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2021 Review: Capital One Quicksilver Secured Cash Rewards Credit Card – Build Credit, Earn Cash Back

Updated Nov 03, 2021 | Published Oct 22, 20216 min read

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Capital One Quicksilver Secured Cash Rewards Credit Card

Min Credit Level Bad
Annual Fee $0
Regular APR 26.99% Variable
At a glance

The Quicksilver Secured card is a solid choice to help improve your credit while earning cash back. It stands out for offering 1.5% cash back, an opportunity to get a higher credit line, and an upgrade path to an unsecured card, for no annual fee.

Credit Card Insider receives compensation from advertisers whose products may be mentioned on this page. Advertiser relationships do not affect card evaluations. Advertising partners do not edit or endorse our editorial content. Content is accurate to the best of our knowledge when it's published. Learn more in our Editorial Guidelines.

Our Rating: 5 Out of 5 Stars

We give the Capital One Quicksilver Secured Cash Rewards Credit Card 5 out of 5 Stars for offering a way to build your credit and earn rewards, with favorable terms all around.

Why We Like It

  • 1.5% cash back for every purchase
  • No foreign transaction fee
  • No annual fee
  • Chance to get a higher credit line with no extra deposit
  • Chance to get your deposit back and upgrade to an unsecured card

Why It Could Be Better

Capital One Quicksilver Secured Cash Rewards Credit Card
Apply Now

securely on the issuer's website

  • Min. credit levelBad
  • Annual Fee$0
  • Purchase APR26.99% Variable

If you’ve got poor credit and have had a hard time qualifying for credit cards, a secured card might be what you need.

The Quicksilver Secured is very much like a rewards card, but it requires a security deposit to fund the credit line. This makes it more accessible if your credit isn’t in the best shape.

It’s pretty bare-bones, but there are some built-in incentives to encourage responsible use — crucial if you want to improve your credit and move on to bigger and better cards. Eventually, if you manage your card and credit well, you may graduate to an unsecured Quicksilver card, like the Capital One QuicksilverOne Cash Rewards Credit Card (Review).

Insider Advice: Getting the Most Out of Your Card

  • Make your security deposit on time: You have 35 days after card approval to make your deposit, online or by phone. You can make partial deposits, but your full required deposit must be received within 35 days of being approved.
  • Make a large enough deposit: Your credit limit will be equal to your security deposit. You can make a minimum deposit of $200, with a maximum of $1,000 to $3,000, based on your creditworthiness. We recommend making a relatively large deposit, at least $1,000 if possible, to give yourself more spending power and to help keep your credit utilization lower.
  • Be aware of your card balance: Try to avoid maxing the card out, and consider making partial payments throughout the month to reduce your card balance if you get close to your limit. This will reduce your credit utilization, which is better for your credit scores.
  • Get rewarded for paying on time, every time: The Quicksilver Secured features two perks for being a responsible cardholder (beyond the normal benefits of improved credit, showing lenders you’re trustworthy, etc.). You 1: may be considered for a higher credit line within six months, without having to make another deposit; and 2: may eventually get your deposit returned and an upgrade to an unsecured Quicksilver card. Pay your monthly bill on time consistently (with this and every other debt you have) to maximize your chances in each case.
  • Profit: Oh yeah, you’ll even earn some cash back as you work to improve your credit scores. We recommend redeeming for statement credits. But, as mentioned above, there are some other secured cards with bonus categories that’re even more rewarding.
  • A nice travel companion: All Capital One credit cards have no foreign transaction fees, making them fine options for international trips if you don’t have a dedicated travel credit card.
Read more How to Build Credit With Credit Cards: The Definitive Guide

The Rewards

Earning

Spending Rewards
  • 1.5% cash back for every purchase

Redeeming

  • Statement credits (best option)
  • Paper checks
  • Online purchases via PayPal
  • Cover a recent purchase
  • Gift cards

We suggest redeeming your cash back for statement credits, as they’re quick and easy. They’ll reduce your account balance, but they don’t count as minimum payments. Paper checks take a bit more work (do you want to deal with a check for $6.56?).

Avoid using cash back for PayPal purchases; just pay with your card to earn more rewards instead. Covering recent purchases and gift card redemptions are fickle, and may not always provide the full 1-cent-for-1-cent value.

The Benefits

  • Automatic credit line review: You could be automatically considered for a credit limit increase after six months.
  • Capital One Shopping: Install Capital One’s shopping extension, and select coupons from within your account; any applicable coupons will be used when you pay with your connected card. This free service can be used by anyone, and isn’t limited to Capital One cards.
  • Free credit scores with CreditWise: See your VantageScore 3.0 credit scores, based on your TransUnion and Experian credit reports, and monitor activity on those reports.
  • Virtual card numbers: Access virtual card numbers through Eno to make online purchases more securely.

The Terms & Fees

Purchase APR Balance Transfer APR Cash Advance APR
26.99% Variable 26.99% Variable 26.99% Variable
Annual Fee Foreign Transaction Fee
$0 None
Balance Transfer Fee Cash Advance Fee
$0 at this Transfer APR 3% of the amount of the cash advance, but not less than $10
Penalty APR Late Fee Returned Payment Fee
None Up to $40 None

The Bottom Line

With no annual fee and respectable rewards, the Capital One Quicksilver Secured Cash Rewards Credit Card makes a great choice if you’re in the market for a secured card.

There are really no downsides here, and although there are other secured cards with bigger and better rewards, there are few with offers for higher credit lines and upgrades to unsecured cards. Getting a few more percentage points of cash back is nice, but having a bigger credit limit is nice too. And the path to an unsecured card gives you a way to get your deposit back without closing the card account, a valuable feature because length of credit history accounts for 15% of a FICO score.

You can get the Quicksilver Secured knowing that you can keep it for the long haul. Even after you add more rewarding cash back cards to your arsenal, it might be handy to have a flat-rate card with no foreign transaction fees in your sock drawer.

How Do I Apply for the Quicksilver Secured Cash Rewards Card?

Follow the link below to apply with Capital One, who will usually get back to you instantly with a decision. In some cases you may need to wait a bit or provide more information.

What Credit Scores Do I Need to Qualify for the Quicksilver Secured Cash Rewards Card?

The Quicksilver Secured is designed for people with poor or limited credit, so there are relatively few barriers to entry. You won’t need any particular credit scores to qualify.

Capital One does lay out some criteria that will disqualify you, however. If you could say yes to any of the following (among other situations), you won’t qualify:

  • My monthly income (my disclosed total annual income divided by 12) doesn’t exceed my monthly rent/mortgage payment by at least $425. Or, Capital One otherwise determines that I am unable to make my monthly payments.
  • I do not have a checking or savings account.
  • I have applied for a Capital One credit card 3 or more times in the last 45 days.
  • I have a past due Capital One credit card account.
  • I am over my credit line on a Capital One credit card.
  • I have had a Capital One credit card that charged off within the past year.
  • I have a non-discharged bankruptcy (one that is still unresolved).
Capital One Quicksilver Secured Cash Rewards Credit Card
Apply Now

securely on the issuer's website

  • Min. credit levelBad
  • Annual Fee$0
  • Purchase APR26.99% Variable

Frequently Asked Questions

What’s the required security deposit for the Quicksilver Secured card?

The Quicksilver Secured Cash Rewards requires a minimum security deposit of $200, with a maximum deposit of $1,000 to $3,000. The maximum amount you can deposit will depend on your creditworthiness. Your credit limit will be equal to the amount you deposit.

Does the Quicksilver Secured card have an annual fee?

No, the Quicksilver Secured card comes with no annual fee (and no foreign transaction fee, either).

There is a Quicksilver card with an annual fee, however. The Capital One QuicksilverOne Cash Rewards Credit Card (Review) has an annual fee of $39.

Does the Quicksilver Secured card build credit?

The Quicksilver Secured card has the potential to help you build your credit, as long as you use it responsibly. If you manage this card and your other credit accounts well, you should see your credit scores rise over time, all other things being equal.

Every situation is different, and the time it takes to improve your credit scores will depend on your unique credit and financial history. But there are simple ways to climb the credit ladder, no matter where you may stand right now. Learn all about building credit with credit cards here.

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Alternatives to the Capital One Quicksilver Secured Cash Rewards Credit Card

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securely on the issuer's website

Apply Now

securely on the issuer's website

  • Min. credit levelLimited Credit History
  • Annual Fee$0
  • Purchase APR25.99% Variable
  • 5% cash back in two categories of your choice (up to $2,000 per quarter); 2% back in your choice of one everyday category
  • Security deposit ranges from $300 to $5,000
  • Credit activity is regularly reported to the three major credit bureaus
  • Choose payment due date
  • Contactless payments
  • No annual fee
Why We Picked It

If you’re looking for a more interesting credit card experience, the U.S. Bank Cash+® Visa® Secured Card could have your name on it.

You get to customize your rewards program: Take your pick of two 5% cash back categories, from a surprisingly large selection that includes some rare and valuable choices, and one 2% “everyday” category. Choose new categories every quarter, or pick the same ones again.

The security deposit has a higher potential limit than the Quicksilver Secured. Here, you’ll be asked for a minimum $300 deposit, with a maximum of $5,000. With great rewards, a potentially high deposit, and an upgrade path to the U.S. Bank Cash+™ Visa Signature® Card (Review), it’d be hard to go wrong with this card.

Rewards
Spending Rewards
  • 5% cash back in two categories of your choice (up to $2,000 spent per quarter)
  • 2% cash back in your choice of one everyday category
  • 1% cash back on all other purchases
Key Features
  • Free credit score: Check your Vantage Score 3.0 credit score whenever you’d like, based on your TransUnion credit report.
  • Upgrade path: Potential to get your deposit back and an upgrade to the U.S. Bank Cash+™ Visa Signature® Card (Review)
  • Annual fee: $0
  • Security deposit: $300 to $5,000
  • Min. credit levelBad
  • Annual Fee$0
  • Purchase APRSee Terms
Why We Picked It

Another great option, the longstanding Discover it® Secured (Review) has some of the same excellent features as the Quicksilver Secured.

You’ll earn cash back rewards here as well, but this time with certain bonus categories paired with a first-rate welcome offer. If you spend a lot at restaurants and gas stations you may prefer this card, although there are some rather low quarterly reward caps.

Discover it Secured cardholders also have the potential to get upgraded to an unsecured card; in this case, Discover says it will check your card account and credit every eight months to consider returning your deposit.

Rewards
Spending Rewards
  • 2% cash back on up to $1,000 in purchases per quarter (then 1%), at:
    • Restaurants
    • Gas Stations
  • 1% cash back on all other purchases
Introductory Bonus
  • Cashback Match: Double all cash back earned in the first year; awarded at the end of the first year
Key Features
  • Free credit score: Track your FICO Score 8 over time, based on your TransUnion credit report.
  • Social Security number alerts: Get notified if your SSN is found on any thousands of risky websites.
  • Inquiry and new account alerts: Alerts if any new credit inquiries or accounts show up on your Experian credit report
  • No foreign transaction fee
  • Annual fee: $0
  • Security deposit: $200–$2,500
Apply Now

securely on the issuer's website

Apply Now

securely on the issuer's website

  • Min. credit levelBad
  • Annual Fee$0
  • Purchase APR23.99% Variable
  • 3% cash back in the category of your choice: gas, online shopping, dining, travel, drug stores, home improvement/furnishings
  • 2% cash back at grocery stores and wholesale clubs
  • After you spend $2,500 in the 3% and 2% categories, you’ll earn 1% cash back until the quarter ends
  • Security deposit between $300-$4,900 is required to open your account upon approval
  • Bank of America will periodically review your account and return your security deposit if you qualify
  • 3% foreign transaction fee
  • No annual fee
Why We Picked It

The Bank of America® Customized Cash Rewards Secured Card lives up to its name: Choose one 3% cash back category, from a nice selection that includes online shopping, dining, and travel. Gas is the default category.

There are some 2% categories as well, rounding out the card and making it much like its unsecured cousin (the Bank of America® Customized Cash Rewards Card (Review)).

Other than that it’s pretty simple. Make your security deposit of $300 to $4,900, with a maximum based on your creditworthiness, and you’ll be ready to go.

Rewards
Spending Rewards
  • 3% cash back in one category of your choice:
    • Gas
    • Online shopping
    • Dining
    • Travel
    • Drug stores
    • Home improvement/furnishings
  • 2% cash back at:
    • Grocery stores
    • Wholesale clubs
  • 1% cash back on all other purchases
  • 3% and 2% rewards only up to $2,500 spent per quarter, then 1% cash back
Key Features
  • Free credit score: Check your FICO Score 8 for free, based on your TransUnion credit report.
  • Annual fee: $0
  • Security deposit: $300–$4,900
Apply Now

securely on the issuer's website

  • Min. credit levelLimited Credit History
  • Annual Fee$0
  • Purchase APR23.99% Variable
  • Unlimited 1.5% cash back on all purchases
  • Minimum refundable security deposit of $300 is required to open your account
  • Bank of America will periodically review your account, and you may qualify to have your security deposit returned
  • Access to one of your FICO scores for free
  • No annual fee
Why We Picked It

The Bank of America® Unlimited Cash Rewards Secured Credit Card is very much like the Quicksilver Secured; the main differences are the card issuer and the security deposit limits.

With the Bank of America card, you’ll be required to make a minimum deposit of $300, with a maximum of up to $4,900 that again depends on your creditworthiness.

There’s no program to increase your credit limit later on here, but BofA, like Capital One, will periodically review your card account and credit to see if you qualify to get your deposit back.

Rewards
Spending Rewards
  • 1.5% cash back on all purchases
Key Features
  • Free FICO credit score: Keep tabs on your credit by checking your FICO Score 8 for free whenever you’d like, based on your Experian credit report.
  • Upgrade path: Bank of America will periodically review your account, and you may qualify to have your deposit returned.
  • Security deposit: $300 to $4,900
  • Annual fee: $0
Capital One Quicksilver Secured Cash Rewards Credit Card
Apply Now

securely on the issuer's website

  • Min. credit levelBad
  • Annual Fee$0
  • Purchase APR26.99% Variable

What do you think of the Capital One Quicksilver Cash Rewards Secured card? What’s your favorite card for building credit?

Written by

Brendan Harkness

Brendan has been writing about personal finance for over eight years, and is now taking on the challenge of bringing high-quality credit education to the masses. He makes sure that Credit Card Insider is covering the most important credit topics transparently and precisely, and that we have up-to-date reviews of credit cards so you can find cards that are right for you.

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The responses below are not provided or commissioned by bank advertisers. Responses have not been reviewed, approved or otherwise endorsed by bank advertisers. It is not the bank advertisers' responsibility to ensure all posts are accurate and/or questions are answered.

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