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
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.