If you’re a long-time user of the Wells Fargo Platinum card* (, you might be considering adding another credit card to your wallet, since Wells Fargo retired the card in October of 2021 in favor of the Wells Fargo Reflect® Card. Choosing the right credit card can be challenging, especially when there are so many different selections on the market. It’s important to find a card that meets your needs.

*The information about Wells Fargo Platinum card has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer. The Wells Fargo Platinum card is no longer available

If you’re looking for a credit card in the same tier as the Wells Fargo Platinum card, then you should consider looking into the Capital One Quicksilver Cash Rewards Credit Card; its benefits structure is similar, and neither charges an annual fee.

Need more information? We compared Wells Fargo Platinum to Capital One Quicksilver to see if switching cards is the right move.

Main details

Cards Wells Fargo Platinum Capital One Quicksilver
Welcome bonus N/A $200 cash bonus after spending $500 on purchases within the first three months
Rewards rate N/A 1.5 percent cash back on all purchases
Intro APR  0% intro APR for 18 months (from account opening) on purchases and qualifying balance transfers (16.49% to 24.49% variable APR after) 0% intro APR for the first 15 months on purchases and balance transfers (16.49% to 26.49% variable APR after)
Annual fee $0 $0

Wells Fargo Platinum vs. Capital One Quicksilver highlights

Welcome bonus winner: Capital One Quicksilver

Since you can’t open a Wells Fargo Platinum card anymore, Capital One Quicksilver wins this round. If you’re looking to switch cards, you’ll receive a $200 cash bonus after spending $500 on the card in three months. That’s $165 a month, or a few rounds of groceries at the grocery store. It’s a great intro rate if you don’t spend a ton of money regularly.

Rewards rate winner: Capital One Quicksilver

Unfortunately, the Wells Fargo Platinum card doesn’t offer any rewards rates. Its biggest draw, before it was retired, was the long intro percent intro APR. Conversely, the Capital One Quicksilver earns 1.5 percent cash back on all purchases. That means on top of the sign-up bonus you receive after making the qualifying purchases, you’ll earn $7.50 from the cash back rewards on this card. Over time, the rewards will compile and save you money on purchases. Plus, it’s better than the Wells Fargo Platinum, which doesn’t earn any rewards.

Annual Fee winner: Tie

Both cards have no annual fee. This means that if you wanted to keep the Wells Fargo Platinum card open, it wouldn’t cost you any money. This is especially helpful if you opened the Wells Fargo Platinum card early in your adult life and it has kept your credit history looking lengthy. Keeping the card open would allow your credit to remain high. It also means opening a Capital One Quicksilver card wouldn’t cost you anything.

Intro APR winner: Capital One Quicksilver

Since the Wells Fargo Platinum card has been retired, those looking to open a new card cannot. Otherwise, Wells Fargo Platinum would have the better offer. However, the Quicksilver’s 0 percent intro APR for 15 months on both purchases and balance transfers, followed by a variable APR of 16.49 percent to 26.49 percent, is not a bad deal at all.

This can be a great way to pay down debt from a high-interest card if you transfer the balance over. Note, though, that you will have to pay a 3 percent balance transfer fee for each balance that posts to your account.

Which card earns the most?

Since the Wells Fargo Platinum doesn’t earn rewards, the Capital One Quicksilver is the card that earns the most. It earns 1.5 percent cash back on all purchases, making it a great flat-rate cash back card to have in your wallet for everyday purchases.

Capital One Quicksilver spending example

The average household ranges between $3,189 for a single person to $6,789 for a family of five. If you use your Capital One Quicksilver for even half of those expenses, you’ll earn between $50 to $100 every month. Over a year, that could become more than $1,000 in cash back. That’s money you can use toward trips and bigger purchases that you’ve been planning.

Why should you keep the Wells Fargo Platinum card?

If you’re considering keeping the Wells Fargo Platinum card, it’s important to look at the features outside of the $0 annual fee. You also might consider keeping it open so your credit report doesn’t show a recently closed account. But on top of that, it has some great benefits.

Additional benefits

The Wells Fargo Platinum allows you to view your free credit score, offers cellphone protection as well as immediate account alerts.

You get get access to your FICO credit score through your online account page, and this can protect you if you notice a big dip—even if you haven’t changed what you’re doing. If you need to, you can request a credit report and dispute any incorrect information you find.

Further, this card comes with cellphone protection against damage or theft (up to $600 per claim). However, you can only file up to claims in a 12-month period, and you have a $25 deductible for each claim. But if you’re accident prone and drop your phone, you won’t have to pay for it. And this is a huge perk.

You can also set up your account to have alerts sent to your phone or email letting you know of any suspicious activity.

Redemption options

Since this is not a rewards card, there are no redemption options to consider.

Recommended credit score

The recommended score to hold this card is good to excellent, or a score between 640 and 850.

Why should you get the Capital One Quicksilver?

With no annual fee, the Capital One Quicksilver is a great addition to anyone’s wallet. On top of the 1.5 percent cash back on every purpose, it has a lot of other perks that make the card worth investing in.

Additional benefits

Just like other Capital One cards, this one comes with a host of standard benefits and perks for travel and shopping.

You can get virtual credit card numbers through the Eno, Capital One’s assistant program, when shopping online. This protects your card from being stolen by hackers. The card also provides extended warranty protection, travel accident insurance and auto rental collision damage when you pay with your card.

Since it’s a Capital One card, you’ll be able to purchase exclusive travel and entertainment opportunities through Capital One Access. And the card comes with some 24/7 services like travel and roadside assistance.

Redemption options

The Capital One Quicksilver is one of few cards that maintains the full value of its cash back through all transactions.

Thankfully, Capital One has put together a wide range of ways to redeem your cashback. If you want a “set it and forget it” rewards system, you can opt to receive your cash back at a set time each year.

Another option is to request that it be applied to your next statement or mailed to you in the form of a check. If you’re an online shopper, you can use points to cover recent card purchases and online purchases on Amazon.com.

Recommended credit score

The recommended credit score for this card is good to excellent, or a score between 640 and 850.

The bottom line

If you’re looking to switch away from the Wells Fargo Platinum to another card in the same tier, then switching to Capital One Quicksilver is a good idea. It has a great intro rate and allows you to earn cash back on all categories of shopping. Plus, there’s no annual fee.

But, if you want to keep your Wells Fargo Platinum card because of the credit history, that’s not a bad idea. It doesn’t have an annual fee, either, so it doesn’t cost you anything to keep it. However, since it’s not a points-earning card, you’re not getting the most out of your spending. In the end, you might still want to open the Capital One Quicksilver.