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Snapshot: You can secure a small credit limit with a deposit ($200 minimum) and don’t need great credit to get approved for this card. You also earn 1.5% cash back on your purchases without paying an annual fee, making it a good option for those looking to rebuild their credit.
Basic Features
- Ongoing APR: reg_apr,reg_apr_type depending on creditworthiness
- Annual fee: annual_fees
- Credit needed: Scores in the credit_score_needed range
Additional Details
- 1.5% cash back on every purchase
- Possible upgrade to a typical unsecured Quicksilver card
- Possible credit line increase after 6 months
- Minimum deposit of $200 required
- Fast review process – find out if you’ve been approved within minutes
Ready to learn how to apply?
| Pros | Cons |
| 1.5% cash back on all purchases | Higher APR |
| No annual fee | |
| Upgrade path to an unsecured credit card | |
| You don’t need great credit to be approved |
Table of Contents
- Full Review of Capital One Quicksilver Secured Cash Rewards Credit Card
- What You’ll Like About this Card
- The Drawbacks
- Is It Worth It?
- FAQ
Full Review of Capital One Quicksilver Secured Cash Rewards Credit Card
As far as secured credit cards go, there are so many reasons to love this one. When evaluating secured credit cards, most of the time you want to consider the following features:
- Does it have an upgrade path? (Can I use a history of on-time payments with this card to qualify for another credit card later on?)
- Does it have an annual fee?
- Does it report to all three credit bureaus?
As far as the Capital One Quicksilver Secured Cash Rewards Credit Card goes, it combines the best features of a secured credit card – upgrade path, no annual fee, credit reporting for building credit – with the added benefit of 1.5% cash back on all purchases. See how this card compares to other secured credit cards here.
If you’re looking to build your credit while earning cash back rewards on your purchases, provided you make payments on time (this card does have a relatively high APR), this is a fantastic option.
What You’ll Like About This Card
Earning Cash Back
This card lets you earn cash back on most purchases. For every $100 you spend, you get $1.50 in cash back rewards that you can redeem as a statement credit, apply to recent purchases, gift cards, or in other ways (Capital One has a lot of flexibility about how you can redeem your cash back).
Provided you pay off your statement balance every month to avoid interest, you can earn a decent amount of extra cash throughout the year. And with a consistent cash back rate on all purchases, you don’t have to game the system to maximize your rewards.
No Annual Fee
Sometimes the amount you earn in cash back gets wiped out by an annual fee. That’s not the case with this card, because there isn’t an annual fee.
You Don’t Need Great Credit
A secured credit card acts a lot like a debit card. Your initial deposit “secures” your line of credit, so it’s like your spending money you already have rather than borrowing from a financial institution. This means that rather than extending your finances with a line of credit, the main benefit of a secured card is to report good credit behavior to the credit bureaus.
If you’re looking for a cash back rewards card, but are worried about being approved for a typical “unsecured” card, no worries – a secured card is the right path for you. You only need fair credit to possibly be approved for this card, which makes it good for building or rebuilding your credit.
Ready to start earning cash back on your purchases?
The Drawbacks
You Have to Pay a Deposit
To successfully apply for and open this card, you’ll have to come up with a deposit that secures your credit limit. That means you need to have a little cash set aside to start building credit with this card. Luckily, deposits start as low as $200.
Higher APR
A reg_apr,reg_apr_type is on the higher end for a secured card (you can compare against a longer list of secured credit cards here). But as long as you pay down your statement balance, you can avoid this altogether.
Is It Worth It?
Lack of annual fee, cash back rewards, upgrade path and an easy application process all make as the Capital One Quicksilver Secured Cash Rewards Credit Card a great choice. If you haven’t yet established credit or you’re trying to rebuild credit after some mishaps or a bankruptcy, this card may be worth considering.
Ready to start earning cash back on your purchases?
Frequently Asked Questions
What Are the Credit Limits for Capital One Quicksilver Secured Cash Rewards Credit Card (Minimum and Maximum)?
Capital One doesn’t publish its maximum credit limit for this card, but the minimum deposit requirement is $200. Your credit limit depends on your deposit, your credit score and your ability to make payments. Your income may be a factor in determining your credit limit.
How Soon Can I Increase My Credit Limit After Being Approved for a Capital One Quicksilver Secured Cash Rewards Credit Card?
You typically have to demonstrate strong account management and pay your bills on time for at least 6 months before you can request a credit increase or receive offers for an upgraded card.
How Good is a Capital One Quicksilver Secured Cash Rewards Credit Card for Building Credit?
This is an excellent card for building credit (it was designed for that purpose). However, you do have to keep up your end by using your card responsibly and making on-time payments every billing cycle. Even though this is a secured credit card, it’s still possible to rack up debt and hurt your credit if you don’t pay your statements.
Ready to start earning cash back on your purchases?
Advertiser Disclosure: Credit.com has partnered with CardRatings for our coverage of credit card products. Credit.com and CardRatings may receive a commission from card issuers.