Capital One Offering Bigger Bonuses on 2 Popular Cash Back Cards

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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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Capital One Quicksilver Cash Rewards Credit Card

Features:

  • 1.5% cash back on every purchase
  • 0% intro APR on purchases for 15 months
  • No annual fee
  • No foreign transaction fees
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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 all 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 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.

Capital One SavorOne Cash Rewards Credit Card

Features:

  • 3% cash back on dining and entertainment
  • 2% cash back at grocery stores (excluding superstores, such as Walmart and Target)
  • 5% cash back on Uber Eats orders through Jan. 31, 2021
  • 1% cash back on all other purchases
  • 0% intro APR on purchases for 15 months
  • No annual fee
  • No foreign transaction fees

The Capital One SavorOne Cash Rewards Credit Card is aimed at consumers who like to go out. Its 3% cash back rate on dining and entertainment is a great rate compared to other no-annual-fee cards. This card will also get you 2% back on your groceries.

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Capital One has also added a limited-time bonus since almost everyone is staying in more during the COVID-19 pandemic. Cardholders will get 5% back with Uber Eats through the end of January 2021.

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 15-month 0% purchase APR, no annual fee, and no foreign transaction fees.

Qualifying for Capital One credit cards

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:

  • Have never declared bankruptcy or defaulted on a loan.
  • Haven’t been over 60 days late paying any bills in the last year.
  • Have had a loan or credit card for at least three years with a loan amount or credit limit of over $5,000.

Bigger bonuses from Capital One

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.

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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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View more information: https://www.fool.com/the-ascent/credit-cards/articles/capital-one-offering-bigger-bonuses-2-popular-cash-back-cards/

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