Editor’s Note: This offer is no longer available.
Just a quick followup on my earlier article about Citi Dividend Platinum Select cards being converted to Dividend World MasterCards. KMC of AdvancedPersonalFinance e-mailed me to share the following bit of information:
“A friend’s wife is setting up a business and she’ll be taking credit cards. On the schedule of fees, they specifically mention several cards including ‘World Mastercard‘ for special treatment… Merchants must pay an additional fee when customers use these kinds of cards.”
Just as I suspected, this “upgrade” isn’t motivated by a desired to reward you “due to your noteworthy card history.” Rather, it seems to be driven by a desire to increase merchant processing fees. Not terribly surprising, but I though y’all might be interested.