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@AverageJoesCredit wrote:
Im sure if tydawg finds this post he'll let you know why. They are a huge bank but from what i gather are very conservative , take forever to approve you and for many the rewards dont match to what they want or expect. No real experience with their ccs but i do know the one time i tried getting a personsl loan they wanted at least a 700 just to consider. Bravo indeed
Which is absolutely hilarious, considering they're the number 1 sub-prime car lender in the US. They'll back a 25%, 72 month loan on a 10 year old Hyundai with a 150% LTV, but want at least 700 for a loan?
@DeeBee78 wrote:
@AverageJoesCredit wrote:
Im sure if tydawg finds this post he'll let you know why. They are a huge bank but from what i gather are very conservative , take forever to approve you and for many the rewards dont match to what they want or expect. No real experience with their ccs but i do know the one time i tried getting a personsl loan they wanted at least a 700 just to consider. Bravo indeedWhich is absolutely hilarious, considering they're the number 1 sub-prime car lender in the US. They'll back a 25%, 72 month loan on a 10 year old Hyundai with a 150% LTV, but want at least 700 for a loan?
THIS is the truth!
I think there are a few reasons why this card isn't popular:
1. It has a $49 AF - which makes it inferior to other cards that offer 3% on those categories (there are quite a few actually, the best is the SSFCU Power Travel Rewards that offers 3.3%, but is geography limited)
2. They give 3x "points", but they don't happen to mention what their points are worth or if they can be redeemed for cash or cash equivalent, anybody know?
3. I think a lot of people hate Santander. I actually used to like them becuase they had a checking account where they gave you free money every month, but they stopped that last year.
If I remember correctly, Santander got burned when they bought a bunch of sub prime loans from Lending Club...
I may not remember correctly though - I'm getting old...
Santander's UW for this card is ridiculous. Here's a couple old threads:
http://ficoforums.myfico.com/t5/Credit-Cards/Santander-Bravo-World-MasterCard-updates/td-p/3144102
http://ficoforums.myfico.com/t5/Credit-Cards/Santander-Bravo-MC/td-p/4503427
And though it's not mentioned yet i think another reason (as if those others aren't already enough) is about their credit lines?