Capital One Quicksilver Secured credit card review: Earn 1.5% on all purchases and build credit
Editor's Note
Capital One Quicksilver Secured overview
The Capital One Quicksilver Secured Cash Rewards Credit Card is a solid option out there for those with poor or limited credit. While most secured card options are intended to build credit and not earn rewards, the Quicksilver Secured is a unique blend of both — offering a 1.5% rewards rate on all purchases. With no annual fee and no foreign transaction fees, this card opens many doors for those who want access to credit. Card rating*: ⭐⭐⭐½
*Card rating is based on the opinion of TPG's editors and is not influenced by the card issuer.
Just because your credit score isn't outstanding doesn't mean you're banned from applying for credit cards altogether. Secured credit cards are a great alternative that can help you build or repair your credit through a slightly different approach.
Rather than a traditional credit line, you'll have to put down a fully refundable cash deposit that determines your credit limit. From there, a secured credit card will act just like a traditional credit card — but with a much easier approval process.
The Capital One Quicksilver Secured is one of the best — if not the best — secured card options on the market. There's no annual fee, and a minimum of a $200 cash security deposit is required. But perhaps the best part of this card is the ability to earn 1.5% cash back on all purchases, which is a fantastic earning rate even when considering traditional credit cards.
Let's take a look at all of the details.
Capital One Quicksilver Secured pros and cons
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Capital One Quicksilver Secured welcome offer
Unfortunately, this card doesn't come with a welcome offer.
Capital One Quicksilver Secured benefits
While secured cards are generally light on benefits, the Quicksilver Secured comes with a decent number of perks worth mentioning:
- No foreign transaction fees: When traveling abroad and paying with your Quicksilver Secured, you won't incur any foreign transaction fees
- Automatic credit line reviews: Based on your payment history and creditworthiness, you may automatically receive a credit line bump — without putting more down as a security deposit.
- Monitor credit score: Using Capital One's CreditWise feature, you can check your credit score for free and without hurting your score.
- Access to digital features: You can implement a flexible payment date and AutoPay to ensure that you pay your statement on time.
- No annual fee: All of these great benefits for no annual fee
Remember that you'll have to put down a minimum of $200 as your security deposit (which also determines your credit line), so the more you put down, the more credit you'll have access to.
If you need a larger credit line, you can put down an additional deposit within 35 days of being approved and activating your card. You can raise your initial credit line up to your maximum limit — which is assigned upon card approval — and may range from $1,000 to $3,000, depending on your creditworthiness.
Finally, you may be able to "graduate" to the Capital One Quicksilver Cash Rewards Credit Card — the unsecured version — by using the card responsibly. That means you'll get your security deposit back, but all other card terms and features will stay the same.
Earning rewards with the Capital One Quicksilver Secured
With this card, you'll earn a straightforward 1.5% back on all purchases, with no limit on how much you can earn.
That's a decent earning rate, although you won't enjoy any bonus categories.
Redeeming rewards with the Capital One Quicksilver Secured
You can redeem your rewards via a statement credit, buy gift cards or reimburse yourself for purchases.
You won't be earning Capital One miles, so you won't be able to utilize Capital One's travel transfer partners, but you will have a bit of flexibility with your cash-back rewards.
Which cards compete with the Capital One Quicksilver Secured?
If you're looking to build your credit, you have several options; one of these might be a better fit than the Capital One Quicksilver Secured.
- If you want to earn bonus rewards while building credit: The Discover It Secured Credit Card earns 2% cash back at gas stations and restaurants (up to $1,000 in combined purchases each quarter) and unlimited 1% cash back on all other purchases. For more details, see our full review of the Discover it Secured Credit Card.
- If you already have a good credit score: The Citi Double Cash® Card (see rates and fees) earns unlimited 2% cash back on all purchases (1% when you buy, and 1% as you pay). Its simplicity makes it one of our favorite starter reward cards. For more details, see our full review of the Citi Double Cash.
- If you prefer a welcome offer: The Wells Fargo Active Cash® Card (see rates and fees) gives cardholders unlimited 2% cash rewards on purchases and a $200 cash rewards bonus after spending $500 on purchases in the first three months. For more details, see our full review of the Wells Fargo Active Cash.
The information for the Discover It Secured Credit Card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
For additional options, check out our lists of the best secured credit cards and the best starter credit cards.
Related: How to earn points and miles with a low credit score
Is the Capital One Quicksilver Secured worth it?
The Capital One Quicksilver Secured provides a pathway to financial success by paying your bills on time and in full. After consistent use, you can upgrade to the unsecured Quicksilver card.
Bottom line
Although there's no welcome bonus (uncommon for secured cards in the first place), the 1.5% rewards rate, no foreign transaction fees , and no annual fee are what make this card a viable option for those who need a clean break or someplace to start.
It's a great secured credit card that can put you back on the road to creditworthiness.
Learn more: Capital One Quicksilver Secured