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Established Member
creditcrazy25
Posts: 30
Registered: ‎01-07-2010

Nordstrom Bank website?

okay Nordy peeps,

I went and checked out the nordstrom bank website tonight. couldn't help notice they no longer offer the visa platinum card. it only has the visa signature card, retail, mod or check card. also it shows even higher apr's now. tier 1 shows 10.9 for nordy purchases and 14.9 for non-nordy purchases. i believe most of us who have tier 1 have the 7.9 nordy purchases and 10.9 non-nordy purchchaes. they better not change this on us esp. with the new credit card rules that went into effect last week. anybody have any info or feedback they want to share? i am thinking its getting a little crazy up in here with these folks. they used to be number 1 but its getting harder and harder to say that.

Valued Member
persica9
Posts: 25
Registered: ‎02-21-2009

Re: Nordstrom Bank website?

Interesting! Looks like they just merged the two products into one. From what I recall (I worked there for 5 years and had to 'sell' the accounts to people) there really wasnt much difference between the Platinum and the Signature, except for the optional travel points on the latter. Maybe with the addition of the MOD and check cards they wanted to simplify the offerings a bit?

 

I currently have the Platinum Visa, I wonder if it will be automatically PC'd to a Signature?

 

S



Current Score: EX:688--TU:681--EQ:677 (1/30/14)
Goal Score: 750

Established Member
creditcrazy25
Posts: 30
Registered: ‎01-07-2010

Re: Nordstrom Bank website?

persica9- Great points you made. i would think once your card expires they will send you the signature. i had the platinum card as well and 2 years ago it expired and my renewal card was the visa signature. they claimed i was a valued customer blah blah and they are rewarding me. whatever. in all honesty i would have rather kept the platinum since they report credit lines to the  bureaus unlike signature cards. i dont know if you remember or not but i got my card in 2002 when the choices were the blue classic card visa or the silver shiny platinum. i started off with the blue classic card that had nordstroms name on the front of it in large font. man how times have changed.
Valued Member
persica9
Posts: 25
Registered: ‎02-21-2009

Re: Nordstrom Bank website?

creditcrazy: hmm.. i didnt even think about the difference in reporting for the signature card! now im curious, i may give them a call and see what they say.

 

 



Current Score: EX:688--TU:681--EQ:677 (1/30/14)
Goal Score: 750

Frequent Contributor
bostonte
Posts: 251
Registered: ‎10-04-2009

Re: Nordstrom Bank website?

I suspect it also has to do with the aging of Visa's Signature brand, combined with the higher interchange revenue.

 

Originally only certain types of accounts (high limits, etc.) were able to be called Gold, then Platinum, and most recently Signature was the newest "best" tier.

 

But like all the others, Signature is now available on just about any account the issuer wants to offer it on. I've seen posts of $100 "Signature" limits.

 

Signature cards get a higher interchange amount for the issuer, many customers think it's a benefit or reward to get a "better" card, and now that they can offer it on all their accounts it's just easier and more profitable. 

Established Member
creditcrazy25
Posts: 30
Registered: ‎01-07-2010

Re: Nordstrom Bank website?

holy cow talk about deja vu. so yesterday i check the mail and inside is a letter from Nordstrom Bank announcing change of terms and starting in either june or july of 2010 tier 1 interest rate will go from 10.9 to 14.9 for non nordy purchases. that really isn't that great of an apr anymore. i miss the 7.9 and at least 10.9 was decent. whats going on with these crazies? oh well i guess its the state of the economy.

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