rewards value thanks to its higher rewards rate in the popular categories of gas and restaurants as well as a unique introductory offer that sees Discover automatically matching all the cash back you've earned at the end of your first year. If you see yourself spending heavily in those categories or with the card in general, the Discover it Secured card's earnings could easily outpace those of the Quicksilver Secured, at least in the first year. Add to this the card's higher maximum deposit limit of $2,500, which could make it much easier to keep your credit utilization in check, and the Discover it Secured stands as a robust alternative to the Quicksilver Secured.

Quicksilver Secured card vs OpenSky® Secured Visa® Credit Card

One of the key advantages of the is its deposit and credit limit flexibility. You can put down anywhere from $200 to $3,000 and get a matching credit limit, the high end of which easily beats the maximum limit offered by the Quicksilver Secured and is one of the highest maximum limits available on a secured card. If you have the cash to spare, opting for such a high limit will give you much more wiggle room when it comes to credit utilization. And since credit utilization makes up 30 percent of your FICO credit score, maintaining a low balance with a high limit can fast-track your credit-building efforts. The barrier of entry for this card also does not require a credit check or even a bank account to get started. On the downside, the card will certainly cost more than the Quicksilver Secured due to its modest annual fee and lack of rewards.

Best cards to pair with this card

If you're new to credit cards or working on repairing your score, you may be best off sticking to a single credit-building card like the Quicksilver Secured to start. Once you build up your score and upgrade to a more lucrative unsecured card, you can more easily build out a credit card portfolio focused on maximizing your earnings and reward variety. That said, if you're eager to get more credit and potentially speed up the credit-building process with a second card, a tiered bonus category card like the Discover it Secured is the smart choice. By combining a card like the Discover it Secured - which earns bonus cash back in specific spending categories - with a flat-rate card like the Quicksilver Secured, you'll ensure you get outsized rewards in both your biggest spending categories and general purchases.

Bankrate s Take Is the Quicksilver Secured card worth it

If you're looking for a low-cost way to work on your credit score while dipping a toe into the world of cash back, it's hard to go wrong with the Quicksilver Secured. While a bit more flexibility with its deposit and starting credit limit would be ideal, the card's simple rewards program, easy redemption and user-friendly features - including a clear timeline to a higher limit and a chance to earn back your security deposit - make it a solid starter card for credit-builders and rebuilders alike.

Frequently Asked Questions

Is the Capital One Quicksilver Secured a Visa or Mastercard

As Capital One issues cards on both networks, the Quicksilver Secured can be either a Visa or Mastercard. You cannot choose your card network, but Visa and Mastercard have widespread global acceptance, so you should have no trouble using your Capital One Quicksilver Secured Card anywhere credit cards are accepted.

What credit score do you need for the Capital One Quicksilver Secured Cash Rewards Card

The Capital One Quicksilver Secured Cash Rewards Card has no minimum credit score requirement since it's specifically intended for people with poor or limited credit.

What is the credit limit on a Capital One Quicksilver Secured Card

Typically, a secured card’s credit limit is equal to the deposit you make. Unlike most secured cards, however, the Quicksilver Secured does not give you full control over your maximum credit limit. You must put down at least $200 to get a matching $200 credit limit, and while you can also add additional deposits before your account opens to receive a higher initial credit line, your maximum credit limit will depend on your creditworthiness and range from $1,000 to $3,000.

Is a secured credit card a good way to rebuild credit

Secured cards are one of the best ways to rebuild credit if you have limited credit history or a low credit score, and they’re a good alternative if you can’t qualify for a traditional unsecured credit card. You can build a positive credit history in no time if you use your secured card responsibly by keeping your balance low and paying your bill on time every month.

ON THIS PAGE

Written by Nouri Zarrugh Credit Cards Editor Nouri Zarrugh is a writer and editor for CreditCards.com and Bankrate, focusing on product news, guides and reviews. His areas of expertise include credit card strategy, rewards programs, point valuation and credit scores, and his stories on building credit have been cited by Mic.com, LifeHacker, People.com and more. Through his thorough card reviews and product comparisons, Nouri strives to demystify personal finance topics and credit card terms and conditions to help readers save money and protect their credit score. Edited by Associate Editor Reviewed by Credit Card Reviews Writer

Advertiser Disclosure

Bankrate.com is an independent, advertising-supported comparison service. The offers that appear on this site are from companies from which Bankrate.com receives compensation. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within listing categories. Other factors, such as our own proprietary website rules and the likelihood of applicants' credit approval also impact how and where products appear on this site. Bankrate.com does not include the entire universe of available financial or credit offers.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. * See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer. Editorial Disclosure: Opinions expressed here are the author's alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.