by Lyle Daly | Updated Oct. 19, 2021 - First published on Oct. 27, 2020
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Thinking of getting a new cash back card? Here are two options that just got better bonuses.
New sign-up bonuses are now available from a pair of Capital One credit cards.
The Capital One Quicksilver Cash Rewards Credit Card and the Capital One SavorOne Cash Rewards Credit Card each offer $200 cash bonuses when you spend $500 on purchases within three months of account opening. That's a $50 increase from their previous bonuses of $150.
Given that both offer a quick $200, which should you choose? A look at their features will help you figure that out.
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The Capital One Quicksilver Cash Rewards Credit Card keeps things simple. It earns the same 1.5% cash back rate on your spending. That's competitive among cash back credit cards, although some bonus categories would be nice.
If you need to make an expensive purchase and pay it off gradually, both cards are a good choice. These cards don't charge interest on purchases and balance transfers for 15 months, one of the longer 0% intro APR offers available now.
Another big benefit with these Capital One cards is their lack of fees. You won't pay an annual fee. And since there's no foreign transaction fees, you can also take them with you on international travels.
The Capital One SavorOne Cash Rewards Credit Card is aimed at consumers who like to go out. Its 3% cash back rate is great rate compared to other no-annual-fee cards.
Besides its rewards rate, the Capital One SavorOne Cash Rewards Credit Card offers the same perks as the Capital One Quicksilver Cash Rewards Credit Card. That includes the introductory 15-month 0% purchase and balance transfer APR, no annual fee, and no foreign transaction fees.
To get either of these Capital One credit cards, you'll likely need a FICO® Score of at least 670. Approved applicants tend to have good or excellent credit.
Capital One includes criteria on its site for potential cardholders. Specifically, both credit cards are aimed at those who:
These improved sign-up bonuses could be Capital One's way of staying competitive with Chase. Both the Chase Freedom Flex℠ and the Chase Freedom Unlimited® also have $200 bonuses for spending $500 on purchases in three months.
Whatever the reason, it's good news for consumers. If either Capital One card caught your eye, apply for it now and start off with more money back.
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