Capital One Quicksilver Secured Credit Card: Earn 1.5% Cash Back

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Getting approved for a credit card with a limited credit history or if you have blemishes on your credit score can be a tricky proposition, particularly if you’re looking for a card that earns rewards. Nearly all of the best rewards credit cards require a good or excellent credit score to qualify, and cards geared to those with average or poor credit typically don’t earn points, miles, or cash back.

There’s now a new option to consider if you’re looking to build (or rebuild) your credit, and it earns 1.5% cash back on all purchases with no limits. The Capital One Quicksilver Secured Cash Rewards Credit Card only requires a fair credit score, defined by Capital One as those with limited credit history (less than three years) including students, people new to the US, or authorized users on someone else’s credit card — or those who have defaulted on a loan in the past five years.

Read more: 5 steps you should take when applying for a credit card

The downside is that it’s a secured credit card, which means you’ll have to put down a security deposit equal to the initial credit line you’ll be given. That said, you can get started with a deposit as low as $200 (though you can deposit more than the minimum, up to a certain limit). And with responsible use over time, you could have the opportunity to graduate to an unsecured Quicksilver card and get your deposit back.

Capital One Quicksilver Secured Rewards card details

Regular APR

26.99% Variable

  • Pros & Cons
  • Details

  • Pros
    • Earns 1.5% cash back on all purchases with no limits
    • You can get approved for this card with limited credit
    • Ability to increase credit line and potential to improve credit score with responsible use
    • No welcome bonus
    • Because it’s a secured credit card, you’ll have to put down a security deposit for your initial credit line
    • High APR if you carry a balance
    • No annual or hidden fees, and you can earn unlimited 1.5% cash back. See if you’re approved in seconds
    • Building your credit? Using a card like this responsibly could help
    • Put down a refundable $200 security deposit to get a $200 initial credit line
    • You could earn back your security deposit as a statement credit when you use your card responsibly, like making payments on time
    • Be automatically considered for a higher credit line in as little as 6 months with no additional deposit needed
    • Enjoy peace of mind with $0 Fraud Liability so that you won’t be responsible for unauthorized charges
    • Monitor your credit with CreditWise from Capital One. It’s free for everyone and checking your credit does not hurt your credit score
    • Earn unlimited 1.5% cash back on every purchase, everywhere. No rotating categories or limits to how much you can earn. It’s that simple

    The Capital One Quicksilver Secured Cash Rewards Credit Card doesn’t offer a welcome bonus, but it earns a respectable 1.5% cash back on all purchases with no limits to what you can earn. There’s no annual fee and, like other Capital One credit cards, it doesn’t add foreign transaction fees.

    Read more: The best cash-back credit cards

    If you’re approved for the Capital One Quicksilver Secured Cash Rewards Credit Card, you’ll need to make a $200 minimum initial deposit to receive a $200 credit line — but depending on your creditworthiness you could get approved for a higher credit line with a larger deposit. Then, after as little as six months of on-time payments, Capital One will automatically consider you for a higher credit limit. 

    When you’re initially approved, you’ll have up to 35 days to fund your account with the initial security deposit. If you can’t pay all at once, that’s OK — Capital One will allow you to make partial deposits (minimum $20) until you meet the required amount. 

    You’ll get your deposit back either by using the card responsibly over time (such as by making on-time payments) or when you close the account. All of your account activity is reported to the three main credit bureaus, so by demonstrating responsible use you can improve your credit score and eventually qualify for other forms of credit.

    Read more: 5 ways opening a credit card and using it responsibly can boost your credit score

    The Capital One Quicksilver Secured Cash Rewards Credit Card looks exactly like other Capital One Quicksilver cards — it doesn’t have the word “secured” written on it, and you can redeem your cash back rewards the exact same way. There’s no minimum redemption amount for cash back, and you can receive your rewards in the form of a statement credit or check.

    One caveat with the Capital One Quicksilver Secured Cash Rewards Credit Card: If you carry a balance, you could get stung by high interest charges. The card has a 26.99% Variable APR, so be sure to pay off your account in full each month to avoid racking up credit card debt.

    As with most secured credit cards, the Capital One Quicksilver Secured Cash Rewards Credit Card doesn’t come with a wide range of benefits. However, cardholders get access to Capital One’s Credit Wise credit monitoring service and can access features like card lock and emergency card replacement.

    Before you decide on the Capital One Quicksilver Secured Cash Rewards Credit Card, be sure to read our guides that can help you choose the best credit card if you’re just getting started:

    Featured credit cards from our partners

    Featured Reward

    125,000 bonus points and 1 free night award (value up to 50,000 points) after spending $5,000 on purchases in the first 3 months from account opening

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    $200 after spending $500 on purchases in the first three months from account opening

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