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Moderator Emeritus
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Registered: ‎11-02-2010
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Re: Name that Subprime Credit Card Company

Well, someone already beat me to the punch my naming FP. So, I'll name another one... Applied Bank.


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Re: Name that Subprime Credit Card Company

ya forgot about that one what about mbna back in the day i remember having a 1500 credit card and a 26.9APR

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Re: Name that Subprime Credit Card Company

 

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Re: Name that Subprime Credit Card Company

Amex... after being subjected to an FR! Smiley Very Happy

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Re: Name that Subprime Credit Card Company

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Re: Name that Subprime Credit Card Company

 


aftermath wrote:

Amex... after being subjected to an FR! Smiley Very Happy


Amex is a "prime" lender, we can all agree, but as someone on another *ahem* board has once said, they rely on "very subprime" tactics, most notably, their "great customer service" goes down the drain with rude service for people who end up being FR'd.

 

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Re: Name that Subprime Credit Card Company


smc733 wrote:

 


aftermath wrote:

Amex... after being subjected to an FR! Smiley Very Happy


Amex is a "prime" lender, we can all agree, but as someone on another *ahem* board has once said, they rely on "very subprime" tactics, most notably, their "great customer service" goes down the drain with rude service for people who end up being FR'd.

 


No we can't.   I think American Express business philosophy or FR or dropping anybody for any possible reason is not prime.  

Frequent Contributor
Posts: 321
Registered: ‎10-25-2009
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Re: Name that Subprime Credit Card Company

 


creditguy-378 wrote:

ya forgot about that one what about mbna back in the day i remember having a 1500 credit card and a 26.9APR


 

I believe, that for the most part, they're referring to subprime-only lenders.

 

MBNA, for the most part, was a prime credit card company. Every credit card company may have accounts with higher interest rates, however, that doesn't represent their entire portfolio. 

 

 

 

Anyway, I'm glad to have never done business with any of the subprime lender noted here, or any others. Smiley Very Happy

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New Contributor
Posts: 163
Registered: ‎03-04-2010
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Re: Name that Subprime Credit Card Company

 


johnecova wrote:

Lets make a list of subprime Credit Card companies. I'll start it off...

 

1: HSBC

2: Creditone Bank

3: Capital One

 


 

 

How is Capital One subprime? While they offer secured cards for rebuilding or establishing credit, that doesn't mean they are subprime. Wells Fargo, Bank of America, Citi, all offer secured cards and they are the furthest thing from subprime. Capital One has many cards for those with excellent credit. Also, they don't charge a foreign transaction fee or balance transfer fee. In addition to that, they make managing your account online very convenient. You can change the card image (at no charge) and set travel notifications. Capital One also has an online checking account that pays 1% interest and reimburses ATM fees amongst other nice banking options. I have a Capital One card that has 7% APR and $5,200 CL with no annual fee. To say that is subprime is just a joke.

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Re: Name that Subprime Credit Card Company

"Sub-prime" is a relative term in our own minds. When we think "subprime" I believe most of us are thinking about First Premier, Applied Bank, the old Emblem, Tribute, Aspire and others from Columbus B&T, Credit One, and many more I'm sure. Then opinions tend to slide towards other CCs as well like Orchard, HSBC, etc.. I bet some in here think Amex is subprime by they way the sometimes treat their customers with FRs, etc. (I think Amex is great).

 

IMO, I'm in the camp that CapOne is subprime. While the APR wasn't too bad on mine at about 20%, the APR was higher than my Orchard which was under 15% and higher than DW's HSBC. Not only that, but I'm stuck at $1000 and CapOne almost never ever never gives CLIs, whereas HSBC/Orchard recently increased CLs. And CapOne pulls all 3 CRAs and then there's an annual fee. Now there have been a couple of posts in here that CapOne is doing FRs. Nuts! And I'm sure most CapOne CC cardholders are like this as well and that's where the stigma comes from with regards to CapOne being perceived as a subprime CC. I can't speak to everyone on here, but it's my own fault that I had a CapOne and should have waited until credit improved (back then) before apping. There seems to be a paradigm shift lately within CapOne, but 2-3+ years ago, their focus was on those who had lower credit scores. I see better limits now being posted by those who waited to apply with high scores.

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