![]() ![]() Truthfully, it shouldn’t have gotten that much action given that it’s costing me $39 a year to keep a card that’s no good. It is rarely in my wallet and only gets a purchase or two per year to keep it active. That’s a lousy return.Īs you might guess, this card sees little action. Thanks to the fee, if I spent $2,000 on this card every month ($24K per year), I’d only earn a net 1.34% cash back ($360 earned at 1.5% – $39 = $321 net on $24K). Paying $39 per year for the honor of earning 1.5% cash back is ridiculous. There are a number of credit cards on the market that offer 2% cash back everywhere with no annual fee and plenty without an annual fee which offer either even higher cash back rates in the first year or ongoing rotating categories. It’s worth repeating quickly that the Capital One card I have is basically the same as the Quicksilver card, it just charges an annual fee. However, I’m at least kind of glad I held on to it because it recently led me to discover that I have other options - as well as which options I’ve sadly missed the boat on. I long ago should have torpedoed this card as the lame duck it is, but whether it is sentiment or a desire to hold on to an older account, I’ve kept it alive much to the opposition of everything I’d recommend to a reader ( do as I say, not as I do). I long ago picked up some nondescript Capital One credit card that offers a paltry 1.5% cash back everywhere, but unlike the Capital One® Quicksilver® Cash Rewards Credit Card (which also earns 1.5% cash back but rightfully has no annual fee), my GarbageCard (surely it has some other name that is less fitting) came with a $39 annual fee. ![]() My first credit card was with Capital One.
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