Sub-Subprime Unsecured Credit Cards - June 2015

[wacdenney]

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@Anonymous wrote:

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@wacdenney wrote:

IMO I would think Capital One is the best in class for the sub-prime market.

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I believe OP considers sub prime to be card that charge abnormal fees where you're essentially paying a company to report a TL.  While Cap One does give rebuilders a chance, and they have high interest rates, they act more like a true unsecured card than Credit One, First Premiers, etc.

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I'm not arguing with the OP, I just think if you set out to list sub-prime lenders, that Capital One should be at the top of the list.  There are plenty of things to rag on Cap1 for, but serving this market is kindof what they do best.  If they deserve thrashing on other things then they also deserve to be given credit where credit's due.  (punny!)

Capital One charges fees on their lowest tier cards where normal creditors charge them on their top tier cards.  Hence abnormal fees where you're basically paying them to report your $300 TL.  idk, not only do they seem to fit the bill, they really and truly do it better than anyone else.  Out of the sub-prime lot I would definately rank Cap1 at the top of the pile.  Read through the forum...  Let's face it, it's a forum full of rebuilders and the vast majority of people's stories begin with Capital One.  That's where my story began.

[Anonymous]

Capital one secured card does not approve everyone. The companies listed above have a higher approval rate.

[Erusidhion]

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@Anonymous wrote:
Capital one secured card does not approve everyone. The companies listed above have a higher approval rate.

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        I think he's referring to the Quicksilver One, Platinum and Platinum Classic; that they're somewhat easier to get approved for but the cards I've listed will approve a majority of people regardless of credit history because they're predatory. I may add Capital One later but I'm trying to get a list of the bottom of the barrel lenders instead whereas I consider Capital One to be more picky about who they approve. I still have to update a lot of stuff but started a Harry Potter marathon last night and may be tied up for a few days. Why..... why did I do that... specially when I work all week.

     I called Merrick last night because I did receive an invite from them before in the past and they had it in their system but it was back in February of this year. I forget what terms they ofered me but I didn't accept. I was just curious if I could call and see if they had a current offer in their system. There's no way to have them invite you on their end. They just pull a list of people from the credit bureaus with a certain score range to invite. First Savings Credit Card probably does the same thing, I'll give them a call later today.

[Anonymous]

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@Erusidhion wrote:

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@Anonymous wrote:
Capital one secured card does not approve everyone. The companies listed above have a higher approval rate.

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        I think he's referring to the Quicksilver One, Platinum and Platinum Classic; that they're somewhat easier to get approved for but the cards I've listed will approve a majority of people regardless of credit history because they're predatory. I may add Capital One later but I'm trying to get a list of the bottom of the barrel lenders instead whereas I consider Capital One to be more picky about who they approve. I still have to update a lot of stuff but started a Harry Potter marathon last night and may be tied up for a few days. Why..... why did I do that... specially when I work all week.

     I called Merrick last night because I did receive an invite from them before in the past and they had it in their system but it was back in February of this year. I forget what terms they ofered me but I didn't accept. I was just curious if I could call and see if they had a current offer in their system. There's no way to have them invite you on their end. They just pull a list of people from the credit bureaus with a certain score range to invite. First Savings Credit Card probably does the same thing, I'll give them a call later today.

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How is Merrick worse than Credit One?

[Anonymous]

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@Anonymous wrote:

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@wacdenney wrote:

IMO I would think Capital One is the best in class for the sub-prime market.

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I believe OP considers sub prime to be card that charge abnormal fees where you're essentially paying a company to report a TL.  While Cap One does give rebuilders a chance, and they have high interest rates, they act more like a true unsecured card than Credit One, First Premiers, etc.

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So this thread isn't really about subprime then. It's about sub-sub prime.

[Erusidhion]

    I made it worse because you have to be invited and if you have bad credit, overall you may pay more then getting a Credit One but I can see your point. They're almost equal persay. I guess it depends on what kind of offer you get in your invitation if it's better or not. I'm just going off of information on the website's terms and agreements. For many of these cards you may get way better terms than a majority of people. I know I got the $45 AF, 19.90% on the Credit One whereas some people get the $35 AF, 17.90% offer. Also credit limits could be higher. I'm just trying to work off of a base and then the max value you may spend on a card if you're in really sub-subprime shape.

[Anonymous]

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@Erusidhion wrote:

    I made it worse because you have to be invited and if you have bad credit, overall you may pay more then getting a Credit One but I can see your point. They're almost equal persay. I guess it depends on what kind of offer you get in your invitation if it's better or not. I'm just going off of information on the website's terms and agreements. For many of these cards you may get way better terms than a majority of people. I know I got the $45 AF, 19.90% on the Credit One whereas some people get the $35 AF, 17.90% offer. Also credit limits could be higher. I'm just trying to work off of a base and then the max value you may spend on a card if you're in really sub-subprime shape.

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This one has a grace period, and better CS.

However I agree, the offers vary.

This one does NOT have a grace period, and has terrible CS.

These offers ALSO vary and frankly, if you qualify for their "best" terms, you are WAY past their target audience.

[CreditCuriosity]

I agree with Nixon Merrick is leaps and bounds ahead of Credit one..And all the other rebuilder cards other than Cap1 if you include them

Heck you even get an CC Enhanced TU fico score

[Anonymous]

Individuals with FICO credit score (range: 300-850) between 580 and 669 are subprime borrowers.