What is the difference in prime and sub prime credit cards?

Author: cyborg
Joined: 10 May 2004
Posts: 14
Posted: Thu May 13, 2004 3:16 pm
Post subject: prime vs subprime cc

i keep reading on these boards about prime cards and subprime cards? what are the differences? is it the rates u get or is it the bank? please list some examples... thankss

View our latest credit card ratings!






Author: nativechild48
Credit Expert (100+ Posts)
Joined: 10 Nov 2003
Posts: 317
Posted: Thu May 13, 2004 11:31 pm

Prime can be both the bank and the rate. Some say platnum is the best but some sub prime banks offer platinum as well. Generally subprime are starter cards that may have an annual fee and high interest rates. Prime are really good card where your fico and other factors come into play when you obtain them. Prime cards offer many perks and no annual fee sometimes and rewards or points also low int. rates.

native

View our latest credit card ratings!





Author: marlboro
Guest
Posted: Sat May 15, 2004 2:43 am

sub prime is for those with low-no credit, high interest, high fees, and annual fees. aimed towards any credit score less than 650 will get you a nice kick in the buttocks mainly the area where your wallet resides. prime on the other hand would be MBNA, Bank One and so on. they cater to those with great creedit offer great rates and have great customer service.

View our latest credit card ratings!






Author: cyborg
Joined: 10 May 2004
Posts: 14
Posted: Sat May 15, 2004 2:49 am

u think those who review ur report weigh factors as in who issues the cards? for ex. if i have a cap1 with 9.99 CL 10000 compare to an amex 9.99 CL 10000 with same exact history and all else being same... will it matter to them? or score?

View our latest credit card ratings!