Credit Cards

[krystofur]

In all fairness, there is one onther difference between the two cards.  The signiture card comes with signiture benefits.

http://usa.visa.com/personal/cards/credit/visa_signature.jsp?ep=a_cmp_akqa_search

Depending on how many of the benefits you can take advantage of, it may be worth it, especially if this is a PIFer for you.  To date, I haven't used any myself.

[psychic]

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krystofur wrote:

In all fairness, there is one onther difference between the two cards.  The signiture card comes with signiture benefits.

http://usa.visa.com/personal/cards/credit/visa_signature.jsp?ep=a_cmp_akqa_search

Depending on how many of the benefits you can take advantage of, it may be worth it, especially if this is a PIFer for you.  To date, I haven't used any myself.

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I knew that aside from the no preset spending limit feature, the Signature card must have some other benefits, given that the MasterCard "World" version has some additional enhancements.  The reps at Chase have always steered me away from this card.  Actually, except for the credit line reporting problems and high APR, the Chase Freedom Signature Visa is a very attractive card. 

Message Edited by psychic on 02-23-2008 01:57 PM

[Eiso]

Thats also the reason why I converted mine back to normal Freedom. At first, I thought it was cool they issued me a Signature Card. After I read through the forum, I found that signature card (NPSL) hurt your credit utilization ratio by not reporting your credit limit but reporting your spending against your other credit limit. I immediately called up Chase and have mine converted back to a normal Freedom. But I'm still using my "Visa Signature" card since they are the same account number, plus it is still usable even I activated the new card.

[txjohn]

As I understand, some people report the consequence of no-preset is that no CL gets reported against balances, just high balance, which can hurt utilization.  If the card is then also reporting consumer finance loan/open account and you have to wonder about the credit impact.

Message Edited by txjohn on 03-31-2009 04:02 AM