Capital One Platinum Credit Card vs. Capital One Quicksilver Cash Rewards Credit Card: Only One Offers Spending Rewards

If you’re just getting started building credit, the Capital One Platinum Credit Card can be a smart choice. Overall, the Capital One Quicksilver Cash Rewards Credit Card offers many more features — if you qualify.

Deciding between the Capital One Platinum and Capital One Quicksilver card may be fairly simple, as it primarily comes down to your creditworthiness. If you want to earn credit card rewards, there’s a clear answer, but the Capital One Quicksilver won’t be the right fit for everyone.

Capital One Platinum vs. Capital One Quicksilver

The Capital One Platinum credit card offers no rewards and almost no benefits. Still, it can be useful for increasing your credit score through responsible use, such as making on-time payments to build a positive credit history.

On the other hand, the Capital One Quicksilver credit card offers a slew of perks, including a welcome bonus, cashback opportunities, and World Elite Mastercard benefits, such as concierge services and extended warranty protection.

	Capital One Platinum Credit Card	Capital One Quicksilver Cash Rewards Credit Card
Card type	Building credit	Cash back/Balance transfer
Star ratings	4.4 FinanceBuzz writers and editors score cards based on a number of objective features as well as our expert editorial assessment. Our partners do not influence how we rate products.	4.5 FinanceBuzz writers and editors score cards based on a number of objective features as well as our expert editorial assessment. Our partners do not influence how we rate products.
FinanceBuzz value calculation1	Year 1: $0 Year 2: $0	Year 1: $763 Year 2: $563
Annual fee	$0	$0
Early spend bonus	None	Earn a one-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening
Earning rate	None	1.5% cash back on every purchase, every day; and 5% cash back on hotels and rental cars booked through Capital One Travel (terms apply)
Intro APR	None	0% intro APR for 15 months on purchases, then 19.74% - 29.74% (variable) APR 0% intro APR for 15 months on balance transfers, then 19.74% - 29.74% (variable) APR; Balance transfer fee applies
Foreign transaction fee	None	None
Credit needed	Fair	Excellent, Good
	Learn More	Learn More

When to go with the Capital One Platinum card

The Capital One Platinum card may be best in limited cases, like if:

• You don’t have good or excellent credit
• You want a simple, no-frills card

Credit score

The Capital One Platinum card generally only fits if your credit falls in the fair range, which according to FICO is a score of 580-669. You may not have had much time to build up credit history or perhaps you’ve had other reasons for a lower credit score.

That’s when going for a card that’s easier to qualify for is a good idea. You can focus on making on-time payments and not overusing your credit line. Missing out on credit card rewards isn’t a big deal in this case — building a stronger credit profile is more important.

Even if your score falls into that range, keep in mind that having a certain credit score doesn’t guarantee acceptance, and issuers look at a range of factors, including your income and overall debt.

Simple needs

You may not want to think about earning or redeeming card rewards. If your primary goal is to have a reliable credit card that serves your needs with a $0 annual fee, the Capital One Platinum can get the job done.

This is hard for me to imagine, though, because earning cash back with a credit card isn’t complicated. If or when you can qualify for even a basic rewards card, it’s worth taking a few minutes to understand the rewards system because otherwise, you’re leaving money on the table.

When to go with the Capital One Quicksilver Cash Rewards card

We’ve already established that the Capital One Quicksilver Cash Rewards gives you more, but here are more details about when you should choose this one.

• You have a good or excellent credit score
• You want to earn cash rewards
• You can earn a welcome bonus
• You want to do a balance transfer
• You want World Elite Mastercard benefits

Qualifying credit score

It’s pretty simple — if you can potentially qualify for the Capital One Quicksilver because your credit score is in the good or excellent range (at least 670 according to FICO), you should pick this card. There are minimal downsides, given that the Quicksilver Cash Rewards card has a $0 annual fee and more benefits. Again, having that credit score isn’t a guarantee of acceptance.

Cash rewards

The Capital One Quicksilver is the clear winner when it comes to cash rewards, since the Capital One Platinum gives you no rewards for your spending. Earn a flat cashback rate on spending with the Capital One Quicksilver Cash Rewards card, essentially discounting all of your purchases. The rewards are easy to redeem for cash or statement credits and other items as well.

Welcome bonus

Although welcome offers change from time to time, it’s usually best to open up a rewards card that also gives you some sort of welcome bonus. I always make sure I can meet the minimum spending requirement to earn the bonus for a new card. Again, the Capital One Quicksilver Cash Rewards card beats the Capital One Platinum, since you can earn extra cash for your regular spending.

Introductory APR

Although there’s a balance transfer fee of $5 or 5% of the amount of each transfer, whichever is greater, if you carry a higher-interest balance, you could transfer it to the Capital One Quicksilver Cash Rewards and get 15 months with a 0% intro APR on balance transfers (then 19.74% - 29.74% (Variable)). It could give you time to pay down an outstanding balance without adding to your interest charges.

World Elite Mastercard benefits

Capital One Quicksilver has a history with both the Visa and Mastercard payment networks. If your application page shows a Mastercard logo and you’re approved, you’ll likely receive the World Elite Mastercard version of the Quicksilver.

This means your card may come with benefits such as purchase assurance, travel accident insurance, baggage delay and damage/loss insurance, and trip interruption or cancellation insurance.

Where both cards are equal

The Capital One Platinum and Quicksilver credit cards both excel in these areas:

• Annual fee: Capital One Platinum has a $0 annual fee, and Capital One Quicksilver has a $0 annual fee.
• Building credit: Capital One Platinum and Quicksilver may help improve your credit score if you qualify for one of them and responsibly use it to make purchases and on-time payments.
• Credit line increase: Capital One allows you to request credit line increases without harming your credit score, as long as your account isn’t too new, you haven’t received a credit line increase or decrease in the past few months, and your card isn’t a secured credit card.
• CreditWise: This is a free tool from Capital One that may help you monitor important credit information, including receiving alerts about TransUnion credit report changes.
• No foreign transaction fees: The Capital One Platinum and Quicksilver aren’t considered travel credit cards, but neither have foreign transaction fees. This can help international travelers avoid these additional costs.

For more travel-focused credit cards, check out our best travel credit cards list.

Which card should you choose?

If I were seeking a simple no-annual fee credit card, I’d definitely pick the Capital One Quicksilver over the Capital One Platinum. It offers rewards, a welcome bonus, redemption options, intro APR offers, and travel and entertainment benefits.

That said, you may apply Capital One Platinum over Quicksilver if your credit score isn’t good or excellent. Getting approved for a Capital One Platinum credit card could help you improve your credit score (and you’ll want to eventually qualify for cards with significant perks).

FAQs

Bottom line

The Capital One Quicksilver credit card is easily the better credit card compared to the Capital One Platinum card. It has the majority of factors you’d want in a rewards credit card, including a welcome offer, a decent earning rate, and intro APR offers.

Capital One Platinum doesn’t have any of these benefits. But it could be worthwhile if you can’t get approved for Quicksilver and need a credit card to help increase your credit score.

If these cards don’t seem to be the right fit for you, check out our recommended picks to compare credit cards.

Lucrative, Flat-Rate Cash Rewards

Wells Fargo Active Cash^® Card

5.0

FinanceBuzz writers and editors score cards based on a number of objective features as well as our expert editorial assessment. Our partners do not influence how we rate products.

Wells Fargo Active Cash^® Card

Apply Now

Rates and fees

Current Offer

$200 cash rewards bonus after spending $500 in purchases in the first 3 months

Annual Fee

$0

Rewards Rate

Earn unlimited 2% cash rewards on purchases

Benefits and Drawbacks

Benefits

• Low spend threshold for its welcome offer — $200 cash rewards bonus after spending $500 in purchases in the first 3 months
• Cell phone protection benefit (subject to a $25 deductible)
• Can redeem rewards at an ATM for literal cash

Drawbacks

• Foreign transaction fee of 3%
• No bonus categories

Card Details

• Select “Apply Now” to take advantage of this specific offer and learn more about product features, terms and conditions.
• Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
• Earn unlimited 2% cash rewards on purchases.
• 0% intro APR for 12 months from account opening on purchases and qualifying balance transfers. 19.49%, 24.49%, or 29.49% Variable APR thereafter; balance transfers made within 120 days qualify for the intro rate and fee of 3% then a BT fee of up to 5%, min: $5.
• $0 annual fee.
• No categories to track or remember and cash rewards don’t expire as long as your account remains open.
• Find tickets to top sports and entertainment events, book travel, make dinner reservations and more with your complimentary 24/7 Visa Signature® Concierge.
• Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.