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Contributor
prabs99
Posts: 92
Registered: ‎05-24-2013
0

Prime cards??

Here are my cards, Do I have any prime cards? How do you know if you have a prime card? I have seen so many conflicting info. Thanks for your help.

 

Discover It

Amex BCE

Penfed Amex Prem Travel Rewards

Wells Fargo Platinum Rewards

Nordstrom Signature

Home Depot

Cap1 (Plat Visa and Plat MC with Rewards)

Target Visa (Closed by TD bank)

 

 

 

 

FICO (Discover) 767
Super Contributor
longtimelurker
Posts: 8,197
Registered: ‎04-22-2013
0

Re: Prime cards??


prabs99 wrote:

Here are my cards, Do I have any prime cards? How do you know if you have a prime card? I have seen so many conflicting info. Thanks for your help.

 

Discover It

Amex BCE

Penfed Amex Prem Travel Rewards

Wells Fargo Platinum Rewards

Nordstrom Signature

Home Depot

Cap1 (Plat Visa and Plat MC with Rewards)

Target Visa (Closed by TD bank)

 

 

 

 


Most people here would count many of these as prime (Discover, Amex, Penfed certainly).

 

But it really doesn't mean very much, just one of those terms that gets thrown around.   Some cards are clearly subprime, e.g. Credit One and First Premier,  those with a large AF, a monthly fee, and very low CL, the rest are the rest!

Valued Contributor
navigatethis12
Posts: 1,954
Registered: ‎01-24-2012
0

Re: Prime cards??

Prime is whatever you want it to mean. Some consider some lenders to be perfect with no flaws while I believe they are trash and not worth my time. You will see on here that most people hate Capital One, so will call them subprime. When Capital One gives them a 10,000 increase and gives them the Venture card, all of a sudden their opinion changes drastically. I say as long as you are happy with the card, then its "prime".

Valued Contributor
daybreakgonesXe
Posts: 1,872
Registered: ‎11-17-2012
0

Re: Prime cards??


prabs99 wrote:

Here are my cards, Do I have any prime cards? How do you know if you have a prime card? I have seen so many conflicting info. Thanks for your help.

 

Discover It

Amex BCE

Penfed Amex Prem Travel Rewards

Wells Fargo Platinum Rewards

Nordstrom Signature

Home Depot

Cap1 (Plat Visa and Plat MC with Rewards)

Target Visa (Closed by TD bank)

 

 

 

 


I bolded the "definites", and italicized the "maybes". Target gets both qualifications...I see you had a Visa, which means that your scores had to be good enough to get it cobranded...however, I'm hoping your limit isn't ridiculously small on it, either!

 

What i mean by the "maybes" is that when it comes to store cards, they fall into a category of their own. You don't have to have a "great" score to get them. Usually, initial approval of a lower limit may indicate "subprime", however a higher initial approval limit and/or approval of a cobranded card may indicate "prime" status. Also, growing the lines over time indicates your move from "subprime" to "prime".

 

Cap One is also an iffy one...were you initially approved for the annual fee, or no annual fee cards? The annual fee ones indicate "subprime", while no annual fee indicates "prime". You can check this on the CapOne website...they note it as average or excellent.

Capital One Quicksilver World Mastercard $10k | JCPenney Platinum $7.5k | Shell Drive for Five $800 | Chase Freedom Visa Signature $9.8k | TD Bank Easy Rewards Visa Signature $5k | Chase Sapphire Visa Signature $10k | American Express Blue Sky $25k | Discover IT $9.5k | SavingStar American Express $14.8k

FICOS: EX 759 EQ 719 TU 740 Credit Karma (TU) 790 Transrisk 820/990 Credit Sesame (EX) 766 Credit.com (EX) 774 VantageScore 3.0 726 Quizzle (EQ) 721
Contributor
prabs99
Posts: 92
Registered: ‎05-24-2013
0

Re: Prime cards??

Discover It  - 5k

Amex BCE - 7k

Penfed Amex Prem Travel Rewards - 12k

Wells Fargo Platinum Rewards - 8k

Nordstrom Signature - 12k

Home Depot -750

Cap1 (Plat Visa and Plat MC with Rewards) - 5k each

Target Visa (Closed by TD bank) - 2.5k

FICO (Discover) 767
Frequent Contributor
LawStudentCivilis
Posts: 311
Registered: ‎06-14-2013
0

Re: Prime cards??


navigatethis12 wrote:

Prime is whatever you want it to mean. Some consider some lenders to be perfect with no flaws while I believe they are trash and not worth my time. You will see on here that most people hate Capital One, so will call them subprime. When Capital One gives them a 10,000 increase and gives them the Venture card, all of a sudden their opinion changes drastically. I say as long as you are happy with the card, then its "prime".


 

:smileyvery-happy: It's fun watching the transition. Capital One has been prime since day one in my book. Although I technically have one of their "prime cards."  I have received so much better service than Chase's CSR's to date. But then again I only get American based reps everytime I call.

 

Plus my cash rewards are almost instant and I dont have to wait until statement cuts like I do with Chase.

Frequent Contributor
Dubious
Posts: 271
Registered: ‎02-10-2013
0

Re: Prime cards??

The thing with Cap One is that they have both prime and non prime products. They don't treat both sets of customers the same way. 

Contributor
prabs99
Posts: 92
Registered: ‎05-24-2013
0

Re: Prime cards??

I cannot seem to qualify for Chase. I think they hate me, I have a checking and savings with them for 8 years now.

FICO (Discover) 767
Established Contributor
Brusilov
Posts: 611
Registered: ‎01-04-2009
0

Re: Prime cards??

I know it's probably somewhat subjective but I would say anything that requires at least a 680-720 FICO to be approved.

 

Penfed,

BofA,

Chase,

Discover,

Amex,

Citi

 

(To name a few)

                    
    $17.3K          $500              $7K              $15K              $5K             $2300          $3200          $2000          $1500          $1000           $8100

Garden Since: 9.25.2013
Frequent Contributor
LawStudentCivilis
Posts: 311
Registered: ‎06-14-2013
0

Re: Prime cards??


Dubious wrote:

The thing with Cap One is that they have both prime and non prime products. They don't treat both sets of customers the same way. 


I think ppl forget this too. I would stay away from the cards with AF if you want decent service.


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