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?
Visa Signature, Mastercard World, and World Elite, are cards that are termed "no pre-set spending limit" cards that still have a credit limit.
The minimum credit limit for Visa Signature is $5,000. Therefore, if you qualify for $5K credit limit, you will receive the Signature version, and that would let you charge more than your credit line during the billing cycle. But you must pay back the overage by statement date.
When they issue additional cards, are the card numbers different, and the statements split by additional cardholders? Or are they all lumped together?
And how many additional cardholders can i get issued? More than 2? 20?
Unlike AMEX, Visa does not give different card number to authorized user. All charges go on same statement. That is the case for AMEX, Visa, and Mastercards, at least on the personal card side - all users activities show on one single statement.
I believe only business cards would have individual statement for each authorized user account, and even so, there is still a summary statement for all the users activities showed together.
Authorized users with different family names may require more additional info from the applicant's part in order to get approved. Spouse and children being authorized users almost always are approved automatically.