Capital One Quicksilver Secured Cash Rewards Credit Card

If you need to build or repair your credit, the Capital One Quicksilver Secured Cash Rewards Credit Card can assist you in doing so by allowing you to construct a more solid credit profile through responsible use. As you earn 1.5 percent cash back on each card purchase and work toward a regular unsecured card, you'll accumulate credit experience. With a minimum deposit of $200, you may be able to qualify for the Capital One Quicksilver Secured Cash Rewards Credit Card, even if your credit is bad, fair, or nonexistent. The card has no annual charge and no foreign transaction fees, however it has a 26.99 percent variable annual percentage rate.

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• There are no yearly or hidden fees, and you can earn up to 1.5 percent cash back at any time. In a matter of seconds, find out if you've been accepted.
• Do you want to improve your credit score? Using a credit card responsibly could be beneficial.
• To acquire a $200 initial credit line, put down a $200 refundable security deposit.
• When you use your card properly, such as making on-time payments, you may be able to get your security deposit back as a statement credit.
• In as little as 6 months, you could be automatically assessed for a greater credit limit with no additional deposit required.
• Enjoy the assurance of $0 Fraud Liability, which means you won't be held liable for illegal charges.
• CreditWise from Capital One will help you keep track of your credit. It's completely free, and monitoring your credit has no negative impact on your credit score.
• Earn a limitless amount of 1.5 percent cash back on every transaction, no matter where you go. There are no rotating categories or earnings caps. It's that easy.

Advantages-

• Earn a consistent amount of cash back: Get 1.5 percent cash back on every purchase, with no need to track spending categories or set earnings limitations.
• Make a small deposit as a kind of security: An initial $200 credit line is established with a $200 refundable deposit.
• Build or rebuild credit: After six months of responsible card usage, applicants with fair, poor, or no credit history may be eligible for a credit limit increase.
• There is no annual fee and no international transaction fees with the Capital One Quicksilver Secured Cash Rewards Credit Card.
• Credit monitoring and fraud protection are included with this card, as well as a free tool for monitoring your credit score and $0 fraud liability, which means you won't be held liable for illegal payments.

Disadvantages-

• Pay a high APR: Because this card has a variable APR of 26.99 percent, you should avoid carrying a debt.
• Expect a security deposit: To open a credit account with this issuer, you'll need to put down a refundable deposit of at least $200. Until you are examined for a credit line increase in six months, the credit line will match the size of your deposit.
• If you don't take advantage of more opportunities, you'll lose out: There will be no rotating bonus categories, so you won't be able to earn extra cash back on gas, groceries, travel, and other card transactions.