Neither the Capital One Quicksilver Cash Rewards Credit Card nor the Bank of America® Unlimited Cash Rewards Credit Card have an annual fee and offer 1.5% cash back on all purchases. But Capital One Quicksilver Cash Rewards is a mainstay in the flat-rate cash-back card space, and Bank of America Unlimited Cash debuts in July 2021. Which card is right for you?
If you’re a Bank of America Preferred Rewards member, you may find Bank of America Unlimited Cash more valuable. On the other hand, if you’re looking for a simple card with a high cash back rate without breaking the bank, the Capital One Quicksilver card might make more sense for you.
Main Details
| Capital One Quicksilver Cash Rewards Credit Card | Bank of America Unlimited Cash Rewards credit card | |
|---|---|---|
| 欢迎奖金 | $200 cash bonus if you spend $500 on purchases within the first 3 months | $200 online bonus cash rewards if you spend $1,000 on purchases within the first 90 days |
| 奖励率 | 1.5 percent cash back on all purchases | 1.5 percent cash back on all purchases |
| Intro APR | 0% APR on purchases and balance transfers for the first 15 months (15.24% to 25.24% variable APR thereafter) | 0% APR on purchases and balance transfers for 15 billing cycles (14.24% to 24.24% variable APR thereafter). A 3% fee (min. $10) applies on balance transfers made within the first 60 days |
| 年费 | $0 | $0 |
Capital One Quicksilver vs Bank of America Unlimited Cash Highlights
Both cash back cards have no annual fee, unlimited cash back on all purchases and similar introductory APR benefits, but they differ when it comes to welcome bonuses.
Welcome Bonus Winner: Capital One Quicksilver Cash Reward
Both cards offer a $200 welcome bonus, but with Capital One Quicksilver, you only need to spend $500 in the first three months to get the bonus. The $500 spending threshold is easy to reach, and it’s one of the lowest spending limits you’ll find anywhere. By comparison, Bank of America Unlimited Cash requires you to buy $1,000 within 90 days.
It’s also worth noting that the $200 welcome bonus is comparable to other cash rewards cards with no annual fee.
Annual Fee Winner: Tie
Like many cashback cards, the Capital One Quicksilver Card and Bank of America Unlimited Cash Card have no annual fee. Both cards are ideal if you want to prevent annual fees from hurting your premium income.
Introduction APR Winner: Bank of America Unlimited Cash
Both the Capital One Quicksilver Card and the Bank of America Unlimited Cash Card offer an introductory APR for purchases and balance transfers for 15 billing cycles. However, after the introductory APR offer ends, the Bank of America Unlimited Cash Card offers cardholders a lower variable APR of 14.24% to 24.24%.
Additionally, there is a 3% transfer fee for credit card transfers to both cards. For the Bank of America Unlimited Cash Card, this 3% fee (minimum $10) applies to fund transfers made within the first 60 days of card membership. When checking the numbers to see if the transfer balance makes sense, remember to calculate the fee to transfer the balance and add it to the total debt you’re paying.
哪张卡最赚钱？
If you’re looking for unlimited 1.5% cash back on all your purchases, Capital One Quicksilver and Bank of America Unlimited Cash have you covered. Both cards are useful if your purchases often don’t fall into the usual card reward categories, eg. B. Bill payment or certain online retail purchases.
If you’re already using rotating category cards to optimize cashback for specific reward categories, one of these flat-rate cards would be a great addition. Both give you 1.5% back on out-of-category purchases instead of the baseline 1% that’s usually given to other cards on general purchases.
So, which card pays the most? Individual cards are bundled. There’s one notable difference, though: Bank of America customers who participate in the Bank of America Preferred Rewards program receive bonuses ranging from 25% to 75% in addition to the 1.5% cash back rate they receive from Bank of America Unlimited Cash.
Preferred Rewards program tiers are based on a three-month average balance in your Bank of America and Merrill accounts. For Bank of America Unlimited Cash, here are the new cash back rates you earn for each bonus tier:
| Gold | Platinum | Platinum Honors | |
|---|---|---|---|
| Minimum balance | $20,000 | $50,000 | $100,000 |
| Rewards bonus | 25% | 50% | 75% |
| New cash back rate | 1.87% | 2.25% | 2.62%
|
As the tiered bonus structure shows, if you’re a Preferred Rewards member with $50,000 or more in all accounts, the Bank of America Unlimited Cash Card’s 2.25% cash back rate is better than nearly any flat-rate card’s Offers, usually the highest interest rate is 2% back on normal purchases.
Example of Capital One Quicksilver and Bank of America Unlimited Cash Spend
Both the Capital One Quicksilver Cash Rewards and Bank of America Unlimited Cash Rewards cards offer a flat 1.5% cash back on all purchases. For example, both cards will earn you $1.50 or $15 (each) in cash back whether you spend $100 or $1,000 a month.
But as shown above, if you’re a member of Bank of America Preferred Rewards, you can significantly increase your cash back rewards with Bank of America Unlimited Cash.
Let’s say you purchased $2,000 in a billing cycle. With a 1.5% cash back rate, you can get $30 in unlimited cash back with Capital One Quicksilver or Bank of America.
However, if you’re a Bank of America Preferred Rewards member, you can continue to earn $2,000 in rewards on Bank of American Unlimited Cash purchases. For each level, you get a total of:
- Gold (up 25%): $37.40
- Platinum (50% boost): $45
- Platinum Honors (75% boost): $52.40
Why should you get Capital One Quicksilver cash rewards?
Capital One Quicksilver Cash Rewards includes 1.5% cash back on every purchase and an easy-to-claim sign-up bonus. If simplicity is what you’re after, Capital One Quicksilver is a great option, as you don’t need to plan your spending by rotating quarterly categories or tracking quarterly category submissions.
额外福利
Despite its simple appearance, the Capital One Quicksilver Card offers a range of travel and shopping perks and protections. You’ll get exclusive travel and entertainment options, such as B. Advance tickets through Capital One Access, as well as 24-hour travel and roadside assistance and concierge services.
The card also has no international transaction fees and provides access to the Eno Assistant app, which uses a virtual credit card number to protect your card details when shopping online.
In addition, the Capital One Quicksilver card can be a Visa or Mastercard, so you can also receive standard benefits associated with both payment networks, such as: B. Additional purchase protection, travel benefits or discounts on shopping. You can find a detailed list of features in the benefits guide when you receive your card.
赎回选项
In your Capital One account, you will see your reward balance and various redemption options. You can redeem your cash back for statement credit, mailed checks, or gift cards. Additionally, the Capital One Quicksilver Cash Rewards Card has no minimum redemption amount.
推荐信用等级
You must have good credit to qualify for the Capital One Quicksilver Cash Rewards Card. Typically, this means you need a FICO credit score of 670 or higher.
Why should you get Bank of America Unlimited Cash Rewards?
As a Preferred Rewards member, the additional rewards you can earn make Bank of America Unlimited Cash Rewards even more value for money. Here are some additional benefits and reasons why you should consider using the Bank of America Unlimited Cash Card.
额外福利
Bank of America cards generally don’t have as many benefits as other cards, but you do get the usual Visa card features. Visa benefits vary depending on your tier, but benefits generally revolve around purchases and travel protection. Bank of America Unlimited Cash is a Visa signature card that includes benefits like 24/7 roadside assistance, travel and emergency assistance, credit monitoring, purchase security, and an extended warranty.
Also, you can visit BankAmeriDeals and museums through us. For a limited time, BankAmeriDeals is giving you an additional 5% to 15% cash back at participating retailers. At our museums, cardholders have free admission to over 225 museums and cultural venues on the first weekend of each month by simply showing their card and photo ID.
赎回选项
With Bank of America Unlimited Cash, you can exchange earnings for a credit to a credit card, a credit to a qualifying Merrill Lynch investment account, or direct deposit to a Bank of America checking or savings account.
If you choose to deposit directly into a Bank of America checking or savings account or credit a Merrill Lynch 529 account, you must have at least $25 in cash back to redeem.
推荐信用等级
You must have good credit to qualify for the Bank of America Unlimited Cash Rewards Card. Therefore, your FICO score should be at least 670.
最后结果
The Capital One Quicksilver Card and Bank of America Unlimited Cash Rewards Card offer easy ways to earn 1.5% cash back on every purchase, along with standard welcome bonuses and introductory APR offers. If you’re a Bank of America Preferred Rewards member or plan to become a member, you’ll enjoy the highest cash back rewards rates available today.
For most consumers, however, Capital One Quicksilver Cash Rewards and Bank of America Unlimited Cash Rewards don’t offer much that you won’t find on many other cash back cards. For example, the Wells Fargo Active Cash® Card gives you similar sign-up bonuses and introductory APR benefits, but you get an unlimited 2% cash bonus.
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