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Established Contributor
scenery_guy
Posts: 936
Registered: ‎07-24-2012
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Re: what credit cards are not considered to be "prime"


Wolf3 wrote:

jsucool76 wrote:

So, lets just talk this out a bit...

 

We have a thread like this...basically once a week (it feels like) and we all say the same things. Half of the people argue "prime" doesn't apply to the card itself, the other half actually list lenders that fit into the category the OP asked about. 

 

While You all may be right that neither "prime" nor "subprime" describe the card/lender...we all know what the OP is actually asking about. Why not just answer the question?


It is not clear whether the op means "cards for people with only prime credit" or "very good CC from customers point of View".   This ambiguity makes for a lot of arguments.   I think the first question is not that interesting.   There is no one answer to the second question, since it depends on the needs, wants, and spending patterns of the customer. 

 

I find it great fun to poke at those who worship at the feet of the all and mighty OZ (Amex).


Or the OP might actually be asking the question "what credit cards are not considered prime" just like the thread title and as per the question at the top of the post. 

Poke away, I doubt they (AMEX or cardholders) care. And it's not the feet, it's the pretty pretty plastic. :smileywink:.

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bs6054
Posts: 1,673
Registered: ‎11-11-2012
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Re: what credit cards are not considered to be "prime"


stormb28 wrote:
Revelate,

Those are all subprime? I couldnt get not a single one of them @ this point in time.

subprime doesn't necessarily mean "anyone can get them".  There's discussion here of being rejected even for secured cards.   I think revelate's point is that all those cards are available to some applicants with below average credit.

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Revelate
Posts: 9,758
Registered: ‎12-30-2011
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Re: what credit cards are not considered to be "prime"


bs6054 wrote:

stormb28 wrote:
Revelate,

Those are all subprime? I couldnt get not a single one of them @ this point in time.

subprime doesn't necessarily mean "anyone can get them".  There's discussion here of being rejected even for secured cards.   I think revelate's point is that all those cards are available to some applicants with below average credit.


That's what I was getting at; there are of course different strata of borrowers in subprime, namely when I started I was at least deep subprime and maybe worse than that when it comes to my credit with no shot at any of the cards I listed.  Also there's technically categories higher than prime too, but when a below prime borrower (that would be me for reference) can obtain a card then I think it's reasonable to conclude that the lender has a product designed for subprime borrowers.

 

Granted it's not always clear cut, the Freedom goes right up to Signature level and beyond, but also all the way down to $500; I'm guessing if I applied and were approved I'd be somewhere in the middle, but I may be down at the $500 level too and it wouldn't surprise me to receive a limit down there either, though I suspect I could get approved for one if I applied in Chase's case.  Not so certain on the Citi Forward but others in similar circumstances have been approved for it.

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Rhaeny
Posts: 1,507
Registered: ‎07-24-2011
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Re: what credit cards are not considered to be "prime"

Well when I read the description of the thread, I thought about perception of what the general population thinks.  Most people outside of this forum wouldn't know about the majority of things discussed in this thread.  Such as its not the card but the offer given to you on that card that makes it prime vs sub prime.  So a person not fortunate to be a member here might think that a Cap1 card with an AF, 25% apr and dang near no possiblity of an increase is better than an FP card with 5% cash rewards, low apr and no AF (HaHa!! must be drinking tonight to make that up) just because of the popularity of Cap1.

 

But in this case Cap1 is not the prime card but FP is.  This is just because of the "perception" of Cap1 with all of their commercials and advertising. 

 

So now that I am much more savvy by being a member here and learning about all of this stuff, I could care less what the perception is versus what's better for my purse.  And yes if it were true I'd proudly carry that FP card around :smileyvery-happy:.

 

 

 

 


Major CC's - Barclay's ($5.5K) | Barclay's Sallie Mae MC ($5K) | DCU ($7.5K) | Discover IT ($1.4K) | Genisys Visa ($1.4K) | NFCU Visa ($22K) | Navcheck ($15K) | Chase Freedom ($5K) | SDFCU Visa ($8K) | Amex BCP ($9.5K) | Amex Delta ($10K) |Store CC's| -Amazon ($4K) | Catherines ($850) | JCP ($4K) | Macy's ($1.7K) | Avenue ($850) | Victoria's Secret ($1.4K) | Walmart ($4.1K) | Paypal SC ($1.3K) | HSN ($2.5) | Sears ($2.6K) | Sams Club ($4.1K) |Goal|: Age with grace to 750 across the board |Last app|: 3/3/2014
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stormb28
Posts: 104
Registered: ‎12-12-2012
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Re: what credit cards are not considered to be "prime"

Rhaeny,

Well put, now I get it, its all relative. With that said, im firmly entrenched in the subprime borrower category.
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CruzImperial
Posts: 869
Registered: ‎07-04-2012
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Re: what credit cards are not considered to be "prime"

Regardless of how difficult to obtain a product is, if in your specific situation you get more out of a card than what you put in, I then consider the card as prime.

 

Few quick examples:

 

Cashback - Good - Other - Fee

 

- Amex BCP has given me $250 cashback in 5 months + amex benefits + highest CL and 3xcli option $75 fee = PRIME

 

- Discover More/IT has given me $150 cashback in 21 months + Shop Discover - one of lowest CLs - no CLI option No AF = SUB-PRIME

 

- Cap One Journey 1% cashback ... 

 

Others will say Discover IT is prime and they love Shop Discover; however, even tough it is the best product Discover is pushing out right now and other people can get more juice out of it, for me it is a sub-prime product I do not need because I don't see the benefits of having it besides Shop Discover which is similar to the Citi Dividend online purchase feature.

Someone else pays me way more for using their products. Venture card in the other hard is in the prime sector on my book.

Fico Scores: . Walmart TU 748 . Garden 8/19 2014 .

Cap One Journey 500 | Discover IT 500 | GE Home Design 5.6k | GE HHGREGG 5k | Amex Zync NPSL | Amex BCE 6k | Citi Forward 4.2k | Citi Dividend 3k | GE BrandsMart 1k | GE Lowes 8.5k | Discover Walmart 7.5k | Barclays Apple 2.5k | BoA CR 2.7k | CSP 7.2k | Platinum Prestige 5k | IT Chrome 4k | Slate 2.3k |
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scottwagnon
Posts: 1,350
Registered: ‎02-07-2010
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Re: what credit cards are not considered to be "prime"

sub prime cards tend to have low limits below 2k, interest rates above 21 percent, and typically come with an annual fee. there is alot of grey area here. i currently have a "subprime" card. it is my capone cash rewards newcomers; it started out at 24.9. but right now i  currently have a promo for 7 months on it at 20.9 sort of giving it a borderline prime condition. also i went as far a to write capital one requesting an increase and was granted, bringing my limit to prime territory of 5k.

EX BankCard 8 FICO 820 (250-900) 04/08/14
TU FICO 806 (350-850) 04/10/14
EX VT 3.0 805 (300-850) TU VT 2.0 891 (501-990)
Credit.com score 798 (300 - 850) TU transrisk 772
card line up here: http://ficoforums.myfico.com/t5/Credit-Cards/How-Many-Credit-Cards-Do-YOU-have/m-p/1034512#M290859
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bs6054
Posts: 1,673
Registered: ‎11-11-2012
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Re: what credit cards are not considered to be "prime"

[ Edited ]

CruzImperial wrote:

Regardless of how difficult to obtain a product is, if in your specific situation you get more out of a card than what you put in, I then consider the card as prime.

 

Few quick examples:

 

Cashback - Good - Other - Fee

 

- Amex BCP has given me $250 cashback in 5 months + amex benefits + highest CL and 3xcli option $75 fee = PRIME

 

- Discover More/IT has given me $150 cashback in 21 months + Shop Discover - one of lowest CLs - no CLI option No AF = SUB-PRIME

 

- Cap One Journey 1% cashback ... 

 

Others will say Discover IT is prime and they love Shop Discover; however, even tough it is the best product Discover is pushing out right now and other people can get more juice out of it, for me it is a sub-prime product I do not need because I don't see the benefits of having it besides Shop Discover which is similar to the Citi Dividend online purchase feature.

Someone else pays me way more for using their products. Venture card in the other hard is in the prime sector on my book.


But we have  phrases like  "useful to me" to cover that.  Amex Plat and Chase CSP aren't very useful to me and certainly wouldn't justify the AF for me, but I wouldn't call them subprime.  I just say "not useful for me" and don't get them.

 

People just mean different things of course, and that is the problem.  Prime might mean "respectable, will meet my needs and grow with me".  Basically the same as choosing a partner!  So a subprime card is the equivalent of a S.O. you would be scared to take home to your parents.  There, a clear workable definition!  The obly problem is that it is similar to yours which I just disagreed with. Oh well.

Established Contributor
CruzImperial
Posts: 869
Registered: ‎07-04-2012
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Re: what credit cards are not considered to be "prime"

If we go by standards, we can then have a sub-prime card that suits you better than a prime one. Prime should be top products with better perks than most others... having standards that contradict that is a problem.

 

I guess this could be one of those phisolophical questions about likes/dislikes and good/bad perspectives.

Fico Scores: . Walmart TU 748 . Garden 8/19 2014 .

Cap One Journey 500 | Discover IT 500 | GE Home Design 5.6k | GE HHGREGG 5k | Amex Zync NPSL | Amex BCE 6k | Citi Forward 4.2k | Citi Dividend 3k | GE BrandsMart 1k | GE Lowes 8.5k | Discover Walmart 7.5k | Barclays Apple 2.5k | BoA CR 2.7k | CSP 7.2k | Platinum Prestige 5k | IT Chrome 4k | Slate 2.3k |
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Razeus
Posts: 395
Registered: ‎04-02-2012
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Re: what credit cards are not considered to be "prime"

Anything from Capital One.  They are the  devil.

My Wallet:
Discover It $14,300 | Chase Sapphire Preferred $7,500 | Chase Freedom $5,000 | Citi Simplicity $5,000 | AMEX BCE $3,000 | Paypal Extras Platinum $5,000 | Wells Fargo $1,000 | AMEX Zync NPSL

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