Bone to pick with Quicksilver & Question?

[Anonymous]

I agree that it's silly to app for a new card now when my Freedom is literally 3 months old. I mentioned in my post that it may come across my mind to app in the next few months, but I'm thinking I am just going to wait until next year when my 0% APR ends with my Freedom. I was just wondering which card would be the best cash reward-wise.

[Anonymous]

So basically this is what I got:

Quicksilver - $100 bonus, but 0% APR for ONLY 9 months. Triple pull for applying. 1.5% cash back.

Double Cash - 0% APR for 15 months, tougher to get from what I heard, 2% cash back with no sign-up bonus. Would be cost effective in a year compared to Quicksilver.

So basically, the Quicksilver sounds like it wins the vote. However... Those three hard inquiries... Holy. That throws me down just thinking about it.

[OmarGB9]

On the plus side, once you're in with cap1, all CLI requests are always SP! Which kinda makes up for the triple pull I suppose.

[TiggerDat]

Aren't there any other 1.5% cash back cards out there that also have a sign up bonus?  Ones without a triple pull.

On a side note, but related to the triple pull, I got an email from CapOne to give feedback about a recent survey I took.  My complaint was not about the triple pull, but their temporary APR reduction policy.  They called me about the feedback I gave and while I had them on the phone I mentioned the triple pull for getting credit.  The lady told me the reason they did that was to insure that they gave the customer the best rate and limit and also to avoid any legal issues.  I had to chuckle at that last part, since if that were really the case then every other bank would be doing the same.  I also imagine that if it were about giving the best rate and limit then there would be a builty in safety variance.  While scores can be different with each bureau, I believe they usually are fairly similar, since they do share information.  I think the biggest differences are usually during the times something new is reported.

[longtimelurker]

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@Anonymous wrote:
So basically this is what I got:

Quicksilver - $100 bonus, but 0% APR for ONLY 9 months. Triple pull for applying. 1.5% cash back.

Double Cash - 0% APR for 15 months, tougher to get from what I heard, 2% cash back with no sign-up bonus. Would be cost effective in a year compared to Quicksilver.

So basically, the Quicksilver sounds like it wins the vote. However... Those three hard inquiries... Holy. That throws me down just thinking about it.

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KDM said "over a year", actually much more in your case.   As he said, on $400 a month, QS earns $6 a month, DC $8.   A difference of $2 a month.   So to make up $100 bonus, it will take 50 months, or over 4 years.    The less you spend, the more time it takes for the higher earning of the DC to overcome the lack of signing bonus.

This doesn't take into account the longer 0% APR, if you actually needed to carry a balance for more than 9 months (as compared to doing so just to take advantage of a 0% APR) and you had no other lower cards, the interest saved on the DC would reduce the payback time.

[Open123]

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@longtimelurker wrote:

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@Anonymous wrote:
So basically this is what I got:

Quicksilver - $100 bonus, but 0% APR for ONLY 9 months. Triple pull for applying. 1.5% cash back.

Double Cash - 0% APR for 15 months, tougher to get from what I heard, 2% cash back with no sign-up bonus. Would be cost effective in a year compared to Quicksilver.

So basically, the Quicksilver sounds like it wins the vote. However... Those three hard inquiries... Holy. That throws me down just thinking about it.

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KDM said "over a year", actually much more in your case.   As he said, on $400 a month, QS earns $6 a month, DC $8.   A difference of $2 a month.   So to make up $100 bonus, it will take 50 months, or over 4 years.    The less you spend, the more time it takes for the higher earning of the DC to overcome the lack of signing bonus.

This doesn't take into account the longer 0% APR, if you actually needed to carry a balance for more than 9 months (as compared to doing so just to take advantage of a 0% APR) and you had no other lower cards, the interest saved on the DC would reduce the payback time.

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Right, contrary to what most espouse, the lesser a person's annual spending, the more valuable and higher return the sign-up bonus.  Conversely, the more a person spends, the less valuable the sign-up bonus, and the more valuable rewards on spend (MS, which I'd never advocate, even in spirit).