Visa Signature - what's the hype?

[Anonymous]

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@killer_queen229 wrote:
Yes I know signature cards say that but Chase never indicated which Visa and what is Platinum?

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Platinum is the level below signature and so is the "standard"   In the (very) old days, there were standard cards, gold cards and platinum cards.   Now for most issuers there are only two types of Visa, platinum and signature.

[FinStar]

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@Anonymous wrote:

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@killer_queen229 wrote:
Yes I know signature cards say that but Chase never indicated which Visa and what is Platinum?

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Platinum is the level below signature and so is the "standard"   In the (very) old days, there were standard cards, gold cards and platinum cards.   Now for most issuers there are only two types of Visa, platinum and signature.

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+1

OP - if your CL is $3K with Freedom, it is just a Platinum level CC. 

And of course, there are still some old-fashioned lenders and CUs who still offer "Classic" and "Gold".  How times have changed!

[knhorn]

Try for the Visa Infinite or World Elite Mastercard. $25k minimums on those guys.

[enharu]

@knhorn, the world elite MasterCard can be issued for as low as 2k CL.

Visa infinite is the international / overseas version of visa signature, plus and minus some benefits.

But, visa infinite (or signature if you want to call it that) and world elite MasterCard (previously known as world insignia) are a lot more prestigious overseas. In certain countries, cards with those tiers means that it has a >=25k CL, or that the individual has >=250k personal income, etc.

In the USA however, there's no such distinctions, and visa signature or world elite mastercard means **bleep**. It's not going to impress any chicks.

Visa however seems to be rolling out a new higher end tier sometime soon. MasterCard shouldn't be lagging too far behind either.

[mxp114]

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@enharu wrote:
@knhorn, the world elite MasterCard can be issued for as low as 2k CL.

Visa infinite is the international / overseas version of visa signature, plus and minus some benefits.

But, visa infinite (or signature if you want to call it that) and world elite MasterCard (previously known as world insignia) are a lot more prestigious overseas. In certain countries, cards with those tiers means that it has a >=25k CL, or that the individual has >=250k personal income, etc.

In the USA however, there's no such distinctions, and visa signature or world elite mastercard means **bleep**. It's not going to impress any chicks.

Visa however seems to be rolling out a new higher end tier sometime soon. MasterCard shouldn't be lagging too far behind either.

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World Elite MasterCard can be issued at $500, specifically Capital One

Visa Infinite is a step above Visa Signature, it is not the same product offering.

World Signia MasterCard was the top tier MasterCard product for the European market however as of Oct 2011, MasterCard has decided to use a single branding for the top card and went with World Elite MasterCard.

Yeah, abroad they mean something but the US market? Nada lol

MasterCard is more likely to launch a new tier, as indicated by the dilution and elimination of the best benefits of the World Elite product.

[takeshi74]

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@QueenBeeOC wrote:

I get that the more prestigious cards are Visa Signatures - but I am not sure what's the hype?!

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I wouldn't use the word "prestigious" but I don't associate prestige with any card.  A card is just a card and any respect or status that I have earned has nothing to do with any credit cards.  Even so I'm not sure that others who do think that some cards are prestigious would refer to Signatures as such.  Signature is a higher tier but they're fairly ubiquitous cards these days.  As stated earlier, benefits of Signature are all on Visa's site.

[Anonymous]

The hype. For a traveler theire may be some benefit but overall I do not utilize the enhanced benefit level. Glad I have it when I do travel but for general purposes not used. Have Visa Signature and World Elite Mastercards and find when card issuers are giving such cards to $500CL's I wonder about the mystic?

[john398]

I have also heard that some merchants have to pay a higher fee for accepting these signature cards

From: http://ficoforums.myfico.com/t5/Credit-Cards/Merchant-Swipe-Fees/td-p/2196555/page/3

This is also why a number of issuers are pushing Visa Signature/MC World cards to almost everyone.   They get higher swipe fees, presumably more than offsetting the increased cost of the benefits.

[sillykitty1]

Visa Signature and WMC definitely have more value than “prestige”.  For traveling, the added benefits are huge.

Auto Rental CDW – This is a real money savings for international car rentals.  Chase just started including Ireland, Israel & Jamaica.  I’ll save about $450 on one trip to Ireland alone.

Trip Cancellation/Interruption – Trip insurance would cost me about $150 for an average vacation I take. 

Trip Delay – Meals, lodging etc. covered for any overnight delay.  As a frequent traveler, I get stranded over night at least once per year.

Lost Luggage/Baggage Delay - $100/day to cover the purchase of essentials.  This is separate from any airline reimbursement.

[Anonymous]

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@sillykitty1 wrote:

Visa Signature and WMC definitely have more value than “prestige”.  For traveling, the added benefits are huge.

Auto Rental CDW – This is a real money savings for international car rentals.  Chase just started including Ireland, Israel & Jamaica.  I’ll save about $450 on one trip to Ireland alone.

Trip Cancellation/Interruption – Trip insurance would cost me about $150 for an average vacation I take. 

Trip Delay – Meals, lodging etc. covered for any overnight delay.  As a frequent traveler, I get stranded over night at least once per year.

Lost Luggage/Baggage Delay - $100/day to cover the purchase of essentials.  This is separate from any airline reimbursement.

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The first should be available on standard cards as well (http://usa.visa.com/personal/cards/benefits/) but I can see the others might be useful (although some of these are also on lower level cards).  The complaint from some has been it is very hard to actually claim on some of these, as compared to say Amex benefits.  But I haven't done that so don't know!