Which is better Cap1 Quicksilver or Chase Freedom

[Skye12329]

I was just wondering which is better in the long run? I like cash back cards and i am trying to compare the 2 cards. I noticed the Quicksilver gives 1.5% and is a visa signature card, of which i do plan on travelling within the U.S though, but Chase gives up to 5% in categories, im not totally sure on the restrictions with Chase though, i know its X  amount of dollars be spent to get the 5% then it goes back down to 1% can someone also elaborate that for me?

[manwoot]

You always get 1% back on the Chase Freedom, no matter what.

Like Discover, you get rotating categories 4 times a year (every 3 months) that determines what you get 5% back on.  For example, July-August-September you get 5% on all purchases made at gas stations.

2013 Chase Freedom Categories:

[Skye12329]

I understand the categories part, but isnt there a cap for how much you can spend? is it $1500 for all categories or just one category? Per month or all 3 months? i think 1500 is the limit...?

[manwoot]

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@Skye12329 wrote:

I understand the categories part, but isnt there a cap for how much you can spend? is it $1500 for all categories or just one category? Per month or all 3 months? i think 1500 is the limit...?

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$1,500 per category/quarter (so a total of $6000 per year) then back to the standard 1%.

[09Lexie]

Better depends on what you are looking for in a credit card. Clarification, not all QuickSilver are Signatures and Chase offers a Freedom in Signature. The UR can be considered more valuable than Capital One. The benefit if the rotating categories are only as effective as your spending. Non rotating cat for Freedom is 1% vs QuickSilver's 1.5%.

Again, it will really depend on your spending and desire to have Cap1 or Chase.

[Skye12329]

Alright thats good to know, now i have to figure out which would be better in the long run 1.5% back all the time or rotating...

[hutchj]

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@09Lexie wrote:
Better depends on what you are looking for in a credit card. Clarification, not all QuickSilver are Signatures and Chase offers a Freedom in Signature. The UR can be considered more valuable than Capital One. The benefit if the rotating categories are only as effective as your spending. Non rotating cat for Freedom is 1% vs QuickSilver's 1.5%.

Again, it will really depend on your spending and desire to have Cap1 or Chase.

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+1

[hutchj]

Personally, I value the Chase Freedom b/c of the UR mall. You can buy things through it and earn an additional 1-5% back on items. I bought my airline tickets through it and I got the standard 1% back as well as 2% for booking through Travelocity through the UR Mall.

[longtimelurker]

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@hutchj wrote:

Personally, I value the Chase Freedom b/c of the UR mall. You can buy things through it and earn an additional 1-5% back on items. I bought my airline tickets through it and I got the standard 1% back as well as 2% for booking through Travelocity through the UR Mall.

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Well, I get great value through Cap One's Perk Central, getting 10-12% on the handful of vendors I use.   But that is going away in Nov.

As to which is better, depends on a few critical things:

1) What is your valuation of a UR point?  If it above 1.5c, then Freedom is going to be better all the time, and more so in the 5% categories.   This depends on you a) having a card that allows you to transfer (CSP, Ink etc) and b) that you do transfer the points when you redeem.

2) If you don't transfer, and use Freedom as a simple Cash Back card, the questions are your total spend and how much you can use of the 5% categories.

To be overly precise, say your total spend is $X and you can use all $6K of the 5% categories.

Return with freedom:   0.05*$6,000 + 0.01*(X- 6000) = $240 +0.01X

Return with QS: 0.015X

So QS is better when 0.005X > 240, i.e. with $48K annual spend.   If you cannot use all the Freedom 5%, the figure is less.

This ignores the 10% for Freedom with a checking account and differences in malls etc.