AwardWallet receives compensation from advertising partners for links on the blog. The opinions expressed here are our own and have not been reviewed, provided, or approved by any bank advertiser. Here's our complete list of Advertisers. Offers for Bank of America cards mentioned in this post have been updated as of 08/13/2025
Offers for the Bank of America® Customized Cash Rewards Secured Credit Card are not available through this site. Some offers may have expired. Please see our card marketplace for available offers
If you don't have much credit history to speak of or have made some mistakes in the past, your credit card options may be limited. That's because the best travel rewards cards generally require excellent credit to increase chances of approval. If you can't get approved for a more-traditional unsecured credit card, you might consider applying for a secured one, such as the Capital One Quicksilver Secured Cash Rewards Credit Card.
A secured credit card works similarly to an unsecured card. The only difference is that you must have a security deposit when you open your account, which typically serves as your credit limit. In the eyes of a lender, a security deposit helps mitigate your risk of default.
The Capital One Quicksilver Secured Credit Card offers cardholders an opportunity to earn rewards and a path to an unsecured card. Here's what to know about it.
Page Contents
- Capital One Quicksilver Secured Credit Card One Pros
- Capital One Quicksilver Secured Credit Card Cons
- Capital One Quicksilver Secured Credit Card Benefits
- Capital One Quicksilver Secured Credit Card Welcome Offer and Earning Rates
- Redeeming Cash Back With the Capital One Quicksilver Secured Credit Card
- Application Restrictions
- Cards That Compete With the Capital One Quicksilver Secured Credit Card
- Final Thoughts
Capital One Quicksilver Secured Credit Card One Pros
- Earns 1.5% Cash Back on every purchase, every day. 5% Cash Back on hotels, vacation rentals and rental cars booked through Capital One Travel.
- Capital One will review your credit line automatically.
- This card is more accessible than most unsecured cards.
- No foreign transaction fees.
Capital One Quicksilver Secured Credit Card Cons
- Requires a security deposit.
- Does not come with a welcome offer of cash back or bonus points.
- Has a high regular APR of 29.74% (Variable)
Capital One Quicksilver Secured Credit Card Benefits
The Capital One Quicksilver Secured Credit Card doesn't have many benefits. However, it does come with a few perks that can help you build or improve your credit.
Automatic credit line reviews
As is standard with secured credit cards, you will need to make a $200 minimum security deposit that will serve as your credit line. The more you deposit, the higher your credit limit will be.
However, with the Capital One Quicksilver Secured Credit Card, you are automatically considered for a higher credit line after six months with no additional deposit. Over time, with responsible credit usage, you can earn your deposit back and graduate to the unsecured card like the Capital One Quicksilver Cash Rewards Credit Card.
If you have the Capital One Quicksilver Secured Credit Card, you'll never be charged foreign transaction, replacement card, or authorized user fees. You're also never held responsible for unauthorized purchases made on your account, thanks to $0 Fraud Liability protection.
Access to CreditWise from Capital One
Using a secured credit card responsibly is a great way to improve your credit score. If you're working hard to boost your score, you'll want to track your progress. Luckily, CreditWise from Capital One does just that. You can receive alerts when your TransUnion or Experian credit report changes. Over time, you'll hopefully notice your score trending upwards.
Related: How to Check Your Credit Score for Free
Capital One Quicksilver Secured Credit Card Welcome Offer and Earning Rates
New cardholders of the Capital One Quicksilver Secured Credit Card are not eligible to receive a welcome bonus since the card doesn't offer one. While it may be disappointing, it does make sense. If your credit line is dependent on your security deposit, you likely can't meet a standardized spending requirement to earn a welcome bonus.
However, cardholders do earn rewards on everyday purchases, which isn't necessarily common among secured credit cards. You'll earn rewards as follows: 1.5% Cash Back on every purchase, every day. 5% Cash Back on hotels, vacation rentals and rental cars booked through Capital One Travel.
Redeeming Cash Back With the Capital One Quicksilver Secured Credit Card
When you're ready to redeem your rewards, you have a few options. You can redeem for cash back in the form of a check, a statement credit to your account, a gift card, or to cover a recent purchase.
Application Restrictions
The Capital One Quicksilver Secured Credit Card is accessible to those with fair credit. Capital One describes fair credit as having defaulted on a loan in the past five years or having a limited credit history. There are still a few application rules and restrictions to be aware of, though.
Generally, you can only apply for a Capital One card every six months, regardless of whether you are applying for a personal or business card. If you've applied for several cards recently, you run the risk of a denial, even for a secured card.
Capital One prefers not to see too many recent applications, so consider holding off on applying for new credit for a few months. You can see if you are pre-approved with no risk to your credit score.
Related: Understanding Rewards Credit Card Application Rules and Restrictions
Cards That Compete With the Capital One Quicksilver Secured Credit Card
If you don't think the Capital One Quicksilver Secured Credit Card is a good fit for you, there are plenty of other options.
- If you want a Capital One card but a lower security deposit, consider the Capital One Platinum Secured Credit Card. This card imposes no annual fee and offers similar benefits as the Capital One Quicksilver Secured Credit Card, but comes with a lower minimum security deposit. You can deposit $49, $99, or $200, which means this card can be accessible to a lot of borrowers. Learn more about the Capital One Secured Card in our full review.
- If you want to earn substantial rewards, take a look at the Bank of America® Customized Cash Rewards Secured Credit Card. You'll earn 6% cash back on the category of your choice for the first year as a cardholder, then 3%. You'll also earn 2% back at grocery stores and wholesale clubs. Bonus cash back up to the quarterly maximum of $2,500. Cardholders must have a security deposit between $200 and $5,000, which will serve as their credit limit.
- If you want an unsecured card for bad credit, the Petal 1 Visa could be a good option for you. There's no annual fee or security deposit required, and you'll earn cash back at select merchants. There are also no foreign transaction fees, so you can use it abroad without incurring additional costs. It's designed to build credit, making it a suitable option if you're new to credit or rebuilding after a financial setback.
Final Thoughts
The Capital One Quicksilver Secured Credit Card is an excellent option for anyone with fair credit who wants to work on their credit score. The opportunity to earn rewards on a secured credit card is fantastic.
Although you need to pay a security deposit, you can hopefully get it back quickly by using your card responsibly. Be sure to make the security deposit as soon as you are approved. If you don't make your deposit within 35 days of being approved, you will not be able to open your account.
The comments on this page are not provided, reviewed, or otherwise approved by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.