The Quicksilver Secured Rewards Card from Capital One is a great option for those looking to rebuild their credit. This secured rewards card provides the opportunity for individuals with bad or nonexistent credit histories to build their scores and reap generous rewards in return. It is important, however, to understand all of the details that come along with this type of secured credit card before making an informed decision as to whether it’s right for you. This review will provide an overview of the features and benefits associated with the Quicksilver Secured Rewards Card from Capital One, as well as discuss any potential drawbacks worth considering prior to application.
The Quicksilver Secured Rewards Card from Capital One offers a variety of advantages designed specifically for consumers who are rebuilding their credit history. A major benefit of this card is its ability to help users increase their credit score over time by reporting on-time payments regularly to each of the three major consumer reporting agencies (Equifax, Experian, TransUnion). Furthermore, users can also take advantage of earning 0% APR on balance transfers during the first nine months after opening an account—an offer which can help save money when transferring balances from higher interest rate cards.
Last but not least, one unique feature available with this card is its cash back reward structure; users earn 1.5% cash back on every purchase they make using their Quicksilver Secured Rewards Card from Capital One, up to $200 per month—a bonus many other secured cards do not offer. All these aspects combine into what could be considered a compelling package for those seeking out a secured credit card with rewarding features and opportunities for increasing their overall financial health long-term. The remainder of this article will analyze how effective this particular offering truly is at achieving such goals.
Overview Of Quicksilver Secured Credit Card
The Quicksilver Secured Credit Card from Capital One is a unique credit card offering aimed at individuals who are looking to build or rebuild their credit. It provides an opportunity to access the same rewards as traditional cards, but with the added security of being secured by cash collateral. The main features and benefits of this card include no annual fee, a low APR on purchases, unlimited 1.5% cash back on every purchase made, and flexible payment options.
For those looking to establish or improve credit history, the Quicksilver Secured Credit Card offers several advantages. As long as timely payments are made each month – including minimum payments due – reported activity will be shared with all three major national credit bureaus: Equifax, Experian and TransUnion. Additionally, after five months of consistent payments and good financial behavior, customers may have the option to upgrade their account to an unsecured version without providing additional deposits.
Benefits And Features
Quicksilver Secured Rewards from Capital One is a credit card that provides users with the potential to earn rewards and build up their credit. The major features of this card include access to an unsecured line of credit, no annual fee and low interest rates on purchases. Additionally, it offers rewards points for every dollar spent and cash back bonuses when specific thresholds are met.
The Quicksilver Secured Rewards card also provides users with other benefits such as fraud protection services, online account management tools, flexible payment options, balance transfers and travel accident insurance. Furthermore, customers can redeem their earned rewards in the form of statement credits, gift cards or merchandise from select retailers. Overall, this card is designed to provide individuals with the opportunity to improve their financial standing while taking advantage of its reward system.
Interest Rates And Fees
Capital One’s Quicksilver Secured Rewards card offers a competitive interest rate of 24.99% (variable) APR on purchases and balance transfers, while cash advances have an even higher APR of 26.99%. This is lower than the industry standard for secured credit cards and can be beneficial to those who are looking to increase their credit score or build up a good payment history.
In addition to the favorable interest rates, there is no annual fee associated with this product which makes it more affordable for those who are just starting out in the world of credit or people that may not use their accounts often enough to justify paying an annual fee. The only other costs associated with this card would be any late payments that could incur penalties and/or fees so it’s important to make sure all payments are made on time and in full each month.
Customers have provided overwhelmingly positive reviews of Quicksilver Secured Rewards from Capital One. Many praise the card’s convenience, security features, and rewards program.
Below are three key points customers consistently make in their reviews:
- A large majority of customers report that they appreciate not having to worry about overspending or going into debt with this card due to its secured nature.
- Customers also express satisfaction with how easy it is to redeem rewards for cash back or gift cards.
- The vast majority of users find the customer service team helpful when resolving any issues quickly and efficiently.
In light of these favorable comments, it can be concluded that overall customers are pleased with the Quicksilver Secured Rewards from Capital One credit card.
How It Compares To Other Credit Cards
The Quicksilver Secured Credit Card from Capital One is an attractive option for those looking to build a strong credit history. Compared to other secured cards, the low annual fee and lack of foreign transaction fees make it a viable choice. The rewards rate on this card is slightly lower than other secured cards, but its numerous benefits can still be beneficial in certain circumstances.
|Low Annual Fee||High Annual Fees|
|No Foreign Transaction Fees||Foreign Transaction Fees|
|Rewards Rate Lower Than Average||Higher Rewards Rates Than Average|
|Cash Back On All Purchases||Limited Categories For Cash Back|
|Access To A Variety Of Signup Bonuses And Special Offers||Fewer Signup Bonuses And Special Offers Available|
Overall, the Quicksilver Secured Credit Card from Capital One provides reasonable value for consumers who are trying to establish or rebuild their credit score. While the rewards rate may not be as high as some other options, it comes with many useful features that could benefit users depending on their individual needs.
Pros And Cons
Capital One Quicksilver secured rewards credit card offers many advantages for those who qualify. It has a competitive APR, no annual fee and the ability to earn cash back on eligible purchases. The sign-up bonus is also very generous, allowing new customers to earn up to $200 in cash back when they spend at least $500 within the first three months of account opening. Furthermore, users can benefit from a 0% introductory APR period for nine months on balance transfers and new purchases.
On the other hand, it should be noted that this card does require a security deposit equal to your desired credit limit. Additionally, some may find that its ongoing rewards rate of 1.5% cashback could be improved upon with another card offering higher percentages or different reward structures such as points or miles. There are also fewer redemption options compared to some other cards which may make it harder to use earned rewards in meaningful ways.
The Quicksilver Secured Credit Card from Capital One offers a number of benefits and features for those looking to build their credit. The card has competitive interest rates and fees, as well as customer reviews that suggest its value. This card is comparable to other secured cards on the market, offering pros and cons depending on individual needs.
For individuals who are interested in building or rebuilding their credit history, the Quicksilver Secured Credit Card provides an effective tool for doing so. With a variety of benefits such as low-interest rates and no annual fee, it can be a valuable resource for establishing positive payment habits. Furthermore, customers have reported satisfaction with this product due to the range of rewards available when using the card responsibly.