Requirements for Chase Freedom Visa Signature upgrade?

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
23 posts
MemberSince99
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Postby MemberSince99 » Mon Jul 21, 2014 5:43 am

They've always been that way. It's always YMMV. If there is truly ONE thing you learn about the topic of credit cards, it is that your buddy may well be treated totally different by the same company than you will be treated even if you have profiles that seems pretty similar.


In the end being they are for profit corporations it must come down to their feeling of how profitable a customer you may be for them in terms of what they give you. They aren't doing business with you because they have to, or out of the goodness of their hearts, but to make money. So it has to be based on the potential profitability vs liability they envision. I've dealt with a lot of lenders since I started playing the credit card game again in 2010, and some of them I found to really love me and warm to me, some were just indifferent, and a few just didn't really seem to care if I was a customer. Of my current lenders Amex and Associated seem to love me and Chase is just kind of indifferent (better than not wanting my business). I can't blame Chase though - I don't use the Freedom card much and even though it's 5% on gas this quarter I use Amex at the pump anyway. So if I don't use it on the 5% categories, when would I use it.


Anyway it really is always YMMV.


flan
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Postby flan » Mon Jul 21, 2014 10:50 pm

MemberSince99 wrote:They've always been that way. It's always YMMV. If there is truly ONE thing you learn about the topic of credit cards, it is that your buddy may well be treated totally different by the same company than you will be treated even if you have profiles that seems pretty similar.


In the end being they are for profit corporations it must come down to their feeling of how profitable a customer you may be for them in terms of what they give you.


There's no "feeling" with the bank. They're doing things in a way that they think will make them the most money. So the differences between you and your buddy matter. You might not think they'd matter, and some of them might not matter much. But lots of credit decisions are binary: you either qualify, or you don't. If the internal system is such that anyone with a score of 700 gets the signature card, and anyone with a score of less than 700 doesn't, and your buddy has a score of 701 and you have a score 699, he gets it, you don't. Those two points could be from something you think of as inconsequential, like he's had the same address for 5 years, and you've only been in your place a year, or that your debt-to-income ratio is *worse* than his (because at some ranges, it increases the amount you'll pay in interest.). It looks random and capricious to the outsider, but there's a system to it.

(I'm not saying I think the banks are actually very good at this, just that they think they are. They're not at all the same thing.)

creditman
 
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Postby creditman » Thu Sep 04, 2014 8:59 am

I don't normally respond to threads but I wanted to let everyone know my experience.

I had a 750+ credit score, 8K+ limit on my freedom card, and the card had been opened for several years. Even with all this, I tried calling in multiple times to the credit card center and every time they said they don't offer a Visa Signature upgrade option. The CSR kept trying to get me to switch cards to some other Visa Signature card, but then I would lose the 5% rotating categories cash back portion.

I ended up looking on this site and sending an email to the Chase Executive Office (executive.office@chase.com.) like someone mentioned in an earlier post. It took some time to get a response, but when I did, the CSR there basically sent my case into review and upgraded me to a Visa Signature Freedom card on the spot. This CSR was operating in the CST time zone and they leave at 4:30PM, so it can be a little challenging if you work, especially if you live in the PST time zone like me.

Good luck!



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