topic REI Co-op Mastercard moving to Capital One in Credit Cards

REI Co-op Mastercard moving to Capital One

CreditJim — Sat, 11 Jun 2022 18:12:06 GMT

I just had an email that on August 5, the REI Co-op Mastercard is moving from US Bank to Capital One.

Personally, I'm happy with this news as US Bank has always been so stingey with credit limits.

More info available here: https://reimastercard.capitalone.com/

Re: REI Co-op Mastercard moving to Capital One

Anonymous — Sat, 11 Jun 2022 18:21:53 GMT

@CreditJim wrote:
I just had an email that on August 5, the REI Co-op Mastercard is moving from US Bank to Capital One.

Personally, I'm happy with this news as US Bank has always been so stingey with credit limits.

More info available here: https://reimastercard.capitalone.com/

Well, not always. I got my US Bank REI card 2 years ago with a CL of $25K. Doubt that Cap One would be much better!

The rewards program slightly changes, but not in an important way, given the value prop of the card is only for purchases at REI getting 5%.

So the "everywhere else" going from 1% to 1.5% isn't a "Wow", and the fact the mobile payment bonus goes away (in effect from 2% to 1.5%) isn't terrible.

And no more check cash outs it appears, so rewards will be harder to redeem.

REI Mastercard moving to Capital One 8/5

mau471 — Sat, 11 Jun 2022 18:27:57 GMT

It looks like the REI Mastercard is moving from US Bank to Capital one on 8/5 of this year, just got the email. Looks like the biggest change is instead of 2% cashback on mobile wallet transactions and 1% other through other methods its going to 1.5% no matter how you pay except REI still at 5% and you will be able to redeem rewards monthly instead of yearly.

https://reimastercard.capitalone.com

Re: REI Co-op Mastercard moving to Capital One

OmarGB9 — Sat, 11 Jun 2022 18:37:26 GMT

@CreditJim wrote:
I just had an email that on August 5, the REI Co-op Mastercard is moving from US Bank to Capital One.

Personally, I'm happy with this news as US Bank has always been so stingey with credit limits.

More info available here: https://reimastercard.capitalone.com/

I have bad news for you. Capital One is just as stingy with CLIs, if not more.

Re: REI Co-op Mastercard moving to Capital One

NoMoreE46 — Sat, 11 Jun 2022 18:42:19 GMT

Thanks for the news @CreditJim

Re: REI Co-op Mastercard moving to Capital One

CreditJim — Sat, 11 Jun 2022 18:48:24 GMT

@OmarGB9 wrote:
I have bad news for you. Capital One is just as stingy with CLIs, if not more.

Not sure about that. My credit is in the 800s. US Bank gave me $3000, eventually increased to $6000, for my REI card.

I have $51k with my Capital One Quicksilver, and $30k with the Venture X.

Re: REI Co-op Mastercard moving to Capital One

OmarGB9 — Sat, 11 Jun 2022 18:52:45 GMT

@CreditJim wrote:
@OmarGB9 wrote:
I have bad news for you. Capital One is just as stingy with CLIs, if not more.

Not sure about that. My credit is in the 800s. US Bank gave me $3000, eventually increased to $6000, for my REI card.

I have $51k with my Capital One Quicksilver, and $30k with the Venture X.

Yes but those are their prime/legacy cards. It's not quite the same for their cobranded cards. Ask @SoCalGardener about their WM card.

Re: REI Co-op Mastercard moving to Capital One

AverageJoesCredit — Sat, 11 Jun 2022 19:32:56 GMT

@CreditJim wrote:
@OmarGB9 wrote:
I have bad news for you. Capital One is just as stingy with CLIs, if not more.

Not sure about that. My credit is in the 800s. US Bank gave me $3000, eventually increased to $6000, for my REI card.

I have $51k with my Capital One Quicksilver, and $30k with the Venture X.

Just because one has high limits with a lender does not make them less conservative. Just means they liked your profile. Cap One is notoriously more famous, or infamous if you will to be more conservative in handing out cli for most cards. They can give big limits for sure but as if late just as easily can reduce for small usage.

Re: REI Co-op Mastercard moving to Capital One

SoCalGardener — Sat, 11 Jun 2022 20:07:38 GMT

@OmarGB9 wrote:
@CreditJim wrote:
@OmarGB9 wrote:
I have bad news for you. Capital One is just as stingy with CLIs, if not more.

Not sure about that. My credit is in the 800s. US Bank gave me $3000, eventually increased to $6000, for my REI card.

I have $51k with my Capital One Quicksilver, and $30k with the Venture X.
Yes but those are their prime/legacy cards. It's not quite the same for their cobranded cards. Ask @SoCalGardener about their WM card.

Did I hear my name?! *waves*

Yep, @OmarGB9 is right--Cap1 is very stingy, at least in my experience. When they acquired my WM MC from Synchrony, its CL was $10,000. Three years later guess what its CL is? You're right!! $10,000. All CLI requests have been denied for one silly 'reason' or another. I've given up asking.

REI portfolio going to Capital One...

Physh1 — Sat, 11 Jun 2022 20:08:38 GMT

Didn't see this posted here but I just got an email from REI. On 8/5/22 Capital One will be taking over USB REI portfolio.

Anyone else get this?

Re: REI Co-op Mastercard moving to Capital One

MarkintheHV — Tue, 14 Jun 2022 12:26:34 GMT

I have been Capital One free for six months, and now I guess I am headed back....and my next CLI date is 8/15

Not a Capital One fan here.

Re: REI Co-op Mastercard moving to Capital One

slither43 — Tue, 14 Jun 2022 16:01:14 GMT

I must have missed the email but I did get a letter in the mail yesterday in regards to the change over. Can't say I'm disappointed. I started with a $5k credit line and I had balances go up on a few of my other cards and USBank balance chased me down to $500 over 2 months, which I find laughable. Scores are all 800ish now and usage is about 5% but I'm not wasting a hard pull to get it back up and they sure as heck haven't offered over the past TWO YEARS. At least I have the option of a soft pull request with CapOne. $500 limit renders this card useless at the moment

Re: REI Co-op Mastercard moving to Capital One

mrpuffrabbit — Wed, 15 Jun 2022 13:51:41 GMT

So now its just a better version of the Quicksilver, unless you value C1 perks like the travel portal??

Re: REI Co-op Mastercard moving to Capital One

Anonymous — Wed, 15 Jun 2022 14:00:26 GMT

@mrpuffrabbit wrote:
So now its just a better version of the Quicksilver, unless you value C1 perks like the travel portal??

That was my initial thought, but the rewards on this card are really only usable at REI, as compared to the pure cashback of Quicksilver.

But if you do a lot of shopping at REI and so can always use the rewards (plus of course the 5%!) this beats Quicksilver

Re: REI Co-op Mastercard moving to Capital One

JLRDC909 — Wed, 15 Jun 2022 17:46:23 GMT

I wouldn't consider C1 as hitting home runs with CLIs. Out of the 2 banks, I do think USBank is willing to work with you. C1 just seems like they read from scripts and rely on algorithms only.

Re: REI Co-op Mastercard moving to Capital One

sportsguy83 — Wed, 15 Jun 2022 19:00:07 GMT

I'm pretty indifferent about this change. Being able to redeem more frequently is a nice change as is the $50 credit towards REI classes/events.

Re: REI Co-op Mastercard moving to Capital One

artaqua403 — Thu, 16 Jun 2022 14:34:48 GMT

Not sure how similar US Bank and Elan are with limits, but they gave me a $21k limit off the bat with only one bureau pulled, whereas Cap 1 denied me a while ago and pulled all 3 bureaus. Not sure if I want to try Cap 1 again in the future.