Capital One Platinum Card vs. QuicksilverOne Card [Detailed Comparison]

We spend a lot of time here at Upgraded Points discussing rewards-earning card topics such as how to earn lots of rewards and how to get the best value for those rewards.

But, we do realize that not everyone is in a situation where they can jump on the rewards-earning bandwagon just yet.

Today we’re going to get back to basics and discuss a pair of cards that are more appropriate for the beginning stages of the journey to securing a rewards-earning credit card.

If you have a limited credit history or less-than-perfect credit, you may find value in learning about the Capital One Platinum Credit Card and the Capital One QuicksilverOne Cash Rewards Credit Card.

Overview

Before we dive deeper into each of our featured cards, let’s look at a high-level overview of the major features of the Capital One Platinum card and the QuicksilverOne card:

Earning Rewards

Capital One Platinum Credit Card

U.P. Rating 

The rating for this card has been determined by our own industry experts who know the ins and outs of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

The Capital One Platinum card is great for those looking to build up their credit score and credit history, without paying a deposit or annual fee.

Capital One Platinum Credit Card

The Capital One Platinum card is great for those looking to build up their credit score and credit history, without paying a deposit or annual fee.

Welcome Offer

None

Annual Fee

$0

APR

Purchases: 29.49% Variable

Credit Recommended

Upgraded Points credit ranges are a variation of FICO^® Score 8, one of many types of credit scores lenders may use when considering your credit card application.

Fair to Good (580-739)

Why We Like This Card

If you’re ready to get serious about building or rebuilding your credit, you’ll want a credit card for which approval is probable, one that has a simple structure and is easy to manage, and ideally, has some benefits you can use. This is where the Capital One Platinum Credit Card really shines.

Pros & Cons

Pros

• No annual fee
• Free credit monitoring

Cons

• Does not earn rewards
• The high APR can be costly if you carry a balance

Read Full Review

Card Highlights

• No annual or hidden fees. See if you’re approved in seconds
• Be automatically considered for a higher credit line in as little as 6 months
• Help build your credit through responsible use of a card like this
• Enjoy peace of mind with $0 Fraud Liability so that you won’t be responsible for unauthorized charges
• Monitor your credit score with CreditWise from Capital One. It’s free for everyone
• Get access to your account 24 hours a day, 7 days a week with online banking from your desktop or smartphone, with Capital One’s mobile app
• Check out quickly and securely with a contactless card, without touching a terminal or handing your card to a cashier. Just hover your card over a contactless reader, wait for the confirmation, and you’re all set
• Pay by check, online or at a local branch, all with no fee – and pick the monthly due date that works best for you

Financial Snapshot

• APR: Purchases: 29.49% Variable
• Foreign Transaction Fees: None

Capital One QuicksilverOne Cash Rewards Card

U.P. Rating 

The rating for this card has been determined by our own industry experts who know the ins and outs of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

Unlimited 1.5% cash-back on all purchases while you work your way up to a higher credit line. Redeem rewards for any amount at any time.

Capital One QuicksilverOne Cash Rewards Card

Unlimited 1.5% cash-back on all purchases while you work your way up to a higher credit line. Redeem rewards for any amount at any time.

Welcome Offer

None

Annual Fee

$39

APR

Purchases: 29.49% Variable

Credit Recommended

Upgraded Points credit ranges are a variation of FICO^® Score 8, one of many types of credit scores lenders may use when considering your credit card application.

Fair to Good (580-739)

Why We Like This Card

If you’re looking to build your credit, and earn cash-back rewards while doing so, then the Capital One QuicksilverOne Cash Rewards Credit Card is a fantastic option. You can increase your credit line just paying your bill on time every month and you’ll earn an unlimited 1.5% cash-back on all of your purchases.

Pros & Cons

Pros

• 1.5% cash-back on all purchases
• Automatic credit line review after 6 months of on-time payments
• Unlimited access to your credit score via CreditWise

Cons

• $39 annual fee

Read Full Review

Card Highlights

• Earn unlimited 1.5% cash back on every purchase, every day
• No rotating categories or limits to how much you can earn, and cash back doesn’t expire for the life of the account. It’s that simple
• Be automatically considered for a higher credit line in as little as 6 months
• Enjoy peace of mind with $0 Fraud Liability so that you won’t be responsible for unauthorized charges
• Help strengthen your credit for the future with responsible card use
• Earn unlimited 5% cash back on hotels, vacation rentals and rental cars booked through Capital One Travel
• Monitor your credit score with CreditWise from Capital One. It’s free for everyone
• Check out quickly and securely with a contactless card, without touching a terminal or handing your card to a cashier. Just hover your card over a contactless reader, wait for the confirmation, and you’re all set

Financial Snapshot

• APR: Purchases: 29.49% Variable
• Foreign Transaction Fees: None

The Capital One Platinum card is primarily designed for building credit and therefore does not earn rewards. However, it also does not charge an annual fee.

The QuicksilverOne card charges an annual fee of $39 but every purchase earns 1.5% cash-back.

If you would spend more than $2,600 per year, or approximately $217 per month, on the Capital One QuicksilverOne card, the earnings would offset the cost of the annual fee. If not, the Capital One Platinum card may be a better choice.

Bottom Line: Both of our featured cards are primarily designed to build credit. If you plan to spend more than $2,600 per year, the QuicksilverOne card could be the better card as it earns 1.5% cash-back on every purchase, offsetting the annual fee. If you plan to spend less, the Capital One Platinum card may be the better choice with no annual fee. However, the card does not earn rewards. 

Redemption Options

There are no associated redemption options with the Capital One Platinum card as the card does not earn rewards.

The QuicksilverOne card earns cash-back that can be redeemed in increments of $25 for cash, statement credits, gift cards, or shopping at specific online retailers.

Security and Account Management Features

If you select one of our featured cards to help build or rebuild your credit, know that you have access to several complimentary Capital One tools to help you manage your account, monitor transactions, and assist you in the event your account would become compromised.

• Identity Theft Resolution Services — Help is available 24/7 to assist you in filling out paperwork, contacting the appropriate financial institutions, and resolving the issues associated with identity theft. An entire resolution kit is provided at no cost to you.
• Fraud Coverage — Enjoy the peace of mind that 0% liability on unauthorized charges
  brings if your card is lost, stolen, or compromised.

This is not an exhaustive list of every benefit or protection available on our featured cards. Be sure to review all benefits and protections plus pricing, fees, and other pertinent card information prior to applying for either card as these offerings can change.

Bottom Line: Both of our featured cards come with a modest list of travel and shopping benefits and protections, plus security and account management features that make the cards more than just basic credit-building cards. 

Minimum Qualification Requirements

To qualify for either the Capital One Platinum card or the QuicksilverOne card, Capital One states that you will need at least fair credit. The Capital One Platinum card is stated as requiring a fair credit score while the QuicksilverOne card requires a fair-to-average credit score.

Fair credit is described by Capital One as “having defaulted on a loan in the past 5 years or having a limited credit history of less than 3 years.” Credit score creator FICO states that a fair score is a credit score that falls between 580 and 669. If you are at the low end, try for the Capital One Platinum card, and if at the high end, you may be approved for the QuicksilverOne card.

Before you apply for either card, you can find out if you have any card offers available to you with a risk-free tool. Using the CardMatch tool to find out if you have card offers already waiting for you does not involve a credit application or any hard inquiry on your credit report.

Entering and submitting minimal information will immediately tell you if you have offers available. Capital One also has an inquiry tool for card offers.

To learn more about how prequalified offers work, you’ll want to review the information in our article on the topic.

Bottom Line: You will need fair-to-average credit to qualify for either the Capital One Platinum card or the QuicksilverOne card. If you are closer to the low end of the range, apply for the Capital One Platinum card. If you are at the high end, you may qualify for the QuicksilverOne card, depending on your credit history. You can find out if you have prequalified card offers available to you by using a risk-free tool such as the CardMatch tool. 

Everything Else You Need To Know

Once you’ve managed your card well, you could be eligible to upgrade your card or receive an increased credit limit. We’ll talk about next-step Capital One cards shortly, but know that starting a relationship with Capital One and establishing a good credit track record will help you secure better cards with higher credit limits and greater benefits.

Both cards may be issued with minimum credit limits as low as $300. However, after 6 months of positive history, Capital One may grant you a higher limit.

Neither of our featured cards offers an introductory 0% interest credit card or balance transfers.

If you have poor credit and want to know which credit cards you might qualify for, check out our article on the best credit cards for bad credit and also our recommendations for the best secured cards.

Next-step Cards From Capital One

Capital One does a nice job of providing an expansive variety of cards that offer a solution to fit every consumer.

To illustrate, here is a sampling of Capital One cards that do not charge an annual fee.

Capital One Cards for Bad Credit or No Credit

• Capital One Platinum Secured Credit Card*×Information collected independently. Not reviewed by Capital One.

Capital One Cards for Average Credit

• Capital One Spark Classic for Business*×Information collected independently. Not reviewed by Capital One.

Capital One Cards for Excellent Credit

• Capital One Quicksilver Cash Rewards Credit Card*×Information collected independently. Not reviewed by Capital One.
• Capital One Spark Cash Plus Card*×Information collected independently. Not reviewed by Capital One.
• Capital One Spark Cash Select*×Information collected independently. Not reviewed by Capital One.
• Capital One Spark Miles for Business*×Information collected independently. Not reviewed by Capital One.
• Capital One Spark Miles Select for Business*×Information collected independently. Not reviewed by Capital One.
• Capital One VentureOne Rewards Credit Card*×Information collected independently. Not reviewed by Capital One.
• Capital One Venture Rewards Credit Card
• Capital One Venture X Rewards Credit Card

To learn more about the extensive lineup of rewards-earning cards offered by Capital One, you’ll want to review our list of some of the best cards.

Bottom Line: While our featured cards are designed primarily to build or rebuild credit, building a positive history with Capital One can allow you to upgrade to rewards-earning cards with higher earnings, greater benefits, and lower interest rates. 

Final Thoughts

If you need to build your credit and don’t want to pay an annual fee, the Capital One Platinum card may be better for you. If you want to improve your credit history and plan to spend more than $2,600 each year, enough to offset the annual fee on the QuicksilverOne card, that card may be the better choice.

Regardless of which card you select, if you plan to carry a balance between statement periods, you’ll be hit with interest charges that can be quite high. Neither card works well for carrying a balance.

If you have good-to-excellent credit, our featured cards are not for you. Explore some of the best rewards-earning credit cards.