It’s always nice when a credit card gives you a kick-back on something you’d buy anyway.
If you’re a Spotify subscriber, the Capital One Quicksilver card is doing just that with a 50 percent discount on Premium subscriptions thorough April 2018. And, unlike a lot of promos of this nature, you don’t have to be a new cardholder or new subscriber to cash in.
If you have a Capital One Quicksilver or QuicksliverOne card and a Spotify Premium subscription (billed monthly), you qualify.
The following types of Spotify subscriptions are eligible:
- Standard Premium plan ($9.99/month)
- Student Discount plan ($4.99/month)
- Family Plan ($14.99/month)
You don’t need to enroll in this deal — but you must link your Quicksilver card as the billing method for your Spotify account.
How much it’s worth
This rebate will be given to you as a statement credit to your card. Assuming you have Spotify today and keep it through the end of the promo (which ends April 30, 2018), that’s 12 months. Here’s how much you’d get back with each eligible plan:
- Standard Premium plan: $59.94
- Student Discount plan: $29.94
- Family Plan: $89.94
How excited should you be about this?
If you have Spotify and the Quicksilver card already, you’re getting what amounts to a 50 percent refund. If you were thinking of giving Spotify a try but were deterred by the cost, 50 percent back may make it more affordable.
We won’t go so far as to say it’s worth applying for Quicksilver (if you wouldn’t already) to get this discount. Sure, saving $59.94 a year is nice, but getting a new card requires a hard inquiry. So weigh the long-term value and sign-up bonus of the Quicksilver carefully before applying.
The subset of people for whom this news is most compelling are probably those who have Spotify AND have a Quicksilver card, but who use another card to pay for their Spotify subscription. Should this deal compel you to switch out payment methods? We think so. Even if you’re using a card that earns high-value reward points — like the Starwood Preferred Guest card from American Express (a CreditCardForum advertising partner) or Chase Sapphire card — you’ll still be getting more out of Capital One’s deal.
Starpoints are worth 2.7 cents each and Chase Ultimate Rewards points are worth 2.2 cents each, according to The Points Guy’s most current (May 2017) valuations. By using cards earning UR points or Starpoints to pay for a Standard Spotify Premium subscription, you’d earn 119 points, worth about 3 bucks in either of those currencies over the next year. So, if your Quicksilver card is in the sock drawer, consider taking it out and using it for your Spotify subscription this year. In fact, that’s what Capital one is probably hoping you’ll do — issuers usually run these types of promos to get you thinking about their cards again.
Do you plan on taking advantage of this promo? And will it inspire you to dust off your Quicksilver card?
Written May 11, 2017