topic Re: Capital One Quicksilver is becoming a dinosaur in Credit Cards

Capital One Quicksilver is becoming a dinosaur

Bandit5160 — Sun, 11 Jul 2021 00:10:28 GMT

This card offers 1.5% cash back on all purchases. But there are so many cards available with 2% cash back on all purchases now. I have a Citi Double Cash and a Synchrony MC that do just that. AND Wols Fargojust upgraded my Cashwise Visa into the 2% back Active Cash card. So is there really any need to keep the Quicksilver? I really don't see myself using it.

Re: Capital One Quicksilver is becoming a dinosaur

Yasselife — Sun, 11 Jul 2021 00:34:57 GMT

How many years of history does it have?

Re: Capital One Quicksilver is becoming a dinosaur

Yankee2 — Sun, 11 Jul 2021 00:42:00 GMT

I could see Capital One adding to this card in the future. They already have earlier this year to the Savor.

Since it doesn't have an AF, you could hold it until they close it for inactivity just to see.

However with your current credit mix, what they would possibly add to it probably still wouldn't be worth keeping.

Re: Capital One Quicksilver is becoming a dinosaur

JNA1 — Sun, 11 Jul 2021 00:46:29 GMT

@Yankee2 wrote:
I could see Capital One adding to this card in the future. They already have earlier this year to the Savor.

Since it doesn't have an AF, you could hold it until they close it for inactivity just to see.

However with your current credit mix, what they would possibly add to it probably still wouldn't be worth keeping.

DW keeps hers open because it her 2nd oldest account, but it doesn't get used besides for a few purchases per year to keep it open.

Re: Capital One Quicksilver is becoming a dinosaur

ChargedUp — Sun, 11 Jul 2021 00:52:13 GMT

@Bandit5160 wrote:
This card offers 1.5% cash back on all purchases. But there are so many cards available with 2% cash back on all purchases now. I have a Citi Double Cash and a Synchrony MC that do just that. AND Wols Fargojust upgraded my Cashwise Visa into the 2% back Active Cash card. So is there really any need to keep the Quicksilver? I really don't see myself using it.

While I agree that Cap One needs to step up their game on QS in the long run, it *does* fill a nice void for those with marginal or minimal credit profiles. The cards you list take a fairly clean profile to get in the door with. Cap One is pretty solid when it comes to letting those (re)building credit back in the door with the Platinum card and then allowing a PC to QS within a few months or so.

I don't believe there's another rebuilder card out there that earns cashback AND has no AF AND has no FTF...

As far as keeping the card when you have a solid credit profile, that's completely up to you. If you have a long history with the card, it doesn't cost you anything to keep it in the sock drawer, while giving it a couple minimal swipes now and then. You can also check for PC options now and then, as Cap One seems to offer different ones over time. How they decide what card can convert to what is a mystery aside from the Platinum->QS PC being pretty solid.

Re: Capital One Quicksilver is becoming a dinosaur

SunriseEarth — Sun, 11 Jul 2021 02:39:42 GMT

I haven't used my QS in over two years. I finally got a letter that says I need to use it by October 1st in order to prevent the card from being closed. It's my second oldest open CC, so I probably should. The only advantages to QS over other cards would be that you can get your rewards quickly and there is no redemption threshold.

Re: Capital One Quicksilver is becoming a dinosaur

icednightpaper — Sun, 11 Jul 2021 02:45:21 GMT

The only things I can think of for the Quicksilver are: no minimum redemption, no FTF/AF Visa, and SP CLIs (if not bucketed). Otherwise, it can fairly easily be beaten out by other general spend cards as said.

Re: Capital One Quicksilver is becoming a dinosaur

kilroy8 — Sun, 11 Jul 2021 03:15:47 GMT

Don't undervalue Quicksilver. It is a solid card. Not overly squeamish about fraud detection, you can run it right up to its CL and pay it off and Cap One won't even blink. If you are in a place where no cards seem to want to do a transaction, the Quicksilver will approve it.

It is a dependable, easy to use card with a solid return that is easy to redeem.

Re: Capital One Quicksilver is becoming a dinosaur

rgd51 — Sun, 11 Jul 2021 07:57:20 GMT

@kilroy8 wrote:
Don't undervalue Quicksilver. It is a solid card. Not overly squeamish about fraud detection, you can run it right up to its CL and pay it off and Cap One won't even blink. If you are in a place where no cards seem to want to do a transaction, the Quicksilver will approve it.

It is a dependable, easy to use card with a solid return that is easy to redeem.

Not a cap one fan here but yeah it still holds its own against the competition. 2% cards still aren't the norm to the general public. 1.5% is still the standard for flat rate cards. To the general public until the Wells Fargo card there was just the PayPal and double cash. On this site we are aware of all these CUs that give 2% cards but not everyone lives in an area with a CU like that. The CUs in my area are all 1.5%.

Re: Capital One Quicksilver is becoming a dinosaur

CreditCrusader — Sun, 11 Jul 2021 15:39:17 GMT

@kilroy8 wrote:
Don't undervalue Quicksilver. It is a solid card. Not overly squeamish about fraud detection, you can run it right up to its CL and pay it off and Cap One won't even blink. If you are in a place where no cards seem to want to do a transaction, the Quicksilver will approve it.

It is a dependable, easy to use card with a solid return that is easy to redeem.

That balance can also report, routinely, and they will not only not blink, but even give you a CLI on occasion.

Try that with some other CCCs and watch what happens.

Re: Capital One Quicksilver is becoming a dinosaur

gdale6 — Sun, 11 Jul 2021 15:55:38 GMT

I closed mine, just didnt need it and it remains onfile for up to 10 years post close anyway. I have no phobia of losing an oldest account once it drops in 10 years.

Re: Capital One Quicksilver is becoming a dinosaur

difringe — Sun, 11 Jul 2021 17:45:38 GMT

also, doesn't the citi double cash (and the td bank variant) only give you 2% if you pay off the purchase? quicksilver is 1.5% regardless, that's gonna be better for some ppl. you also used to be able to pc from the platinum to the qs (not sure if that's still the case), whereas with the paypal card, don't you have to meet the underwriting for the 2% card, rather than be able to pc to that card? there's still a place for the qs, even though there are absolutely way better cards than it

Re: Capital One Quicksilver is becoming a dinosaur

Anonymous — Sun, 11 Jul 2021 17:54:33 GMT

@Bandit5160 wrote:
This card offers 1.5% cash back on all purchases. But there are so many cards available with 2% cash back on all purchases now. I have a Citi Double Cash and a Synchrony MC that do just that. AND Wols Fargojust upgraded my Cashwise Visa into the 2% back Active Cash card. So is there really any need to keep the Quicksilver? I really don't see myself using it.

One possible reason is for foreign transaction fees. Double Cash and Active Cash both charge 3%, and the Sync Paypal is reintroducing one towards the end of the month, not sure about the Sync MC. Yes, there are some CU cards that are 2% with no FTF, but Capital One was one of the leaders in the no-FTF space, whereas others may add them

Re: Capital One Quicksilver is becoming a dinosaur

Runitup — Sun, 11 Jul 2021 18:22:13 GMT

Lowest balance transfer fee of all my cards at 2%.

Re: Capital One Quicksilver is becoming a dinosaur

Aim_High — Sun, 11 Jul 2021 22:45:36 GMT

I hesitate to close my Quicksilver but I've considered it.

It's one of my only two Mastercards.
Not my oldest card by far but open over 12 years now.
I spent a lot effort growing it from a $1K SL to $25K.
It has a reasonably-low APR of 11.90%, not bad for a rewards card.
No FTF on a No-AF card is a good deal, enough though I have others like that.
Lender Diversity with one of the major credit card players is a factor.
Quicksilver was an industry-leader in 1.5% uncapped cash back. I have hopes they might enhance the card again or offer a PC to a more competitive product.
Easy no-minimum redemption as soon as charges post probably influenced several other large lenders to follow suit.
Capital One has good tech support (Mobile app and website.)
Capital One has good fraud prevention. (They've alerted me to fraud immediately and before I had to report it.)
Capital One has good customer service based on my interactions with them.

In general, despite a few irritants like their triple-pull approvals, bucketed cards, or burdensome CLIs, I've had an overall positive experience with Capital One and think they're a lender I would like to keep in the fold.

Re: Capital One Quicksilver is becoming a dinosaur

Horseshoez — Sun, 11 Jul 2021 22:40:33 GMT

@Aim_High, well said, I couldn't agree more.

Re: Capital One Quicksilver is becoming a dinosaur

JNA1 — Sun, 11 Jul 2021 23:31:05 GMT

@Aim_High wrote:
I hesitate to close my Quicksilver but I've considered it.

It's one of my only two Mastercards.
Not my oldest card by far but open over 12 years now.
I spent a lot effort growing it from a $1K SL to $25K.
It has a reasonably-low APR of 11.90%, not bad for a rewards card.
No FTF on a No-AF card is a good deal, enough though I have others like that.
Lender Diversity with one of the major credit card players is a factor.
Quicksilver was an industry-leader in 1.5% uncapped cash back. I have hopes they might enhance the card again or offer a PC to a more competitive product.
Easy no-minimum redemption as soon as charges post probably influenced several other large lenders to follow suit.
Capital One has good tech support (Mobile app and website.)
Capital One has good fraud prevention. (They've alerted me to fraud immediately and before I had to report it.)
Capital One has good customer service based on my interactions with them.

In general, despite a few irritants like their triple-pull approvals, bucketed cards, or burdensome CLIs, I've had an overall positive experience with Capital One and think they're a lender I would like to keep in the fold.

There's no way I would close your QS.
If everybody had your experience with Cap 1, I think a lot of people would feel differently about them. I do like a lot of things about the card, and especially the app, redemption, and instant crediting of payments.
I hope at some point they offer a card that would benefit us, because there is a lot to like about them. I wish they'd offer some kind of 5% card, because I'd be all over that.

As it is now, the only card they offer that would even come close to benefiting us would be the Savor, but as it is now, I get 3.75% on dining with my Synovus Travel Rewards with a $50 AF vs 4% dining on the Savor with a $95 AF, so it doesn't make sense for us.

C'mon Cap 1 - boot Samuel L and Jennifer Garner and save some money by getting "Ron from Cap One" to do your advertising and offer us some good cards! 😂😂😂

Re: Capital One Quicksilver is becoming a dinosaur

rgd51 — Sun, 11 Jul 2021 23:49:14 GMT

@JNA1 wrote:
@Aim_High wrote:
I hesitate to close my Quicksilver but I've considered it.

It's one of my only two Mastercards.
Not my oldest card by far but open over 12 years now.
I spent a lot effort growing it from a $1K SL to $25K.
It has a reasonably-low APR of 11.90%, not bad for a rewards card.
No FTF on a No-AF card is a good deal, enough though I have others like that.
Lender Diversity with one of the major credit card players is a factor.
Quicksilver was an industry-leader in 1.5% uncapped cash back. I have hopes they might enhance the card again or offer a PC to a more competitive product.
Easy no-minimum redemption as soon as charges post probably influenced several other large lenders to follow suit.
Capital One has good tech support (Mobile app and website.)
Capital One has good fraud prevention. (They've alerted me to fraud immediately and before I had to report it.)
Capital One has good customer service based on my interactions with them.

In general, despite a few irritants like their triple-pull approvals, bucketed cards, or burdensome CLIs, I've had an overall positive experience with Capital One and think they're a lender I would like to keep in the fold.

There's no way I would close your QS.
If everybody had your experience with Cap 1, I think a lot of people would feel differently about them. I do like a lot of things about the card, and especially the app, redemption, and instant crediting of payments.
I hope at some point they offer a card that would benefit us, because there is a lot to like about them. I wish they'd offer some kind of 5% card, because I'd be all over that.

As it is now, the only card they offer that would even come close to benefiting us would be the Savor, but as it is now, I get 3.75% on dining with my Synovus Travel Rewards with a $50 AF vs 4% dining on the Savor with a $95 AF, so it doesn't make sense for us.

C'mon Cap 1 - boot Samuel L and Jennifer Garner and save some money by getting "Ron from Cap One" to do your advertising and offer us some good cards! 😂😂😂

I agree, there is lots to like about them but most people here on this board have a good experience building or rebuilding with them but once you've built or rebuilt your credit they bucket your card, don't let you PC the QS1 to a QS, don't let you combine CLs, the customer service people aren't very helpful, etc.

I used them to build my credit when I had none and have no regrets about it but I prefer chase more as they treat me better and don't play games like cap one. Although chase doesn't give you the rewards until the statement posts but that's pretty standard in the industry.

Re: Capital One Quicksilver is becoming a dinosaur

Aim_High — Sun, 11 Jul 2021 23:53:31 GMT

@JNA1 wrote:
@Aim_High wrote:
I hesitate to close my Quicksilver but I've considered it ...
There's no way I would close your QS.
If everybody had your experience with Cap 1, I think a lot of people would feel differently about them. I do like a lot of things about the card, and especially the app, redemption, and instant crediting of payments.
I hope at some point they offer a card that would benefit us, because there is a lot to like about them. I wish they'd offer some kind of 5% card, because I'd be all over that ...

Thanks for the feedback, @JNA1. Yes, I think I value it too much to close it but at the same time, it doesn't add much rewards value in present format.

I've spent a lot of time improving my card lineup in recent years. There's a part of me that wants to focus on my best cards (only) and close the lesser-used ones. Some degree of simplicity is part of my strategy, although I balance the simplicity with lender diversity and rewards potential. In the past two years for uncapped and uncategorized spend, I've added the AOD FCU Visa for 3%, Bank of America Premium Rewards (with Platinum Honors) for 2.625%, the Goldman Sachs Apple Card for 3%/2%/1%, and the PenFed Power Cash Rewards for 2%.

My Apple card is the closest thing to replacing the Quicksilver. It's also a Mastercard. It's also with another major US bank. It has a slightly lower APR of 10.90% versus 11.90% on QS. It also has no FTF. I've worked it to a higher credit limit of $30K versus $25K in a shorter amount of time that it took to get that Capital One limit. If used in the proper context for better rewards, it has the ability to outearn QS even though the base rate with the physical card is only 1% versus the 1.5% on QS, since it offers 2% on Apple Pay and 3% on selected merchants including Apple. And, for aesthetics, it's a cool premium titanium metal card.

For now, I'll probably continue to keep QS open with some periodic usage. But if I go for another five years and Capital One has not either enhanced the product or offered PC to a more attractive new card (besides the present-version of Venture or Savor), it will become increasingly hard to justify keeping it open.

Re: Capital One Quicksilver is becoming a dinosaur

MrDisco99 — Mon, 12 Jul 2021 00:31:01 GMT

One of my long term plans was to get a PayPal MC as a foreign charges card for 2% cash back and no AF, and possibly drop the Cap1 QS. But then I heard PPMC is adding FTF so I guess I'm keeping the QS.

Yeah there are other cards with 2% and no FTF but they typically have many strings attached which the QS doesn't have.