Wednesday, April 1, 2015

Why Capital One was smart to change their card that was one of the best in Canada

Earlier this year Capital One decided to discontinue their number one card, the Capital One® Aspire Travel™ World MasterCard® and replace it with the  Capital One® Aspire Travel™ World Elite MasterCard®. The old Aspire Travel™  World took the number one spot in our Top Travel Rewards Credit Card rankings for 5 years straight between 2010 and 2014 and was a highly coveted card due to its amazing first purchase bonus of 35,000 Miles and yearly anniversary bonus of 10,000 miles. Those two amazing benefits have been reduced to a 10,000 Mile first purchase bonus worth up to $100 in travel and no anniversary bonus on the new World Elite version. Yes, many are sad to see this happen especially since the only real addition to the World Elite card is now having a better concierge service through the World Elite MasterCard® Concierge Service.

In my opinion though, this was a smart move by Capital One as it now puts them on a level playing field with their competition. Before they were above all their competitors with their sign up offering and to the unknowing consumer many were not aware of this. That unknowing consumer could easily be swayed by marketing tactics like ‘First Year Free’ or ‘increased sign up/first purchase bonus’ or both from Capital One's competitors when in fact with those promotions the card they were getting still wouldn’t match the old Capital One® Aspire Travel™ World MasterCard®.

Now with a lower first purchase bonus, no first year free (or anniversary bonus to lower the annual fee) the card has a great starting point to bring in the marketing department to push this card. If Capital One wants to do an acquisition drive for this card they can easily run a limited time promotion of an increased first purchase bonus of 20,000 miles, 30,000 miles or more and with or without first year free. By offering this type of incentive Capital One will more than likely acquire more customers than they did with the old Capital One® Aspire Travel™ World MasterCard® regular offer.  A simple promotion like first year free won't cost them as much as the old card as they are simply losing the $120 in the first year compared to the old offering of $100 each year due to the anniversary bonus.


Yes it is was ultimately unfortunate that this change had to happen but in the big picture, the Capital One® Aspire Travel™ World Elite MasterCard® is still a very good card and should maintain a good following in the market, especially if and when Capital One brings on limited time first purchase bonuses or incentives!

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Here are the details of the Capital One® Aspire Travel™ World Elite MasterCard®.
• Earn more reward miles – on everything you buy!
• Earn 2 reward miles for every $1 – on all purchases
• Get 10,000 bonus reward miles with your first purchase – a value of up to $100
Please Note: A requirement of this card is a minimum personal income of $70,000 or household income of $120,000.
• Redeem for travel, cash, and gift cards
• World Elite MasterCard benefits, including Travel Emergency Medical Insurance and Trip Cancellation Insurance
• Add an authorized user for $0
• MasterCard PayPass

World Elite MasterCard Travel Benefits
• Travel Emergency Medical
• Trip Cancellation
• Trip Interruption
• Flight Delay
• Baggage Loss
• Baggage Delay
• Travel Accident Insurance
• Travel Assistance
• Car Rental Collision/Loss Damage Waiver

World Elite MasterCard Everyday Benefits
• Price Protection Service
• Extended Warranty
• Purchase Assurance
• World Elite MasterCard Concierge Services

MasterCard Benefits
• MasterCard Global Service™
• Zero Liability

Apply Now

4 comments:

  1. Got notice in the mail yesterday that my Aspire Travel card is being upgraded to the new World Elite in the coming months and my 10,000 point annual bonus is staying intact. Quite happy with this card!

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  2. I got the same letter yesterday although I am not sure that the 10000 anniversary bonus is enough to keep me around. Because we don't travel for business we need those BIG sign up bonuses to make a card worth it for travel hacking. If that wasn't our motivation I would likely keep the card due to the earning potential .

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  3. Agree, not the right card for travel hacking however If they follow suit with our suggestion of limited time bonuses and FYF it may become so!

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  4. I've used this card for years for business and I like it. I'm not sure how the Concierge service works. I tried it once but no luck or I didn't see it's value compared to what I do personally - without spending too much time arranging something.


    The only issue I have is that once Capital One sets it's credit limit, you can't increase it. I often bump my ceiling so I'd have to pay twice in the same month. I use this for a lot of business expenses that don't take Amex. I use my Amex for travel because I could never be sure I'd hit my spending limit while on the road. Based on other comments from users, their limits were also low for this type of spending - less than $9K. In addition, redeeming points is straight forward and easy.

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