Capital One Quicksilver Cash Rewards Credit Card
Capital One Quicksilver Cash Rewards Credit Card
Earn unlimited 1.5% cash back on every purchase, every day. Earn 5% cash back on hotels and rental cars booked through Capital One Travel
Welcome Bonus
$200
Annual Fee
$0
Credit Score
Excellent, Good
Regular APR
19.99% - 29.99% (Variable)
Capital One Platinum Credit Card
Capital One Platinum Credit Card
Welcome Bonus
N/A
Annual Fee
$0
Credit Score
Average, Fair, Limited
Regular APR
29.99% (Variable)
Shopping for a new credit card with no annual fee? Maybe you’re looking for a no-hassle rewards card or perhaps you’re looking for a credit card to reestablish your credit rating. Or you could be attracted to the fact that Capital One has no foreign transaction fees on any of its credit cards. In every case, Capital One offers a suite of credit cards that are attractive to a large swath of consumers. Two of those credit cards are the Capital One Platinum Credit Card (rates & fees) and Capital One Quicksilver Cash Rewards Credit Card (rates & fees).
Capital One Platinum vs. Capital One Quicksilver Overview
| Capital One Platinum Credit Card | Capital One Quicksilver Cash Rewards Credit Card | |
|---|---|---|
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Annual Fee
|
$0 (rates & fees)
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$0 (rates & fees)
|
|
Rewards
|
This card does not earn rewards
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1.5% cash back on every purchase and 5% cash back on hotels and rental cars booked through Capital One Travel
|
|
Welcome Bonus
|
This card does not offer a welcome bonus
|
$200 cash bonus after spending $500 on purchases within 3 months from account opening
|
|
APR
|
29.99% Variable APR for purchases and balance transfers
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0% intro APR on purchases and balance transfers for 15 months, 19.99% - 29.99% variable APR after that; 3% balance transfer fee for the first 15 months, 4% at a promotional APR that Capital One may offer you
|
|
Foreign Transaction Fees
|
None
|
None
|
|
Other Benefits
|
High 29.99% (Variable) regular APR, but marketed toward those with fair credit
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Requires excellent credit, but provides access to Capital One Travel and more
|
Welcome Bonus
While the Capital One Quicksilver offers cardholders an opportunity to earn a $200 cash bonus after spending $500 on purchases within 3 months from account opening, cardholders of the Capital One Platinum aren’t provided a welcome bonus opportunity.
The Capital One Quicksilver’s welcome bonus is by no means among the most generous bonuses out there, but it is on-par for no annual fee cards requiring excellent credit and is ideal if you do not spend much money on credit cards.
Capital One Platinum Credit Card
Welcome Bonus
N/A
Annual Fee
$0
Regular APR
29.99% (Variable)
Credit Score
Average, Fair, Limited
If you’ve got fair credit, the Capital One Platinum Credit Card offers a no-frills path to get back on your feet. Since there’s no annual fee, this can be a low cost option if you make your payments on time and don’t carry a balance. Given the shockingly high APR, it’s wise to use the card for everyday expenses and pay the balance in full.
- No foreign transaction fees
- Applicants with fair credit may be approved
- Increased credit line possible in as little as 6 months
- Very high variable APR
- No rewards program
- No welcome bonus or intro APR offer
- Cash advance fee
- No annual or hidden fees. See if you’re approved in seconds
- Be automatically considered for a higher credit line in as little as 6 months
- Help build your credit through responsible use of a card like this
- Enjoy peace of mind with $0 Fraud Liability so that you won’t be responsible for unauthorized charges
- Monitor your credit score with CreditWise from Capital One. It’s free for everyone
- Get access to your account 24 hours a day, 7 days a week with online banking from your desktop or smartphone, with Capital One’s mobile app
- Check out quickly and securely with a contactless card, without touching a terminal or handing your card to a cashier. Just hover your card over a contactless reader, wait for the confirmation, and you’re all set
- Pay by check, online or at a local branch, all with no fee – and pick the monthly due date that works best for you
Annual Fee
Neither the Capital One Platinum (rates & fees) nor the Capital One Quicksilver (rates & fees) charges an annual fee.
Earning Rewards
The Capital One Platinum does not offer rewards, but the Capital One Quicksilver provides cardholders the ability to earn 1.5% cash back on every purchase and 5% cash back on hotels and rental cars booked through Capital One Travel. There is no limit to the amount of rewards you can earn with the Capital One Quicksilver Cash Rewards Credit Card. Many cards require a minimum rewards redemption, but the Quicksilver allows you to redeem rewards in any amount. If you want no-hassle cash-back rewards, the Capital One Quicksilver Cash Rewards Credit Card is a sufficient choice.
For those whose credit permits, the Capital One Quicksilver is the obvious choice when it comes to earning rewards for purchases with a credit card.
Capital One Quicksilver Cash Rewards Credit Card
This card is a good value all-rounder, offering an intro APR period, no annual fee and a simple 1.5% unlimited cashback rate on all purchases.
- No spending category enrollment
- No cash-back rewards limits
- No foreign transaction fees
- Low spending requirement to earn welcome bonus
- High regular APR
- Earn a one-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening
- Earn unlimited 1.5% cash back on every purchase, every day
- $0 annual fee and no foreign transaction fees
- Enjoy up to 6 months of complimentary Uber One membership statement credits through 11/14/2024
- Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you’ll get Capital One’s best prices on thousands of trip options. Terms apply
- No rotating categories or sign-ups needed to earn cash rewards; plus, cash back won’t expire for the life of the account and there’s no limit to how much you can earn
- 0% intro APR on purchases and balance transfers for 15 months; 19.99% – 29.99% variable APR after that; balance transfer fee applies
Introductory APRs
The Capital One Platinum (rates & fees) does not offer an introductory APR, but the Capital One Quicksilver offers a 0% intro APR on purchases and balance transfers for 15 months, 19.99% - 29.99% variable APR after that; 3% balance transfer fee for the first 15 months, 4% at a promotional APR that Capital One may offer you (rates & fees). For those who seek an introductory APR and whose credit permits, the Capital One Quicksilver is again the obvious choice.
Our lists of the best balance transfer cards and the best 0% introductory APR cards may help you compare the Capital One Quicksilver to other low introductory APR options.
Credit-Building Benefits
The Capital One Platinum Credit Card is specifically designed to be a product for people working on improving their credit. As such, Capital One offers this card to people who have fair credit. Capital One also allows you to check to see if you are preapproved for this card, with no impact to your credit score.
If you have defaulted on a loan in the past five years, have limited credit history or have had access to credit for less than three years, the Capital One Platinum Mastercard may still be an option for you.
If your primary objective is to work on rebuilding your credit, the Capital One Platinum Credit Card might be the better card for you.
The Capital One Quicksilver, on the other hand, is advertised to require good or excellent credit and offers rewards and benefits to reward those who qualify.
Pre-Approval Process
Most credit card issuers check only one of your credit reports, but Capital One is unique among major credit card issuers in that it frequently checks all three major credit bureau reports.
When a bank checks your credit report as part of a credit application, it generates an inquiry record so other lenders checking your credit report can see you were shopping for credit. An inquiry on your credit report usually results in a small drop in your credit score, and if you are looking to establish your credit you may be more sensitive to even a score drop of a few points.
Fortunately, Capital One will allow prospective customers to check for preapproval for the card they’re interested in. This means that you can gauge your chances of being approved for the card with no negative impact to your credit score. If you are interested in pursuing preapproval you should do so with Capital One directly. Applications originating from this page will result in a hard credit inquiry.
No Foreign Transaction Fees
Capital One doesn’t charge foreign transaction fees on any of its U.S.-issued credit cards, including the Platinum Credit Card (rates & fees) or Quicksilver Cash Rewards (rates & fees). This means you won’t pay a transaction fee when making purchases outside of the U.S. For this reason, several of its cards rank on our list of the best no-foreign-transaction-fee cards.
Other Perks and Benefits
Among the Capital One Platinum’s convenience benefits are $0 fraud liability, Creditwise for credit monitoring and access to your credit score, account alerts, virtual card numbers, autopay and other convenience benefits.
Meanwhile, the Capital One Quicksilver offers all of these benefits in addition to Capital One Travel, Capital One Dining and Capital One Entertainment for exclusive access to deals. The card also offers an extended warranty benefit and travel accident insurance.
Fees and APR
The Capital One Platinum’s regular APR (rates & fees) is higher than that of the Capital One Quicksilver (rates & fees) and, depending on which APR you receive with the Capital One Quicksilver, may be much, much higher.
Capital One Platinum Interest Rates (rates & fees)
- Regular APR: 29.99% (Variable)
- Purchase intro APR: N/A
- Balance transfer intro APR: N/A
Capital One Quicksilver Interest Rates (rates & fees)
- Regular APR: 19.99% - 29.99% (Variable)
- Purchase intro APR: 0% intro on purchases for 15 months
- Balance transfer intro APR: 0% intro on balance transfers for 15 months
Capital One Platinum Fees (rates & fees)
- Annual Fee: $0
- Balance transfer fee: Balance Transfer Fee applies to balances transferred at a promotional rate
- Foreign purchase transaction fee: None
Capital One Quicksilver Fees (rates & fees)
- Annual fee: $0
- Balance transfer fee: Balance transfer fee applies
- Foreign purchase transaction fee: None
Consider Neither Capital One Platinum Nor Capital One Quicksilver For
Earning Maximum Cash-Back Rewards
While the Capital One Quicksilver Cash Rewards Credit Card earns 1.5% cash back on every purchase and 5% cash back on hotels and rental cars booked through Capital One Travel, several more compelling options for those looking to earn maximum cash-back exist. Several banks offer cards to earn 2% rewards on everyday purchases.
If you want a credit card that offers increased rewards for spending in certain categories, many options offer both cash back and points for spending on things like travel, restaurants, groceries and gas. To investigate your options, take a peek at the Forbes Advisor list of the best rewards credit cards.
A Credit Card for Travelers
If you travel frequently and are attracted to Capital One’s credit cards, you might want to consider one of Forbes Advisor’s list of the best travel credit cards. The cards on this list offer a number of benefits for frequent travelers, including increased rewards, boosts toward elite frequent flyer status and travel insurance benefits that could be valuable to you. Many of these cards also offer no foreign transaction fees on charges outside the U.S.
Carrying a Balance
The Capital One Quicksilver Cash Rewards Credit Card offers a 0% intro APR on purchases and balance transfers for 15 months, 19.99% - 29.99% variable APR after that; 3% balance transfer fee for the first 15 months, 4% at a promotional APR that Capital One may offer you (rates & fees). The Capital One Platinum Credit Card charges a high 29.99% Variable APR for purchases and balance transfers (rates & fees). An interest rate this high is among the worst in the business for all but the most credit-challenged.
Bottom Line
If you’re seeking to establish or reestablish your credit, the Capital One Platinum Credit Card (rates & fees) is an option if getting a secured credit card or a card with an annual fee isn’t an option. Use the card responsibly and pay it off every month to improve your credit score.
If it’s no-hassle cash-back rewards you’re looking for, the Capital One Quicksilver Cash Rewards Credit Card is a reasonable option, as it earns 1.5% cash back on every purchase and 5% cash back on hotels and rental cars booked through Capital One Travel, but other options offer increased rewards on every purchase with no annual fee.
For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
Frequently Asked Questions (FAQs)
Is the Capital One Platinum worth it?
Whether or not any credit card is worth applying for or carrying depends on your financial needs and goals. The Capital One Platinum charges a high APR (rates & fees), meaning those at risk of carrying a balance should be extremely careful not to with this card. It offers no rewards while other cards on our list of the best cards for fair credit do.
Is the Capital One Quicksilver worth it?
Any credit card’s worth and usefulness comes down to whether or not the cardholder gains sufficient value from the card. If you’ll appreciate the perks and benefits of the Capital One Quicksilver, it may be worth applying for and carrying. However, the card’s rewards don’t truly compete with those of the best cash-back cards on our list.
What credit score is needed for Capital One Platinum?
No credit score guarantees approval for the Capital One Platinum and creditworthiness is typically not decided entirely on credit score. Capital One requires a credit rating of at least fair, indicating those who have defaulted on a loan in the last five years or those who have limited credit history may qualify. If you’re concerned your credit isn’t adequate, you should work to improve your score before applying.
What credit score is needed for Capital One Quicksilver?
Creditworthiness is not decided entirely by your credit score, so no score will be guaranteed to secure approval for the Capital One Quicksilver card. The issuer describes those most qualified for the card as maintaining excellent credit. Excellent credit scores are those 800 or higher on the FICO Score scale—but your income and other financial and credit factors will also be likely to influence Capital One’s decision. If you’re concerned about your score, you can take steps to increase your chances of approval.
Is it hard to get the Capital One Platinum?
Applying for any credit card is typically a straightforward process on its own, but feeling confident in your credit can be difficult. Capital One requires a fair credit rating for the Capital One Platinum. You may also need to show adequate income or other proof of your ability to repay any charges you make on the card. Carefully consider if the card is a worthwhile option for you.
Is it hard to get the Capital One Quicksilver?
For those prepared with the correct financial and personal information, the Capital One Quicksilver’s application process will likely be fairly painless. Receiving approval, however, may require an excellent credit rating. While no score guarantees approval, applicants may see better success with a score of 800 or better on the FICO Score scale. Income or other proof of your ability to repay any charges made on the card can help your chances of approval.
How do rewards work with the Capital One Quicksilver?
The Capital One Quicksilver earns 1.5% cash back on every purchase and 5% cash back on hotels and rental cars booked through Capital One Travel. Rewards don’t expire as long as the account remains open and can be redeemed for cash back with no minimum.
