topic Re: Any use for CapOne Quicksilver now? in Credit Cards

Any use for CapOne Quicksilver now?

Anonymous — Sat, 27 Dec 2014 19:45:44 GMT

Citi released (or at least I heard about) it's double cash back card a month after I had just gotten a Capital One Quicksilver. The sign on bonus to the Capital one was nice, but now that that's over it pretty much seems inferior in every way to the citi card? Is there anything usful I could convert it into? Or should I just let it go inactive? My util is fine so I'm not sure it's worth actively trying to keep capital one from closing it.

Re: Any use for CapOne Quicksilver now?

mongstradamus — Sat, 27 Dec 2014 19:48:03 GMT

@Anonymous wrote:
Citi released (or at least I heard about) it's double cash back card a month after I had just gotten a Capital One Quicksilver. The sign on bonus to the Capital one was nice, but now that that's over it pretty much seems inferior in every way to the citi card? Is there anything usful I could convert it into? Or should I just let it go inactive? My util is fine so I'm not sure it's worth actively trying to keep capital one from closing it.

I know there is an lot of cap one hate on this forum, but here are some redeeming qualities of QS over doublecash or fidelity amex. There is no min redemption values, no FTF, and rewards are instantly redeemed.

Re: Any use for CapOne Quicksilver now?

gdale6 — Sat, 27 Dec 2014 19:57:51 GMT

@Anonymous wrote:
Citi released (or at least I heard about) it's double cash back card a month after I had just gotten a Capital One Quicksilver. The sign on bonus to the Capital one was nice, but now that that's over it pretty much seems inferior in every way to the citi card? Is there anything usful I could convert it into? Or should I just let it go inactive? My util is fine so I'm not sure it's worth actively trying to keep capital one from closing it.

There is a difference the Cap-1 is 1.5 no matter if you carry a balance or not, the Citi card requires you to pay it to get the second 1% and not everyone can PIF so the card would be a detriment in this case. I would just SD the card or try to PC it to the Venture.

welcome to the board

Re: Any use for CapOne Quicksilver now?

Anonymous — Sat, 27 Dec 2014 20:00:21 GMT

@gdale6 wrote:
@Anonymous wrote:
Citi released (or at least I heard about) it's double cash back card a month after I had just gotten a Capital One Quicksilver. The sign on bonus to the Capital one was nice, but now that that's over it pretty much seems inferior in every way to the citi card? Is there anything usful I could convert it into? Or should I just let it go inactive? My util is fine so I'm not sure it's worth actively trying to keep capital one from closing it.
There is a difference the Cap-1 is 1.5 no matter if you carry a balance or not, the Citi card requires you to pay it to get the second 1% and not everyone can PIF so the card would be a detriment in this case. I would just SD the card or try to PC it to the Venture.

welcome to the board

It's not as if you lose the 2nd 1% if you don't PIF on the DC, you get 1% on whatever you pay. ANd since you have to pay it back eventually, you do get the 2%. (Of course, if you are regularly carrying a balance, you want a low APR card, and the DC isn't that for many)

Re: Any use for CapOne Quicksilver now?

jason86423 — Sat, 27 Dec 2014 20:00:35 GMT

I used my quicksilver in Canada yesterday and last night- No transaction fees, no issues using it on one side to the other of Ontario as I was driving through. Even stopped at Fallsview Casino and used it there as well. One of the nice features is it instantly shows the correct amount of the transaction in US dollars.

While this card is barely used, it does have a purporse in my wallet.

Re: Any use for CapOne Quicksilver now?

kdm31091 — Sat, 27 Dec 2014 20:13:12 GMT

I find the Double Cash structure is kind of weird. Yes, you will eventually pay it off and get the full 2%, but to me, it's nicer to get the rewards instantly. You shouldn't be carrying a balance on a card like that, but, **bleep** happens sometimes, and it's nice to know that Quicksilver will give you the 1.5% no matter what. Plus, the rewards show up instantly (when the transaction clears); Double Cash you have to wait for the statement. Also, not that you would tend to redeem a reward for say, 7 bucks, but the QS has no redemption minimum. Double Cash you must reach 25 bucks. At least you have the option to do as you please with QS. It is really hassle free in every way.

Double Cash is obviously mathmatically better in terms of rewards, but the difference is pretty small and I feel that the Quicksilver is more user-friendly overall. I dont think it's a useless card just yet, because the Double Cash is targeting a specific type of person - one who pays in full ,every month. Otherwise you are only getting 1% immediately, which is a standard reward. If you even ever carry a small balance, the QS is better. I don't think you should get rid of it for the Double Cash because at least in my view it is not too huge of an upgrade.

Finally, be careful with the Double Cash because a lot of people, myself included, got lower limits and higher APRs than is the "norm" for them, with the Double Cash card. I don't know why, but almost anyone on this board who has a DC says their limit and APR are not as good as they should be. Cap1 is far from the most generous lender, either, but just be forewarned.

Re: Any use for CapOne Quicksilver now?

Anonymous — Sat, 27 Dec 2014 20:22:24 GMT

@kdm31091 wrote:
If you even ever carry a small balance, the QS is better. I don't think you should get rid of it for the Double Cash because at least in my view it is not too huge of an upgrade.

While I am a huge supporter of the QS (for many of the reasons you mentioned), I still disagree with "if you even ever carry a small balance, the QS is better" Yes, you get 1.5% straight away vs 1%, but eventually you get another 1%, and if the .5% advantage for QS matters, so does the 0.5% advantage of DC later on!

I think DC first of all hurts the Fidelity Amex, but I suspect that many will go for the DC rather than QS. Yes, people got low limits and high APRs, but on this forum at least, most people don't rave about high limits from Cap One, nearly as much as they complain about the triple pull.

So in general, I would advise people without either to go for the DC first, unless they need a card without FTF.

Re: Any use for CapOne Quicksilver now?

BottomRanker — Sat, 27 Dec 2014 20:35:04 GMT

Quicksilver is way better to me

* 0% FTF

* Redeem from $0.01, in any amount

* 1.5% on everything

Double Cash is inferior because:

* 3% FTF

* Redeem in multiples of $25 (not any amount)

* 1% on purchases + 1% on payments. You lose 1% if you redeem cashback for a statement credit!

(I don't have the Double Cash so I'm only going off what I've read.)

Re: Any use for CapOne Quicksilver now?

yfan — Sat, 27 Dec 2014 20:35:23 GMT

@kdm31091 wrote:
Finally, be careful with the Double Cash because a lot of people, myself included, got lower limits and higher APRs than is the "norm" for them, with the Double Cash card. I don't know why, but almost anyone on this board who has a DC says their limit and APR are not as good as they should be. Cap1 is far from the most generous lender, either, but just be forewarned.

The reason for this, I think, is fairly obvious. 2% is about what Citi makes from swipes (maybe even a little less, after MC takes its cut). To make up for coming up even, they want to be able to impose other fees, like finance charges, over limit fees, and interest. Hence the low limits and high interest.

And despite what most seem to say here, My QS Visa IS actually now my 3rd highest limit card. :-)

Re: Any use for CapOne Quicksilver now?

Anonymous — Sat, 27 Dec 2014 20:36:58 GMT

Thanks for the responses! You're right about the low DC limit, even though it has the nice 0% APR for 15 months the limit doesn't let me take too much advantage of that. All the same bank interest rates are so bad right now might as well just PIF if you can.

I guess the no FTFs is worth keeping the QS for. Is this a hard thing to find in other cards?

I'm not too worried about the min redemption since I currently use the DC as my primary card. I don't like being a slave to categories and Amex declined me for BCP too many inqs and new accounts. Next year....

Re: Any use for CapOne Quicksilver now?

yfan — Sat, 27 Dec 2014 20:45:50 GMT

@Anonymous wrote:
I guess the no FTFs is worth keeping the QS for. Is this a hard thing to find in other cards?

At that high a reward rate without an AF and with straight cashback, there are no other cards with no FTF. Discover IT comes the closest, 1% base reward and no FTF.

The Orbitz Visa by Comenity does have 2% flat rewards on everything and no FTF, but you can only redeem for hotel rooms booked through Orbitz.

Re: Any use for CapOne Quicksilver now?

kdm31091 — Sat, 27 Dec 2014 21:03:00 GMT

It all comes down to perspective. To me the QS is a better all around card because the rewards feel like less of a hassle. If you are seeking the absolute highest reward rate yes you want a Double Cash. If you are a big spender, it will earn you much more over time, and you will always eventually get 2%.

For me, I'm a more moderate spender, occasionally have to carry a small balance, etc, so the QS is less of a hassle for me. But your milage will vary. Every person is different.

Re: Any use for CapOne Quicksilver now?

wacdenney — Sat, 27 Dec 2014 21:05:28 GMT

Unfortunately QS is obsolete. Now times 2 since DC came out. I am using mine for the intro APR to carry my Christmas balance for a few months, but once that's paid off I can't think of any good reason to reach for QS over Fidelity AMEX.

If you're jet setting around the world, there are better no FTF options than QS and I'm not exactly sure what it means if you need to redeem your rewards for $15 bucks or whatever.

The best use of QS at this point is to service Capital One's bread and butter sub-prime market. If you can't get a DC or Fidelity AMEX then yes QS is the best card for you in that situation. In that regard the card still serves a valuable purpose and has a place in the market.

Re: Any use for CapOne Quicksilver now?

bdhu2001 — Sat, 27 Dec 2014 21:06:08 GMT

@yfan wrote:
@Anonymous wrote:
I guess the no FTFs is worth keeping the QS for. Is this a hard thing to find in other cards?
At that high a reward rate without an AF and with straight cashback, there are no other cards with no FTF. Discover IT comes the closest, 1% base reward and no FTF.

The Orbitz Visa by Comenity does have 2% flat rewards on everything and no FTF, but you can only redeem for hotel rooms booked through Orbitz.

I just got the Quicksilver, by mistake, because I thought they were the bank that would be offering the EQ 08. Are you saying that there is no Foreign Transaction Fee? If that's the case, it'll become my go-to-travel card.

I've been thinking about applying for the Double Cash, for the FICO score and the rewards, but adding another card to the rotation. Not so sure.

Re: Any use for CapOne Quicksilver now?

Anonymous — Sat, 27 Dec 2014 21:08:48 GMT

@BottomRanker wrote:
Quicksilver is way better to me
* 0% FTF
* Redeem from $0.01, in any amount
* 1.5% on everything

Double Cash is inferior because:
* 3% FTF
* Redeem in multiples of $25 (not any amount)
* 1% on purchases + 1% on payments. You lose 1% if you redeem cashback for a statement credit!

(I don't have the Double Cash so I'm only going off what I've read.)

Well, that last DC inferior point is really an advantage, because it IS 2% which beats 1.5%

The statement credit reduces the reward to 1.99%, which a) beats 1.5% and b) is easily avoided by redeeming to your bank account, which gives more flexibility anyway.

Re: Any use for CapOne Quicksilver now?

kdm31091 — Sat, 27 Dec 2014 21:10:04 GMT

At a certain point I think have two of the "same purpose" cards becomes self-defeating. DC and QS are both basically for general spend. I don't feel anyone needs two cards for just general spending. If you have two "same purpose" category cards, such Discover IT and Freedom, or two grocery cards with the same structures, etc, you end up splitting your spending and therefore splitting rewards. One card for each purpose tends to be enough in my opinion to maximize your rewards. I'd rather redeem rewards from one card for $40 then having two cards with $20 in rewards each.

Re: Any use for CapOne Quicksilver now?

Anonymous — Sat, 27 Dec 2014 21:10:14 GMT

@bdhu2001 wrote:
@yfan wrote:
@Anonymous wrote:
I guess the no FTFs is worth keeping the QS for. Is this a hard thing to find in other cards?
At that high a reward rate without an AF and with straight cashback, there are no other cards with no FTF. Discover IT comes the closest, 1% base reward and no FTF.

The Orbitz Visa by Comenity does have 2% flat rewards on everything and no FTF, but you can only redeem for hotel rooms booked through Orbitz.
I just got the Quicksilver, by mistake, because I thought they were the bank that would be offering the EQ 08. Are you saying that there is no Foreign Transaction Fee? If that's the case, it'll become my go-to-travel card.

I've been thinking about applying for the Double Cash, for the FICO score and the rewards, but adding another card to the rotation. Not so sure.

Capital One cards have no FTF.

Re: Any use for CapOne Quicksilver now?

BottomRanker — Sat, 27 Dec 2014 21:11:47 GMT

@wacdenney wrote:
If you're jet setting around the world, there are better no FTF options than QS

Such as what cards? And before you list cards with expensive annual fees, there are people who don't spend enough to come out 1.5% rewards ahead of those annual fees.

Re: Any use for CapOne Quicksilver now?

yfan — Sat, 27 Dec 2014 21:18:38 GMT

@wacdenney wrote:
Unfortunately QS is obsolete. Now times 2 since DC came out. I am using mine for the intro APR to carry my Christmas balance for a few months, but once that's paid off I can't think of any good reason to reach for QS over Fidelity AMEX.

If you're jet setting around the world, there are better no FTF options than QS and I'm not exactly sure what it means if you need to redeem your rewards for $15 bucks or whatever.

Obsolete to you isn't obsolete to everyone else. And no, there are no better no FTF, no AF, cash rewards options than the QuickSilver.

Also, one needs not "jet set" around the world for the no FTF to be useful and attractive. Lots of Americans (myself included) have family in other countries they visit once a year or so. There are other occasional travelers. Others' idea of a foreign trip is Vancouver or Mexico City. Still others may wish to buy an item only available through a foreign currency and have it shipped here. Everyone's needs are different.

Re: Any use for CapOne Quicksilver now?

wacdenney — Sat, 27 Dec 2014 21:19:11 GMT

@BottomRanker wrote:
@wacdenney wrote:
If you're jet setting around the world, there are better no FTF options than QS
Such as what cards? And before you list cards with expensive annual fees, there are people who don't spend enough to come out 1.5% rewards ahead of those annual fees.

Yes, my better options would be travel oriented cards that do have anual fees. CSP or Marriott would likely be my go to cards both of which would beat 1.5% depending upon how I went about redeeming the rewards. I don't have one, but Barclay Arrival also comes to mind.

I personally only travel domestically but I would assume someone traveling around the world would benefit even more than myself from a travel oriented card. Generally the rewards easily cover the AF. The anual free night on Marriott for example would come in handy when traveling and more than covers the AF.