Capital One Quicksilver and Discover it Cash Back – CreditCards.com

If you’re looking for a cashback credit card that can be used daily to earn rewards on regular purchases, the Capital One Quicksilver Cash Rewards and Discover it® Cash Back credit card is the one for you. While they both make money, the rate at which you will be rewarded varies greatly between the two.

Quicksilver from Capital One is a fixed rate cashback card that gives you an unlimited cashback of 1.5% on every purchase. Discover Cash Back has rotating 5 percent bonus categories such as groceries, gas and restaurants. And since none of these cards have an annual fee, you can do well with any of them as long as you pay off the balance monthly to avoid accruing interest. To determine which offer is right for you, we need to take a deeper look into the reward structure and features of the additional cards.

Card details

Map	Capital One Quicksilver Cash Rewards Credit Card	Discover cashback
Interest rate	Unlimited 1.5% cashback on every purchase Unlimited 5% cashback on hotels and car rentals booked through Capital One Travel	5% cashback on rotating quarterly bonus categories (on purchases up to $1,500 each quarter after activation, then 1%) 1% cashback on all other purchases
Bonus for registration	$200 if you spend $500 in the first 3 months	Cashback Match™ (all cash earned at the end of the first year is balanced out)
Annual fee	$0	$0
Introductory year (balance transfers and new purchases)	0% initial APR for 15 months on purchases and balance transfers, then 19.24% – 29.24% variable APR	0% initial APR for 15 months on purchases and balance transfers, then 16.24% – 27.24% variable APR.

Capital One Quicksilver and Discover it Cash Back

Welcome offer

Capital One Quicksilver cash rewards	Discover cashback
$200 bonus if you spend $500 within 3 months of opening an account.	Cashback Match™ (all cash earned at the end of the first year is dollar for dollar)

Winner: Discover Cash Back

As a welcome bonus, Discover it cashback will match all the cashback you earned at the end of the first year of the issuer’s Cashback Match program. So, for example, if you earn a total of $100 in cashback at the end of the first year, Discover will give you an additional $100 in cashback for a total of $200 in rewards. Since there are no limits on the rewards you can earn (apart from the $1,500 quarterly spending limit) and receive the corresponding reward, the Discover card is the clear winner here.

However, if you’re looking for a simple, predictable welcome bonus – or if you don’t think you’ll be earning at least $100 in cash by the end of your first year – the Quicksilver card is your card.

Interest rate

Capital One Quicksilver cash rewards	Discover cashback
Unlimited 1.5% cashback on every purchase Unlimited 5% cashback on hotels and car rentals booked through Capital One Travel	5% cashback after activation in rotating categories every quarter (on purchases up to $1,500, then 1%) 1% back on all other purchases

Winner: Discover Cash Back

Discover it Cash Back is a cashback card with a rotating bonus tier, which means you can earn 5% cashback on purchases in rotating tiers that change every quarter (when activated) and then 1%. For all other purchases, you will also receive 1 percent cashback.

The bonus categories featured on the Discover cashback calendar tend to cover popular categories such as groceries, gas stations, restaurants, and online retailers such as Amazon.com, Target.com, and Walmart. For example, from January to March 2023, you can get 5 percent cashback at grocery stores, pharmacies, and some streaming services. The bottom line is that you only have one quarter to maximize your purchases in a certain category, and the next quarter completely different categories will give you a higher cashback rate.

If you prefer a no-fuss cash return, the Quicksilver Card is the perfect option. While you’ll only earn 1.5 percent of all purchases, your earnings are unlimited and there are no categories to activate or track. Also, if you can easily spend a decent amount of money on hotels and car rentals when booking through Capital One Travel, you can earn more than you expected with Quicksilver.

April Opening Offer

Capital One Quicksilver cash rewards	Discover cashback
0% initial APR for 15 months on purchases and balance transfers, then 19.24% – 29.24% variable APR 3% balance transfer fee within 15 months after account opening	0% initial APR for 15 months on purchases and balance transfers, then 16.24% – 27.24% variable APR. Initial balance transfer fee 3% (then 5% after the first 60 days)

Winner: Discover It Cash Back

Both cards offer 0 percent APR on balance transfers and purchases for 15 months upon account opening. The 15-month start period for balance transfer cards is standard for balance transfer cards; some of the best balance transfer cards offer much longer lead times.

These cards also have the same initial balance transfer fee of 3 percent, although Quicksilver’s initial balance transfer fee runs for the entire initial period of 15 months, compared to the Discover it Cash Back card’s initial transfer fee which lasts only 60 days. . However, Discover it Cash Back has a slight advantage due to its lower APR variable, which is noticeably lower than average credit card APR rates right now. This APR can make a huge difference to cardholders who can’t pay off their entire balance before the end of the introductory period but still want to pay off their debt as quickly as possible.

What card should you get?

For everyday spending, Capital One Quicksilver is a great choice with unlimited 1.5% cash back on every purchase. Meanwhile, Discover it Cash Back earns a 5 percent cashback on quarterly bonus categories. Both cards have welcome offers and introductory periods with 0% APR on transfers and balance purchases.

• If you want to get constant value from your card: With 1.5 percent unlimited cash back, Capital One Quicksilver is perfect for everyday spending and you don’t have to worry about signing up for bonus categories or wondering if this purchase will earn you 5 or 1 percent cash back.
• If you love to travelA: The Capital One Quicksilver Card gives you unlimited 5 percent cash back on hotels and car rentals booked through the issuer’s travel portal. Hotels and flights tend to be the most expensive aspects of any trip, so a 5% cashback will get you more than you think. Plus, any other travel expenses you have will also get you 1.5 percent back in cash.
• If you want a great welcome offer: The Discover it Cash Back program provides unlimited dollar cash back at the end of the first year. If you manage to maximize the Discover card’s rotating categories every quarter, you’ll receive up to $300 in cash at the end of the first year. Once Discover matches that number, you will receive a $600 reward.
• If you want to get the maximum cashback: With a little extra effort, Discover it cashback can earn you a lot more than Quicksilver if you spent the same amount of money. In fact, according to CreditCards.com, spending $15,900 (approximate annual cost for the average cardholder) will net you $250 in the first year for Quicksilver, while the Discover it Cash Back card will net you $399.

bottom line

These cards are two of the best cashback credit cards that offer many perks and benefits beyond the rewards. The best option for you will depend on your spending habits and how much effort you want to put into optimizing your cash back.

For the “set it and forget it” crowd, Capital One Quicksilver will bring in a decent amount of cash back thanks to its flat-rate structure. Those who are fully committed to tracking bonus categories can earn more rewards with Discover it cashback in their first year of card ownership and beyond.