02-25-2010 09:55 PM
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.
02-26-2010 07:33 AM
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?
02-26-2010 09:33 PM
02-27-2010 10:24 AM
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.
02-27-2010 11:48 AM
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.
02-28-2010 07:21 PM
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