Your credit history can turn into a disaster if you don’t choose the right credit-building card from the beginning. Capital One offers at least three options to make your credit journey more rewarding. Check out our list of the best Capital One credit cards for beginners to choose the best card for yourself.
Our Top Capital One Credit Cards for Beginners
The right credit card can make a significant difference in your credit-building journey. These cards offer significant rewards and credit-building opportunities for every type of financial need.
- Best altogether: Capital One QuicksilverOne Cash Rewards
- Best for building credit: Capital One Platinum
- Best for students: Capital One Quicksilver Students Rewards
Best Altogether: Capital One QuicksilverOne Cash Rewards
Besides having a simple rewards program, the standout feature of the Capital One QuicksilverOne Cash Rewards card is that it is contactless. You can just tap it on the card reader instead of swiping. This method makes card skimming difficult for scammers.
One downside is its $39 annual fee, which can make this card expensive. However, you can afford it if you keep a responsible financial attitude. Furthermore, you also get the bank’s usual card protection services, like:
- Security alerts if the bank detects fraudulent activity.
- Card lock in case of suspicious activity or theft.
- Account alerts from Capital One’s virtual assistant Eno.
You can get an increased credit line within six months if you make timely payments and avoid incurring a debt. This card allows you access to CreditWise, a tool Capital One offers to track your credit score.
Rewards
You get a flat 1.5% cash back on every purchase. It is higher than the flat-rate percentage of most rewards cards. No specific categories mean hassle-free rewards if you find bonus categories difficult to track. Additionally, you can redeem cash back through multiple ways at any time with no minimums.
Pros
- Flat-rate rewards make it simple to earn on every purchase.
- Like other Capital One cards, it is an excellent choice for international use because there are no foreign transaction fees.
- You can get an increased credit limit within the first six months of card usage. It can give you more room to maintain an ideal credit utilization ratio.
Cons
- The $39 annual fee is more expensive than most Capital One cards.
- You don’t get an introductory APR period. So, the balance transfers and large initial purchases won’t benefit from a temporary lower interest rate.
- You don’t get a welcome bonus with this card so you cannot earn extra cash back.
Best for Building Credit: Capital One Platinum Card
You can get a credit limit raise like the QuicksilverOne Rewards if you use the Capital One Platinum card responsibly. You must clear your monthly dues to avoid accumulating debt and build credit.
Besides a $0 annual fee, you are also exempt from:
- Foreign transaction fee
- Replacement card fee
- Authorized user fee
You can also opt for the auto pay facility so you don’t miss a payment. Furthermore, you can get security alerts through the bank’s online assistant, Eno, to keep your identity secure. Eno also generates virtual card numbers when you shop online, so you don’t have to provide your original card number.
Rewards
This card doesn’t offer traditional rewards. However, it is an excellent credit-builder. After the first six months, you are automatically considered for a higher credit line. It can improve credit utilization and bolster a credit score over time. You should note that the probability of this happening depends on your positive financial behavior.
Pros
- You pay a $0 annual fee, which makes this card cheaper.
- Increased credit line opportunities after six months offer a chance to grow credit responsibly.
- You can track your credit regularly through tools like CreditWise. It allows you to maintain a spotless credit history and score.
Cons
- Like other credit-building cards, you don’t get a reward program here. It can be less attractive if you want to earn too.
- You could incur a high APR if your balances aren’t paid off monthly.
- This card lacks perks like travel insurance that other cards might offer.
Best for Students: Capital One Quicksilver Student Cash Rewards
The Capital One Quicksilver Students Rewards is best if you want to keep things simple. You can build credit responsibly while earning a steady amount. Like every other Capital One student card, you don’t pay an annual or foreign transaction fee here.
Furthermore, you can get discounted deals (wherever applicable) on products if you shop at Amazon. The Capital One Shopping portal applies coupon codes to the products you need to buy, allowing you to save more.
Rewards
You get a straightforward 1.5% cash back on purchases, making earning rewards without a price cap easy. It is way better than the Platinum card, which doesn’t offer rewards. You also get an unlimited 5% return on booking hotels and rental cars through Capital One Travel.
Furthermore, you get a one-time $50 cash bonus if you spend $100 in the first 3 months, which we think is an easy goal to achieve.
Pros
- It is easy to earn flat-rate rewards, unlike the category-specific cards, which require you to keep track of the reward categories.
- You pay a $0 foreign transaction fee here, making international purchases seamless and easy.
- You get travel accident insurance with this card and you get reimbursed if a flight-related mishap occurs.
Cons
- Students who spend heavily in specific categories like dining or groceries might find this card less rewarding.
- You can incur a maximum APR if you don’t pay off your monthly dues.
- You don’t earn cash back on entertainment purchases like some other student cards.
Features to Consider for Capital One Credit Cards for Beginners
When selecting a Capital One card for beginners, you must consider several factors. These include the total fees, the type of rewards program, and the added perks the cards provide.
| Annual Fee | APR | Rewards | |
|---|---|---|---|
| Capital One QuicksilverOne Cash Rewards | $39 | 29.99% | Unlimited 1.5% cash back on purchases |
| Capital One Platinum | $0 | 29.99% | N/A |
| Capital One Quicksilver Students Rewards | $0 | 19.99% – 29.99% | Unlimited 1.5% cash back on purchases |
Card Fees
Many Capital One cards have no annual fee, making them ideal for new cardholders. Cards like the Capital One Platinum incur a $0 annual fee without hidden charges like a card replacement fee.
You also don’t pay foreign transaction fees with this bank’s cards. It is especially beneficial for those traveling internationally. Finally, you must consider late payment fees and balance transfer fees to calculate potential additional costs.
Rewards
You can earn points, miles, or cashback as Capital One’s rewards. However, cash back is straightforward and often preferred by beginners for its simplicity.
Some cards offer higher reward rates for specific categories like dining or groceries. Alternatively, cards like the QuicksilverOne Cash Rewards offer flat-rate cash back percentages, which are easy to track. Assessing personal spending habits can guide your choice of a reward structure that maximizes benefits.
Extra Benefits
Many entry-level cards include perks like extended warranties on purchases, travel accident insurance, and emergency card replacement. The Quicksilver Students Rewards card is a good example.
Additionally, access to credit monitoring and tools like CreditWise can help users manage and improve their credit scores. Some cards also offer exclusive event access or concierge services.
Related Questions
What’s the Easiest Capital One Card to Get Approved for?
Capital One Platinum card is the easiest Capital One card to get approved for. It is designed for those with fair or average credit, usually a credit score between 580 and 669. It has no annual fee and offers benefits such as fraud coverage and access to a higher credit line after making on-time payments for five months. This makes it a great choice if you are starting to build or rebuild your credit.
Is It Easy to Get a Credit Card With Capital One?
Getting a credit card with Capital One is usually easy, especially for consumers with fair or average credit. The application process is straightforward, and they provide pre-qualification options without affecting your credit score. The bank also caters to a vast range of credit scores, offering several cards designed for different credit levels. This makes it easier to find a match for your credit profile.
Is Capital One Good for Students?
Yes, it is. Capital One offers the SavorOne Students Rewards card, which is an excellent choice for students. This card allows students to build credit while earning rewards. It offers an unlimited 3% cash back on dining, streaming, and entertainment categories. You don’t pay an annual fee. This makes it a cost-effective option for students wanting to establish their credit history responsibly.
Conclusion
We find the QuicksilverOne Cash Rewards card to be the best for beginners. Although you pay a $39 annual fee, you get a flat-rate rewards structure with no hidden charges. Alternatively, students beginning to build their credit scores can benefit from the Quicksilver Students Rewards. If you’re not too interested in a rewards program, the Capital One Platinum focuses solely on credit-building.