Are ALL of the Cap1 accts considered subprime? And does having subprime lenders on your reports hurt your score? Not refinance companies, etc. but subprime credit cards only?
Cap 1 is subprime and prime...great company to build or re-build with...subprime doesn't impact your score unless because of the tiny limits your ratios are horrible...
Yes...I believe if you don't get their "no hassle card" you automaticly be considered for something else...I started out with a classic $200cl now have a gold$1900cl I believe the original apr was 19.8 now 15.9...if just starting or fixing Cap1 is a good place to start...if you do a search you'll see alot of positive things about Cap 1 esp. customer service....
I received their Platinum Visa with a $500 limit, a $39 annual fee, and a 14.9% interest rate. I believe that the credit limit and annual fee are unmistakeably subprime, but that the interest rate is prime or very close to it.
RichGuy, this is exactly why I was asking. It seems like they are kind of a combo but I couln't tell for sure. I agree that some of their limits are really in subprime terratory. I do think that prime lenders look for other prime lenders on your report. Could be wrong though...
I bet your right about the limits and if a score is used then I guess no one can even see who you lenders are.
Here's another good one. Is this offer subprime? 9.9% fixed APR CL of at least $250 $124 in application fees $120 in annual fees The offer was from First Premier Bank. It just goes to show you how far they can go with charging high fees on low amounts of credit. No deceptively low interest rate, not even 0%, could possibly compensate for those outrageous fees.
YES, it's SUB PRIME... Unless your getting an AMEX card...annual fee of $120.00 is INSANE (GOLD DELTA CARD IS ONLY $85.00 FIRST USA UNITED CARD IS $60.00)
