The issuer of both Capital One® Quicksilver® Cash Rewards Credit Card and the Capital One® Platinum Credit Card is the same. However, these two cards are a world away as far as the advantages they offer and the reasons why a cardholder may select them, besides their association with Capital One.
Capital One Platinum vs Quicksilver– The Capital One Quicksilver card is designed for cardholders with excellent credit and is a cashback card with high-yield. For cardholders who use it normally, it offers a flat 1.5 percent cash back rate that can indicate huge investment funds.
The cardholders who need to build or rebuild their credit with capable use are the most suitable ones for The Capital One Platinum card as it is a simple, plain vanilla credit card. None of the rewards program and no sign-up bonus are offered by the card. Rather, its greatest selling point for the cardholders who are interested in rebuilding their credit: If you will pay your bill regularly on time for the straight half-year, in this way automatically your account will be reviewed for a credit limit increase.
Which Card is Best for you?
To select the most suitable card for you depends on what you are searching for in a credit card and how high your credit score is? Are you interested in any cash back card that rewards you for spending? Or on the other hand, would you rather go with a simple plain vanilla card which you can use to improve your credit with responsible use?
Capital One Quicksilver vs. Platinum card from Capital One
This is the thing that else to consider when taking a look at the two cards:
|REWARDS RATE||On general purchases, you will get 1.5 % cashback.|
|SIGNUP BONUS||In the first three months on spending $500, you will get a cashback amount of $150.|
|ANNUAL FEE||The Annual fee is none.|
|Estimated Yearly Rewards Value||For the people who spend $15,900, the estimated yearly rewards value is $288.|
- The foreign transaction fee is none
- There is no penalty rate
- As long as your account is active your rewards won’t expire
- There is no limit on earning the cashback amount
- Use your cash whenever you want in any way
- Cash cannot be transferred to the other rewards programs
Who Should Get this Card?
- The people interested in earning cashback
- The people having an excellent credit
|CAPITAL ONE PLATINUM CARD||Features|
|REWARDS RATE||The Rewards rate is none.|
|SIGNUP BONUS||No Signup bonus .|
|ANNUAL FEE||The Annual fee is $0.|
|Estimated Yearly Rewards Value||For the people who spend $15,900, the estimated yearly rewards value is $0.|
- The foreign transaction fee is none
- There is no penalty rate
- It is simple, plain vanilla credit card
- If you will pay your bill regularly on time for the straight half-year, automatically your account will be reviewed for high credit line
- No rewards program is offered
Who Should Get this Card?
- The people interested in simple credit card
- The people who is looking for building or rebuilding credit
How they’re similar
Both cards need fair credit for approval. To get approved you don’t need to stress over having a high credit score as both of these (Platinum and QuicksilverOne) cards are purposely designed to build credit. To be eligible for the card all you need is a fair credit score, normally a score above 580.
Both of them are unsecured credit cards. Without putting down a security deposit unsecured cards allow you to make purchases and establish your credit history, contrary to secured credit cards. However, the trade-off is usually a lower credit limit range this is a major addition if you would preferably not tie up money up front. Generally, the secured credit cards are easier for getting qualified.
Both provide you a chance at a higher credit limit. To manage your credit utilization successfully your credit limit can have a major impact- the amount of credit you are utilizing comparative with your total available credit. With both cards Platinum and QuicksilverOne, you may take a start with fairly low limit depending on your credit history, yet If you will pay your bill regularly on time for the straight half-year, automatically your account will be reviewed for a credit limit increase by Capital One.
How they’re different
Rewards. You may not only have a chance to build credit but also on every purchase you make you can earn 1.5% cash back as the QuicksilverOne is a flat rate cash back credit card. To outmatch the annual fee you can earn enough cash back and in addition to this, you can find higher Quicksilver One card rates.
Annual fee. Without planning for an annual bill, you can spend freely as The Capital One Platinum accompanies no annual fee. If you are attempting to build your credit on a strict spending plan then the lack of an annual fee might be particularly engaging.
Best for Someone who wants to Earn Cash Back: Quicksilver Rewards Card
The Quicksilver rewards card is an unmistakable victor if you are planning to earn rewards close by your spending. The cardholders who want to earn a huge amount back however don’t have any desire to invest in a ton of energy into their earnings are the ideal ones for this low maintenance cashback card. There is no need to keep track of rewards categories or to stress over whether you will win a reward with your spending since the Quicksilver card gives you 1.5% money back regardless of what you are purchasing.
For instance, you will earn $180 through the span of the year if you charge $1,000 per month, by just swiping your card.
Best for Someone who wants a Simple Card without Rewards: Platinum Card
For the people who do not use their card normally or who might be tempted to charge beyond what they can afford the platinum card is a superior pick for them.
The Platinum card, which is a simple, no-frills credit card, may urge you to be more traditionalist with your spending because rewards programs and 0-percent interest promotions can make overspending more enticing. Likewise, individuals who don’t use credit cards frequently will in general like plain, vanilla cards since they’re more simple than rewards cards.
After considering all the points it is said that the cardholders who have average credit, its finance charges are steep are the suitable ones for the Platinum card. Go for a low rate credit card if your credit is excellent for example PNC Bank’s Core Visa or U.S. Bank Visa Platinum card.
Best for Someone who wants to Rebuild Credit: Platinum Card
The Platinum card is a good option for cardholders who are simply beginning to utilize credit or who wants to rebuild their credit score. It does not charge an annual fee, nor does it charge a penalty fee in contrast to certain contenders. In case due to some reasons you miss your payments repeatedly, you won’t be astounded with a higher loan fee than you were anticipating.
The Platinum card also postpones the foreign transaction fees like all Capital One credit cards. An uncommon advantage for a card focused on the consumers with damaged credit. Moreover, if you will pay your bill regularly on time for the straight half-year, in this way automatically your account will be reviewed for a credit limit increase, which could beneficially affect your credit score. Since it is hard enough for the consumers with damaged scores to get larger credit limits that perk alone is worth very much.
Best for Someone with Excellent Credit: Quicksilver Card
Picking the Quicksilver card over the Platinum card is an easy decision if you have excellent credit. Not exclusively will the interest probably be lower, yet a large number of the advantages – including no penalty APR rate and zero transaction fee will be similar.
You might need to consider the Capital One® QuicksilverOne® Cash Rewards Credit Card if your credit score is not sufficiently high to get yourself qualified for a Quicksilver card, yet you’d prefer to earn with your spending. On all the purchases this card is offering a 1.5% cashback rate, however it is intended for cardholders with average credit. The main proviso: It charges an annual fee of $39 in addition to a higher minimum APR, which can essentially cut into your overall earnings. For instance, you will earn roughly $54 if you charge around $300 every month through the span of the year. Moreover, you will earn only around $15, if you factor in the annual fee.
Which Card Should You Choose?
For daily spending, you can use your Quicksilver card if your credit score is excellent as it is a great low-maintenance cashback card. Moreover, if you want to build your credit or just want to have a plain, no-frills card then the Platinum card is suitable for you with some appealing features.
It is not a good option to carry a balance, as the finance charges of the Platinum card are high. The platinum card is a decent choice; in any case, you need assistance for getting qualified for a larger credit limit, consequently improving your credit score or simply need a plain vanilla card to show that you pay your bills regularly on time.