What Are the Fees Associated With the Capital One Quicksilver Secured Cash Rewards Credit Card?
- Annual fee: This card has no annual fee. Secured credit cards typically charge an annual fee, and the average fee for those that do is about $35, according to the U.S. News Consumer Credit Card Fee Study.
- Balance transfer fee: You won’t pay a balance transfer fee, but this card also has no incentive to transfer a balance, such as a 0% introductory APR.
- Cash advance fee: 3% of the amount of the cash advance, but not less than $3
- Foreign transaction fee: The Capital One Quicksilver Secured Cash Rewards Credit Card does not charge fees for purchases made abroad.
- Penalty APR: The card has no penalty APR.
Maximizing Rewards
Cardholders can earn unlimited 1.5% cash back on every purchase.
The upside of this rewards structure is that you can earn a steady rate of cash back without tracking rewards categories or altering your spending habits. The downside is that you will miss the chance for bigger bonus rewards.
Comparisons With Other Credit Cards
Annual fee: Neither card charges an annual fee.
Minimum security deposit: Capital One Quicksilver Secured Cash Rewards Credit Card is an unsecured card, which means you won’t have to put down a deposit. On the other hand, the Capital One Quicksilver Cash Rewards Credit Card requires a $200 refundable deposit to establish an initial $200 credit line.
Rewards: Both cards earn unlimited 1.5% cash back on every purchase.
Sign-up bonus: The Capital One Quicksilver Secured Cash Rewards Credit Card offers a $200 cash bonus after you charge $500 in the first three months. A sign-up bonus is not available for the Capital One Quicksilver Cash Rewards Credit Card.
Benefits: The Capital One Quicksilver Secured Cash Rewards Credit Card comes with a 15-month 0% introductory APR; 17.99% to 27.99% (variable) after that, on purchases and charges neither an annual fee nor foreign transaction fees. Other benefits include extended warranty protection, rental car insurance and 24-hour travel assistance services, which can replace your lost or stolen card in an emergency. Although the Capital One Quicksilver Secured Cash Rewards Credit Card lacks a 0% introductory APR offer, it offers savings with no annual fee and no foreign transaction fees. Both cards feature $0 fraud liability, which means you won’t be responsible for unauthorized charges.
Annual fee: Neither card charges an annual fee.
Minimum security deposit: The BankAmericard Secured Credit Card requires a refundable deposit of at least $300. Capital One Quicksilver Secured Cash Rewards Credit Card asks for a refundable $200 deposit to open an initial $200 credit line.
Rewards: A rewards program is not available with the BankAmericard Secured Credit Card. Alternatively, the Capital One Quicksilver Secured Cash Rewards Credit Card earns unlimited 1.5% cash back on every purchase.
Sign-up bonus: Neither card offers a sign-up bonus.
Benefits: The BankAmericard Secured Credit Card provides free monthly FICO credit score access, zero fraud liability and overdraft protection if you link your card to an eligible Bank of America checking account. The Capital One Quicksilver Secured Cash Rewards Credit Card charges no foreign transaction fees and similarly offers free access to a credit monitoring tool and zero fraud liability. Both cards do not charge an annual fee.
Should You Get the Capital One Quicksilver Secured Cash Rewards Credit Card?
- Want a chance to earn cash back rewards while you build or rebuild credit.
- Prefer to make a small, refundable security deposit to open an account.
- Would like free access to your credit score as build your credit.
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