@NoMoreE46 wrote:
Aren't all of the Venture suite cards on Visa?
Venture and VX are Visa, while VentureOne is MC. IIRC, at one time 10+ years ago V1 was Visa, and my understanding is only some really old cards and downgrades from Venture are. New approvals are WEMC and there's a significant number that are platinum as a result of a PC from QS1.
@Anonymous wrote:
@GZG wrote:
It was my understanding they like to issue these upgrades because they can charge more merchant fees for this type of MC as opposed to the platinum version.
Basically this, a higher swipe for a higher-tier card and very little use of the benefts, so really all upside for the issuer (this is how $500 WEMC became a thing). And if a benefit such as cell phone protection starts costing them too much, no problem, they can just opt-out of that benefit, while still keeping the enhanced swipe fee.
I assume there must be SOME restraining force somewhere fraud maybe? perhaps they have some way to exploit those benefits so they only want to give them to accounts they think are legitimate?, otherwise all issuers would make all cards premium, although it sounds like that is almost happening with some.
The justification behind the higher swipe fee is that premium cards belong to premium customers who are going to spend more. I find this weird, because it's not like merchant agreements allow them to discriminate between the types of MC/Visas they are allowed to accept right? Merchants can't say "i'll accept Visa, but only debit visa and visa sig, not Visa Infinite" right? With the complete breaking of this model, I would think merchants would try to rebel. "Why I am paying top fees for a group of cards with often $500 CL and almost no MC benefits??" Of course, most merchants who aren't on credit card forums might not realize that standards have changed so drastically.
personally, the fact that they didn't go out of their way to send out new cards is just a giant 'we're doing this for our benefit, not yours, you're not even worth shipping out a card it took us 50 cents to produce and 50 cents to ship'
@GZG wrote:personally, the fact that they didn't go out of their way to send out new cards is just a giant 'we're doing this for our benefit, not yours, you're not even worth shipping out a card it took us 50 cents to produce and 50 cents to ship'
got my replacement card today, and it seems somebody had it out for me and proceeded to use about 7x the amount of glue needed to attach the card to the paper
funny, but the card is much nicer looking and less rebuilding looking to carry around with it being a WEMC and having the silver MC logo
I had been notified that my Quicksilver Student card was upgraded to WEMC on Monday. It's interesting timing considering I had requested a CLI on it since it's been 11 months since I was given a paltry $300 SL... CLI was denied but I was approved for a SavorOne with a $10k CL the day after being denied the CLI. Very interesting business decisions going on over at C1.
Considering this high SL (over 50% of my reported AGI) on my new SavorOne but no CLI for the QS Student, I'd bet with everyone elses' idea that this is a strategy to get higher swipe fees in addition to making more money on balance-carrying accounts.
I'm being completely truthful about that. Never exceeded the CL on the savor, and hasn't been used for most of the months I've had it. Only activity is UberOne subscription on that card. It feels incredibly irresponsible to hand out a 10K limit to a college student with exactly 11 months of credit history. Not complaining though! As a consideration though, I believe C1 uses demand deposit balances in underwriting. I could've sworn there was an authorization or notice, etc. during the app process. My checking acc with C1 is sizable, and large transactions are frequent on debit. Another consideration is that I was an authorized user on a card since a few months after I was born. Still trying to get my HTML signature updated here 
DPs:
Reported AGI - (edited: between 12k and 15k)
First card (QS Student) in Aug '22.
EX8: 743 as of today.
@cyberbuilder wrote:I'm being completely truthful about that. Never exceeded the CL on the savor, and hasn't been used for most of the months I've had it. Only activity is UberOne subscription on that card. It feels incredibly irresponsible to hand out a 10K limit to a college student with exactly 11 months of credit history. Not complaining though! As a consideration though, I believe C1 uses demand deposit balances in underwriting. I could've sworn there was an authorization or notice, etc. during the app process. My checking acc with C1 is sizable, and large transactions are frequent on debit. Another consideration is that I was an authorized user on a card since a few months after I was born. Still trying to get my HTML signature updated here
DPs:
Reported AGI - (edited: between 12k and 15k)
First card (QS Student) in Aug '22.
EX8: 743 as of today.
I wasn't questioning whether or not you were being honest.
I was just genuinely curious about your data points.
@NoMoreE46 wrote:
@Zoostation1 wrote:I'm curious as to how they have determined when and which cards to upgrade to WEMC. I've yet to see any V1 cards get upgraded to WEMC even though new approvals are often issued as WEMC.
Regarding S1 upgrades I agree and there's at least one DP of someone with a card that was still plat upgrading to S1 (it became WEMC upon the PC).
Aren't all of the Venture suite cards on Visa?
IME, I have a MC-based Venture.
