The last time we had a brutal year on credit card discontinuations was in 2014. I guess at some point, we were due for another one this year. It saddens me today to write about the Capital One Aspire Travel World Elite MasterCard has been discontinued, especially since I am a cardholder myself.
Accordingly to my contacts at Capital One, they provided me with the following:
- As a result of changing market conditions, we will no longer be offering the Aspire Travel World Elite MasterCard to new customers. The evolving interchange environment has made this product unsustainable. There is no impact to existing customers at this time.
At least existing cardholders are grandfathered at the moment. However, if history repeats itself (which was a whole fiasco), they may end up cancelling grandfathered cardholders as well. I really hope that it will not be the case because I plan to hold the card as long as they allow me to.
Furthermore, I hope this means that Capital One has a plan to launch new products. In the meantime, below were the highlights of the Capital One Aspire Travel World Elite MasterCard:
- $150 annual fee
- Earn 40,000 sign up bonus points after spending $1,000 within the first 3 months
- Earn 2 points for every $1 spent on all purchases