topic Re: How do you know when you have a World Mastercard? in Credit Cards

How do you know when you have a World Mastercard?

clocktick — Fri, 14 Mar 2014 03:27:56 GMT

I've had the Citi Diamond Preferred for almost 3 years now. I ordered replacement cards last week and the new ones now have WORLD on them.

I guess that means I had it all along? How does one really know?

Re: How do you know when you have a World Mastercard?

barbaralee — Fri, 14 Mar 2014 03:29:27 GMT

It says WORLD on the card and the cl is 5K+.

Re: How do you know when you have a World Mastercard?

axledobe — Fri, 14 Mar 2014 03:30:56 GMT

I think the general rule is that it's the MC equivalent to a Sig Visa. Usually starting CL's are 5K+ to get the perks of the card. There are exceptions to this rule (example, Huntington Voice is World MC no matter the starting limit supposedly).

Others may be able to chime in.

Re: How do you know when you have a World Mastercard?

Involver — Fri, 14 Mar 2014 03:34:36 GMT

World MC do not have to have 5k+ CLs.

I know, for instance, that the Capital One-backed GM card has given out WEMCs with a $500 limit.

Re: How do you know when you have a World Mastercard?

axledobe — Fri, 14 Mar 2014 03:36:53 GMT

@Involver wrote:
World MC do not have to have 5k+ CLs.

I know, for instance, that the Capital One-backed GM card has given out WEMCs with a $500 limit.

Is this called a secured World Mastercard by chance? haha had to say it....

That's actually pretty nice if that's the case.

Re: How do you know when you have a World Mastercard?

newUser0 — Fri, 14 Mar 2014 03:37:10 GMT

@Involver wrote:
World MC do not have to have 5k+ CLs.

I know, for instance, that the Capital One-backed GM card has given out WEMCs with a $500 limit.

+1 agreed.

Re: How do you know when you have a World Mastercard?

Shock — Fri, 14 Mar 2014 03:44:14 GMT

This thread actually brings up a question I'm hoping someone can answer.

Is a WMC or WEMC even matter? Does Visa Siganature even matter?

I do know they come with extra perks and things like that. But does it really make a difference for the average Mr. Lee M. Cardholder?

I honestly think it's the prestigious aspect of it. Am I missing some sort of everyday benefit?

Re: How do you know when you have a World Mastercard?

yudeology101 — Fri, 14 Mar 2014 03:53:53 GMT

@Shock wrote:
This thread actually brings up a question I'm hoping someone can answer.

Is a WMC or WEMC even matter? Does Visa Siganature even matter?

I do know they come with extra perks and things like that. But does it really make a difference for the average Mr. Lee M. Cardholder?

I honestly think it's the prestigious aspect of it. Am I missing some sort of everyday benefit?

Any WMC/WEMC/Visa Sigs are known as the "Flexible Spending Credit" cards, meaning you can go over your given limit without having to worry about your card being denied...other term used is the NPSL.

Most WMC/WEMC cards have min of $5k+ limit, but i think nowadays it all depends on the lender and the product....I have a WMC w/ a $2k limit, and a WEMC w/ a $3k limit.

Re: How do you know when you have a World Mastercard?

Shock — Fri, 14 Mar 2014 03:59:04 GMT

@yudeology101 wrote:
Any WMC/WEMC/Visa Sigs are known as the "Flexible Spending Credit" cards, meaning you can go over your given limit without having to worry about your card being denied...other term used is the NPSL.

Most WMC/WEMC cards have min of $5k+ limit, but i think nowadays it all depends on the lender and the product....I have a WMC w/ a $2k limit, and a WEMC w/ a $3k limit.

Given that 5k is usually the threshold for WMC/WEMC/VS's... lets go with that. But how often can someone really max out 5k in a month? I understand there are heavy spenders, and also people who use them for business expenses which can really add up....but I don't consider those people "average". So...again, is there any other everyday benefit for the average cardholder? Sorry if I don't make sense!

Re: How do you know when you have a World Mastercard?

yudeology101 — Fri, 14 Mar 2014 04:05:12 GMT

@Shock wrote:
@yudeology101 wrote:
Any WMC/WEMC/Visa Sigs are known as the "Flexible Spending Credit" cards, meaning you can go over your given limit without having to worry about your card being denied...other term used is the NPSL.

Most WMC/WEMC cards have min of $5k+ limit, but i think nowadays it all depends on the lender and the product....I have a WMC w/ a $2k limit, and a WEMC w/ a $3k limit.
Given that 5k is usually the threshold for WMC/WEMC/VS's... lets go with that. But how often can someone really max out 5k in a month? I understand there are heavy spenders, and also people who use them for business expenses which can really add up....but I don't consider those people "average". So...again, is there any other everyday benefit for the average cardholder? Sorry if I don't make sense!

This is the general assumption(as i think so too), but we have to take it into consideration that there are still many that only holds one or two cards that may go over the limit easily. How often? That depends on the individual.

::edited for typo::

Re: How do you know when you have a World Mastercard?

Shock — Fri, 14 Mar 2014 04:17:05 GMT

Haha, just seems to defy logic. I'd put my own monthly spend at around 8 or 900 bucks. But then again I'm not married nor do I have a family..and even then, 5k seems like a stretch.

Re: How do you know when you have a World Mastercard?

Anonymous — Fri, 14 Mar 2014 04:36:28 GMT

@Shock wrote:
Haha, just seems to defy logic. I'd put my own monthly spend at around 8 or 900 bucks. But then again I'm not married nor do I have a family..and even then, 5k seems like a stretch.

Basically, not everyone has the same life style! A family of four or five, who shop for groceries at places like Whole Foods, eat out at nice restaurants fairly frequently, travel every so often, buy clothes, pay vet and doctor bills etc, it's very easy to exceed $5K a month, at least in some months if not every month.

Re: How do you know when you have a World Mastercard?

yudeology101 — Fri, 14 Mar 2014 04:39:18 GMT

@Anonymous wrote:
@Shock wrote:
Haha, just seems to defy logic. I'd put my own monthly spend at around 8 or 900 bucks. But then again I'm not married nor do I have a family..and even then, 5k seems like a stretch.
Basically, not everyone has the same life style! A family of four or five, who shop for groceries at places like Whole Foods, eat out at nice restaurants fairly frequently, travel every so often, buy clothes, pay vet and doctor bills etc, it's very easy to exceed $5K a month, at least in some months if not every month.

Oh yea, I believe longtimelurker sometimes goes out for fine dining which he spends $1k per dinner....right? I think i read it somewhere

Re: How do you know when you have a World Mastercard?

Anonymous — Fri, 14 Mar 2014 05:01:46 GMT

@yudeology101 wrote:
@Anonymous wrote:
@Shock wrote:
Haha, just seems to defy logic. I'd put my own monthly spend at around 8 or 900 bucks. But then again I'm not married nor do I have a family..and even then, 5k seems like a stretch.
Basically, not everyone has the same life style! A family of four or five, who shop for groceries at places like Whole Foods, eat out at nice restaurants fairly frequently, travel every so often, buy clothes, pay vet and doctor bills etc, it's very easy to exceed $5K a month, at least in some months if not every month.
Oh yea, I believe longtimelurker sometimes goes out for fine dining which he spends $1k per dinner....right? I think i read it somewhere

Not me. I'm a vegan and pricey vegan food is hard to find (and when it is very expensive, it's not worth it!)

But really, with enough income and using credit cards for everything "normal" (i.e. not paying rent or mortgage with it) it's not at all a stretch to spend $5K a month with considering yourself extravagent.

Re: How do you know when you have a World Mastercard?

newUser0 — Fri, 14 Mar 2014 05:03:42 GMT

yudeology101 - Lol!!

Just curious about your Ritz Card? What do you use this card mostly for?

Re: How do you know when you have a World Mastercard?

yudeology101 — Fri, 14 Mar 2014 05:12:24 GMT

@newUser0 wrote:
@yudeology101 - Lol!!

Just curious about your Ritz Card? What do you use this card mostly for?

I use the Ritz for everyday purchases just like everyone else...but since i do travel a bit, i use it for booking my hotels at Marriott and NOT the Ritz lol

Re: How do you know when you have a World Mastercard?

clocktick — Fri, 14 Mar 2014 06:26:32 GMT

@Shock wrote:
@yudeology101 wrote:
Any WMC/WEMC/Visa Sigs are known as the "Flexible Spending Credit" cards, meaning you can go over your given limit without having to worry about your card being denied...other term used is the NPSL.

Most WMC/WEMC cards have min of $5k+ limit, but i think nowadays it all depends on the lender and the product....I have a WMC w/ a $2k limit, and a WEMC w/ a $3k limit.
Given that 5k is usually the threshold for WMC/WEMC/VS's... lets go with that. But how often can someone really max out 5k in a month? I understand there are heavy spenders, and also people who use them for business expenses which can really add up....but I don't consider those people "average". So...again, is there any other everyday benefit for the average cardholder? Sorry if I don't make sense!

I constantly read that here and then others say it's a myth. Is there somewhere official where it use to state that $5000 was the minimum?

What's the E stand for in the WEMC - elite? What's the difference between the two?

Re: How do you know when you have a World Mastercard?

Shock — Fri, 14 Mar 2014 06:31:53 GMT

Elite has even more perks. But again, WMC or WEMC, I don't think the added benefits would really apply to the average cardholder, even aside from the NPSL thing,

Re: How do you know when you have a World Mastercard?

Shock — Fri, 14 Mar 2014 06:34:28 GMT

@Anonymous wrote:
@Shock wrote:
Haha, just seems to defy logic. I'd put my own monthly spend at around 8 or 900 bucks. But then again I'm not married nor do I have a family..and even then, 5k seems like a stretch.
Basically, not everyone has the same life style! A family of four or five, who shop for groceries at places like Whole Foods, eat out at nice restaurants fairly frequently, travel every so often, buy clothes, pay vet and doctor bills etc, it's very easy to exceed $5K a month, at least in some months if not every month.

I know. But just to nitpick, eating out at restaurants frequently and buying groceries are mutually exclusive! lol..not really I know. But one would not need to buy many groceries if they ate out all the time. Unless you count household items like tolet paper, paper towels, toothpaste, etc groceries.

Re: How do you know when you have a World Mastercard?

CreditMagic7 — Fri, 14 Mar 2014 09:25:56 GMT

What's your guys take regarding World Elite MasterCard by Capital One with a 600 starting limit?
That's right. Looks like the 5000 base limit on these cards are just a myth.