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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.

 /  10 min
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Snapshot

4.0

Bankrate rating
Info
Rating: 4 stars out of 5

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.

Best starter rewards card

Capital One Quicksilver Secured Cash Rewards Credit Card

Apply now Lock
on Capital One's secure site
  • Cost of membership
    Rating: 4 stars out of 5
    4 / 5
    Ease of building credit
    Rating: 2 stars out of 5
    2 / 5
    APR
    Rating: 2 stars out of 5
    2 / 5
    Features
    Rating: 5 stars out of 5
    5 / 5
No Credit History
Info
Recommended Credit

N/A

Intro offer

Info

1.5% - 5%

Rewards Rate

Info

Annual fee

Regular APR

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 charges no annual fee (See Rates & Fees) 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.

  • Credit Card Cash Back

    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

  • Credit Card Search

    Rates and fees

    • APR:   30.74% (Variable)
    • Balance transfer fee: 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 Fair

    Credit-building features

    • Prequalification
    • Credit limit increases
    • Earn back your security deposit

    Expert Appraisal: Good
    See our expert analysis

  • Congrats

    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

  • Checkmark

    Offers boosted flat-rate rewards on eligible purchases, making it a good option for low-maintenance cardholders.

  • Checkmark

    Prequalification gives you a sense of approval odds before you apply and put your credit score at risk.

  • Checkmark

    Offers a credit limit increase in as little as six months with responsible card use.

  • Checkmark

    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

  • Its minimum deposit requirement could be a barrier for people who don’t want to tie up $200 for several months.

  • Has a low maximum credit limit to start, which could make it more difficult to keep your credit utilization less than 30 percent.

  • 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.

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. 

Image of Capital One Quicksilver Secured Cash Rewards Credit Card
Bankrate Score
See Rates & Fees , Terms Apply
Apply now Lock
on Capital One's secure site

Annual fee

$0

Intro offer

N/A

Rewards rate

1.5% - 5%
Info

Recommended Credit Score

No Credit History
Info
Image of Discover it® Secured Credit Card
Bankrate Score
See Rates & Fees , Terms Apply
Apply now Lock
on Discover's secure site

Annual fee

$0

Intro offer

Cashback Match™
Info

Rewards rate

1% - 2%
Info

Recommended Credit Score

No Credit History
Info
Image of OpenSky® Secured Visa® Credit Card
Bankrate Score
Apply now Lock
on Capital Bank's secure site

Annual fee

$35

Intro offer

N/A

Rewards rate

N/A

Recommended Credit Score

No Credit History
Info

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 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.

How we rated this card

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Perks evaluated

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

Written by
Brendan Dyer
Associate Editor, Credit Cards

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 TV news station contracted by Verizon FiOS1 News. As a national service volunteer, Brendan exercised a passion for helping underserved communities and demographics through direct, community service. He constantly seeks to apply his expertise as a journalist to the field of personal finance with the goal of helping people navigate the complexities of the credit card industry.

Edited by Editor, Credit cards
Reviewed by Writer, Credit Cards

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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.