About WMC and WEMC

[Anonymous]

I apologize in advance if there is already another thread on this, but what are the starting limits on the higher tiered cards? I know Visa Signature is at 5k+, but what about WMC and WEMC?

[Anonymous]

Doesn't seem like there is a set minimum for WMC or WEMC from what I've read around here. Capital One issues WEMC at $600 limits, Barclay issued me a WMC with a $1300 limit, I believe I saw someone with a Citi DC WMC $1200 limit. Maybe it depends on the lender? Not sure.

[Anonymous]

Hmm, so maybe I could contact the capital one EO, after I've had my QS1 for 9 months, to PC to a WEMC Quicksilver with no AF? Because I'll bet they won't let me PC to the regular Quicksilver with no AF until the one I have now is out of its intro APR period. At the end of September. I've had it since January. Limited started at 500 and is now 1,500.

[jsucool76]

cap1 refused to give me a wmc until I got a 5000$ limit. when I hit 6500 I asked for a wemc and ended up with a wmc.

[Anonymous]

I have a BoA WEMC with an $800 limit so it seems as though there is no minimum CL like the Visa Signature.

[jsucool76]

the minimum cl isn't set by visa or Mastercard. it's set by the bank. Mastercard and visa offer benefits to you, because the bank pays for them when they begin issuing the card. you might have a visa Sig, or world Mastercard, or world elite Mastercard with almost no benefits because the bank simply doesn't offer them.

it's something to look into.

[mxp114]

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@jsucool76 wrote:
the minimum cl isn't set by visa or Mastercard. it's set by the bank. Mastercard and visa offer benefits to you, because the bank pays for them when they begin issuing the card. you might have a visa Sig, or world Mastercard, or world elite Mastercard with almost no benefits because the bank simply doesn't offer them.

it's something to look into.

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Actualy the minimum guidelines are set by the card associations and issuers cannot go below that floor, however they can exceed it. There were mandates for World MasterCard and Visa Signature regarding the credit lines not going below $5000 however MasterCard and Visa removed those and instead allows issuers full discretion. The original mandate for World Elite was that the tier would be by invitation upgrade only after spend on a MasterCard exceeded $xx,xxx but this was eliminated in 2013.

[Anonymous]

Is there really any additional benefit in having a WMC or WEMC, if I already have Visa Signature?

[Anonymous]

So after reading through some old threads it seems the only difference between Visa Sig and WEMC is that WEMC provides primary collision insurance. 

So what happens if I use Visa Sig to rent a car in Europe. Wouldn't Visa Sig automatically become the primary insurance since my Progressive won't cover a rental car outside US?

[jsucool76]

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@mxp114 wrote:

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@jsucool76 wrote:
the minimum cl isn't set by visa or Mastercard. it's set by the bank. Mastercard and visa offer benefits to you, because the bank pays for them when they begin issuing the card. you might have a visa Sig, or world Mastercard, or world elite Mastercard with almost no benefits because the bank simply doesn't offer them.

it's something to look into.

---

Actualy the minimum guidelines are set by the card associations and issuers cannot go below that floor, however they can exceed it. There were mandates for World MasterCard and Visa Signature regarding the credit lines not going below $5000 however MasterCard and Visa removed those and instead allows issuers full discretion. The original mandate for World Elite was that the tier would be by invitation upgrade only after spend on a MasterCard exceeded $xx,xxx but this was eliminated in 2013.

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So what you're saying is..the minimum CL isn't set by visa or mastercard, but set by the bank that issues the card.....Hmm, sounds familiar.