REI Co-op Mastercard moving to Capital One

[CreditJim]

I just had an email that on August 5, the REI Co-op Mastercard is moving from US Bank to Capital One.

Personally, I'm happy with this news as US Bank has always been so stingey with credit limits.

More info available here: https://reimastercard.capitalone.com/

[Anonymous]

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@CreditJim wrote:

I just had an email that on August 5, the REI Co-op Mastercard is moving from US Bank to Capital One.

Personally, I'm happy with this news as US Bank has always been so stingey with credit limits.

More info available here: https://reimastercard.capitalone.com/

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Well, not always.   I got my US Bank REI card 2 years ago with a CL of $25K.   Doubt that Cap One would be much better!

The rewards program slightly changes, but not in an important way, given the value prop of the card is only for purchases at REI getting 5%.

So the "everywhere else" going from 1% to 1.5% isn't a "Wow", and the fact the mobile payment bonus goes away (in effect from 2% to 1.5%) isn't terrible.

And no more check cash outs it appears, so rewards will be harder to redeem.

[mau471]

It looks like the REI Mastercard is moving from US Bank to Capital one on 8/5 of this year, just got the email. Looks like the biggest change is instead of 2% cashback on mobile wallet transactions and 1% other through other methods its going to 1.5% no matter how you pay except REI still at 5% and you will be able to redeem rewards monthly instead of yearly.

https://reimastercard.capitalone.com

[OmarGB9]

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@CreditJim wrote:

I just had an email that on August 5, the REI Co-op Mastercard is moving from US Bank to Capital One.

Personally, I'm happy with this news as US Bank has always been so stingey with credit limits.

More info available here: https://reimastercard.capitalone.com/

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I have bad news for you. Capital One is just as stingy with CLIs, if not more.

[NoMoreE46]

Thanks for the news @CreditJim

[CreditJim]

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@OmarGB9 wrote:

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I have bad news for you. Capital One is just as stingy with CLIs, if not more.

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Not sure about that. My credit is in the 800s. US Bank gave me $3000, eventually increased to $6000, for my REI card.

I have $51k with my Capital One Quicksilver, and $30k with the Venture X.

[OmarGB9]

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@CreditJim wrote:

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@OmarGB9 wrote:

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I have bad news for you. Capital One is just as stingy with CLIs, if not more.

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Not sure about that. My credit is in the 800s. US Bank gave me $3000, eventually increased to $6000, for my REI card.

I have $51k with my Capital One Quicksilver, and $30k with the Venture X.

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Yes but those are their prime/legacy cards. It's not quite the same for their cobranded cards. Ask @SoCalGardener about their WM card.

[AverageJoesCredit]

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@CreditJim wrote:

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@OmarGB9 wrote:

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I have bad news for you. Capital One is just as stingy with CLIs, if not more.

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Not sure about that. My credit is in the 800s. US Bank gave me $3000, eventually increased to $6000, for my REI card.

I have $51k with my Capital One Quicksilver, and $30k with the Venture X.

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Just because one has high limits with a lender does not make them less conservative.  Just means they liked your profile. Cap One  is notoriously more famous, or infamous if you will to be more  conservative in handing out cli for most cards. They can give big limits for sure but as if late just as easily can reduce for small usage. 

[SoCalGardener]

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@OmarGB9 wrote:

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@CreditJim wrote:

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@OmarGB9 wrote:

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I have bad news for you. Capital One is just as stingy with CLIs, if not more.

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Not sure about that. My credit is in the 800s. US Bank gave me $3000, eventually increased to $6000, for my REI card.

I have $51k with my Capital One Quicksilver, and $30k with the Venture X.

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Yes but those are their prime/legacy cards. It's not quite the same for their cobranded cards. Ask @SoCalGardener about their WM card.

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Did I hear my name?! *waves* 

Yep, @OmarGB9 is right--Cap1 is very stingy, at least in my experience. When they acquired my WM MC from Synchrony, its CL was $10,000. Three years later guess what its CL is? You're right!! $10,000.   All CLI requests have been denied for one silly 'reason' or another. I've given up asking.

[Physh1]

Didn't see this posted here but I just got an email from REI. On 8/5/22 Capital One will be taking over USB REI portfolio.

Anyone else get this?