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Capital One Quicksilver Secured Cash Rewards Credit Card Review
February 6, 2025
The Capital One Quicksilver Secured Cash Rewards Credit Card stands out in the secured credit card market by combining credit-building features with cash back rewards. This comprehensive review will help you determine if it's the right choice for your financial journey.
What Is the Capital One Quicksilver Secured Cash Rewards Credit Card?
The Capital One Quicksilver Secured Cash Rewards Credit Card is a unique secured credit card that helps you build credit while earning rewards. Unlike many secured cards, it offers a competitive 1.5% unlimited cash back on all purchases, plus enhanced rewards through Capital One Travel. The card requires a refundable security deposit, which serves as collateral and determines your initial credit line.
Capital One Quicksilver Secured Cash Rewards Credit Card Pros & Cons
Pros:
- Unlimited 1.5% cash back on every purchase
- 5% cash back on hotels and rental cars booked through Capital One Travel
- $0 annual fee
- No foreign transaction fees
- Regular credit bureau reporting
- Path to unsecured card upgrade
- Rewards don't expire
- Free credit score monitoring
- $0 fraud liability protection
Cons:
- Requires a refundable security deposit
- Higher variable APR compared to traditional cards
- No intro APR offer
- No welcome bonus
- Limited credit line based on deposit amount
Who Is the Capital One Quicksilver Secured Cash Rewards Credit Card For?
This card is ideal for consumers with limited credit history or those rebuilding their credit. It's particularly suitable for:
- Individuals with bad credit looking to improve their credit score
- People with limited credit history seeking to establish credit
- Those who want to earn rewards while building credit
- Frequent travelers who benefit from no foreign transaction fees
- Consumers who prefer straightforward rewards programs
The basic requirements include having a steady income and meeting Capital One's credit levels criteria. The application process is straightforward, focusing on your ability to provide the security deposit and maintain responsible card use.
Comparing the Capital One Quicksilver Secured With Other Credit Cards
When considering the Capital One Quicksilver Secured, it's helpful to compare it with other popular options in the credit builder card category:
Chime Credit Builder Secured Visa® Credit Card:
- Annual fee: $0
- Security deposit: Flexible, based on the amount transferred to Credit Builder account
- Key features: No credit check to apply, reports to all three major credit bureaus
- Standout feature: No minimum security deposit required
Capital One Quicksilver Secured Cash Rewards Credit Card (rate & fees):
- Annual fee: $0
- Security deposit: Minimum $200, which becomes your credit limit
- Key features: 1.5% cash back on most purchases, automatic credit line reviews
- Standout feature: Earn rewards while building credit
Current Build Visa® Credit Card:
- Annual fee: $0
- Security deposit: Flexible, based on the amount transferred to Build account
- Key features: No credit check required, reports to all three major credit bureaus
- Standout feature: Linked to Current banking app for easy fund transfers
Each card offers unique benefits tailored to different spending habits and preferences. Consider your personal financial goals when choosing the best card for you.
Key Takeaways:
- Capital One Quicksilver Secured excels in helping build credit while earning rewards
- Chime Credit Builder offers flexibility with no minimum deposit
- Capital One Quicksilver Secured provides cash back rewards
- Current Build integrates with banking app for convenient use
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Consider Using Kudos
While the Capital One Quicksilver Secured offers excellent rewards, you can maximize your earnings by using Kudos, a free AI-powered browser extension. Kudos helps you identify which credit card to use for each purchase, ensuring you always get the highest possible rewards. They're currently offering $20 back after your first eligible purchase — just sign-up for free with code "GET20" and make a purchase at a Boost merchant.
Our Expert Takeaway
The Capital One Quicksilver Secured Cash Rewards Credit Card offers a compelling combination of credit-building features and rewards. With responsible card use, regular on-time payments, and credit score monitoring, it provides a clear path to improving your credit standing and potentially graduating to an unsecured card.
Capital One Quicksilver Secured Cash Rewards Credit Card FAQ
What is the minimum security deposit required?
The minimum security deposit is $200, which becomes your initial credit line.
How does the unsecured card upgrade process work?
Capital One automatically reviews your account for potential upgrade to an unsecured card based on your payment history and overall credit standing.
Can I increase my credit limit?
Yes, through additional deposits initially and potential automatic credit limit increases based on payment history.
What happens to my security deposit if I close my account?
Your security deposit is fully refundable upon account closure, provided your balance is paid in full.
How quickly will this card help build credit?
With responsible use and on-time payments, you may see credit score improvements within several months as Capital One reports to all three major credit bureaus.
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Editorial Disclosure: Opinions expressed here are those of Kudos alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
