topic Re: Do I have prime cards ? in Credit Cards

Do I have prime cards ?

Anonymous — Mon, 25 Aug 2014 21:00:00 GMT

Seeing the term being used frequently here in the forum. Do I have any prime cards ?

Boa cash rewards

macys

discover it

chase sapphire preferred

chase freedom

what. Are other prime cards ?

Re: Do I have prime cards ?

Anonymous — Mon, 25 Aug 2014 21:47:13 GMT

Id say you have quite a few

Re: Do I have prime cards ?

Anonymous — Mon, 25 Aug 2014 21:52:11 GMT

@Anonymous wrote:
Id say you have quite a few

Alright thanks for the insight... i guess it varies from person to person

Re: Do I have prime cards ?

Anonymous — Mon, 25 Aug 2014 21:55:25 GMT

Just to be clear (I'm on mobile so I can't see
Your signature) the cards listed in your post are yours correct? CSP, Discover, Freedom..those are all prime cards. To me a prime card is from a major lender (amex, chase, boa, discover) that offer the highest credit lines and best interest rates without the ridiculous fees.

Re: Do I have prime cards ?

Kenny — Mon, 25 Aug 2014 22:00:54 GMT

@Anonymous wrote:
Seeing the term being used frequently here in the forum. Do I have any prime cards ?
Boa cash rewards
macys
discover it
chase sapphire preferred
chase freedom

what. Are other prime cards ?

Yes, you do. Congrats on your approvals!

Re: Do I have prime cards ?

alvon123 — Mon, 25 Aug 2014 22:21:15 GMT

congrats

Re: Do I have prime cards ?

chalupaman — Mon, 25 Aug 2014 23:25:22 GMT

You defintitely do! That's the first thing I saw when I saw you got a CSP. Congratulations!

Re: Do I have prime cards ?

CreditMagic7 — Mon, 25 Aug 2014 23:38:13 GMT

Congrats! You DO have Prime Cards!

Re: Do I have prime cards ?

Anonymous — Mon, 25 Aug 2014 23:40:10 GMT

yeah those are my cards, same as my signature!

@Anonymous wrote:
Just to be clear (I'm on mobile so I can't see
Your signature) the cards listed in your post are yours correct? CSP, Discover, Freedom..those are all prime cards. To me a prime card is from a major lender (amex, chase, boa, discover) that offer the highest credit lines and best interest rates without the ridiculous fees.

Re: Do I have prime cards ?

Anonymous — Mon, 25 Aug 2014 23:41:15 GMT

Thanks! hearing the cards i have are nice is like my nicotine. stops me from applying to other cards.

@KennyRS wrote:
@Anonymous wrote:
Seeing the term being used frequently here in the forum. Do I have any prime cards ?
Boa cash rewards
macys
discover it
chase sapphire preferred
chase freedom

what. Are other prime cards ?
Yes, you do. Congrats on your approvals!

Re: Do I have prime cards ?

Anonymous — Mon, 25 Aug 2014 23:43:19 GMT

@chalupaman wrote:
You defintitely do! That's the first thing I saw when I saw you got a CSP. Congratulations!

thank you~!

Re: Do I have prime cards ?

Anonymous — Mon, 25 Aug 2014 23:57:19 GMT

@Anonymous wrote:
@chalupaman wrote:
You defintitely do! That's the first thing I saw when I saw you got a CSP. Congratulations!
thank you~!

But to answer the question in general: there is no really good definition of prime card. A good guess would be "a card from a prime lender" but many/most issuers lend to both prime and subprime clients. There is more general agreement about was ISN'T prime, e.g. First Premier, Credit One. Any card that charges a monthly fee, has a very high APR and a very low CL isn't prime.

But, for example, you can get a Chase Freedom (at a high APR and a low CL) with pretty low scores, or one with a low APR and high CL with high scores. Is Chase Freedom prime? Most would say Yes, but if it has a $500 CL and a 25% APR, maybe not so clear!

And Capital One comes in for the most, some of their cards are certainly giving to rebuilders, non-prime borrowers. Some of their other cards require much better scores. Others, like the Chase Freedom, can be issued to both low and high scores.

So, IMO, if you even want to worry about prime/non-prime, it's not the bank or even the card, it's the terms of the card!

Re: Do I have prime cards ?

Closingracer99 — Mon, 25 Aug 2014 23:58:36 GMT

@Anonymous wrote:
Seeing the term being used frequently here in the forum. Do I have any prime cards ?
Boa cash rewards
macys
discover it
chase sapphire preferred
chase freedom

what. Are other prime cards ?

Other then the Macy's yeah imo

Re: Do I have prime cards ?

Closingracer99 — Tue, 26 Aug 2014 00:00:31 GMT

@Anonymous wrote:
@Anonymous wrote:
@chalupaman wrote:
You defintitely do! That's the first thing I saw when I saw you got a CSP. Congratulations!
thank you~!
But to answer the question in general: there is no really good definition of prime card. A good guess would be "a card from a prime lender" but many/most issuers lend to both prime and subprime clients. There is more general agreement about was ISN'T prime, e.g. First Premier, Credit One. Any card that charges a monthly fee, has a very high APR and a very low CL isn't prime.

But, for example, you can get a Chase Freedom (at a high APR and a low CL) with pretty low scores, or one with a low APR and high CL with high scores. Is Chase Freedom prime? Most would say Yes, but if it has a $500 CL and a 25% APR, maybe not so clear!

And Capital One comes in for the most, some of their cards are certainly giving to rebuilders, non-prime borrowers. Some of their other cards require much better scores. Others, like the Chase Freedom, can be issued to both low and high scores.

So, IMO, if you even want to worry about prime/non-prime, it's not the bank or even the card, it's the terms of the card!

I view as Cap 1 Sub prime trying to act like Prime sometimes

Re: Do I have prime cards ?

chalupaman — Tue, 26 Aug 2014 00:04:28 GMT

CapOne hasn't been too bad for me in all honesty. Sure the customer service itself isn't top notch like what Amex and Discover have but they were generous enough to upgrade my college card after a couple of months so who knows what they might do for me next month when my sixth statement generates. And the 1.5% cashback on everything is also quite nice.

Re: Do I have prime cards ?

tmbr10 — Tue, 26 Aug 2014 00:10:46 GMT

I agree. 4 of your 5 listed cards can be considered prime with the right terms. Looks like you should cultivate these cards over time and get some "prime" CL's.

Re: Do I have prime cards ?

Anonymous — Tue, 26 Aug 2014 00:11:43 GMT

@Closingracer99 wrote:
@Anonymous wrote:
@Anonymous wrote:
@chalupaman wrote:
You defintitely do! That's the first thing I saw when I saw you got a CSP. Congratulations!
thank you~!
But to answer the question in general: there is no really good definition of prime card. A good guess would be "a card from a prime lender" but many/most issuers lend to both prime and subprime clients. There is more general agreement about was ISN'T prime, e.g. First Premier, Credit One. Any card that charges a monthly fee, has a very high APR and a very low CL isn't prime.

But, for example, you can get a Chase Freedom (at a high APR and a low CL) with pretty low scores, or one with a low APR and high CL with high scores. Is Chase Freedom prime? Most would say Yes, but if it has a $500 CL and a 25% APR, maybe not so clear!

And Capital One comes in for the most, some of their cards are certainly giving to rebuilders, non-prime borrowers. Some of their other cards require much better scores. Others, like the Chase Freedom, can be issued to both low and high scores.

So, IMO, if you even want to worry about prime/non-prime, it's not the bank or even the card, it's the terms of the card!
Eh

I view as Cap 1 Sub prime trying to act like Prime sometimes

Specially with the quicksilver!

Re: Do I have prime cards ?

Anonymous — Tue, 26 Aug 2014 00:14:06 GMT

@tmbr10 wrote:
I agree. 4 of your 5 listed cards can be considered prime with the right terms. Looks like you should cultivate these cards over time and get some "prime" CL's.

thats would be my next goal!

Re: Do I have prime cards ?

Anonymous — Tue, 26 Aug 2014 00:15:46 GMT

@Anonymous wrote:
@Anonymous wrote:
@chalupaman wrote:
You defintitely do! That's the first thing I saw when I saw you got a CSP. Congratulations!
thank you~!
But to answer the question in general: there is no really good definition of prime card. A good guess would be "a card from a prime lender" but many/most issuers lend to both prime and subprime clients. There is more general agreement about was ISN'T prime, e.g. First Premier, Credit One. Any card that charges a monthly fee, has a very high APR and a very low CL isn't prime.

But, for example, you can get a Chase Freedom (at a high APR and a low CL) with pretty low scores, or one with a low APR and high CL with high scores. Is Chase Freedom prime? Most would say Yes, but if it has a $500 CL and a 25% APR, maybe not so clear!

And Capital One comes in for the most, some of their cards are certainly giving to rebuilders, non-prime borrowers. Some of their other cards require much better scores. Others, like the Chase Freedom, can be issued to both low and high scores.

So, IMO, if you even want to worry about prime/non-prime, it's not the bank or even the card, it's the terms of the card!

Good points im starting to see imo that to be prime if its a big lender... i was basing my prime cards with credit score approvals... but i saw some great cards that dont need that monster of a credit score.

Re: Do I have prime cards ?

Anonymous — Tue, 26 Aug 2014 03:16:31 GMT

You know if they're prime... deep down inside lol.