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credit4me wrote:
I am totally confused now! So, the APR and high approval rate determines if a card is Prime or Sub-prime? So, all of these cards are sub-prime:Continental Airlines Business MasterCard® 18.24% $75AFJetBlue Business Credit Card from American Express® 18.24% $40AFJetBlue Card from American Express® 18.24% $40AFContinental Airlines World MasterCard® from Chase 18.24% $85AFSeaMiles® Visa® Rewards 17.24%So, these cards are no different than:Cap1First PreimerLegacy VisaOrchardCCCUIs this correct?
Message Edited by credit4me on 09-10-2007 08:03 PM
I wouldn't lump them in with First Premier. I put that card in a class that is somewhat less than subprime and too vulgar to mention in polite company. That being said.....Reward cards sometime come with a high APR. Not a bad thing if you plan on PIFing every month. Personally, i have found rewards cards with MUCH better interest rates than the ones you have there and they ar not from PRIME issuers.To be perfectly honest, I wold not have what you described above in my wallet. Gie me my flat 2% CB at 13% (issued buy Household/HSBC by the way) and my no name 9 and 10 percenters any day of the week.People often do their credit shopping by name brand when generic works just as well. When I decide which card to app I ask: If I take away the annual fee and the interet rate I am liable to incur by carrying a balance on this card, would I do better jut using a 13% with 2% CB or a 9 or ten percenter and grabbing a ticket off of Travelocity? Nine out of ten times that answer is yes.But hey, my mom never carries a balance and flies a lot so her Citi airline miles card is well worth it. All depends on how you use it.
some people have had the ability to combine the cl's into a single card. maybe something you could look into.
credit4me wrote:Hello all,Are these cards basically the same? Far as level? I tried to get the Delta converted to a Blue but the csr said it was not available for me But she did put a app. thru for the Starwood which I was approved for another 2500. Should I take it? I guess it's too late since I already took the additional hit with the phone app.. But are they basically the same sub-prime cards?
Message Edited by credit4me on 09-10-2007 09:54 AM
montana wrote:
APR is determined by your Credit history, payment history, income to debt ratio, etc. and FICO. So the prime card can have a high APR too.I have 2 prime cards:BOFA AMEX at about 12.99 % APRAMEX Blue at 18.99% APRIf it helps.
Message Edited by montana on 09-10-2007 05:45 PM
That is tre Montana, but your rate is determined against their cardholders pool. For now I am happy swimming with the little fishies if it means a lower APR. Put me in that pool and I'd be eaten alive.
Roger that.
fused111 wrote:
SpecFile wrote:Well I converted to Blue Cash. Is that subprime as well?Blue Cash is definitely prime.