11-15-2012 08:36 PM
I have heard that the banks rake in higher swipe fees for Visa Signature cards than for regular Visas, so there's a benefit for them to issuing Signature cards.
Actually it's a higher merchant fee which goes on to the transaction network (Visa / MC in the World Elite case) is my understanding it.
Platinum used to mean something, but now it's basically the standard card. Signature has requirements (5K minimum CL) and also comes with additional benefits. That's really about it, other than some Signature cards don't get their CL's reported but fortunately there's fewer lenders that do that every year.
Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 670, Wally TU 700, EX 718 (11/29/13, EX 07/11/13)
Goal Score: 680 in all three (01/01/14)
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