What are the differences between Chase Freedom and Capital One Quicksilver?

When you compare Chase Freedom and Capital One Quicksilver, the biggest difference is their ongoing rewards. Chase Freedom offers 5% cash back in specific quarterly bonus categories and 1% cash back on everything else. On the other hand, Capital One Quicksilver gives 1.5% cash back on all purchases.

So, it’s a win-win for qualified applicants with above-average credit who want a good everyday credit card. But Quicksilver is better for people who want to keep things simple, while Freedom has the potential for slightly higher rewards.

Chase Freedom’s ongoing rate of 5% cash back is limited to the first $1,500 spent each quarter in bonus categories. That’s $75 cash back per quarter, up to $300 a year. With the Quicksilver card, that same $1,500 would get you $22.50 per quarter, or $90 per year. That’s a difference of up to $210 annually.

You’ll have to activate a new category each quarter in order to earn the Freedom card’s 5% bonus. Past categories have included grocery stores, gas stations, restaurants, department stores and more. These categories are not exactly the same year to year, though some have repeated. And Chase Freedom’s bonus categories won’t always match up with your spending habits every quarter. This could make Quicksilver the better option by comparison.

In addition, Chase Freedom has a $0 annual fee and a $200 bonus for spending $500 within the first 3 months of opening an account. Plus, for the first year, you will get 5% back on groceries, up to $12,000 spent. Capital One Quicksilver also has a $0 annual fee and a $200 bonus for meeting the $500 spending requirement.

Both cards come with introductory 0% APR offers too. For Chase Freedom, it’s 0% for 15 months for purchases. Likewise, the Quicksilver card gives you an introductory rate on purchases of 0% for 15 months, but also comes with 0% for 15 months on balance transfers. Neither card was built for financing after their intro rates expire, however. Chase Freedom has a regular APR of 14.99% - 23.74% (V). For the Quicksilver card, it’s 16.49% - 26.49% (V).

It’s also worth noting that the Quicksilver card is the better choice for international travel. Quicksilver does not charge a foreign transaction fee. Chase Freedom charges 3% of each transaction in U.S. dollars.

Unfortunately, Chase Freedom may no longer be available to new applicants.

The Chase Freedom is a great cash back card and gives up to 5% back in rewards on purchases while the Capital One Quicksilver is a great 0% intro APR option. That’s 0% for 15 months on purchases and 0% for 15 months on balance transfers.