The Capital One Platinum Credit Card and Capital One QuicksilverOne Cash Rewards Credit Card are both great starter credit cards, especially if you’re mainly focused on building your credit through responsible use. You may be able to qualify for either if you have a limited credit history or a fair credit score.

When deciding between the Capital One Platinum and Capital One QuicksilverOne, the main factors you should consider are annual fees and rewards rates. The Platinum has no annual fee, whereas the QuicksilverOne will cost you $39 per year. The QuicksilverOne offers rewards, though, which may help offset the cost of the annual fee, whereas the Platinum doesn’t have a rewards program. Neither card offers a welcome bonus or a 0 percent introductory APR, either.

Main details

Cards Capital One Platinum Credit Card Capital One QuicksilverOne Cash Rewards Credit Card
Welcome bonus None None
Rewards rate None Unlimited 1.5% cash back on all purchases
Intro APR None None
Annual fee $0 $39

Capital One Platinum vs. Capital One QuicksilverOne highlights

Though the differences between the Capital One Platinum and Capital One QuicksilverOne may seem small, the ways these differences can aid your credit can be significant. Here’s a comparison of each card’s key features to help you decide which one is right for you.

Welcome bonus winner: Tie

Neither card offers a welcome bonus, so they tie on this factor.

Rewards rate winner: Capital One QuicksilverOne

The Platinum doesn’t offer any rewards, so the QuicksilverOne wins in this category. The QuicksilverOne allows you to earn an unlimited 1.5 percent cash back on all of your purchases.

Annual fee winner: Capital One Platinum

The Platinum doesn’t come with an annual fee, making it the winner here. The QuicksilverOne comes with a $39 annual fee that can potentially eat into your rewards earnings. You would need to make at least $2,600 in purchases with the card to earn your $39 back. Depending on your spending habits, you may not be able to earn enough rewards to exceed the cost of the annual fee.

Foreign transaction fee winner: Tie

Neither card charges a foreign transaction fee on purchases made outside of the U.S.

Which card earns the most?

You won’t be able to earn rewards with the Platinum, so the QuicksilverOne is the clear winner here since it offers an unlimited 1.5 percent cash back on all purchases.

To help you decide if the QuicksilverOne is right for you, here’s a quick spending example.

Capital One Platinum vs. QuicksilverOne spending example

To offset the cost of the QuicksilverOne’s $39 annual fee, you’ll need to spend about $217 per month, or $2,600 per year, to break even. If you can’t see yourself charging about $217 a month to your card, you may be better off with the Platinum.

The amount of rewards you can earn with the QuicksilverOne is unlimited, so you’ll earn more cash back the more you spend. For example, say you spend $500 a month ($6,000 per year) with the QuicksilverOne. In that case, you’ll earn $90 in cash back each year (or a profit of $51 after paying the annual fee). If you bump up your spending to $1,000 per month ($12,000 per year), you’ll earn $180 in cash back rewards (or a profit of $141 after paying the annual fee).

Why should you get the Capital One Platinum?

If you’re simply looking to build your credit through responsible use, the Platinum card is likely a better option thanks to its lack of an annual fee.

Additional benefits

You will be automatically considered for a higher credit line in as little as six months. Not all lenders offer this sort of opportunity, so it’s a big plus. This card also comes with benefits like free access to your credit score through CreditWise from Capital One, $0 fraud liability and security alerts whenever Capital One detects suspicious activity on your account.

Redemption options

The Platinum doesn’t offer rewards, so there are no redemption options.

Recommended credit score

The recommended credit score for the Platinum is fair or better. According to Capital One, fair credit is defined as having a limited credit history or having defaulted on a loan within the last five years.

Why should you get the Capital One QuicksilverOne?

If you want to build your credit with responsible use and earn rewards at the same time, the QuicksilverOne is a great option. To earn back the cost of the annual fee, you’ll have to spend at least $217 a month. If you plan to spend less than that, the Platinum may be a better option for you.

Additional benefits

Just like Platinum, the QuicksilverOne will automatically consider you for a higher credit line in as little as six months. The card also comes with free access to your credit score through CreditWise, $0 fraud liability and access to Capital One Travel.

Redemption options

You can redeem your cash back rewards for statement credits, checks, recent purchases or gift cards. You can even set up automatic redemptions so you don’t have to remember to redeem your rewards. This allows you to receive cash back at a certain time every year or once your rewards have reached a certain threshold (such as $50 or $100).

Recommended credit score

Capital One recommends that applicants have at least a fair credit score to qualify for the QuicksilverOne.

The bottom line

If you have a fair credit score (or a limited credit history) and want to continue building up your score through responsible use, both the Capital One Platinum and Capital One QuicksilverOne are good options to consider. Overall, the QuicksilverOne edges out the Platinum thanks to its cash back rewards program, allowing you to earn rewards while building your credit with responsible use. However, if you plan to spend less than $217 a month, the Platinum is likely a better pick since you won’t need to recoup the cost of an annual fee.