Capital One and Uber have teamed up to offer Capital One Quicksilver cardholders a 20% rebate on Uber rides until April 30, 2016.
This is in addition to the standard 1.5% cash back on all purchases with the Quicksilver card for 21.5% back total.
Selected questions and answers from the program FAQ:
- Which Capital One cards are eligible to participate?
- This benefit is valid for all Uber riders (both new and existing) and applicable only to Uber fares paid for with a Quicksilver or QuicksilverOne card.
- How long is this offer valid for?
- This offer is valid April 21, 2015 through April 30, 2016.
- Are there any other restrictions?
- There are no additional restrictions. The 20% statement credit is available on any Uber transaction (excludes UberT).
- How do I sign up for this program?
- There’s no sign up required! Simply take an Uber ride and be sure to pay with your Capital One Quicksilver or QuicksilverOne card. The 20% credit will be applied to your statement within 1-2 billing cycles.
- How will I know if the discount was applied to my ride?
- The 20% credit on your Uber ride will be applied to your Quicksilver or QuicksilverOne card as a statement credit within 1-2 billing cycles.
- I took an Uber ride using my Quicksilver or QuicksilverOne card, received an email receipt from Uber, and the 20% credit wasn’t applied to my ride. When and how will I receive my 20% credit?
- The 20% credit on your Uber ride will be applied to your Quicksilver or QuicksilverOne card as a statement credit within 1-2 billing cycles. If after 2 billing cycles you have not received the 20% credit on your Uber ride, please call the number on the back of your card.
- I used Uber’s “fare split” feature to split the cost of my trip with friends. Will I still receive a 20% statement credit if I paid with my Quicksilver or QuicksilverOne card?
- Yes, you’ll still receive a 20% statement credit on your share if you paid with your Quicksilver or QuicksilverOne card. Your friends will only receive a 20% credit if they also paid with a Capital One Quicksilver or QuicksilverOne card.
- Will I still receive a 20% statement credit if I use my Quicksilver or QuicksilverOne card to take Uber rides in a foreign country?
- The 20% statement credit is for all transactions, domestic and international.
- I earn 1.5% cash back on purchases with my Quicksilver or QuicksilverOne card. Will I receive 1.5% cash back on Uber rides in addition to the 20% statement credit?
- You will receive 1.5% cash back on the full value of your Uber fare in addition to the 20% statement credit.
The Quicksilver card offers 1.5% cash back on all purchases, no annual fee, and a $100 sign up bonus after spending $500 in the first three months.
The Quicksilver One card offers 1.5% cash back on all purchases, a $39 annual fee, and no sign up bonus.
Obviously get the Quicksilver card if you want to get one of the two.
Capital One is notorious for giving you three hard credit pulls when you apply, one from each credit bureau.
Can You Switch Another Capital One Card to Quicksilver Card?
I’ve read reports of people succeeding. Call the number on the back of your existing Capital One card and ask to be switched to the Quicksilver card. You won’t get the Quicksilver’s $100 sign up bonus, but you’ll save credit pulls and be able to earn a 21.5% rebate on Uber rides for the next 11.5 months.
Better to Get Quicksilver or a Different Card?
Getting 21.5% back on Uber is eye-popping, but do the math to see if getting the Quicksilver card makes sense. If you know you want a cash back card, compare the Quicksilver card to the Discover it Miles Card, which offers 3% back on all purchases for your first year plus a few other benefits. You’d need to spend 7.5%+ of all your credit card spending on Uber rides to make the Quicksilver card more rewarding for your spending than the Discover it Miles Card for the first year.
If you just want to compare getting the Quicksilver card to getting the best current sign up bonus on a personal card, compare it to the Citi Prestige® Card, which offers:
- 40,000 bonus ThankYou Points after $4,000 in purchases made with your card in the first 3 months the account is open
- $250 in airfare or airline fee credits per calendar year
- access to Priority Pass lounges
- 3x points per dollar on air travel and hotels
- and a $450 annual fee.
The Quicksilver card is offering a massive 20% off Uber rides until April 30, 2016 with no limit to the amount of rebate you can earn. That’s amazing, and I’d switch any Capital One card I had to a Quicksilver card to get in on the action.
I’m not sure I’d apply for the Quicksilver card, though, because that entails three credit pulls, and I might be better off getting a different cash back card like the Discover it Miles Card or a rewards card with a much bigger sign up bonus like the Citi Prestige® Card.