– Hello, today I will be
reviewing two very popular cashback credit cards, the
Capital One Quicksilver, versus Chase Freedom Unlimited. If you want to know which is
the best card, stick around. (uplifting music) Welcome, if this is your first time, welcome back if it's not. Today I'm doing a comparison
of two very popular cashback credit cards,
Capital One Quicksilver versus Chase Freedom Unlimited. Which is the better card? Stay 'till the end and find out. Hi, so I picked the
Capital One Quicksilver and the Chase Freedom Unlimited card because these are two very
simple, straightforward cashback credit cards. They both earn 1.5% on all purchases, so there really isn't anything complicated with this kind of cashback credit card. So I will, in this video,
go over different aspects of each card, and things that you may want to be aware of before you decide to apply for a cashback credit card. So let's get started. Okay, so this is a very
simple, straightforward cashback credit card.
It is really geared towards people that are looking for a simple
type of reward credit card. Both the Capital One
Quicksilver MasterCard, and the Freedom Chase Unlimited Visa offer 1.5% cashback on all your purchases. This is also a great card for people that have different reward cards that are good for specific categories. There are times when you make purchases that don't fit in a certain
niche in a category, and this is when using
one of these two cards, either Quicksilver, or
the Freedom Unlimited is a good idea, because
you will receive 1.5%, versus the typical 1%
cashback you'd receive on those other specialty cards when you make purchases outside a specific category for those reward cards. So I myself have the Capital
One Quicksilver card, and it is a card I find myself
using time and time again. It has always been an
easy, straightforward credit card to use, and
that's why I decided that we should discuss it today, and that's why I'm talking about the Chase Freedom Unlimited,
because they are nearly the same, but they're
not exactly the same, and I will talk about that in this video.
So the question is, have I overthought all of this once again,
and I also provided you with an article on creditfast.com. Of course I have, and
you can find the link to that article in the
description below this video, and you'll see that I have covered things in this article that I
haven't covered in this video, and vice versa. So if you want to see
the complete picture, visit that article, and you'll find that this video is also
located in the article. So Quicksilver and Freedom Unlimited are very similar credit cards, and one difference that means a lot to me is that the Capital One Quicksilver card has no foreign transaction fees. And since getting the
Capital One Quicksilver card, I have been out of the country twice, and I have used the
Quicksilver card with ease with all my purchases. I earned my 1.5% cashback with
no foreign transaction fees, but unfortunately the
Freedom Unlimited card does charge 3% foreign transaction fees. So if traveling out of
country is important to you, you might want to consider
the Capital One Quicksilver, or look to see what other
credit cards you have that do not charge
foreign transaction fees.
Something very important to point out is that the Chase Freedom Unlimited Card is part of the Chase 5/24 rule. Simply what the Chase 5/24 rule is, is that if you applied and got
applied for five credit cards in 24 months, you will not
be able to get approved for the Chase Freedom Unlimited card, even if you have very
good to excellent credit. The Capital One credit
card company doesn't have a rule like this, so the
Capital One Quicksilver card in this case would be a
better option for you.
So if you want to know more
about the Chase 5/24 rule, I do have an article
about it that goes into more details and I list which Chase cards are part of it, and which
Chase cards are not. And I wish I knew about
that three years ago, because I was stung by
the Chase 5/24 rule. At that time I wasn't running
my blog creditfast.com and I wasn't doing this YouTube channel, so I was out of the loop,
so I didn't know about it. And when you apply for these cards, if they are part of the 5/24 rule, unfortunately, and I've never seen this, they never let the people applying, they never make them aware of this, so this is why I'm telling you this today. There's no reason to ever
apply for a credit card that you simply will not get approved for, and the only thing
you're gonna be left with is a hard credit inquiry, an unnecessary hard credit inquiry. And the funny thing about it was that if I had known, because I had applied for the Amazon Chase Visa card, that ended up being my fifth card, if I had applied for the
United card a few days before, I probably would have the
Chase United card right now, but I don't.
It would've been better for me to apply for the Chase United card first because the Amazon Visa card,
that is also issued by Chase, but the Amazon Visa card issued by Chase is not part of 5/24. So it wouldn't have mattered if it was the sixth credit card. So if you want to know which
credit cards are affected, visit my article, and I list the cards that are affected by 5/24, and
the Chase cards that are not. Okay, so I'm gonna tell
you a really important thing that you need to
know about the Capital One Quicksilver card, there are actually two Capital One Quicksilver
cards, one is for fair credit, and one is for good credit. Now the one for good
credit has no annual fee, but the one for fair credit does. So if you have good credit, make sure that you apply for the
Capital One Quicksilver without the annual fee.
And if you have fair credit, do not apply for the Capital One Quicksilver
card for fair credit, and I can tell you this from
my own personal experience that there is no need to. I did a video last year on the Capital One Platinum MasterCard, and in it I described how I used that card to rebuild my credit, and with that, the
Capital One Platinum card is a no annual fee. And when I applied for
it and got approved, I had that card for just a few months, no more than three months,
and what happened was, after I spoke to somebody
at customer service for an unrelated issue, they asked me if I wanted to product
change my Capital One Platinum card to the Capital
One Quicksilver card, and of course I did.
So they product changed
it, the 1.5% cashback with no annual fee. So this is the route I suggest
if you have fair credit. Get the Capital One Platinum card and try to product change it. Sometimes I've heard from people that you can't always do
it, but a lot of people that watch this channel have
told me in the comments section that they were able to
do a product change. And one viewer was able to get
the Capital One Venture card. So do it that way and
you won't have to pay the annual fee. So like I said, I don't have
the Chase Freedom Unlimited, and clearly the reason why
is that I'm disqualified because of the Chase 5/24 rule. But if you have the
Chase Freedom Unlimited, please leave a comment
below and let us know how you like it.
Just tell us about how
it is to be a cardholder, any kind of unique perks
or quirks with this card, we'd like to know. Even better, if you have
both the Quicksilver and the Freedom Unlimited, comment below and tell us the
differences, and which card you actually like better,
and if you had to choose, which card you would rather have. So like I said in the
beginning of the video, Quicksilver and Freedom
Unlimited are great cards, but you can use other
cards to get more rewards. And for me, one of the main things I do is I like dining a lot,
and rather than just earning 1.5%, I use two
credit cards to earn the maximum amount of dining rewards.
I have the Fifth Third Trio MasterCard, and it's very similar, and
you can do the same thing with the Capital One Savor card. I did a video comparing those two cards, and the other card I have
is the Discover It card, which offers 5% cashback,
usually third quarter, on dining. So nine months out of the
year I earn 3% cashback on dining, and three months I earn 5%. And I created a playlist
above, and there's three videos in this playlist.
If you watch all three
videos in my dining playlist, you will know how to completely maximize the amount of rewards
you could possibly earn simply by dining. One video is on the Fifth
Third Trio MasterCard, and I compare that card to
the Capital One Savor card. So they both earn 3% cashback. There's also another Savor
card from Capital One that you can earn 4%, but that card has an annual fee.
So depending on how
much you're dining out, you'd have to kind of
weigh out the benefits to see if paying an annual
fee will be worth it. And then I talk about the
Dining Networks program, and that's a program that I've been using quite successfully for many years with earning extra rewards through dining. And I don't earn cashback with it, but I earn frequent
flier miles from United. And after that, if you use the restaurants that participate in the Dining Network, you can earn extra frequent filer miles, but you can earn other types of rewards. I go into all the details in that video. Finally, I added for the third video one that wasn't even done by me, but was done by a very well
known credit card YouTuber, that's Ask Sebby, and
you probably already know about Ask Sebby, I like his channel. Ask Sebby's a good channel to look at too because he goes into a lot of detail about different credit cards. In his dining video he went over some other programs that you can use.
He did go over Dining Network's, he didn't go over it
nearly as much as I did, but he goes over other ways that you can earn dining rewards. So just by watching these
three informative videos, my two videos, and Ask Sebby's video, you will get a really good idea how you can increase the amount
of rewards you earn simply by dining. Okay, so which is the better card? Capital One Quicksilver versus
Chase Freedom Unlimited. Well I think you know the answer to this. They're nearly exactly the same, however one might be better for you, so that would be the best card for you. So thank you for watching
today, if you think I did a good job please
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Thank you, and until next time..