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@galahad15 wrote:
@Anonymous wrote:I was able to apply for this just now by following an "Apply Now" link on Credit Karma. The page it led me to on Capital One's site had a picture of a WE MC instead of the usual Visa Signature picture, and among the card's features was listed "Includes World Elite MasterCard Benefits." I applied for it, and I was instantly approved with a $10,000 limit and 18.24% APR. I'm a bit surprised I didn't get the lowest APR advertised (13.24%), but I never carry a balance, so it's not a big deal.
Congrats! J/c, do you mind if I inquire what your scores were when you applied please, if you hopefully wouldn't mind sharing more info?
My Experian FICO 08 score was 793. I was hoping to get it back into the 800s, but so much for that.
@kdm31091 wrote:
@Anonymous wrote:
@SunriseEarth wrote:I seem to recall a member posting a few weeks ago looking for a MasterCard with no AF, no FTF, and WEMC benefits if possible. Hopefully he sees this thread. IIRC, I think he wanted to use MC for their published forex rates.
It's a bit off-topic, but there's been a lot of discussion in this thread as to whether Capital One is a subprime lender or not. IMHO, I believe Cap One is a lender with products ranging from subprime to prime. Their "subprime" is certainly better than others (FP, Credit One, etc), although their "prime" isn't always as good as others. But then again, I think we could pick holes into any of the so-called "prime" lenders and their products. I think it's more important to consider if/how a product meets your needs. if so, great. If not, there are plenty of CCs in the sea.
Agreed! Whenever I apply for a card, the only question myself is "will I be using this card 20 years from now?" If I am absolutely sure if I will never close the card I apply for the I will definitely try to get it I don't mind if it is considered subprime like many are saying capital one is. The real question that needs to be asked is "does this card fit my needs"
Agree you should evaluate purpose before applying because it's very easy to end up with redundant cards that never get used.
That said 20 years is a very long time in the credit world. There's almost no card on the market today that existed 20 years ago. A better frame of reference is a year or two because benefits change constantly. Since the hard pull is there for 2 years, if you can justify the card for at least that long, you're probably in good shape.
Wow I am honestly shocked to hear you say that. I figured you would say at least 5 years or more. But I agree 100000000000000%!
Congrats to those of you who were approved for the WEMC card(s) through the link(s) provided in this topic. Boy if my credit profile could handle another Cap 1 account, I'd be all over this like flies on doo doo. I'd combine my Cap 1 cards into a WEMC & drop the mic.
Like most card companies, Capital One caters to a wide range of credit scores. If your credit score will not qualify for WEMC, they will offer you one that has less bells and whistles. All my credit scores are around 800, and I have a capital one card sig visa, and I do not consider it sub-prime at all. There are actually very few cards that really are Super Prime cards and they all carry a huge AF and really are not meant for us mere mortals. Because Capital One chooses to also offer a card intended for rebuilders that looks pretty much the same as their prime cards it seems to offend some of the credit snobs....like they think using that card might make people think they are sub-prime borrowers. Get over yourselves.
@Anonymous wrote:Capital One is and always will be a sub-prime lender in my opinion.
Just because this card has a polished MasterCard logo on it, doesn't mean it's up to the level of the prestigous cards, or even the level of the prime cards.
For all we know, this card could be like the Citi cards where many have the WEMC logo on them, but only 1/2 of the benefits offered on a typical WEMC. For example, I doubt Capital One will have NPSL on any of their cards. I also doubt they'll give away many other benefits offered on a typical WEMC, especially since there's no annual fee.
The introductory rate on their cards are weak too (including this one)... This one has 9 months of APR and balance transfer at 0%, where most other top tier cards have up to twice as long of an introductory period, plus the $100 signup bonus is weak, along with the straight 1.5% cash back.
I don't see any way to earn more than 1.5% cash back by redeeming through travel partners or anything like that.
I guess it's a great card for those who are still building their credit who can't qualify for a real WEMC, don't want real benefits, don't want a long introductory 0% purchase period, and don't want huge sign up bonuses.
I don't want to sound negative, but this card really isn't a big deal. Just get the regular QS if you want it, and don't jump through hoops.
I completely disagree with you.
For one thing, people that would use the benefits of a WEMC generally would not care about intro interst rates.
We pay our bills off monthly.
To each their own, but Cap One is clearly trying to get people with excellent credit with 2% back, etc.
Although they will have business in the sub-prime market, they also have plenty of other business.
When I call customer service, I get a rep 200 miles away immediately.
I also doubt that the Cap One WEMC accounts have any less benefits than any other WEMC accounts would - MC would not stand for it.
I have a 25k Venture World MasterCard and I do not feel it is sub prime at all.
I just got a car loan through Cap One for 2.49% for 72 months with no money down - what part of that is sub prime???
DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!
@Anonymous wrote:
@CreditCuriousity wrote:
@Anonymous wrote:Capital One is and always will be a sub-prime lender in my opinion.
Just because this card has a polished MasterCard logo on it, doesn't mean it's up to the level of the prestigous cards, or even the level of the prime cards.
For all we know, this card could be like the Citi cards where many have the WEMC logo on them, but only 1/2 of the benefits offered on a typical WEMC. For example, I doubt Capital One will have NPSL on any of their cards. I also doubt they'll give away many other benefits offered on a typical WEMC, especially since there's no annual fee.
The introductory rate on their cards are weak too (including this one)... This one has 9 months of APR and balance transfer at 0%, where most other top tier cards have up to twice as long of an introductory period, plus the $100 signup bonus is weak, along with the straight 1.5% cash back.
I don't see any way to earn more than 1.5% cash back by redeeming through travel partners or anything like that.
I guess it's a great card for those who are still building their credit who can't qualify for a real WEMC, don't want real benefits, don't want a long introductory 0% purchase period, and don't want huge sign up bonuses.
I don't want to sound negative, but this card really isn't a big deal. Just get the regular QS if you want it, and don't jump through hoops.
See bolded.. The regular Visa and/or WMC or WEMC or whatever without annual fee with a 1.5% no hassle reward structure and no minimum is hard to beat. Don't forget Cap1 Doesn't have any FTF either where-as Citi DC along with say Fidelity and other 2% cards do have a FTF. One shoe size doesn't fit all. I would personally choose to use another card out of country, but for many the QS is a great cash back card. Also many people have 50k CL's without combining limits which I would hardly say is "sub-prime"
I am no lover of Cap1 either other than not having really to worry about AA of any sort with them although obviously it could happen. I do have one card with them for many reasons though.
Actually it's very easy to beat... 2% back cards (Citi Double Cash), or cards with 1.5% back, but that you can transfer to put a bonus on those rewards (Chase Freedom Unlimited) are much better for the average cardholder.
There's no such thing as a "hassle" regarding redeeming rewards... Waiting four weeks for your rewards isn't a killer obstacle. Not really sure why anyone would want to redeem $3 in rewards anyways for example.
I agree with the no FTF thing, but many cards don't have that either, and the number is only increasing.
I don't think I've ever seen anyone here with a 50k limit on their Capital One card... In fact, most people I've seen who talk about Capital One complain that their card hasn't grown with them, unlike their other cards.
I get my account credits in 2 days. 2% in 2 days. Period.
I grew to $50k avail between two cards in 2 years.
I have not paid a penny in interest and have earned well over $2k in cash back.
Do you have a Cap One card or account?
DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!
@Anonymous wrote:
@kdm31091 wrote:
@Anonymous wrote:Capital One is and always will be a sub-prime lender in my opinion.
Just because this card has a polished MasterCard logo on it, doesn't mean it's up to the level of the prestigous cards, or even the level of the prime cards.
For all we know, this card could be like the Citi cards where many have the WEMC logo on them, but only 1/2 of the benefits offered on a typical WEMC. For example, I doubt Capital One will have NPSL on any of their cards. I also doubt they'll give away many other benefits offered on a typical WEMC, especially since there's no annual fee.
The introductory rate on their cards are weak too (including this one)... This one has 9 months of APR and balance transfer at 0%, where most other top tier cards have up to twice as long of an introductory period, plus the $100 signup bonus is weak, along with the straight 1.5% cash back.
I don't see any way to earn more than 1.5% cash back by redeeming through travel partners or anything like that.
I guess it's a great card for those who are still building their credit who can't qualify for a real WEMC, don't want real benefits, don't want a long introductory 0% purchase period, and don't want huge sign up bonuses.
I don't want to sound negative, but this card really isn't a big deal. Just get the regular QS if you want it, and don't jump through hoops.
What hoops? This application is the same thing as applying for the regular QS. No extra work.
I don't love Capital One and I think people spend a lot of time trying to get them to be something they are not -- they try to get the APR down to 12%, they try to get their $300 starter card up to 20k, etc -- but they aren't a bad lender. They just have their pros, cons, and limitations like any other lender. Like I said, WEMC isn't something I personally think is that important, and I wouldn't use 3 pulls on this, but if you otherwise want a QS, there's nothing wrong with applying for the WEMC instead of the Visa.
If you have to dig for a card app, you're jumping through hoops.
They're not a bad lender like First Premier, but they aren't prime either. Their best card is basically a 2% back card, but it has a $59 annual fee with no travel benefits compared to cards like the Chase Sapphire Preferred which has a slightly higher annual fee, but a lot of benefits.
Let me know when they start handing out cards that compete with the CSP, Citi Prestige, AA Advantage cards, and AMEX PRG, and then I'll consider them a prime lender.
No Travel Benefits?
How about my Venture World Master Card benefits with no FTF and 2% back in 2 days.
Please show me a better card for travel with a decent credit limit for less than $59 per year.
Thanks.
DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!
Wow...I needed a QS Mastercard badly, so I was forced to apply for the QS1 a few days ago. Now I find out about this link. Talk about a day late and a dollar short. Guess I have to wait six months to have a go at this.
CO is pretty decent on posting there CB/Travel CB when transactions post no need to wait for statement cut or min redemption.
Subprime, lol other CCC have similar products and cater to subprime market, this includes Amex, Chase and Barclays and even Citi has lowered their bar.