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Chase Freedom Unlimited vs. Capital One Quicksilver: Freedom Unlimited Wins by a Long Stride

Updated
Steven Porrello
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Steven is a personal finance writer covering topics from mortgages to credit cards to market news. He has written for The Motley Fool Canada, Ramsey Solutions, Nerdwallet, Clever Real Estate, and other major outlets. Steven launched his writing career at the age of four with his first book, "Revenge of the Bad Guys." He currently lives in Portland, Oregon.

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The Capital One Quicksilver Cash Rewards Credit Card (see rates and fees) is a popular cash back credit card that earns a flat 1.5% back on all purchases. But it's no match for the newly revamped Chase Freedom Unlimited®, which earns not only 1.5% back on everyday purchases but double that on drugstores and dining (including takeout and food delivery). With that in mind, let's take a closer look at how these two cards compare and see which might be the better choice for you.

Chase Freedom Unlimited vs. Capital One Quicksilver overview

As of Jun. 18, 2024
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Chase Freedom Unlimited® Capital One Quicksilver Cash Rewards Credit Card
Rating image, 5.00 out of 5 stars.
5.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
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Apply Now for Chase Freedom Unlimited®

On Chase's Secure Website.

Apply Now for Capital One Quicksilver Cash Rewards Credit Card

On Capital One's Secure Website.

Rates & Fees External Link Icon

Credit Rating Requirement: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Recommended Credit Score required for this offer is: Good/Excellent (670-850)

Good/Excellent (670-850)

Credit Rating Requirement: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Recommended Credit Score required for this offer is: Good/Excellent (670-850)

Good/Excellent (670-850)

Welcome Offer: Circle with letter I in it. Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back. That's 6.5% on travel purchased through Chase Travel℠, 4.5% on dining and drugstores, and 3% on all other purchases.

Up to $300 cash back

Welcome Offer: Circle with letter I in it. $200 Cash Back after you spend $500 on purchases within 3 months from account opening

$200 Cash Back

Rewards Program: Circle with letter I in it. Enjoy 5% cash back on travel purchased through Chase Travel℠, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 1.5% on all other purchases

1.5% - 5% cash back

Rewards Program: Circle with letter I in it. Earn unlimited 1.5% cash back on every purchase, every day. Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply.

1.5%-5% cash back

Intro APR: Circle with letter I in it. 0% Intro APR on Purchases and Balance Transfers for 15 months

Purchases: 0% Intro APR on Purchases, 15 months

Balance Transfers: 0% Intro APR on Balance Transfers, 15 months

Intro APR:

Purchases: 0% intro on purchases for 15 months

Balance Transfers: 0% intro on balance transfers for 15 months (Balance Transfer Fee Applies)

Regular APR:

20.49% - 29.24% Variable

Regular APR:

19.99% - 29.99% (Variable)

Annual Fee: Circle with letter I in it. N/A

$0

Annual Fee:

$0

Highlights:

  • INTRO OFFER: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!
  • Enjoy 6.5% cash back on travel purchased through Chase Travel℠, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 3% on all other purchases (on up to $20,000 spent in the first year).
  • After your first year or $20,000 spent, enjoy 5% cash back on travel purchased through Chase Travel℠, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.
  • No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
  • Enjoy 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% - 29.24%.
  • No annual fee – You won't have to pay an annual fee for all the great features that come with your Freedom Unlimited® card
  • Keep tabs on your credit health, Chase Credit Journey helps you monitor your credit with free access to your latest score, alerts, and more.
  • Member FDIC

Highlights:

  • Earn a one-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening
  • Earn unlimited 1.5% cash back on every purchase, every day
  • $0 annual fee and no foreign transaction fees
  • Enjoy up to 6 months of complimentary Uber One membership statement credits through 11/14/2024
  • Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply
  • No rotating categories or sign-ups needed to earn cash rewards; plus, cash back won't expire for the life of the account and there's no limit to how much you can earn
  • 0% intro APR on purchases and balance transfers for 15 months; 19.99% - 29.99% variable APR after that; balance transfer fee applies
Apply Now for Chase Freedom Unlimited®

On Chase's Secure Website.

Apply Now for Capital One Quicksilver Cash Rewards Credit Card

On Capital One's Secure Website.

Rates & Fees External Link Icon

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Here's my personal experience with the Capital One Quicksilver card

The Capital One Quicksilver Cash Rewards Credit Card was my first credit card. I loved the flat-rate cash back on all purchases, which made it easy to keep track of my rewards, and appreciated how cash back was credited to my account immediately after charges were accepted. Over the years, I've graduated to other cash back cards, but still hold a soft spot for the Quicksilver.

Why Chase Freedom Unlimited might be the ideal choice

The Chase Freedom Unlimited® is more versatile than the Capital One Quicksilver Cash Rewards Credit Card and can earn double the cash back for drugstores and dining out. It also comes with a welcome offer worth up to $300, plus partner benefits like complimentary DashPass and Instacart+. One downside for travelers is that it charges a foreign transaction fee on purchases made abroad. Aside from that, it excels over the Capital One Quicksilver Cash Rewards Credit Card in nearly all categories.

READ MORE: Best Chase Credit Cards

When Capital One Quicksilver could be the better option

The Capital One Quicksilver Cash Rewards Credit Card has the same base rate as the Chase Freedom Unlimited® (1.5%) but lacks the bonus categories on dining and drugstores. New cardholders can snag a $200 welcome bonus by meeting certain spending requirements and get six months of complimentary Uber One membership through Nov. 14, 2024. Unlike the Chase Freedom Unlimited®, it doesn't charge a foreign transaction fee (see rates and fees).

READ MORE: Best Capital One Credit Cards

Chase Freedom Unlimited vs. Capital One Quicksilver comparison

The Chase Freedom Unlimited® offers more ways to earn cash back and a higher welcome bonus than the Capital One Quicksilver Cash Rewards Credit Card. Let's take a closer look at how these cards compare on annual, welcome offers, APR, and rewards.

Chase Freedom Unlimited vs. Capital One Quicksilver annual fee

Both the Chase Freedom Unlimited® and Capital One Quicksilver Cash Rewards Credit Card (see rates and fees) rank high among no fee credit cards. Though neither card charges an annual fee, the Capital One Quicksilver Cash Rewards Credit Card has a slight edge in that it also doesn't charge a foreign transaction fee. Meanwhile, the Chase Freedom Unlimited® charges a fee of 3% of each transaction in U.S. dollars on purchases made abroad.

Winner: Capital One Quicksilver Cash Rewards Credit Card

Chase Freedom Unlimited vs. Capital One Quicksilver welcome offer

As a welcome offer, the Chase Freedom Unlimited® offers something unique. Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back. That's 6.5% on travel purchased through Chase Travel℠, 4.5% on dining and drugstores, and 3% on all other purchases.

The Capital One Quicksilver Cash Rewards Credit Card (see rates and fees), for its part, offers a smaller welcome bonus of $200 Cash Back, but it's low-hanging fruit. To earn $200, new cardholders must spend $500 within the card's first 3 months. It's not as lucrative as what's offered on the Chase Freedom Unlimited®, but its spending requirement is also 40 times lower.

Winner: Chase Freedom Unlimited®

Chase Freedom Unlimited vs. Capital One Quicksilver intro APR

Both cards come with long 0% intro APR periods of 15 months for balance transfers and new purchases. Likewise, both cards also come with an introductory balance transfer fee of 3%. In this regard, however, the Capital One Quicksilver Cash Rewards Credit Card (see rates and fees) is slightly more favorable: 3% for the first 15 months; 4% at a promotional APR that Capital One may offer you at any other time. Whereas the Chase Freedom Unlimited® offers a 3% balance transfer fee for 60 days then becomes 5% after.

For both cards, the APR will revert to the regular purchase and transfer rate after the intro period ends. For the Capital One Quicksilver Cash Rewards Credit Card that means a 19.99% - 29.99% (Variable) APR, and for the Chase Freedom Unlimited®, a 20.49% - 29.24% Variable APR.

Winner: Capital One Quicksilver Cash Rewards Credit Card

Chase Freedom Unlimited vs. Capital One Quicksilver rewards

The Chase Freedom Unlimited® earns 5% back on travel booked through Chase Ultimate Rewards, 3% back on drugstores and dining (including takeout and eligible food delivery), and 1.5% everywhere else.

It also comes with three months of complimentary DashPass (must activate by Dec. 31, 2024), three months of complimentary Instacart+ (must enroll by July 31, 2024), and 5% cash back on Lyft rides through March 31, 2025. That's a lot of perks for a no fee credit card.

For its part, the Capital One Quicksilver Cash Rewards Credit Card earns an unlimited 1.5% back on all purchases and 5% back on hotels and rental cars booked through Capital One Travel (terms apply). It also comes with a complimentary Uber One membership through Nov. 14, 2024. Although the complimentary membership is a nice perk, the card doesn't earn 10% on Uber and Uber Eats purchases like its no fee brother, the Capital One SavorOne Cash Rewards Credit Card. (See rates and fees.)

Winner: Chase Freedom Unlimited®

Final take

The Chase Freedom Unlimited® has more rewards earning potential than the Capital One Quicksilver Cash Rewards Credit Card. With its bonus rates on drugstores and dining, its more lucrative welcome offer, and its partner benefits, the Chase Freedom Unlimited® drives a hard bargain among no fee cash back cards.

That said, the Capital One Quicksilver Cash Rewards Credit Card (see rates and fees) might appeal to those who want a simpler welcome bonus, no foreign transaction fees, or more favorable balance transfer terms. Both are solid cards, but most people will find one more beneficial than the other.