Who do you consider a prime lender?

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lexrj
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Who do you consider a prime lender?

Postby lexrj » Wed Aug 21, 2013 11:33 pm

me:

amex
chase
citi

Not sure about Barclays, what do you guys think?

Not prime:
cap one
discovery
and everything else....
---------------------------------------
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TheLethargicAge
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Postby TheLethargicAge » Thu Aug 22, 2013 10:44 am

Definitely prime:
American Express
Chase

Debatable:
BofA
Citi
Discover
U.S. Bank

Sub-prime with some prime offerings:
Capital One

Not sure what to think of Barclaycard either
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Snowman
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Postby Snowman » Thu Aug 22, 2013 10:53 am

I personally consider:

Chase- Has many of the prime cards on the market
Amex- Very much prime, and they've also got good products.


Maybe-Debateable:

Citi- Most of their products are meh, the real good ones are the Forward, the American Airline cards and the Hilton card. Everything else is meh.

BOFA- A few cards are good, most of them are people looking for starting their credit.

Discover- They have good cards, but tightly controlled CLI's.
Bank Of America: BankAmeriCard Cash Rewards-4.2k
Citi: Forward-4.5k American Airlines Advantage Platinum Select World Elite MasterCard 9/6/15-4K
Discover: More-7k
Amex BCE.2k- Amex SPG-5k
Chase: Freedom-5kSouthwest Rapid Rewards Plus- 3.6k
Capital one: Venture one-10,000, Visa Signature.

Daniel
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Postby Daniel » Thu Aug 22, 2013 11:39 am

Here is my take. I guess one could break prime out into prime and Prime+

Prime:
Amex
Citi
Discover
Barclays
BoA
A few other smaller Lenders
Chase

Sub-Prime
CapOne
Credit One
A few others

Deep Sub-Prime:
First Premier
First Progress
Continental Finance
A few others

Outside of the generic comparison, some of the lenders have offers that approve consumers in multiple segments. Like Cap One has their Prime targeted visa signature offers, and Barclays has offer that target users who are slightly below prime. Even Discover will underwrite consumers who are slightly below prime, I think this market is called "aspiring prime."

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djrez4
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Postby djrez4 » Thu Aug 22, 2013 11:46 am

Daniel wrote:Here is my take. I guess one could break prime out into prime and Prime+

Prime:
Amex
Citi
Discover
Barclays
BoA
A few other smaller Lenders
Chase

Sub-Prime
CapOne
Credit One
A few others

Deep Sub-Prime:
First Premier
First Progress
Continental Finance
A few others


I'm more of this opinion. I don't think Citi or BoA are subprime, despite having what I consider to be crappy offerings. Toss HSBC on the prime list as well.

Cap One is debatable. They certainly have some sub-prime products. Call them schizo-prime-ic?
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JSS3
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Postby JSS3 » Thu Aug 22, 2013 2:40 pm

Sub-Prime:
Cap1, BOA, First Premier, First Progress

Prime:
Amex, Chase, Discover, Citi
(1/13) Fingerhut - $1,100
(2/13) Capital One Quicksilver- $3,500
(3/13) Capital One Quicksilver One- $750 ($19 AF)
(8/13) Discover IT- $2,000
(8/13) Citi Dividend- $1,200
(8/13) Chase Slate- $2,500
(9/13) Chase Amazon Visa Sig - $4,000
(9/13) Victoria Secret- $750
(9/13) Paypal Extras Mastercard- $3,000
(9/13)] MyPoints Visa- $1,500
(10/13)Walmart Discover- 3,000

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Postby FargoCC » Sat Aug 24, 2013 9:13 pm

Sub-Prime:
First Premier, First Progress and Credit One

Quasi-Prime:
Cap1 and BOA

Prime:
Amex, Chase, Discover, Citi and Barclays

thom02099
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Postby thom02099 » Sun Aug 25, 2013 10:00 am

Daniel wrote:Here is my take. I guess one could break prime out into prime and Prime+

Prime:
Amex
Citi
Discover
Barclays
BoA
A few other smaller Lenders
Chase

Sub-Prime
CapOne
Credit One
A few others

Deep Sub-Prime:
First Premier
First Progress
Continental Finance
A few others

Outside of the generic comparison, some of the lenders have offers that approve consumers in multiple segments. Like Cap One has their Prime targeted visa signature offers, and Barclays has offer that target users who are slightly below prime. Even Discover will underwrite consumers who are slightly below prime, I think this market is called "aspiring prime."


+1, particularly on your Primes!

For the "regionals" I'd add IberiaBank, First National of Omaha, and Simmons First as among the top tier prime regional banks. Their underwriting can be more difficult and scores generally need to be mid-700s to be considered.
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flan
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Postby flan » Sun Aug 25, 2013 1:15 pm

Snowman wrote:
Citi- Most of their products are meh, the real good ones are the Forward, the American Airline cards and the Hilton card. Everything else is meh..


Prime or not prime is about the quality of the borrower who gets the card, not necessarily about what you think of the offer.

The other thing is that most lenders participate in a range of markets. Cap One offers cards in the sub-sub-prime, sub-prime, prime, and super-prime markets. That's two very different classes of customers, and they have different products for it. Chase offers some of its cards targeted into the prime and sub prime market. (Really, a card that comes with a range of interest rates from 12 to 23% is for more than one group....)

There are some differences between lenders. Capital one doesn't think people ever move from one bracket to another, while other lenders will change the terms when the customer's credit improves.

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Postby SClay » Sun Aug 25, 2013 3:41 pm

Prime:
First Premier
Credit One

Lol jk.

Prime:
American Express
Chase
Barclays

Sub - Prime:
Capital One
Discover
Capital One Secured AU | $1851 | 10/2013
Capital One Journey | $1000 | 03/03/2016
American Express Delta Gold | Denied | 03/13/2016
Citi Bank Double Cash | $1000 | 03/13/2016
Chase Amazon Visa | Pending | 03/13/2016



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