Does having a prestige and prime card help your credit profile look better to underwriters?

[Credit_hawk]

---

@Loquat wrote:

Amex cards really aren't all that hard to get anymore are they?  Don't know why it would be given any more "weight" than any other card?  I would think that the overall credit profile would be the determining factor.  

---

They're not hard to get at all. Some still live in the '80s.

[Themanwhocan]

---

@Dcyphrz wrote:

---

@Anonymous wrote:
 ...Bert N Ernie Visa with a 20k CL...

---

That would be the funniest thing ever!  I'd make them have their picture taken holding up the card or I wouldn't approve them. 

---

Well, Bert N Ernie DID have a song hit number 16 on Billboard's "Hot 100 Singles" chart. Chase can't say that. The song almost won a Grammy, but lost out to a book & Record deal that included the same song (so I guess technically they won a Grammy as well).

[Credit_hawk]

---

@bz386 wrote:
How would a bank know that you have a "premium" card? All they ser on your credit report is how many accounts you have with each lender, not what specific cards you have.

---

Exactly!! They can't see your specific cards. They don't have any more insight than you do into your own report. 

[Anonymous]

---

@Credit_hawk wrote:

---

@bz386 wrote:
How would a bank know that you have a "premium" card? All they ser on your credit report is how many accounts you have with each lender, not what specific cards you have.

---

Exactly!! They can't see your specific cards. They don't have any more insight than you do into your own report. 

---

+1

So true so your Bert n Ernie card could change to a Elmo n Grover....

one the report it's just a freaking

Sesame Street Visa card with X limit and Y age with Z payment history.

[driftless]

Prime will have higher CL's. Starter and sub-prime cards will have low CL's. So yes, they can tell a lot about your card, just by your CL which goes into their underwriting. .

[elim]

---

@bz386 wrote:
How would a bank know that you have a "premium" card? All they ser on your credit report is how many accounts you have with each lender, not what specific cards you have.

---

  Flex Spend may make a slight difference

[jamesdwi]

---

@Anonymous wrote:

 I agree with the person who said credit limits, I can see high  Credif Limits being more of a factor than having a prime lender name on the report . But what do you guys think about a charge card with no CL? How is that looked upon then?

---

Length of time with the card, and Highbalance and lack of negs associated with the account. If the user has a long history with a charge card,  no lates or other negs, its viewed favorably. If the underwriter wants to look at profitability to company they can look at High Balance of the card but is no guarantee.

[Anonymous]

---

@driftless wrote:
Prime will have higher CL's. Starter and sub-prime cards will have low CL's. So yes, they can tell a lot about your card, just by your CL which goes into their underwriting. .

---

Sorry...that's off topic and yes CL 'may' indicate a 'lot' but you could be 100% off base

I personally have had clients that would absolutely be PRIME but were AFRAID of higher CL

some due to being from the different era others due to how they were raised only wanted CL's based upon what THEY felt etc...

And banks don't FORCE folks who 'could' have a 20k CL to carry such a card if M/M Smith from Fresno say they only want a $1k

(feeling the rest is NOT something they want)

So YES if one wants to CHEAT their way into knowing-it-all based upon CL one can IMAGINE whatever they like but there are NO absolutes, period.

I've seen clients PRIME enough to finance a ball team only WANT a CL they felt was enough for their everyday needs...not everybody is score chasing, friend.

But even using your point the BRAND NAME of the card is what was in question not the CL in the 1st place, so you're driving the wrong car anyway.

Because again using your thought pattern (which is true in other situations just not this one) a 20k CL from Bank A  'looks' just as 'prime' has a 20k CL from CU 'B'...either it's been maintained and paid or not ...the CL and payment history are going to be what counts NOT the NAME of the bank or even the NAME of the card (cards names are for marketing purposes....no different than the NAME of a hamburger from one burger joint to another.....push comes to shove it's a BURGER, bro

Double, triple patties, cheese or whatever THEY CALLIT..it's a hamburger

[driftless]

---

@Anonymous wrote:

---

@driftless wrote:
Prime will have higher CL's. Starter and sub-prime cards will have low CL's. So yes, they can tell a lot about your card, just by your CL which goes into their underwriting. .

---

Sorry...that's off topic and yes CL 'may' indicate a 'lot' but you could be 100% off base

I personally have had clients that would absolutely be PRIME but were AFRAID of higher CL

some due to being from the different era others due to how they were raised only wanted CL's based upon what THEY felt etc...

And banks don't FORCE folks who 'could' have a 20k CL to carry such a card if M/M Smith from Fresno say they only want a $1k

(feeling the rest is NOT something they want)

So YES if one wants to CHEAT their way into knowing-it-all based upon CL one can IMAGINE whatever they like but there are NO absolutes, period.

I've seen clients PRIME enough to finance a ball team only WANT a CL they felt was enough for their everyday needs...not everybody is score chasing, friend.

But even using your point the BRAND NAME of the card is what was in question not the CL in the 1st place, so you're driving the wrong car anyway.

Because again using your thought pattern (which is true in other situations just not this one) a 20k CL from Bank A  'looks' just as 'prime' has a 20k CL from CU 'B'...either it's been maintained and paid or not ...the CL and payment history are going to be what counts NOT the NAME of the bank or even the NAME of the card (cards names are for marketing purposes....no different than the NAME of a hamburger from one burger joint to another.....push comes to shove it's a BURGER, bro

Double, triple patties, cheese or whatever THEY CALLIT..it's a hamburger

---

Wow.

[Anonymous]

When it comes right down to it, carry as much or as little as you choose.  I'm becoming happier with just 2 cards thanks to my situation.  I don't do a lot of excessive spending, and would just put every day expenses on my credit cards, which I could pay every month.  Right now the plan is dropping the 2 Synch cards and just going with Freedom and IT, and maybe a CSP down the road to go with Freedom.  As it happens the ones I'm keeping ARE prime cards with prime lenders (read: Not credit one, comenity or Synchrony).

My level of spending doesn't suit having more than 2 or 3 cards at a time.  I pay bills with my bank account, carry cash for emergencies and smaller spending (vending machines, parking meters, etc) and put only groceries, gas and restaurant spending on one card, with very limited daily spending on another for the purposes of keeping it open for any emergencies that might come up.  

What card I use as my main one rotates on a periodic basis (monthly, or bi-monthly depending on needs), that insures that there is enough activity to keep both open and active.  

I don't see use for any more than that. And since I already have 40+ accounts on my credit reports, I won't have to worry about applying for any more cards to keep those numbers up, I can simply apply if I want to, hence the interest in CSP. 

But again, YMMV.