topic Re: Name that Subprime Credit Card Company in Credit Cards

Name that Subprime Credit Card Company

Anonymous — Tue, 12 Apr 2011 03:45:48 GMT

Lets make a list of subprime Credit Card companies. I'll start it off...

1: HSBC

2: Creditone Bank

3: Capital One

Re: Name that Subprime Credit Card Company

creditguy-378 — Tue, 12 Apr 2011 03:51:22 GMT

don't forget the subprime of the subprime the good old FIRST PREMIER

Re: Name that Subprime Credit Card Company

creditguy-378 — Tue, 12 Apr 2011 03:53:25 GMT

followed by household bank , bryant state bank, urban trust bank and continental finance

Re: Name that Subprime Credit Card Company

MarineVietVet — Tue, 12 Apr 2011 04:04:53 GMT

I'll play devil's advocate here.

The problem with making such a list is defining exactly what "subprime" means.

Is it just a matter of opinion or are you going to use certain parameters to decide what is and what is not subprime?

Are all Cap 1 cards subprime or just some of them? Which are which?

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Re: Name that Subprime Credit Card Company

Anonymous — Tue, 12 Apr 2011 08:11:33 GMT

Yea I gotta agree.

Cap 1 has some pretty hefty prime cards that are very hard to obtain in the 'excellent credit' category.

Thing is, most people get the Cap 1 rebuilder cards. Then toss them when they get their scores up. And then for whatever reason forget Cap 1 has cards that cater to higher tierd FICO's, and at that point in time label Cap 1 as subprime or whatever. Maybe it's because during the rebuilding process they get so angry with Cap 1 because they don't budge on CLI's as their credit profile grows. Totally understandable. I have been there, done that with them, but I know it is because I got a rebuilder card in the beginning. And don't misinterpret what I am saying as defending Cap 1. But I do think that because they tend to basically hand out the lower end cards, it's easy to forget that they actually do have some nice prime CC products.

Of course I am speaking from my experience, and just making a guess as to what others might be thinking here.

Re: Name that Subprime Credit Card Company

Anonymous — Tue, 12 Apr 2011 04:10:48 GMT

Re: Name that Subprime Credit Card Company

vish1 — Tue, 12 Apr 2011 11:50:15 GMT

@Anonymous wrote:
Yea I gotta agree.

Cap 1 has some pretty hefty prime cards that are very hard to obtain in the 'excellent credit' category.
Thing is, most people get the Cap 1 rebuilder cards. Then toss them when they get their scores up. And then for whatever reason forget Cap 1 has cards that cater to higher tierd FICO's, and at that point in time label Cap 1 as subprime or whatever. Maybe it's because during the rebuilding process they get so angry with Cap 1 because they don't budge on CLI's as their credit profile grows. Totally understandable. I have been there, done that with them, but I know it is because I got a rebuilder card in the beginning. And don't misinterpret what I am saying as defending Cap 1. But I do think that because they tend to basically hand out the lower end cards, it's easy to forget that they actually do have some nice prime CC products.

Of course I am speaking from my experience, and just making a guess as to what others might be thinking here.

I agree cap1 has a few nice prime cards, but its the company's reputation as a sub prime lender. For the matter of fact, they are a million times better than FP or credit one.

If I was to add another card to my collection it won't be a cap1 prime. I don't trust that their support staff knows how to handle prime customers.

It's more for the same reason that toyota sells lexus through a entirely different car company.

Re: Name that Subprime Credit Card Company

Anonymous — Tue, 12 Apr 2011 12:14:47 GMT

No one mentioned Tribute?

Re: Name that Subprime Credit Card Company

JonStur — Tue, 12 Apr 2011 12:56:06 GMT

Tribute is no longer in business...

Re: Name that Subprime Credit Card Company

Anonymous — Tue, 12 Apr 2011 13:07:57 GMT

@JonStur wrote:
Tribute is no longer in business...

But a sub-prime lender nonetheless.

Re: Name that Subprime Credit Card Company

Anonymous — Tue, 12 Apr 2011 13:52:19 GMT

Well, someone already beat me to the punch my naming FP. So, I'll name another one... Applied Bank.

Re: Name that Subprime Credit Card Company

creditguy-378 — Tue, 12 Apr 2011 20:08:11 GMT

ya forgot about that one what about mbna back in the day i remember having a 1500 credit card and a 26.9APR

Re: Name that Subprime Credit Card Company

Anonymous — Tue, 12 Apr 2011 20:27:58 GMT

Re: Name that Subprime Credit Card Company

aftermath — Tue, 12 Apr 2011 20:28:58 GMT

Amex... after being subjected to an FR!

Re: Name that Subprime Credit Card Company

andre181 — Tue, 12 Apr 2011 20:31:12 GMT

Providian/WaMu

Re: Name that Subprime Credit Card Company

smc733 — Tue, 12 Apr 2011 21:59:01 GMT

@aftermath wrote:
Amex... after being subjected to an FR!

Amex is a "prime" lender, we can all agree, but as someone on another *ahem* board has once said, they rely on "very subprime" tactics, most notably, their "great customer service" goes down the drain with rude service for people who end up being FR'd.

Re: Name that Subprime Credit Card Company

Anonymous — Wed, 13 Apr 2011 01:37:24 GMT

@smc733 wrote:

@aftermath wrote:
Amex... after being subjected to an FR!
Amex is a "prime" lender, we can all agree, but as someone on another *ahem* board has once said, they rely on "very subprime" tactics, most notably, their "great customer service" goes down the drain with rude service for people who end up being FR'd.

No we can't. I think American Express business philosophy or FR or dropping anybody for any possible reason is not prime.

Re: Name that Subprime Credit Card Company

Anonymous — Wed, 13 Apr 2011 08:59:51 GMT

@creditguy-378 wrote:
ya forgot about that one what about mbna back in the day i remember having a 1500 credit card and a 26.9APR

I believe, that for the most part, they're referring to subprime-only lenders.

MBNA, for the most part, was a prime credit card company. Every credit card company may have accounts with higher interest rates, however, that doesn't represent their entire portfolio.

Anyway, I'm glad to have never done business with any of the subprime lender noted here, or any others.

Re: Name that Subprime Credit Card Company

Anonymous — Wed, 13 Apr 2011 11:36:43 GMT

@Anonymous wrote:
Lets make a list of subprime Credit Card companies. I'll start it off...

1: HSBC
2: Creditone Bank
3: Capital One

How is Capital One subprime? While they offer secured cards for rebuilding or establishing credit, that doesn't mean they are subprime. Wells Fargo, Bank of America, Citi, all offer secured cards and they are the furthest thing from subprime. Capital One has many cards for those with excellent credit. Also, they don't charge a foreign transaction fee or balance transfer fee. In addition to that, they make managing your account online very convenient. You can change the card image (at no charge) and set travel notifications. Capital One also has an online checking account that pays 1% interest and reimburses ATM fees amongst other nice banking options. I have a Capital One card that has 7% APR and $5,200 CL with no annual fee. To say that is subprime is just a joke.

Re: Name that Subprime Credit Card Company

llecs — Wed, 13 Apr 2011 13:52:38 GMT

"Sub-prime" is a relative term in our own minds. When we think "subprime" I believe most of us are thinking about First Premier, Applied Bank, the old Emblem, Tribute, Aspire and others from Columbus B&T, Credit One, and many more I'm sure. Then opinions tend to slide towards other CCs as well like Orchard, HSBC, etc.. I bet some in here think Amex is subprime by they way the sometimes treat their customers with FRs, etc. (I think Amex is great).

IMO, I'm in the camp that CapOne is subprime. While the APR wasn't too bad on mine at about 20%, the APR was higher than my Orchard which was under 15% and higher than DW's HSBC. Not only that, but I'm stuck at $1000 and CapOne almost never ever never gives CLIs, whereas HSBC/Orchard recently increased CLs. And CapOne pulls all 3 CRAs and then there's an annual fee. Now there have been a couple of posts in here that CapOne is doing FRs. Nuts! And I'm sure most CapOne CC cardholders are like this as well and that's where the stigma comes from with regards to CapOne being perceived as a subprime CC. I can't speak to everyone on here, but it's my own fault that I had a CapOne and should have waited until credit improved (back then) before apping. There seems to be a paradigm shift lately within CapOne, but 2-3+ years ago, their focus was on those who had lower credit scores. I see better limits now being posted by those who waited to apply with high scores.