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Valued Contributor
Dustink
Posts: 3,097
Registered: ‎10-02-2012
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Re: Primeville?


distantarray wrote:

So if you think your card's Prime. 

 

2 things will pretty much prove it.

 

Lots of benefits/rewards   or  Super LOW APR  or   both


+1

 

Add good limit to that.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


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Valued Contributor
afbar1114
Posts: 2,179
Registered: ‎01-09-2012
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Re: Primeville?

[ Edited ]

navigatethis12 wrote:

Dustink wrote:

To me a prime borrower has a no baddies, a score over 720 with a long history and stable income. Lenders will make exceptions, but that would generally be the criteria for prime credit.

 

So prime cards will offer great customer service, fair rates, good rewards, and high limits.


I think this is what people do not get about Capital One. Their "excellent credit" cards have good customer service, the ability to get nice limits and increases, and really nice rewards. Maybe they should not treat their lower customers worse, but that is just the way it is.


from a customer point knowing that makes it even easier to get rid of them.  i cant wait to get rid of my first cap1 card. i mean it will feel great. and then the 2nd one will feel better at that point all my cards (visa,MC,AMEX,DISC) will be prime. besides for store cards i will have no more rebuilders. so 1 down 1 to go or 2 togo if i count plan b BBY card


In my wallet: AMEX Gold; Freedom $1.5k; CSP $5k; Chase United $5k; Discover $2k
Last HP: 4/30
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HiLine
Posts: 3,158
Registered: ‎10-19-2012
0

Re: Primeville?


jsucool76 wrote:

navigatethis12 wrote:

ccnewcc wrote:


The borrower would be, not the card.

 

 

You and your friend are at lunch, you pull out your Cap1 rebuilding card with a 500$ CL and your friend pulls out his Freedom card with a 500$ CL.  He knows just by looking at your card that is a rebuilder.  You say "oh wow, you got the Chase Freedom Card!"

 

Little do you know that it is actually a 500$ CL too.

 

The borrower is subprime, not the Chase Freedom.


Most people probably have no idea what cards offer what. When they see a card, it is just a card. Before I got into all this credit stuff all cards were just cards. I would not have know that someone pulling out Credit One may have bad credit.

 


Dustink wrote:


Their lending requirements seem pretty relaxed to me.

 



Yes, there have been people posting about chargeoffs, or a recent bankruptcy getting the Chase Freedom with a $500 limit.


Moral of the story, when we go strictly by lenders that are VIEWED as prime, we're talking about:

 

Chase, Amex, Citi, Barclays, (Sometimes) BoA, Discover, and US bank has some products. 

 


Basically the largest issuers of credit cards, minus Capital One, and Wells Fargo if they do actually issue many credit cards.

Valued Contributor
Dustink
Posts: 3,097
Registered: ‎10-02-2012
0

Re: Primeville?


jsucool76 wrote:

navigatethis12 wrote:

ccnewcc wrote:


The borrower would be, not the card.

 

 

You and your friend are at lunch, you pull out your Cap1 rebuilding card with a 500$ CL and your friend pulls out his Freedom card with a 500$ CL.  He knows just by looking at your card that is a rebuilder.  You say "oh wow, you got the Chase Freedom Card!"

 

Little do you know that it is actually a 500$ CL too.

 

The borrower is subprime, not the Chase Freedom.


Most people probably have no idea what cards offer what. When they see a card, it is just a card. Before I got into all this credit stuff all cards were just cards. I would not have know that someone pulling out Credit One may have bad credit.

 


Dustink wrote:


Their lending requirements seem pretty relaxed to me.

 



Yes, there have been people posting about chargeoffs, or a recent bankruptcy getting the Chase Freedom with a $500 limit.


Moral of the story, when we go strictly by lenders that are VIEWED as prime, we're talking about:

 

Chase, Amex, Citi, Barclays, (Sometimes) BoA, Discover, and US bank has some products. 

 


They all offer cards to sub-prime borrowers. But, they all offer some cards to only prime borrowers.

 

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
Established Contributor
ccnewcc
Posts: 560
Registered: ‎09-29-2012
0

Re: Primeville?


Dustink wrote:

HiLine wrote:

Dustink wrote:

To me a prime borrower has a no baddies, a score over 720 with a long history and stable income. Lenders will make exceptions, but that would generally be the criteria for prime credit.

 

So prime cards will offer great customer service, fair rates, good rewards, and high limits.


Well then we'll be talking about prime borrowers, not prime credit cards any more.

 


It takes a prime borrow to get a prime card. If sub-prime borrow is getting the card, the card is not prime.

 

What's important is what card offers you the best rewards for your credit profile. Not whether the card is prime.

 

Most visa signature cards and world mastercards are prime, but there are exceptions. That is not what matters though. You can get a crappy visa signature just as you can get an excellent card with sub-prime credit like a $500 freedom.

 


 

I disagree.  Would you consider a FICO of high 500s a prime or subprime borrower?

 

 

In another thread, high 500s we all know is a very poor FICO score but yet the bank took chance on the borrower and approved for a 2k CL for a prime card from a prime bank.

 

Valued Contributor
afbar1114
Posts: 2,179
Registered: ‎01-09-2012
0

Re: Primeville?


HiLine wrote:

jsucool76 wrote:

navigatethis12 wrote:

ccnewcc wrote:


The borrower would be, not the card.

 

 

You and your friend are at lunch, you pull out your Cap1 rebuilding card with a 500$ CL and your friend pulls out his Freedom card with a 500$ CL.  He knows just by looking at your card that is a rebuilder.  You say "oh wow, you got the Chase Freedom Card!"

 

Little do you know that it is actually a 500$ CL too.

 

The borrower is subprime, not the Chase Freedom.


Most people probably have no idea what cards offer what. When they see a card, it is just a card. Before I got into all this credit stuff all cards were just cards. I would not have know that someone pulling out Credit One may have bad credit.

 


Dustink wrote:


Their lending requirements seem pretty relaxed to me.

 



Yes, there have been people posting about chargeoffs, or a recent bankruptcy getting the Chase Freedom with a $500 limit.


Moral of the story, when we go strictly by lenders that are VIEWED as prime, we're talking about:

 

Chase, Amex, Citi, Barclays, (Sometimes) BoA, Discover, and US bank has some products. 

 


Basically the largest issuers of credit cards, minus Capital One, and Wells Fargo if they do actually issue many credit cards.


i work in retail and the cards i see most are cap1 freedom discover and amex(charge). boa sometimes but not as much as the others. never really seen a barclays card. 


In my wallet: AMEX Gold; Freedom $1.5k; CSP $5k; Chase United $5k; Discover $2k
Last HP: 4/30
Valued Contributor
navigatethis12
Posts: 1,954
Registered: ‎01-24-2012
0

Re: Primeville?


jsucool76 wrote:


Moral of the story, when we go strictly by lenders that are VIEWED as prime, we're talking about:

 

Chase, Amex, Citi, Barclays, (Sometimes) BoA, Discover, and US bank has some products. 

 


I never really saw American Express or Discover as anythig to get excited over. Especially Discover, but that is another thread entirely.

 

The lowest rate I have is 10.24 on the Chase Ink Classic, and next to that are PNC and Fidelity American Express at 13.99. Those seem prime I guess when most other rates I have are about 20 I think.

 


afbar1114 wrote:


from a customer point knowing that makes it even easier to get rid of them.  i cant wait to get rid of my first cap1 card. i mean it will feel great. and then the 2nd one will feel better at that point all my cards (visa,MC,AMEX,DISC) will be prime. besides for store cards i will have no more rebuilders. so 1 down 1 to go or 2 togo if i count plan b BBY card


Why not just apply for one of their better cards. I really want one and plan on applying sometime next year when inquiries and accounts age.

Blogger
HiLine
Posts: 3,158
Registered: ‎10-19-2012
0

Re: Primeville?

[ Edited ]

afbar1114 wrote:

HiLine wrote:

jsucool76 wrote:

navigatethis12 wrote:

ccnewcc wrote:


The borrower would be, not the card.

 

 

You and your friend are at lunch, you pull out your Cap1 rebuilding card with a 500$ CL and your friend pulls out his Freedom card with a 500$ CL.  He knows just by looking at your card that is a rebuilder.  You say "oh wow, you got the Chase Freedom Card!"

 

Little do you know that it is actually a 500$ CL too.

 

The borrower is subprime, not the Chase Freedom.


Most people probably have no idea what cards offer what. When they see a card, it is just a card. Before I got into all this credit stuff all cards were just cards. I would not have know that someone pulling out Credit One may have bad credit.

 


Dustink wrote:


Their lending requirements seem pretty relaxed to me.

 



Yes, there have been people posting about chargeoffs, or a recent bankruptcy getting the Chase Freedom with a $500 limit.


Moral of the story, when we go strictly by lenders that are VIEWED as prime, we're talking about:

 

Chase, Amex, Citi, Barclays, (Sometimes) BoA, Discover, and US bank has some products. 

 


Basically the largest issuers of credit cards, minus Capital One, and Wells Fargo if they do actually issue many credit cards.


i work in retail and the cards i see most are cap1 freedom discover and amex(charge). boa sometimes but not as much as the others. never really seen a barclays card. 


According to the following pages, Capital One is about top 5 and Barclays about top 10. BofA is top 3.

 

http://www.creditcardchaser.com/what-are-the-largest-credit-card-companies/

http://www.cardhub.com/edu/market-share-by-credit-card-issuer/

 

Capital One has been giving out a huge number of credit cards lately though, and I think they're relatively new, which is why their cards are seen more often.

 

Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011
0

Re: Primeville?

[ Edited ]

navigatethis12 wrote:

I never really saw American Express or Discover as anythig to get excited over. Especially Discover, but that is another thread entirely.

 

The lowest rate I have is 10.24 on the Chase Ink Classic, and next to that are PNC and Fidelity American Express at 13.99. Those seem prime I guess when most other rates I have are about 20 I think.

 



once you realize how Amex can backdate a short AAOA history I wanted one immediately lol

total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Moderator
Revelate
Posts: 9,731
Registered: ‎12-30-2011
0

Re: Primeville?


jsucool76 wrote:

Moral of the story, when we go strictly by lenders that are VIEWED as prime, we're talking about:

 

Chase, Amex, Citi, Barclays, (Sometimes) BoA, Discover, and US bank has some products. 

 


If you're going to put "sometimes" next to BOFA, you need to put "sometimes" on the rest of them, and "never" by Discover in my opinion :smileyhappy:.  Discover More has long been obtainable at the current Chase Freedom underwriting standard, which is likely one of the reasons that Chase dropped their requirements on the Freedom to nearly identically match as they are effectively the same card rewards wise.

 

BOFA / USBank / Citi secured cards among others obtainable at 640 or lower.

Amex, Zync/Green/Delta skymiles (basic MRE blue too)

Chase Freedom

Barclay's Apple for sure, possibly others

Discover More, and presumably IT as well now.

 

Pretty much every one of the major lenders is big enough to want to diversify their credit portfolio, it's simply not as profitable to compete in the prime-only borrower category anymore.

 

 

 

 

 

 

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