BankAmericard Cash Rewards vs Capital One Quicksilver

[IcEWoLF]

Both of these cards offer $100 cash bonus after $500 spending, but which card would you go with if you wanted to pick one?

[coldnmn]

It's about you. What rewards gets you the most bang. It also depends how valuable inquiries are to you as Cap1 pulls all three credit reports. What's good for us may not be the best for you.

[Creditaddict]

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@IcEWoLF wrote:

Both of these cards offer $100 cash bonus after $500 spending, but which card would you go with if you wanted to pick one?

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If you want Visa then I would pick Capital One Quicksilver because I like the 1.5% for daily use vs rotating.

If you don't mind Amex then I would pick Fidelity Amex (BofA) because it's 2% with no rotating or max so it's best for dialy use in my opinion and it has bonus too... might even be $150, I forget.

[Membersince2013]

I personally would pick the CAP1 Silver because you get 1.5% cashback on every purchase. The BOA Cash Rewards (i think it's also called power 1,2,3) is based on spending on certain categories. I pay my tiution with my credit card sometimes, so i take advantage of the 1.5% on everything.

[IcEWoLF]

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@coldnmn wrote:

It's about you. What rewards gets you the most bang. It also depends how valuable inquiries are to you as Cap1 pulls all three credit reports. What's good for us may not be the best for you.

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Oh jesus, I didn't know they pull all 3...what about prequalified offers? Do they do the same?

This inquiry is mainly for my parents, they don't have many inquiries on their credit report over the past 2 years. (Maybe 1-2)

[One7]

Cap one always pulls all three. Not cool in my opinion. But both cards are very useful so it all depends on how you spend. 

[IcEWoLF]

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@Membersince2013 wrote:

I personally would pick the CAP1 Silver because you get 1.5% cashback on every purchase. The BOA Cash Rewards (i think it's also called power 1,2,3) is based on spending on certain categories. I pay my tiution with my credit card sometimes, so i take advantage of the 1.5% on everything.

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Good point, they use their card mainly for groceries, they also already have the AMEX blue cash, but they wanted something that also offered some additional perks like cash bonuses as well to maximize their return.

They already have the Freedom/Discover It combo atm. They are now looking to add another card to their portfolio to maximize overall rewards.

They do not however want another AMEX since not all places take them, so a Visa/MC card is a must. We are currently leaning towards the BoA Cash Rewards since they have good relationship with them, and 2 cards that are close to 7-8 years old with them.

[manwoot]

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@IcEWoLF wrote:

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@Membersince2013 wrote:

I personally would pick the CAP1 Silver because you get 1.5% cashback on every purchase. The BOA Cash Rewards (i think it's also called power 1,2,3) is based on spending on certain categories. I pay my tiution with my credit card sometimes, so i take advantage of the 1.5% on everything.

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Good point, they use their card mainly for groceries, they also already have the AMEX blue cash, but they wanted something that also offered some additional perks like cash bonuses as well to maximize their return.

They already have the Freedom/Discover It combo atm. They are now looking to add another card to their portfolio to maximize overall rewards.

They do not however want another AMEX since not all places take them, so a Visa/MC card is a must. We are currently leaning towards the BoA Cash Rewards since they have good relationship with them, and 2 cards that are close to 7-8 years old with them.

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If they're looking for a Visa card and want something for groceries, maybe they should look into the PenFed Platinum Rewards card.  It's a Visa Signature card, 5 points on gas, 3 points on groceries, and 1 point on everything else.  Also has one of the lowest APR I've seen on a rewards card (9.99%).

[IcEWoLF]

I am also putting the US Bank Cash+ Card on the list, only pain is that you have to apply at a branch, credit score/inquiries is not a concern for them, we just want something that is good and worthwhile for them, a sign up bonus is a big + for them.

They have been also using the WF Cash Back card the last 6 months and the 5% rewards is about the expire for that card this month...so that card is not going to be used much if not ever.

[coldnmn]

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@IcEWoLF wrote:

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@coldnmn wrote:

It's about you. What rewards gets you the most bang. It also depends how valuable inquiries are to you as Cap1 pulls all three credit reports. What's good for us may not be the best for you.

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Oh jesus, I didn't know they pull all 3...what about prequalified offers? Do they do the same?

This inquiry is mainly for my parents, they don't have many inquiries on their credit report over the past 2 years. (Maybe 1-2)

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With established credit and few inquiries if Cap 1 is the best fit no big deal. It's not like trying to start establishing credit and each inquiry is precious.