Capital One Quicksilver Secured overview
*Card ranking is predicated on the opinion of TPG’s editors and isn’t influenced by the cardboard issuer.
Simply because your credit score rating is not excellent doesn’t suggest you are banned from making use of for bank cards altogether. Secured bank cards are an amazing various that helps you construct or restore your credit score by way of a barely completely different method.
Slightly than a conventional credit score line, you may should put down a completely refundable money deposit that determines your credit score restrict. From there, a secured bank card will act identical to a conventional bank card — however with a a lot simpler approval course of.
The Capital One Quicksilver Secured is likely one of the finest — if not the very best — secured card choices available on the market. There is no annual price 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 power to earn 1.5% money again on all purchases, which is a unbelievable incomes price 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 would not include a welcome supply.
Capital One Quicksilver Secured advantages
Whereas secured playing cards are typically gentle on advantages, the Quicksilver Secured comes with an honest variety of perks value mentioning:
- No international transaction charges: When touring overseas and paying together with your Quicksilver Secured, you will not incur any international transaction charges.
- Automated credit score line opinions: Primarily based in your fee historical past and creditworthiness, chances are you’ll mechanically 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 examine your credit score rating at no 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 price: All of those nice advantages for no annual price.
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Bear in mind that you will have to place down a minimal of $200 as your safety deposit (which additionally determines your credit score line), so the extra you place down, the extra credit score you may have entry to.
In the event you want a bigger credit score line, you’ll be able to put down an extra deposit inside 35 days of being permitted 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 could possibly “graduate” to the Capital One Quicksilver Money Rewards Credit score Card — the unsecured model — through the use of the cardboard responsibly. Meaning you may 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 may earn a simple 1.5% again on all purchases, with no restrict on how a lot you’ll be able to earn.
That is an honest incomes price, though you will not 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 present playing cards or reimburse your self for purchases.
You will not be incomes Capital One miles, so you will not have the ability to make the most of Capital One’s journey switch companions, however you’ll have a little bit of flexibility together with your cash-back rewards.
Which playing cards compete with the Capital One Quicksilver Secured?
In the event you’re seeking to construct your credit score, you have got a number of choices; considered one of these may 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 fuel 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 great 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 evaluate 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 added choices, take a look at our lists of the very best secured bank cards and the very best starter bank cards.
Associated: How one can earn factors and miles with truthful to poor credit score
Is the Capital One Quicksilver Secured value it?
Backside line
Though there isn’t any welcome bonus (unusual for secured playing cards within the first place), the 1.5% rewards price, no international transaction charges, and no annual price are what make this card a viable possibility for many who want a clear break or someplace to start out.
It is an amazing secured bank card that may put you again on the highway to creditworthiness.
Study extra: Capital One Quicksilver Secured
