@CreditScholar wrote:
@mxp114 wrote:
@CreditScholar wrote:
Do you know what lenders offer the VSP currently and what the spend threshold is? I read a few years ago that it was supposed to be 50k, but I haven't heard much about it since then.No idea, but I think we can rule out Chase and Citi. Chase because surely the Palladium would be issued at VSP by default. Citi because we would see myriad threads about $1k credit limit VS cards being upgraded to VSP like we do with WE lol
+1. WEMC (in the US) has really lost a lot of its exclusivity in the past few years, but that seems to be the trend in general these days. Visa Signatures are handed out like candy too.
Sometimes when people post about getting a VS, my first reaction is "with how freely banks are giving them out, who doesn't have one?"
Citi WE means nothing, but Barclaycard WE seems more exclusive. I think the tier dilution is because introduction of new Visa and MasterCard tiers is coming soon. That's what happened when WMC/VS were introduced, Platinum became widely issued and the $5k requirement eliminated. We're seeing the same trend with WMC/VS, issuers going as low as $1k and it has become the de facto tier for nearly every product.
@majortom546 wrote:
I believe it is standard for all visa cards. I came accross this link: http://digitaltransactions.net/news/story/1396 that outilnes a change in the way Visa authorizes credit cards back in 2007. The field code 62.23 they are talking about is what this is.
I know there is coding, for example MWE is the World Elite MasterCard code at MasterCard. I just wonder if this list is issuer specific, it is missing Visa Gold and Visa Platinum. You should call Visa and ask which tier you have. Let us know if you do.
@majortom546 wrote:Ill try and see what happens. Does anybody have a phone number for visa? The only one I can find is for reporting lost/stolen cards.
1-800-VISA-911 afaik is the benefits line and they can tell you.
@CreditScholar wrote:
Any ideas on what the requirements for the next tier might be?
Also the US is the worst offender when it comes to dilutions such as these. Here WMC is by invitation only, and the highest publically available tier is platinum (which requires an absolute minimum income of 75-100k). WEMC dosn't even exist.
No idea but have some guesses, nothing confirmed.
I agree on the US, which is probably why Visa USA and Visa's international arm split on the fourth tier being branded as Signature here and Infinite abroad as a way to allow the US market to dilute and foreign to retain prestige. MC possibly ran into the same issue with World Elite vs World Signia however as of last year, unified the offering globally as World Elite.