Cap One Quicksilver vs Chase Freedom

[Anonymous]

I am getting a little nervous about Citi DC with all their changes, and especially now with their "Thank You" points 'option,' allowing you to convert cash back dollars to "Thank You" points. It makes me feel that the 2% cash back on this card will either be changed or replaced altogether into "Thank You" points, which could not interest me less.

I am NOT interested in new cards. I have been using Citi DC as my daily driver, along withh AMEX BCP. I have a Chase Freedom and a Cap One Savor.

I do NOT have another Chase  card (and don't want to get one) and do NOT travel outside U.S.

Which would be a better option - convert Freedom ($56500) into FU for 1.5% or convert Savor ($32000) back to Quicksilver for the 1.5%?

Or does it matter? Chase is my second oldest card. I do NOT use Freedom categories or Savor categories. Chase is Visa and Cap One is Mastercard.

Of course, Citi's 2% may NOT go away, but I think that is where it is heading. 

[Anonymous]

Couldn't you get a Quicksilver in addition to the Savor? Seems the simplest solution from my vantage point

[longtimelurker]

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@Anonymous wrote:

I am getting a little nervous about Citi DC with all their changes, and especially now with their "Thank You" points 'option,' allowing you to convert cash back dollars to "Thank You" points. It makes me feel that the 2% cash back on this card will either be changed or replaced altogether into "Thank You" points, which could not interest me less.

I am NOT interested in new cards. I have been using Citi DC as my daily driver, along withh AMEX BCP. I have a Chase Freedom and a Cap One Savor.

I do NOT have another Chase  card (and don't want to get one) and do NOT travel outside U.S.

Which would be a better option - convert Freedom ($56500) into FU for 1.5% or convert Savor ($32000) back to Quicksilver for the 1.5%?

Or does it matter? Chase is my second oldest card. I do NOT use Freedom categories or Savor categories. Chase is Visa and Cap One is Mastercard.

Of course, Citi's 2% may NOT go away, but I think that is where it is heading. 

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If you really never use Freedom or Savor categories, it probably doesn't matter!   Going to CFU gives some additional flexibility in future (if you ever want to use them as URs) but you make that sound very unlikely

But I don't think the core 2% feature of the DC is going away.   They have removed other benefits, but you can view the adding the ability to transfer to TYP as a new benefit that mitigates the other actions (or not!)

[longtimelurker]

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@Anonymous wrote:

Couldn't you get a Quicksilver in addition to the Savor? Seems the simplest solution from my vantage point

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OP said no new cards.   And if new cards were possible, IMO it would make much more sense to get a 2% card to replace DC rather than a 1.5%

[kdm31091]

I wouldn't rush to any decision personally. The feature hasn't even rolled out yet, nor does anyone know what the transfer ratio will be.

Is it possible (and this is totally speculation) the Double Cash would eventually morph into a TYP card? Sure, because most people redeem for low value things, so this would be cheaper for Citi than a straight 2% cash. But I don't think that's a foregone conclusion at all. At this time I think it's merely an additional way to redeem your cash (and probably at a poor ratio), and otherwise the card will be unchanged. This is just an optional feature, not the only feature.

I don't think converting to an FU or converting your Savor to QS makes sense because there's no reason to use the 1.5% when you can get 2%.  I would just leave it alone until the details are more solid, but again, I think this is just an added feature and not a forced change.

[Anonymous]

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@Anonymous wrote:

Which would be a better option - convert Freedom ($56500) into FU for 1.5% or convert Savor ($32000) back to Quicksilver for the 1.5%?

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You're already covered for both groceries and gas at a rate higher than either would offer (BCP). I think what I would look at after that is whether it is worth losing 4% on dining to get an extra 0.5% on unrelated purchases....you would be getting rid of an AF though, but if that were the goal, going to Savor One would probably be the better choice if dining is a worthwhile category.

I dunno. I think if I were dead set between converting one of the two, it would be the chase card since you don't use categories.