topic Re: Easy card to get that is considered prime? in Credit Cards

Easy card to get that is considered prime?

Schoolbuskid — Fri, 04 Jul 2008 01:17:00 GMT

I need one more good card to complete my apping...any ideas?

My scores are TU-636 EX-619 EQ-606

No baddies except for 1 medical collection unpaid!

Message Edited by Schoolbuskid on 07-03-2008 06:17 PM

Re: Easy card to get that is considered prime?

Anonymous — Fri, 04 Jul 2008 01:20:14 GMT

Total Visa

Re: Easy card to get that is considered prime?

Anonymous — Fri, 04 Jul 2008 01:55:59 GMT

If you want to wait a bit, app for an American Express Green Preferred Rewards. It's a charge card. It's not a credit card. It will still look good on your report. It will not count towards your util.

Good Luck

Re: Easy card to get that is considered prime?

Anonymous — Fri, 04 Jul 2008 02:20:18 GMT

I agree with the Amex recommendation, as long as that unpaid collection is more than two years old.

Re: Easy card to get that is considered prime?

Schoolbuskid — Fri, 04 Jul 2008 03:38:36 GMT

nope its not more than two years old...it was assigned in October 07! What about National City?

Re: Easy card to get that is considered prime?

Anonymous — Fri, 04 Jul 2008 04:48:11 GMT

*showing ignorance*

What's a "charge card" and what's the difference? Especially with an AMEX charge card???

Re: Easy card to get that is considered prime?

Schoolbuskid — Fri, 04 Jul 2008 04:50:16 GMT

i would like to know as well? Does that Amex account report limits?

Re: Easy card to get that is considered prime?

fused — Fri, 04 Jul 2008 04:54:24 GMT

- Amex charge cards: Green, the Gold's and Platinum do not report CLs only high balance (similar to how Cap1 use to).

- Amex credit cards report CL and balance

Re: Easy card to get that is considered prime?

Anonymous — Fri, 04 Jul 2008 05:01:02 GMT

A charge card must be paid in full every month. Unlike credit cards, there is no option to revolve a balance, or to carry a balance from one month to the next. Anything less than payment of the balance in full each month, and the cardholder is considered delinquent.

Amex's traditional credit product is charge cards. Today, however, they offer charge cards and credit cards both.

Amex charge cards do not have a credit limit in the same sense that a credit card does. They are advertised as having no preset spending limit, although they do place an internal limit on your monthly spending that changes from month to month, and is based on your monthly spending patterns and payment history with Amex.

Because of their history in the charge card business and their overall skittishness in general, it is advisable to treat any Amex credit product as a PIF-type card. Even if you have a card that allows you to carry a balance, they really hate it when you do, and have been known to get nervous and close accounts or lower limits on credit cardholders who carry a balance for more than a few months at a time.

Re: Easy card to get that is considered prime?

Watchmann — Fri, 04 Jul 2008 05:34:06 GMT

cheddar wrote:

---------------------------------

True if you have a short history with AMEX, but the longer the history the more lenient they are with you carrying a balance. I've carried balances with AMEX for six months or so with no effect on my CL (in fact they increased the CL during these periods), but that is with a 28 year credit history. The greatest asset with AMEX is TIME, so you might as well get started. Once they trust you you will have a very good relationship with them. I've probably pushed close to $1,000,000 through my three accounts with them over the years with never a missed payment. They do not worry about me carrying an $8k to $10k balance for a few months on my Optima card. Their internal risk programs and their continual softing of my approx 790 FICO score causes them no concern.

Message Edited by Watchmann on 07-03-2008 10:34 PM

Re: Easy card to get that is considered prime?

Anonymous — Fri, 04 Jul 2008 05:44:36 GMT

Watchmann wrote:

cheddar wrote:

Because of their history in the charge card business and their overall skittishness in general, it is advisable to treat any Amex credit product as a PIF-type card. Even if you have a card that allows you to carry a balance, they really hate it when you do, and have been known to get nervous and close accounts or lower limits on credit cardholders who carry a balance for more than a few months at a time.

---------------------------------

True if you have a short history with AMEX, but the longer the history the more lenient they are with you carrying a balance. I've carried balances with AMEX for six months or so with no effect on my CL (in fact they increased the CL during these periods), but that is with a 28 year credit history. The greatest asset with AMEX is TIME, so you might as well get started. Once they trust you you will have a very good relationship with them. I've probably pushed close to $1,000,000 through my three accounts with them over the years with never a missed payment. They do not worry about me carrying an $8k to $10k balance for a few months on my Optima card. Their internal risk programs and their continual softing of my approx 790 FICO score causes them no concern.

Message Edited by Watchmann on 07-03-2008 10:34 PM

My post was obviously in response to those who didn't know what a charge card was, and who therefore don't have a 28-year history with Amex.

I'm happy for you that they are so lenient with you. They obviously love you. I can't count how many times I have read that you have a 28-year history with Amex.

We get it. They love you.

Message Edited by cheddar on 07-03-2008 10:44 PM

Re: Easy card to get that is considered prime?

fused — Fri, 04 Jul 2008 06:31:03 GMT

Watchmann wrote:

cheddar wrote:

Because of their history in the charge card business and their overall skittishness in general, it is advisable to treat any Amex credit product as a PIF-type card. Even if you have a card that allows you to carry a balance, they really hate it when you do, and have been known to get nervous and close accounts or lower limits on credit cardholders who carry a balance for more than a few months at a time.

---------------------------------

True if you have a short history with AMEX, but the longer the history the more lenient they are with you carrying a balance. I've carried balances with AMEX for six months or so with no effect on my CL (in fact they increased the CL during these periods), but that is with a 28 year credit history. The greatest asset with AMEX is TIME, so you might as well get started. Once they trust you you will have a very good relationship with them. I've probably pushed close to $1,000,000 through my three accounts with them over the years with never a missed payment. They do not worry about me carrying an $8k to $10k balance for a few months on my Optima card. Their internal risk programs and their continual softing of my approx 790 FICO score causes them no concern.

Message Edited by Watchmann on 07-03-2008 10:34 PM

I love Amex and I also agree with your comments. When it comes to Amex, a long-term relationship means a ton. However, we have to remind posters new to Amex that their new relation with Amex requires babysitting, diaper changing and breast feeding. Amex not only reviews your behavior with them, but also your behavior with ALL of your creditors. And when they see something they don't like with one of your other creditors, they are the first CCC to take AA (adverse action)...close accounts, request a FR (financial review) or raise your rates. But to reiterate, I am a HUGE Amex lover. They have been extremely generous with me and go to great lengths to keep me happy as a card holder.

Re: Easy card to get that is considered prime?

heirophant — Fri, 04 Jul 2008 08:51:47 GMT

Alright, I'll play since this thread has gone a different direction than the original post: how long of a history of PIF do you guys believe they would need before trusting you to carry a balance? I have thought about this a little while and since they keep track of your spending and payment habits, if you PIF for 5 years, the all of a sudden carry a balance for 6 months, would that not throw up a flag since it is outside your normal spending and payment habits?

As for a response to the OP, I think an easy to get prime card would also be a Citi or Chase standard platinum card...nothing fancy, no rewards. You probably won't get a limit over 1K, but no AF and they should treat you well for years, although Citi is mad at me for stupidly defaulting on a Key Bank card a few years back. I still like Citi to this day. Even when I was in default, they were nice to me.

Also, on the note of Amex, although it is recommended to have 2 years free of baddies, I got my Delta Amex and my Green card with a collection that was under a year old (stupid medical collection that I have since paid because I just forgot about it). My EX score was 645 at the time.

I don't think I would pay any attention to the Total Visa in the second post. I really hope that was an attempt at a joke.

Message Edited by heirophant on 07-04-2008 01:51 AM

Re: Easy card to get that is considered prime?

heirophant — Fri, 04 Jul 2008 09:09:51 GMT

cheddar wrote:

Watchmann wrote:
cheddar wrote:

Because of their history in the charge card business and their overall skittishness in general, it is advisable to treat any Amex credit product as a PIF-type card. Even if you have a card that allows you to carry a balance, they really hate it when you do, and have been known to get nervous and close accounts or lower limits on credit cardholders who carry a balance for more than a few months at a time.

---------------------------------

True if you have a short history with AMEX, but the longer the history the more lenient they are with you carrying a balance. I've carried balances with AMEX for six months or so with no effect on my CL (in fact they increased the CL during these periods), but that is with a 28 year credit history. The greatest asset with AMEX is TIME, so you might as well get started. Once they trust you you will have a very good relationship with them. I've probably pushed close to $1,000,000 through my three accounts with them over the years with never a missed payment. They do not worry about me carrying an $8k to $10k balance for a few months on my Optima card. Their internal risk programs and their continual softing of my approx 790 FICO score causes them no concern.

Message Edited by Watchmann on 07-03-2008 10:34 PM

My post was obviously in response to those who didn't know what a charge card was, and who therefore don't have a 28-year history with Amex.

I'm happy for you that they are so lenient with you. They obviously love you. I can't count how many times I have read that you have a 28-year history with Amex.

We get it. They love you.

Message Edited by cheddar on 07-03-2008 10:44 PM

Cheddar, its OK. He just likes to share his story. My Grampa and my Dad (both very wise men) tell the same story over and over again, too. I just listen, nod, and laugh. If it is someone's first time reading it, maybe they will get something out of it. Not everyone spends as much time as a mod on this board and not everyone reads every thread. He had the best of intentions in stating that a relationship with AMEX in which they will entrust you with such lenient terms takes a long time to build, so the sooner you start, the sooner you can build that kind of relationship with them. Maybe it seems a little like bragging, but there was a point in there.

Message Edited by heirophant on 07-04-2008 02:09 AM

Re: Easy card to get that is considered prime?

Anonymous — Fri, 04 Jul 2008 14:45:38 GMT

To Heirophat:

I don't think I would pay any attention to the Total Visa in the second post. I really hope that was an attempt at a joke.

I made the total visa comment i guess its considered sub prime hey i'm new here so give me a break i don't no all the credit card terms.

Re: Easy card to get that is considered prime?

Anonymous — Fri, 04 Jul 2008 16:23:45 GMT

Cheddar, I have to say, your post made me burst out laughing! The way your post read to me, it just reminded me of my DD's attitude/response when I've lectured her for the MILLIONTH time about strangers, candy and car rides (Okay, she IS almost 14, so maybe I don't have to drill her on it EVERY time she leaves the house! LOL!).

I think, today, I'll let her touch the front door's door knob without the lecture. Just this once.

Seriously, very, very funny!! Thanks for the giggle!!

Re: Easy card to get that is considered prime?

Anonymous — Fri, 04 Jul 2008 16:28:28 GMT

Thank you for the explanation, Cheddar!!

I've always thought "charge card" was synonymous with "store card" for some reason. I think it's cause my mama always called her Sears and JC Penny's cards "charge plates" (boy, does that take me back!!).

I gotta say ... I have learned SO much from you guys!! It's thanks to you guys and the Good Lord that we now have two new TLs (Orchard Bank and CJs)!! Hubby is only a point shy (as of the last pull I did last month) of the 600 club!! Thank you!!

{{{Hugs!!}}}

Re: Easy card to get that is considered prime?

Anonymous — Fri, 04 Jul 2008 17:31:59 GMT

Wonderin wrote:

I've always thought "charge card" was synonymous with "store card" for some reason. I think it's cause my mama always called her Sears and JC Penny's cards "charge plates" (boy, does that take me back!!).

Well, that's actually a common misconception, because store cards appear on credit reports with the notation "charge account." This is different from a "charge card," as I described above, although the similarity of the terms often leads to confusion.

Re: Easy card to get that is considered prime?

Anonymous — Fri, 04 Jul 2008 18:30:19 GMT

mjbfan79 wrote:
Total Visa

I wouldn't consider Total prime.

I think the easiest prime card to get is Discover. I got a (real) Discover More card and I had a paid collections account on my CR from about 2 years ago (no other baddies). My EQ score at the time was 660 I believe (it has since went down due to inquiries).

Re: Easy card to get that is considered prime?

msheresy — Fri, 04 Jul 2008 20:05:32 GMT

@Anonymous wrote:

@Anonymous wrote:
Total Visa

I wouldn't consider Total prime.
I think the easiest prime card to get is Discover. I got a (real) Discover More card and I had a paid collections account on my CR from about 2 years ago (no other baddies). My EQ score at the time was 660 I believe (it has since went down due to inquiries).

IMO Discover is one of the hardest.