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Moderator Emeritus
cheddar
Posts: 6,794
Registered: ‎09-29-2007
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Re: Easy card to get that is considered prime?

[ Edited ]


Watchmann wrote:
cheddar wrote:
 
Because of their history in the charge card business and their overall skittishness in general, it is advisable to treat any Amex credit product as a PIF-type card.  Even if you have a card that allows you to carry a balance, they really hate it when you do, and have been known to get nervous and close accounts or lower limits on credit cardholders who carry a balance for more than a few months at a time.
 
---------------------------------
 
True if you have a short history with AMEX, but the longer the history the more lenient they are with you carrying a balance.  I've carried balances with AMEX for six months or so with no effect on my CL (in fact they increased the CL during these periods), but that is with a 28 year credit history.  The greatest asset with AMEX is TIME, so you might as well get started.  Once they trust you you will have a very good relationship with them.  I've probably pushed close to $1,000,000 through my three accounts with them over the years with never a missed payment.  They do not worry about me carrying an $8k to $10k balance for a few months on my Optima card.  Their internal risk programs and their continual softing of my approx 790 FICO score causes them no concern.


Message Edited by Watchmann on 07-03-2008 10:34 PM


My post was obviously in response to those who didn't know what a charge card was, and who therefore don't have a 28-year history with Amex.
 
I'm happy for you that they are so lenient with you.  They obviously love you.  I can't count how many times I have read that you have a 28-year history with Amex.
 
We get it.  They love you.
 


Message Edited by cheddar on 07-03-2008 10:44 PM
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. :smileysurprised: )
Moderator Emeritus
fused
Posts: 16,374
Registered: ‎03-12-2007
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Re: Easy card to get that is considered prime?



Watchmann wrote:
cheddar wrote:
 
Because of their history in the charge card business and their overall skittishness in general, it is advisable to treat any Amex credit product as a PIF-type card.  Even if you have a card that allows you to carry a balance, they really hate it when you do, and have been known to get nervous and close accounts or lower limits on credit cardholders who carry a balance for more than a few months at a time.
 
---------------------------------
 
True if you have a short history with AMEX, but the longer the history the more lenient they are with you carrying a balance.  I've carried balances with AMEX for six months or so with no effect on my CL (in fact they increased the CL during these periods), but that is with a 28 year credit history.  The greatest asset with AMEX is TIME, so you might as well get started.  Once they trust you you will have a very good relationship with them.  I've probably pushed close to $1,000,000 through my three accounts with them over the years with never a missed payment.  They do not worry about me carrying an $8k to $10k balance for a few months on my Optima card.  Their internal risk programs and their continual softing of my approx 790 FICO score causes them no concern.


Message Edited by Watchmann on 07-03-2008 10:34 PM

I love Amex and I also agree with your comments. When it comes to Amex, a long-term relationship means a ton. However, we have to remind posters new to Amex that their new relation with Amex requires babysitting, diaper changing and breast feeding. Amex not only reviews your behavior with them, but also your behavior with ALL of your creditors. And when they see something they don't like with one of your other creditors, they are the first CCC to take AA (adverse action)...close accounts, request a FR (financial review) or raise your rates. But to reiterate, I am a HUGE Amex lover. They have been extremely generous with me and go to great lengths to keep me happy as a card holder.
Credit Profile -
FICO 08 Scores (09-16-2014): EQ 824, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26+ years ~ AAoA: 12 years ~ Util: 1% ~ Inqs: EX 1 (Amex 07-15-2014)

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heirophant
Posts: 532
Registered: ‎11-25-2007
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Re: Easy card to get that is considered prime?

[ Edited ]
Alright, I'll play since this thread has gone a different direction than the original post: how long of a history of PIF do you guys believe they would need before trusting you to carry a balance?  I have thought about this a little while and since they keep track of your spending and payment habits, if you PIF for 5 years, the all of a sudden carry a balance for 6 months, would that not throw up a flag since it is outside your normal spending and payment habits?
 
As for a response to the OP, I think an easy to get prime card would also be a Citi or Chase standard platinum card...nothing fancy, no rewards.  You probably won't get a limit over 1K, but no AF and they should treat you well for years, although Citi is mad at me for stupidly defaulting on a Key Bank card a few years back.  I still like Citi to this day.  Even when I was in default, they were nice to me.
 
Also, on the note of Amex, although it is recommended to have 2 years free of baddies, I got my Delta Amex and my Green card with a collection that was under a year old (stupid medical collection that I have since paid because I just forgot about it).  My EX score was 645 at the time.
 
I don't think I would pay any attention to the Total Visa in the second post.  I really hope that was an attempt at a joke.


Message Edited by heirophant on 07-04-2008 01:51 AM
FICO's: TU: 682 EX: 688 EQ: Unknown

In my wallet (strikethough are getting the axe soon): Amex Rewards Plus Gold | BECU: 10,000 | AlaskaUSA FCU: 6,900 | Citi Forward 6,500 | BOA Travel Rewards: 5,000 | US Bank Cash+: 5,000 | Merrick: 4,200 | Chase Freedom: 3,500 | Juniper: 3,100 | Household: 2,450 | Best Buy Reward Zone: 2,000 | Cap1: 1,500 | Cap1: 750 | Bailey's Furniture: 3,100 | Lowes: 4,500 | Care Credit: 2,000 | Zales: 1,400 | Kohls: 400 | Sam's: 5,200 | Walmart: 1,100 | Discover More: 1,000
Established Contributor
heirophant
Posts: 532
Registered: ‎11-25-2007
0

Re: Easy card to get that is considered prime?

[ Edited ]


cheddar wrote:


Watchmann wrote:
cheddar wrote:
 
Because of their history in the charge card business and their overall skittishness in general, it is advisable to treat any Amex credit product as a PIF-type card.  Even if you have a card that allows you to carry a balance, they really hate it when you do, and have been known to get nervous and close accounts or lower limits on credit cardholders who carry a balance for more than a few months at a time.
 
---------------------------------
 
True if you have a short history with AMEX, but the longer the history the more lenient they are with you carrying a balance.  I've carried balances with AMEX for six months or so with no effect on my CL (in fact they increased the CL during these periods), but that is with a 28 year credit history.  The greatest asset with AMEX is TIME, so you might as well get started.  Once they trust you you will have a very good relationship with them.  I've probably pushed close to $1,000,000 through my three accounts with them over the years with never a missed payment.  They do not worry about me carrying an $8k to $10k balance for a few months on my Optima card.  Their internal risk programs and their continual softing of my approx 790 FICO score causes them no concern.


Message Edited by Watchmann on 07-03-2008 10:34 PM


My post was obviously in response to those who didn't know what a charge card was, and who therefore don't have a 28-year history with Amex.
 
I'm happy for you that they are so lenient with you.  They obviously love you.  I can't count how many times I have read that you have a 28-year history with Amex.
 
We get it.  They love you.
 


Message Edited by cheddar on 07-03-2008 10:44 PM

Cheddar, its OK.  He just likes to share his story.  My Grampa and my Dad (both very wise men) tell the same story over and over again, too.  I just listen, nod, and laugh.  If it is someone's first time reading it, maybe they will get something out of it.  Not everyone spends as much time as a mod on this board and not everyone reads every thread.  He had the best of intentions in stating that a relationship with AMEX in which they will entrust you with such lenient terms takes a long time to build, so the sooner you start, the sooner you can build that kind of relationship with them.  Maybe it seems a little like bragging, but there was a point in there.


Message Edited by heirophant on 07-04-2008 02:09 AM
FICO's: TU: 682 EX: 688 EQ: Unknown

In my wallet (strikethough are getting the axe soon): Amex Rewards Plus Gold | BECU: 10,000 | AlaskaUSA FCU: 6,900 | Citi Forward 6,500 | BOA Travel Rewards: 5,000 | US Bank Cash+: 5,000 | Merrick: 4,200 | Chase Freedom: 3,500 | Juniper: 3,100 | Household: 2,450 | Best Buy Reward Zone: 2,000 | Cap1: 1,500 | Cap1: 750 | Bailey's Furniture: 3,100 | Lowes: 4,500 | Care Credit: 2,000 | Zales: 1,400 | Kohls: 400 | Sam's: 5,200 | Walmart: 1,100 | Discover More: 1,000
Valued Contributor
mjbfan79
Posts: 1,998
Registered: ‎03-31-2008
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Re: Easy card to get that is considered prime?

 To Heirophat:
 
 
I don't think I would pay any attention to the Total Visa in the second post.  I really hope that was an attempt at a joke.


 
I made the total visa comment i guess its considered sub prime hey i'm new here so give me a break i don't no all the credit card terms.

Starting Score 3-31-08: EQ 582 TU 577 EX 625
Current Score 3-19-10: EQ 703 TU 712 EX No Clue
Goal Score: 800 By January Of 2012


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Wonderin
Posts: 3,494
Registered: ‎05-25-2008
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Re: Easy card to get that is considered prime?

Cheddar, I have to say, your post made me burst out laughing! The way your post read to me, it just reminded me of my DD's attitude/response when I've lectured her for the MILLIONTH time about strangers, candy and car rides (Okay, she IS almost 14, so maybe I don't have to drill her on it EVERY time she leaves the house! LOL!).

I think, today, I'll let her touch the front door's door knob without the lecture. Just this once.

Seriously, very, very funny!! Thanks for the giggle!! :smileyhappy:

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*

Hubby's FICOs when we started: high 400s (June 2008)
Hubby's FICO NOW (04/06/09): TU: 679 EQ: 608 EX: ???
My FICOs: TU: 643, EQ: 606
Closed on new home: 1/20/2009 -- If we can do it, YOU can do it!!

Senior Contributor
Wonderin
Posts: 3,494
Registered: ‎05-25-2008
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Re: Easy card to get that is considered prime?

Thank you for the explanation, Cheddar!!

I've always thought "charge card" was synonymous with "store card" for some reason. I think it's cause my mama always called her Sears and JC Penny's cards "charge plates" (boy, does that take me back!!).

I gotta say ... I have learned SO much from you guys!! It's thanks to you guys and the Good Lord that we now have two new TLs (Orchard Bank and CJs)!! Hubby is only a point shy (as of the last pull I did last month) of the 600 club!! Thank you!! :smileyhappy:

{{{Hugs!!}}}

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*

Hubby's FICOs when we started: high 400s (June 2008)
Hubby's FICO NOW (04/06/09): TU: 679 EQ: 608 EX: ???
My FICOs: TU: 643, EQ: 606
Closed on new home: 1/20/2009 -- If we can do it, YOU can do it!!

Moderator Emeritus
cheddar
Posts: 6,794
Registered: ‎09-29-2007
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Re: Easy card to get that is considered prime?



Wonderin wrote:

I've always thought "charge card" was synonymous with "store card" for some reason. I think it's cause my mama always called her Sears and JC Penny's cards "charge plates" (boy, does that take me back!!).


Well, that's actually a common misconception, because store cards appear on credit reports with the notation "charge account."  This is different from a "charge card," as I described above, although the similarity of the terms often leads to confusion.
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. :smileysurprised: )
Regular Contributor
Wesley23
Posts: 122
Registered: ‎06-02-2008
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Re: Easy card to get that is considered prime?



mjbfan79 wrote:
Total Visa



I wouldn't consider Total prime.
 
I think the easiest prime card to get is Discover. I got a (real) Discover More card and I had a paid collections account on my CR from about 2 years ago (no other baddies). My EQ score at the time was 660 I believe (it has since went down due to inquiries).
Regular Contributor
msheresy
Posts: 124
Registered: ‎05-21-2008
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Re: Easy card to get that is considered prime?



Wesley23 wrote:


mjbfan79 wrote:
Total Visa



I wouldn't consider Total prime.
I think the easiest prime card to get is Discover. I got a (real) Discover More card and I had a paid collections account on my CR from about 2 years ago (no other baddies). My EQ score at the time was 660 I believe (it has since went down due to inquiries).



IMO Discover is one of the hardest.

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