Capital One Quicksilver & Savor: And the Winner Is...
Capital One is a prominent credit card issuer with several options to suit a variety of spenders. Today, we're gonna to take a closer look at two popular cards: the Capital One Quicksilver Rewards card and the Quicksilver Savor card. To the untrained eye, it could be hard to see which credit card is better. After all, both come with great Capital One benefits like travel accident insurance, extended warranty, and no foreign transaction fees. Both also offer a nice signup bonus and 0% APR promotion.
For the more skilled credit card aficionado though, each card is unique and holds particular benefits for different types of spenders. Here’s a more in-depth analysis of each Capital One card and where they really shine.
Capital One Cards At a Glance
|Capital One Quicksilver Rewards||Capital One Savor|
|Signup Bonus||$150 when you spend $500 in first three months||$150 when you spend $500 in first three months|
|Rewards Program||1.5x cashback on all purchases, unlimited||3x cashback on restaurants purchases 2x cashback on grocery store purchases 1x on all other purchases|
Capital One QuickSilver Rewards Card
- Unlimited 1.5% cashback rewards
- $150 signup bonus when you spend $500 in three months
- $0 annual fee
- No foreign transaction fee
- 0% APR for 15 months on balance transfers and new purchases
- Not the highest earn rate for eating out and groceries
- Spenders who hate keeping track of rewards points categories
- Folks looking to save a bundle on interest payments for new purchases or transfers
The Capital One Quicksilver Rewards card has a lot to say for itself. It charges no annual fee whatsoever, which is a great way to attract attention and then follows up with an excellent introductory APR offer. You’ll get 0% APR for the first 15 months with this card on all new purchases and balance transfers. That means you can transfer a balance from a credit card with a high-interest rate over to your Quicksilver Rewards card and pay no interest for 15 months. This is also helpful if you are planning to make a big purchase and want to save significantly on interest payments.
Note: You'll be charged 3% on the initial balance transfer as a balance transfer fee. This is a normal fee to charge. What's unusual (and happily so) is that after the introductory offer, Capital One charges no balance transfer fee. So, if you end up making a transfer after the first 15 months, you won’t have to pay that fee at all.
The Quicksilver Rewards card also charges no foreign transaction fee, a huge benefit for travelers. But where this card really shines is its rewards program. With the Quicksilver Rewards card, you’ll earn 1.5% cashback on all purchases. While this isn’t as much as you’ll get with the Savor card (I’ll tell you more about that in a minute), it holds a unique appeal in that it is a flat rate rewards program. If you absolutely hate the idea of having to keep track of categories or don't want to be bothered thinking about them while standing in line to check out before you pull out your card, then a flat rate rewards program is your best option. It means you’ll earn a consistent rate of 1.5% on all purchases all the time without the headache of tracking your purchases. For a lot of people saving your headspace is worth the lower rate. Here’s a practical example of how much you earn when using the Capital One Quicksilver Rewards card:
- If you spend $1,000 per month, you’ll earn $15 cashback ($1000 x 1.5%) – it’s not a ton of money, but if you’re spending anyways, why not get something back?!
Capital One Savor Card
- Excellent 3,2,1 rewards program
- 0% introductory APR offer
- $150 signup bonus
- Brand new card, so terms may change soon
- People who eat out often
- Anyone who wants to earn big rewards for regular weekly grocery shopping
- Cardholders who don’t want the hassle of travel cards but want the dining rewards
The Capital One Savor card is brand spanking new, as in it came out this month. It’s aptly named because the card’s benefits specifically revolve around one of humanity’s most enjoyable experiences: food. The fact that the eye-catching copper color of the card was chosen intentionally to recreate the feeling of copper pots and cookware just appeals to foodies even more.
Aside from the well-played name game and design excellence, the Capital One Savor card actually serves up a delectable smorgasbord of benefits as well. To begin with, Capital One is offering a limited time only signup bonus of $150 when you spend $500 or more on the Savor card within the first three months. This isn’t a staggering sum, but it compares to the welcome bonuses you might find with $100-annual fee credit cards. Oh, did I forget to mention this card charges no annual fees at all? So, you get the signup bonus sans any yearly commitment. Good stuff.
Moving along the buffet table, cardholders will delight in the tasteful rewards program Capital One Savor card offers. You'll get unlimited 3% cashback on all dining experiences, and this category is exhaustive. It includes restaurants, obviously, but it also branches out to lesser qualifying eateries such as food trucks, cafes, coffee shops (your daily Starbucks latte), and bakeries. In fact, if the business categorizes itself as an eating establishment, it’ll earn you 3% cashback with Savor. For anyone who eats out frequently, this is a tremendous rewards program.
Even if you eat in, you can earn nicely using the Capital One Savor card. You’ll get 2% cashback on all grocery shopping, so your weekly shopping trips can start paying you back. Now, there are other cards that’ll give you more for your weekly shopping, like the Blue Cash Everyday card from American Express, but Savor offers a lot of other benefits, it’s not just limited to a single exciting category. You’ll earn 1% cashback on all other purchases with this card, too!
Oh goody, more math. Here’s a practical example of how much you earn when using the Capital One Savor card:
|Dining Out||Groceries||Other Purchases|
|$500 Monthly Spending||$15||$10||$5|
|$200 Monthly Spending||$6||$4||$2|
Of course, you’re spending isn’t always so uniform. You might spend more on eating out one month and less on groceries. Or you might consistently spend more on groceries each month. Whatever your spending habits, you can use the 3,2,1 rule to calculate your earnings.
One last benefit that many consumers will appreciate is the introductory APR offer the Capital One Savor card provides. Get 0% APR on all balance transfers and new purchases for the first 15 months. Despite the fact that you’ll pay a 3% balance transfer fee, it’s still a great offer.
Those are tremendous benefits that you will be hard-pressed to find combined in any other card. For example, you can get amazing 0% APR introductory offers from cards like the Chase Freedom Unlimited and Citi ThankYou Preferred card, but the former has a lousy 1.5% cashback program, and the latter doesn't have any signup bonus. Or, you can find excellent signup bonuses from the Chase Sapphire Preferred card (50,000 bonus points) or Citi ThankYou Premier cards, but you'll be dealing with travel cards, so your points are tied to travel-related expenses and redemptions. Basically, the Capital One Savor card is one of the best, most well-rounded cards to hit the market, and consumers are excited to give it a try.
Savor or Quicksilver Rewards: Which is My Capital One Card?
To sum things up, the Capital One Rewards card offers users a 0% APR introductory rate for 15 months, uncomplicated, no categories rewards program, and no foreign transaction fees. Alternatively, the Capital One Savor card is the best option if you like eating out a lot or if you want to get a good solid return on shopping at the grocery store. Of course, since they’re both $0 fee cards, why not just get both and use the right one for the right purchases to really maximize your earnings?!
It’s up to you to decide what perks will give you the most bang for your buck, so, which one (s) is your Capital One card?