Key takeaways
- Whereas the identical issuer is behind the Capital One Quicksilver Money Rewards Credit score Card and Capital One Platinum Credit score Card, the similarities between the 2 playing cards are few and much between.
- The Capital One Quicksilver is a money again rewards card meant for shoppers with glorious credit score, whereas the Capital One Platinum is a credit-builder card designed for shoppers with honest credit score.
- The huge variations between these two playing cards make each geared towards a special kind of cardholder.
The Capital One Quicksilver Money Rewards Credit score Card and Capital One Platinum Credit score Card could come from the identical issuer, however these playing cards are geared towards two various kinds of cardholders.
For starters, the Capital One Quicksilver is an easy-to-use money again rewards card meant for shoppers with good to glorious credit score. With this card, you’ll earn an infinite 1.5 % money again on on a regular basis purchases, together with extra rewards on choose journey purchases.
In contrast, Capital One Platinum is a credit-builder card designed for shoppers with honest to good credit score. The Platinum card additionally provides cardholders the chance for a credit score restrict enhance if the invoice is paid on time for at the very least six months.
To resolve which choice works greatest for you, it will possibly assist to match the options, advantages and costs of those two playing cards.
Most important particulars
| Options | Capital One Quicksilver | Capital One Platinum |
|---|---|---|
| Annual charge | $0 | $0 |
| Welcome bonus | $200 money bonus after spending $500 on purchases inside the first three months | None |
| Rewards | Limitless 1.5% money again on on a regular basis purchases; 5% again on resorts and rental automobiles booked by Capital One Journey | None |
| Intro APR | 0% intro APR on purchases and stability transfersfor 15 months | None |
| Variable APR | 19.99% to 29.99% | 29.99% |
Capital One Platinum vs. Capital One Quicksilver highlights
Deciding which of those two playing cards deserves a spot in your pockets will seemingly be decided by your credit score rating and the advantages you need in a bank card.
In case your credit score rating is decrease than you desire to it to be and also you need a card that helps you construct a extra sturdy credit score profile with accountable use, the Platinum card could higher serve your wants. Nonetheless, if you have already got stable credit score and need money again rewards or a 0 % intro APR provide, the Capital One Quicksilver may match the invoice.
Listed below are some elements to think about as you examine the 2 playing cards:
Welcome bonus winner
Rewards fee winner
Which card earns probably the most?
The Capital One Platinum focuses on serving to you construct credit score, so it doesn’t provide a money again program. In the meantime, Capital One Quicksilver delivers 1.5 % money again on each buy, with no limits, making it simple to earn extra.
Capital One Quicksilver vs. Capital One Platinum spending instance
With the Capital One Quicksilver’s limitless 1.5 % money again fee, you’ll earn $15 for each $1,000 you spend utilizing this card. Listed below are some tips as an example your potential earnings with the Quicksilver:
| Spending quantity | Capital One Quicksilver |
|---|---|
| $1,000 per 30 days | $15/month or $180/yr |
| $1,500 per 30 days | $22.50/month or $270/yr |
| $2,000 per 30 days | $30/month or $360/yr |
| $2,500 per 30 days | $37.50/month or $450/yr |
| $3,000 per 30 days | $45/month or $540/yr |
Whereas it’s good to earn money again, it’s necessary to pay your excellent stability in full every month, or curiosity fees will minimize into any money rewards you earn.
Why do you have to get the Capital One Quicksilver?
You must take into account the Capital One Quicksilver if you have already got good or glorious credit score and wish to get money again on your purchases with out leaping by hoops. Plus, in case you have a big buy developing or need to pay down present high-interest debt, the Quicksilver’s zero-interest provide on purchases and stability transfers could also be a superb match for you (19.99 % to 29.99 % ongoing variable APR thereafter).
Extra advantages
The Capital One Quicksilver gives Mastercard advantages like $0 fraud legal responsibility and identification theft safety. Different advantages embody journey accident insurance coverage, journey help companies, prolonged guarantee safety and, by Nov. 14, 2024, as much as six months of complimentary Uber One membership.
Like many bank cards, the Quicksilver means that you can freeze your account if you happen to misplace your card. Nonetheless, the Quicksilver is likely one of the few playing cards that allows you to use your cellular app to activate the freeze. Moreover, you possibly can create a digital bank card quantity linked to your account to maintain your bank card data secure.
Redemption choices
Firstly, you possibly can redeem rewards within the type of an announcement credit score or verify. The Quicksilver even means that you can arrange computerized redemptions at a set time through the yr or when your rewards attain a specified threshold.
You may as well redeem your rewards as credit for earlier purchases, present playing cards and PayPal or Amazon purchases.
Moreover — and probably for probably the most worth — you possibly can convert your Quicksilver rewards into Capital One miles if you happen to additionally maintain a miles-earning card just like the Capital One Enterprise Rewards Credit score Card.
Beneficial credit score rating
The Capital One Quicksilver is obtainable to debtors with good to glorious credit score scores. As such, you must have a FICO rating above 670 or a VantageScore above 661.
Why do you have to get the Capital One Platinum?
In case your credit score scores are under common and also you need to construct your credit score, take into account the Capital One Platinum. The Platinum is a good starter card for somebody with a skinny credit score profile or these trying to rebuild their credit score.
The Capital One Platinum doesn’t cost an annual charge or require a excessive credit score rating. As a brand new cardholder, your credit score restrict could also be low, however Capital One will routinely take into account you for the next credit score restrict in as little as six months. Even if you happen to don’t use the upper credit score restrict, you might decrease your credit score utilization ratio, which may positively impression your credit score scores.
Extra advantages
Similar to the Quicksilver card, the Capital One Platinum is a Mastercard. This implies you’ll get helpful Mastercard advantages like zero legal responsibility safety, emergency card companies, identification theft safety and extra.
Different Platinum advantages embody entry to CreditWise (you get entry to this with the Quicksilver, too), which provides a free have a look at your credit score rating.
Redemption choices
The Capital One Platinum doesn’t provide a rewards program. The Platinum is greatest fitted to shoppers who need a hassle-free card that may assist construct credit score.
Beneficial credit score rating
Capital One suggests {that a} honest credit score rating is required to qualify for the Platinum card. Typically, a good credit score rating falls between 580 and 669 for FICO and 601 to 660 for VantageScore. Whereas no credit score rating can assure you’ll be granted a bank card, your odds of approval enhance with the next rating.
The underside line
When evaluating these two Capital One playing cards, your resolution seemingly rests on the energy of your credit score rating and what options you need your card to supply. In the event you’re in search of a easy, no-frills card that’ll provide help to enhance your credit score (with accountable use), the Capital One Platinum is an efficient choice.
But when you have already got glorious credit score and are in search of a card that rewards you with money again on your spending — with no limits — the Capital One Quicksilver might be a wonderful addition to your pockets. There aren’t any rotating classes or promotion activations to fret about, and you’ll even automate your redemptions.
In the event you’re nonetheless not sure about both of those playing cards, discover one of the best playing cards for each kind of cardholder to get a way of your different choices.
