a few questions.

[Anonymous]

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@Anonymous wrote:

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@birjest wrote:

Well, I have a questions?  Why does it matter if you have a sub-prime/prime card?  I figure, if you have a company that is willing to extend you credit, why care if it is sub or not?  just saying...

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One of the reasons for Amex denying a Zync recently at the terms requested:

"Our analysis of the credit risk associated with customers who have accounts with the creditor(s) indicated in your credit report. (Experian)"

Like the others, I'm not criticising the sub prime cards and will always be grateful to Cap1 for extending me credit when no-one else would, but I have to take the above into mind.

Mike

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Another reason is that I am self employed. Again, no disrespect to those who have Orchard / First Premier / Household Bank / etc (I'm in the same boat), but I can't be paying major suppliers with one of these cards if I want to build up a decent standing with them. At least the Cap 1 is ambiguous and doesn't scream out "sub prime". All very wrong, I know, but if I pay a supplier with one of the above cards they will start wondering if they should continue my credit terms.

Added to this, I have seen a car rental agency do a hard pull on someone paying with Orchard as if they were using a debit card.

Mike

[birjest]

Bigfoot, all this make perfect sense to me.  As a self-employer, I can see how important it is for you to have a prime card.  As for me, I been using debit card for the last 3 year, (following Dave Ramsey ideology).  I bought plane tickets, rented cards, pay bill all with my debit card.  Well, after coming to myfico and learning how others were using credit cards responsibly for their every day purchase and taking advantage of the cards reward program, I took a bite of the plunge.

I am a naval officer and will soon to be retired.  I want to establish my own business and want to explore other cards that would benefit me for travel and business(don't know what it will be).  But it all make sense about the sub-prime and prime cards.  Question though..what would the AMEX Black card be consider....super-prime?