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Capital One Quicksilver Secured Cash Rewards Card Review: A Secured Card With No Annual Fee and Unlimited Rewards

Review Updated
Natasha Etzel
Author: Natasha Etzel
Natasha Etzel
Natasha Etzel
Writer

Natasha has been a freelance writer since 2015. She specializes in credit card and credit card rewards content. When not busy writing, she's either dreaming up her next credit card rewards redemption or traveling the globe. Her goal is to encourage more people to experience the world around them while making smart financial choices.

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Nathan Alderman
Fact Checked: Nathan Alderman
Nathan Alderman
Nathan Alderman
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Nathan Alderman has been a full-time Motley Fool employee since 2005, making errors his arch-enemies in a variety of roles including a six-year stint as the dedicated fact-checker for The Motley Fool's premium newsletter services. As Motley Fool Money's Compliance Lead, he makes sure that all the site's information is accurate and up to date, which ensures we always steer readers right and keeps various financial partners happy. A graduate of Northwestern University's Medill School of Journalism, Nathan spends his spare time volunteering for civic causes, writing and podcasting for fun, adoring his wife, and wrangling his two very large young children.

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The Capital One Quicksilver Secured Cash Rewards Credit Card is a solid secured rewards card for consumers looking to build or improve credit. It has no annual fee, no foreign transaction fees, and earns an unlimited 1.5% cash back. Read our Capital One Quicksilver Secured Cash Rewards Credit Card review to learn more and decide if this is the right secured card for you.

Ratings Methodology

Capital One Quicksilver Secured Cash Rewards Credit Card

Apply Now for Capital One Quicksilver Secured Cash Rewards Credit Card

On Capital One's Secure Website.

Rates & Fees External Link Icon

Capital One Quicksilver Secured Cash Rewards Credit Card
Rating image, 5.00 out of 5 stars.
5.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Rating image, 5.00 out of 5 stars.
5.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
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Credit Score: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
Recommended Credit Score required for this offer is: New/Rebuilding Under(579)
Apply Now for Capital One Quicksilver Secured Cash Rewards Credit Card

On Capital One's Secure Website.

Rates & Fees External Link Icon

Credit Score Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

New/Rebuilding Under(579)

Intro APR

Purchases: N/A

Balance Transfers: N/A

Regular APR

29.99% (Variable)

Rewards Circle with letter I in it. Earn unlimited 1.5% cash back on every purchase, every day. Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply.

1.5%-5% cash back

Annual Fee

$0

Welcome Offer Circle with letter I in it. N/A

N/A

  • This no-annual-fee credit card earns an unlimited 1.5% cash back on all purchases, and offers free credit monitoring tools -- making it a solid secured credit card option for consumers who want to earn rewards while building or rebuilding their credit.

    • No annual fee
    • Unlimited cash back
    • No foreign transaction fees
    • Includes a free credit monitoring tool
    • Potential to get your security deposit back as a statement credit
    • Requires a security deposit
    • No sign-up bonus
    • High variable APR
    • No annual or hidden fees, and you can earn unlimited 1.5% cash back on every purchase, every day. See if you're approved in seconds
    • Put down a refundable $200 security deposit to get a $200 initial credit line
    • Building your credit? Using a card like this responsibly could help
    • Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges
    • 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
    • Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply
    • Monitor your credit score with CreditWise from Capital One. It's free for everyone

Credit card comparison

We recommend comparing options to ensure the card you're selecting is the best fit for you. To make your search easier, here's a short list of standout credit cards.

Offer Our Rating Welcome Offer Rewards Program APR Learn More
Rating image, 5.00 out of 5 stars.
5.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Best for cash back on rotating categories 		Discover will match all the cash back you’ve earned at the end of your first year. 1% - 5% Cashback Circle with letter I in it. Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases.

Intro:

Purchases: 0%, 15 months

Balance Transfers: 0%, 15 months

Regular: 18.49% - 27.49% Variable APR *Rates as of December 12, 2024.

Apply Now for Discover it® Cash Back

On Discover's Secure Website.

Rates & Fees External Link Icon

Rating image, 5.00 out of 5 stars.
5.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
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Best for cash rewards on everyday spending 		$200 cash rewards Circle with letter I in it. Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months. 2% cash rewards Circle with letter I in it. Earn unlimited 2% cash rewards on purchases.

Intro: Circle with letter I in it. 0% intro APR for 12 months from account opening on purchases and qualifying balance transfers

Purchases: 0% intro APR, 12 months from account opening

Balance Transfers: 0% intro APR, 12 months from account opening on qualifying balance transfers

Regular: 19.24%, 24.24%, or 29.24% Variable APR

Apply Now for Wells Fargo Active Cash® Card

On Wells Fargo's Secure Website.

Rates & Fees External Link Icon

Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Best for unlimited rewards on purchases 		25,000 points Circle with letter I in it. 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases 1.5 points per dollar Circle with letter I in it. Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees, and your points don't expire as long as your account remains open.

Intro: Circle with letter I in it. 0% Intro APR for 15 billing cycles for purchases. 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days. After the intro APR offer ends, 18.49% - 28.49% Variable APR on purchases and balance transfers will apply. A 3% fee for 60 days from account opening, then 4% fee applies to all balance transfers.

Purchases: 0% Intro APR for 15 billing cycles for purchases

Balance Transfers: 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days

Regular: 18.49% - 28.49% (Variable)

Apply Now for Bank of America® Travel Rewards credit card

On Bank of America's Secure Website.

Full Capital One Quicksilver Secured Cash Rewards Card review

This credit card is a good fit for: Consumers who want to build or improve their credit and earn cash back rewards without paying an annual fee.

Top perks

The Capital One Quicksilver Secured Cash Rewards Credit Card includes the following perks.

No annual fee

There is no annual fee to use this credit card. Not all secured credit cards come without an annual fee. This is an excellent perk for cardmembers who are low on funds and just beginning to establish credit.

Unlimited 1.5% cash back

This card earns an unlimited 1.5% cash back on purchases. Not all secured credit cards earn rewards, so this card offers an excellent way to earn rewards while building credit. The fact that this secured card earns rewards with no annual fee is another notable perk.

Read more: Best Cash Back Credit Cards

Earn 5% on eligible travel purchases booked through Capital One Travel

While this card earns an unlimited 1.5% cash back on everyday purchases, there are other ways to earn rewards when using the Capital One Quicksilver Secured Cash Rewards Credit Card.

When booking hotels and rentals cars through the Capital One Travel portal, you'll earn 5% cash back. You must pay with your Capital One Quicksilver Secured Cash Rewards Credit Card. Before booking travel reservations with your card, review your total credit limit.

Easy rewards with no rotating categories

This rewards card has no earning categories and no rotating categories. Instead, cardmembers earn at a rate of 1.5% for purchases. With no categories to keep track of, users can spend as they normally would while earning cash back rewards. Some cards have rotating categories, which can be confusing. Plus, there's no need to opt in to earn rewards. Instead, rewards are earned automatically.

No foreign transaction fees

The Capital One Quicksilver Secured Cash Rewards Credit Card doesn't charge foreign transaction fees. If you plan to use this credit card while traveling internationally, you won't have to worry about these fees. Some credit cards charge foreign transaction fees for purchases made abroad. Typically, these fees are 3%, which can add up fast. Using a credit card without foreign transaction fees can save you money.

Includes access to a free credit monitoring tool

Cardmembers can use CreditWise from Capital One at no extra cost. This credit monitoring service can help you monitor your credit activity. This free service won't impact your credit score, and can be a great tool to use as you build your credit.

Be considered for a credit limit increase in as little as six months

With this card, you will automatically be considered for a credit limit increase in as little as six months. If Capital One decides to increase your limit, you won't be required to pay an additional security deposit.

Potential to receive your security deposit back as a statement credit

You have the potential to get your security deposit back as a statement credit with this card. How to increase your chances? Pay your credit bill in full and on time each month.

What could be improved

Although the Capital One Quicksilver Secured Cash Rewards Credit Card has many perks, it does have some minor issues.

Requires a security deposit

Since this is a secured credit card, users must pay a security deposit before using it. Your security deposit will be equal to your initial credit limit. For example, a $200 security deposit will result in an initial credit limit of $200. While this deposit is refundable, it's something to be aware of when applying for the card. Getting approved for an unsecured credit card can be more challenging if you have limited credit, but unsecured cards don't require a security deposit.

No bonus offers for new cardmembers

Some credit cards offer a bonus to eligible new cardholders. This may be in the form of bonus cash back after meeting a minimum spend within a set time. There is no bonus offer available with this credit card. While it's not unusual for a secured credit card to offer no bonus, it's something to consider.

High variable APR

This card has a high variable interest rate, which means the interest rate can change. It's not uncommon for a card made for consumers with little credit history to have a higher APR. But it's worth noting that this rate is very high. To avoid paying credit card interest, only charge what you can afford and pay your balance in full monthly. Otherwise, you could pay a lot in interest charges, and not paying your balance in full could negatively impact your credit.

Suggested credit score

While this is a solid credit-building card, the Capital One Quicksilver Secured Cash Rewards Credit Card is intended for consumers who are new to credit or have bad credit, which is generally a FICO® Score under 579. Other factors are also assessed, such as income and current debt. So it could be possible to get approved with a lower credit score -- or be denied with a higher score.

The Capital One Quicksilver Secured Cash Rewards Card is right for you if:

This card could be a great choice if you're trying to build or improve your credit and want to earn rewards without paying an annual fee. Keep this one on your list when considering the best secured credit cards.

Here are some of the perks of the Capital One Quicksilver Secured Cash Rewards Credit Card:

  • No rewards cap
  • No rewards categories to remember
  • No foreign transaction fees
  • Access to a free credit monitoring tool

You'll need to pay a security deposit to use this card. But if you pay your bill consistently, you could get your deposit back in time. With the ability to earn unlimited rewards while paying no annual fee, this card is hard to beat.

Our credit card methodology

At Motley Fool Money, we rate credit cards on a five-star scale (1 = poor, 5 = best). Our rating criteria includes rewards rates, welcome bonuses, fees, and perks like travel credits and 0% intro APR offers to evaluate our ratings.

We combine these factors with an evaluation of brand reputation and customer satisfaction to ensure you're getting the best card recommendations. Learn more about how Motley Fool Money rates credit cards.

FAQs

  • No, you won't pay an annual fee to have the Capital One Quicksilver Secured Cash Rewards Credit Card in your wallet.

  • This card earns rewards. You'll earn an unlimited 1.5% cash back on all purchases. You can also earn 5% cash back on hotels and rental cars booked through the Capital One Travel portal when using this card as payment.

  • The Capital One Quicksilver Secured Cash Rewards Credit Card has a minimum security deposit of $200. It'll be refunded if you close your account and pay your balance in full. If your account is deemed eligible to graduate to unsecured, Capital One will return your security deposit to you as a statement credit.