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When navigating the crowded field of 1.5% cash back offers, two almost-identical credit cards from the same issuer might have you playing a game of "spot the difference":
At first glance, the cards seem undifferentiated. In addition to having almost-identical names, both offer 1.5% cash back on all purchases and neither charges foreign transaction fees. But despite these uniform features, the cards have slight distinctions in what they offer, based on their distinct credit score requirements.
While the Capital One Quicksilver Cash Rewards Credit Card offers a richer deal overall, you need good credit to qualify. The Capital One QuicksilverOne Cash Rewards Credit Card, by contrast, requires average credit and comes with fewer benefits.
Here’s what each card offers.
» MORE: Our best cash back credit cards
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. It requires a deposit but offers the chance to upgrade to an unsecured product. The Capital One Quicksilver Student Cash Rewards Credit Card allows students to build credit with no annual fee while earning 1.5% rewards.
At a glance
Capital One Quicksilver Cash Rewards Credit Card
Capital One QuicksilverOne Cash Rewards Credit Card
Unlimited 1.5% cash back.
Unlimited 1.5% cash back.
Earn a one-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening
0% intro APR for 15 months on purchases and balance transfers, and then the ongoing APR of 19.24%-29.24% Variable APR; 3% fee on the amounts transferred within the first 15 months.
The ongoing APR is 29.74% Variable APR.
Balance transfer fee
None, but it has a high balance transfer APR.
Foreign transaction fees
Both cards also earn unlimited 5% cash back when you book hotels or rental cars through Capital One Travel.
The Capital One Quicksilver Cash Rewards Credit Card is for good credit
You’ll need good-to-excellent credit (a score of at least 690 on the FICO scale) to qualify for the Capital One Quicksilver Cash Rewards Credit Card.
Generally, cards that require higher credit scores tend to come with better features than those that require scores on the lower end of the scale. To this end, the Capital One Quicksilver Cash Rewards Credit Card offers the following benefits that are richer than its average-credit sibling card's offerings.
When you apply for this card, you can earn a sign-up bonus: Earn a one-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening This bonus can give cardholders a nice value boost, and with a relatively low spending requirement, it can be easy to earn.
Introductory 0% APR
The Capital One Quicksilver Cash Rewards Credit Card comes with a 0% intro APR for 15 months on purchases and balance transfers, and then the ongoing APR of 19.24%-29.24% Variable APR; 3% fee on the amounts transferred within the first 15 months. If you’re about to make a large purchase and need time to pay it down interest-free, the card can help you do that while earning a decent rewards rate. You could also use it to pay down high-interest debt on other accounts. However, the card also charges a balance transfer fee.
No annual fee
Unlike the average-credit version of the card, the Capital One Quicksilver Cash Rewards Credit Card comes with an annual fee of $0. That means you can come out ahead on rewards as soon as you start making purchases on it.
The Capital One QuicksilverOne Cash Rewards Credit Card is for average credit
The Capital One QuicksilverOne Cash Rewards Credit Card is designed for those with average credit (FICO scores that range from 630 to 689), and therefore has more modest offerings than its counterpart.
Unlike the Capital One Quicksilver Cash Rewards Credit Card, it charges an annual fee of $39. Plus it doesn't come with a sign-up bonus, nor does it offer a 0% APR period. However, there are some attractive features that can make it a good option for those with average credit.
Competitive rewards rate for average credit
Unlimited 1.5% cash-back offers are rather unremarkable in the world of good credit. But few cards for those with average credit come with such a higher rewards rate. Before applying, make sure you spend enough to make the annual fee worthwhile. You would have to spend $2,600 on this card each year, or an average of $217 monthly, before your rewards cancel out the annual fee.
Opportunity to upgrade
Usually, qualifying for better terms means applying for a new card, which triggers a hard pull on your credit and temporarily dings your score. If you get this card and your credit later improves, you can upgrade your card to the good-credit version — the Capital One Quicksilver Cash Rewards Credit Card — without that hard pull on your credit, according to Capital One. This way, you can continue building your account history while moving to more favorable terms, without taking a short-term credit hit.
Which card should you get?
Your credit score will determine which card you're eligible to apply for. The Capital One Quicksilver Cash Rewards Credit Card, which comes with richer benefits, requires good-to-excellent scores. On the other hand, those with fair credit are eligible for the Capital One QuicksilverOne Cash Rewards Credit Card.
If you don't know which credit card you would qualify for, start by finding out what your credit score is. Your current credit card issuers or bank might also offer free credit scores on their websites.
» MORE: Best Capital One credit cards