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Are all new Quicksilver approvals WMC?

zuma1
Contributor

Are all new Quicksilver approvals WMC?

I had an unsecured Plat that was PC'd to a QS and it was basically just a rewards upgrade and stayed Plat MC. I also applied and was approved for a new QS so now I have 2! I've seen on here people say a new QS acct can come in all MC tiers, then others that swear that that's only upgrades and new are standard WMC. Is this a whole YMMV situation or any truth to the standards?

Message 1 of 7
6 REPLIES 6
HeavenOhio
Community Leader
Senior Contributor

Re: Are all new Quicksilver approvals WMC?

I can't directly answer the question about a possible Platinum card. But I'd bet that anything that used to be a World Mastercard is now probably a World Elite Mastercard. My World card quietly morphed into a World Elite card recently. There weren't any notifications, and there wasn't a replacement card. The only changes I saw were what appeared in the online interface.

Message 2 of 7
DebtStinks
Established Contributor

Re: Are all new Quicksilver approvals WMC?

@HeavenOhio mine did the same thing about 18 months ago. It started off as Platinum, PC'd to Quicksilver (no AF version), then without notice or anything I recevied 2 upgrades to WMC and then WEMC.

 

No rhyme or reason IMO, just happened. More swipe fees to Cap1 is my guess.

PenFed Visa Signature $35000 (Opened 6/20) - NFCU More Rewards AMEX (Opened 1/19) $17000 - NFCU Platinum $15000 (Opened 1/21) - Capital One World Elite MC $11200 (Opened 11/17) - TTCU Platinum Visa $10000 (Opened 10/18) - Uber Visa $5000 (Opened 1/19) - Target Store Card $2000 (Opened 10/18) - Floor & Decor Store Card $36500 (Opened 10/18)
Total CL - $131700

CH7 BK Filed 8/1/17 Discharged 11/7/17

Scores as of 2/18/21:




Inquiries Last 12 Months:
Message 3 of 7
blindambition
Community Leader
Senior Contributor

Re: Are all new Quicksilver approvals WMC?

I'm sure it's still YMMV, but more lenders are in favor of higher tiers, for their swipe fees. Most not really offering more benefit to the consumer.

Most consumers don't even utilize most benefits their cards have.

Message 4 of 7
HeavenOhio
Community Leader
Senior Contributor

Re: Are all new Quicksilver approvals WMC?

@DebtStinks, because of the age of my card, I'm sure it started off as something less than a World Mastercard, which likely didn't exist at the time I acquired it. I don't recall when that upgrade may have occurred. I do recall that one of my Capital One cards was a "Gold" card at one point. Smiley Happy

 

In contrast, another of my Capital One cards was upgraded to Visa Signature a couple of years ago. They made a big deal about it, sending me an e-mail and a new card. That happened a couple weeks after a CLI.

 

My third Capital One card is a 10K Savor (PC'ed, grandfathered, no fee) that's still a Platinum Mastercard.

Message 5 of 7
Ficoproblems247
Valued Contributor

Re: Are all new Quicksilver approvals WMC?

https://ficoforums.myfico.com/t5/Credit-Card-Approvals/Surprise-CLI-from-Capital-One/m-p/6186352#M71...

 

message number 15 in this thread from a couple of days ago has someone talking about just being approved for a WEMC QS card. That may be the new standard now?




FICO 8 Sep '21 EX 746 EQ 748 TU 741
Message 6 of 7
desertrain783
Established Member

Re: Are all new Quicksilver approvals WMC?

hello everyone it was me who posted it. little back ground im in the process of credit rebuild i have a cap1 secured card and then 7 months later i got a email preapproval for cap1 QS i applied got the card with SL $500. when the card arrived i checked the back it says WORLD Elite MC even had the WEMC Pamphlet in the mail with the card with all the benefits of WEMC in details what is included. i was surprised as i have a very thin credit profile with 1 CO from 2014 and 1 Collection from 2018 on my credit reports. So im not sure what made them give me this Tier 3 status even thou the card SL is $500 lol i don't know if its a bucketed card or can i improve for higher limits later down the line as it ages.

Message 7 of 7
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