If you’re on the lookout for a credit card that offers cash back rewards, Capital One has two great options: the Capital One Quicksilver and the Capital One QuicksilverOne. In this article, we’ll break down the differences between these cards, compare their benefits and rewards, and help you decide which one is the best fit for you.
How the cards stack up
Let’s start by comparing the features of the Capital One Quicksilver and Capital One QuicksilverOne:
| Feature | Capital One Quicksilver | Capital One QuicksilverOne |
|---|---|---|
| Welcome Bonus | bonus_miles_full | Not Available |
| Ongoing Rewards | 1.5% cash back on every purchase | 1.5% cash back on every purchase |
| Annual Fee | No annual fee | annual_fees |
| APR | reg_apr,reg_apr_type | reg_apr,reg_apr_type |
As you can see, both cards offer 1.5% cash back on every purchase with no cap on rewards. However, there are some key differences to consider.
Welcome bonus winner
The Capital One Quicksilver comes out on top in terms of welcome bonus. With bonus_miles_full, you can earn an effective 40% cash back on your first $500 in spending. Unfortunately, the Capital One QuicksilverOne does not offer a welcome bonus.
Rewards winner
Both cards offer the same ongoing rewards of 1.5% cash back on every purchase. Additionally, they provide unlimited 5% cash back on hotel and rental car bookings made through Capital One Travel. So, when it comes to rewards, it’s a tie between the two cards.
Annual fee winner
The Capital One Quicksilver has no annual fee, making it the winner in this category. On the other hand, the Capital One QuicksilverOne charges an annual_fees annual fee.
APR winner
While the APR on both cards varies based on creditworthiness, the Capital One Quicksilver generally offers a better APR than the Capital One QuicksilverOne. Additionally, the Capital One Quicksilver provides an intro_apr_rate,intro_apr_duration and balance_transfer_intro_apr,balance_transfer_intro_duration for new cardmembers. This gives it an edge over the QuicksilverOne.
Foreign Transaction Fee Winner
Both the Capital One Quicksilver and Capital One QuicksilverOne do not charge any foreign transaction fees. This means you can use either card worry-free when traveling abroad.
Extended warranty
Both cards offer extended warranty protection on your purchases, doubling the manufacturer’s warranty up to an additional 24 months. The extended warranty benefit is quite similar for both cards.
Which card earns the most
In terms of earning potential, both the Capital One Quicksilver and Capital One QuicksilverOne offer the same 1.5% cash back on every purchase. However, the Capital One Quicksilver comes with a welcome bonus, allowing you to earn even more. For example, if you spend $2,000 a month on either card, you’ll earn $360 in cash back annually. With the welcome bonus, the Capital One Quicksilver would give you an additional $200, bringing your total cash back earnings to $560 in the first year.
Our Take
If you qualify for the Capital One Quicksilver, it’s the obvious choice. With its lower annual fee, better APR, and welcome bonus, it offers more advantages than the QuicksilverOne. However, if you’re working on building your credit and don’t yet qualify for the Quicksilver, the QuicksilverOne is worth considering. It can help you improve your credit while still earning cash back rewards.
Remember, having a good credit score is crucial to be eligible for the Capital One Quicksilver. If you have limited credit history or have defaulted on a loan in the past five years, your best option may be the Capital One QuicksilverOne. It offers a pathway to rebuild your credit and potentially upgrade to the Quicksilver in the future.
In conclusion, both the Capital One Quicksilver and Capital One QuicksilverOne are solid options for cash back rewards. Consider your credit score and spending habits to determine which card suits you best.
Have more questions? Check out our FAQs section below.
Frequently asked questions (FAQs)
Q: What is the credit limit on the Capital One Quicksilver?
A: The credit limit offered on the Capital One Quicksilver depends on factors such as your credit score and the credit extended to you by Capital One. Credit limits can range from as low as $750 to as high as $10,000.
Q: How can I get a cash advance on the Capital One Quicksilver?
A: You can get a cash advance from your Capital One Quicksilver by visiting a physical bank or ATM and using your PIN. Another option is to utilize Capital One’s 24-hour travel assistance service. Remember, cash advances come with cash_advance_fee charges and accrue interest from the day of the transaction.
Q: How does rental car insurance work with the Capital One Quicksilver?
A: When you charge the full cost of a rental car to your Capital One Quicksilver, you’ll be eligible for the MasterRental insurance coverage. This coverage doubles the manufacturer’s warranty on items you purchase using the card, up to an additional 24 months. Please note that certain items are excluded, and the warranty extension only applies to warranties of 24 months or less.
Remember, for more information and to apply for the Capital One Quicksilver or Capital One QuicksilverOne, visit Personal Finances Blog.