topic Re: Buy power in Credit Cards

Buy power

Sbrooks1 — Wed, 01 Jun 2016 01:58:58 GMT

How depressing to learn that my BP card is in credit steps! Thought I finally had a prime cad with a low limit. This makes three Cap one sub prime cards😩I will never see the light

Re: Buy power

Anonymous — Wed, 01 Jun 2016 02:10:03 GMT

That's actually a good thing since that makes you CLI eligible in a regular timeframe for the first bump then the credit steps bump. Stop looking at them as sub prime though it will keep your down..Look up that you got approved

Re: Buy power

CountryLivin — Wed, 01 Jun 2016 02:18:40 GMT

At least you were approved for it....I know quite a few people that got a hard pull and then were denied. Congratulations! The card really isn't a bad one!

Re: Buy power

Sbrooks1 — Wed, 01 Jun 2016 02:21:17 GMT

Thanks guys, I am grateful , just thought it was my way out of sub prime !! However , it is 0 % for 1 yr , no interest n buying a gm product tho

Re: Buy power

RonM21 — Wed, 01 Jun 2016 10:12:54 GMT

@tamaralig wrote:
That's actually a good thing since that makes you CLI eligible in a regular timeframe for the first bump then the credit steps bump. Stop looking at them as sub prime though it will keep your down..Look up that you got approved

Good point!

Re: Buy power

Loquat — Wed, 01 Jun 2016 11:29:20 GMT

Prime, subprimes, it doesn't matter. Don't let yourself get caught up in titles. The only things that really matter is that you're using your credit responsibly, making payments on time, increasing you AAoA, limits, and scores. As long as you swipe your card and that screen says APPROVED then that's all that matters. Don't get caught in the mentality of prime vs subprimes...world/elite mastercard vs visa signature vs platinum. It's all titles and most people around here who seek those rarely, if ever, use the features that comes with the cards.

Re: Buy power

takeshi74 — Wed, 01 Jun 2016 12:39:52 GMT

@Sbrooks1 wrote:
Thought I finally had a prime cad with a low limit.

Despite the misuse of the word, prime is relevant to the borrower, not the card or creditor. The way it's commonly used is so subjective that it really doesn't mean much. Select cards that specifically suit your needs/wants, not based on your perception of whether it is prime or not.

@Sbrooks1 wrote:
Thanks guys, I am grateful , just thought it was my way out of sub prime !!

A card does not make you prime/subprime. Your credit profile does. If you want out then identify the issues in your reports and work on addressing them.