Capital One WEMC Discontinued?

[Anonymous]

So recently I tried contacting the CEO of Capital One about my terrible credit limit ($2,650). Surprisingly, I got contacted by the EO. I talked for a few days and over that time a few things happened. I asked about the World Elite MasterCard (and my limit). When I got back in touch, they offered a manual review for a credit limit increase request of $5,000. I chose $5,000 because according to the EO's sources it was all that I needed for the World MasterCard status for my Quicksilver. During the same call I was informed that the World Elite MasterCard (for the Quicksilver?) was simply a test product for a short period of time, and that it is now discontinued. I was denied my increase (even after claiming I'd close the account), and was told that the WEMC status isn't possible to obtain. So the highest degree is simply the World MasterCard, for which at least one main criteria is having a credit limit above $5,000. Just figured I'd throw this information out there.  I can now personally say that Capital One sucks and I regret getting this card (just as my friends warned me).

[creditguy]

So Capital One sucks because they would not upgrade you to a card that doesn't exist? Sorry you were denied a CLI but they must have their reasons. Also sorry you have a terrible limit of $2650 but I doubt you'll receive much sympathy from people who are stuck at $500 limits. Bottom line here is it sounds like you don't care for cap one, so how about just close it and move on. I'm sure there is a more suitable card for you out there, good luck.

[Anonymous]

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@creditguy wrote:
So Capital One sucks because they would not upgrade you to a card that doesn't exist? Sorry you were denied a CLI but they must have their reasons. Also sorry you have a terrible limit of $2650 but I doubt you'll receive much sympathy from people who are stuck at $500 limits. Bottom line here is it sounds like you don't care for cap one, so how about just close it and move on. I'm sure there is a more suitable card for you out there, good luck.

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The bottom line is that I'm relaying the information that the WEMC supposedly doesn't exist. Take from it what you will. Just worth knowing who you're getting into bed with. A warning of sorts for others who expect Capital One to not be stingy. The bottom line is that I'll just stick to my Amex and Discover for the moment, and advise others to do the same. Capital One really is as bad as people had told me, and I feel it's worth letting others know before they apply for a garbage card that gets them nowhere. 

[creditguy]

Calling a quicksilver a garbage card that gets someone nowhere is a pretty broad statement. It's a decent card that has got plenty of people somewhere. Like I said, sorry it's left you with a less than enthusiastic feeling but everyone is different. I don't recall the WEMC ever being a promised option. There are many threads where people have mentioned it was just a trial run and not an official option. The WEMC is overrated anyway IMO and is nothing more than eye candy. The Visa Signature QS is a better option if you were interested in addition card benefits.

[Anonymous]

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@creditguy wrote:
Calling a quicksilver a garbage card that gets someone nowhere is a pretty broad statement. It's a decent card that has got plenty of people somewhere. Like I said, sorry it's left you with a less than enthusiastic feeling but everyone is different. I don't recall the WEMC ever being a promised option. There are many threads where people have mentioned it was just a trial run and not an official option. The WEMC is overrated anyway IMO and is nothing more than eye candy. The Visa Signature QS is a better option if you were interested in addition card benefits.

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I've already got a Visa Signature in my sights (Chase Sapphire Preferred). Have you got any good recommendations for a better MasterCard? I was actualy considering the Citi Double Cash, but I've only read bad things about that card on these forums. I'd like to jump ship soon so I could throw this Quicksilver in the sock drawer and be on with it.  

[creditguy]

I was going to say The Citi double cash because it has been issued as a WEMC as of late, the only downside I have really heard is the stingy SL's other than that it seems decent. There aren't a lot of WEMC's out there, Barclays has a few and Cap One buypower offers one but it's SL's suck and the card is not that great. The CSP your eyeing is an awesome card, I'd personally go for that and The Citi DC.

[Anonymous]

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@creditguy wrote:
I was going to say The Citi double cash because it has been issued as a WEMC as of late, the only downside I have really heard is the stingy SL's other than that it seems decent. There aren't a lot of WEMC's out there, Barclays has a few and Cap One buypower offers one but it's SL's suck and the card is not that great. The CSP your eyeing is an awesome card, I'd personally go for that and The Citi DC.

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Glad to hear it. Thanks for the advice.

[creditguy]

No problem, good luck with your apps.

[core]

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@Anonymous wrote:

I was actualy considering the Citi Double Cash, but I've only read bad things about that card on these forums.

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Aside from a potentially low starting limit, there's nothing bad about the Citi DC at all.  I would be one sad pony if I lost my account!  The people hating on the DC usually fall into one of two camps:  1)  Those that just don't like doing business with Citi for their own reasons.  2)  Those that thing it's "too much trouble" to redeem points in $25 increments, and/or too much trouble to make one payment on the statement date rather than the due date.  I don't see how making the same lone payment on a different date is "micromanaging" the account, but that's just me.

Assuming your charges are evenly distributed throughout the month, the average wait time for your points will be 15 days.  I really don't think that's out of hand.  At today's savings/bond/etc interest rates, what difference is 15 days going to make?  You get your points on the DC just as fast as Blispay.  You just have to master that whole 'paying your balance' thing.  It's not rocket science.

By the way, Citi will let you redeem your accrued points at any time during the statement cycle if you call in.  They do charge a fee for this, and it's not chump change.  I don't remember the exact amount but I do remember almost falling out of my chair when they told me.  The fee might be based on percentage though, and since I had $1k points racked up that particular day, maybe it just seemed like a large fee to me because of the raw dollar amount.

[Anonymous]

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@core wrote:

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@Anonymous wrote:

I was actualy considering the Citi Double Cash, but I've only read bad things about that card on these forums.

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Aside from a potentially low starting limit, there's nothing bad about the Citi DC at all.  I would be one sad pony if I lost my account!  The people hating on the DC usually fall into one of two camps:  1)  Those that just don't like doing business with Citi for their own reasons.  2)  Those that thing it's "too much trouble" to redeem points in $25 increments, and/or too much trouble to make one payment on the statement date rather than the due date.  I don't see how making the same lone payment on a different date is "micromanaging" the account, but that's just me.

Assuming your charges are evenly distributed throughout the month, the average wait time for your points will be 15 days.  I really don't think that's out of hand.  At today's savings/bond/etc interest rates, what difference is 15 days going to make?  You get your points on the DC just as fast as Blispay.  You just have to master that whole 'paying your balance' thing.  It's not rocket science.

By the way, Citi will let you redeem your accrued points at any time during the statement cycle if you call in.  They do charge a fee for this, and it's not chump change.  I don't remember the exact amount but I do remember almost falling out of my chair when they told me.  The fee might be based on percentage though, and since I had $1k points racked up that particular day, maybe it just seemed like a large fee to me because of the raw dollar amount.

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I always pay my cards off in full the moment my statements are given to me. I don't mind waiting any amount of time for the points, just as long as I recieve them. Being honest, I just enjoy seeing it all rack up. One question, though. What do you mean by $25 increments? I appreciate the advice.