topic Re: Simmons, Iberia & Other Unobtainables in Credit Cards

Simmons, Iberia & Other Unobtainables

Anonymous — Sat, 23 Aug 2014 23:21:26 GMT

My brother was just approved for a Simmons First CC and I am flush with jealousy. I'm rebuilding so I have to live vicariously through him to enjoy any aspect of the credit card experience.

It got me to wondering what other cards like this are out there for the credit card elites. I know about Iberia too. What else can a reformed maxer outer like me dream about?

Re: Simmons, Iberia & Other Unobtainables

NonSufficientFunds — Sat, 23 Aug 2014 23:26:43 GMT

Diners Club / Carte Blanche:

https://www.dinersclubus.com/home/professional-cards/profcards-l2/carte-blanche-card

Re: Simmons, Iberia & Other Unobtainables

mongstradamus — Sat, 23 Aug 2014 23:30:22 GMT

@Anonymous wrote:
My brother was just approved for a Simmons First CC and I am flush with jealousy. I'm rebuilding so I have to live vicariously through him to enjoy any aspect of the credit card experience.

It got me to wondering what other cards like this are out there for the credit card elites. I know about Iberia too. What else can a reformed maxer outer like me dream about?

This is quite an random question , but what benefits are there for simmons cards? When i go looking for the prg 50k signup bonus via card match those always show up for me, along with cap one, boa, and FP(Two FP cards) :-(

Re: Simmons, Iberia & Other Unobtainables

B335is — Sun, 24 Aug 2014 00:13:10 GMT

They always show up for my matched card offers as well. I heard the customer service is great, but each application is individually scrutinized and they are very picky about who they approve. My mom has a Simmons First (and Discover) that have never once been used in 15 years.

Re: Simmons, Iberia & Other Unobtainables

ezdoesit — Sun, 24 Aug 2014 00:55:53 GMT

@mongstradamus wrote:
@Anonymous wrote:
My brother was just approved for a Simmons First CC and I am flush with jealousy. I'm rebuilding so I have to live vicariously through him to enjoy any aspect of the credit card experience.

It got me to wondering what other cards like this are out there for the credit card elites. I know about Iberia too. What else can a reformed maxer outer like me dream about?
This is quite an random question , but what benefits are there for simmons cards? When i go looking for the prg 50k signup bonus via card match those always show up for me, along with cap one, boa, and FP(Two FP cards) :-(

To me unobtainables are cards that CS alone can not get you approved. The two cards you mentioned can be obtained with the right CR. Palladium or Centurion Card are two cards off the top of my head that not anyone can just walk in and apply for.

Re: Simmons, Iberia & Other Unobtainables

Anonymous — Sun, 24 Aug 2014 01:02:06 GMT

Because they're by invite only or because they have high AF or both?

Re: Simmons, Iberia & Other Unobtainables

mongstradamus — Sun, 24 Aug 2014 01:07:57 GMT

@Anonymous wrote:
Because they're by invite only or because they have high AF or both?

palladium don't you have to have an few million in assets with chase , thats an little too rich for my blood lol

Re: Simmons, Iberia & Other Unobtainables

ezdoesit — Sun, 24 Aug 2014 01:11:50 GMT

@mongstradamus wrote:
@Anonymous wrote:
Because they're by invite only or because they have high AF or both?
palladium don't you have to have an few million in assets with chase , thats an little too rich for my blood lol

I think you have to have a CPC relationship which requires 250k. I think that just because you have 250k with them doesn't mean you will still get approved for the card.

Re: Simmons, Iberia & Other Unobtainables

mongstradamus — Sun, 24 Aug 2014 01:15:31 GMT

@ezdoesit wrote:
@mongstradamus wrote:
@Anonymous wrote:
Because they're by invite only or because they have high AF or both?
palladium don't you have to have an few million in assets with chase , thats an little too rich for my blood lol
I think you have to have a CPC relationship which requires 250k. I think that just because you have 250k with them doesn't mean you will still get approved for the card.

According to wikipedia you need 25 million in aseets that chase manages for you , I don't know how accurate that is, but that an crap ton lol

Re: Simmons, Iberia & Other Unobtainables

09Lexie — Sun, 24 Aug 2014 01:21:41 GMT

@mongstradamus wrote:
@ezdoesit wrote:
@mongstradamus wrote:
@Anonymous wrote:
Because they're by invite only or because they have high AF or both?
palladium don't you have to have an few million in assets with chase , thats an little too rich for my blood lol
I think you have to have a CPC relationship which requires 250k. I think that just because you have 250k with them doesn't mean you will still get approved for the card.
According to wikipedia you need 25 million in aseets that chase manages for you , I don't know how accurate that is, but that an crap ton lol

That's not accurate. CPC requires $250k in assets. A few years ago you just needed a banker's endorsement but I believe they closed that loophole.

Re: Simmons, Iberia & Other Unobtainables

mongstradamus — Sun, 24 Aug 2014 01:25:19 GMT

@09Lexie wrote:
@mongstradamus wrote:
@ezdoesit wrote:
@mongstradamus wrote:
@Anonymous wrote:
Because they're by invite only or because they have high AF or both?
palladium don't you have to have an few million in assets with chase , thats an little too rich for my blood lol
I think you have to have a CPC relationship which requires 250k. I think that just because you have 250k with them doesn't mean you will still get approved for the card.
According to wikipedia you need 25 million in aseets that chase manages for you , I don't know how accurate that is, but that an crap ton lol
That's not accurate. CPC requires $250k in assets. A few years ago you just needed a banker's endorsement but I believe they closed that loophole.

well tell wikipedia they need to fix that article :-)

Re: Simmons, Iberia & Other Unobtainables

09Lexie — Sun, 24 Aug 2014 01:28:13 GMT

@mongstradamus wrote:
@09Lexie wrote:
@mongstradamus wrote:
@ezdoesit wrote:
@mongstradamus wrote:
@Anonymous wrote:
Because they're by invite only or because they have high AF or both?
palladium don't you have to have an few million in assets with chase , thats an little too rich for my blood lol
I think you have to have a CPC relationship which requires 250k. I think that just because you have 250k with them doesn't mean you will still get approved for the card.
According to wikipedia you need 25 million in aseets that chase manages for you , I don't know how accurate that is, but that an crap ton lol
That's not accurate. CPC requires $250k in assets. A few years ago you just needed a banker's endorsement but I believe they closed that loophole.
well tell wikipedia they need to fix that article :-)

I had heard that before, not really sure where that's coming from; maybe with those kind of assets you are guaranteed approval.

Re: Simmons, Iberia & Other Unobtainables

mongstradamus — Sun, 24 Aug 2014 01:30:45 GMT

@09Lexie wrote:
@mongstradamus wrote:
@09Lexie wrote:
@mongstradamus wrote:
@ezdoesit wrote:
@mongstradamus wrote:
@Anonymous wrote:
Because they're by invite only or because they have high AF or both?
palladium don't you have to have an few million in assets with chase , thats an little too rich for my blood lol
I think you have to have a CPC relationship which requires 250k. I think that just because you have 250k with them doesn't mean you will still get approved for the card.
According to wikipedia you need 25 million in aseets that chase manages for you , I don't know how accurate that is, but that an crap ton lol
That's not accurate. CPC requires $250k in assets. A few years ago you just needed a banker's endorsement but I believe they closed that loophole.
well tell wikipedia they need to fix that article :-)
I had heard that before, not really sure where that's coming from; maybe with those kind of assets you are guaranteed approval.

they quoted bloomberg i think for that 25 million , maybe that automatic approval like you say.

Re: Simmons, Iberia & Other Unobtainables

Anonymous — Sun, 24 Aug 2014 01:48:19 GMT

But back on topic, the value proposition of these cards are the low fixed APR, so Simmons is 7.25% for the Visa Plat. Now some have cards lower than that, the Barclays Ring is not much higher.

I think (among a fairly small set!) these cards have some mystique. The app process is lengthy, so it might seem exclusive, but not sure that the product is really worth the effort.

Re: Simmons, Iberia & Other Unobtainables

mongstradamus — Sun, 24 Aug 2014 01:49:30 GMT

@Anonymous wrote:
But back on topic, the value proposition of these cards are the low fixed APR, so Simmons is 7.25% for the Visa Plat. Now some have cards lower than that, the Barclays Ring is not much higher.

I think (among a fairly small set!) these cards have some mystique. The app process is lengthy, so it might seem exclusive, but not sure that the product is really worth the effort.

hmm interesting , if i wanted an low apr card i think i would go CU route. Simmons cards aren't for me i suppose

Re: Simmons, Iberia & Other Unobtainables

dilettante — Sun, 24 Aug 2014 02:08:08 GMT

@mongstradamus wrote:
@09Lexie wrote:
@mongstradamus wrote:
@09Lexie wrote:
@mongstradamus wrote:
@ezdoesit wrote:
@mongstradamus wrote:
@Anonymous wrote:
Because they're by invite only or because they have high AF or both?
palladium don't you have to have an few million in assets with chase , thats an little too rich for my blood lol
I think you have to have a CPC relationship which requires 250k. I think that just because you have 250k with them doesn't mean you will still get approved for the card.
According to wikipedia you need 25 million in aseets that chase manages for you , I don't know how accurate that is, but that an crap ton lol
That's not accurate. CPC requires $250k in assets. A few years ago you just needed a banker's endorsement but I believe they closed that loophole.
well tell wikipedia they need to fix that article :-)
I had heard that before, not really sure where that's coming from; maybe with those kind of assets you are guaranteed approval.
they quoted bloomberg i think for that 25 million , maybe that automatic approval like you say.

IIRC what my banker told me, JP Morgan used to only offer it to their UHNW clients. That's why the 25 million in assets figure is still quoted, though they really should update that info. Lexie is correct in that for a short while, there was a loophole where people were able to get the card by just faxing in an application directly to the UW but that has since been closed and now you need an endorsement from at least a CPC banker to apply for the card.

The criteria now I believe is that you need at least 250k in assets (through investments, savings, checkings) at Chase or the promise of at least that much within a year to apply for the Palladium. You also have to have a credit profile that is eligible for a 15k minimum CL. It's not that hard to get the card if you're a CPC client, I was instantly approved though it was my fourth Chase card in 4 months. The hardest part is trying to get the AF waived as a CPC. I've heard that if you're UHNW client, they will be more lenient toward UW qualificatons and be more receptive to waiving the AF.

Re: Simmons, Iberia & Other Unobtainables

Gollum — Thu, 11 Sep 2014 08:53:52 GMT

@Anonymous wrote:
But back on topic, the value proposition of these cards are the low fixed APR, so Simmons is 7.25% for the Visa Plat. Now some have cards lower than that, the Barclays Ring is not much higher.

I think (among a fairly small set!) these cards have some mystique. The app process is lengthy, so it might seem exclusive, but not sure that the product is really worth the effort.

The application process for Simmons First is not lengthy. I filled out a simple paper application (employment/income/debt/address), then mailed it. It was one page. Actual humans review the applications, then approve/disapprove. Simmons First states/warns upfront on their website that applicants without excellent credit will not be approved.

Re: Simmons, Iberia & Other Unobtainables

Anonymous — Thu, 11 Sep 2014 18:16:33 GMT

@Gollum wrote:
@Anonymous wrote:
But back on topic, the value proposition of these cards are the low fixed APR, so Simmons is 7.25% for the Visa Plat. Now some have cards lower than that, the Barclays Ring is not much higher.

I think (among a fairly small set!) these cards have some mystique. The app process is lengthy, so it might seem exclusive, but not sure that the product is really worth the effort.

The application process for Simmons First is not lengthy. I filled out a simple paper application (employment/income/debt/address), then mailed it. It was one page. Actual humans review the applications, then approve/disapprove. Simmons First states/warns upfront on their website that applicants without excellent credit will not be approved.

I agree the application is not lengthy. I applied online then mailed in check stubs and signed application. Two weeks card was in mailbox. I love how old fashioned Simmons first is and that 7.25 int is sweet. Thats my emergency card.

Re: Simmons, Iberia & Other Unobtainables

1GaDawg85 — Thu, 11 Sep 2014 19:15:04 GMT

no card is exclusive anymore....just have enough money or know the right people and any card can be in your hands

Re: Simmons, Iberia & Other Unobtainables

Anonymous — Thu, 11 Sep 2014 19:42:20 GMT

@1GaDawg85 wrote:
no card is exclusive anymore....just have enough money or know the right people and any card can be in your hands

Well, that's sort of part of being exclusive, right? If a card neeeds $100B in assets, or a personal recommendation of the President and House Leader (for US applicants), most would be excluded.