Jump to content

Please consider disabling your adblocker for CreditBoards if you have not already done so.  This site depends on advertising revenue to stay online.


Sign in to follow this  

Prime vs Subprime Lenders

The last post in this topic was posted 1803 days ago. 

 

We strongly encourage you to start a new post instead of replying to this one.

Recommended Posts

Hey folks,

 

I've searched around the forums, but haven't been able to identify a solid list of who are considered prime lenders when it comes to credit cards. Based on information gathered from the threads, I'd assume they are Bank of America, Chase and Citi. Am I missing any? Are these even correct?

 

Thanks!

Share this post


Link to post
Share on other sites

I'm no expert but i thought it was the borrower and therefore the loan that was sub prime not necessarily the lender.

Share this post


Link to post
Share on other sites

I'm no expert but i thought it was the borrower and therefore the loan that was sub prime not necessarily the lender.

 

Hmm. It very well could be that I simply don't understand the concept.

 

Any expert clarification would be greatly appreciated.

 

Thanks!

Share this post


Link to post
Share on other sites

There is no official list. It's sort of in the eye of the beholder. It can be a confusing thing because some posters use "subprime" when referring to any bank they think done them wrong. What many people are referring to with that terminology are financial institutions that focus on lending to the subprime market segment. A bank such as First Premier is what I would give as an example. The financial institutions that focus on those with less than perfect credit and tend to offer low limits and high fees. Then there are some banks that lend to the subprime market yet also lend to the prime market. CapOne is an example of a bank that made their name as a lender to the subprime market but now they also issue cards that require good scores to be approved.

Share this post


Link to post
Share on other sites

There is no official list. It's sort of in the eye of the beholder. It can be a confusing thing because some posters use "subprime" when referring to any bank they think done them wrong. What many people are referring to with that terminology are financial institutions that focus on lending to the subprime market segment. A bank such as First Premier is what I would give as an example. The financial institutions that focus on those with less than perfect credit and tend to offer low limits and high fees. Then there are some banks that lend to the subprime market yet also lend to the prime market. CapOne is an example of a bank that made their name as a lender to the subprime market but now they also issue cards that require good scores to be approved.

 

This is great information! From your perspective, who would be the banks that typically issue cards to a market with higher credit scores?

 

Thanks!

Share this post


Link to post
Share on other sites

 

There is no official list. It's sort of in the eye of the beholder. It can be a confusing thing because some posters use "subprime" when referring to any bank they think done them wrong. What many people are referring to with that terminology are financial institutions that focus on lending to the subprime market segment. A bank such as First Premier is what I would give as an example. The financial institutions that focus on those with less than perfect credit and tend to offer low limits and high fees. Then there are some banks that lend to the subprime market yet also lend to the prime market. CapOne is an example of a bank that made their name as a lender to the subprime market but now they also issue cards that require good scores to be approved.

 

This is great information! From your perspective, who would be the banks that typically issue cards to a market with higher credit scores?

 

Thanks!

 

 

Amex

BofA

Chase

Citi

US Bank

Share this post


Link to post
Share on other sites

 

 

There is no official list. It's sort of in the eye of the beholder. It can be a confusing thing because some posters use "subprime" when referring to any bank they think done them wrong. What many people are referring to with that terminology are financial institutions that focus on lending to the subprime market segment. A bank such as First Premier is what I would give as an example. The financial institutions that focus on those with less than perfect credit and tend to offer low limits and high fees. Then there are some banks that lend to the subprime market yet also lend to the prime market. CapOne is an example of a bank that made their name as a lender to the subprime market but now they also issue cards that require good scores to be approved.

 

This is great information! From your perspective, who would be the banks that typically issue cards to a market with higher credit scores?

 

Thanks!

 

 

Amex

BofA

Chase

Citi

US Bank

 

Wells Fargo

Share this post


Link to post
Share on other sites

 

 

There is no official list. It's sort of in the eye of the beholder. It can be a confusing thing because some posters use "subprime" when referring to any bank they think done them wrong. What many people are referring to with that terminology are financial institutions that focus on lending to the subprime market segment. A bank such as First Premier is what I would give as an example. The financial institutions that focus on those with less than perfect credit and tend to offer low limits and high fees. Then there are some banks that lend to the subprime market yet also lend to the prime market. CapOne is an example of a bank that made their name as a lender to the subprime market but now they also issue cards that require good scores to be approved.

This is great information! From your perspective, who would be the banks that typically issue cards to a market with higher credit scores?

 

Thanks!

Amex

BofA

Chase

Citi

US Bank

Penfed

Share this post


Link to post
Share on other sites

 

 

 

There is no official list. It's sort of in the eye of the beholder. It can be a confusing thing because some posters use "subprime" when referring to any bank they think done them wrong. What many people are referring to with that terminology are financial institutions that focus on lending to the subprime market segment. A bank such as First Premier is what I would give as an example. The financial institutions that focus on those with less than perfect credit and tend to offer low limits and high fees. Then there are some banks that lend to the subprime market yet also lend to the prime market. CapOne is an example of a bank that made their name as a lender to the subprime market but now they also issue cards that require good scores to be approved.

 

This is great information! From your perspective, who would be the banks that typically issue cards to a market with higher credit scores?

 

Thanks!

 

 

Amex

BofA

Chase

Citi

US Bank

 

Wells Fargo

 

WF does not deserve.

Share this post


Link to post
Share on other sites

 

 

Wells Fargo

 

WF does not deserve.

 

 

You're high. Wells Fargo is one of the biggest banks in the country.

 

And size of the bank is what is actually the definition of prime lenders, not how much people like their credit card offerings. It is coined to the top 50 or top 100 banks in the world.

Share this post


Link to post
Share on other sites

 

 

 

Amex

BofA

Chase

Citi

US Bank

 

Wells Fargo

 

Size of bank: (US ranking by assets 2013)

Amex---------------- # 14

BofA------------------ # 2

Chase--------------- # 1

Citi-------------------- # 3

US Bank------------ # 6

Wells Fargo-------- # 4

Share this post


Link to post
Share on other sites

 

 

 

 

Amex

BofA

Chase

Citi

US Bank

 

Wells Fargo

 

Size of bank: (US ranking by assets 2013)

Amex---------------- # 14

BofA------------------ # 2

Chase--------------- # 1

Citi-------------------- # 3

US Bank------------ # 6

Wells Fargo-------- # 4

 

 

Who's #5?

Share this post


Link to post
Share on other sites

 

 

 

 

Amex

BofA

Chase

Citi

US Bank

 

Wells Fargo

 

Size of bank: (US ranking by assets 2013)

Amex---------------- # 14

BofA------------------ # 2

Chase--------------- # 1

Citi-------------------- # 3

US Bank------------ # 6

Wells Fargo-------- # 4

 

 

Hmm. I only have 5 CCs and one LOC and they are all in that list with the exception of BofA which I won't touch due to a bad experience with them back in 1974.

 

I actually started rebuilding with secured CCs from Citi and WF which then unsecured.

Edited by cashnocredit

Share this post


Link to post
Share on other sites

marv, that is huge in the South (the old C&S) but it is nowhere north of mason dixon line...

 

no USBank in NY at least that I can find.

 

regional banks are still regional until they become chase/citi types...

 

Bank of A used to be West coast only.

Share this post


Link to post
Share on other sites

 

 

 

 

There is no official list. It's sort of in the eye of the beholder. It can be a confusing thing because some posters use "subprime" when referring to any bank they think done them wrong. What many people are referring to with that terminology are financial institutions that focus on lending to the subprime market segment. A bank such as First Premier is what I would give as an example. The financial institutions that focus on those with less than perfect credit and tend to offer low limits and high fees. Then there are some banks that lend to the subprime market yet also lend to the prime market. CapOne is an example of a bank that made their name as a lender to the subprime market but now they also issue cards that require good scores to be approved.

 

This is great information! From your perspective, who would be the banks that typically issue cards to a market with higher credit scores?

 

Thanks!

 

 

Amex

BofA

Chase

Citi

US Bank

 

Wells Fargo

 

WF does not deserve.

 

Barclay

(discover)

Share this post


Link to post
Share on other sites

 

 

 

 

 

There is no official list. It's sort of in the eye of the beholder. It can be a confusing thing because some posters use "subprime" when referring to any bank they think done them wrong. What many people are referring to with that terminology are financial institutions that focus on lending to the subprime market segment. A bank such as First Premier is what I would give as an example. The financial institutions that focus on those with less than perfect credit and tend to offer low limits and high fees. Then there are some banks that lend to the subprime market yet also lend to the prime market. CapOne is an example of a bank that made their name as a lender to the subprime market but now they also issue cards that require good scores to be approved.

 

This is great information! From your perspective, who would be the banks that typically issue cards to a market with higher credit scores?

 

Thanks!

 

 

Amex

BofA

Chase

Citi

US Bank

 

Wells Fargo

 

WF does not deserve.

 

Barclay

Discover

 

FTFY

Share this post


Link to post
Share on other sites

The last post in this topic was posted 1803 days ago. 

 

We strongly encourage you to start a new post instead of replying to this one.

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  




  • Member Statistics

    • Total Members
      179,661
    • Most Online
      2,046

    Newest Member
    Tommy2727
    Joined

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×
×
  • Create New...

Important Information

Guidelines