Capital One VentureOne vs. Quicksilver: Upfront Value, or Long-Term?

The Capital One VentureOne Rewards Credit Card - Miles Boost and the Capital One Quicksilver Cash Rewards Credit Card are similar in many ways. Both are no-annual-fee cards that offer flat-rate rewards on purchases. The credit score requirements to qualify are the same, and you won’t find foreign transaction fees on either card. But there are key areas of differentiation: rewards type, rewards rates and offers for new cardholders.

The Capital One VentureOne Rewards Credit Card - Miles Boost has a bigger bonus offer and earns miles that can be redeemed for travel in multiple ways. The Capital One Quicksilver Cash Rewards Credit Card, meanwhile, has a higher ongoing rewards rate, cash back rewards that can be redeemed easily in any amount and a 0% introductory APR offer.

The decision for most will come down to how you like your rewards and whether you prefer upfront or long-term value.

» MORE: Best Capital One credit cards

Upfront value vs. long-term

Comparing one card to the other starts with a quick look at the math. Miles on the Capital One VentureOne Rewards Credit Card - Miles Boost card are generally valued at 1 cent apiece, giving the card an effective rewards rate of 1.25%, compared with the 1.5% cash back of the Capital One Quicksilver Cash Rewards Credit Card.

The larger bonus offer on the Capital One VentureOne Rewards Credit Card - Miles Boost means you can start out significantly ahead in terms of rewards value compared with the cash-back card. But that edge shrinks with time, as the higher rewards rate on the Capital One Quicksilver Cash Rewards Credit Card begins to make up ground. The difference between 1.25% and 1.5% is pretty small in absolute terms, though, so it will take some time to overcome the $200 difference in the bonus. In fact, the Capital One Quicksilver Cash Rewards Credit Card doesn't pull ahead for good until you've done $80,000 in spending.

That said, if you're looking to finance a big purchase or will be carrying a balance, the intro APR period on the Capital One Quicksilver Cash Rewards Credit Card means you won't have to worry about interest on purchases for quite a while. The Capital One VentureOne Rewards Credit Card - Miles Boost doesn't have a 0% period, and interest charges can very easily eat up the value of your rewards.

Here's a deeper dive on why you might want each card.

Advantages of the Capital One Quicksilver Cash Rewards Credit Card

Higher ongoing earnings

The Capital One Quicksilver Cash Rewards Credit Card exemplifies simplicity. You’ll earn a no-fuss, uncapped 1.5% cash back on all purchases without having to track bonus categories or spending limits. This is a higher rate than the 1.25 miles per $1 you’ll earn with the Capital One VentureOne Rewards Credit Card - Miles Boost. Both cards offer the ability to earn 5x on hotels and rental cars booked through Capital One Travel.

» MORE: Which 1.5% cash-back credit card should you choose?

Simple redemption

Redeeming rewards from the Capital One Quicksilver Cash Rewards Credit Card is just as easy as earning them. When you want to cash in, simply apply your cash back for a statement credit or request a check. There is no minimum redemption amount, so you can redeem any amount of cash back at any time. You can also set up an automatic redemption to use rewards each time your statement closes or your balance hits a certain threshold.

By comparison, you can redeem miles earned on the Capital One VentureOne Rewards Credit Card - Miles Boost for cash, but only as a check. You can redeem them for travel in one of three ways: as a statement credit against travel purchases within 90 days of the purchase, by transferring them to a travel partner, or by using them to book travel on Capital One Travel. Since you can't redeem for statement credit against non-travel purchases and have to instead wait for a check in the mail, that makes the rewards more limiting for infrequent travelers.

» MORE: Cash back vs. travel: how to choose your rewards

Intro APR period

It's always best to pay your credit card bill in full every month. Doing so means you never have to pay interest on purchases. But if you've got some big expenses coming up and will need some time to pay them down, the Capital One Quicksilver Cash Rewards Credit Card offers a 0% intro APR on purchases and balance transfers for 15 months; 19.49%-29.49% variable APR after that; balance transfer fee applies.

Advantages of the Capital One VentureOne Rewards Credit Card - Miles Boost

Large upfront bonus

The new-cardholder offer on the Capital One VentureOne Rewards Credit Card - Miles Boost is one of the biggest you'll find on a $0-annual-fee travel credit card, giving you a fast, sizable head start on your next trip: Earn a bonus of 40,000 miles once you spend $1,000 on purchases within 3 months from account opening, equal to $400 in travel. Comparable no-fee travel cards typically have bonus offers in the $200 to $300 range.

Flexible travel rewards

If flexible travel rewards are what you’re after, you might prefer the Capital One VentureOne Rewards Credit Card - Miles Boost. You’ll only earn 1.25 miles per $1 you spend on the card, but those miles can be transferred to more than 15 partner travel programs. The ability to transfer to travel partners can add some extra value to your points. That's because 1 cent earned in cash back is always going to be worth 1 cent, but one airline mile can be worth more than 1 cent in some circumstances.

Let’s say you're going to fly to Paris. You can transfer miles earned from the VentureOne to Air France at a rate of 1:1. NerdWallet estimates the value of Air France Flying Blue miles at 1.2 cents each. If you spent $5,000 on the Capital One Quicksilver Cash Rewards Credit Card, you'd earn $75 cash back. If you spent $5,000 on the Capital One VentureOne Rewards Credit Card - Miles Boost, you'd earn 62,500 Capital One miles, which you could transfer into 62,500 Flying Blue miles. If you redeemed them for 1.2 cents' worth of value each, those miles would be worth $87.50.

But outsized value from transfer to travel partners isn't a guarantee. Miles have their own limitations. You’ll have to familiarize yourself with each partner loyalty program and battle with impediments like limited award availability when booking.

If you’re interested in learning the ropes of travel transfer partners, you may be better off with this card’s big brother, the Capital One Venture Rewards Credit Card. That card earns 2 miles per $1 spent on everything and gives you access to the same transfer partners. While there is a $95 annual fee to contend with, you’ll get a bevy of additional travel perks in addition to the following massive sign-up bonus: Enjoy a one-time bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel.

» MORE: 5 best credit card points programs and who they transfer with

Which card should you get?

With its sizable bonus, the Capital One VentureOne Rewards Credit Card - Miles Boost is a decent card for those who are looking to get started with travel rewards — although a card with an annual fee might actually be a better option. For those who are looking for maximum simplicity and rewards they can redeem without jumping through any hoops, or who need the breathing room of a 0% introductory APR period, the Capital One Quicksilver Cash Rewards Credit Card will come out ahead.