BoA: Received 'invitation' to upgrade to signature visa

[Anonymous]

At least it's an opt-in. My bank sent me al letter that I would get a new card with a new number because of an upgrade to a Visa Signature. I would have to call them if I didn't want the card.

[Anonymous]

---

@creditwherecreditisdue wrote:

The "upgrade" is from the :"Platinum" benefits to the "Signature" benefits. (Also from CL to NPSL.)

Reference:

     http://usa.visa.com/personal/cards/benefits/index.html

It really is an upgrade. Something I'd consider, txjohn. Time to move some of those CL's off your CBR! 

---

I understand the "jargon" difference, and the "OPEN" vs. "REVOLVING.  But no-preset spending limit is almost a deceptive practice.  It just means the limit is hidden and semi-secret....but we all know that a limit exists.

I'm not sure what/why the OP needs to move the CL off their CR.  What is the advantage here?  FICO will still factor CL by using high balance against balance anyway, as I understand the signature/npsl deal.

I can see swapping if the benefits or terms are better in someway or provide some value that represent an advantage that can/will be used.  But I'm not sure I understand at this point what significant advantages there are.  My World MC and BoA Rewards Visa seems to have all the benefits provided that the link to "Signature" show. 

IMO  

Message Edited by txjohn on 01-21-2010 05:13 AM

[Anonymous]

---

@Anonymous wrote:

FICO will still factor CL by using high balance against balance anyway, as I understand the signature/npsl deal.

---

I think the older TU FICO model that you can buy does it this way (lenders get a different one). The newer FICO models disregard Signature cards in debt ratio calculations.

But yes, the main benefits of a Signature card are for the bank itself. They usually get higher merchant fees.

[Anonymous]

I called up the CSR and had my plat plus upgraded to the Visa Signature.  It offers a rewards program, and I've been looking for a Signature to replace another card charging me a yearly fee.  I use the Sig mostly for the warranty registration service.

I asked the CSR if my old credit limit would be the reported limit for the Signature card, not my past high balance.  He told me it would report the old limit... We shall see... 

[creditwherecreditisdue]

---

@Anonymous wrote:

I asked the CSR if my old credit limit would be the reported limit for the Signature card, not my past high balance.  He told me it would report the old limit... We shall see... 

---

Don't be too surprised when this turns out not to be true. It's a NPSL card.

[creditwherecreditisdue]

---

@Anonymous wrote:

---

@Anonymous wrote:

FICO will still factor CL by using high balance against balance anyway, as I understand the signature/npsl deal.

---

I think the older TU FICO model that you can buy does it this way (lenders get a different one). The newer FICO models disregard Signature cards in debt ratio calculations.

---

I just wanted someone else to say it...