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Saturday, April 4, 2020

Capital One® Quicksilver® Cash Rewards Credit Card VS. Discover it® (4 Key Differences)

Capital One® Quicksilver® Cash Rewards Credit Card VS. Discover it® (4 Key Differences)

credit card advice

Linsey Knerl
By: Linsey Knerl
Updated: March 6, 2020
Advertiser Disclosure

If you have taken good care of your credit, you may be in the position to choose between the Capital One® Quicksilver® Cash Rewards Credit Card and the Discover it® Cash Back credit cards. Both offer some very attractive perks, but which one is best? Since your decision may come down to picking between VISA or Discover, the following differences will be important to consider.

Let’s take a look at the Capital One Quicksilver vs. Discover It cards, including their issuing banks and networks, cash-back offers, card member benefits, and differences in their mobile app offerings.

1. Differences in the Issuing Banks & Networks

While both cards are offered to those with a very good to excellent credit history, the similarities don’t go much beyond that, starting with the issuers and networks. Capital One is a growing bank with branches across the country, and its cards are typically operated on the Visa or Mastercard credit card processing networks.

Discover, on the other hand, acts as its own issuing bank and processing network. While Discover acceptance is basically on par with Visa and Mastercard in the U.S., international acceptance is still lagging behind in some areas. 

2. Differences in Cash-Back Offers

While the details of certain bonus and new-customer offers can change, both cards offer cash back for all purchases. The Capital One® Quicksilver® Cash Rewards Credit Card gives 1.5% on all purchases, regardless of category.

CASH BACK RATING

★★★★★
4.7

OVERALL RATING

4.8/5.0
  • One-time $150 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
  • 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 for 15 months; 15.49%-25.49% variable APR after that
  • 0% intro APR on balance transfers for 15 months; 15.49%-25.49% variable APR after that; 3% fee on the amounts transferred within the first 15 months
  • Pay no annual fee or foreign transaction fees
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% for 15 months
0% for 15 months
15.49% - 25.49% (Variable)
$0
Excellent, Good

The Discover it® Cash Back, on the other hand, offers a minimum of 1% on all categories. However, each quarter the card offers a new bonus category that earns 5% on up to $1,500 in eligible category purchases once the bonus category has been activated. 

Discover it® Cash Back

This card is currently not available.

Cash Back Rating

★★★★★
N/A

OVERALL RATING

N/A
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
N/A
N/A
N/A

Both cards claim to give you the option to redeem your cash back rewards at any time, for any amount.

3. Differences in Standard Card Member Benefits

Capital One® Quicksilver® Cash Rewards Credit Card customers will receive the traditional protections that all Capital One credit cardholders currently enjoy. These include fraud protection on 100% of unauthorized purchases, extended manufacturer’s warranty protection, and the Eno® assistant with virtual card numbers. 

Discover has its own benefits, including the comprehensive FICO Score tracking and Social Security number alerts. Discover will also overnight a replacement card at no cost to you, if your card should become lost or stolen, and provides $0 Fraud Liability on unauthorized purchases.

4. Differences in Mobile App Offerings

Capital One’s Wallet App lets customers keep record of receipts on the go – before ever leaving the store – so that keeping track of purchases is easier than ever. Detailed retailer and transaction info is displayed in an easy-to-read format, and up to 25 gift cards can be “digitized” for simpler purchasing without carrying around stacks of plastic. Capital One also provides its own version of a credit score for free.

Discover’s own mobile app does the traditional banking tasks of seeing balances and activity, but also includes a clever “freeze” feature, which allows you to temporarily disallow new purchases, cash advances, and balance transfers in the event you lost your card or suspect fraud. App users can also view their FICO Score for free, as well as view and redeem partner offers and Cashback Bonus rewards.

Final Thoughts

While the differences may be significant, both the Capital One® Quicksilver® Cash Rewards Credit Card and Discover it® Cash Back cards seem to be competing in the market by continually offering innovative benefits for card members. In addition to special new-member offers, such as special balance transfer rates and introductory promo perks, both the Capital One® Quicksilver® Cash Rewards Credit Card and the Discover it® Cash Back would make a good addition to any credit card user’s toolkit.