/images/2018/01/23/navina-side-hustle-mid_MPfEDfV.jpg)
/images/2019/12/06/smart_strategies_to_save_money_on_car_insurance.jpg)
/authors/ben_walker_updated.png)
/authors/jess_ullrich.jpg)
/images/2021/04/02/pensive-man.jpeg)
Capital One offers a variety of options in its lineup of credit card products, some of which are designed to help you build or rebuild your credit. This includes the Capital One Platinum Credit Card and Capital One QuicksilverOne Cash Rewards Credit Card. But how can you choose one over the other?
In this comparison of the Capital One Platinum vs. QuicksilverOne credit cards, you’ll learn about their top features and benefits, as well as the important differences between the two cards. This will help you choose the card that fits your needs.
Capital One Platinum vs. Capital One QuicksilverOne
Both the Capital One Platinum and QuicksilverOne credit cards are geared toward individuals with average credit or limited credit history. They don’t have as strict of requirements to qualify as many other credit cards, which opens opportunities for building or rebuilding your credit.
But having similar qualification requirements doesn’t mean these two cards are the same. This table can give you a quick overview of the similarities and differences between the Capital One Platinum Credit Card and Capital One QuicksilverOne Cash Rewards Credit Card, so you can see which card has the features you’re looking for.
/images/2020/07/22/capital_one_platinum.png)
Capital One Platinum |
/images/2017/08/03/capital_one_quicksilver_cash_rewards_card289.jpg)
Capital One QuicksilverOne |
|
| Annual fee | $0 | $39 |
| Earning rate | None | Unlimited 1.5% cash back on every purchase; plus 5% unlimited cash back on hotels and rental cars booked through Capital One Travel |
| Redemption methods | None |
|
| Annual credits | None | None |
| Other benefits |
|
|
| Foreign transaction fee | None | None |
| Credit needed | Fair | Fair |
| Learn more | Learn more |
What both cards excel at
The Capital One Platinum and QuicksilverOne fall into the same category of credit cards, which are cards that don’t typically require good or excellent credit. In addition, they’re both offered by the same credit card issuer, Capital One, and use the same Mastercard payments network.
Both cards have many similarities, including these features where they overlap:
- Automatic credit line reviews: Capital One will automatically review your credit card activity in as few as six months after you receive the Capital One Platinum or QuicksilverOne. This will determine whether you qualify for a credit line increase. Getting a credit line increase can be helpful if you need more available credit for purchases or you want to lower your credit utilization, which might help increase your credit score.
- Foreign transaction fee: These cards aren’t considered travel credit cards, so you won’t find many travel benefits attached to them. But neither card has a foreign transaction fee. This can be helpful if you travel to other countries and want to avoid the typical fee associated with using credit cards abroad. Of course, it could also make sense to get one of the best travel credit cards for additional travel benefits.
- Average credit requirement: You don’t need good or excellent credit to qualify for these cards. They’re designed to help you build credit, so average credit or a limited credit history won’t typically play as big of a role during the application process. This can be a huge opportunity if your credit score isn’t where you want it to be, but you don’t want to get a secured credit card.
- Contactless payments: Contactless credit cards have become more common throughout the U.S. and the world in recent years. Both of these cards come with contactless capabilities, so if you see the contactless symbol (it looks like a Wi-Fi symbol) at a payment terminal, you have the option to quickly tap, pay, and go in a safe and secure manner.
- Important alerts: Both of these Capital One credit cards offer many types of alert features you can use and customize to your liking. This includes email or text reminders about your account, alerts about potential duplicate purchases, notifications of suspicious activity, and alerts from CreditWise about changes to your TransUnion or Experian credit reports.
3 important differences between Capital One Platinum and Capital One QuicksilverOne
It can be difficult to choose between two cards when they appear very similar. But when you look at their differences, it’s easier to see where you might consider one over the other. Here are a few important differences between the Capital One Platinum and the QuicksilverOne:
1. Annual fee
This one is straightforward — one of these cards has an annual fee and the other doesn’t. This matters because having to pay a fee simply to use a credit card takes away from the overall value of the card. But if the benefits you get from the card outweigh the cost of the annual fee, it’s still worth it to have the card.
The Capital One Platinum has a $0 annual fee, whereas the Capital One QuicksilverOne has a $39 annual fee. If you don’t want to deal with an annual fee at all, the Capital One Platinum is the clear winner. Learn more about this card in our Capital One Platinum Credit Card review.
2. Earning potential
Between the two cards, the Capital One QuicksilverOne is the only one that has any earning potential. The Capital One Platinum doesn’t offer any rewards, whereas the QuicksilverOne is a cashback credit card. You get an unlimited 1.5% cash back on every purchase; plus 5% unlimited cash back on hotels and rental cars booked through Capital One Travel you make.
This earning rate competes with some of the best cashback credit cards available and makes it easy for you to earn cash back on a wide variety of purchases. You aren’t limited to specific categories to get your bonus rewards, so everyday purchases like groceries, gas, utilities, and more will earn the same 1.5% rate. There's no limit to how many rewards you can earn and they don't expire either.
Because the Capital One Platinum doesn’t earn any rewards, the Capital One QuicksilverOne is the winner in this category. Learn more about this card in our Capital One QuicksilverOne review.
3. Redemption options
One of the perks of rewards credit cards is that you get to redeem your rewards in different ways. For example, the Capital One QuicksilverOne earns cash back and offers multiple redemption options, including statement credits, checks, and gift cards. Getting a statement credit is similar to getting straight cash because you can make any eligible purchase on your card and then use your rewards to help pay for that purchase.
The Capital One Platinum doesn’t earn any rewards, which means you don’t have any redemption options. If earning rewards and using them in different ways is important to you, the QuicksilverOne is the clear choice between these two cards.
Which card should you choose?
You have a few factors to consider when choosing between the Capital One Platinum and QuicksilverOne. Both cards typically require fair credit, so there’s no difference in whether it’s easier to qualify for one over the other. And with responsible use, they might both help you build or rebuild your credit.
So it comes down to the features of each card and which ones make the most sense for your situation. The Capital One Platinum has a $0 annual fee, but it doesn’t offer any rewards or redemption options. If your only concern is to improve your credit score, this is a great option for getting started.
But if you want to earn rewards on your purchases while building your credit, the Capital One QuicksilverOne makes more sense. This card earns unlimited 1.5% cash back on every purchase; plus 5% unlimited cash back on hotels and rental cars booked through Capital One Travel, but it does come with a $39 annual fee. But keep in mind that if you don’t spend at least $2,600 ($2,600 x 0.015 = $39) with the QuicksilverOne on an annual basis, you won’t offset the fee.
FAQs
Which is better, the Capital One Platinum or Capital One QuicksilverOne?
The better card between the Capital One Platinum and Capital One QuicksilverOne depends on your unique financial goals. For example, the Capital One Platinum has a $0 annual fee and doesn’t typically require good or excellent credit. So it’s possible to qualify for this card with average credit or limited credit history.
The Capital One QuicksilverOne also doesn’t require good credit or excellent credit, but it has a $39 annual fee. However, this credit card offers unlimited 1.5% cash back on every purchase; plus 5% unlimited cash back on hotels and rental cars booked through Capital One Travel, whereas the Capital One Platinum doesn’t earn any rewards. Each card can fit different situations, but it depends on what you’re looking for.
What credit score do you need for a Capital One Platinum credit card?
The Capital One Platinum credit card typically requires a fair credit score or better. This level of credit is sometimes referred to as average and often starts at a 580 to 600 credit score on both the FICO score and VantageScore models.
This card may only require limited credit history to qualify. However, it’s important to keep in mind that the more responsible credit activity on your credit report, the higher your chances of qualifying for better credit products.
Do note that numerical credit scores are provided as guidelines only and are not a guarantee of approval.
What credit score do you need for a Capital One QuicksilverOne card?
The Capital One QuicksilverOne card typically requires a fair credit score to qualify. Fair credit scores often start between 580 to 600 and are below good and excellent credit scores.
Be mindful that your credit score is only one factor that credit card issuers take into account and having a certain score does not guarantee approval. Find more options in our list of the best credit cards for fair credit.
What’s the highest credit limit for the Capital One Platinum card?
Capital One doesn’t provide an official number for the highest credit limit available for the Capital One Platinum card. But if you’re approved for this card, the minimum credit line you’ll receive is $300. However, Capital One offers automatic credit line reviews and can approve a credit line increase if your card activity is sufficient.
Does Capital One offer automatic credit line increases?
Yes, Capital One offers automatic credit line increases that align with its automatic credit line reviews. After a certain amount of time, Capital One will do an automatic credit line review to see whether cardholders are eligible for a higher credit limit. If you consistently make your monthly payments on or before your due dates and use your credit card responsibly, you’re more likely to qualify for a higher credit line from one of these reviews.
The bottom line
Both the Capital One Platinum and QuicksilverOne are good options if you have average credit. But if you have good or excellent credit, you could qualify for additional credit cards with better features and benefits.
The Citi Double Cash® Card earns 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases; plus, a special travel offer, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/25. It also has a welcome bonus: Earn $200 in cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® points, which can be redeemed for $200 cash back. This earning rate beats out what’s available on most cashback rewards cards and you get a $0 annual fee. Learn more about this card in our Citi Double Cash Card review.
The Capital One Quicksilver Cash Rewards Credit Card offers an early spend cash bonus: Earn a one-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening. Cardholders also get 1.5% cash back on every purchase, every day; and 5% cash back on hotels and rental cars booked through Capital One Travel (terms apply). This is the same rate you’ll find on the QuicksilverOne, but the Quicksilver has a $0 annual fee. It also comes with a 0% intro APR for 15 months (then 19.74% - 29.74% (variable) APR) on new purchases. Learn more about this card in our Capital One Quicksilver Cash Rewards review.
Great Starter Card for Those With No Credit
/images/2022/08/16/petal-2-cash-back-visa.jpg)
Petal® 2 "Cash Back, No Fees" Visa® Credit Card
Current Offer
Reports to all three major credit bureaus
Annual Fee
$0
Rewards Rate
Unlimited 1% cash back on eligible purchases; after 6 on-time payments, earn 1.25% cash back; after 12 on-time payments, earn 1.5% cash back