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Capital One Quicksilver Secured overview
The Capital One Quicksilver Secured Money Rewards Credit score Card is a strong choice on the market for these with poor or restricted credit score. Whereas most secured card choices are meant to construct credit score and never earn rewards, the Quicksilver Secured is a novel mix of each — providing a 1.5% rewards fee on all purchases. With no annual charge and no international transaction charges (see charges and charges), this card opens many doorways for many who need entry to credit score. Card score*: ⭐⭐⭐½
*Card score relies on the opinion of TPG’s editors and isn’t influenced by the cardboard issuer.
Simply because your credit score rating isn’t excellent doesn’t imply you’re banned from making use of for bank cards altogether. Secured bank cards are an ideal different that helps you construct or restore your credit score via a barely totally different method.
Relatively than a standard credit score line, you’ll need to put down a completely refundable money deposit that determines your credit score restrict. From there, a secured bank card will act similar to a standard bank card — however with a a lot simpler approval course of.
The Capital One Quicksilver Secured is without doubt one of the finest — if not the very best — secured card choices available on the market. There’s no annual charge and a minimal of a $200 money safety deposit required (see charges and charges). However maybe the very best a part of this card is the flexibility to earn 1.5% money again on all purchases, which is a unbelievable incomes fee even when contemplating conventional bank cards.
Let’s check out all the particulars.
Capital One Quicksilver Secured professionals and cons
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Capital One Quicksilver Secured welcome supply
Sadly, this card doesn’t include a welcome supply.
Capital One Quicksilver Secured advantages
Whereas secured playing cards are usually gentle on advantages, the Quicksilver Secured comes with a good variety of perks value mentioning:
- No international transaction charges: When touring overseas and paying along with your Quicksilver Secured, you received’t incur any international transaction charges.
- Automated credit score line critiques: Based mostly in your fee historical past and creditworthiness, it’s possible you’ll routinely obtain a credit score line bump — with out placing extra down as a safety deposit.
- Monitor credit score rating: Utilizing Capital One’s CreditWise characteristic, you’ll be able to verify your credit score rating without cost and with out hurting your rating.
- Entry to digital options: You’ll be able to implement a versatile fee date and AutoPay to make sure that you pay your assertion on time.
- No annual charge: All of those nice advantages for no annual charge.
Do not forget that you’ll need to put down a minimal of $200 as your safety deposit (which additionally determines your credit score line), so the extra you set down, the extra credit score you’ll have entry to.
For those who want a bigger credit score line, you’ll be able to put down a further deposit inside 35 days of being authorised and activating your card. You’ll be able to elevate your preliminary credit score line as much as your most restrict — which is assigned upon card approval — and will vary from $1,000 to $3,000, relying in your creditworthiness.
Lastly, you might be able to “graduate” to the Capital One Quicksilver Money Rewards Credit score Card — the unsecured model — by utilizing the cardboard responsibly. Meaning you’ll get your safety deposit again, however all different card phrases and options will keep the identical.
Incomes rewards with the Capital One Quicksilver Secured
With this card, you’ll earn a simple 1.5% again on all purchases, with no restrict on how a lot you’ll be able to earn.
That’s a good incomes fee, though you received’t get pleasure from any bonus classes.
Redeeming rewards with the Capital One Quicksilver Secured
You’ll be able to redeem your rewards through a press release credit score, purchase reward playing cards or reimburse your self for purchases.
You received’t be incomes Capital One miles, so that you received’t have the ability to make the most of Capital One’s journey switch companions, however you should have a little bit of flexibility along with your cash-back rewards.
Which playing cards compete with the Capital One Quicksilver Secured?
For those who’re seeking to construct your credit score, you could have a number of choices; considered one of these is likely to be a greater match than the Capital One Quicksilver Secured.
- If you wish to earn bonus rewards whereas constructing credit score: The Uncover It Secured Credit score Card earns 2% money again at gasoline stations and eating places (as much as $1,000 in mixed purchases every quarter) and limitless 1% money again on all different purchases.
- If you have already got a superb credit score rating: The Citi Double Money® Card (see charges and charges) earns limitless 2% money again on all purchases (1% if you purchase, and 1% as you pay). Its simplicity makes it considered one of our favourite starter reward playing cards. For extra particulars, see our full overview of the Citi Double Money.
The knowledge for the Uncover It Secured Credit score Card has been collected independently by The Factors Man. The cardboard particulars on this web page haven’t been reviewed or offered by the cardboard issuer.
For extra choices, take a look at our lists of the finest secured bank cards and the finest starter bank cards.
Associated: Find out how to earn factors and miles with truthful to poor credit score
Is the Capital One Quicksilver Secured value it?
The Capital One Quicksilver Secured gives a pathway to monetary success by paying your payments on time and in full. After constant use, you’ll be able to improve to the unsecured Quicksilver card.
Backside line
Though there’s no welcome bonus (unusual for secured playing cards within the first place), the 1.5% rewards fee, no international transaction charges, and no annual charge are what make this card a viable choice for many who want a clear break or someplace to begin.
It’s an ideal secured bank card that may put you again on the highway to creditworthiness.
Be taught extra: Capital One Quicksilver Secured
