The Chase Freedom Unlimited® and Capital One Quicksilver Cash Rewards credit cards may seem similar because they have high reward rates regardless of the credit card category and $0 annual fee. But dig deeper and you'll find that there are quite a few differences between these two cashback credit cards. Perhaps that could be a reason to choose one over the other.
If you had to pick just one, we tend to suggest Chase Freedom Unlimited because of the added rewards categories, flexibility of the Chase Ultimate Rewards program, and additional insurance protection. I have. However, you may find reasons to choose the Capital One Quicksilver Cash Rewards credit card instead.
Read on to learn more about the main benefits of these two rewards credit cards and how they compare.
Contents
Main details
| Unlimited Tracking Freedom | Capital One Quicksilver Cash Rewards Credit Card | |
|---|---|---|
| Welcome Bonus | For the first year, you can earn an additional 1.5% cash back on top of the original cash back rate on all purchases (up to $20,000). Exclusive offer by Bankrate) | $200 cash bonus months when you spend $500 in the first 3 years |
| Reward rate |
|
|
| First Year APR | 0% first year APR for purchases and balance transfers for 15 months. Then 18.74% to 27.49% fluctuating APR | 0% introductory APR for purchases and balance transfers for 15 months. Then 17.99% to 27.99% variable APR |
| Annual fee | $0 | $0 |
Chase Freedom Unlimited vs Capital One Quicksilver Highlights
Let's take a closer look at the main highlights of Chase Freedom Unlimited and Capital One Quicksilver to decide which one works best for your wallet.
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Welcome Bonus Winner: Chase Freedom Unlimited
Quicksilver offers an easily attainable $200 cashback bonus after spending $500 in the first three months, while Chase Freedom Unlimited The welcome offer applies for the entire first year and may offer more value.
With Freedom Unlimited, you can earn an extra cashback of 1.5% on top of the original rewards rate of your purchase, up to $20,000 in your first year of spending (Bankrate exclusive offer). That means he can cap $20,000 in first year spending and get up to $300 in cash back. For example, if you pay your rent monthly with a credit card, using up this offer may be easier than you think.
Reward Rate Winner: Chase Freedom Unlimited
Both cards offer the same 1.5% back for every dollar spent. Chase Freedom Unlimited's myriad of additional reward categories make it a clear winner in terms of potential reward rates. It also doesn't include the ability to pair with other Chase credit cards.
For example, if you want to redeem your rewards for travel, pair Chase Freedom Unlimited with your Chase Sapphire Preferred® card or Chase Sapphire Reserve® and pool your rewards in your Sapphire account to unlock redemption options and redeem your points. Increase by 25. Travel percent or 50 percent respectively.
Once you pool points in a Premier Chase card account, such as Sapphire Preferred or Reserve, you can also transfer points 1:1 to Chase's airline and hotel partners. This allows you to make your perks even more valuable. Sapphire card points are worth up to 2 cents per card for travel on transfer partners, according to Bankrate. Earn multiple Chase cards in a short period of time.
Annual Fee Winner: Ties
When it comes to significant credit card fees, this comparison ends in a tie. Neither card has an annual fee, so both cards are good for people who want to skip paying annual fees.
No annual fee credit cards are especially useful for people who don't spend a lot on plastic, but
Intro APR Winner: Tie
Both credit cards offer a 15-month , offering 0% first-year APR for purchases and balance transfers. After 15 months, the variable APRs are still very similar. 18.74% to 27.49% for Freedom Unlimited and 17.99% to 27.99% for Quiksilver.
However, it will be the balance of the remittance fee. Quicksilver charges a fairly standard 3% fee on transferred balances, while Freedom Unlimited charges an introductory 3% fee on balances transferred within the first 60 days ( We charge a minimum of $5). If you wait 60 days to transfer your balance, the fee jumps to 5% (minimum $5).
Foreign Transaction Fee Winner: Capital One Quicksilver
On your next international trip, we recommend taking the Capital One Quiksilver instead of the Chase Freedom Unlimited. Capital One Quicksilver charges no foreign transaction fees, while Chase Freedom Unlimited charges his 3% commission on each purchase outside the US.
Which card pays the most?
It's easy to see that Chase Freedom Unlimited is slightly better than Capital One Quicksilver. But how do the earnings on these cards compare?
Sample Spending for Chase Freedom Unlimited and Capital One Quicksilver
Either card spends the next in a month Suppose you spend an amount of:
- $500 on hotel trips booked through the card portal
- $200 on meals
- $150 on everything else
With Chase Freedom Unlimited, hotel You get $25 cash back on travel purchases, $6 cash back on meals, and $2.25 cash back on all purchases outside the Other category, for a total of $33.25 cash back each month. Repeat this spending for a year and you'll get $399 in cash back.
On the other hand, with Capital One Quicksilver, you can get $25 cash back on hotel purchases and $3 cash back on hotel purchases. At $2.25 on food and everything else, my total monthly income is $30.25. Get $363 cash back annually.
Of course, this example doesn't highlight the extra rewards you get from paying at drugstores or Lyft. This means that Chase Freedom, where you already have more rewards, could have even more rewards for you.
Why should I get Chase Freedom Unlimited?
Chase Freedom Unlimited is a generous first-year welcome offer with 1.5% cashback on non-category purchases, plus great earning potential is valuable to many everyday consumers because it provides However, there are several other reasons to choose this card.
Additional Benefits
With Chase Freedom Unlimited, you get purchase protection that covers your new items from damage or theft. It also includes extended warranty protection that adds an extra year to many US manufacturer warranties. You also get trip cancellation and trip interruption insurance, car rental insurance and roadside assistance.
As for the partner offer, DashPass is free for 3 months. This is a subscription service that offers free shipping on DoorDash orders over $12 (if activated by December 31, 2024). There's also a free 3-month Instacart+ membership that offers free and unlimited shipping and discounted service charges on eligible orders. Register by July 31, 2024.
For a complete list of all the features the card offers, consider reading Bankrate's Chase Freedom Unlimited benefits guide.
Redemption Options
Rewards earned with Chase Freedom Unlimited can be redeemed in the following ways:
- In the form of statement credits or direct deposits. Cash at
- Travel booked through Chase Ultimate Rewards
- Gift cards
- Shop with Rewards on Amazon.com
Recommended Credit Score
A good to excellent credit score of 670 or higher is recommended.
Why Get Capital One Quicksilver?
This Capital One Quicksilver appeals to much of the same audience as Chase Freedom Unlimited with no annual fee and the same flat reward rate as the achievable welcome bonus. To do. However, there are several reasons why Quicksilver is worth more than Freedom Unlimited.
Other Benefits
In addition to the fact that you don't have to pay foreign transaction fees on your overseas purchases, Capital One Quicksilver offers a wide range of travel benefits on top of its standard no annual fee card, including travel accident insurance, trip cancellation and interruption insurance, and baggage. Offers.
And for eligible purchases made with your credit card, you'll also enjoy complimentary Extended Warranty protection, a price protection tool that guarantees the best deal and purchase protection. in case of damage or theft.
Additionally, Capital One recently announced that Quicksilver cardholders will receive his Uber One membership (formerly Uber Eats Pass) free for up to 6 months until November 14, 2024. announced. This benefit can potentially save you about $59 in membership fees.
For more information on what the card offers, read Bankrate's Capital One Quicksilver Card Benefits Guide.
Redemption Options
Capital One Quicksilver benefits are available in several ways:
- Cashback in the form of statement credits or checks
- Rewards for recent purchases
- Move through Capital One's portal
- Pay rewards with Amazon.com or PayPal
- Gifts Cards
Recommended Credit Score
If you have a good to excellent credit rating, you may qualify for Capital One Quicksilver (
Conclusion
Both the Chase Freedom Unlimited and Capital One Quicksilver Cash Rewards credit cards are great for those looking to earn at least 1.5% cash back.
Chase Freedom Unlimited has an edge with the possibility of additional rewards categories, better welcome bonus offers, and more flexible redemption options, but it's up to you which card you choose.
Of course, consider reading Bankrate's list of the best cashback credit cards before you choose and apply.