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World Mastercard/Signature Visa

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nj23
Regular Contributor

World Mastercard/Signature Visa

Hello

 

So, I've been gardening for ages, and am planning on going on an app spree in late summer/early fall when all of my derogs drop off.  Let's say my scores take a big jump into the mid-700s+, and I apply for some cards.  Is it possible that I could be approved for a WMC or Signature from an initial application (assuming I'm granted a $5k + initial CL), or is this something that I'd have to work into, even if I were granted an intial CL of 5k +?  I've read that you have to already have a 5k card to qualify, and I've read that you just have to have at least 5k CL on the card to have it become/be WMC/Signature.

 

Thanks 


FICO TU: 768 (Post-Spree 7/14 Discover FICO) FICO EX: 734 (post-spree 7/6) FICO EQ: 730 (7/15 Lender pull after INQs)
6% utility July 29th. Back into the Garden after a successful spree...for real this time Smiley Very Happy
Message 1 of 8
7 REPLIES 7
mongstradamus
Super Contributor

Re: World Mastercard/Signature Visa


@nj23 wrote:

Hello

 

So, I've been gardening for ages, and am planning on going on an app spree in late summer/early fall when all of my derogs drop off.  Let's say my scores take a big jump into the mid-700s+, and I apply for some cards.  Is it possible that I could be approved for a WMC or Signature from an initial application (assuming I'm granted a $5k + initial CL), or is this something that I'd have to work into, even if I were granted an intial CL of 5k +?  I've read that you have to already have a 5k card to qualify, and I've read that you just have to have at least 5k CL on the card to have it become/be WMC/Signature.

 

Thanks 


For me I don't have any world mc or visa Sig cards that weren't au accounts till just recently.I applied for CSP,and was approved for visa signature. Hope that answers what you were looking for 



EX Fico 804 11/16/16 Fako 800 Credit.com 11/16/16
EQ SW bank enhanced 11/16/16 839 CK fako 822 11/16/16
TU Fico discover 10/19/16 814 Fako 819 Creditkarma 11/16/16
Message 2 of 8
striehl8212
Frequent Contributor

Re: World Mastercard/Signature Visa


@nj23 wrote:

Hello

 

So, I've been gardening for ages, and am planning on going on an app spree in late summer/early fall when all of my derogs drop off.  Let's say my scores take a big jump into the mid-700s+, and I apply for some cards.  Is it possible that I could be approved for a WMC or Signature from an initial application (assuming I'm granted a $5k + initial CL), or is this something that I'd have to work into, even if I were granted an intial CL of 5k +?  I've read that you have to already have a 5k card to qualify, and I've read that you just have to have at least 5k CL on the card to have it become/be WMC/Signature.

 

Thanks 


I think once that last derog falls off and your score goes up, you will stand a good chance. $5,000 is the base for most, but my Citi TYP card is a Visa Signature and my limit is $2,000. And when I got my Sallie Mae WMC my highest limit was $2,000. It's really a guessing game as to what limits companies will give. At the end of the day, go for the cards you want especially after gardening for so long. I don't see how you have the restraint. Haha

March 2014: EX 693 I EQ 672 I TU 694
September 2014: EX 721 I EQ 741 I TU 742
Message 3 of 8
NoAnchoviesPlease
Established Contributor

Re: World Mastercard/Signature Visa

I got my World Elite Mastercard with an out-of-the-blue app 7 years ago, and a $9k limit. Didn't ask for it or anything. 

 

I got my Chase Freedom bumped to 5k and converted to Signature after being approved for CSP not so long ago. 

 

I think $5k is a good guideline but card issuers can of course adjust that. I've seen people with 6k-12k report that they can't get converted to signature, and some folks on this thread already with sub-5k signature. I expect your banking relationship with the issuer is probably as important as the credit limit. 

12/29/2015 669/696/706
01/10/2016 698/711/730 but still to and fro a bit

Climbing to 700 and beyond. It's too cold for gardening.
Message 4 of 8
DrMac210
Regular Contributor

Re: World Mastercard/Signature Visa

Before yesterday, all I had was a $1500 Paypal Smart Connect account.

 

I was approved for a Sallie Mae World Mastercard at a $10K CL.

 

I was also approved for a Chase Freedom with a $11K CL, but not sure whether it is a Signature or not since I had to do some ID verification on the phone and was approved after that.  I never thought to ask whether it was a Signature card or not.

 

So you don't necessarily NEED a previous card with a $5K+ limit.


Starting Score: EQ 641, TU ???, EX ??? (myfico 6/7/13)
Current Score: EQ 760, TU 740, EX 750 (myfico July 2015)
Goal Score: 800 across the board


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Message 5 of 8
pip3man
Valued Contributor

Re: World Mastercard/Signature Visa

im really interested in this because im trying to get my first CC with an initial $5k limit but idk if im chasing shadows considering the fact that I dont have a single credit card that has a $5k line on it. dont know what bank would be my best shot to get approved for $5k minimum out of the blue?! Certainly not Chase since all they could approve me for on the Freedom was $500 and wouldnt give in to a CLI, Citi I already have a $2k card with them, Discover and Barclay as well. Amex has me blacklisted and BOA maybe. Who do I turn to now?!

Message 6 of 8
duyen28262
Valued Member

Re: World Mastercard/Signature Visa

I got my first Visa Signature with BB&T in 2009 with a CL of $7,000 (no idea what my score was back then)

 

Then I just got a BofA Cash Rewards Visa Signature last  month with a CL of $5,000 (My FICO score was about 670)

 

Chase denied me the Freedom card due to my high balances even though I told them that I recently paid off $3,000 balance on my Slate card. I guess the Slate card will be SD'ed unless they offer me 0% BT.

FICO TU 656 (Barclays 07/15/14) - FICO EQ 650 (DCU 07/25/14) - ? FICO EX ?
 photo 9ed69652-dfc4-4961-b6ba-f0cf0ae5d607.png
BBT Visa Signature $7,000
Message 7 of 8
ways2go
Frequent Contributor

Re: World Mastercard/Signature Visa

I have a IHG Chase World MC and my limit on that is 3500.

Message 8 of 8
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