@Anonymous wrote:
What are the best prime cards one can expect to get with very low income, I am on disability and i just trying to figure out if i could ever qualify for some of the best prime cards out there if i brought my score up high enough even though my income is low. Would really like a blue cash preferred card from american express.
Prime isn't relevant to cards it is relevant to consumers despite how it tends to be misused. Even with the way people tend to use it "prime" is fairly meaningless since it is so subjective. Don't use "prime" as a crtierion. Sort out your needs/wants and use that to select cards that suit you.
Income is a consideration but it's just part of the equation. Your credit profile is the other important part. We can't tell you what you'd qualify for. We can't provide feedback on what might be best suited to you if you don't clarify exactly what you need/want. "Best" is always high subjective regardless of topic so be specific and don't just assume that "best" means the same thing for everyone.
If you're looking for rewards on spend then look at where the majority of your spend is going and find cards that maximize rewards on that spend. Do you have sufficent grocery and other catagory spend to benefit from the Blue Cash Preferred? Make sure you running the numbers for your spend and accounting for the annual fee.
@Anonymous wrote:
i apologize for the limited information, i was just looking for information in general. Is it possbile to get approved for prime cards when your income is low, assuming you have no other major problems with your credit report and your credit score i good. My main interest is amex blue preferred for the 6% rewards at supermarkets and the hilton honours amex.
Still too vague and even with more details we really couldn't answer yuor question with certainty.
As stated above, income is just one consideration and credit profile definitely matters. What are you considering a "good" score? Give us number and let us know which specific scoring model(s) generated the score(s). It's never just about score but you can refer to the Credit Pulls Database. Use Google to find it as it is not on the myFICO site.
Not haaving "major problems" helps but age and thickness of a credit profile matter as well. One can have a clean file yet get denied for having a relatively new credit profile and/or a profile with little to no accounts (a thin profile). If you want use to try to assess your credit profile you need to give us a better idea of what it is like. While scores can help we really need to know how many credit accounts, what types of credit accounts, revolving utilization, average age of accounts, any recent credit seeking activity, etc. Even then we are only providing a best guess. We do not know the specifics of any creditor/product's underwriting requirements.
tl;dr -- It's possible to get approved. It's also possible to get denied. We would need to know a lot more details to even begin to guess.
@Anonymous wrote:
As of right now i know i still have some work to do, still have a couple of baddies on my report and my scores are only in the low 600's. I just want to make sure my income wont be a limiting factor even if i was able to repair all my other issues on my report.
Income is going to be more of a limiting factor with regard to limit. That is, unless your income is too far under the minimum required for a given product. There's really no way for you to make sure. You're going to have to work on your issues, apply and see what happens. We can't guarantee anything.
