topic Re: World MC vs regular MC? in Credit Cards

World MC vs regular MC?

bichonmom — Sun, 20 May 2012 03:48:18 GMT

I hope this isn't a dumb question, but from someone who hasn't had a credit card in over a decade (until just last year)... What is the difference between a "World" MC and other MCs?

I just got the Barclay's Rewards MC, which I hadn't realized was a "world" MC.

Thanks!

Re: World MC vs regular MC?

Anonymous — Sun, 20 May 2012 04:00:55 GMT

@bichonmom wrote:
I hope this isn't a dumb question, but from someone who hasn't had a credit card in over a decade (until just last year)... What is the difference between a "World" MC and other MCs?

I just got the Barclay's Rewards MC, which I hadn't realized was a "world" MC.

Thanks!

Its basically the same thing as a Visa Signature, versus a regular Visa.

World Mastercard has a minimum $5,000 credit limit, whereas a regular , Mastercard is a below $5,000 limit. I also believe it comes with the same things Visa Signatures come with, basically more prestigious travel benefits.

Re: World MC vs regular MC?

CreditChampion — Sun, 20 May 2012 04:01:00 GMT

It is the equivalent to a Visa Signature....requires atleast a 5k limit and has a lot more benifits. Google World MasterCard benifits.

Re: World MC vs regular MC?

bichonmom — Sun, 20 May 2012 04:18:36 GMT

Wow. Good thing I didn't know that or I wouldn't have had the guts to apply! I just got in @ $5k.

I Googled world mastercard rewards, but can only find info from particular banks that issue it.

Anyone w/ a World MC, I'd love to know how it's different than a regular one. Any particular benefits? Barclay's doesn't really promote their rewards MC as being a "world" one. Maybe it will say it on the card.

Re: World MC vs regular MC?

Mailak — Sun, 20 May 2012 04:20:46 GMT

@bichonmom wrote:
Wow. Good thing I didn't know that or I wouldn't have had the guts to apply!@ I just got in @ $5k.

I Googled world mastercard rewards, but can only find info from particular banks that issue it.

Anyone w/ a World MC, I'd love to know how it's different than a regular one. Any particular benefits? Barclay's doesn't really promote their rewards MC as being a "world" one. Maybe it will say it on the card.

Ha, good one!

Re: World MC vs regular MC?

Anonymous — Sun, 20 May 2012 04:25:41 GMT

I have a USAA World Master Card and the benefits and perks are great. You get double the warranty on most items you buy as long as you put the whole purchase on the card. You can get into some of the exclusive airport lounges when you have long layovers between flights there are no foreign transaction fees. You dont have to get the rental insurance on rental vehicles when you use this card because it covers you. You have a very nice card and great scores its well worth having its just a step below the World MC Elite.

Re: World MC vs regular MC?

CreditChampion — Sun, 20 May 2012 04:35:25 GMT

Is world elite better than visa sig?

Re: World MC vs regular MC?

Anonymous — Sun, 20 May 2012 04:41:51 GMT

@Anonymous wrote:
I have a USAA World Master Card and the benefits and perks are great. You get double the warranty on most items you buy as long as you put the whole purchase on the card. You can get into some of the exclusive airport lounges when you have long layovers between flights there are no foreign transaction fees. You dont have to get the rental insurance on rental vehicles when you use this card because it covers you. You have a very nice card and great scores its well worth having its just a step below the World MC Elite.

Any Visa/Mastercard, regardless of if being a World, or Signature covers rental collision.

Re: World MC vs regular MC?

Anonymous — Sun, 20 May 2012 04:45:45 GMT

@Anonymous wrote:
@bichonmom wrote:
I hope this isn't a dumb question, but from someone who hasn't had a credit card in over a decade (until just last year)... What is the difference between a "World" MC and other MCs?

I just got the Barclay's Rewards MC, which I hadn't realized was a "world" MC.

Thanks!

Its basically the same thing as a Visa Signature, versus a regular Visa.

World Mastercard has a minimum $5,000 credit limit, whereas a regular , Mastercard is a below $5,000 limit. I also believe it comes with the same things Visa Signatures come with, basically more prestigious travel benefits.

Not true. I've had several regular MC in the past with limits over $5K.

Re: World MC vs regular MC?

crunching_numbers — Sun, 20 May 2012 06:02:31 GMT

Signature/World products are NPSL. The catch is any amount that you go over your line is due with the next due date, and the CC does not need to let you go over your CL for any given transaction amount if they do not want to. So they are NPSL at the CC companies discretion.

Re: World MC vs regular MC?

Anonymous — Sun, 20 May 2012 06:05:06 GMT

@Anonymous wrote:
Not true. I've had several regular MC in the past with limits over $5K.

It is true, if you are insta approved for a card, Visa, or MC, and they start you out at $5k+, it will be issued as a Signature/World MC. I believe if you get a card, say at $4K, it will be issued as a regular Visa or MC and then say you recieve CLI's that put you over the $5k threshold, you have to call and ask for them to convert your card, to a Signature/World MC. A new card would have to be issued showing the difference in status.

Re: World MC vs regular MC?

bichonmom — Sun, 20 May 2012 06:12:15 GMT

@crunching_numbers wrote:
Signature/World products are NPSL. The catch is any amount that you go over your line is due with the next due date, and the CC does not need to let you go over your CL for any given transaction amount if they do not want to. So they are NPSL at the CC companies discretion.

Crunching, You have the Barclay's B&N World MC -- Do you mind telling me how long you've had it? You have a really nice CL w/them. I guess I barely squeeked by with a $5k approval. But so far I'm very happy w/Barclay's since having my Apple in November.

Re: World MC vs regular MC?

crunching_numbers — Sun, 20 May 2012 06:27:11 GMT

@bichonmom wrote:
@crunching_numbers wrote:
Signature/World products are NPSL. The catch is any amount that you go over your line is due with the next due date, and the CC does not need to let you go over your CL for any given transaction amount if they do not want to. So they are NPSL at the CC companies discretion.
Crunching, You have the Barclay's B&N World MC -- Do you mind telling me how long you've had it? You have a really nice CL w/them. I guess I barely squeeked by with a $5k approval. But so far I'm very happy w/Barclay's since having my Apple in November.

No problem Bichon! I got the card in 5/2008. My last auto CLI was Jan of this year when I went from $12.8K.

Re: World MC vs regular MC?

ajh5408 — Sun, 20 May 2012 07:05:45 GMT

The $5,000 minimum may be true for VISA Signature, but I have a World MasterCard (Citi Dividend) with a $1,200 limit.

Re: World MC vs regular MC?

crunching_numbers — Sun, 20 May 2012 11:06:58 GMT

@ajh5408 wrote:
The $5,000 minimum may be true for VISA Signature, but I have a World MasterCard (Citi Dividend) with a $1,200 limit.

Does it still work the same with the NPSL?

Re: World MC vs regular MC?

Anonymous — Sun, 20 May 2012 17:06:15 GMT

@Anonymous wrote:
@Anonymous wrote:
Not true. I've had several regular MC in the past with limits over $5K.
It is true, if you are insta approved for a card, Visa, or MC, and they start you out at $5k+, it will be issued as a Signature/World MC. I believe if you get a card, say at $4K, it will be issued as a regular Visa or MC and then say you recieve CLI's that put you over the $5k threshold, you have to call and ask for them to convert your card, to a Signature/World MC. A new card would have to be issued showing the difference in status.

I was disputing your claim that regular MC are under $5K (I highlighted in red). You can have a regular MC with over $5K limit. And you can keep it that way.

Re: World MC vs regular MC?

laboi_22 — Sun, 20 May 2012 17:47:06 GMT

Is the World Mastercard like the Visa Signature in that it doesn't report a limit on the CRAs because it's a flexible spending card? If so make sure to look into that. You might want to bring it down to a regular Mastercard if you are concerned about UTL. Usually these types of cards do not report a limit, they only report the high balance as the limit, and can affect UTL negatively. Just check to make sure. Maybe someone else had experience with Barclays and the World card. I think the limit reporting issue is lender specific/influenced.

Re: World MC vs regular MC?

Anonymous — Sun, 20 May 2012 17:59:24 GMT

not true logan. citi sent me a world mc w/o a call when my limit went to 5300. 1 day i went to mailbox and there it was. i think citi rocks. but i didnt know it was a npsl. i dont understand b/c my limit is 5300.

Re: World MC vs regular MC?

Anonymous — Sun, 20 May 2012 17:59:53 GMT

@laboi_22 wrote:
Is the World Mastercard like the Visa Signature in that it doesn't report a limit on the CRAs because it's a flexible spending card? If so make sure to look into that. You might want to bring it down to a regular Mastercard if you are concerned about UTL. Usually these types of cards do not report a limit, they only report the high balance as the limit, and can affect UTL negatively. Just check to make sure. Maybe someone else had experience with Barclays and the World card. I think the limit reporting issue is lender specific/influenced.

The no reporting thing is changing as cras have added features to allow these kinds of cards to report limit. They list limit and the account type is says something different that regular credit card. In any case, whether or not your issuer is doing this already or is planning to do it or never does it is up to them. Best way is to check credit report and call issuer. If it is no showing limit, then fico will treat your high balance as your limit like the old tu98 does for Amex charge cards.

Re: World MC vs regular MC?

Anonymous — Sun, 20 May 2012 18:14:34 GMT

I just checked my CR and my USAA World MC reports as a flexible spending credit card and reports the CL