QS or Freedom

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QS or Freedom

Postby Michael » Wed Aug 28, 2013 8:00 pm

I just applied for the Capital One Quicksilver and was accepted.

I am the joint account holder and my wife is an authorized user.

AMEX BCP is our main card (biggest expense is grocery and some medical).

I was going to use Cap One (1.5%) as the AMEX backup, but I was thinking about it more closely . . .

Chase Freedom is my second oldest card (2002) after AMEX.

Chase Freedom has a $56500 limit while Cap One has $15,000.

Chase Freedom has my wife as joint card holder, not just authorized user.

Since Chase freedom is joint, using it would help my wife's credit where Cap One Quicksilver would not help as much.

We have Chase checking, so we would get the bonus 10% at the end of the year (effectively making 1% purchases 1.1% and 5% purchases 5.5%).

Chase has some 5% categories (gas and restaurants mainly) which we use.

Also, Mastercard (my Freedom) gives some bonuses within the Shell "Fuel Rewards Network" when you use it, since it is the national payment partner of the Fuel Rewards Network (http://www.fuelrewardsnetwork.com).

Maybe I should stick with Chase Freedom as the AMEX backup and use Cap One for big purchases where 1.5% would have a big impact.

I do not want more credit cards, and prefer for simplicity to use only two cards on a day to day basis, with AMEX as the main card.

Which of the other two sounds best?

Sorry for the length.

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Postby takeshi » Thu Aug 29, 2013 10:35 am

Best is always subjective. You'd have to decide what your biggest priorities are. I'd use each card for the highest rewards offered on various spend categories. However, since you only want to have two cards you have to determine if the Freedom's rotating 5% categories and 1% on all else are a better fit than the Quicksilver's overall 1.5%.

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Postby mdl28 » Thu Sep 12, 2013 9:29 pm

You have. 56K limit with chase?

Amex Gold Prem'r
Amex BCP
Amex Green
Barclays Ring Platinum MasterCard
Citi Diamond Pref'd
Chase Sapphire Pref'd Visa Signature
Chase Freedom MasterCard
Discover It
New York Life Visa Signature

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Postby RewardHop » Fri Sep 13, 2013 1:21 am

Freedom is good some quarters and bad other quarters. My suggestion is to use the Freedom on quarters that make sense for your spending categories and then swap it out for the Quicksilver during quarters that it doesn't. Also, for things you might have on autopay via credit card (ie cable bill), it probably makes more sense to use the QS over the Freedom.

Since Chase freedom is joint, using it would help my wife's credit where Cap One Quicksilver would not help as much.

Can you explain a bit more? It seems to me as long as the Freedom doesn't get closed, your wife would still benefit from having it on her credit report?
Amex BCE: 3% grocery, 2% gas
Bank of America Better Balance Rewards MC: $25/quarter bonus
Barclaycard Rewards Visa Signature: 2% gas, groceries, utilities
Capital One Quicksilver Visa Signature: 1.5% everything
Chase Freedom Visa Signature: 5% rotating
Citi Forward Visa: 5% restaurants/fastfood, movie theaters, amazon.com
Discover It: 5% rotating
SallieMae MC: 5% Groceries, Gas, Amazon
US Bank Cash+ Visa Signature: 5% electronic stores, restaurants
Sock Drawered: Chase Sapphire, Chase Amazon[/size]

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