QuicksilverOne Rewards vs Platinum vs Discover It

[huzchris]

Anyone have any suggestions as to which I should app for? I was pre-approved for all three. I currently have a non-graduating secured Cap1 with a $200 limit (2 yrs). I am also an AU on my wife's Platinum with $1500 (8 months). Never late on both cards and $0 balance on the secured card and I believe the other is at $650. I am in the middle of a rebuild and would like to add a third card to the mix but wanted some expert input. Any info you guys and gals can pass my way would be greatly appreciated! Thanks!

[rmduhon]

I'd go for the Discover if the APR spread is 4% or less (specific APR is best). If they are giving a wide range (like 14%-23%) don't do it. Then in order, I'd do the Platinum (assuming that you mean the Cap1 Platinum) then the Quicksilver 1, if these 2 APR's are comparable.

[sunkissed]

Huzchris, welcome to the forum!

I assume you mean Capital One’s Platinum card. It earns no rewards and has a high APR. It is meant for people just starting out or rebuilding who may not qualify for better terms.

Since you are pre-approved for both QuickSilver One and Platinum, I would recommend the QuickSilver One as the better choice. Although the QuickSilver One has a $39 annual fee, it does earn 1.5% rewards on all purchases. Many people are able to get the annual fee waived.

In my opinion, the Discover IT is the best choice of the three because IT doubles rewards the first year. So, Discover IT would earn 10% in category spend and 2% in all other spend the first year – 5% and 1% thereafter.

Word of caution: I do not believe that the Discover pre-approval/pre-qualification is reliable. I recall reading several accounts of members reporting the Discover web site tells everyone they’ve been pre-approved.

[huzchris]

Discover has a spread from 11.74% - 23.74%.  The others are in that same ballpark. I suppose I will just garden/rebuild a little longer and see what time can do for me. Thanks for the insight!

[rmduhon]

The Platinum may not have rewards, but it can usually be PC'd into a Quicksilver within a few statements to get rewards added and it has no annual fee so if the APR's are comparable it's a better choice to me. Of course, everyone has their own opinion.

[Anonymous]

Get Discover first! I have been denied 2 times and they're super sensitive to inquiries. 

[HeavenOhio]

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@rmduhon wrote:
The Platinum may not have rewards, but it can usually be PC'd into a Quicksilver within a few statements to get rewards added and it has no annual fee so if the APR's are comparable it's a better choice to me. Of course, everyone has their own opinion.

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Yeah, it's much more difficult to product-change the QuicksilverOne. I'd opt for the Platinum.