Sub-prime CC's prevent approval for prime cards???

[adavis425]

---

@Swapmeet wrote:

---

@jamie123 wrote:

Don't do it! Yes, some lenders won't give you credit if you have sub-prime cards.

You only need 3 credit cards to maximize your credit scores. You have 3 really nice cards to start your rebuilding.

It is time to go to the garden and just manage what you have at the moment. Make sure you use all your cards gently each month and that you pay them in full, on time or early. Do not carry more than a 9% balance month to month.

You should now put your efforts toward having your baddies removed either by PFDs or GWs. Having baddies removed is the fastest way to increase your scores now. Once you have 3 credit cards adding more cards won't help and may even hurt your scores.

---

+1. Jamie is absolutely right.

---

I agree with Jamie. Even if it is just rumor as Wolf suggests, why take the chance given you already have great starting cards? I wouldn't do it.

[Anonymous]

Disagree completely. I started 5 months ago with the following lines of credit:

Victoria's Secret
Express
Brylanehome
Fingerhut
Open Sky Secured

All of those lines of credit are crap. As of today I applied for and was approved for the following cards with 5 months of subprime history:

DiscoverIT: 2500
Amex Gold Delta: 1000
Chase Freedom: 3000
Lowes: 2000
Walmart Discover: 1100

[Anonymous]

I think it is just CreditOne and First Premier that banks like Chase bark over. But I was approved for the Freedom last month and it was the 3 yr history on my Orchard Bank card that did it.

I heard if CreditOne rewards you with a $100 increase, they ask that you pay $19.95 if you want it. Yuck!

[LionLaw]

It's not just a rumor; if you've got a relationship with a lender who has his bad reputation, that can hurt you.  A friend of mine apped for an Amex green this past summer and was denied, and one of the denial reasons listed was apparently something along these lines.  I don't know what triggered it--i.e. whether it was a subprime card like FP, or if she had some other shady loans on her CR--but associating with the wrong kind of bank can be a negative in some lenders' eyes.

[tinuviel]

---

@Swapmeet wrote:

I know that I have said this a couple times in the last few days, but Amex approved me with scores in the upper 6s and a First Premiere cc with a 300 cl. YMMV.

---

Amex approved me a couple of years ago, and I had First Premier, Orchard, Cap1, Applied Bank and Emerge on my reports. Definitely a YMMV sort of thing.

[Anonymous]

---

@Anonymous wrote:
Disagree completely. I started 5 months ago with the following lines of credit:

Victoria's Secret
Express
Brylanehome
Fingerhut
Open Sky Secured

All of those lines of credit are crap. As of today I applied for and was approved for the following cards with 5 months of subprime history:

DiscoverIT: 2500
Amex Gold Delta: 1000
Chase Freedom: 3000
Lowes: 2000
Walmart Discover: 1100

---

Victoria's Secret is crap but Walmart is great.    You might need a fashion makeover.

[Anonymous]

---

@jamie123 wrote:

Don't do it! Yes, some lenders won't give you credit if you have sub-prime cards.

You only need 3 credit cards to maximize your credit scores. You have 3 really nice cards to start your rebuilding.

It is time to go to the garden and just manage what you have at the moment. Make sure you use all your cards gently each month and that you pay them in full, on time or early. Do not carry more than a 9% balance month to month.

You should now put your efforts toward having your baddies removed either by PFDs or GWs. Having baddies removed is the fastest way to increase your scores now. Once you have 3 credit cards adding more cards won't help and may even hurt your scores.

---

Thats not true.Having many accounts will contribute to credit score because every payment counts towards your credit report and score.Open as many accounts as you can handle but respect the aaa rule so it dont hurt your score.

[afbar1114]

---

@Anonymous wrote:

---

@Siobhanmairead wrote:

I am rebuilding and have been approved for a Credit One Platinum card. The fees are high but I feel it's worth it. I need a few accounts to show good history so I'll eventually have a good enough credit score for prime cards. I have read on the forums that sub-prime cards can "red flag" you with prime lenders like Chase and AMEX. Is this true? My goal is to get a Chase Freedom in about a year. What are the chances with the sub-prime card listed above?

What's in my wallet?

WalMart $250 Limit

Amazon $400 Limit

Victoria's Secret $350 Limit

Also AU on Cap 1 Secured $200 and Chase Slate $26k. 

I also have a truck loan thru Toyota Motor Corp. All accounts, even the truck loan were opened in Jan 2013. 

The AU accounts are older, the Cap 1 was opened in Sept 2012 and the Chase Slate is 19 years old.

Thank you

---

I think the sub prime CC preventing approval is mostly rumor.    I suspect it might happen in very rare cases. 

However, I don't see how Credit One card helps you enough to be worth all the fees.    For instance, Getting a Cap1 secured card of your own would be much cheaper, and better in the long run.

---

It's not a rumor happens to me twice. After I closed it i the cards cards

[JMills]

Can you please give me a list of subprime cards and prime cards? I have seven cards, 2 Capital One, 2 Orchard Bank which is now bought from capital one CFNA- A card from Firestone. One with Fingerhut. Please let me know what I should do to raise my score. I have been paying cards late, but I paid 4 off and they now have a zero balance this month.

---

Starting Score: EQ 499, TU 516, EX 501,
Current Score: EQ 499, TU 516, EX 501
Goal Score: 700 for all three (08-31-2014)

Take the myFICO Fitness Challenge

[teddybearkelli1]

I will say that subprime do keep you from getting "some" prime cards. I had 2 First Premier cards and a Credit One for over 10 years..even though I had many prime cards. I could never seem to get a Amex or Citi card. I closed all subprimes last month and approved for both of these 2 weeks later... even though I was jist Dr enoed 6 weeks ago. YMMV but I believe that is what precipirlyated my declines.