Capital One Quicksilver Secured Cash Rewards Review: Build Credit and Earn Cash Back

The Capital One Quicksilver Secured Cash Rewards Credit Card is tailored for individuals building or rebuilding credit, offering a generous 1.5% cash back on all purchases and the opportunity to upgrade to an unsecured card. While the initial security deposit may deter some, the card's straightforward rewards and credit-building potential make it a strong choice for those seeking simplicity and steady progress in their credit journey.

The Capital One Quicksilver Secured Cash Rewards Card is a standout choice for those looking to establish or repair their credit. You may qualify for this card with limited or bad credit, and all purchases with the card earn you an unlimited 1.5% cash back.

Beyond cash back, this card offers the potential to transition to an unsecured card, a feature that can be particularly appealing as your creditworthiness improves. Timely payments are reported to the three major credit bureaus, aiding the credit-building process. Additionally, cardholders can enjoy benefits like no annual fee, $0 fraud liability and complimentary credit monitoring tools.

However, the card's $200 security deposit — and the need to pay for it through a traditional bank — might be a barrier for some. If you’re struggling for cash or are unbanked, you may want a more flexible secured card.

>> MORE: MoneyGeek's Best Secured Credit Cards

The Capital One Quicksilver Secured Cash Rewards Card is a great pick for earning rewards while building credit. You earn unlimited 1.5% cash back on all purchases, with no categories to track or activate. Additionally, booking hotels and rental cars through Capital One Travel yields an even more lucrative 5% cash back.

You can redeem your cash back at any time, for any amount, and you can choose between receiving it in statement credit, check, gift cards, travel purchases and more. They won’t expire as long as the account remains open. You can also transfer the cash back you earn with this card with other Capital One cards, but eligibility varies per card.

The Capital One Quicksilver Secured Cash Rewards Card is an excellent pick for credit builders. It offers easy cash back and user-friendly features.

Credit Building: You can qualify for the Quicksilver Secured Cash Rewards card with bad or limited credit. Once you have it, the card reports to the three major credit bureaus, helping you establish or rebuild your credit history through responsible use.

Cash Back Rewards: The card lets you earn an unlimited 1.5% cash back on every purchase, which is equal to what you can get with the card’s unsecured version, the Capital One Quicksilver Cash Rewards Credit Card. You also get 5% cash back on hotels and rental cars booked via Capital One Travel. Although earning cash back may not be your priority, it’s a great perk that helps you save money as you work on your credit.

No Annual Fee: You can enjoy this card's perks without having to worry about paying an annual fee.

Upgrade Potential: By using your card responsibly, you could be automatically considered for a higher credit line in as little as six months, with no additional deposit needed. A higher limit is helpful if you want to keep a healthy credit utilization ratio. Likewise, you could also become eligible for the card’s unsecured version (which includes features similar to this card) and earn back your security deposit.

Before you apply for the Capital One Quicksilver Secured Cash Rewards, consider these drawbacks.

High Security Deposit Required: The card requires a $200 security deposit. Although it’s refundable, it can be a little steep, especially if you’re strapped for cash. If saving up for this deposit is difficult for you, there are more flexible secured cards, such as the Capital One Platinum Secured Credit Card, whose security deposit starts at $49.

Requires Bank Account: You’ll need a bank account to transfer the security deposit to Capital One. If this is a problem for you, the OpenSky® Secured Visa® Credit Card allows you to transfer the security deposit via Western Union or a money order.

Still unsure about the Capital One Quicksilver Secured Cash Rewards? We compare it with other secured cards to help you decide if it’s right for you.

The Capital One Quicksilver Secured Cash Rewards Card is a top choice for those with limited or bad credit looking to rebuild while earning rewards.

If you can manage the upfront security deposit, this card offers a straightforward 1.5% cash back on all purchases, which can help you save money while improving your credit. Additionally, with no annual fee and the potential to upgrade to an unsecured card, it's a solid choice for credit newbies and students building credit.

However, alternatives are available if you're looking for a secured card with a more flexible security deposit.

In evaluating the Capital One Quicksilver Secured Cash Rewards Credit Card, we considered a range of features relevant to cash back cardholders. Out of 60 cards, we measured this card's performance against our scoring system, which prioritizes the effective reward rate (50%) as the most significant factor.

Here's how we weighted each feature, from highest to lowest percentage, and what we looked for in a perfect score:

• 50% Effective Reward Rate: High cash back value per dollar.
• 10% Annual Fee: No cost for card ownership.
• 10% Offer ROI: Excellent introductory offer value.
• 5% Intro Purchase: Long-term 0% APR on purchases.
• 5% Recommended Credit: Broad credit score accessibility.
• 5% Issuer Satisfaction: Exceptional customer service.
• 5% Penalties: No penalty rates or fees.
• 5% Regular APR: Low ongoing interest rate.
• 5% Foreign Transaction: No fees on international transactions.

For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.