![]() ![]() Capital One Platinum: Best for clear-cut rebuilding Of course, the QuicksilverOne compensates for its annual fee with its flat-rate cash back rate, but you must spend $2,600 to earn $39 in cash back. Compared to many travel credit cards, $39 seems small, but when you’re recovering from major debt, that extra $39 could be difficult to allocate for. The Capital One QuicksilverOne does have an annual fee of $39. The lack of an annual fee may be especially appealing if you’re trying to build your credit on a tight budget. The Capital One Platinum comes with no annual fee, which means you can spend without having to budget for an annual bill. CreditWise is available to all Capital One cardholders, but it’s especially helpful for those building credit so you become familiar with what credit habits increase or decrease your score. Plus Capital One’s CreditWise feature is a great tool for you to see your credit score and how it’s calculated. ![]() If you practice good credit habits and your credit limit is raised, your credit utilization and payment history are sure to improve, raising your credit score. However, the good thing: Capital One will automatically review your account for a credit line increase after you make six on-time monthly payments. Depending on your credit history, you may start off with a fairly low limit, around $300, for both cards. Your credit limit can play a big part in successfully managing your credit utilization – the amount of credit you’re using relative to your total available credit. Credit limitīoth the Capital One Platinum and the Capital One QuicksilverOne offer a chance at a higher credit limit. Of course, don’t let the cash back tempt you into spending more than you usually would – these cards work best for credit building, not rewards. You can find higher rates with other cards, but it’s an added incentive, nonetheless. The QuicksilverOne is a flat-rate cash back credit card, so you not only have the opportunity to build credit, you also earn 1.5% cash back on every purchase you make. The Capital One Platinum has no rewards program, which is good since this discourages you from overspending to obtain any points, miles or cash back. Account reviewed for a higher credit limit after you make 6 on-time monthly payments. How do these two compare? Capital One Platinum vs. The main difference between the cards is that only the QuicksilverOne has a rewards program, but it’s a minimal one at that. Secured cards are generally easier to qualify for as well. This is a big plus if you’d rather not tie up money up front, though the tradeoff is usually a lower credit limit range. ![]() Unlike secured credit cards, unsecured cards allow you to make purchases and establish credit history without putting down a security deposit. With responsible use, either card could be a great credit-building tool for those with fair credit (usually 580 or higher). ![]() The Capital One Platinum Credit Card and Capital One QuicksilverOne Cash Rewards Credit Card are two bare-bones, yet serviceable cards that provide a welcome mat for cards beginners and security for credit-builders. If you’ve been looking for a card to help you build credit, but you’re nervous about your ability to qualify, Capital One has some solid options. ![]()
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