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Sub Prime cards are legal and legit, although not a good idea unless an absolute emergency. These cards carry very heavy fees and offer extremely low credit lines. The fees can be as much as 25% of the cards credit limit regardless of usage amount and there is no limit on these cards' interest rate. If, after considering these facts of the cards, it is still desirable for you to consider this as an option one company who does offer Sub Prime cards is First Premier.
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Why sub-prime crisis is called as Sub-prime?
It is called "sub-rime" because the holding of sub-prime (low credit quality) debt precipitated the crisis.
What is a sub prime credit score and it is 640?
sub prime credit score refers to a credit score which is below the national average. According to a 2011 Experian study, the average score in the USA is 687. So, anything under 687 is considered sub prime.
What is a sub prime credit card?
A sub prime credit card usually has higher interest rates and a lower credit limit than a regular card, but they can be used by borrowers with a lower credit score. Most major issuers issue them, but some smaller issuers also specialize in sub prime lending.
Can anyone with bad credit get a sub prime loan?
"Generally, yes almost anyone, even those with bad credit can get a sub prime loan. Sub prime loans are designed especially for people with bad credit as a way to try to rebuild credit. The interest rates are definitely higher as would be expected, though if the loan is a secured loan the interest rate would be lower than that of an unsecured loan."
What lenders do sub prime mortgages?
Not all lenders give the oppurtunity of sub prime mortgages, but one for example that does is the Infinity Federal Credit Union (IFCU). This is one of the posibilities.
Are there any good websites with information on sub prime cedit cards?
Sub prime credit cards are cards offered to consumers with lower credit scores, typically under 660 FICO. These cards tend to have lower lines of credit, higher interest rates, and more fees than the average credit card.
What websites sell sub prime credit cards?
You can purchase a sub prime card from TD Canada Trust. Navigate to their website, fill out an application form, and then run down to the nearest branch, and pick it up. i don't think there's anyway of getting a sub prime credit card without going to a branch.
Are sub-prime merchandise cards a good way to boost your credit score without getting hit with a hard inquiry?
yes
Why sub-prime crisis is called as Sub-prime?
It is called "sub-rime" because the holding of sub-prime (low credit quality) debt precipitated the crisis.
What is a sub prime credit score and it is 640?
sub prime credit score refers to a credit score which is below the national average. According to a 2011 Experian study, the average score in the USA is 687. So, anything under 687 is considered sub prime.
What is a sub prime credit card?
A sub prime credit card usually has higher interest rates and a lower credit limit than a regular card, but they can be used by borrowers with a lower credit score. Most major issuers issue them, but some smaller issuers also specialize in sub prime lending.
Where can you learn more about sub prime credit cards online?
If you want to learn more about this certain kind of credit cards you can consult your bank using their website. Here you might talk to your economical advisor or just talk to the receptionist answering the phone.
Where can I get a sub prime credit card?
Credit cards are out for there for those with poor credit but always remember that any money used will have to be repaid at some point. Start at the moneysupermarket.com for an overview of all the options available to you together with details of any checks they are likely to make.
Can anyone with bad credit get a sub prime loan?
"Generally, yes almost anyone, even those with bad credit can get a sub prime loan. Sub prime loans are designed especially for people with bad credit as a way to try to rebuild credit. The interest rates are definitely higher as would be expected, though if the loan is a secured loan the interest rate would be lower than that of an unsecured loan."
What lenders do sub prime mortgages?
Not all lenders give the oppurtunity of sub prime mortgages, but one for example that does is the Infinity Federal Credit Union (IFCU). This is one of the posibilities.
Is a credit score of 578 good?
That score is in the "sub-prime" category. Although it is still considered a poor score, you may still be able to qualify for a home loan at a higher interest rate, an auto loan and possibly some credit cards depending on your income. Anything between 550-600 is considered sub-prime. Getting into the 600's would lower your interest rates. Here's some more info http://www.lendingtips.com/credit/fixingbadcredit/credit_score.html
What are sub primes?
Sub prime can be used in two aspects 1. Sub prime customer - A customer who does not have a great credit history and does not have the income to pay the monthly mortgage payments on the loan he is asking for 2. Sub prime Loan - A loan that is granted to a sub prime customer If you have a monthly income of $10000 and you ask for a mortgage loan with monthly payment of $4000 then you are a good customer If you have a monthly income of $4000 and you ask for a loan with monthly payment as $10000 then you would be a sub prime customer
