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Prime Cards

Valued Contributor

Re: Prime Cards


CreditScholar wrote:

creditnocash wrote:

What about Bank cards as i previously stated? 

2k limit 

no af 

3% cash back on most used category (of merchants) and 1% on everything else. 

bt 0% for 18 months. 

 

also i have a chase freedom and amex zync. 

but my scores are in the high 600's with limited aaoa now because of 5/6 new accounts. 

 

honestly this prime sub-prime is all a big ego stroke. 

(i personally never had a cap one card until it bought out hsbc for best buy store card) 

 

but i don't think I would care if I paid for my lunch with a cap one/orchard vs. a amex centurion or anything signature visa. like a crappy car it gets you from point a to b. but obviously someone would rather drive a new ferrari over a **bleep**ty rust bucket(new england) honda /end mini rant.


It isn't purely about ego, but some cards/lenders are frankly better than others. Due to my credit history and the cards I have, there are benefits available to me that simply aren't available to people with subprime numbers.

 

For example I can get 10% off any British Airways flight anytime, anywhere as part of the World Elite Mastercard program. Included lounge access is also important as I spend a lot of time overseas, and concierge services have proven invaluable when things have gone seriously wrong. I can also charge large amounts through my cards every month without having the hassle of being declined or calling in for a referral.

 

There are benefits to having good products if they fit your needs. However the reverse isn't always true: just because a card fits someone's needs doesn't make it high end. It could just be that their needs are low-end. Therefore a low-end card works just fine.

 


its like saying a square is a rectangle but a rectangle is not a square. 

and then that low end card is prime for the person. 

for sure having more rewards cards are better for the consumer. 

im not arguing that the prime cards are better but there is not definitive way to classify prime vs. sub-prime. 

as you said its all about needs. 

and hence why there are different cards. 

 

i would love higher cl on my cards but will i ever use them? 

at this point in time (in the near future ) probably not

but i guess im low end since i make under 50k a year and dont spend in total more then 2500 a month on expenses. 

 

to me all my cards are prime. 

they all have a purpose or had a purpose. all no af. well the zync has one but the benefits outweigh the cost. im sure when i app for another amex i will close the zync. 

Current: Discover Fico 709 3/15 Walmart Fico 743 4/15

Inquiries (24 Months): EQ 6 TU 1 EX 6 | Most Recent: 4/09/2015
Over 12 Months:9


2015 Goals:
Lower Utility
Earn Cash Back

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$7,400
Citi DC $10,000
Citizens Mastercard$7,000
Message 21 of 32
Super Contributor

Re: Prime Cards


webhopper wrote:
I consider my zync to be prime because it fits my needs and allows me a good bit of purchase power... same with my other cards...

At the end of the day, that is all that really matters in my opinion. 

 

 

Edit: Yay! I broke 1000 posts Smiley Very Happy 

Message 22 of 32
Valued Contributor

Re: Prime Cards


jamie123 wrote:

These would be my suggestions as to what cards are prime:

 

AMEX

Bank of America

Chase

CitiBank

Discover

Wells Fargo

Barclays (Maybe)

 

All other cards are sub-prime.


What about US Bank, or Pen Fed, or any number of other credit unions, banks, etc? Prime is in the eye of the beholder. 


CC's: AMEX (4), Alliant Visa, PenFed AMEX, Pen Fed Promise, Citi (3), Chase (5), US Bank Cash+, Huntington Voice, UMB Visa, Nasa Plat Cash Visa, Barclay's Visa, Discover IT, Cap One QS, BOA (2), BMW Visa, 5/3 Real Life Rewards MC; FNBO Amex; Comenity Visa/MC (4), Ebates Visa Siggy, Nordstrom Visa, Walmart MC, Sam's Club MC; A few assorted store cards.

Current Scores (09/2017): EQ My Fico: 801; TU MyFico: 799; EX (My Fico): 797
Message 23 of 32
Frequent Contributor

Re: Prime Cards

The service offered.

 

Sure Zync may not be the cream of the crop and some may say it's given to people with lessor credit scores.  But name a sub-prime credit card company that gives NPSL's and AMEX service and rewards points?  

That's what I thought.

AMEX is prime, offering products of the same caliber to less than prime.


Capital One is a sub prime company posing as a prime lender.

My Wallet:
AMEX Platinum | Discover It $20.3k | Chase Sapphire Reserved $16k | Chase United $12k | AMEX SimplyCash Plus Business $11.6k | AMEX Schwab $9k | AMEX BCEP $8.2k | Citi Costco Anywhere Visa $8k | Chase Amazon Visa $8k | Chase Sapphire Preferred $7k | Chase Freedom $5k | Citi Simplicity $5k | Paypal Extras Platinum $5k | Wells Fargo $5k | Citi Best Buy $4.2k | Citi Visa Signature $3k | Care Credit $3k
Message 24 of 32
Super Contributor

Re: Prime Cards


Razeus wrote:

The service offered.

 

Sure Zync may not be the cream of the crop and some may say it's given to people with lessor credit scores.  But name a sub-prime credit card company that gives NPSL's and AMEX service and rewards points?  

That's what I thought.

AMEX is prime, offering products of the same caliber to less than prime.


Capital One is a sub prime company posing as a prime lender.


Cap1s prime products are indeed quite prime. They're really not that easy to qualify for, none of them have AFs (with the exception of the venture), and their limits on them are pretty big. 

 

 

Message 25 of 32
Valued Contributor

Re: Prime Cards


jsucool76 wrote:

Razeus wrote:

The service offered.

 

Sure Zync may not be the cream of the crop and some may say it's given to people with lessor credit scores.  But name a sub-prime credit card company that gives NPSL's and AMEX service and rewards points?  

That's what I thought.

AMEX is prime, offering products of the same caliber to less than prime.


Capital One is a sub prime company posing as a prime lender.


Cap1s prime products are indeed quite prime. They're really not that easy to qualify for, none of them have AFs (with the exception of the venture), and their limits on them are pretty big. 

 

 


Not many people use their prime products like the venture. People with the scores and spending profiles needed typically have better options. The vast majority of their cards are subprime without a doubt.
EX 798, EQ 789, TU 784
American Express Platinum (NPSL) || Bank of America Privileges with Travel Rewards Visa Signature - $23,200 CL
Barclays American Airlines Aviator Red World Elite Mastercard - $20,000 CL || Chase IHG Rewards World Mastercard - $25,000 CL
Chase Sapphire Preferred Visa Signature - $12,700 CL || Chase United MileagePlus Club World Elite MasterCard - $26,500 CL
Citibank Hilton Reserve Visa Signature - $20,000 CL || J.P. Morgan Ritz Carlton Visa Signature - $23,500 CL
Message 26 of 32
Valued Contributor

Re: Prime Cards


Razeus wrote:

The service offered.

 

Sure Zync may not be the cream of the crop and some may say it's given to people with lessor credit scores.  But name a sub-prime credit card company that gives NPSL's and AMEX service and rewards points?  

That's what I thought.

AMEX is prime, offering products of the same caliber to less than prime.


Capital One is a sub prime company posing as a prime lender.


If you have high enough CLs, you typically don't need NPSL. People like NPSL because they cant grow their CLs fast enough through normal mechanisms.
EX 798, EQ 789, TU 784
American Express Platinum (NPSL) || Bank of America Privileges with Travel Rewards Visa Signature - $23,200 CL
Barclays American Airlines Aviator Red World Elite Mastercard - $20,000 CL || Chase IHG Rewards World Mastercard - $25,000 CL
Chase Sapphire Preferred Visa Signature - $12,700 CL || Chase United MileagePlus Club World Elite MasterCard - $26,500 CL
Citibank Hilton Reserve Visa Signature - $20,000 CL || J.P. Morgan Ritz Carlton Visa Signature - $23,500 CL
Message 27 of 32
Valued Contributor

Re: Prime Cards


Prime is in the eye of the beholder. 



Agreed!  If it fits your life that is all that matters.

Starting a whole new chapter
Message 28 of 32
Moderator Emeritus

Re: Prime Cards


CreditScholar wrote:

Razeus wrote:

The service offered.

 

Sure Zync may not be the cream of the crop and some may say it's given to people with lessor credit scores.  But name a sub-prime credit card company that gives NPSL's and AMEX service and rewards points?  

That's what I thought.

AMEX is prime, offering products of the same caliber to less than prime.


Capital One is a sub prime company posing as a prime lender.


If you have high enough CLs, you typically don't need NPSL. People like NPSL because they cant grow their CLs fast enough through normal mechanisms.

I whole heartedly disagree with this statement.  Frequent business travelers like the flexibility of a charge card with NPSL because it allows them to PIF without worrying about grace periods like with other cards.  Also, travel can vary from month to month... One month you might fly and your ticket is 1200 round trip.  Other times, its only 200 round trip.  Also, utilization isn't factored into FICO when you charge business travel with a charge card. So you won't be messing up your revolving utilization, So ya, I would definately reconsider that statement.


Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



Take the myFICO Fitness Challenge
Message 29 of 32
Established Contributor

Re: Prime Cards

I don't really think NPSL is a huge deal; it has its advantages and disadvantages.  It's nice that Amex charge cards don't affect utilization and internal limits can get high pretty quickly, but you never really know how much you can spend.  Even if you have a high internal limit now, if you don't use that card much for a few months, it will go back down.  You can find yourself getting denied for a large purchase.  If you have a set limit, you always know how much you can charge.

FICOs (2/24/12): EX 752, EQ 740
Chase Sapphire Preferred, Freedom; American Express PR Gold, Blue Cash Everyday
Message 30 of 32