Thread: "Premium Bankcard Accounts" and their effect on credit score

I have no negative credit history. Yet my scores from 18 months ago to now have decreased 30pts or more (I think maybe because I took out a student loan in that time?). All three had the negative factor of "Not enough premium bankcards". I have seen it posted by the FTC that TransUnion describes a premium bankcard as a card over $10,000. However, when I called in Discover-- they had no clue, and Bank of America said I was elligible to upgrade to MasterCard World from my platinum plus. I've seen others post that a premium bankcard is one with an annual fee. Can someone tell me what the heck a premium bankcard is? Thanks

A "premium bankcard" is a general purpose card, such as Visa or Amex, that has a credit limit of $10,000 or more.

I believe a premium bank card is like a hsbc, citibank, capitol1, bank of america, wells fargo.

lower level cards would be like nordstrom visa, macys american express, brooks brothers mastercard, these are not premium credit cards

not true about the annual fee. the popular credit cards are the premium bankcards.

Premium Card?
No such thing as a premium card, call it what you want or color it how you want and it still get looked upon as plastic / credit line. My HSBC that is for people with fair credit is reported the same way as my American Express with an annual membership fee of 450.
Premium cards are terms that we use to classify cards design for people with perfect credit. My Lowes card by GE bank is 10K; will you classify that as premium card?
So they are willing to upgrade you to a Platinum Plus huh? Ask them if you are going to get the Platinum Extra Strength.
From what i recall the categories used to identify cards are:
Credit for Excellent or FICO 720+
Good or FICO 660 - 719
Fair or FICO 620 - 659
Bad or FICO < 620
No Credit or Limited History
If you tell me the American Exp Black card is Prem, i will agree simply because you can't even apply for it