topic Re: Platinum Vs. Signature vs. Preferred in Credit Cards

Platinum Vs. Signature vs. Preferred

webhopper — Sat, 11 Feb 2012 03:11:30 GMT

What is the difference between these?

I'm a card noob. LOL

thanks in advance

Re: Platinum Vs. Signature vs. Preferred

Anonymous — Sat, 11 Feb 2012 03:38:12 GMT

Platinum and Signature are "Series" from Visa. Preferred is simply what a bank calls a card and does not involve Visa. Signature has a min limit of 5K that you can go over and extra benifits like concierge. Platinum is usually under 5K and doesnt allow you to go over the limit. Prefered, while not involved in this, usually has an annual fee and extra points/benifits over the normal version of the card. Example would be sapphire vs sapphire preferred.

http://www.differencebetween.net/business/difference-between-visa-signature-and-platinum/

Re: Platinum Vs. Signature vs. Preferred

webhopper — Sat, 11 Feb 2012 03:40:13 GMT

Can a Platinum card have a 5k limit or greater?

I'm confused about my new card, I have it listed as Platinum since the rep told me I had applied for Visa Platinum, but I've been seeing the Amazon.com Visa is a signature card elsewhere online.

Re: Platinum Vs. Signature vs. Preferred

webhopper — Sat, 11 Feb 2012 03:43:30 GMT

I read the article, I think i got it. So ya, mine is a platinum since they will be reporting the limit.

Re: Platinum Vs. Signature vs. Preferred

pizzadude — Sat, 11 Feb 2012 03:46:03 GMT

Platinum used to have significance as a card with a larger CL than other cards like, say...Gold. It doesn't anymore though. Every CC issuer will give you a "platinum" card, including Cap1 and HSBC, with a $300 CL. Many issuers will give out large CLs on platinum cards, but many others issue rebuilder cards labeled as platinum.

Re: Platinum Vs. Signature vs. Preferred

webhopper — Sat, 11 Feb 2012 03:51:06 GMT

haha i used to have one of those rebuilder cards, I always wondered why it said platinum, i think it was a mastercard, not sure, when my credit was so bad. The one I got recently was Chase Visa Platinum

Re: Platinum Vs. Signature vs. Preferred

Anonymous — Sat, 11 Feb 2012 03:52:45 GMT

Some sigs report limits. Like my sapphire preferred.

Re: Platinum Vs. Signature vs. Preferred

pizzadude — Sat, 11 Feb 2012 03:53:09 GMT

Nice ! You should be able to get a real CL worthy of a Platinum card with that.

Re: Platinum Vs. Signature vs. Preferred

Anonymous — Sat, 11 Feb 2012 03:54:44 GMT

@pizzadude wrote:

Platinum used to have significance as a card with a larger CL than other cards like, say...Gold. It doesn't anymore though. Every CC issuer will give you a "platinum" card, including Cap1 and HSBC, with a $300 CL. Many issuers will give out large CLs on platinum cards, but many others issue rebuilder cards labeled as platinum.

Didnt this all start with Amex? They had a gold out and Visa wanted to beat it so they launched platinum. Then Amex launched their platinum but Visa ruined the image later on by giving low limits and the cards to mere mortals.

Re: Platinum Vs. Signature vs. Preferred

webhopper — Sat, 11 Feb 2012 04:07:11 GMT

ya the CL on the new card is my highest ever 5k

Re: Platinum Vs. Signature vs. Preferred

afbar1114 — Sat, 11 Feb 2012 04:16:03 GMT

@webhopper wrote:
haha i used to have one of those rebuilder cards, I always wondered why it said platinum, i think it was a mastercard, not sure, when my credit was so bad. The one I got recently was Chase Visa Platinum

what card is this?

Re: Platinum Vs. Signature vs. Preferred

Anonymous — Sat, 11 Feb 2012 04:16:57 GMT

Asked chase today and got this.

Dear ,

I have received your inquiry for the credit limit on your
account.

Upon review, I found your account has a No Preset Spending
Limit (NPSL). With a NPSL account, your spending is not
limited to the amount of your revolving line. Instead,
individual transactions are reviewed and approved as they
are presented for authorization and you do not need to
prepay on the account.

A NPSL account is reported to the credit bureaus without a
credit line and appears as an open line of credit, as
opposed to a revolving credit card. It also allows
spending over the credit access line without charging an
overlimit fee. The amount that will be allowed over the
credit access line is reviewed regularly and is based on
credit information, account history, and personal spending
patterns.

Since some credit bureaus may choose to report a credit
limit, it may appear that you are exceeding your credit
access line. Please keep a copy of this e-mail so that
any potential creditors can be made aware that your
account is a NPSL account.

If you would rather have an account that reports the
credit limit, you may wish to contact Customer Service at
the number listed below and ask to change your account to
another product that does not have the NPSL option.

If you have any further questions, please reply using the
Secure Message Center.

Thank you,

E-mail Customer Service Advisor

Re: Platinum Vs. Signature vs. Preferred

webhopper — Sat, 11 Feb 2012 04:27:13 GMT

Wow @ TannerK, guess you got a Signature!

Re: Platinum Vs. Signature vs. Preferred

webhopper — Sat, 11 Feb 2012 04:28:00 GMT

@afbar1114 wrote:
@webhopper wrote:
haha i used to have one of those rebuilder cards, I always wondered why it said platinum, i think it was a mastercard, not sure, when my credit was so bad. The one I got recently was Chase Visa Platinum

what card is this?

It was the Chase Amazon.com Visa Platinum

Re: Platinum Vs. Signature vs. Preferred

Anonymous — Sat, 11 Feb 2012 04:28:34 GMT

Sapphire preferred I love this thing so far.

Re: Platinum Vs. Signature vs. Preferred

afbar1114 — Sat, 11 Feb 2012 04:29:46 GMT

@Anonymous wrote:
Sapphire preferred I love this thing so far.

what kind of profile do they look for and income

Re: Platinum Vs. Signature vs. Preferred

Anonymous — Sat, 11 Feb 2012 04:31:57 GMT

@afbar1114 wrote:
@Anonymous wrote:
Sapphire preferred I love this thing so far.
what kind of profile do they look for and income

No clue. It was followed by JP Select. AAoA 1y 3m, 15 inq, no baddies, 4 accounts.

Re: Platinum Vs. Signature vs. Preferred

afbar1114 — Sat, 11 Feb 2012 04:34:02 GMT

@Anonymous wrote:
@afbar1114 wrote:
@Anonymous wrote:
Sapphire preferred I love this thing so far.
what kind of profile do they look for and income
No clue. It was followed by JP Select. AAoA 1y 3m, 15 inq, no baddies, 4 accounts.

i wonder if i can ever get one of those cards the jpmorgan selce would be nice lol .... you must need a big income with those cards

Re: Platinum Vs. Signature vs. Preferred

Anonymous — Sat, 11 Feb 2012 04:35:24 GMT

@afbar1114 wrote:
@Anonymous wrote:
@afbar1114 wrote:
@Anonymous wrote:
Sapphire preferred I love this thing so far.
what kind of profile do they look for and income
No clue. It was followed by JP Select. AAoA 1y 3m, 15 inq, no baddies, 4 accounts.

i wonder if i can ever get one of those cards the jpmorgan selce would be nice lol .... you must need a big income with those cards

Big income not required. Anything over 15K I would say.

Re: Platinum Vs. Signature vs. Preferred

afbar1114 — Sat, 11 Feb 2012 04:36:50 GMT

@Anonymous wrote:
@afbar1114 wrote:
@Anonymous wrote:
@afbar1114 wrote:
@Anonymous wrote:
Sapphire preferred I love this thing so far.
what kind of profile do they look for and income
No clue. It was followed by JP Select. AAoA 1y 3m, 15 inq, no baddies, 4 accounts.

i wonder if i can ever get one of those cards the jpmorgan selce would be nice lol .... you must need a big income with those cards
Big income not required. Anything over 15K I would say.

maybe ill try for it next year after having slate for a year..i have investments that are alot and my income is way over that too