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

Capital One Bank Union Square Flagship at night

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We spend a lot of time here at Upgraded Points discussing rewards-earning card topics such as how to earn lots of rewards, how to get the best value for those points/miles/cash-back, and which credit cards are best suited for specific purchase categories.

In reality, 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 beginning 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.

Let’s take a look at how these cards function and if either might be a consideration for your situation.

Minimum Qualification Requirements

To qualify for either the CapOne Platinum card or the QuicksilverOne card, Capital One states that you will need at least fair, or better, credit. The CapOne 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 CapOne 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 CapOne Platinum card or the QuicksilverOne card. If you are closer to the low end of the fair credit score range, apply for the CapOne Platinum card. If you are at the high end of the fair credit score range, depending on your credit history, it is possible you may qualify for the QuicksilverOne card. You can find out if you have prequalified card offers available to you by using a risk-free tool such as the CardMatch tool

Earning Rewards

The CapOne 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 CapOne QuicksilverOne card, the earnings would offset the cost of the annual fee. If not, the CapOne 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 on the card, the QuicksilverOne card could be the better card as it earns 1.5% cash-back on every purchase, offsetting the $39 annual fee. If you plan to spend less, the CapOne 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 CapOne 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 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. 

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-issued cards shortly, but just 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 5 to 6 months of positive history, Capital One may grant you a higher limit.

Neither of our featured cards offers any introductory 0% APR period for either purchases or balance transfers.

If you have bad 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 VentureOne Rewards Credit Card
A positive relationship with Capital One can lead to upgrading your card to one that offers elevated rewards and travel and shopping benefits. Image Credit:

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 Cards for Average Credit

Capital One Cards for Excellent Credit

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.

Establishing a well-managed financial relationship with Capital One can lead to upgrading from the CapOne Platinum card or the QuicksilverOne card.

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 just need to build your credit and don’t want to pay an annual fee, the CapOne Platinum card may be the better card. If you want to improve your credit history and plan to spend greater than $2,600 each year, enough to offset the annual fee on the QuicksilverOne card, this 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 here.

The information regarding the Capital One Spark Classic for Business, Capital One Quicksilver card, Capital One Savor Rewards card, Capital One Spark Cash for Business, Capital One Spark Cash Select for Business, Capital One Spark Miles for Business, Capital One Spark Miles Select for Business, and Capital One VentureOne Rewards card was independently collected by Upgraded Points and not provided nor reviewed by the issuer. 

Frequently asked questions

What is the difference between the Capital One Platinum card and the Capital One QuicksilverOne card?

The basic difference between the CapOne Platinum card and the QuicksilverOne card is that the no-annual-fee CapOne Platinum card does not earn rewards while the QuicksilverOne card earns 1.5% cash-back on every purchase. The QuicksilverOne card, however, charges an annual fee of $39.

The other difference is that you are more likely to be approved for the QuicksilverOne card with a slightly higher credit score. You can find out in advance if you have preselected card offers waiting for you by using the CardMatch tool.

What is the credit limit on the Capital One Platinum card?

The initial credit limit is stated to be $300. After 5 months of positive history, Capital One will review your account and could give you access to a higher limit.

You can also call and request a higher credit limit after months of positive history.

Which is better, the Capital One Platinum card or the QuicksilverOne card?

If you want to build your credit but don’t want to pay an annual fee, the CapOne Platinum card could work for you. If you prefer a card that earns rewards, the QuicksilverOne card could be a better choice with its 1.5% cash-back earnings on every purchase.

The QuicksilverOne card does charge an annual fee of $39, so you would need to spend approximately $2,600 per year to offset the annual fee.

Can I upgrade from the Capital One Platinum card to the QuicksilverOne card?

After establishing a positive history with Captial One, you may receive an offer to upgrade your CapOne Platinum card. You can also call Capital One and request an upgrade.

Christine Krzyszton

About Christine Krzyszton

Christine, who lives in Northern Michigan, travels about 300,000 miles a year despite her remote location. Her expertise is traveling the world on a weekend with no pre-determined destination in mind, letting the cost of the airfare determine where she will go. She has over four million flown miles and elite status on all three major domestic carriers.

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