Each card applies a variable APR on cash advances, with the Chase Freedom's - 19.24% to 23.24% - slightly more forgiving than the Capital One Quicksilver's - 24.9%. On both cards, a 3% fee - or $10, whichever is greater - is charged for cash advances. So if transferring a large amount - $1,000 or more - is a concern, the Chase Freedom card is the better choice. In addition to this more forgiving APR period, Chase is more likely to take on larger balances, as it tends to give card owners much higher credit limits than Capital One does. However, the Chase Freedom offers a 15-month 0% APR on transferred balances compared to the Capital One Quicksilver's 12-month 0% APR period. With both cards sporting similar APRs - these cards' balance transfer APRs fall within the same range as their regular APRs - it might seem as though there is no clear winner between the two. For example, if a card owner transfers $1,000 onto either card, an additional $30 will be added to the newly transferred balance for the cost of the service. The Capital One Quicksilver and Chase Freedom cards apply the same 3% charge on all transferred balances. The Chase Freedom's penalty APR is 29.99% compared to the Capital One Quicksilver's 29.4%. The penalty APR on these cards is nearly identical. When a card owner's account is delinquent for 60 days or more, both card companies will apply a "penalty APR" to whatever balance is on the card. Capital One's Quicksilver card gives owners interest rates between 12.99% and 22.99%, while owners of the Chase Freedom card are given interest rates between 13.99% and 22.99%. However, if a balance is kept on a card, both cards are likely to offer similar interest rates. To avoid being charged interest, credit card owners should pay off their card balances during each billing period. Lasting for 15 months, Chase Freedom's introductory period is longer than Capital One Quicksilver's 12-month deal. Annual Percentage Rate (APR)īoth cards offer an introductory APR of 0%. On average, approved Chase Freedom card users have a credit score of 682 compared to the approved Quicksilver card user's average credit score of 709. Generally, Chase is a little more forgiving than Capital One. Neither the Capital One Quicksilver nor the Chase Freedom has an annual fee, but consumers need a relatively good credit score to be approved for either card. Signing Up for Capital One Quicksilver or Chase Freedom Chase Freedom requires a minimum of $20 (2,000 points) to redeem cash back. One advantage the Capital One Quicksilver has over the Chase Freedom is that Capital One does not impose a minimum amount to redeem cash back cash back can be redeemed any time. Both offer statement credit, gift cards, checks, charitable donations, and other similar options as means of redemption. This is a better deal for some consumers who either do not want the hassle of keeping track of and enrolling in "bonus" categories or spend more money overall, so an extra 0.5% cash back on all purchases is worth more than $75 (which is the limit for the 5% cash back in a quarter from Chase Freedom).Ĭapital One's Quicksilver and Chase's Freedom offer similar ways to redeem rewards. The Capital One Quicksilver does not have rotating categories but instead offers 1.5% cash back on all purchases with no limit to the amount of cash back earned. Up to $15 for evey $100 spent, $25 for every $100 spent, $35 for every $250.Ĭhase Freedom bonus categories for 2014 that yield 5% cash back on purchases. Variable APR of 19.24% to 23.24% on cash advances. Variable APR of up to 24.9% on cash advances. Offers 0% APR on the transferred balance for the first 15 months. Offers 0% APR on the transferred balance for the first 12 months. One-time $200 bonus after spending $500 within 3 months of opening the account. One-time $100 bonus after spending $500 on purchases within the first 3 months Unlimited 1% back on all purchases outside of bonus categories and beyond $1,500 bonus limit. 13.99% to 22.99% variable APR after that.ĥ% back (on up to $1,500 in purchases, i.e., $75 cash back) on certain stores or categories of purchases that change every quarter. 12.9% to 22.9% variable APR after that.Ġ% intro APR for the first 15 months after account opening.
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