The Capital One Quicksilver and the Citi Double Cash both offer competitive rates of cash back, with no limits on the amount of rewards you can earn. And while Citi Double Cash offers more potential cash back on all purchases, the Capital One Quicksilver features a better intro offer.
Travel rewards credit cards have their devotees. But for many people, there’s no substitute for earning cash back. Those who enjoy the simplicity of a cash back credit card often prefer one that features a high rate of cash back on all purchases, without having to worry about which ones qualify for a bonus or what are the limits of the offer. The Capital One Quicksilver Cash Rewards Credit Card and the Citi® Double Cash Card both offer solid rates of cash back, with no limits on the amount of rewards you can earn.
Capital One Quicksilver vs. Citi Double Cash
Below is a table that highlights the main points of comparison between the Quicksilver and Double Cash cards:
|Rewards rate||1.5% cash back on all purchases, with no limits||2% cash back on all purchases, with no limits (earn 1% at time of purchase and the other 1% when you pay off that purchase)|
|Introductory bonus||$200 cash bonus once you spend $500 on purchases within 3 months of account opening||None|
|Purchase APR||14.99% to 24.99% variable APR, but introductory purchase APR of 0% for 15 months||13.99% to 23.99% variable APR|
|Estimated yearly rewards value (based on $1,325 monthly spend, or $15,900 annually, calculated including intro bonus)||$439||$318|
|Who should get this card?||Cardholders who’d prefer a sign-up bonus to a higher rate of cash back||Cardholders who don’t mind forgoing a welcome bonus to earn a consistent rate of cash back|
Earning cash back
Both the Capital One Quicksilver and the Citi Double Cash offer simple ways to earn cash back. With the Quicksilver, new cardholders can earn a $200 cash bonus after making just $500 in purchases within three months of account opening. You’ll also earn 1.5% cash back on all purchases, with no limits.The Citi Double Cash doesn’t include a new account bonus, but it offers up to 2% cash back on all general purchases, with no limit. When using your card, you earn 1% cash back at the time of purchase and another 1% when you pay for your purchases.
Redeeming cash back
Redeeming your rewards is simple for both cards. For the Capital One Quicksilver, you can request your cash back in the form of a statement credit, check or gift card. Other options include using the Capital One Purchase Eraser to apply your rewards directly to a purchase from within the last 90 days. Capital One also offers you the ability to redeem your cash back directly through PayPal or by shopping with Amazon.com. Unfortunately, the PayPal and Amazon.com options offer only 0.8 cents in value for every 1 cent earned as cash back.
With the Citi Double Cash, it’s just as easy to redeem your rewards. You can choose to receive your cash back as a statement credit, direct deposit or a check. You can also convert your cash back to rewards in Citi’s ThankYou Points program. When you do that, you also have the option to shop with points at PayPal and Amazon.com, as well as redeem your points for gift cards, travel reservations or merchandise with many nationally recognized brands.
And if you also hold another Citi card such as the Citi Premier® Card, you’ll have the option of transferring your points to miles with airline partners, which can offer even more value per point redeemed.
There’s no annual fee for either the Capital One Quicksilver or the Citi Double Cash.
Both the Capital One Quicksilver and the Citi Double Cash offer a range of cardholder benefits.
The Capital One Quicksilver offers an extended warranty policy that adds a year to the manufacturer’s warranty on eligible purchases. The Citi Double Cash doesn’t offer this benefit.
Travel accident insurance
The Capital One Quicksilver offers a travel accident insurance benefit that covers you if you are injured or killed on a common carrier, and you paid for the ticket with your card. The Citi Double Cash doesn’t offer this benefit.
The Capital One Quicksilver includes access to Capital One Experiences, which offers exclusive access to entertainment and culinary events. Likewise, Double Cash cardholders can access Citi Entertainment® to receive special access to purchase tickets for concerts, sporting events, dining experiences and more.
Capital One offers numerous security features including text, email and phone alerts when suspicious transactions are noticed on your account. You can also receive virtual card numbers to protect your account information. You can use Capital One’s mobile app to quickly lock your card if it’s misplaced, lost or stolen. And its CreditWise service lets you know if your TransUnion or Experian credit reports change.
The Citi Double Cash also offers you alerts if there’s unusual activity on your account and includes Identity Theft Solutions to help victims resolve many of the problems caused by this kind of crime. Additionally, Citi’s Lost Wallet service helps you replace your card and offers emergency cash subject to your available cash advance limit.
Foreign transaction fees
Like other Capital One cards, the Quicksilver doesn’t impose any fees on transactions processed outside of the United States. The Citi Double Cash has a 3% foreign transaction fee, which will negate all the value of the cash back you earn and result in a net cost of at least 1% of your purchases.
Capital One Quicksilver Cash Rewards card: Best for earning more cash now
The credit card industry is extremely competitive, and many customers have grown to expect the chance to earn a large new account bonus when they apply for a new card.
If this sounds like you, the Capital One Quicksilver will not disappoint. That’s because you can earn a $200 cash bonus after using your card to spend just $500 within three months of account opening. It’s easy for you to earn more cash back in your first year than you would with the Citi Double Cash. Additionally, the Capital One Quicksilver offers you its full cash back rate when you make your purchase, so there’s no waiting to pay off the purchase to get your full cash back potential.
Citi Double Cash card: Best for higher spenders who don’t mind waiting for a higher return
The Citi Double Cash doesn’t offer a new account bonus but it does feature a higher rate of cash back than the Quicksilver. But you’ll have to be a little more patient. It will take $40,000 of spending with a 2% return to equal the cash back you receive by earning the 1.5% cash back plus $200 new account bonus that the Quicksilver offers.
And it’s not only that. Citi Double Cash cardholders will also have to wait until they make their payments to earn the full 2% cash back that this card can offer, as you earn only 1% cash back at the time of purchase.
Both the Capital One Quicksilver and the Citi Double Cash are very strong cash back credit cards with no annual fee.
The main differences between the two are the presence of a welcome bonus with Quicksilver and the additional 0.5% cash back that you can earn from the Double Cash.
Other differences include the Quicksilver’s stronger benefits and the lack of foreign transaction fees. By examining the strengths and weaknesses of the two cards, you can choose the one that’s better for your needs.