11-15-2012 10:03 PM
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.
True about platinum. I was watching a television show from some years back and the girl thought it was awesome her parents had a platinum visa. Visa Signature has become meaningless as well. 5000 is way to low for a supposedly high ranking card. It would be better to be 15 or 20. I would lose the ones I have, but oh well. Creditors give them out like nothing these days.
Not every issuer offers a Visa Signature card either. To me it does not really matter. Going over the limit is nice, but the concierge was worthless when I tested it.
Yes, things change! I remember, back in the 80's, I got my first Gold Mastercard, and some people were impressed. Don't think that would do so much these days.
But thanks everyone for the answers, good possible explanations for why Signature vs Platinum seems not to be too correlated with CL (over the $5K minimum for signature) or level of rewards.