While rewards credit cards tend to come and go, two cash-back credit cards that remain popular are the Capital One Quicksilver Rewards Credit Card* and the Citi® Double Cash Card. Both offer flat-rate rewards, no annual fees and introductory APR offers.
Even though the Double Cash offers a higher rewards rate of 2% back on all spending (1% when you buy and 1% when you pay for those purchases), right now the Capital One Quicksilver is the better offer -- but only if you can take advantage of its welcome bonus, card perks or 0% introductory APR offer on purchases. Otherwise, the Double Cash’s higher flat rewards rate might serve you better.
Comparing annual fees
Winner: Tie
- $0
- $0
Neither the Capital One Quicksilver nor the Double Cash card charge an annual fee. This makes both a good option if you don’t spend enough to offset a fee with rewards, or if you don’t want to take on another yearly cost.
Welcome offer
Winner: Capital One Quicksilver Rewards
- Earn a one-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening
- none
The Capital One Quicksilver Rewards wins in this category since it’s the only card with a welcome offer. With the Capital One Quicksilver Rewards, new cardmembers can earn a $200 cash bonus after spending $500 on purchases within three months of opening an account.
For some perspective, you’d have to spend $10,000 with the Double Cash to earn $200 (10,000 x .02). The Quicksilver provides a significant head start on reward earnings, if you can reach the spending threshold. And while the Double Cash doesn’t include a welcome bonus at the moment, it has in the past.
Rewards and redemption
Winner: Citi Double Cash
- Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you’ll get Capital One’s best prices on thousands of trip options. Terms apply
- Earn unlimited 1.5% cash back on every purchase, every day
- Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
The Double Cash has a higher cash-back rate than the Quicksilver, making it the clear winner.
However, since the Quicksilver does have a welcome bonus, it can come out ahead. If you can reach the bonus, the Quicksilver will give you more rewards for the first year, depending on your spending. But eventually, the rewards earned by the Double Cash will surpass the Quicksilver.
Most people should be able to hit the Quicksilver’s welcome bonus, but if you don’t, the Double Cash would then also be more rewarding during the first 12 months with the card. And if you spend over $40,000 a year on your credit card, the Double Cash will pull ahead in rewards, even with the Quicksilver’s welcome bonus.
When it comes to redemptions, these two credit cards essentially tie. Both let you redeem for direct deposits, statement credits and gift cards, while the Double Cash lets you redeem rewards for Amazon purchases, the Quicksilver lets you use rewards with Amazon and PayPal.
Introductory APR
Winner: Capital One Quicksilver Rewards
- 0% introductory APR on purchases for 15 months and on balance transfers alike (19.99% to 29.99% variable APR thereafter)
- 0% introductory APR on balance transfers for 18 months (19.24% to 29.24% variable APR thereafter)
The Capital One Quicksilver Rewards comes with an introductory 0% APR on purchases and balance transfers for 15 months (then 19.99% to 29.99% variable). The Double Cash has a longer introductory APR offer, but it only applies to balance transfers.
While a 0% APR on balance transfers can make sense in certain situations, it’s never a good idea to consolidate debt on a credit card while continuing to use it for new purchases. If you add purchases to a credit card you’ve transferred a balance to, it’ll take longer for you to get out of credit card debt.
Having an introductory APR for purchases is more useful on a rewards credit card than a balance transfer offer. Considering the Quicksilver has both, it stands out in this category.
Card perks
Winner: Capital One Quicksilver Rewards
- No foreign transaction fees
- Capital One Dining access
- Capital One Entertainment access
- Six months of complimentary Uber one membership (valid through November 14, 2024)
- Extended warranty coverage
- Travel accident insurance**
- 24-hour travel assistance services
- Complimentary concierge service
- Citi Entertainment
Neither of these credit cards have as many benefits as more robust rewards cards, but the Capital One Quicksilver has more to offer.
The bottom line
While the Capital One Quicksilver Rewards and the Citi® Double Cash Card have similar rewards and no annual fees, the Capital One Quicksilver Rewards comes out as the winner. It has a lower rewards rate, but could be more rewarding and useful if you can earn the welcome bonus or use its additional card perks.
The Double Cash does have better flat rate rewards and a longer balance transfer offer, but there are better balance transfer credit cards out there.
FAQs
Extended warranty protection extends a manufacturer’s warranty by up to two years, depending on the coverage. You’ll have to pay for the item with an eligible credit card for coverage to apply.
The Double Cash charges 3% in foreign transaction fees when you use it for purchases abroad. The Quicksilver does not charge foreign transaction fees.
*All information about the Capital One Quicksilver Cash Rewards card has been collected independently by CNET and has not been reviewed by the issuer.
**For Capital One products listed on this page, some of the above benefits are provided by Visa®️ or Mastercard®️ and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply
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