What happens if you lower Visa Signature credit limit below $5k?

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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What happens if you lower Visa Signature credit limit below $5k?

Postby Bksuper » Tue Oct 16, 2012 9:27 pm


I read that all Visa Signature cards have a minimum of $5k limit. My mom and I were approved for a joint Amazon Rewards Signature card with a $10k limit for me to use, manage, and build credit with (was declined before becoming joint owner w./ her), but before we know about DUR she decided to have the limit lowered the limit to $1k (later raised to $2k) to cap her liability for my purchases.

We did not make that mistake on the new US Bank Cash+Visa signature I'm also joint on, but because Visa Signature Cards have a $5k credit limit (or so I recently read), does that mean the Amazon card won't be renewed as signature when it expires or even has lost signature status already?
Sole Ownership Cards:
1st Financial Bank Platinum Student Visa, $500 CL, Open Since 3/2012
Citi Forward Student Visa, $6k CL, Open Since 10/2012
Costco TrueEarnings Amex, $6k CL, Backdates to 1/2012
SallieMae Rewards Barclay Mastercard, $2.5k CL, Open Since 4/2013
Jointly Owned Cards (co-owner with mom, not AU, used and paid only by me):
Chase Amazon Rewards Visa Signature, $2k CL, Open Since 8/2012
US Bank Cash+ Visa Signature, $13.5k CL, Open Since 10/2012
Authorized User (Parents Pay/Use)
Costco TrueEarnings Amex $29.4k CL, AU since 11/2012

CC Deville
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Postby CC Deville » Wed Oct 17, 2012 9:41 pm

Visa and MasterCard have since loosened their standards for Visa Signature and World MasterCard. It used to be that each required a $5K minimum credit line but now it seems to be up to the issuing bank. I know that BofA requires $5K for both and at least initially, Chase does as well. Citibank has been issuing $1K+ limits on World MasterCards for years.

The best way to find out about the Amazon card is to call Chase and ask. They should have already sent a new card sans the Signature logo along with an updated Platium benefits pamphlet to replace the Signature pamphlet that came with the card if they actually downgraded the account. It is likely that they will just keep it as a Signature. Keeping your account at signature is good for them as they earn a higher swipe fee with the Signature card.

Signature and World don't really mean anything anymore. They have been watered down. MasterCard has World Elite and we are still waiting for Visa to introduce something higher than Signature.

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Postby Nick21 » Thu Oct 18, 2012 1:46 am

CC basically nailed it, both brands perpetually water down their premium card tiers and then introduce newer ones. It's an ongoing cycle that doesn't appear it will ever stop. I remember when World was $10k+, and now some issuers can go as low as $1k. Even World Elite is dilluted in that people with low usage can qualify or outright apply for one. Visa will probably introduce Visa Infinite here soon but even that is now widely available in some markets.

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