Signature Visas vs "Regular" Visas

[Anonymous]

Do you have both like I do? Do you make purchase decisions based on if the card is Signature or regular? How about World Elite Mastercard vs Mastercard? I have been doing my due diligence on this topic and still wonder when to use the Signature and/or World Elite. Also, are regular Visas ever "updated" to Signature Visas? Just curious if anyone knows if that happens. Thanks, in advance, to anyone who responds.

[Anonymous]

All I care about is the reward that card offers. Who cares if its visa, sig, infinite, etc...

If you care about the merchant then I suggest plain visa cause that sig cost more in transaction fee to the merchant.

[takeshi74]

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@Anonymous wrote:

Do you have both like I do?

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Yes.

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@Anonymous wrote:

Do you make purchase decisions based on if the card is Signature or regular? How about World Elite Mastercard vs Mastercard?

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No,  The tier is irrelevant.  Decision is primarily based on rewards on my spend.  I'm not forgoing 5% on gas just to use a Signature card.

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@Anonymous wrote:

I have been doing my due diligence on this topic and still wonder when to use the Signature and/or World Elite.

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If you've done your due diligence you should have your answer. You use them when you need their benefits.  Did your due diligence include reading the paperwork that came with the cards outlining the benefits for the Signature and World Elite tiers avaialble to your cards?

[kdm31091]

I think deciding whether to use a card should have nothing to do with Signature/non Signature. They spend the same. As mentioned above, actually, if you want to "be nicer" to the merchant use non-Signature with the lower swipe fees.

But for day to day use? Makes zero difference. Signature perks are something that few people use regularly if at all and it's more about it being more "special", I guess, than anything else. People go to long lengths to get Signature Visa upgrades or WMC/WEMC. I did in the past; I got my capital one upgraded to Signature. Was a waste of time and effort as the benefits don't really matter for me.

I don't think anyone should lose sleep over the signature/wemc/etc thing. If one of the benefits actually becomes useful for you, great, but expect that 98% of the time, you won't be using them, and the difference is larely irrelevant except for pride purposes (and even then it's up for debate how much you should really care).

[Anonymous]

I think the only two significant benefits of using a Visa Signature are purchase protection (cover up to $500 within 90 days to loss/damage) and lost/delay luggage reimbursement. Worth considering purchasing your shinny new phone or airticket using a visa signature (if value of rewards are the same, for example, buying phone using Freedom vs CSP).

MC vs WMC and WEMC: same consideration.

[Anonymous]

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@Anonymous wrote:

I think the only two significant benefits of using a Visa Signature are purchase protection (cover up to $500 within 90 days to loss/damage) and lost/delay luggage reimbursement. Worth considering purchasing your shinny new phone or airticket using a visa signature (if value of rewards are the same, for example, buying phone using Freedom vs CSP).

MC vs WMC and WEMC: same consideration.

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That is exactly what I took away from all I have read. I haven't even been noticing what I use, really. I am more interested in the rewards, which I do notice. Just curious about the whole Signature WMC thing. 

[Anonymous]

Thanks everyone for your responses. 

[kdm31091]

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@Anonymous wrote:

I think the only two significant benefits of using a Visa Signature are purchase protection (cover up to $500 within 90 days to loss/damage) and lost/delay luggage reimbursement. Worth considering purchasing your shinny new phone or airticket using a visa signature (if value of rewards are the same, for example, buying phone using Freedom vs CSP).

MC vs WMC and WEMC: same consideration.

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Technically if you are wanting the price protection, then focus on that and forget rewards. Even if you're getting 1% vs 5% on a $600 phone, the extra 4% wouldn't make up the difference you'd have to pay if you didn't have the price protection. So the rewards being equal may not be as important if it's a big ticket purchase you want to protect.

[Anonymous]

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@kdm31091 wrote:

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@Anonymous wrote:

I think the only two significant benefits of using a Visa Signature are purchase protection (cover up to $500 within 90 days to loss/damage) and lost/delay luggage reimbursement. Worth considering purchasing your shinny new phone or airticket using a visa signature (if value of rewards are the same, for example, buying phone using Freedom vs CSP).

MC vs WMC and WEMC: same consideration.

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Technically if you are wanting the price protection, then focus on that and forget rewards. Even if you're getting 1% vs 5% on a $600 phone, the extra 4% wouldn't make up the difference you'd have to pay if you didn't have the price protection. So the rewards being equal may not be as important if it's a big ticket purchase you want to protect.

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Good thought!

[Anonymous]

Freedom was my first card, and it's still a Platinum. Usually I go with the rewards-maximizing card for any transaction, but if:

1. Freedom is a close second only to EDP for that transaction.

2. The merchant is small. and unable to negotiate very low fees.

3. The merchant is genuinely trying to keep costs down and prices fair.

4. I'm familiar with the merchant and know I don't need anything like an extended warranty.

...then in those cases I will use the Platinum Visa just to keep the merchant's fees down.

In actual practice, I can only think of a wine store and a pharmacy that meet all those conditions. I don't spare mom-and-pop restaurants from Visa Signature fees.