No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
Citi rep told me that Citi Simplicity Visa will go to a MC. Has anyone else have herd this?
They have switched most of their cards to MC...the Diamond Preferred, Thank You Preferred, and Simplicity. But I thought this occured awhile ago, like a year. I guess for existing cardholders it is taking longer.
@corymcd88 wrote:Citi rep told me that Citi Simplicity Visa will go to a MC. Has anyone else have herd this?
My Simplicity has always been a MasterCard ever since I got it in 2011, which is around the time they rolled out the product. There was a time that it was issued as a Visa shortly thereafter, however. A number of their products have been offered as a Visa, MC, and even AmEx. The Thank You Premier has been offered on all 3 for example. It does seem as though Citi is cozy with MasterCard now.
@kdm31091 wrote:They have switched most of their cards to MC...the Diamond Preferred, Thank You Preferred, and Simplicity. But I thought this occured awhile ago, like a year. I guess for existing cardholders it is taking longer.
I got my Simplicity on Feb 2015.
On their website, the Simplicity is listed as a MC. I currently have their Hilton Hhonors Visa Signature and I wonder if they will switch it to MC as well.
@TitaniumCash wrote:On their website, the Simplicity is listed as a MC. I currently have their Hilton Hhonors Visa Signature and I wonder if they will switch it to MC as well.
i was told the Hilton cards will be converted to Mastercards next month. I tried to PC my Hilton card and was told I couldn't until after the conversion was completed.
They changed my Dividend as well but they are taking forever to send the new card!
From a banking standpoint it's all about driving revenue and profitability from their card portfolios. It use to be that banks issued cards on one platform (MC) or the other (Visa). Then into the 1990's they began to issue on both platforms in order to provide consumers choice. About 10 years ago banks were forced to issue AMEX branded cards as part of a settlement between AMEX & MC/Visa. But then comes the financial crisis and the Obama administration along with all the abusive regulation/legislation such as Dodd Frank. THis essentially strips banks of the profit they can make from debit / credit cards. So now banks negotiate with one platform(MC) or the other(VS) for the best interchange rates. They move their card portfolios over to who give them the best deal in order to squeeze as much profit as they can from the card business. Citibank cut a deal with MC a couple years ago to convert the vast majority of their cards over to MC. Chase has a similar deal with Visa. Bank of America recently inked a deal with MC and as a result have been moving their debit cards over to that platform.