Capital One Quicksilver vs. Capital One QuicksilverOne
Who wins the quick draw?
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The Capital One® Quicksilver® Card and Capital One® QuicksilverOne® Cash Rewards Credit Card look similar in almost every way. But there are subtle differences when it comes to how you can use them and the credit-building opportunities they offer. So, which one should you choose? Ultimately, the difference between these two cards depends on your credit history, amount of debt and how you view certain benefits.
Let’s take a closer at how they compare.
Capital One Quicksilver vs. Capital One QuicksilverOne
Capital One Quicksilver Card
Capital One QuicksilverOne Card
||1.5% cash back on every purchase||
1.5% cash back on every purchase
||$150 after spending $500 in first 3 months
|Estimated yearly rewards value (for someone who spends $15,900)||$288||$212|
|Who should get this card?||
Cardholders with excellent credit who want the simplest cash rewards program possible
Cardholders with average credit or limited credit histories who want a good cash rewards program and fast access to a higher credit line
3 ways they’re similar
- Rewards rate. Both the Quicksilver and QuicksilverOne carry a flat 1.5-percent cash back rate on all purchases every day. You can use either card at this rate without having to sign up for and track rotating categories. Compared to similar cash back options, the 1.5-percent rate is competitive among average rates with no rotating categories.
- No earning limits. Neither card has earning limits and your cash back won’t expire for the life of the account. The cards provide redemption flexibility as well. You can redeem cash at any amount at any time – as well as redeem cash for statement credits, checks, gift cards and more.
- No foreign transaction fee. Neither the Quicksilver nor the QuicksilverOne carry a foreign transaction fee. Holders of both cards are free to earn cash back domestically and overseas, without limitations.
3 ways they’re different
- Credit history needed for approval. Capital One requires cardholders to have a good or excellent credit history in order to be approved for the Quicksilver card. Though its rewards aren’t as robust as other cash back cards, the QuicksilverOne is more lenient when it comes to credit score.
- Balance transfer fees. If cardholders wish to move an existing balance to another account, the QuicksilverOne allows transfers at no additional fee. The Quicksilver, however, charges a 3-percent balance transfer fee for balances transferred during the 15-month introductory period (the fee is 0 percent thereafter).
- Intro and regular APR. Unlike the QuicksilverOne card, the Quicksilver offers an introductory APR of 15 months. The Quicksilver card also offers a lower APR overall than the QuicksilverOne card.
- Opportunity to increase your credit limit. The QuicksilverOne card carries an initial $300 credit limit that can be increased after five months of timely payments.
Best for those in good credit standing: Capital One Quicksilver
The Quicksilver is a great option for rewards card rookies. You can find other cards with rates higher than 1.5 percent, but you’ll sacrifice redemption simplicity to get there. Not only does this card offer a simple rewards rate; it also comes with an attainable sign-up bonus and no annual fee.
The sign-up bonus allows new cardholders to earn an extra $150 after spending $500 within the first three months of opening a new account. Additional benefits are available, including free credit score monitoring, travel and emergency assistance, auto rental coverage and fraud coverage.
Best for building credit while earning cash back: Capital One QuicksilverOne
Sure, the Quicksilver has a sign-up bonus, but the QuicksilverOne is much easier to approve for. Thus, it’s a great card for building credit.
It carries a $39 annual fee, a higher APR and no sign-up bonus. But, it does have the same flat 1.5-percent cash back rate as the Quicksilver.
Once you improve your credit enough to be eligible for the Quicksilver, it’s an easy transition to combine the two cards or do a clean switch. Either way, disciplined spending and timely payments will pay off.
While the Quicksilver and QuicksilverOne feel the same when it comes to rewards rate, the Quicksilver card, with its sign-up bonus and no annual fee, offers the clear advantage – if you have a high enough credit score to qualify for it. On the bright side, you won’t lose too much ground by going with the QuicksilverOne card, especially if you’re looking to build credit.
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