It's a 20k limit spark card. I didn't expect it to come as a signature.
does the signature have decent extra benefits or are they all pretty much the same at this point
Being that it's $20k, I'm not surprised. Generally (in the past, not so much now, though some issuers still follow the "tradition"; I believe Cap One is one of them), any card $5k or more would be issued as a Visa Signature. I'm not sure on the elevated benefits, but a quick chat/call with them (or check your paperwork that came with the card; it should be in there too) will answer that question.
Mastercard and Visa offer banks benefits from their different package levels, ie Signature or World, etc. Just becuse a benefit is offered to a bank from the Signature package doesn't mean the bank has to purchase it for their Signature cardholders. A Signature card could be issued with only one Signature benefit. Banks can also buy benefits from providers directly without purchasing them from Visa or Mastercard ...
13Oct22 Exp F8: 812
@purebulldogs wrote:
@JLRDC909 wrote:C1 usually issues anything above 5K as a Signature, for MC it's usually the WEMC.
Not all banks follow this though. The Chase Amazon is issued as a Visa Signature, even if the CL is only $500.
It's up to the issuing bank. I have a lot of Signatures and WEMC, honestly I don't know of all the benefits. I think some is the Luxury Hotel Collection and possibly a concierge service. Each bank is different on benefits. This card might also have Travel and Trip Cancellation and Trip interruption which during these hectic travel days might come in handy.
Yeah the issuing bank seems to make a big difference. I had a $500 limit Best Buy that was visa signature. It didn't seem to have any signature benefits. It was zero balance and I tried to charge $520 on it, declined.
my capital one spark seems to be a real signature. Right now they said the computer shows I can spend 5% over the limit if needed, just my next months payment will include everything over the limit in the payment due amount. They told me over time they have seen people spend quite a bit over the limit if they prove they can handle more (most likely fiancials and bank statements etc)
when I called citi about going over the limit on the Best Buy card, they said absolutely not and wouldn't increase the limit.
Just FYI going OVER your assigned CL is one of the worst things you can do to your FICO scores outside a Late Payment. Even if only over for a short period Cap1 reports it as Over and it will ding your scores pretty hard at the time. having a 100% UTL is bad enough on any card but NEVER exceed 100% regardless if the issuer "allows it".
As to the "Signature Visa" each issuer is different and yeah it has some extra buying perks and discounts and such but nothing that special about it over a "normal" Visa card really.
