Capital One Quicksilver Secured Credit Card Review: Earn 1.5% Cashback on Every Purchase While Building Credit

Capital One Quicksilver Secured Card Overview

The Capital One Quicksilver Secured Cash Rewards Credit Card is an excellent choice for individuals with limited or poor credit. Unlike many secured cards that focus solely on building credit, this card also offers a 1.5% cashback on every purchase. With no annual fee and no foreign transaction fees (see rates and fees), it provides valuable credit-building opportunities. Card Rating: ⭐⭐⭐½

*Card rating reflects the opinion of TPG’s editorial team and is not influenced by the card issuer.

A less-than-perfect credit score doesn’t mean you’re shut out of credit card applications. Secured credit cards offer a practical solution for individuals looking to build or repair their credit with a slightly different process.

Instead of a typical credit line, you'll need to make a refundable cash deposit that sets your credit limit. From there, the secured card functions just like a regular credit card, with a much simpler approval process.

The Capital One Quicksilver Secured is arguably one of the best secured cards available today. It comes with no annual fee and requires just a $200 minimum refundable security deposit (see rates and fees). What sets it apart is the ability to earn 1.5% cashback on every purchase — a great return even when compared to traditional credit cards.

Let's dive into the full details.

Capital One Quicksilver Secured: Pros and Cons

Capital One Quicksilver Secured Sign-Up Bonus

Unfortunately, this card does not include a sign-up bonus.

Capital One Quicksilver Secured Perks

While secured credit cards are usually limited in perks, the Quicksilver Secured offers a few noteworthy benefits that stand out:

• No foreign transaction fees: When using your Quicksilver Secured card abroad, you won’t face any foreign transaction fees.
• Automatic credit line increases: Based on your payment history and credit profile, you may automatically receive a credit line increase without having to add more as a security deposit.
• Free credit score monitoring: Capital One’s CreditWise tool lets you check your credit score at no cost and without impacting your score.
• Access to digital tools: Features like flexible payment dates and AutoPay ensure your payments are made on time.
• No annual fee: Enjoy all these benefits without paying an annual fee.

You'll need to make an initial deposit of at least $200, which will determine your credit limit. The more you deposit, the higher your available credit line will be.

If you require a higher credit limit, you can add an additional deposit within 35 days of activating your card. This allows you to increase your credit line up to the maximum limit assigned at approval, which typically ranges from $1,000 to $3,000, depending on your creditworthiness.

By using your card responsibly, you may be able to 'graduate' to the unsecured Capital One Quicksilver Cash Rewards Credit Card. This means you’ll get your deposit back, but all other terms and features of the card will remain the same.

Earning rewards with the Capital One Quicksilver Secured

This card lets you earn a flat 1.5% cash back on every purchase, with no cap on your earnings.

While this rate is quite good, there are no bonus categories to boost your rewards.

How to redeem rewards with the Capital One Quicksilver Secured

You can redeem your rewards for statement credits, gift cards, or use them to offset eligible purchases.

While you won't earn Capital One miles or have access to their travel transfer partners, you'll enjoy more flexibility with your cash-back rewards.

What other cards rival the Capital One Quicksilver Secured?

If you're focused on building your credit, there are several alternatives that might suit you better than the Capital One Quicksilver Secured.

• If you want to earn bonus rewards while improving your credit: The Discover It Secured Credit Card offers 2% cash back at gas stations and restaurants (up to $1,000 in combined purchases each quarter), plus unlimited 1% cash back on all other purchases.
• If you already have a solid credit score: The Citi Double Cash® Card (see rates and fees) earns unlimited 2% cash back on every purchase (1% when you buy, and 1% when you pay). Its simplicity makes it a top choice for starter reward cards. For more information, check out our full review of the Citi Double Cash.

The information for the Discover It Secured Credit Card has been gathered independently by Dinogo. The card details on this page have not been reviewed or provided by the card issuer.

For more options, take a look at our curated lists of the best secured credit cards and the best starter credit cards.

Is the Capital One Quicksilver Secured card a good choice?

The Capital One Quicksilver Secured offers a path to financial growth by encouraging timely and full bill payments. Over time, with responsible use, you can upgrade to the unsecured Quicksilver card.

Key Takeaway

While it lacks a welcome bonus (which is typical for secured cards), the 1.5% rewards rate, no foreign transaction fees, and no annual fee make this card a solid choice for those looking for a fresh start or a dependable starting point.

This secured credit card is an excellent tool to help you rebuild your credit.

Find out more: Capital One Quicksilver Secured