Quilates translates to "carats", a unit of purity for gold or weight for gemstones. It's a word often associated with luxury and value, but not commonly found in everyday song lyrics.
In this song, Bad Bunny uses it to describe his jewelry: "Ahora todo mis prendas son 24 quilates" (Now all my jewelry is 24 carats). This line highlights a shift in his status or wealth, making quilates a key word that signifies opulence and success within the narrative of the song.
Bad Bunny isn't exactly being subtle in this one! "Dime Si Te Acuerdas" is all about him hitting up an old flame, asking her, "Baby, dime si te acuerdas / De todo lo que hacíamos hasta que saliera el sol" (Baby, tell me if you remember / Everything we did until the sun came up). He's not trying to get back together, though. He makes that very clear with the line, "Yo solo quiero chingar contigo, no quiero volver" (I just want to f*ck you, I don't want to get back together). It's a blunt invitation to revisit a purely physical, no-strings-attached past.
He reminds her of all their wild times, from the elevator to the back of an Accord, and even suggests a new spot: "Vamos a hacerlo en el balcón del hotel" (Let's do it on the hotel balcony). The song is full of these specific, intense memories of a relationship that goes way back to middle school ("Tú eres mía desde la intermedia"). He mixes nostalgia with some classic Bad Bunny bragging, like the hilarious line, "Mi bicho es famoso, búscalo en wikipedia" (My d*ck is famous, look it up on Wikipedia). It's a straightforward song about wanting to reconnect with someone you've always had incredible chemistry with, even if it's just for one more night.