Prime Cards vs subPrime (Credit Unions)

[JusdoNit]

Hi.  Are Credit Union Mastercard and Visa's considered Prime cards that help boost FICO scoring?

[Anonymous]

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@JusdoNit wrote:

Hi.  Are Credit Union Mastercard and Visa's considered Prime cards that help boost FICO scoring?

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It might vary based on the CU. Your best bet would be to call your CU and ask. I have a prime CC with my CU, so it is possible.

[Anonymous]

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@JusdoNit wrote:

Hi.  Are Credit Union Mastercard and Visa's considered Prime cards that help boost FICO scoring?

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Sub prime cards help your score too.  They just don't have great rewards or uses other than rebuilding.

[bichonmom]

Usually a CU CC is going to be a prime card; however, whether it's prime or sub-prime, doesn't affect your FICO. It's not a factor in the scoring model as far as I know. There have been people posting here w/just a couple rebuilders/sub-prime CCs and have pretty decent scores. We all want to be in Prime Land, but not for that reason. Prime CCs have less fees, more rewards, higher CLs and CLIs, etc.

[JusdoNit]

Thank you all for the help.  I am just trying to find out if I have entered into Primeville.  I have a CU Mastercard that has a 10% interest rate, but I am not sure of any rewards.  Was also trying to see if I would qualify for Chase cards yet.

[Revelate]

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@JusdoNit wrote:

Thank you all for the help.  I am just trying to find out if I have entered into Primeville.  I have a CU Mastercard that has a 10% interest rate, but I am not sure of any rewards.  Was also trying to see if I would qualify for Chase cards yet.

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FICO scores above 680 = Prime.

Yes, you qualify with what you have in your signature line

[JustMe77]

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@JusdoNit wrote:

Thank you all for the help.  I am just trying to find out if I have entered into Primeville.  I have a CU Mastercard that has a 10% interest rate, but I am not sure of any rewards.  Was also trying to see if I would qualify for Chase cards yet.

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I was approved for a Chase Freedom in December with a FICO of 685-690 at the time, with a $2000 CL. They gave me a high interest rate though (22.99%).

[JusdoNit]

Thanks Justme77...,but what was your AaoA?

[Anonymous]

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@JusdoNit wrote:

Thank you all for the help.  I am just trying to find out if I have entered into Primeville.  I have a CU Mastercard that has a 10% interest rate, but I am not sure of any rewards.  Was also trying to see if I would qualify for Chase cards yet.

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I'm sure you qualify for Chase.  10% rate is a great reward in itself.

[MarineVietVet]

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@JusdoNit wrote:

Hi.  Are Credit Union Mastercard and Visa's considered Prime cards that help boost FICO scoring?

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Credit cards from credit unions count the same as bankcards from big banks.  This wasn't always true, but with the newer models there's no difference.  Specifically, this is true for the EQ (BEACON 5.0) and TU04 scores most used by lenders.  I'm not sure about EX.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".