Capital One provides credit line increases to eligible cardholders, which means you receive a higher credit limit. Anyone can access CreditWise, not only Capital One cardholders.When we mention “credit card upgrades,” we aren’t referring to credit line or credit limit increases. You can use it to monitor your VantageScore 3.0 credit score from your TransUnion credit report to track your progress. No matter which card you choose, you can also access Capital One’s CreditWise tool.
Again, a lower credit utilization will contribute to stronger credit scores. A higher credit limit will lower your credit utilization as you’ll have a larger amount of overall credit, and will therefore be using a smaller percentage of it. Capital One will periodically review both credit cards for an automatic credit limit increase in as little as six months. Make sure you don’t miss a payment and your credit score can improve in as little as a few months.īoth cards offer automatic credit limit reviews. Both of these cards can be used to do so. That means using the credit card regularly and then paying it off on time each month. Building credit Winner: Tieīoth credit cards are intended to help improve your credit score through responsible use. This typically means you’ll need a credit score of 580 or higher. As such, both cards have a recommended fair credit requirement. Credit requirements Winner: Tieīoth credit cards are designed to help people with limited or fair credit obtain stronger credit scores. If $2,600 in spending per year isn’t something you’re up for, then the Platinum card might be the better option. To turn a profit, you would need to spend more than that. That would have you breaking even with the card’s annual fee, as 2,600 x. *However, you’ll have to make sure that your budget allows you to spend $2,600 annually with the QuicksilverOne.
#MY CAPITAL ONE CREDIT CARD PLUS#
It features 1.5% cash back for every purchase, plus 5% cash back for hotels and rental cars booked through Capital One Travel. The clear winner when it comes to rewards is the QuicksilverOne card. Rewards Winner: Capital One QuicksilverOne
#MY CAPITAL ONE CREDIT CARD FULL#
That said, we recommend paying your credit card balance in full each month in order to avoid paying interest charges, and to show credit card issuers you have responsible habits. APR, or interest rate Winner: Tieīoth credit cards feature an APR of 29.99% variable, which is relatively high, so it won’t come down to the APR for which card is the better choice. Still, for many cardholders, the QuicksilverOne’s rewards program may be able to outshine its annual fee. If you don’t plan to spend much on the card and prefer to keep it as an emergency credit card in case of unexpected expenses, this card will be lower maintenance overall. The Platinum card is an obvious winner on upfront costs since it has no annual fee.
Annual fee Winner: Capital One Platinum Mastercard You’ll have to spend over $2,600* with the card in order to offset its annual fee. Despite the annual fee, the QuicksilverOne will be the better choice for more people because the annual fee is relatively low and the rewards program has the potential to outweigh any costs. There are a lot of similarities between these cards, but a couple of glaring differences - namely the Platinum Credit Card’s lack of rewards and the QuicksilverOne’s annual fee. Both the Capital One Platinum Credit Card* and Capital One QuicksilverOne Cash Rewards Credit Card* are good cards to start establishing a credit history.
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