topic Re: Most Prestigious Credit Cards?! in Credit Cards

Most Prestigious Credit Cards?!

XxRaVeNxX1 — Thu, 07 Apr 2016 19:26:40 GMT

Is there a list of prestigious cards? Are there any cards that stand out to you?

Like, if your scores were near perfect/Prime what card what you attempt to get?

I see some people gravitate to Chase Freedom, Chase Sapphire Preferred, and Discover IT. I see some even venture out to a few of Capital One’s cards, which is surprisingly since they seem to deal with sub-par credit.

I’ve been gardening since 2012, and just looking to continue to garden with a company, that maybe not have given me the time of day back in 2012, so that I can look back five years later and say – ‘I’m glad I applied with that company;’ the way that I do with Navy Federal.

Re: Most Prestigious Credit Cards?!

Anonymous — Thu, 07 Apr 2016 19:15:30 GMT

I would guess the most prestigious cards would be business cards. I mean they don't really let ordinary consumers carry prestigious cards.

Most credit cards are just like any other card.

I mean what's the real difference when you really think about it?

Re: Most Prestigious Credit Cards?!

Anonymous — Thu, 07 Apr 2016 19:25:31 GMT

Most people gravitate to those cards for the benefits.

I think the cards that would make me stop for a second is the AMEX Black and Chase Palladium. Both are pretty cool looking, have ridiculous annual fees and have some type of requirement like the Palladium requires a minimum of $250,000 invested or deposited with Chase.

Re: Most Prestigious Credit Cards?!

Anonymous — Thu, 07 Apr 2016 19:45:12 GMT

Most cards that will impress people require a lot of income, wealth, and/or spending. For instance, the American Express Centurion (black) card is for those who spend close to half a million a year and the J.P. Morgan Chase Palladium card is for those who have at least a quarter million in Chase Private Client.

As to higher-tier cards from each lender, there's always going to be some debate on that. From what I've seen around here and on other sites, I'd say the Chase Sapphire Preferred, Citi Prestige, American Express Platinum, Ritz-Carlton Rewards, etc. give a lot of perks and bonuses, accompanied by a high annual fee. If you use the perks and rewards offered, they're great cards. But if you don't, then I'd look at cards with no annual fee.

The most important thing is your own utility. From what I've read, if you have credit scores in the mid-700s or better and no or few recent inquiries or new accounts, you can get accepted to pretty much anything. So look around and figure out what you want. For example, I just recently got 2 cards after not applying for anything for 7 or 8 years. I chose the Capital One Quicksilver for its easy rewards structure and sign-up bonus and the Barclay Ring for its low interest rate and community aspect. After further research, I think in a couple years when my credit with these companies is established, I'll also possibly apply for another couple cards from different companies that will provide slightly better rewards and, when combined with my existing cards, will allow me to see all 3 FICO scores for free.

So that's how the cards I chose fit my goals. Once you figure out what you want from your credit, look around and apply for what gives it to you (or comes closest).

Re: Most Prestigious Credit Cards?!

Anonymous — Thu, 07 Apr 2016 19:43:03 GMT

Credit One.

No, I don't have this card, but one can always hope.

Re: Most Prestigious Credit Cards?!

Anonymous — Thu, 07 Apr 2016 19:47:34 GMT

@Anonymous wrote:
Most people gravitate to those cards for the benefits.

I think the cards that would make me stop for a second is the AMEX Black and Chase Palladium. Both are pretty cool looking, have ridiculous annual fees and have some type of requirement like the Palladium requires a minimum of $250,000 invested or deposited with Chase.

Amex Platinum benefits are now very close to Centurion ones. And if you have $250k invested, move it to Schwab and Amex will reduce the AF!

(On the Schwab cobrand Platinum, that is).

Re: Most Prestigious Credit Cards?!

Anonymous — Thu, 07 Apr 2016 19:48:38 GMT

Oh how shallow can we go

Re: Most Prestigious Credit Cards?!

Anonymous — Thu, 07 Apr 2016 19:52:59 GMT

@Anonymous wrote:
I would guess the most prestigious cards would be business cards. I mean they don't really let ordinary consumers carry prestigious cards.

Most credit cards are just like any other card.

I mean what's the real difference when you really think about it?

Business cards aren't hard to get these days. Even if you sell stuff on eBay, that's considered a business.

Re: Most Prestigious Credit Cards?!

Anonymous — Thu, 07 Apr 2016 20:02:23 GMT

I think that if someone needs a special credit card to feel important or prestigious, there are bigger issues going on than what type of credit card they have. Seriously.

Re: Most Prestigious Credit Cards?!

galahad15 — Thu, 07 Apr 2016 20:14:41 GMT

@XxRaVeNxX1 wrote:
Is there a list of prestigious cards? Are there any cards that stand out to you?

Like, if your scores were near perfect/Prime what card what you attempt to get?

I see some people gravitate to Chase Freedom, Chase Sapphire Preferred, and Discover IT. I see some even venture out to a few of Capital One’s cards, which is surprisingly since they seem to deal with sub-par credit.

I’ve been gardening since 2012, and just looking to continue to garden with a company, that maybe not have given me the time of day back in 2012, so that I can look back five years later and say – ‘I’m glad I applied with that company;’ the way that I do with Navy Federal.

In mho, the most prestigious cards are the ones with no AFs and with the very lowest, rock-bottom go-to/non-promo APRs (also even better if fixed rates).

If my scores were near-perfect or super-prime, I would hypothetically apply for some of the example cards listed below:

(1) Western/Unify FCU Variable-Rate VISA, as low as 5.24% V

(2) Apple FCU VISA Platinum, as low as 5.99% V

(3) Simmons VISA at 7.50% V

(4) (Reapply for) Western/Unify FCU Fixed-Rate VISA, as low as 8.99% F (i.e., to get the lowest-available rate)

ETA: also recommended - Barclay Ring MC, at 8.25% V

ETA: corrections/adds

Re: Most Prestigious Credit Cards?!

XxRaVeNxX1 — Thu, 07 Apr 2016 20:17:11 GMT

Maybe prestige isn't the correct word, it isn't about ego.

Yet, afuche & galahad15 completely understand the question and the angle that I am trying to approach.

+1 on cards with the lowest APR, wasn't aware of these cards, will definitely look in those

+1 on the QuickSilver Card. Capital One actually upgraded my QuickSilver One card to the one with no 'member fee,' just a few months ago.

Re: Most Prestigious Credit Cards?!

Anonymous — Thu, 07 Apr 2016 20:31:53 GMT

@XxRaVeNxX1 wrote:
Maybe prestige isn't the correct word, it isn't about ego.

Yet, afuche & galahad15 completely understand the question and the angle that I am trying to approach.

+1 on cards with the lowest APR, wasn't aware of these cards, will definitely look in those

+1 on the QuickSilver Card. Capital One actually upgraded my QuickSilver One card to the one with no 'member fee,' just a few months ago.

Still a bit vague to me though! Some of the low APR cards are fairly hard to get, so you can feel (which IS ego!) "My credit is in great shape and the proof is that Simmons gave me a card". And very few third parties are going to say "Wow, you have one of those cards!" whereas the much easier to get Amex Plat might impress them (whether you care about impressing people so easilty impressed is left as an exercise to the reader)

Also, if you don't need a low APR, you might want some other type of card that gives rewards useful to you.

And finally, hard to get is also a fluid concept, some CU cards are hard to get because of tiny geographical restrictions

Re: Most Prestigious Credit Cards?!

redpat — Thu, 07 Apr 2016 20:46:22 GMT

It's all about the PPPPPPPPP's, points and perks. Especially if you travel for business and pleasure.

A low APR doesn't help only if you need to carry a balance.

Used up my plat 200 airline credit on AA Lounges, I have Citi prestige in my crosshairs......With 3 rounds of golf to boot.

Re: Most Prestigious Credit Cards?!

galahad15 — Thu, 07 Apr 2016 21:01:28 GMT

@redpat wrote:
It's all about the PPPPPPPPP's, points and perks. Especially if you travel for business and pleasure.

A low APR doesn't help only if you need to carry a balance.

Used up my plat 200 airline credit on AA Lounges, I have Citi prestige in my crosshairs......With 3 rounds of golf to boot.

With a few rare exceptions that pop up occasionally from time-to-time (i.e., the time-limited 6.50% V FNBO Amex with 1.5% cashback, also the limited-issue FNBO BucksBack VS at 11.25% V with 2% cashback, and some others -- the NBA Compass card possibly comes to mind as well? --, etc.), it is possible at least in theory to get a relatively-low APR card that has a decent rewards program The best of both worlds, of low APRs + rewards? I regularly keep my eyes peeled for these kinds of offers, lol...

Re: Most Prestigious Credit Cards?!

Anonymous — Thu, 07 Apr 2016 21:30:08 GMT

Credit unions often have 1% cashback cards with a 12% or lower minimum interest rate. It's much more difficult to find cards with both good comparative rewards AND a good interest rate unless they were obtained prior to the housing bubble collapse.

Re: Most Prestigious Credit Cards?!

CreditDunce — Thu, 07 Apr 2016 21:30:26 GMT

About the only cards that would impress me:

SM - at grocery store or wallmart

Honorable mention: AARP or SSFCU PTR at a restaurant... as long as it wasn't during a 5% rotating restaurant quarter.

There are cards I may app in the future for a sign on bonus or to diversify my CCC's, but there aren't any that meet my spend better than the ones I currently have. I am content.

Re: Most Prestigious Credit Cards?!

redpat — Thu, 07 Apr 2016 21:33:28 GMT

@galahad15 wrote:
@redpat wrote:
It's all about the PPPPPPPPP's, points and perks. Especially if you travel for business and pleasure.

A low APR doesn't help only if you need to carry a balance.

Used up my plat 200 airline credit on AA Lounges, I have Citi prestige in my crosshairs......With 3 rounds of golf to boot.
With a few rare exceptions that pop up ocassionally from time-to-time (i.e., the time-limited 6.50% FNBO Amex with 1.5% cashback, also the limited-issue FNBO BucksBack VS at 11.25% V with 2% cashback, and some others -- the NBA Compass card possibly comes to mind as well? --, etc.), it is possible at least in theory to get a relatively-low APR card that has a decent rewards program The best of both worlds, of low APRs + rewards? I regularly keep my eyes peeled for these kinds of offers lol...

Rewards yes, perks no. Also, cashback isn't alway the best benefit. You can work amex MR and chase UR to get 3 cents to 8 cents per point depending on redemption.

Plat 200 airline credit, FineHotelResort benefit, gold status SPG & Hilton, Priorty Pass, car rental upgrade status, global entry, TSA pre, Delta lounge to name a few. Prestige is just or some say more impressive with benefits. Not bad for a 200 - 250 annual cost of each card. These card benefits can surpass the rewards that other cards offer.

For example, I did my math for the prestige and I could get $1,500 - $2,000 annual net benefit from this card not including the points that I can stack with AMEX and Chase while not even using the Citi card much.

I know individuals don't like AF but if you travel and you must to get all these benefits then it is really a no brainer.

Re: Most Prestigious Credit Cards?!

Anonymous — Thu, 07 Apr 2016 21:38:37 GMT

Cards don't impress me. People do (especially those with good hearts).

That said, I think the most useful cards would be the ones that generate the most useful points, the largest level of flexibility, or the greatest amount of cash back. This may differ for everyone.

For me, these are the Chase Hyatt, the Double Cash, and the Amex BCP. I'm also liking the Ring card very much.

Re: Most Prestigious Credit Cards?!

Open123 — Thu, 07 Apr 2016 22:03:34 GMT

A Personal Amex Centurion is pretty impressive, but not the business one. JPM Palldium will raise some eyebrows, I suppose.

For me, I'm more impressed if the person is has or is using a card to maximize his benefits. For instance, if I see a person using a anything less than 2 cpp equivalent, I think to myself, "hope it's for a spending bonus." Or, if using an Airline card for general spend, "hope it's for a spend bonus or promo." Generally, I tend to be more impressed with those who both understand and maximize rewards, since it's what I'm into.

Re: Most Prestigious Credit Cards?!

galahad15 — Thu, 07 Apr 2016 22:15:56 GMT

@Anonymous wrote:
Credit unions often have 1% cashback cards with a 12% or lower minimum interest rate. It's much more difficult to find cards with both good comparative rewards AND a good interest rate unless they were obtained prior to the housing bubble collapse.

Very true, fair enough and touche I guess my main issue with credit unions thus far, is that it has hard to locate credit unions where I meet the geographical and membership criteria for. Western/Unify FCU is open to all to apply to, so I was fortunate in that regard, but some of the best CU rates and rewards programs, alas, I am sadly ineligible to join for geographical reasons. I also qualify I think for the Apple FCU membership criteria, but I will have to build my credit scores higher before I can even think of applying there. So I guess my earlier posts in the thread about rewards coupled with low APRs may have been much more targeted to the banks in general, versus the CUs.