vjane89 wrote:I currently have a CapitalOne Platinum No Hassle Rewards Mastercard with a credit limit of about $2,500. I think the rewards are only 1% back on all purchases.
They recently received an email from Capital One offering to switch my card over to the Quicksilver One with 1.5% back on all purchases. They state that I do not need to reapply and my credit won't be affected.
Should I do this? Are there any drawbacks to switching my card?
Thanks in advance for the help
I, for one, think that Capital One uses somewhat deceptive practices with their offerings and their adverts for Quicksilver. It appears that the Quicksilver Rewards card (notice the lack of "One" in the name) is a Visa Signature card, requires excellent credit by their definition, and has no annual fee. The Quicksilverone Rewards, however, is a MasterCard, requires average to good credit, and has an annual fee of $39. In the credit card world, this appears to be the complete opposite of what nearly all other card issuers do -- charge an AF for their "better" cards.
Of the 2 cards, the Quicksilver is clearly the superior card to the Quicksilverone, but their adverts would lead one to possibly believe the opposite. While both cards look to be among the better cards from Cap One, if you do PC, make sure it's to the one you truly want. Without AF=Visa. With AF=MasterCard I'd include this in any discussion you have with them to make sure you get the card that you want.