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Thanks Craig. Having the Signature version is a great advantage. I hope others realize this also.

longwood8 said: I have two of these cards (one for me, one for the wife) Assuming I get the letter, my plan will be to set up auto charging of no more than three categories of bills to each card. Example, card 1 gets insurance, ezpass, and cable. That gets me 3% on items I was getting only 2% (thanks to a grandfathered fidelity card) previously. Stick the cards in the drawer, auto billpay them, and enjoy the extra 1%.

We knew it was coming, just make the best of it.


Is that how it works? Or does the 3% only apply to the top 3 of the 15 available categories?

Use the Concierge Link if you get switched...nice stuff provided on that site once you register.

nomansland said: I have a Citi Dividend Platinum Select card converted from AT&T Universal Reward card. Received a letter with a new card yesterday and saying I am still getting 5% Cash Back on everyday purchases. I am happy Chase will pay me 3% Cash Back for the top 3 spending categories besides everyday purchases



I just received my new card apparently sill getting 5% gas groceries pharmacy

what is the difference between freedom regular and signature?

longwood8 said: I have two of these cards (one for me, one for the wife) Assuming I get the letter, my plan will be to set up auto charging of no more than three categories of bills to each card. Example, card 1 gets insurance, ezpass, and cable. That gets me 3% on items I was getting only 2% (thanks to a grandfathered fidelity card) previously. Stick the cards in the drawer, auto billpay them, and enjoy the extra 1%.

We knew it was coming, just make the best of it.


Insurance is not one of the "everyday" categories?

Scott, what is the website for the AMEX bill pay for your blue card. I got something in the mail about it but tossed it without reading it because I have gotten tons of things in the mail from AMEX blue telling me that I can pay my bills with the card but didn't have a specific website.

taewlee said: what is the difference between freedom regular and signature?

I know Visa Signature cards are one of the only cards that let you buy extended warranties through the credit company on refurbished products. Very cheap warranties with good coverage.

Signature Benefits
Bottom of the page has the navigation section.

I just got the Chase Freedom recently. Do I get the same 3% in the top 3 categories from 15 as former Cash Plus Rewards? Or just 3% on gas, quick service restaurants, and 1 other categorygas

I wonder what the odds are they'll offer another huge $250 bonus for getting the Freedom card? If it's good odds, I might want to fight the move to convert to a Freedom card, and preemptively convert to some other program.

danboris said: taewlee said: what is the difference between freedom regular and signature?

I know Visa Signature cards are one of the only cards that let you buy extended warranties through the credit company on refurbished products. Very cheap warranties with good coverage.

Signature Benefits
Bottom of the page has the navigation section.


Thank you for the information. Unfortunately, I'm not a fan of extended warranties. Are there any other benefits to going signature?

taewlee, best thing to do is to read about it on the visa website...go to the section about signature benefits and decide if you want it or not....
I think it's nice to have, and i have it.....

craig10x said: taewlee, best thing to do is to read about it on the visa website...go to section about signature benefits and decide if you want it or not....
I think it's nice to have, and i have it.....

are there any fees for the signature visa?

taewlee said: danboris said: taewlee said: what is the difference between freedom regular and signature?

I know Visa Signature cards are one of the only cards that let you buy extended warranties through the credit company on refurbished products. Very cheap warranties with good coverage.

Signature Benefits
Bottom of the page has the navigation section.


Thank you for the information. Unfortunately, I'm not a fan of extended warranties. Are there any other benefits to going signature?


Chase Freedom gives 3% CashBack on gas, quick service restaurants, and groceries.

Chase Freedom Signature gives 3% CashBack on top 3 of 15 everyday categories you spend the most on, every month; kind of like RBS CustomCash.

Anakin

Joe1690 said: Scott, what is the website for the AMEX bill pay for your blue card. I got something in the mail about it but tossed it without reading it because I have gotten tons of things in the mail from AMEX blue telling me that I can pay my bills with the card but didn't have a specific website.
You can enroll Here
Is this something new for AMEX? If it is maybe it needs it's own thread. Will be nice to get 1.5% back on things like my insurance. Will now hit the $6,500 quickly as I picked up my new car last night and dealer let me put $5k of it on my Blue

taewlee said: Thank you for the information. Unfortunately, I'm not a fan of extended warranties. Are there any other benefits to going signature?

So buying a refurbished product for a huge discount (which in my personal experience (2 laptops, plasma, ipod) the item has always been in mint condition) with the option of upgrading the warranty (if necessary) isn't appealing? Hm, hope my parnetheses aren't too confusing. To me, that in itself is a good enough benefit to getting a Visa Signature. Come into the light!

Try to think of all those times we were going to buy something only to be deterred by that pesky 90 day warranty.

mickcris....no fees for a freedom signature card....usually the only signature cards that have fees are the ones tied to a frequent flyer milage program (and even platinum versions of such cards usually have fees)....

You do get more "perks" with signature then platinum...it's considered a bit more of a prestige card (lol)...You get more Visa benefits (which you can read about at Visa's website)....and no preset spending limit...which means that if you have, say a credit line of $8,000 and decided one month to spend $10,000 you could do it, and wouldn't have to call Chase to see if you could get "permission" to do so...

Sometimes, you will get e-mails from Chase with special offers just for signature customers, like say, 2 free movie tickets to a movie premier, things like that..

Note: you do have to have a credit line of at least $5,000 to qualify (or convert to) a visa signature card...

anakinskywalker said: Chase Freedom gives 3% CashBack on gas, quick service restaurants, and groceries.

Chase Freedom Signature gives 3% CashBack on top 3 of 15 everyday categories you spend the most on, every month; kind of like RBS CustomCash.

Anakin
Thanks for indirectly answering my question.

So now I have to find out if I can convert.

Edit: I would suspect a WalMart to be a Department store, but how about a Super WalMart?

craig10x said: You do get more "perks" with signature then platinum...it's considered a bit more of a prestige card (lol)...You get more Visa benefits (which you can read about at Visa's website)....and no preset spending limit...which means that if you have, say a credit line of $8,000 and decided one month to spend $10,000 you could do it, and wouldn't have to call Chase to see if you could get "permission" to do so...

Is this one of the card types that will not report the credit limit like the "World" cards? There's been a lot of discussion about this in a Citi Dividend card thread (users switched from Platinum -> World) and the consensus there was that it would be a bad switch for credit reporting purposes.

that's what some say mariojm, but i have had signature for quite awhile now, and haven't found it to have any negative impact whatsoever, on my credit or getting any....i get more offers in the mail to open new cards then i know what to do with

I think people here tend to overemphasize the importance or effect of it, much as they worry about "hard pulls" which is another thing i have found to have no impact on my credit, whatsoever....especially if you have a good credit history, and pay your bill in full every month and on time (like i do)....

craig10x said: that's what some say mariojm, but i have had signature for quite awhile now, and haven't found it to have any negative impact whatsoever, on my credit or getting any....i get more offers in the mail to open new cards then i know what to do with

I think people here tend to overemphasize the importance or effect of it, much as they worry about "hard pulls" which is another thing i have found to have no impact on my credit, whatsoever....especially if you have a good credit history, and pay your bill in full every month and on time (like i do)....


Craig, it is clear that you like Signature cards and that is cool. But there may be some facts you are not aware of...

I've gotten more offers in the mail than I know what what to do with when my credit score had dropped over 100 points. Anecdotes don't mean much especially when bulk mailings might have a month or more of lag from when you were "pre-screened" until when you get the offer.

People who have paid for REAL FICO scores have seen REAL DROPS in their score when they carried small balances on their "signature" and "world" cards. There is no real way to quantify "impact" on credit other than real FICO scores.

Regarding inquiries, I've seen my FICO drop over 30 points on inquiries alone. Nothing else had changed on my report from the previous week other than inquiries. 30 points is enough of an "impact" to knock some people from prime, to a lower grade of borrowing status.

All i know is i have more credit then i know what to do with...$11,000 on my Rewards Plus Visa Signature..$5,000 on my Freedom Visa Signature...this, despite the fact that i am retired and my pension income puts me in a low income bracket range (i have a big nest egg that isn't taken into account, when you fill out a credit card application, all they ask for is income amount)...and i know i would have no problem opening whatever other credit cards i wanted, with no problem, whatsoever...but i don't need so many credit cards, anyway...so i wouldn't have such a pessimistic attitude if i were you, Scooty....

I still say that if one pays his card in full every month, and on time, it is more important then the other factors you mention...what gets you knocked out of the box, is when they see bad credit HISTORY....that's what counts more then anything else....

I hope everyone in the Chase Freedom Card thread aren't missing all this. A new Chase Signature Visa thread might even be needed.

craig10x said:

I still say that if one pays his card in full every month, and on time, it is more important then the other factors you mention...what gets you knocked out of the box, is when they see bad credit HISTORY....that's what counts more then anything else....

Increased overall utilization has a big affect on FICO. I had a $50k CL on my CITI Hilton Signature card which did not report CL. I had no need for whatever benefits the Signature offered so I had them downgrade card to a Platinum. When my new available credit hit my report lowering my utilization my FICO jumped 17 points

Wouldn't paying off in full make your utilization 0%? That is what I do. Pay in full when the account activity is posted and available.
That's what it sounded like Craig was saying, so he should have 0% at each month closing.

danboris said: Wouldn't paying off in full make your utilization 0%? That is what I do. Pay in full when the account activity is posted and available.
That's what it sounded like Craig was saying, so he should have 0% at each month closing.



I am talking about total utilization. Before I did my AoR I always showed 0 debt as I paid cards before they reported. Then I suddenly had over $130k of debt. So that bumped my over utilization up big time. So then I had to get a bunch of new credit lines to reduce utilization. By the signature card not reporting CL it did not help lower and then when I downgraded card to one that reported my score jumped. Craig does not seem very concerned about his score and I'm sure has no plans to do an AoR and at his old age he will probably croak before he did a mortgage

Scott..i'm not that old......i retired young (relatively speaking) with a bit of luck, i might have a crack at being around another 40 years or more....

By the way, not that i really care that much about it, but i just ordered up the 3 credit bureau reports that you are entitled to get each year through that special website....although they don't include the fico score, i was curious to see if that was really true that signature card's credit lines aren't reported....

Though i still say what counts most is that you have a good credit history, not the other factors mentioned....

craig10x said: Scott..i'm not that old......i retired young (relatively speaking) with a bit of luck, i might have a crack at being around another 40 years or more....

By the way, not that i really care that much about it, but i just ordered up the 3 credit bureau reports that you are entitled to get each year through that special website....although they don't include the fico score, i was curious to see if that was really true that signature card's credit lines aren't reported....

Though i still say what counts most is that you have a good credit history, not the other factors mentioned....


I'm not sure why it is relevant "what counts most". No one ever said credit limits not reporting is "what counts most".

By the same token, "what counts most" in saving for retirement is contributing to your 401(k) and getting matching.

Therefore by your logic it is "cool" to light $10 on fire every day because it doesn't matter as much as my 401(k) contributions.

The important point is credit limits not reporting is substantial and tangible to changing your credit score in a meaningful way.

By the way I'm still waiting to hear back about that 2002 Cash Plus Rewards card you have and why having a card for 1 year of regular status and 1 year of grandfathered status is better than 4.5 years of regular status.

craig10x said: ..(i have a big nest egg that isn't taken into account, when you fill out a credit card application, all they ask for is income amount)...
Forgive me if I'm prying, but doesn't your nest egg generate income? How can you say that your accumulated savings isn't at least indirectly taken into account on your applications?

mh83...actually, you are right, but i never bother to mention it, just my actual pension income, unlike Scooty, despite my non-concern about FICO, Credit Line Reporting and "Hard Pulls", etc...i don't seem to find any problem getting all the credit i want, even with my "signature cards"...once again, it's because in all my years of credit cards, i pay my bill in full and on time every month....

scooty, the point isn't that you had the Citi card longer and that makes it better then Chase doing grand fathering...Chase has, from what i hear, always done that, even on rewards programs that were around alot longer then Cash Plus and Rewards Plus have been...And Rewards Plus is BETTER then Citi Dividend...points don't expire for 5 years, and you can get $600 Cash Back per card...(and that's per card..you were able to have more then 1 and each was treated seperately!)...

I could go on and on...but maybe by now you finally got the point...though, i suspect, you didn't.....Just a shame that, no doubt, Rewards Plus will also be coming to an end now as well...

It is still a much more "consumer-oriented" credit division the what you get at Citi IMHO.....
As long as i call in the daytime (thus avoiding the India csrs) i have always found them to be super accomodating about increasing credit lines, changing rewards programs, upgrading from platinum to signature, etc....Did not have the same friendly and accomodating experience when i was with CITI....

.but maybe by now you finally got the point...though, i suspect, you didn't.....

So if I don't agree with you I don't get the point?

I understand what you are saying but I disagree on what makes one "friendly".

Being able to ask for a credit line increase without a hard credit pull? Friendly (aka Citi)

Having to have a hard pull on every credit line increase? unfriendly (aka Chase)

Having years and years of 5%? friendly and profitable (Citi)

Having just under/over 2 years of 5% grandfatehered or not? Unfriendly (Chase)

Having years and years of no balance transfer fees? friendly (Citi)

Having 3% uncapped or $75 BT fees? unfriendly (chase)

Requiring a direct deposit for the most basic checking account? unfriendly (chase)

Giving me 9,600 TY points a year just for having my Citi accounts on automatic? friendly (citi)

Stating facts? Scooty

Making up facts (Cash Plus came out within a year of Dividend)? Craig

Maybe now you understand although I doubt it.

The thing is, I actually use Chase for my every day checking and have 3 credit cards with them. Despite what you say I don't like one over the other. In my opinion Citi has much more agreeable terms than Chase on a vast majority of its products.

Regarding having enough credit, I have 2.5 times my income in credit lines. I'm going to make $4,000 this year on those lines. If I had 5 times maybe I would make $8,000. Having "enough credit" is like having "enough money". I don't have enough of either.

boy, you throw everything into the mix...i never said i cared for Chase for banking...only the credit card division, yet you bring in things about Chase vs Citi for banking...And i didn't make up a lie about how long these Chase rewards cards have been around...i thought they had, so ok...i was mistaken...to you that is lieing or making something up....to most people a mistake is a mistake...but since you have to be right always..that's the way you view things....

You have alot in common with someone else on FW (who will go unnamed) who always believes he must win the arguement....it's been my experience that with someone like that, you might as well bang your head against the wall, and it would be more productive

So, there really isn't any point in continueing this discussion....i will retire with my pistol and you can retire with yours, and let the "duel" end...

craig10x said: boy, you throw everything into the mix...i never said i cared for Chase for banking...only the credit card division, yet you bring in things about Chase vs Citi for banking...And i didn't make up a lie about how long these Chase rewards cards have been around...i thought they had, so ok...i was mistaken...to you that is lieing or making something up....to most people a mistake is a mistake...but since you have to be right always..that's the way you view things....

You have alot in common with someone else on FW (who will go unnamed) who always believes he must win the arguement....it's been my experience that with someone like that, you might as well bang your head against the wall, and it would be more productive

So, there really isn't any point in continueing this discussion....i will retire with my pistol and you can retire with yours, and let the "duel" end...


Notice how I made a dozen or more points and you didn't address a single one or bring any facts of your own. Instead you focus on me and Dolmar. It is really sad that you don't want to discuss finance topics but insist on focusing on people and whether certain points fit YOUR narrow definition of what YOU think should be talked about.

the answer is simple, because any thing i say you will automatically counter balance with something opposite...every point i make you try to discredit, so there is no point in discussing anything with you here, unfortunately, because you will always throw a post back showing how "superior" your knowledge is on any thing i discuss....your comments are`alway right and mine are always wrong, according to the "scooty" philospophy...and that is why it is pointless for me to comment anymore....

Well, as you said, at least you did agree with me in the other thread, about likeing ramen noodles, i will give you that

Sorry to interrupt, but can arguments go to PMs? It makes the thread hard to follow at time. Thanks.

Now back on topic...any word on the Rewards Plus Cards? When my Rewards Plus Visa if/when is changed to Freedom, I have heard I can call and convert to Freedom Signature?

absolutely! danboris.....i have rewards plus and have not got any notification as of yet...if anyone does, please post to the thread....Although i have to assume that if Chase is eliminating 5% Cash Plus and converting the cards to Freedom, then Rewards Plus can't be far behind, and i guess most of us expected it to happen eventually....maybe they are just doing Cash Plus first, so you may get a bit more time on your Rewards Plus card....

In any event, when you do get converted, you don't lose the points, they get transferred to your new Freedom Card....and you can convert a Freedom Card to signature version (i did so as i previously mentioned) on the phone, although when you do so, they have to issue a new card with a new account number.....probably best to wait until you get the new Freedom, wait about a month, then make your conversion to signature....

craig10x said: .. you don't lose the points, they get transferred to your new Freedom Card...

Not sure if anyone mentioned this...but this can be a last sweet Cash Back by charging as much as you can (buying gift card...etc.) and then you can redeem 200$ for 250$ w/ the new freedom rule, making an overall Cash Back around 6%+.

Those of you who have gotten the letter, is the new rewards program subject to the $600 limitation that the current Freedom card has? Currently, only the first $600 in the whatever categories get 3%.

vyshnya said: Those of you who have gotten the letter, is the new rewards program subject to the $600 limitation that the current Freedom card has? Currently, only the first $600 in the whatever categories get 3%.
Yes, it has the same limitations. It is stated on the back of the letter. This sucks BTW, but I did know it was coming some day. I'll just be limiting the use of this card much more.

I still haven't received the letter for my Cash Plus card which was opened last September. I am wondering if Chase is doing a phase-out like Citi Dividend in which cardmembers received letters at different times.

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