What does a credit limit of $10,000 mean when the
offer says: If you qualify for a credit line of $5,000 or more, you’ll enjoy complimentary premium benefits including:
... No preset spending limit.2
And the T&C says: 2. The no-preset-spending-limit feature applies only to Visa Signature transactions and does not mean that all transactions will be approved. All transactions will be considered on an individual basis, including those exceeding your revolving line.
So, no overlimit fee, a chance of each transaction over $10K being turned down, but otherwise no hard limit? So why issue a limit?