So Capital One has a lot of credit cards...in fact they have so many that I made an entire
video just to quickly talk about all of the credit cards that they offer.
But the most popular ones are the Capital One Quicksilver card and the Capital One Savor.
So in today's video, we're going to put these two products head-to-head, talk about the
advantages and disadvantages of each, and of course help you decide which one might
be the better financial tool for you.
Alright, let's jump right into it.
What is going on everyone I hope you are all having a fantastic day.
So just to clarify, we are specifically talking about the standard Quicksilver rewards card
in the standard saver rewards card in today's video and I say that because as you may know,
Capital One actually offers several different versions of each of these products depending
on what rewards you're looking to get and where you're at with your credit journey so
depending on which product you decide to go with definitely check out capital one's website
to figure out which specific option might be the better choice for you or you can also
check out the video that I made a few months ago that covers every credit card that Capital
One currently offers.
Alright so first of all we have the Quicksilver rewards card which is probably the more popular
of the two and overall this card is pretty simple and straightforward.
Currently, you're going to earn unlimited 1.5% cashback on all of your purchases plus
they will also currently give you a $200 cash signup bonus when you spend just $500 in the
first three months of having this card.
Now for starters, 1.5% back on everything is okay but remember there are cards out there
that will give you 2% back on everything and while the Capital One Quicksilver card does
not have an annual fee, again many of those 2% back options like the SoFi credit card,
the Citi double cash card, and even the Wells Fargo active cash card also have no annual
fee so in terms of cash back it does leave a little bit to be desired.
That being said the $200 cash signup bonus is really great and while some of those other
products that I just mentioned do offer a cash signup bonus, the low spending requirement
of just $500 is one of the lowest on the market and is really only matched by the chase freedom
flex card which has the same $200 signup bonus when you spend 500 bucks.
But many of the products that would rival the Quicksilver card have much higher spending
requirements in order to get that cash back bonus so overall I'd give it a thumbs up on
that one.
The cashback that you earn can be redeemed directly for cash and that can either be put
directly towards your credit card statement or can be sent to you as a check which is
kind of an outdated system in my opinion especially when there are products like these SoFi credit
card that allow you to directly redeem your cashback points into your cash accounts, invest
them in fractional shares and do a bunch of other cool things with them so the fact that
the only way to get actual cash out of this is to have a paper check sent to you in the
mail is a little bit ridiculous in my opinion.
But the good thing is you can also use that cashback directly towards purchases on a number
of online sites or you can redeem it for gift cards as well.
This card also has no foreign transaction fees which is always a plus, gives you extended
warranty protections, accident, and travel insurance, as well as capital one’s concierge
service and 24-hour travel assistance services.
You also get premier access with capital one's culinary experiences music events, sporting
events, and a lot of other little benefits that most people probably won't use but it
is nice that they are at least available with this free card.
So overall, the Quicksilver card is very simple and in a nutshell you're getting 1.5% cashback
on everything and a $200 sign-up bonus when you spend 500 bucks in the first three months.
Alright but moving on from there we have the Quicksilver cards Big Brother in a sence and
that would be the Capital One savor rewards card which for those of us that are foodies
has been one of if not the best credit card options for dining for years and years at
this point.
And that's because currently the Capital One savor towards card is going to give you 4%
unlimited cash back on all dining, entertainment, and popular streaming services as well as
3% back on all grocery store purchases.
Plus beyond that insane cashback offer, you also get a $300 cash bonus when you spend
$3,000 on purchases in the first three months.
Now I will mention that the Savor rewards card does currently have an annual fee of
$95 per year so as you can tell by that annual fee and the rewards that this card offers,
this is definitely a higher-end option and by no means would I say that this is an entry-level
credit card and honestly that goes with the Quicksilver card as well because both of these
products are going to require what they deem as excellent credit in order to get approved.
That being said again we are looking at the flagship versions of both of these products
so if you are interested in one of them then they do have alternative options with modified
rewards for individuals with lower credit scores.
Okay but back to the Savor card, this also has no foreign transaction fee, and all of
the same benefits that I mentioned with the Quicksilver card like the warranty protections
travel insurance concierge service in the travel assistance services as well.
So yes earning 4% back on all of your dining and entertainment and streaming services and
3% on all grocery stores is really awesome but unlike a lot of other products that offer
those bonus categories, you aren't going to earn any cash back outside of those spending
categories so what that means is this card is really only useful four dining entertainments
and grocery stores as well as streaming services I guess which is kind of a weird curveball
but you do earn 4% back on that so I will include that here.
Now one other major difference between the two that really does not matter at all but
I do always mention in my videos is that despite what you may think based on the pictures,
the Capital One Quicksilver card is NOT metal where is the saver awards card does come with
a metal veneer on the front depending on when you get it so again not important but since
these both have that brushed aluminum look in photos, I did just want to clarify that
the Quicksilver is not metal while the saver card does have a metal veneer If that matters
to you for whatever reason.
So honestly saying that one card is better over the other in this situation is a little
bit difficult but deciding between the two should be pretty easy since they are very
different.
If you want a flat simple cashback structure with no annual fee and you don't want to have
to worry about using the right card for certain spending categories and that whole thing then
you will definitely want to go with the Capital One Quicksilver card which again is going
to give you that 1.5% back on everything, that cashback is unlimited and you don't have
to activate any categories or anything like that.
On the other hand, if you are like me and you spend way too much money on food and dining
and all of that stuff then the save rewards card is kind of a no-brainer annual probably
be kicking yourself that you didn't get this card along time ago.
Unlimited 4% back on dining is crazy by itself but the fact that you also get that on entertainment,
streaming services, plus 3% on grocery stores which basically means 3% off of all of your
grocery store purchases things that this card could earn you some serious cash back.
That being said remember that this card does have a $95 annual fee so assuming that you're
getting that 4% back on your purchases, you would need to spend a little bit under $2500
each year in order to just break even but considering most of us spend a lot of money
on food and groceries, you're probably going to be just fine plus again you get that $300
cash bonus when you spend $3,000 in the first three months so while that spending requirement
is really high, if you're able to hit that then thats technically going to cover the
first three years of the savor card annual fee.
So personally for my situation, I would probably go with the saver awards card just because
I know that I spend a lot of money on dining and entertainment but if you're not able to
justify that annual fee and you'd rather just get simple flat cashback then you might want
to consider the Quicksilver card instead.
As always I would love to know what you think of these two products down in the comment
section below and which one you feel is the better fir for you and why.
Ill also leave a link to my video covering all of capital ones credit cards and a link
to their website where you can see th many cards that are available to figure out which
one is the best fit for you.
If you did get value out of this content and you want to help support me the easiest way
to do that is actually by checking out some of my favorite financial tools down in the
description below including one offer from the POINT cash back debit card currently that
will give you $100 when you sign up and make your first purchase so be sure to check that
out using the link down below.
be sure to hit the like button and subscribe to the channel for more content like this
in the future and of course, thank you so much for your time I really do appreciate
it so much take it easy and I'll see you in the next one!