Capital One Upgrade to World Elite but limit did not change under 5K

[user979797]

I got a letter in the mail today advising me that Capital One is upgrading my Quicksilver to a World Elite MasterCard "for being such a great customer". Capital one has refused to increase the limit on my Quicksilver card for 2 years now, even though they continue to increase the limit on my Savor one and do not give me a income insufficient reason when I ask for a increase.

The confusing part is the world elite mastercard has a minimum credit limit of 5,000 and my quicksilver has been stuck at 3,100 for years, and it's my smallest limit card. I was hoping to reach out and see if anyone else has experienced this with Capital One or knows...

Can you have a world elite mastercard with Capital one and the limit be under 5K?

Has anyone been upgraded and then had their limit increased to at least 5K afterwards?

Thank you so much for any help you amazing people can give me. Take care.

[Anonymalous]

---

@user979797 wrote:

I got a letter in the mail today advising me that Capital One is upgrading my Quicksilver to a World Elite MasterCard "for being such a great customer". Capital one has refused to increase the limit on my Quicksilver card for 2 years now, even though they continue to increase the limit on my Savor one and do not give me a income insufficient reason when I ask for a increase.

The confusing part is the world elite mastercard has a minimum credit limit of 5,000 and my quicksilver has been stuck at 3,100 for years, and it's my smallest limit card. I was hoping to reach out and see if anyone else has experienced this with Capital One or knows...

Can you have a world elite mastercard with Capital one and the limit be under 5K?

Has anyone been upgraded and then had their limit increased to at least 5K afterwards?

Thank you so much for any help you amazing people can give me. Take care.

---

You want this thread:

https://ficoforums.myfico.com/t5/Credit-Cards/CapitalOne-upgraded-to-World-Elite-Mastercard/td-p/654...

Short answer: Everybody got the same letter. I got the same letter and my credit limit is less than 1/10th yours. No, you won't get a CLI. The WEMC does not have a $5,000 minimum. It might have once, ages ago, but not for a long time. It's probably just an attempt by C1 to earn more via swipe fees. You might get some of the WEMC benefits, but otherwise your card won't change.

[SUPERSQUID]

I got the same letter and my QS only has a 2k limit.

My savor one is also a wemc and the cl is 3100.

[OmarGB9]

I think you're thinking of a Visa Signature which needs a $5k minimum limit, but even that is bank dependent. It's not a rule set in stone. Even if that was the case with the WEMC, you won't be getting a CLI, sorry. Definitely read through the thread linked above. Unfortunately there's nothing special about this upgrade. 

[Aim_High]

@Anonymalousis correct; sometimes, these "upgrades" are all about the added swipe fees the lender earns than about adding value to the consumer. 

[Sub16610]

I received the same letter today.  Opened my QS in March, 2021, and stuck at $3k SL.

[AzCreditGuy]

I have an open thread about Cap 1. I also like many others got the waste of paper to tell me I got upgraded as well, but I would keep my CL and rate. I had to look to see see what the Elite offers," World Elite Mastercard is the highest benefits tier that Mastercard has to offer. Eligible cardholders also get to enjoy perks such as a multitude of discounts with partnered merchants and up to $1,000 in cell phone insurance, as a result" 

My Wells cc does the same thing, if Cap1 saw me as a good customer, they would raise my CLI and lower my rate down. Anyways Ive had my Cap1 for 7yrs 4 months and have had very low CLI, I am at $7k now. My goal is just to get a $10k CL. With Cap 1 I was getting the CC is being used too little or too much, when I would apply for a CLI. I've been using my Cap 1 for my business and paying off the balances before the interest charges hit and paying down around $1.5k bi weekly on the card for about 2 months now. Decided to request a CLI and I got this

I canceled the request and will pay down lump sums of $3.5k now for a month or two and see they offer me a $3.5k CLI. I consinder the card a burner, I am just using for credit history and CL for Uti.

[104848]

that paper just gets balled up and thrown in the trash immediately... wouldnt it had been simpler to just place a message when you log in

should only mail physical cards or updates about a lower interest rate or higher credit limit in writing

[Aim_High]

---

@AzCreditGuy wrote:

I had to look to see see what the Elite offers," World Elite Mastercard is the highest benefits tier that Mastercard has to offer. Eligible cardholders also get to enjoy perks such as a multitude of discounts with partnered merchants and up to $1,000 in cell phone insurance, as a result" 

---

Yes, the World Elite is the highest tier offered by Mastercard, but the problem with this and other Mastercard/Visa's is that MC/VS doesn't mandate which benefits (if *any*) that the lender adds when they "upgrade" a card. Consequently, an "upgrade" like this often means little if anything to added benefits for the consumer.  There are cards that offer great added value by the upgraded status, but they often charge annual fees (such as my Chase Sapphire Reserve as a Visa Infinite.)  No AF cards (such as my AOD FCU Visa Signature) often bypass the benefits but get added swipe fees.  The only way to find out which benefits you get is by checking with that specific lender.  

[Anonymalous]

@Aim_High wrote:

---

Yes, the World Elite is the highest tier offered by Mastercard, but the problem with this and other Mastercard/Visa's is that MC/VS doesn't mandate which benefits (if *any*) that the lender adds when they "upgrade" a card. Consequently, an "upgrade" like this often means little if anything to added benefits for the consumer.  There are cards that offer great added value by the upgraded status, but they often charge annual fees (such as my Chase Sapphire Reserve as a Visa Infinite.)  No AF cards (such as my AOD FCU Visa Signature) often bypass the benefits but get added swipe fees.  The only way to find out which benefits you get is by checking with that specific lender.  

Capital One does have their VISA/MC benefit guides posted:

https://www.capitalone.com/credit-cards/benefits-guide/

The C1 WEMC includes purchase assurance, price protection, extended warranty, digital offers, concierge services, ID theft protection, identity fraud reimbursement, travel assistance, rental coverage (secondary), and travel accident/baggage/cancellation insurance. No cell phone.