topic Re: Primeville? in Credit Cards

Primeville?

afbar1114 — Sun, 21 Oct 2012 22:38:37 GMT

what banks or cards do you consider to be prime? i think i am sitting good in prime ville right now.

Re: Primeville?

jsucool76 — Sun, 21 Oct 2012 22:43:43 GMT

I would say...

Amex, Citi, Chase, some BoA Products I guess, but I've heard bad things about them

Also...a few cap1 cards I would consider prime

Prime is really in the wallet of the beholder though xD

Re: Primeville?

youngandcreditwrthy — Sun, 21 Oct 2012 22:45:27 GMT

Discover tooo!!!:-D even Barclay's!

Re: Primeville?

jsucool76 — Sun, 21 Oct 2012 22:46:58 GMT

@youngandcreditwrthy wrote:
Discover tooo!!!:-D even Barclay's!

Ooo, I didn't even think about Barclays

I'm still iffy on discover, that .25% till $3,000 spend pisses me off, even if it isn't really that big of a difference. I guess it is good for rotating categories, but that is about it, on regular spending my cap1 earns more cash back, even my paypal smart connect earns more cash back on regular spending

Re: Primeville?

afbar1114 — Sun, 21 Oct 2012 22:49:46 GMT

so it seems like most people consider the same cards prime. i think some banks are much better then ohters.

Re: Primeville?

kobe2012 — Sun, 21 Oct 2012 22:55:41 GMT

Is barclays really a prime card??? Just curious

Re: Primeville?

youngandcreditwrthy — Sun, 21 Oct 2012 22:59:57 GMT

Oh no! Lol I hate Discover's cash back (I'm sure someone's gonna chime in and be sarcastic at this point LOL)....

But they are darn hard to get approved for hahaha! I just used my motiva for a small bal xfer. Haha

Barclay's is pretty prime...sure they do well with recons, but overall...imo, they are prime.... I mean a $6500 limit for Travelocity Amex (my only Barclay's acct) seems prime to me hahha:-p

Re: Primeville?

cardslayer — Sun, 21 Oct 2012 23:04:24 GMT

What constitutes "Prime"? I know that I had the Chase SW card for > 5yrs, and never got more than $1k CL. No CLI, auto or self-requested (with hard pull). Even got CLD'd a few years back. Closed it and reallocated the CL to Freedom. To me, the SW card wasn't prime, although it was Chase and a decent product otherwise. The criteria has to include CLI's, customer service, and CL's for "prime" designation.

One thing to keep in mind with discover is it's pretty useless as a true CB type of card. As mentioned, the 0.25% is laughable. Where Discover shines for me is with Shop Discover, where I have earned pretty good CB over the past few months. Also, the 5% CB categories - when they're not exactly the same as the Chase Freedom in which case Freedom wins since I have checking account for 10/10 bonus. Since the 5% CB segments, and the Shop Discover charges don't count towards the $3k annual to get 1% cashback, I hope that I never do get the 1% CB.

Re: Primeville?

migliogiorni — Sun, 21 Oct 2012 23:10:51 GMT

This question keeps popping up and the answers vary from person to person. There's alot that goes into this one...

Re: Primeville?

gijoe4500 — Sun, 21 Oct 2012 23:23:47 GMT

@migliogiorni wrote:
This question keeps popping up and the answers vary from person to person. There's alot that goes into this one...

+1. I would consider my paypal card to be "prime" for me. But it may not be for someone else. The points would out to be 2.5% cash back on gasoline, which is great in my opinion. It fits my needs perfectly.

Re: Primeville?

navigatethis12 — Sun, 21 Oct 2012 23:25:56 GMT

PNC, Chase, FIA, and Citi. Chase may be the best since their sign up bonuses are always the best. I would hate to get blacklisted by them. PNC is a close second with their 1.75% cashback. All the ones I mentioned have very good customer service and nice cards for different people.

Re: Primeville?

Anonymous — Sun, 21 Oct 2012 23:28:46 GMT

I tend to think of subprime cards as cards that aren't ends in themselves, but are a means to the ends of established credit, better scores, and better credit cards. So prime cards would be cards that are an end in themselves, cards that you get because you want the direct benefits and rewards of that specific card.

Re: Primeville?

Revelate — Mon, 22 Oct 2012 00:03:04 GMT

I hate the word "prime" as some sort of credit card or lender measuring stick. It really isn't .

For every lender mentioned I can give examples cards which can be obtained by sub-prime borrowers, by any of the classical definitions of sub-prime. With the fact that pretty much everyone who's a prime borrower has a credit card if they want one, and as a result it's red-water competition in that market space, all the lenders recently have been doing a race to the bottom, or some financial form of the limbo, to try to get new customers in the boat where there are folks who weren't in their historical portfolio.

For a few examples: Freedoms can be obtained by the majority of the folks with one year clean and a FICO in the 620-630 range since June and sometimes without even going through Chase's vaunted recon at 640+. Another one, BOFA, whose 1-2-3 rewards was an entry package for prime borrowers even a year or two ago, put it on their secured card of all things. People with much higher FICO's than mine still have those cards and are using them well, and yet I've got the same reward package.

I personally think that credit cards shouldn't be used for any sort of measurement of self-worth, not only is it an inconsistent standard by most measurements, it's a pretty empty one too in my opinion. Every one of my cards is technically a subprime product as I'm a subprime consumer, and I'm just fine with that... and I could absolutely get a Chase card too if I desired for that matter too to add to both my BOFA and Amex cards. Short of Penfed and I'm starting to doubt this looking at their recent auto-loan underwriting standards, I can't name a single other well known lender (at least on these forums) that isn't catering to subprime borrowers.

End of the day, if the card works for you, then it's a good card. If it doesn't, then it should be re-evaluated or replaced when possible. That's all the matters honestly.

Edit: I have become way too sloppy over time, missing whole words even. Tried to fix.

Re: Primeville?

Anonymous — Mon, 22 Oct 2012 00:26:26 GMT

If it works for you and does what you need it to, it's prime. My prime isn't someone else's prime. I'm completely content right now with my new Discover and USAA. Happy to have our feet in the door with Chase. I know there are cards and limits WAAAAAY better than mine, but mine work for me.

When I finish my MBA and am making better money, my perception if "prime" will probably change. I'll probably want a Citi or AMEX, and consider those better than what I have now. We'll see.

Re: Primeville?

Brian_Trying_700 — Mon, 22 Oct 2012 00:35:23 GMT

No AF with rewards. Great customer service is a major+

Re: Primeville?

afbar1114 — Mon, 22 Oct 2012 00:38:42 GMT

it seems like everyone has their own thoughts on this. i think for me its chase amex boa discover. or any other card i wanted and never got. for me all my cards MUST have rewards. although i do have AMEX with AF but amex CSR is awesome and it forces me to pay it off every month.

Re: Primeville?

Anonymous — Mon, 22 Oct 2012 01:58:02 GMT

@Brian_Trying_700 wrote:
No AF with rewards. Great customer service is a major+

The AF thing is really important. I know some ppl try to justify the AF by saying if the rewards will make back the AF.

Make Back?! Really??

If there wasn't an AF to begin with, then you would have even Moreee rewards left over.

But I can see their aruguments, I just don't belive its worth it.

So IMO, prime MUST, and I mean MUST not have any AF.

Re: Primeville?

afbar1114 — Mon, 22 Oct 2012 01:59:45 GMT

I like my amex it doesnt bother me it has af cap1 does

Re: Primeville?

Anonymous — Mon, 22 Oct 2012 02:06:45 GMT

A card with low interest rates would be prime for me......

Re: Primeville?

HiLine — Mon, 22 Oct 2012 02:09:28 GMT

For personal credit cards, roughly:

Tier 1: Any airlines- or hotel-sponsored cards, most Amex-issued cards, and any other cards that have an annual fee close to or above $100.

Tier 2: Cards with the most generous cash back rewards without an annual fee: Discover More, Chase Freedom, U.S. Bank Cash+, Blue Cash Everyday, etc.

Tier 3: Most other travel rewards cards