It’s a credit card that offers you an opportunity to build or rebuild your credit with responsible use. A secured credit card also requires a refundable security deposit, which is held as collateral for the account. No interest is applied to the security deposit.

Once you’re approved, all it takes to get started is a minimum required security deposit, which you can pay all at once or over time. You can make your security deposit online via the link sent to your email or in your approval letter. When you’ve made your minimum required security deposit, your account will be opened. There are two ways your security deposit can be refunded. First, you can earn back your deposit as a statement credit by using your card responsibly or second, we will refund it when you close your account and pay your balance in full. Your card status will be regularly reported to the three major credit bureaus.

Unlike a prepaid card, a secured card is an actual credit card that reports to the three major credit bureaus—providing the opportunity to build your credit, with responsible use. Prepaid cards are more like debit cards and cannot help you build your credit because they do not report to the major credit bureaus.

No. Your Capital One Quicksilver Secured Rewards Credit Card will not have the word “secured” on it. It will look just like other Capital One credit cards.

Yes. As with any credit card, there are certain conditions that could cause your application for this credit card to be declined.