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Moderator Emeritus
tinuviel
Posts: 4,877
Registered: ‎11-02-2010

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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Regular Contributor
creditguy-378
Posts: 184
Registered: ‎03-23-2011

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

always use credit wisely and you won't ever feel like you're working just for the task master
Established Member
Maverick79
Posts: 21
Registered: ‎03-05-2011

Re: Name that Subprime Credit Card Company

 

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Established Contributor
aftermath
Posts: 519
Registered: ‎05-09-2008

Re: Name that Subprime Credit Card Company

Amex... after being subjected to an FR! :smileyvery-happy:

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andre181
Posts: 624
Registered: ‎07-29-2010

Re: Name that Subprime Credit Card Company

Providian/WaMu

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Valued Contributor
smc733
Posts: 1,262
Registered: ‎05-13-2010

Re: Name that Subprime Credit Card Company

 


aftermath wrote:

Amex... after being subjected to an FR! :smileyvery-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.

 

Senior Contributor
Wolf3
Posts: 3,198
Registered: ‎01-24-2010

Re: Name that Subprime Credit Card Company


smc733 wrote:

 


aftermath wrote:

Amex... after being subjected to an FR! :smileyvery-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
JMN
Posts: 321
Registered: ‎10-25-2009

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. :smileyvery-happy:

Despite my employment in the banking industry, any and all views contained in this post are purely my own, and do not represent any financial institution, nor constitute as financial or investment guidance or advise.
New Contributor
ocboy949
Posts: 163
Registered: ‎03-04-2010

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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Moderator Emeritus
llecs
Posts: 32,880
Registered: ‎08-04-2007

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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