Credit card changed by card company: Why is Citi changing my Visa dividend platinum select card to dividend world Mastercard?
My citi divident platinum select card is being replaced with citi dividend world mastercard.
I don't quite understand their explanation. But what are the changes on the benefits?
why change from visa to mastercard? I think visa is more popularly acceptable. Is this true?
Thanks and regards!
Besides the change from Visa to Mastercard, overall, is this move good or bad to customers?
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This kind of thing happens a lot in the credit card industry. The bank (Citi) tries to get the best deal they can for themselves. My guess is Mastercard is charging Citi less fees than Visa was willing to charge them so they switched. Your only real option is to close your account and switch to a different card that is a Visa. But I don't think there is a big difference between Visa and Mastercard. Most are accepted just about everywhere.
It also could be related to the fact that Citi owns a big portion of Mastercard (source Wikipedia). So Citi would rather give their business to a company they own instead of Visa.
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