Any use for CapOne Quicksilver now?

Anonymous · ‎12-27-2014

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.

mongstradamus · ‎12-27-2014

@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.

EX Fico 804 11/16/16 Fako 800 Credit.com 11/16/16
EQ SW bank enhanced 11/16/16 839 CK fako 822 11/16/16
TU Fico discover 10/19/16 814 Fako 819 Creditkarma 11/16/16

gdale6 · ‎12-27-2014

@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

longtimelurker · ‎12-27-2014

@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)

jason86423 · ‎12-27-2014

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.

kdm31091 · ‎12-27-2014

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.

longtimelurker · ‎12-27-2014

@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.

BottomRanker · ‎12-27-2014

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.)

yfan · ‎12-27-2014

@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. :-)

Anonymous · ‎12-27-2014

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....