Requirements for Chase Freedom Visa Signature upgrade?

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
dragon452
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Postby dragon452 » Fri Jul 18, 2014 7:22 pm

I don't think there are any hard rules regarding the "Signature" Visa tier anymore. It seems to depend on what bank you deal with, and how they are feeling on the day you request the upgrade. From newcomers just entering the credit market who receive a Signature card with a $1,000.00 credit line, to people like me, who have $25,000.00 + credit lines, FICO scores never dipping below 800 and a perfect 40 year payment history across the board yet NEVER being offered one, instead having to request one specifically. This "Signature" tier eligibility makes no sense. BTW, getting an Elite MasterCard makes even less sense, from simply sending in an application and getting it from one bank, to being told "you CANNOT request one, you must be [I]selected by our system [/I]to receive it, or you don't get one" from a different bank. Go figure.


supercoolman
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Postby supercoolman » Sat Jul 19, 2014 1:23 am

dragon452 wrote:I don't think there are any hard rules regarding the "Signature" Visa tier anymore. It seems to depend on what bank you deal with, and how they are feeling on the day you request the upgrade. From newcomers just entering the credit market who receive a Signature card with a $1,000.00 credit line, to people like me, who have $25,000.00 + credit lines, FICO scores never dipping below 800 and a perfect 40 year payment history across the board yet NEVER being offered one, instead having to request one specifically. This "Signature" tier eligibility makes no sense. BTW, getting an Elite MasterCard makes even less sense, from simply sending in an application and getting it from one bank, to being told "you CANNOT request one, you must be [I]selected by our system [/I]to receive it, or you don't get one" from a different bank. Go figure.



you can apply for card with only Signature or World Elite. you'll get tier as long as you are approved

randeman
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Postby randeman » Sat Jul 19, 2014 9:39 am

dragon452 wrote:I don't think there are any hard rules regarding the "Signature" Visa tier anymore. It seems to depend on what bank you deal with, and how they are feeling on the day you request the upgrade. From newcomers just entering the credit market who receive a Signature card with a $1,000.00 credit line, to people like me, who have $25,000.00 + credit lines, FICO scores never dipping below 800 and a perfect 40 year payment history across the board yet NEVER being offered one, instead having to request one specifically. This "Signature" tier eligibility makes no sense. BTW, getting an Elite MasterCard makes even less sense, from simply sending in an application and getting it from one bank, to being told "you CANNOT request one, you must be [I]selected by our system [/I]to receive it, or you don't get one" from a different bank. Go figure.


Who's Elite MasterCard, just out of curiosity?
Cards and Credit lines Acquired:

Escape by Discover (7.75K), Barclay Holland America Visa (7K), Macy's store card (7K), Bloomingdale's store card (2.6K), Citi Custom Credit Line (3.5K), PayPal Smart Connect credit line (2.7K), Chase Freedom Visa (5K), Chase United MileagePlus Visa (5K), Chase Sapphire Preferred Visa (6K), Amazon store card (2.2K), Lord & Taylor store card (550), Nordstrom store card (1500), Gold Delta SkyMiles from American Express (3K), Discover It (6.5K), PayPal Credit Line (1K).

dragon452
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Postby dragon452 » Sat Jul 19, 2014 12:37 pm

supercoolman wrote:you can apply for card with only Signature or World Elite. you'll get tier as long as you are approved


You are correct, it is that easy for a new application. But a product upgrade from an existing regular Visa to a signature Visa requires some sort of eligibility process, and if you don't actually ask for an upgrade, you probably won't get one even if you qualify (this is my personal experience). But regardless, the main question is "what are the requirements for a Visa Signature upgrade"? Seemingly, the answer, as evidenced by the variety of responses, is: totally subjective on the part of the bank you are dealing with. Please read my response to randeman, below.

supercoolman
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Postby supercoolman » Sat Jul 19, 2014 12:48 pm

dragon452 wrote:You are correct, it is that easy for a new application. But a product upgrade from an existing regular Visa to a signature Visa requires some sort of eligibility process, and if you don't actually ask for an upgrade, you probably won't get one even if you qualify (this is my personal experience). But regardless, the main question is "what are the requirements for a Visa Signature upgrade"? Seemingly, the answer, as evidenced by the variety of responses, is: totally subjective on the part of the bank you are dealing with. Please read my response to randeman, below.



if your goal is to obtain higher tiers, why do you insist on upgrade path if they won't give it to you? it's well known that upgrade tier is a very hard path and you can only get it by luck. lots of people had tried it if you search

dragon452
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Postby dragon452 » Sat Jul 19, 2014 12:52 pm

randeman wrote:Who's Elite MasterCard, just out of curiosity?

In my observations, Barclay Bank and Citibank will issue an Elite MasterCard to many people who would normally qualify for a regular one. On the other hand, at Capital One (13 year continuous account with perfect payment history, and already a "World" MasterCard account) says that NOBODY can apply for or request an Elite card. If the system does not approve you, then you don't get one. Period. Also, the Capital One C.S. lady could not even find the stated requirements for getting the upgrade! That's why I'm saying, banks are getting more subjective as far as their requirements for credit. And not just for unsecured credit cards either. Thanks for asking!

dragon452
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Postby dragon452 » Sat Jul 19, 2014 1:04 pm

Its not my "goal" to obtain higher tiers. I would never insist that American Express upgrade me from a Platinum Card to a Centurian Card, for example, because I simply don't qualify. My observations from this post, and others is that tier upgrades (not from the bank, but from the Visa and MasterCard Networks), are practically given out to some new applicants (like Signature Visas and Elite MasterCards), while others with decades of perfect credit are told they cannot request one for any reason: its something that the "system" has to approve you for or you don't get the upgrade at all. I want what I'm entitled to after 40 years of maintaining a perfect credit history, and the Elite MasterCard should be within my reach. Again, its the banks that are being inconsistent, and evidenced by the different answers to this thread. Thank you.

supercoolman
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Postby supercoolman » Sat Jul 19, 2014 1:43 pm

dragon452 wrote:Its not my "goal" to obtain higher tiers. I would never insist that American Express upgrade me from a Platinum Card to a Centurian Card, for example, because I simply don't qualify. My observations from this post, and others is that tier upgrades (not from the bank, but from the Visa and MasterCard Networks), are practically given out to some new applicants (like Signature Visas and Elite MasterCards), while others with decades of perfect credit are told they cannot request one for any reason: its something that the "system" has to approve you for or you don't get the upgrade at all. I want what I'm entitled to after 40 years of maintaining a perfect credit history, and the Elite MasterCard should be within my reach. Again, its the banks that are being inconsistent, and evidenced by the different answers to this thread. Thank you.


http://bit.ly/1nJ52sM

randeman
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Postby randeman » Sun Jul 20, 2014 1:43 am

OK. I knew about Barclay, I didn't know if there are any others that offer an Elite. Thanks for the info.
Cards and Credit lines Acquired:

Escape by Discover (7.75K), Barclay Holland America Visa (7K), Macy's store card (7K), Bloomingdale's store card (2.6K), Citi Custom Credit Line (3.5K), PayPal Smart Connect credit line (2.7K), Chase Freedom Visa (5K), Chase United MileagePlus Visa (5K), Chase Sapphire Preferred Visa (6K), Amazon store card (2.2K), Lord & Taylor store card (550), Nordstrom store card (1500), Gold Delta SkyMiles from American Express (3K), Discover It (6.5K), PayPal Credit Line (1K).

supercoolman
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Postby supercoolman » Mon Jul 21, 2014 12:35 am

CO offers elite on new app as well, but you will be betting on luck



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