Comments on: My Chase Freedom Card Upgraded to Visa Signature Benefits

By: Harley

Harley — Wed, 17 Mar 2010 21:19:46 +0000

Chase is now profiling and discriminating to Stat at Home Moms.

Wanted to let everyone know that Chase is now profiling or discriminating to stay at home Moms. Having had a Chase savings, checking, visa debit card for 11 years and mortgage (3 years) through Chase and told I was pre-approved for a credit card. They denied me a card and stated that I needed to prove my residency and my birth with a birth certificate. I also have a credit score of 916. So I am good enough to be on 1/2 a mortgage with my husband and have my money there but not good enough to have a credit card since I only stay at home. Thanks.

By: Scott

Scott — Wed, 14 Jan 2009 05:10:21 +0000

Hello! Interesting blog.
I just received a Signature card for my Chase BP Visa card, and I have to admit I’m still puzzled by it.
1) the Visa Discounts seem the same as–or worse than–what everyone else gets! The Visa site says Signature card owners get free shipping on orders over $24 from Circuit City; well, so does everyone else, however they pay. 15% off purchases over $50 from Fogdog; the current offer for anyone is 15% *any* amount via a coupon code. The list goes on.
2) Concierge service… could you post that NY TImes article link? I’m wondering how the service is any better than just using Google. If it’s worth something… bad timing–I just came back from a trip it might have been handy for.
3) I already have a paid Zagat membership, and what they give you with the Signature card is decidedly worse. It’s not an actual membership, it’s the ability to search reviews–through the Visa site via a much clunkier interface that at Zagat. Signature dining offers are otherwise a snooze.
4) Roadside dispatch initially sounds good: “24-hour referral dispatch network that responds when you need emergency roadside assistance…” Hey, grea… uh, scratch that. “All fees conveniently billed to your Visa card.” Guess I’ll keep my AAA.

By: Paul

Paul — Sat, 09 Aug 2008 15:41:57 +0000

Signature/World upgrades are done by credit card companies, especially for cards with rewards, because the higher level card you have (Classic, Gold, Platinum, Visa Signature/World MasterCard) the higher the fee they collect from a merchant accepting your card for a purchase. So, if you have a Visa Classic and you go to Chili’s, Chase would only get a small fee from Chili’s, but if you use your Visa Gold they get a higher fee and so on until you get to Signature-the highest level and highest fee. This is because most people pay their balances in full on rewards cards so the credit card companies need to be able to make money to give free rewards away.
Also, even though there is “no preset limit” you still should have your original credit limit on the account which allows you to spend up to the limit and make minimum payments on that limit, however, most Signature/World cards have “expansion (i.e. no preset limit)” that in many cases allows spending up to double your credit line (ex $10,000 limit can allow up to $20,000 in spending) the catch is that anything over your limit would be due in full. (ex $10,000 limit and you spend $15,000, you will get a bill for 5% of the $10,000 (limit) and an additional $5,000 for your over limit so your minimum due would be $5,500.)
I have a Citi Dividend MasterCard (LOVE it) and they tried to upgrade me to a World version but I declined it.

By: Dan

Dan — Fri, 13 Jun 2008 20:00:30 +0000

Thanks for reminding me that I wanted to opt-out of this upgrade. I am not found of the words “credit line”).

That aside, I still love this rewards card. We just bought our Wii with our first $200 (cashed to $250) in rewards!

By: Cap

Cap — Tue, 03 Jun 2008 23:02:00 +0000

Andrea: Faster access to overpriced beer = scored.

Jodi: Wow, slightly embarrassed that you remember that helicopter (and possibly golden toilet) fixation.

Bill: I’m fairly certain I still have a credit line, in that when I login, I’ll still see a credit line being shown (my Chase World Mastercard still has a credit line shown, even though it supposedly doesn’t have pre-set spending limit).

Generally, when I travel abroad, I’ll give the card company a call before I leave, letting them know that I’ll be at certain country during certain time frame. I do the same thing before I make a large travel related purchase too (airfare, hotel booking), as I’ve experience instances where my travel booking were decline since there’s suddenly a $5,000 charge etc.

I try and avoid credit card transaction abroad though, as I don’t have any card with low foreign transaction charges (2% is my lowest via my Amex Blue). What I do, like many others.. is take my ATM card that has same network in the country I travel to, so I can get favorable currency exchange rate by withdrawing cash from the ATM. Even if the transaction charges me a fee (or two), the rate is generally better than those offered by currency exchange places.

By: Bill

Bill — Tue, 03 Jun 2008 17:28:02 +0000

I was leery of the “no credit limit” line. To me this means your on travel in a foreign country and you decide to buy somethng expensive…oops sorry the charge is denied? Why? Are you going to hassle with it or or you going to pull out the trusty old Card with a credit limit and buy the thing.

Even better what happens if they deny and you the card for an emergency. I don’t like it. A card with a nice big limit and no balance makes me fell better.

By: Jodi

Jodi — Tue, 03 Jun 2008 03:00:43 +0000

cool! no limit! now you can buy that helicopter (I remember from a previous post)

By: Andrea

Andrea — Mon, 02 Jun 2008 16:46:22 +0000

This weekend I went to a concert at the Greek Theater in Berkeley, CA. At this venue, there were several perks for people with Visa Signature cards. The person I went with had one, and got a free seat cushion (the seating there is a concrete ampitheatre). She also could go in a special concession line for only Visa signature people. We didn’t have to wait to buy our overpriced beer! So there are a few other perks out there with your new card status….

By: Cap

Cap — Mon, 02 Jun 2008 14:50:27 +0000

woops you’re right billy, that’s 1.25%. fixed, thankss!

By: billy

billy — Mon, 02 Jun 2008 11:58:28 +0000

would that be 1.25% instead of 1.75% cash back?

By: SP

SP — Mon, 02 Jun 2008 07:16:30 +0000

I have this card. My credit limit is never reported properly, but i definitely have a limit. Weird.

One key feature that you should look into is a warranty manager or something like that. If you plan on buying something expensive and electronic that comes with a warranty, buying it with this card automatically doubles the warranty.

By: Cap

Cap — Mon, 02 Jun 2008 03:29:52 +0000

katie: thanks for the link love and concern!

I know what you’re talking about as I’ve read it before too. This particular picture should be okay though, as it wasn’t a simple blurring out of the numbers. The numbers have actually been removed already and painted over with similar colors, but I left the blur effect just because it looked a bit easier on the eyes. Haha. I was being picky, I suppose.

Having said that, I don’t make a habit of blurring numbers on checks or screen shots w/ account numbers that can be easier to reverse engineer.

Good reminder regardless, as you’re right of course — better be safe than sorry. Thanks!

By: katie t.

katie t. — Mon, 02 Jun 2008 03:11:10 +0000

hey, i love your blog, i link to it on my blog sometimes, great advice!
i just wanted to mention though, on that picture of your credit card–i read somewhere that people can figure out the numbers if they’re blurred out, through photoshop or something. so instead of blurring them out you should just black out the numbers to protect yourself from identity theft. you’re probably fine, but better safe than sorry!