topic Re: Citi Double Cash arrived today AND SURPRISE! in Credit Card Approvals

Citi Double Cash arrived today AND SURPRISE!

Anonymous — Tue, 30 Aug 2016 21:29:33 GMT

I flipped the card around as I was checking it out and it's a world elite mastercard!!

I am surprised with this considering my limit is only $1k! Nevertheless, I am very excited! I have the mastercard trifecta now - regular, world & world elite!

Woohoo!

Re: Citi Double Cash arrived today AND SURPRISE!

Anonymous — Tue, 30 Aug 2016 22:18:58 GMT

Congrats. I got the same card and same 1k. I'll deal with it.

Re: Citi Double Cash arrived today AND SURPRISE!

sarge12 — Tue, 30 Aug 2016 22:25:32 GMT

@Anonymous wrote:
I flipped the card around as I was checking it out and it's a world elite mastercard!!

I am surprised with this considering my limit is only $1k! Nevertheless, I am very excited! I have the mastercard trifecta now - regular, world & world elite!

Woohoo!

Congats...now if you are willing to use another hard pull, you may be able to get a cli. I recieved mine with a 4000sl and immediatly requested cli to 10000 and was approved.

Re: Citi Double Cash arrived today AND SURPRISE!

Anonymous — Tue, 30 Aug 2016 22:30:53 GMT

@Anonymous wrote:
I flipped the card around as I was checking it out and it's a world elite mastercard!!

I am surprised with this considering my limit is only $1k! Nevertheless, I am very excited! I have the mastercard trifecta now - regular, world & world elite!

Woohoo!

Congrats on the approval. If you are willing to take another HP, they will pull EQ ( most likely) for a CLI. If not, you can wait for the auto CLI down the road

Re: Citi Double Cash arrived today AND SURPRISE!

Anonymous — Tue, 30 Aug 2016 22:31:29 GMT

What does World Elite Mastercard mean? I'm assuming not a whole lot if they'll give it to a non AF, low credit limit card?

Re: Citi Double Cash arrived today AND SURPRISE!

sarge12 — Tue, 30 Aug 2016 22:35:28 GMT

@Anonymous wrote:
What does World Elite Mastercard mean? I'm assuming not a whole lot if they'll give it to a non AF, low credit limit card?

About the same as visa signature.

Re: Citi Double Cash arrived today AND SURPRISE!

sarge12 — Tue, 30 Aug 2016 22:41:11 GMT

@sarge12 wrote:
@Anonymous wrote:
What does World Elite Mastercard mean? I'm assuming not a whole lot if they'll give it to a non AF, low credit limit card?
About the same as visa signature.

I'll add that visa signature and WEMC is able to justify increased merchant swipe fees to cover the cost of the perks that noone uses. It is the free enterprise system at it's finest.

Re: Citi Double Cash arrived today AND SURPRISE!

Anonymous — Tue, 30 Aug 2016 22:47:45 GMT

congrats !! gotta love that shiny WEMC logo. Good surprises are fun aren't they

Re: Citi Double Cash arrived today AND SURPRISE!

Anonymous — Tue, 30 Aug 2016 23:18:07 GMT

That's ridiculous. Putting in 'perks' that NO one uses just to be able to charge more? Which in turn means higher prices for consumers.. so wrong.

Re: Citi Double Cash arrived today AND SURPRISE!

sarge12 — Tue, 30 Aug 2016 23:22:33 GMT

@Anonymous wrote:
That's ridiculous. Putting in 'perks' that NO one uses just to be able to charge more? Which in turn means higher prices for consumers.. so wrong.

I agree, but it is a game they have played for a while. There may be someone, somewhere, using the visa signature and WEMC perks, but I do not know of anyone personally.

Re: Citi Double Cash arrived today AND SURPRISE!

pc01user — Wed, 31 Aug 2016 23:40:34 GMT

Nice surprise! Enjoy!

Re: Citi Double Cash arrived today AND SURPRISE!

MJ-san — Thu, 01 Sep 2016 00:56:37 GMT

It's all about the MERCHANT SWIPE FEES.

The bennies that are offered for Platinum vs Gold vs WMC vs WEMC are negligible in cost to the bank.

It's the MERCHANT is who is paying for our double cash back ...

Merit 3 - Swiped - Core Value 1.93 % + $0.15

Merit 3 - Swiped - World Rate 2.08 % + $0.15

Merit 3 - Swiped - World Elite 2.55 % + $0.15

That's about a 32% increase in THEIR cost for accepting a WEMC vs "regular" MasterCard.

Charge a $200 dinner ... merchant pays $5.25 vs $4.01. If 100 diners all used a WEMC vs. a gold MC... $525 vs $401

Now multiple the same scenario by 1,000 restaurants... or any way you want to scale up that number... and it's millions of $ a year.

I have friends who own a small restaurant ... they HATE how this new system works. You can't really say "show me your wallet, I'll take -this- MasterCard, but not THAT one...".

Re: Citi Double Cash arrived today AND SURPRISE!

sarge12 — Thu, 01 Sep 2016 01:12:30 GMT

@MJ-san wrote:
It's all about the MERCHANT SWIPE FEES.

The bennies that are offered for Platinum vs Gold vs WMC vs WEMC are negligible in cost to the bank.

It's the MERCHANT is who is paying for our double cash back ...

Merit 3 - Swiped - Core Value 1.93 % + $0.15
Merit 3 - Swiped - World Rate 2.08 % + $0.15
Merit 3 - Swiped - World Elite 2.55 % + $0.15

That's about a 32% increase in THEIR cost for accepting a WEMC vs "regular" MasterCard.

Charge a $200 dinner ... merchant pays $5.25 vs $4.01. If 100 diners all used a WEMC vs. a gold MC... $525 vs $401

Now multiple the same scenario by 1,000 restaurants... or any way you want to scale up that number... and it's millions of $ a year.

I have friends who own a small restaurant ... they HATE how this new system works. You can't really say "show me your wallet, I'll take -this- MasterCard, but not THAT one...".

And the card holders rarely use the extra perks. My scores are over 800, so they never even ask me do I really want WEMC, or Visa Sig., I do not recieved anything but these higher tier cards like it or not! I sort of feel bad for the merchants.

Re: Citi Double Cash arrived today AND SURPRISE!

Anonymous — Thu, 01 Sep 2016 02:08:51 GMT

Congrats!

Re: Citi Double Cash arrived today AND SURPRISE!

Anonymous — Thu, 01 Sep 2016 05:29:50 GMT

Congrats! Citi DC is a great CC to have. Welcome to Citi DC family

Re: Citi Double Cash arrived today AND SURPRISE!

Anonymous — Thu, 01 Sep 2016 05:41:24 GMT

@MJ-san wrote:
It's all about the MERCHANT SWIPE FEES.

The bennies that are offered for Platinum vs Gold vs WMC vs WEMC are negligible in cost to the bank.

It's the MERCHANT is who is paying for our double cash back ...

Merit 3 - Swiped - Core Value 1.93 % + $0.15
Merit 3 - Swiped - World Rate 2.08 % + $0.15
Merit 3 - Swiped - World Elite 2.55 % + $0.15

That's about a 32% increase in THEIR cost for accepting a WEMC vs "regular" MasterCard.

Charge a $200 dinner ... merchant pays $5.25 vs $4.01. If 100 diners all used a WEMC vs. a gold MC... $525 vs $401

Now multiple the same scenario by 1,000 restaurants... or any way you want to scale up that number... and it's millions of $ a year.

I have friends who own a small restaurant ... they HATE how this new system works. You can't really say "show me your wallet, I'll take -this- MasterCard, but not THAT one...".

That's Crazy!

I own a small business and fortunately most of my customers use their Visa Debit card from their bank but it always hurts a little when someone gives me a Visa Signature card or American Express/Discover. I gladly accept it with a smile but internally it does sting.

Re: Citi Double Cash arrived today AND SURPRISE!

Anonymous — Thu, 01 Sep 2016 11:24:55 GMT

I chatted with them last night, and they wouldn't move mine from the world to the world elite, they said everyone's card was getting upgraded and I would receive a notice soon. I don't believe them though.

Re: Citi Double Cash arrived today AND SURPRISE!

Jerry45 — Thu, 01 Sep 2016 21:51:00 GMT

@sarge12 wrote:
@sarge12 wrote:
@Anonymous wrote:
What does World Elite Mastercard mean? I'm assuming not a whole lot if they'll give it to a non AF, low credit limit card?
About the same as visa signature.
I'll add that visa signature and WEMC is able to justify increased merchant swipe fees to cover the cost of the perks that noone uses. It is the free enterprise system at it's finest.

Probably right, but it does help a little with Renting a car and collision insurance.

Re: Citi Double Cash arrived today AND SURPRISE!

Jerry45 — Thu, 01 Sep 2016 21:53:37 GMT

@sarge12 wrote:
@MJ-san wrote:
It's all about the MERCHANT SWIPE FEES.

The bennies that are offered for Platinum vs Gold vs WMC vs WEMC are negligible in cost to the bank.

It's the MERCHANT is who is paying for our double cash back ...

Merit 3 - Swiped - Core Value 1.93 % + $0.15
Merit 3 - Swiped - World Rate 2.08 % + $0.15
Merit 3 - Swiped - World Elite 2.55 % + $0.15

That's about a 32% increase in THEIR cost for accepting a WEMC vs "regular" MasterCard.

Charge a $200 dinner ... merchant pays $5.25 vs $4.01. If 100 diners all used a WEMC vs. a gold MC... $525 vs $401

Now multiple the same scenario by 1,000 restaurants... or any way you want to scale up that number... and it's millions of $ a year.

I have friends who own a small restaurant ... they HATE how this new system works. You can't really say "show me your wallet, I'll take -this- MasterCard, but not THAT one...".

And the card holders rarely use the extra perks. My scores are over 800, so they never even ask me do I really want WEMC, or Visa Sig., I do not recieved anything but these higher tier cards like it or not! I sort of feel bad for the merchants.

Never feel sorry for the Merchants, who charge many 20% APR's. LOL. As a pro capitalist myself, I was never very happy with the bank bailouts in 2008, which we all payed for.