Valued Contributor
Posts: 1,157
Registered: ‎05-21-2008
Re: Which cards are prime cards and when should I apply for them?
[ Edited ]

Prime is a relative term.


I would arbitrarily call any rewards card with an APR <15%, or non-rewards card with APR <10% a prime card.  Assuming it doesn't have any unnecessary fees attached.  Anything with an annual fee that does not provide great benefits (i.e. any non-AmEx card with an AF) would be subprime.  Also, any card that charges fees for things like making an online payment or payment over the phone, etc.


Lenders that only offer prime cards, to my knowledge include Discover, AMEX, Chase, Bank of America (though some people would want to make them a sub-prime lender Smiley Wink).  Most credit unions products would be considered prime.


Some lenders, like Capital One, offer both prime and sub-prime products.


Then there are the exclusively sub-prime lenders.  CFAs like CitiFinancial or really AnythingFinancial.  I cannot recall most of the sub-prime lenders names.  First Premier, etc.

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