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I have two Capital One Quicksilver cards, both are Platinum MasterCards that were upgraded, and both had pages appended to their statements this month saying that benefits will be removed on 1 September.
There is a reddit thread where other cardholders, including QS Visa holders, said that they have similar notices on their statements this month. I did a quick search and didn't see any discussion here. If there is a thread that I missed then my apologies.
For MasterCards, the removed benefits are MasterRental Coverage, Extended Warranty, Price Protection, Travel Assistance, RoadAssist and Automatic Travel Accident Insurance.
I also have a SavorOne, a WEMC, that has its statement cut the same day as one of my QS but it does NOT have a similar notice.
Hmmm, my Quicksilver World MasterCard statement is due to be cut either tomorrow or Tuesday; I'll check what it says. I'll also check my wife's Quicksilver World Elite MasterCard statement when it cuts (not sure of her statment cycle) to see if it includes such language.
The same applies to the Quick Silver One card too.
Wow! I was worried for a minute there! Thank God we're not losing Eno or Creditwise! I have no idea where we'd find another source for free Transunion Vantage 3 scores!
Update...
My wife's Quicksilver World Elite MasterCard had a statement cut Friday 14-May; there was no such language regarding a cut in benefits. I'll report back once again when the statement for my World MasterCard cuts either tomorrow or Tuesday.
This is happening across the board, it's just taking Capital One a bit longer than it took other banks to do it.
I don't think it's Cap1 just catching up. They nerfed EVERYTHING. I don't think
this will apply to QS cards that were obtained for "excellent credit" but it will apply to the other QS's and PC'd Platinum/QS1's. The loss of the rental insurance is probably the worst thing. Many people get their first cards to have for car rentals. I don't use my PC'd QS much. I have other cards with benefits so it doesn't effect me but this is horrible for builders.
@Hex wrote:I don't think it's Cap1 just catching up. They nerfed EVERYTHING. I don't think
this will apply to QS cards that were obtained for "excellent credit" but it will apply to the other QS's and PC'd Platinum/QS1's. The loss of the rental insurance is probably the worst thing. Many people get their first cards to have for car rentals. I don't use my PC'd QS much. I have other cards with benefits so it doesn't effect me but this is horrible for builders.
Credit card benefits have been slowly getting slashed since like 2018. They have been in a free fall since Disco dropped all of theirs. Benefits that Capital One doesn't drop now will likely just be dropped later on. Citi axed the benefits for most of their cards that Capital One is now dropping for theirs back in 2019. This is a broader shift in the industry as a whole.
The Quicksilver World card I got last December is my first MasterCard since, geez, maybe 1987, so the concept of Standard, World, and World Elite are still kind of new to me. Please correct me if I'm wrong, but what I *think* I'm learning from this thread is the Quicksilver Platinum (which doesn't appear on the CapitalOne web site as an available card, maybe it is what folks PC into when they upgrade from the standard CapOne Platinum card?) had benefits over and above the Standard MasterCard benefits which kinda-sorta drew some level of parity between the Standard cards and the World cards, and it is those CapOne benefits which are being reduced or eliminated. The cards which get them due to having World or World Elite status will continue with their benefits.
Did I get that right?
If it is only the Platinum Quicksilvers, at least on the MC side, that are being effected then I guess I'll have another question to ask myself...
For a while now I've had recurring charges on those two cards just to make sure they didn't get closed for inactivity solely because I liked having backup cards with the benefits since most of my other cards have already had their benefits slashed. It was really just a matter of time until Capital One caught up and maybe it is time to let these starter cards wither away.
I do find it interesting that at least one person on reddit says they got a similar notice for their QS Visa. I wonder if it is also a lower-tiered Visa, similar to the Platinum MC, but I'm not as familiar with Visa's tiers as I am with MC. Was there ever a starter CapOne Visa that could PC to a QS Visa?