Visa Cards are the cards used for payment that work under the Visa network. In the beginning, the company just started with credit cards, but with time it explored itself to include other types of cards as well such as debit cards, gift cards, etc. Different financial institutions use the company’s network by partnering with Visa. A Visa card contains a unique 16-digit account number, a microchip, and a magnetic stripe. It is a facility by which you can pay for goods and services without needing to carry cash with you and a visa card uses a visa network to make payments. It is a leading network that has cards accepted by many businesses in more than 150 countries. Any individual can avail of this facility via a variety of financial institution partnerships with visa networks. There are different types of visa cards such as visa credit cards, visa debit cards, visa gift cards, and visa prepaid cards. Each card has its significance and purpose. In this article, we will look at the tier of visa cards. It has four tiers, first and foremost which is the most basic classic, then platinum, then signature, and infinite.
Visa Classic is the most basic and provides a basic facility and visa infinite is the ultimate one. What falls between these two are visa platinum and visa signature. Let's have a detailed discussion of both the cards.
Visa Platinum vs Visa Signature
Visa Platinum and Visa Signature are one of two premium visa cards that you can use. Even though both are premium cards and have many similarities, they differ from each other too. Visa Platinum and Visa Signature both provide 24/7 customer care support and are globally accepted. In visa signature, you can also get legal assistance, medical assistance, travel insurance, and many more facilities. Visa signatures are more exclusive as they require higher credit scores than Visa Platinum and also offer many extensive rewards, travel perks, etc. Visa Signature is more premium than Visa Platinum in many areas, however, both cards provide concierge services to their customers. A Visa Platinum card can be referred to as an Intermediate card and a visa signature can be called an above intermediate card.
Difference Between Visa Platinum and Visa Signature in Tabular Form
|Parameters of comparison||Visa Platinum card||Visa Signature card|
|Card limit||Visa Platinum reports the credit limit of the card||Visa signature does not report the credit limit of your card|
|Over-limit charges||Visa platinum includes over-limit charges||Visa signature does not include over-limit charges|
|Benefits Provided||Visa Platinum provides basic benefits with a lower annual fee||Visa Signature provides many premium benefits, like concierge services, travel insurance, etc|
|Requirement of credit score||Visa platinum is less exclusive as they require low credit scores||Visa Signature are more exclusive as they require a high credit score|
|Rewards Program||Visa Platinum does not provide many rewards||Visa Signature provides many substantial rewards programs, that include cash back and travel perks.|
|Annual Fee||Visa Platinum cardholders have to pay an annual fee to banks||Visa Signature cardholders don't have to pay any annual fee|
What Is a Visa Platinum Card?
A visa platinum is one of the premium visa cards. A customer can enjoy many facilities while having a Visa platinum card. You can get 24/7 customer care support from the visa customer care center regarding any issue for which they want to report like reporting or blocking it, applying for replacement, etc. You can also get cash in case of emergencies. Visa platinum cards are generally globally accepted so you need not worry about shopping in any country. If anyone transacts using this card, they can enjoy exciting rewards, discounts, and other entitlements. Also, many ATMs accept Visa Platinum cards with a wide global network. Many things are made easier using this facility like booking concert tickets, vacation tickets, etc. So the customers enjoy many features through this card. However, the benefits and reward points received by a Visa platinum card holder are relatively less than those earned by customers holding a Visa signature card.
Eligibility To Get a Visa Platinum Credit Card
A person must have a minimum credit score of 740 to be eligible for this card. In other words, if you want to qualify for a Visa Platinum card, then the required credit score is 740.
What Is a Visa Signature Card?
A visa signature card provides even more premium facilities than a visa platinum card. It is the only card before the visa infinite card which provides its customers maximum benefits in many aspects. These cards are also globally accepted and customers can transact using this card from anywhere. When it comes to customer care, this card provides a customer care facility 24/7 and also gets a wider reach of the ATM (Automated Teller Machine) network as you can withdraw cash from anywhere in the world.
Eligibility To Get a Visa Signature Credit Card
A person must have a minimum credit score of 670 to be eligible for this card. In other words, if you want to have a visa signature card, then the required credit score is 670
Extra Added Facilities With a Visa Signature Card
While having a visa signature card, you get access to many more facilities than those possessing a visa platinum card. You get access to many multilingual call centers of Visa all day, every day, anytime. A customer gets many added travel benefits also like pre-trip assistance, urgent ticket replacement, urgent transport assistance, insurance of your luggage, urgent translator facility, airport lounge access for free, the privilege of a rental car, and complimentary food at luxury hotels.
A customer can also get legal and medical assistance through this card and the concierge facility of visa signature is something that makes each transaction easy and smooth with many offers and perks. Also, a Visa Signature credit card offers incentives on mostly every purchase, improving your credit score. It also provides you with a rental vehicle discount and there is nearly no annual fee for visa signature card holders. Hence automatically a person holding a visa signature card enjoys more benefits than someone who uses a visa platinum or a visa classic card.
Need To Get a Visa Card
A visa card proceeds to be helpful to individuals in many ways:
- It is accepted by many businesses and merchants across the world in more than 200 countries.
- To store a user’s information securely, it has inserted a microchip in it and has a 16-digit number printed on it.
- It improves your credit score with every purchase that you make.
- Based on a user’s credit score and financial profile, visa card limits are set.
Uses of a Visa Card For International Purposes
A visa card can be used internationally in many ways. You can use it to withdraw cash from any ATM which is covered in the visa network. However, an extra fee of 3.5% would be charged for such a withdrawal which includes the rate of interest from the date of the transaction itself.
Most Visa debit cards can also be used globally and you can use them to transact from any part of the world.
How To Get a Visa Card?
To get a visa card, you need to visit a bank that has an association with visa and fill out the application form. You must choose a visa card that suits your needs the most and then apply for it. You will be charged a processing fee and the card that you’ll get will have a visa stamp on it showing that it belongs to visa cards.
Some Security Points That You Need To Know
- While making a payment through Visa cards, you must make sure that you are making the payment through the correct site which is safe and secured and it is always advisable not to save your card details on any website for security purposes.
- Be it your card PIN, your UPI PIN, or any other PIN, you should not write or share your PINs with anyone, you must memorize them and enter them only when required. In case you forget the PIN of your Visa card, you can call Visa customer care anytime.
- If you want to pay through a Visa card while making an online purchase, then it directs you to the ‘Verified by Visa Payment Gateway’ which is a safe payment process as an OTP (One Time Password) is sent to you which needs to be entered while carrying out the transaction to confirm it.
Visa Credit Card Provider Banks In India
- HDFC Bank- HDFC Regalia credit card, HDFC Millennia credit card, HDFC Moneyback credit card
- ICICI Bank- Amazon Pay ICICI credit card, MMT ICICI bank signature credit card, ICICI coral contactless credit card
- SBI Credit Cards- SBI card elite, Cashback SBI credit card, SBI BPCL octane credit card
- HSBC Bank- HSBC Visa platinum credit card, HSBC smart value titanium credit card, HSBC cashback credit card
- Standard Chartered Bank- SCB Manhattan credit card, SCB EaseMyTrip credit card, SCB Platinum rewards credit card
Visa Cards That Charge No Annual Fee
- HSBC visa platinum card
- IndusInd Bank platinum card
- Amazon Pay ICICI credit card
- ICICI Instant Platinum credit card
Main Difference Between Visa Platinum and Visa Signature Cards In Points
Though both are premium visa cards and have some similarities in terms of offers and perks that they offer. Let's look at the main differences between the two cards in bullet points
- A visa platinum card is less premium than a visa signature cards
- A visa platinum card does not offer as many benefits as a visa signature card
- A Visa platinum card requires low credit scores as compared to a Visa signature card
- A visa platinum card provides only basic benefits with a lower annual fee however a visa signature card offers many more premium facilities to these customers
- A visa platinum card includes lower limit charges which a visa signature card doesn't
- A Visa platinum card reports the credit limit of your card whereas a Visa signature card doesn't
- A visa platinum card offers many benefits in terms of travel like vacation tickets but a visa signature card offers even more than that in terms of travel like a ticket replacement
- A visa platinum card also provides concierge services like a visa signature card but an advantage of priority is given to the customers possessing a visa signature card
Both the card of visa- visa platinum and Visa Signature offer many benefits to their customers. However, one card is more premium than the other, which is the visa signature card but visa platinum is more premium than the classic one, and then comes the visa signature. So ranking-wise, classic is the most basic one, then comes visa platinum and then visa Signature.
In terms of customer care facilities, both are provided 24/7 support from Visa customer care about any issue that a customer wants to raise. In terms of concierge facilities, customers holding a visa signature card are given more privileges than the ones having a visa platinum card. A visa signature cardholder does not have to pay any annual fee which a visa platinum cardholder has to. A visa platinum card provides basic facilities with just a better discount to its customers than a visa classic along with the travel benefits and a Visa signature card provides many additional perks like travel assistance, luggage insurance, legal assistance, and medical assistance along with the concierge services.
While making your decision, you should firmly assess your financial goals, needs, your personal preference, and spending habits according to which you must choose which Visa card to buy. Carefully compare both the cards in terms of benefits and perks they provide with the fee and other charges that are inclusive of them, then making a decision would be easier.