Although issued by the same bank, the Capital One Platinum Credit Card and the Capital One Quicksilver Cash Rewards Credit Card are designed for different types of cardholders.
Capital One Platinum has a lower recommended credit score range, making it a good card if you want to build your credit through responsible use and on-time payments.
Capital One Quicksilver makes sense if you want to earn cash back rewards and take advantage of introductory 0% APR offers. It also doesn’t charge foreign transaction fees, making it a great card for international travel.
Capital One Platinum and Capital One Quicksilver have a $0 annual fee. Since both cards lack an annual fee, it’s a tie.
Capital One Platinum doesn’t have a welcome bonus, while Capital One Quicksilver comes with a $100 credit to use on flights, stays, and rental cars booked through Capital One Travel during your first year of cardmembership, plus a $200 cash bonus after you spend $500 within the first three months of account opening.
Capital One Platinum does not have a rewards program, meaning there is no opportunity to earn back a percentage of your spending. Without the power to earn rewards, there are options to earn statement credits or other valuable rewards.
With Capital One Quicksilver, you can earn 5% cash back on hotels and rental cars booked through Capital One Travel and 1.5% cash back on all other eligible purchases.
You can redeem your Quicksilver cash back for statement credits, checks, gift cards, Capital One Travel reservations, coverage of past purchases, and more.
Capital One Platinum does not come with any 0% intro APR offers on purchases or balance transfers.
Capital One Quicksilver comes with these introductory 0% APR offers:
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Introductory APR on purchases: 0% introductory APR on purchases for 15 months (then 18.99% to 28.99% variable APR).
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Introductory APR on balance transfers: 0% introductory APR on balance transfers for 15 months (then 18.99% to 28.99% variable APR).
Initial APR offers can be useful if you have a major purchase coming up or if you want to pay off any existing debt without accruing interest during the offer period.
Aside from the ability to build credit with Capital One Platinum and earn rewards with Quicksilver, the two cards offer relatively few additional benefits.
Capital One Platinum offers automatic credit line reviews where you can be considered for a higher line of credit in as little as six months. This is helpful when you’re trying to build your credit, as moving up to a higher credit limit can help reduce the risk of having a high credit utilization ratio (you generally want to use a low percentage of your total available credit to avoid a negative impact on your credit score).
Capital One Quicksilver carries no foreign transaction fees, which is unusual for a cash back card. This gives you the freedom to use your card on foreign trips or other international expenses, without having to worry about a surcharge each time.
Neither of these benefits is necessarily better than the other, as the best card benefit for you depends on your needs and preferences.
Here are the recommended credit scores for Capital One Platinum and Quicksilver:
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Capital One Platinum Card: fair, good
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Capital One Quicksilver Card: Good, excellent
Based on these suggested ranges, Capital One Platinum is more accessible to a broader range of applicants. If you have fair or better credit, you may qualify.
However, there is no guarantee that you will be approved for these credit cards if you apply for them, even if you have a credit score that falls within the recommended range. Whether you qualify depends on the credit card issuer and certain creditworthiness factors, which could include your credit history and income. Both cards offer a prequalification tool that allows you to check the likelihood of approval before applying, without impacting your credit with a formal inquiry.
You want to build stronger credit and aren’t yet eligible for rewards credit cards that typically require a good to excellent credit score. Capital One Platinum is a simple card that can help you build credit. Although it doesn’t earn rewards or provide additional benefits, building credit is a worthwhile goal and this card is a potential stepping stone on your path to qualifying for credit products with more benefits.
You have a strong credit profile and want an easy rewards card to earn cash back on all your purchases. Capital One Quicksilver could also benefit you if you can take advantage of the card’s introductory 0% APR offers, whether on purchases or balance transfers.
There is no reason to have both credit cards. If you qualify for Capital One Quicksilver, it’s a better option than Platinum because you earn rewards for your spending, have a welcome offer, an introductory APR offer, and other useful benefits.
If you don’t qualify for Capital One Quicksilver due to its credit score requirements, Capital One Platinum could be an ideal option to help you build your credit profile enough to be eligible for better credit cards in the future.
Here are some other credit cards we like, whether you’re looking for a starter card to build credit or want to earn cash back.
- Annual fee
$0
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welcome offer
Earn a $200 bonus after you spend $500 in your first 3 months
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APR for introductory purchases
0% introductory APR on purchases for 15 months
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APR on current purchases
18.74% – 28.24% Variables
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Introductory Balance Transfer APR
0% introductory APR on balance transfers for 15 months
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Ongoing Balance Transfer APR
18.74% – 28.24% Variables
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Reward Rate
- Enjoy 5% cash back on travel purchased through Chase Travel℠
- 3% cash back on drugstore purchases and restaurant dining (includes eligible takeout and delivery)
- 1.5% on all other purchases
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Benefits
- You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts.
- Chase Credit Journey helps you monitor your credit with free access to your latest score, alerts, and more
- Generous introductory APR on purchases and balance transfers
Why we like it: The Chase Freedom Unlimited is also a no-annual-fee cash-back credit card like the Capital One Quicksilver, but it adds more everyday spending categories eligible for bonus rewards. With these additional bonus categories, Freedom Unlimited is the most rewarding option.
Read our full Chase Freedom Unlimited review
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Annual fee
$0
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welcome offer
Limited time offer: Earn $300 in welcome bonuses. Enjoy a $100 credit to use on flights, stays and rental cars booked through Capital One Travel during your first year of card membership, plus earn a $200 cash bonus once you spend $500 on purchases within the first 3 months.
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Introductory APR
0% introductory APR on purchases and balance transfers for 12 months, then variable 19.24% – 29.24% APR
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Purchase APR
19.24% – 29.24% variable
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Reward Rate
- 8% Cash Back on Capital One Entertainment Purchases
- 5% cash back on hotels, vacation rentals and rental cars booked through Capital One Travel
- 3% cash back on dining, entertainment, popular streaming services, and at grocery stores (excluding big box stores like Walmart and Target)
- 1% cash back on all other purchases
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Benefits
- Generous introductory APR on purchases and balance transfers for the first 12 months
- No foreign transaction fees
Why we like it: Capital One Savor Cash is a great cash back card for food and fun purchases. It doesn’t have the same base win rate as Capital One Quicksilver, but it makes up for it (somewhat) with its high bonus category rates. To earn rewards on dining and entertainment, the $0 annual fee Capital One Savor is one of the best options available for the price.
Read our full Capital One Savor Cash review
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Annual fee
$0
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welcome offer
None
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Purchase APR
29.74% variable
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Reward Rate
- 5% unlimited cash back on hotels, vacation rentals and rental cars booked through Capital One Travel
- Unlimited 1.5% cash back on every purchase, anywhere
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Benefits
- No annual or hidden fees; see if you are approved in seconds
- Get your $200 security deposit back as a statement credit when you follow card usage best practices, like making on-time payments
- Automatically be considered for higher credit in six months with no additional deposit
Why we like it: Capital One Quicksilver Secured helps you build your credit without needing great credit to qualify. Quicksilver Secured also earns the same cash back rewards rates as its unsecured sister card, Quicksilver, on all your spending. The possible disadvantage of secured credit cards is that you must pay an upfront security deposit that acts as the same as your line of credit. Fortunately, with responsible use over time, your deposit can be refunded and your card converted to the unsecured version.
Read our full Capital One Quicksilver Secured review
Editorial Disclosure: The information contained in this article has not been reviewed or approved by any advertiser. All opinions are solely those of Yahoo Finance and are not those of any other entity. Details about financial products, including card rates and fees, are accurate as of the date of publication. All products or services are presented without warranty. Check the bank’s website for the most up-to-date information. This site does not include all offers currently available. Credit score alone does not guarantee or imply approval for any financial product.