I noticed Capital One has changed/switched networks on some of their cards earlier this year and I see what they did. They made the Venture ($95) a Mastercard (World Elite), which tbh makes the card better than it was as a Visa Signature. The added travel protections are very nice. Then I saw they changed the VentureOne from Mastercard (World) to Visa (both standard & Signature depending on SL). They also changed the Venture X Business to World Elite Mastercard, but I wanna focus on the first two I mentioned.
As we all know, Capital One for the most part, does not allow PC across networks. The Quicksilver which is only issued as a Visa, cannot be PC'd into a SavorOne or now, Venture. The only PC path for a standard issued Visa Quicksilver, is now to the VentureOne & Venture X (VX possible but likely rare/difficult depending on account bucket). This really makes a lot of sense when you think about the tiers of their cards.
QuicksilverOne/Student/Secured/Good/Excellent are most always considered subprime products (except the for excellent version). Capital One did not like subprime Quicksilver users PCing to their Venture and since they don't allow PC across networks, they definitely didn't want them getting a SavorOne, which they consider to be a more prime product.
They wanted Quicksilver owners to have a more "realistic PC path", hence why they switched the VentureOne to Visa and Venture to Mastercard. Allowing Quicksilver - VentureOne to be the main option when "upgrading". Obviously we all know a Quicksilver to a VentureOne is more of a downgrade, or if you really value the miles, lateral move at best. But it makes more sense, VentureOne is more of a similar product to a Quicksilver than a Venture or SavorOne.
Changing the Venture from Visa to Mastercard also prevents the upgrade to the Venture X. So if you want to go VentureOne - Venture - Venture X for the subs, you'll either need to have the excellent version Quicksilver with a high credit line and honestly get a little lucky too, or you'll have to apply for each Venture separately.
HOWEVER, they do have a Mastercard Quicksilver, but it's not ever issued as a Mastercard (exception Capital One Walmart users) and you can't request to change it from Visa to MC either. They have a Mastercard Quicksilver, simply for the customers who are tricked into "upgrading" their SavorOne or Venture, into a Quicksilver.
They are allowing subprime products to be PC'd into subprime products (Visa QuickSilver - Visa VentureOne) and are allowing the more prime products to be able to be downgraded into subprime products (Mastercard Venture - MasterCard Quicksilver)(MasterCard SavorOne - Mastercard Quicksilver). While also cutting subprime products to be PC'd into the more prime products.
If you have a standard issued Quicksilver & SavorOne, you can't PC the Quicksilver to a Venture. You cannot PC it to anything but the VentureOne. Keeping the Mastercard Quicksilver around simply for SavorOne/Venture users to "upgrade" into.
Now they'll be issuing Mastercard Quicksilvers from the Walmart contract. I read a LOT of users over on Reddit, complain and close their Walmart cards as soon as the news dropped about getting Quicksilvers. However, I think Walmart card owners should 100% hold, bc they'll be able to get the PC options to the SavorOne/Venture. The Mastercard Quicksilver is the BEST version to have. Capital One will not PC across networks bc if they could, they would be converting the Mastercard Walmart cards into VISA Quicksilvers, making it so all of the Walmart accounts will only get 1.5% or 1.25X.
Im just here to say that my Savor One seems to be one of the better earners in my line up. Its been sock drawered until recently and the deals/ offers for the things I spend on outside of the standard earning structure is the best.
@FicoMike0 wrote:I didn't follow all that.
"The Quicksilver which is only issued as a Visa..."
my quicksilver is a mcwe.
Agreed, as I understand it, CapOne issued the Visa version of the Quicksilver card many years ago and then switched exclusively to MasterCard; mine is the latter. I just checked the CapOne web site and see they are now referencing both MasterCard and Visa for new Quicksilver applications, but they don't describe how or why one might get one over the other (or if they do I missed it).
@AnonymousI just checked the rate and fee information section and all the QS cards reference only Mastercard in the rate and fee section, so do all of the Venture one and Venture cards (exception being Venture X since it's well known to be a Visa Infinite). The OP appears to be just flat out wrong with what they posted. The only part I can verify is that Venture changed back to WEMC from Visa Signature, and Venture X Business changed from WEMC to Visa Infinite. In general almost every C1 card except for Venture X, SavorOne and the recently discontinued Savor have been issued in both MC and Visa at different times in their history. Because of that it's hard to make absolute statements about who can PC to what. The only hard rule with C1 is that whatever network your existing card is on, you can't PC across network. What people sometimes forget is that it doesn't matter so much what network a given card is currently offered on for new applciations. As long as it was offered on that network at one time you might get the option to PC to it.
Capital 1 blows big time. Waste of time for CC's other than to churn and burn.
@ElvisCaprice, that was a rather inauspicious post for such a new member. Like it or don't, believe it or not, CapOne not only has its uses for the credit challenged, but they also have some pretty nice cards.
I just call it like I see it. Doesn't take a math genius to see how Cap1 is underwhelming in CC rewards department. Take the initial offering and move on. Do they even have a reward feature that you find more attractive than an alternative CC? Besides the initial offerings.
@Horseshoez wrote:@ElvisCaprice, that was a rather inauspicious post for such a new member. Like it or don't, believe it or not, CapOne not only has its uses for the credit challenged, but they also have some pretty nice cards.