cancel
Showing results for 
Search instead for 
Did you mean: 

Prime credit cards versus sub-prime credit cards?

tag
Revelate
Moderator Emeritus

Re: Prime credit cards versus sub-prime credit cards?

ROFL, so one new thing on the myFICO update, we get reason codes (aka reasons your score ain't higher) now too with the additional scores.  Only have the one store card, and my only other questionable one is listed as pure Installment loan when I look at it.

 

Look what's on my EQ Beacon 5.0 Smiley Happy

 

  • You have a consumer finance account on your credit report.

 

So N>0 may be a problem!  Admittedly it's in the 4th spot which we routinely tell people to ignore heh.

 

ETA: interesting, the EQ Beacon 5.0 classic and auto-enhanced scores have that negative factor for EQ, but the FICO 8 models don't; Bankcard does not (has my installment loan balances are too high, which has to be a ratio given it's a pair of secured loans, and may explain the drop from losing the auto loan, wish I had this data access a few months ago) and EX is mostly complaining about installment loan balances the CFA listing is nowhere to be found on the FICO 8 or FICO 98 versions listed.




        
Message 31 of 87
vikingred
Frequent Contributor

Re: Prime credit cards versus sub-prime credit cards?


@Anonymous wrote:

@CreditCuriousity wrote:

@Anonymous wrote:

@kdm31091 wrote:

For FICO purposes, it does not seem to matter. A credit line is a credit line. Your utilization is your utilization. The FICO score does not care who the credit line came from.

 

 

This is true but on manual review lenders definitely view subprime credit cards and loans as a negative


Wish I could be a fly on a wall in Chase/Citi/Barclay's U/W department for a day...  Hear what people say on recons and decisions and the stuff they talk about between themseves about x person etc


It wouldn't shock me if some of them frequent these forums.


I think Nixon is covertly an Amex U/W supervisor.

Message 32 of 87
Anonymous
Not applicable

Re: Prime credit cards versus sub-prime credit cards?


@vikingred wrote:

@Anonymous wrote:

@CreditCuriousity wrote:

@Anonymous wrote:

@kdm31091 wrote:

For FICO purposes, it does not seem to matter. A credit line is a credit line. Your utilization is your utilization. The FICO score does not care who the credit line came from.

 

 

This is true but on manual review lenders definitely view subprime credit cards and loans as a negative


Wish I could be a fly on a wall in Chase/Citi/Barclay's U/W department for a day...  Hear what people say on recons and decisions and the stuff they talk about between themseves about x person etc


It wouldn't shock me if some of them frequent these forums.


I think Nixon is covertly an Amex U/W supervisor.


Oh, that's it. FR for you every year!

Message 33 of 87
vikingred
Frequent Contributor

Re: Prime credit cards versus sub-prime credit cards?


@Anonymous wrote:

@vikingred wrote:

@Anonymous wrote:

@CreditCuriousity wrote:

@Anonymous wrote:

@kdm31091 wrote:

For FICO purposes, it does not seem to matter. A credit line is a credit line. Your utilization is your utilization. The FICO score does not care who the credit line came from.

 

 

This is true but on manual review lenders definitely view subprime credit cards and loans as a negative


Wish I could be a fly on a wall in Chase/Citi/Barclay's U/W department for a day...  Hear what people say on recons and decisions and the stuff they talk about between themseves about x person etc


It wouldn't shock me if some of them frequent these forums.


I think Nixon is covertly an Amex U/W supervisor.


Oh, that's it. FR for you every year!


I refuse!  CLS!

Message 34 of 87
vikingred
Frequent Contributor

Re: Prime credit cards versus sub-prime credit cards?

I checked that other link.  There is NO WAY cap1 is a "prime lender" or "prime card".  I say subprime.  Trash card.

Message 35 of 87
chwebb1
Established Contributor

Re: Prime credit cards versus sub-prime credit cards?


@Anonymous wrote:

@vikingred wrote:

@Anonymous wrote:

@CreditCuriousity wrote:

@Anonymous wrote:

@kdm31091 wrote:

For FICO purposes, it does not seem to matter. A credit line is a credit line. Your utilization is your utilization. The FICO score does not care who the credit line came from.

 

 

This is true but on manual review lenders definitely view subprime credit cards and loans as a negative


Wish I could be a fly on a wall in Chase/Citi/Barclay's U/W department for a day...  Hear what people say on recons and decisions and the stuff they talk about between themseves about x person etc


It wouldn't shock me if some of them frequent these forums.


I think Nixon is covertly an Amex U/W supervisor.


Oh, that's it. FR for you every year!


You're way more generous than I would be. I'd make a FR for them AT LEAST once a month. Smiley Very Happy

 photo NUS000000180_160X101_STRAIGHT.gif photo DISCOVER_IT_LG.gif photo card_1.png photo night-launch.png photo NUS000000012_160X101_STRAIGHT.gif photo bankamericard-better-balance-rewards-credit-card-small.png
$15000 ........... $12500 ............ $11750 ............ $10000 ........... $9400 ............ $5000 ............. $5000
In the Garden until at least November 2015
Message 36 of 87
Anonymous
Not applicable

Re: Prime credit cards versus sub-prime credit cards?


@vikingred wrote:

I checked that other link.  There is NO WAY cap1 is a "prime lender" or "prime card".  I say subprime.  Trash card.


They're subprime, but I see them as a gateway CC.

 

Gateway to prime. If you use it right.

Message 37 of 87
Anonymous
Not applicable

Re: Prime credit cards versus sub-prime credit cards?


@chwebb1 wrote:

@Anonymous wrote:

@vikingred wrote:

@Anonymous wrote:

@CreditCuriousity wrote:

@Anonymous wrote:

@kdm31091 wrote:

For FICO purposes, it does not seem to matter. A credit line is a credit line. Your utilization is your utilization. The FICO score does not care who the credit line came from.

 

 

This is true but on manual review lenders definitely view subprime credit cards and loans as a negative


Wish I could be a fly on a wall in Chase/Citi/Barclay's U/W department for a day...  Hear what people say on recons and decisions and the stuff they talk about between themseves about x person etc


It wouldn't shock me if some of them frequent these forums.


I think Nixon is covertly an Amex U/W supervisor.


Oh, that's it. FR for you every year!


You're way more generous than I would be. I'd make a FR for them AT LEAST once a month. Smiley Very Happy


That's a little too much. Quarterly. Smiley Wink

 

With adjustable CL's according to income made that quarter. D:

Message 38 of 87
Imperfectfuture
Super Contributor

Re: Prime credit cards versus sub-prime credit cards?


@Revelate wrote:

ROFL, so one new thing on the myFICO update, we get reason codes (aka reasons your score ain't higher) now too with the additional scores.  Only have the one store card, and my only other questionable one is listed as pure Installment loan when I look at it.

 

Look what's on my EQ Beacon 5.0 Smiley Happy

 

  • You have a consumer finance account on your credit report.

 

So N>0 may be a problem!  Admittedly it's in the 4th spot which we routinely tell people to ignore heh.

 

ETA: interesting, the EQ Beacon 5.0 classic and auto-enhanced scores have that negative factor for EQ, but the FICO 8 models don't; Bankcard does not (has my installment loan balances are too high, which has to be a ratio given it's a pair of secured loans, and may explain the drop from losing the auto loan, wish I had this data access a few months ago) and EX is mostly complaining about installment loan balances the CFA listing is nowhere to be found on the FICO 8 or FICO 98 versions listed.


Good to know.  Wonder how it would consider that dormant les schwab account from 2007?  But, I'm not focusing on scores right now,  will be interesting next November when I order my reports.

Signature needs updating
Message 39 of 87
vikingred
Frequent Contributor

Re: Prime credit cards versus sub-prime credit cards?


@Anonymous wrote:

@vikingred wrote:

I checked that other link.  There is NO WAY cap1 is a "prime lender" or "prime card".  I say subprime.  Trash card.


They're subprime, but I see them as a gateway CC.

 

Gateway to prime. If you use it right.


Yeah, I see that QS in yer sig.... ;-)  BTW, how do i make a neat siggy like that with the cards and all? 

Message 40 of 87
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.