topic Re: NFCU VISA Signature vs. Regular? in Credit Cards

NFCU VISA Signature vs. Regular?

Anonymous — Fri, 09 Dec 2016 16:30:20 GMT

Hi Folks!

Sorry this may be really silly question but I had been trying to research but couldn't find an answer...

Is there a difference on VISA Signature Cash Rewards? to a "regular" CashRewards? I looked up on NFCU website and I thought all of their cards are "VISA Signature"?

Thanks for the insight!

Re: NFCU VISA Signature vs. Regular?

Dalmus — Fri, 09 Dec 2016 17:11:30 GMT

Technically, any card from any bank can be a VISA Signature card... The threshold is the credit limit you're given. I *think* its $5,000 to be issued a Signature card. So if you qualify for a card from them, but they only give you a $2,000 starting limit, you won't get a Signature card.

The only difference in the cards is the Signature perks you get, which are pretty much standard and not special to NFCU. The rewards structure is identicle.

Re: NFCU VISA Signature vs. Regular?

fltireguy — Fri, 09 Dec 2016 17:20:56 GMT

@Anonymous wrote:
Hi Folks!
Sorry this may be really silly question but I had been trying to research but couldn't find an answer...

Is there a difference on VISA Signature Cash Rewards? to a "regular" CashRewards? I looked up on NFCU website and I thought all of their cards are "VISA Signature"?

Thanks for the insight!

They do offer both versions. as far as I know, with NFCU, if your SL was <$5K, the card was issued as a regular Visa, and $5K and above it is a signature

Re: NFCU VISA Signature vs. Regular?

fltireguy — Fri, 09 Dec 2016 17:23:11 GMT

@Dalmus wrote:
Technically, any card from any bank can be a VISA Signature card... The threshold is the credit limit you're given. I *think* its $5,000 to be issued a Signature card. So if you qualify for a card from them, but they only give you a $2,000 starting limit, you won't get a Signature card.

The only difference in the cards is the Signature perks you get, which are pretty much standard and not special to NFCU. The rewards structure is identicle.

Dalmus, there doesnt seem to be a minimum CL for a signature card, Chase issues Amazon Visa signature cards with $500 limits... I believe that is up to the issuing bank, as far as the qualifications to be signature Visa

Re: NFCU VISA Signature vs. Regular?

Dalmus — Fri, 09 Dec 2016 17:41:57 GMT

@fltireguy wrote:

@Dalmus wrote:
Technically, any card from any bank can be a VISA Signature card... The threshold is the credit limit you're given. I *think* its $5,000 to be issued a Signature card. So if you qualify for a card from them, but they only give you a $2,000 starting limit, you won't get a Signature card.

The only difference in the cards is the Signature perks you get, which are pretty much standard and not special to NFCU. The rewards structure is identicle.
Dalmus, there doesnt seem to be a minimum CL for a signature card, Chase issues Amazon Visa signature cards with $500 limits... I believe that is up to the issuing bank, as far as the qualifications to be signature Visa

I stand corrected. Just did a Google search and the aggregate says "normally" $5K is the required credit line, but individual banks can have separate requirements.

Learn something new every day!

Re: NFCU VISA Signature vs. Regular?

Anonymous — Fri, 09 Dec 2016 17:43:59 GMT

Ditto to the above statements, regardless of the issuing bank's guidelines, there are specific perks associated with Visa Signature cards, and they are easily found online via google. CDW coverage, extended warranties on purchased goods, etc.

Re: NFCU VISA Signature vs. Regular?

Anonymous — Fri, 09 Dec 2016 19:31:09 GMT

From Navy Federal's site (specifically re: Go Rewards)

GO REWARDS Cards: If your application is approved for an account with a credit line of less than $5,000, you will receive a Visa GO REWARDS Card. If your credit line is $5,000 or greater, you will receive a Visa Signature® GO REWARDS Card. The benefits for Visa GO REWARDS accounts differ from those for Visa Signature GO REWARDS accounts

Data point: I got my Go Rewards with a SL of 2,900 (regular Visa), and after CLI (to 13,000) they automatically sent me a VS without me even asking.

Re: NFCU VISA Signature vs. Regular?

happypill — Fri, 09 Dec 2016 19:40:35 GMT

@Anonymous wrote:
From Navy Federal's site (specifically re: Go Rewards)

GO REWARDS Cards: If your application is approved for an account with a credit line of less than $5,000, you will receive a Visa GO REWARDS Card. If your credit line is $5,000 or greater, you will receive a Visa Signature® GO REWARDS Card. The benefits for Visa GO REWARDS accounts differ from those for Visa Signature GO REWARDS accounts

Data point: I got my Go Rewards with a SL of 2,900 (regular Visa), and after CLI (to 13,000) they automatically sent me a VS without me even asking.

That's nice that they automatically upgraded your card to a VS after it went above the $5k threshold. A lot of issuers do not do that, even if you ask.

One personal example that annoys the heck out of my is my Virgin America card from Comenity. They gave me a $4500 limit to start, and now that it's at $9.5k they don't seem willing to change.

Some cards actually offer a different level of rewards and services if you get a VS rather than a standard card, but I think for most cards, there's no difference except for a few rarely used features that aren't such a great deal anyways. Also, not all Visa cards are available as a VS. It's up to the issuer if they want to offer a VS version of their cards.