Prime Cards

[CreditScholar]

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@webhopper wrote:

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@CreditScholar wrote:

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@Razeus wrote:

The service offered.

Sure Zync may not be the cream of the crop and some may say it's given to people with lessor credit scores.  But name a sub-prime credit card company that gives NPSL's and AMEX service and rewards points?  

That's what I thought.

AMEX is prime, offering products of the same caliber to less than prime.

Capital One is a sub prime company posing as a prime lender.

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If you have high enough CLs, you typically don't need NPSL. People like NPSL because they cant grow their CLs fast enough through normal mechanisms.

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I whole heartedly disagree with this statement.  Frequent business travelers like the flexibility of a charge card with NPSL because it allows them to PIF without worrying about grace periods like with other cards.  Also, travel can vary from month to month... One month you might fly and your ticket is 1200 round trip.  Other times, its only 200 round trip.  Also, utilization isn't factored into FICO when you charge business travel with a charge card. So you won't be messing up your revolving utilization, So ya, I would definately reconsider that statement.

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No, my statement still stands. This was in response to someone talking about the Amex Zync, which is a personal card not used for business. Any serious business traveller worth anything wont be using a personal Zync to fund business-related travel. Also if you're using a true business card, it won't show up on your CRs. If you apply as a sole proprietor then yes your CR will take the initial hit from a HP, but that's as far as it goes. All of the road warriors I know carry an Amex Plat or similar card (AA executive WEMC, Delta Reserve, United MP Club, etc). In business if I saw someone using a Zync for business purposes I'd laugh quietly and not do business with them. They'd need to make a better impression than that.

[CreditScholar]

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@Anonymous wrote:

I don't really think NPSL is a huge deal; it has its advantages and disadvantages.  It's nice that Amex charge cards don't affect utilization and internal limits can get high pretty quickly, but you never really know how much you can spend.  Even if you have a high internal limit now, if you don't use that card much for a few months, it will go back down.  You can find yourself getting denied for a large purchase.  If you have a set limit, you always know how much you can charge.

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There is value in NPSL for huge spikes in spending throughout the year, and also for new companies who are trying to grow their CLs more quickly than normal. However once a business is firmly established it becomes less of an issue as they can secure other forms of credit more easily.