Capital One Quicksilver Secured Cash Rewards Credit Card review
Find out everything you need to know about the Capital One Quicksilver Secured Cash Rewards Credit Card, including a breakdown of its key features, benefits, and drawbacks.
Understanding Capital One Quicksilver Secured Cash Rewards Credit Card: Earn 1.5% cash back on every purchase.
If you’re looking to improve your credit score and earn cash back, the Capital One Quicksilver Secured Cash Rewards Credit Card is a solid option.
With no annual fee and a rewards program that pays 1.5% cash back on all purchases, this card is a great way to take the first step on your road to financial success.
By using your card responsibly, you can work to improve your credit score and eventually qualify for a more prestigious credit card.
Plus, you can get your security deposit back once you’ve built up a good credit history. To learn more about what this card’s features and benefits, keep reading our review.
- Sign-up bonus: There is none.
- Annual fee: This card charges no annual fee.
- Rewards: Unlimited 1.5% cash back on all purchases.
- Other perks: Reports monthly payments to credit bureaus.
- APR: 26.99% variable APR.
Capital One Quicksilver Secured Cash Rewards Credit Card: is it a good card?
The Capital One Quicksilver is one of the best secured credit cards available in the market for two simple reasons.
One, it charges no maintenance fees, so clients can focus on building up their credit scores without wasting money.
Two, it has a great rewards program. With this card, all customers get 1.5% cash back on every purchase, and there’s no limit to how much you can earn.
To get the card, Capital One requires new clients to open a bank account and set a $200+ minimum deposit.
With responsible use, the bank will refund your deposit as statement credit and consider a higher credit limit in just 6 months with no additional deposit required.
The institution reports all payments to the 3 major credit bureaus and you can check your score for free with CreditWise through Capital One’s mobile banking.
The main drawback to this card is its relatively high APR at 26.99%. However, if you don’t carry a balance and pay your bills in full each month, that’s not something you’ll have to worry about.
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Capital One Quicksilver Secured Cash Rewards Credit Card: should you get one?
The Capital One Quicksilver is an excellent tool for credit building and managing finances.
However, it’s important to know everything a card has to offer before making a final decision. Check the perks and drawbacks of this product below to see if it’s the right fit for you.
- Unlimited 1.5% cash back in all purchases;
- Reports monthly payments to major credit bureaus;
- No monthly or annual fees;
- Accepts applicants with bad or limit credit scores;
- Offers $0 Fraud Liability.
- High APR;
- Requires minimum deposit.
What is the required credit score?
One of the key points to this product is the credit building factor. Therefore, Capital One accepts applicants with bad and even limited credit scores.
However, you’ll have to open an account and pay a security deposit of minimum $200.
The maximum limit is chosen by the bank upon approval and can reach up to $3,000 depending on your creditworthiness.
So if you’re struggling with a bad credit history and need to repair it, this credit card might just do the trick. With good use, you’ll notice a positive progress in no time.
Capital One Quicksilver Secured Cash Rewards Credit Card application
If you’re tired of low credit holding you back, this is the opportunity for you. Get your finances back on track while earning rewards and improve your credit score with good use.
If you want to learn more details about the application for the Capital One Quicksilver Secured Cash Rewards Credit Card, follow the link below!
About the author / Aline Barbosa
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