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 a cost.
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Snapshot
4.0
Bottom line
It’s worth considering the Quicksilver Secured if you have no credit history and need a way to build credit. You’ll earn rewards for your purchases, but the card’s high ongoing APR and minimum deposit requirement could turn you away if you’re hoping to keep costs low.
Intro offer
N/A
Rewards Rate
1.5% - 5%
Annual fee
$0
Regular APR
29.99% (Variable)
4.6
Cardholder rating
Extra perks
Online tools
Customer service
Information safe
4.0
Bankrate score
Cost of membership
Ease of building credit
APR
Features
Why you'll like this: Its solid flat rate matches the flat rewards rate of most other flat-rate cards, despite its status as a secured card.
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Capital One Quicksilver Secured Cash Rewards Credit Card overview
This card is the secured version of the Capital One Quicksilver Cash Rewards Credit Card, a popular cash back card that boasts a generous flat-rate rewards program. The Quicksilver Secured comes at a low cost and carries the same flat cash back rate as its unsecured counterpart, making it a solid credit-building option, and one of the most rewarding secured cards on the market.
While other secured cards may offer more flexibility with potentially lower deposit requirements and higher starting credit limits, the Quicksilver Secured could be a terrific starting point for the average credit-builder.
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Rewards
- 1.5 percent cash back on all eligible purchases
- Unlimited 5 percent cash back on hotels and rental cars booked through Capital One Travel
Expert Appraisal: Good
See our expert analysis -
Rates and fees
- APR: 29.99% (Variable)
- Balance transfer fee: $0 at the Transfer APR, 4 percent of the amount of each transferred balance that posts to your account at a promotional APR that Capital One may offer you.
- Cash advance fee: The greater of either $5 or 5 percent of the amount of each cash advance.
- Late payment fee: Up to $40
- Minimum security deposit: $200
- (See Rates & Fees)
Expert Appraisal: Typical
See our expert analysis -
Credit-building features
- Prequalification
- Credit limit increases
- Earn back your security deposit
Expert Appraisal: Good
See our expert analysis -
Other cardholder perks
- Fraud Coverage
- Emergency Card Services
- Mastercard ID Theft Protection™
Expert Appraisal: Typical
See our expert analysis
Quicksilver Secured card pros and cons
Pros
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Offers boosted flat-rate rewards on eligible purchases, making it a good option for low-maintenance cardholders.
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Prequalification gives you a sense of approval odds before you apply and put your credit score at risk.
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Offers a credit limit increase in as little as six months with responsible card use.
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You can earn back your security deposit as a statement credit when you use your card responsibly — a unique feature not available on most secured cards.
Cons
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Its minimum deposit requirement could be a barrier for people who don’t want to tie up $200 for several months.
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Has a low maximum credit limit to start, which could make it more difficult to keep your credit utilization less than 30 percent.
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Charges a very high ongoing APR if you carry a balance.
Why you might want the Quicksilver Secured card
The Quicksilver Secured pairs generous rewards rates with all the perks you need to raise your credit score with convenience and flexibility.
Rewards: A boosted flat-rate for credit-builders
The Quicksilver Secured card keeps things simple, offering a flat-rate cash back rewards program that makes earning and redeeming rewards a breeze, even for first-time cardholders.
Like the unsecured version of the card, the Quicksilver Secured card earns 1.5 percent cash back on all eligible purchases and a generous boosted 5 percent 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 while building credit, as rewards on credit-building cards are rare. There’s also no limit to the amount of cash back you can earn at either of the card’s boosted rates, which is a common restriction on rewards cards at this level.
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, a check in the mail or trade it in for gift cards and online purchases. You can also set up automatic redemptions when you reach a certain cash back balance or at a specific date each year. This flexibility makes the Quicksilver Secured card an ideal choice if you’re new to credit cards and want to familiarize yourself with rewards.
Perks: Pairs credit-building with room for growth
Quicksilver Secured has a handful of unique features that could prove particularly valuable for credit-builders.
- Credit limit increases: The Quicksilver Secured gives you a clear path to a higher credit limit if you use your card responsibly. By making monthly payments on time, you may qualify for a higher limit in as little as six months. This is a standard timeframe for a credit limit increase, but plenty of competing credit-building cards offer no clear timeframe for increasing your limit.
- Earn your security deposit back: If you make card payments on time and use your card responsibly, Capital One may credit your deposit to your account.
- Prequalification: 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. Though you’ll still face a hard pull when you apply and your score will go down temporarily, you’ll at least have a good chance of coming out with a new card.
Why you might want a different secured card
Though the Capital One QuicksilverOne Secured Cash Rewards card offers a strong mix of credit-building features and rewards, it has a few drawbacks that might warrant looking at other options.
High APR: Missed payments spiral quickly into debt
This card’s ongoing APR is much higher than the current average credit card interest rate and cardholders should avoid carrying debt with it at all costs. An elevated APR like the one on this card should help you focus on paying your statement in full every billing cycle. This helps you avoid high-interest debt and lean into the generous perks this card offers. Responsible card use will help you qualify for better cards further along in your credit journey, opening the gateway to lower APRs, higher rewards, plush perks and worthwhile welcome offers.
No welcome offer: Sacrifices value but emphasizes credit-building
You’ll rarely find a welcome offer on secured cards, but they aren’t unheard of. If this is a deal-breaker for you then you’ll want to consider another secured card.
Welcome offers can add an incentive to spend, which might not be wise when you’re trying to build or rebuild credit. Unchecked spending may spiral you into credit card debt and lead to missed payments and interest charges.
Plus, secured card welcome offers are seldom worthwhile. The one exception is the Discover it® Secured Credit Card, which offers a Cashback Match™ for your first year’s cash back earnings. This bonus won’t inspire much overspending because there’s no minimum spending requirement. Discover will match the cash back you earned at the end of your first year with the card, no matter how much or how little you earned.
We tried it: Here’s what our experts say
Bankrate writer Ana Staples has experience building credit with secured cards. She recommends the Quicksilver Secured because of its combination of cash back rewards and credit-building features but cautions that it might cause some to overspend, potentially impeding their credit journey.
"I began my credit-building journey with the Capital One Platinum Secured Credit Card. It was a good experience which went as expected. I used the card sparingly and responsibly, received a credit limit increase and watched my credit score gradually increase.
Back then, the issuer wasn't offering a secured version of the Capital One Quicksilver yet. If I had to build credit now, I'd have probably gone with the Quicksilver Secured. It's very similar to the Platinum Secured, but you get 1.5 percent cash back on all eligible purchases. That's a generous offer for a card you use to build credit.
That said, you want to be honest with yourself before you go for a rewards card to build credit. Ask yourself, 'Am I absolutely sure I won't overspend chasing cash back?' The answer should be a confident yes. If it's not, a secured card without rewards might be a better choice."
— Ana Staples, Writer, Bankrate
How the Quicksilver Secured card compares to other secured cards
Though the Quicksilver Secured is a terrific secured card option for credit-builders, it’s not necessarily the best fit if you want to maximize your rewards or have more control over your deposit and credit limit. Here are some alternative options.
Annual fee
Intro offer
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 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.
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, automatically. Earn unlimited 1% cash back on all other purchases.
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.
Annual fee
Intro offer
Rewards rate
Up to 10% cash back rewards on purchases at over 40,000 retailers.
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.
Who is the Quicksilver Secured card right for?
Credit-builders and students can make the most of this card as it fast-tracks them to a better score.
Bankrate’s Take — Is the Quicksilver Secured card worth it?
If you want 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 helpful, the card’s simple rewards program, easy redemption process and user-friendly features make it a solid starter card for credit-builders and rebuilders alike.
For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
How we rated this card
Our proprietary card rating system takes into account a mix of factors when scoring credit cards for students and people building credit, including each card’s cost, APR, credit-building tools and more.
We analyzed over 50 of the most popular cards designed for students and people with no credit history, bad credit or a fair credit score and scored each based on where its key features stood in relation to others in its category.
Here are some of the key factors that gave this card its score:
Frequently asked questions
What cardholders think
Capital One Quicksilver Secured Cash Rewards Credit Card
In May 2024, Bankrate collaborated with third-party SliceMR to survey 6160 cardholders nationwide. Bankrate and Slice MR collected, averaged and presented website analytics and cardholder responses to six questions on a 5-point scale. Responses are based on individual cardholder’s product details, and therefore cannot be verified for accuracy. Users received an incentive for their feedback. User ratings are unedited and have not been reviewed or approved by credit card issuers, nor do these ratings reflect Bankrate’s own reviews of these cards.
Community Reviews
* 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.
