The underlying difference between the two cards is the credit required for approval. The Capital One Quicksilver Cash Rewards Credit Card is aimed at consumers with “good” credit or better. By comparison, the Capital One QuicksilverOne Cash Rewards Credit Card is available to consumers with “fair” or limited credit.
To upgrade from Quicksilver One to Quicksilver, you can accept Capital One's online, mail, or e-mail offer. Cardholders who are eligible for an upgrade will be notified through an "Upgrade Now" banner online or by mail.
How much is the Capital One QuicksilverOne credit limit? The Capital One QuicksilverOne credit limit is $300 or higher. There's no way to tell upfront how high your QuicksilverOne limit could get, but if you make your first 6 monthly payments on time, you could get access to a higher credit line.
Here's what each card offers. Nerdy tip: Capital One offers two additional cards in its Quicksilver family. The Capital One Quicksilver Secured Cash Rewards Credit Card is designed to help build credit and offers the ability to earn 1.5% cash back rewards.
The Capital One Quicksilver's credit score requirement is “good” (700 or higher). Capital One also considers applicants' income and debt when making Capital One Quicksilver card approval decisions.
Rates and Fees
If you want a low-maintenance credit card, the Capital One Quicksilver doesn't have many ongoing fees to keep track of. There is no annual fee and there are no foreign transaction fees in case you plan to travel.
As with almost every question about credit reports and credit scores, the answer depends on your unique credit history and the scoring system your lender is using. "Too many" credit cards for someone else might not be too many for you. There is no specific number of credit cards considered right for all consumers.
You can upgrade from Capital One Platinum to the Capital One Quicksilver Cash Rewards Credit Card either with an offer from Capital One through your online account or by requesting one over the phone by calling the number on the back of your card. ... Upgrade offers do not affect your credit score.
The Capital One Quicksilver Cash Rewards Credit Card is the winner over the Capital One Platinum Credit Card. ... Platinum doesn't offer low introductory rates or any kind of rewards – just the ability to build credit without paying an annual fee. These two cards are ultimately meant for two very different types of people.
Also unlike some other credit card options for bad credit, the Capital One QuicksilverOne Rewards Credit Card is an unsecured credit card. This means you can use it to build your credit score through responsible use without having to put down a cash deposit as collateral.
In general, we don't change an account's credit line more often than every 6 months, but that can vary based on account. Please wait several months after your last credit line change before requesting a credit line increase.
The Platinum card is geared toward people with limited credit, whereas Quicksilver is reserved for those with good credit and above (700+ credit score).
Capital One Quicksilver is issued as a Mastercard, but networks are subject to change and there are both VISA and Mastercard versions of the card. Online applicants can see the network logo at the top of the application form.
Although a credit limit increase is generally good for your credit, requesting one could temporarily ding your score. That's because credit card issuers will sometimes perform a hard pull on your credit to verify you meet their standards for the higher limit.
Fortunately, if you're a Capital One customer, you can easily upgrade (or downgrade) your credit card with the same issuer. You can also open a new account. An upgrade could be the right move for you if your credit score has improved and you want to start racking up rewards for your purchases.
If you're working on building your credit history, the new Capital One Quicksilver Secured Rewards Card could be worth a look. It can help you build a credit history and eventually graduate to the unsecured version of the card. The card was launched on Oct. 19 and is available for new applications.
For example, reviewers of the Capital One Quicksilver Cash Rewards Credit Card (regular 14.99% - 24.99% (Variable) APR) have reported credit limits up to $30,000.
Applying for a credit card and being denied can be frustrating—especially if you're worried it might impact your credit scores. ... Instead, applying may lower your credit scores—usually by just a few points, according to credit-scoring company FICO®—because applying for a credit card will trigger a hard inquiry.
Card Summary
The Capital One Quicksilver Cash Rewards Credit Card is a simple cash back credit card that can rack up a lot in rewards over time. The card offers 1.5% cash back on every purchase, plus a one-time cash bonus of $200 after you spend $500 on purchases within 3 months from account opening.
If you receive a loan through Upgrade, we will perform a hard inquiry, which may impact your credit score. A new borrower may see a small drop in their credit score when they receive a new loan, but the score typically climbs back up with time and on-time payments.
The Capital One Platinum credit limit is $300 or more, depending on your creditworthiness. So, you're guaranteed at least a $300 spending limit if you're approved for the card, and if your credit score and income exceed what Capital One is looking for, you could definitely start off with a higher limit.
To upgrade from Capital One Quicksilver to Venture, you can either accept an offer Capital One has already given to you through mail or email or call at any of the numbers, 800-227-4825 or 877-383-4802, to ask them if you are eligible.
I'm guessing you are asking about credit cards. If so, the short answer is usually no, you don't need to close the accounts. Paying down or paying off your credit cards is great for credit scores, but closing those accounts will likely cause your credit scores to dip, at least for a little while.
It depends on how well you can manage 1 credit card, then 2, and so on. So while 3 credit cards could be too many for one person, someone else might be able to comfortably manage 6. The average adult has 4 credit cards, according to a 2020 Experian report.
Using credit cards and paying off your balances every month or keeping balances very low shows financial responsibility. ... More, exceeding your credit card's limit can put your account into default. If that happens, it will be noted on your credit report and be negatively factored into your credit score.