Capital One Quicksilver One Mastercard Upgrade to World Elite Mastercard?

[MattInBham1979]

Most people are shocked when they learn this, but the fees that a merchant pays on a given transaction for the privilege of accepting payment via a VISA or Mastercard credit card is based on the tier-level of the card.

It actually costs the merchant more to accept a high tier rewards card than to accept a no-frills credit card.  This is actually spelled out in the interchange reimbursement rate guides on VISA and Mastercard's merchant websites.

For Mastercard, for example, this is spelled out in this document:

http://www.mastercard.com/us/merchant/pdf/MasterCard_Interchange_Rates_and_Criteria.pdf

Note that the rates reimbursed to the issuing bank are higher for the higher tier cards, especially Mastercard World Elite.

It seems that Citibank and Capital One (and perhaps others) are trying to identify cards of transactors -- maybe especially the ones who will run decent transaction volume through the cards but might not necessarily take advantage of the extra perks offered by the higher tiers -- in order to drive up the "swipe income" from those customers, by effectively raising the rates the merchant has to their merchant acquiring bank (and, in turn, to the card issuing bank).

[juggalo9er]

for some reason this made me think of my capitol one.....applied for cli...approved 1000

[michaels1978]

The transactor theory makes a lot of sense because generally speaking I was using that card for everything. I generally had 100+transactions/month. My card had stopped swiping so I was waiting for the new World Elite card to come (as early on I was told a new card was coming) but when I called a few days ago I was told what another member stated that no new card was being issued. I had to order a new card since mine won't swipe so we'll see if it comes in the new design with World Elite on it.

I tried for CLI with the card but got the "limit was changed recently" response. CapOne seems to always have a reason, but I can't complain as I'm grateful for the 3K limit I have now. Someone had mentioned emailing the executive office? Could you post the email address for that? Now that I've hit my one year anniv with the card and thousands charged on it I'm curious to see if they can do something.

When I get my replacement card I'll let you guys know if the design changed. Thanks for all the input!

[RCFL]

I got my QS1 WEMC from CapOne. It is dark brown-ish with the silver MasterCard logo. The logo looked like it was being glued on. I like the look of it though.

[Anonymous]

i have a question and not sure where to post this.

I had a Capitol One Cash Rewards (green card) upgraded to QuickSilverOne

and now my CapitolOne Platinum appearently was upgraded to the better looking QuickSilver

and not the rugy *** looking QuickSilver One.

Does this mean now i can ask for a visa ? It has a red/orange logo mastercard but not the Visa Signature

I rather have the cool looking silver logo or the Visa Signature instead of this red/orange ball. 

 

[Anonymous]

Cap one sent me a notice recently that my plat mc with no af is going to be upgraded to a qs with rewards with no af. This is strange because I can't find any evidence of a qs mc with no af. They do not indicate whether it's going to be a visa or mc, but you have to assume mc because they do not switch networks, right?

Too bad it will remain sock drawered with the passport unless the cl is increased to be on par with my other 20k and 30k cards that have earned their swipes. For awile now, the only spend on the cap one is a gym membership for life support.

[Anonymous]

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@Anonymous wrote:
Cap one sent me a notice recently that my plat mc with no af is going to be upgraded to a qs with rewards with no af. This is strange because I can't find any evidence of a qs mc with no af. They do not indicate whether it's going to be a visa or mc, but you have to assume mc because they do not switch networks, right?

Too bad it will remain sock drawered with the passport unless the cl is increased to be on par with my other 20k and 30k cards that have earned their swipes. For awile now, the only spend on the cap one is a gym membership for life support.

---

While you cannot directly apply to that card, it does exist. Will still be a MC.

[TiggerDat]

I have two MCs from them and one Visa Siggy.  I will admit I use the Visa Siggy more than the MCs.  I have a limit on one of the MCs that qualify for World status, but they will not change it.  Which I find odd, since I have a Siggy card with them.  I think I will laugh when they convert my lowest limit card with them to a World of any nature and the other still stays the same!

[Pigeyex]

After reading this thread today, I was curious myself and so I checked my account online.  I THOUGHT I had the CapOne Quicksilver card, but it showed online as Platinum.  So I did the online chat thing, and they said the CARD was a platinum, but that the AWARDS that I had were the Quicksilver rewards???

Very confusing.

I confirmed that I had the no AF that I thought I had (I do), and confirmed my APR (17.99 currently; it's variable), and asked if there was any card upgrade that they offer that offered more than 1% cash back.  Amex Blue recently gave me their everyday card, with 3% cash back on groceries.  Chat agent said the MOST any of their cards offered was 2% cash back, and that I didn't qualify for that card anyway, which they said was a Sparks business card.

So I guess I'll be putting most of my everyday expenses thru the Amex Blue now.

Pigeye