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10-21-2012 04:25 PM
PNC, Chase, FIA, and Citi. Chase may be the best since their sign up bonuses are always the best. I would hate to get blacklisted by them. PNC is a close second with their 1.75% cashback. All the ones I mentioned have very good customer service and nice cards for different people.
10-21-2012 04:28 PM
I tend to think of subprime cards as cards that aren't ends in themselves, but are a means to the ends of established credit, better scores, and better credit cards. So prime cards would be cards that are an end in themselves, cards that you get because you want the direct benefits and rewards of that specific card.
10-21-2012 04:32 PM - edited 10-21-2012 05:03 PM
I hate the word "prime" as some sort of credit card or lender measuring stick. It really isn't .
For every lender mentioned I can give examples cards which can be obtained by sub-prime borrowers, by any of the classical definitions of sub-prime. With the fact that pretty much everyone who's a prime borrower has a credit card if they want one, and as a result it's red-water competition in that market space, all the lenders recently have been doing a race to the bottom, or some financial form of the limbo, to try to get new customers in the boat where there are folks who weren't in their historical portfolio.
For a few examples: Freedoms can be obtained by the majority of the folks with one year clean and a FICO in the 620-630 range since June and sometimes without even going through Chase's vaunted recon at 640+. Another one, BOFA, whose 1-2-3 rewards was an entry package for prime borrowers even a year or two ago, put it on their secured card of all things. People with much higher FICO's than mine still have those cards and are using them well, and yet I've got the same reward package.
I personally think that credit cards shouldn't be used for any sort of measurement of self-worth, not only is it an inconsistent standard by most measurements, it's a pretty empty one too in my opinion. Every one of my cards is technically a subprime product as I'm a subprime consumer, and I'm just fine with that... and I could absolutely get a Chase card too if I desired for that matter too to add to both my BOFA and Amex cards. Short of Penfed and I'm starting to doubt this looking at their recent auto-loan underwriting standards, I can't name a single other well known lender (at least on these forums) that isn't catering to subprime borrowers.
End of the day, if the card works for you, then it's a good card. If it doesn't, then it should be re-evaluated or replaced when possible. That's all the matters honestly.
Edit: I have become way too sloppy over time, missing whole words even. Tried to fix.
10-21-2012 05:26 PM
If it works for you and does what you need it to, it's prime. My prime isn't someone else's prime. I'm completely content right now with my new Discover and USAA. Happy to have our feet in the door with Chase. I know there are cards and limits WAAAAAY better than mine, but mine work for me.
When I finish my MBA and am making better money, my perception if "prime" will probably change. I'll probably want a Citi or AMEX, and consider those better than what I have now. We'll see.
10-21-2012 05:35 PM
No AF with rewards. Great customer service is a major+
10-21-2012 05:38 PM
it seems like everyone has their own thoughts on this. i think for me its chase amex boa discover. or any other card i wanted and never got. for me all my cards MUST have rewards. although i do have AMEX with AF but amex CSR is awesome and it forces me to pay it off every month.
10-21-2012 06:58 PM
No AF with rewards. Great customer service is a major+
The AF thing is really important. I know some ppl try to justify the AF by saying if the rewards will make back the AF.
Make Back?! Really??
If there wasn't an AF to begin with, then you would have even Moreee rewards left over.
But I can see their aruguments, I just don't belive its worth it.
So IMO, prime MUST, and I mean MUST not have any AF.
10-21-2012 07:06 PM
A card with low interest rates would be prime for me......
10-21-2012 07:06 PM - edited 10-21-2012 07:09 PM
For personal credit cards, roughly:
Tier 1: Any airlines- or hotel-sponsored cards, most Amex-issued cards, and any other cards that have an annual fee close to or above $100.
Tier 2: Cards with the most generous cash back rewards without an annual fee: Discover More, Chase Freedom, U.S. Bank Cash+, Blue Cash Everyday, etc.
Tier 3: Most other travel rewards cards
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