Bone to pick with Quicksilver & Question?

[Anonymous]

Hey FICOer's! You can see in my siggy that I am a big cash back lover when it comes to credit cards. I've been recently for some odd reason becoming obsessed with the Capital One Quicksilver card (probably mainly due to that $100 sign-up bonus after you spend $500 in 90 days). One thing that is bothering me, however, is the 0% intoductory APR that is only good for 9 months. 

How come other cards (like the BoA Cash Rewards, Discover It, or Chase Freedom) have 12 or 15 months with 0% APR and most times have the same $100 sign-up bonus, but the Quicksilvers is only 9 months? Does Capital One ever have promotions going on where it's sometimes $200 cash back or 15 months no APR? I've been keeping my eye on the Quicksilver website for a few months now and it's just been the same promotion. 

I'm going to be looking to app for either the Capital One Quicksilver or the Citi Double Cash Card coming up here in a few months. I like the 15 months 0% APR with 2% cash back with the Double Cash, but I also like Capital One's $100 sign-up bonus on the Quicksilver. I run about $300-400 a month on my credit cards. Which one would be the most beneficial when it comes to getting the most cash rewards for me personally? 

[kdm31091]

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@Anonymous wrote:

Hey FICOer's! You can see in my siggy that I am a big cash back lover when it comes to credit cards. I've been recently for some odd reason becoming obsessed with the Capital One Quicksilver card (probably mainly due to that $100 sign-up bonus after you spend $500 in 90 days). One thing that is bothering me, however, is the 0% intoductory APR that is only good for 9 months. 

How come other cards (like the BoA Cash Rewards, Discover It, or Chase Freedom) have 12 or 15 months with 0% APR and most times have the same $100 sign-up bonus, but the Quicksilvers is only 9 months? Does Capital One ever have promotions going on where it's sometimes $200 cash back or 15 months no APR? I've been keeping my eye on the Quicksilver website for a few months now and it's just been the same promotion. 

I'm going to be looking to app for either the Capital One Quicksilver or the Citi Double Cash Card coming up here in a few months. I like the 15 months 0% APR with 2% cash back with the Double Cash, but I also like Capital One's $100 sign-up bonus on the Quicksilver. I run about $300-400 a month on my credit cards. Which one would be the most beneficial when it comes to getting the most cash rewards for me personally? 

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It's generally only 9 months with QS. Capital One isn't known for changing up their offers very much.

Your second question is pretty easy. If you are spending $400 a month on a 1.5% Quicksilver, you'll get $6 a month out of it plus the $100 bonus. The same spend on a Double Cash gives you $8 a month. It would take over a year before the Double Cash would overtake the Quicksilver rewards in that case. So I'd go with the QS, personally, unless the longer 0% really matters to you.

With that low of spend though, is it really worth even opening another new account for not even $10 a month in benefits? Note that even if all $400 of that only got you 1% on your BOA card, you're still getting $4 which is not that much less when we're talking about such tiny amounts of money.

[OmarGB9]

I agree with kdm. $300-$400 a month isn't much when you're contemplating a 0.5% difference in cash back. It has been stated here before that $20k/year is the threshold for the DC to overtake the QS in terms of cash back (the first year). Not to mention the QS is hassle free to get your cash back whereas with Citi it's somewhat annoying that you get 1% at transaction post and the other 1% at the next statement (after paying, of course) AND there's a $25 minimum redemption limit.

[Anonymous]

OP seems to be sitting pretty. Great car, even better rate, and no toy limit cards. Plus a NPSL for extra flexibility.

Would be silly to waste a triple pull for a capital one card at this point.  I would encourage you to find a credit union that only does 1 hard inquiry, or maybe even 2 soft pulls (nasa). There are plenty of other cards out there that would better suit you for a general spend card!

How much money are you going to run through the card?  What is your APR on the cash rewards?  Do you get the bonus cash back with them for banking?

If anything, I would app for a BBR, as it has 0 for 12 months, and will for years to come offer you $30 every quarter. Throw netflix on it, set it to auto pay, and forget it.

And if you really wanted to tick off KDM, you could use that same hard inquiry and grab a Travel Rewards as it has $200 back and unlimited 1.65% if redeemed for travel, although I'd prefer you go for the Amtrak card as its bonus is worth 3-5 times as much.

I would not apply for anything if I were you. Just hang tight for now...

[OmarGB9]

For some reason I thought OP had QS already and wanted a DC in its place. Totally misunderstood the first post. Disregard my previous post then, op. My bad. But yes keep in mind if you go for a QS, it'll be a triple pull and shorter 0% intro APR than the DC.

[kdm31091]

My point was that at that spend theres little point in even opening a new card really.

[delaney1]

I got my QS in June and have 0% until May 2016

[Anonymous]

You may be looking at a double pull (Ex and Eq ) for the Double Cash and definitely 3 pulls for Cap One.

[Anonymous]

Haha far from "sitting pretty." I'm 19 making around $22k a year. I saved a long time for that vehicle of mine and about 65% of my monthly income goes to the payment. (I know it's crazy, but nothing makes me happier than that Mustang). Only responsibilities I pretty much have is my $315 monthly car payment and my share of $325 monthly rent with my partner.

But regarding the credit cards, you are saying they triple pull for the Quicksilver?! I only read on here that's for their Venture card?

[Anonymous]

Triple pull is for all of their cards. Only exception I've read about is Buypower. Its just what they do.