Is Metrobank Credit card considered as prime card?

xkpa

Hi there. I am planning to apply for Metrobank Credit Card, but my credit history is new from the credit card part, I have 2 CCs since May 2014 and I am paying them in full each month.

Is it considered as prime or sub-prime credit card? I am current Metrobank current account holder, that's one of the requirements.

I will appreciate any info from current Metrobank Credit Card holders about how easy is to get this card. Thank you

Maestro.

It's middle of the road. The interest rates suggest it is higher than subprime, but not superprime. It's just your average prime card.


I don't hold one, so can't say what it's like to get one, it all depends on how they score you. Some have a sliding scale of risk and will price APR/credit limit accordingly (and generously, in some cases), whereas others may just straight decline you if you do not meet a set of requirements.

InsideInsurance

Historically, excluding fees, prime was below 20% APR, 20-25% was grey area. Above 25% is sub prime.

Super prime is slightly more complex as you start to get a lot of fee charging card which actually can mean 50%+ APRs because APR is defined as the total cost of borrowing £1,200 for 12 months and if you have a £300 annual fee your APR is going to be high even if your interest rates are low. Of cause with Super Prime the fee is in exchange for perks -v- the ultra sub prime where its a risk payment for which you simply get a card

g6jns_2

xkpa wrote: »

Hi there. I am planning to apply for Metrobank Credit Card, but my credit history is new from the credit card part, I have 2 CCs since May 2014 and I am paying them in full each month.

Is it considered as prime or sub-prime credit card? I am current Metrobank current account holder, that's one of the requirements.

I will appreciate any info from current Metrobank Credit Card holders about how easy is to get this card. Thank you

Why do you need a third card? Holding too many can be a negative factor in credit history. Paying the cards off each month is a wise move.

xkpa

I need this card, because there isn't any fees to use it abroad. If i could get it, of course that i will close my Aqua card for example. But i am thinking to give it a try, because it is applying in branch. I will be happy to have it even with lower limit and slightly higher APR.

NiftyDigits

xkpa wrote: »

I need this card, because there isn't any fees to use it abroad. If i could get it, of course that i will close my Aqua card for example. But i am thinking to give it a try, because it is applying in branch. I will be happy to have it even with lower limit and slightly higher APR.

Within the EEA.

joedenise

I opened both a current account and a credit card account at the same time. Wasn't sure whether I would get either as wasn't going to use the current account regularly, ie I would be paying in money as and when I had any spare. I also was only in receipt of ESA at the time but I opened the accounts there and then. I was actually asked what level of credit I wanted! I only took £1,000 credit limit as only wanted to use it when I go to France for holidays so that was high enough. No idea whether I would have got it if I'd asked for a higher limit though.

Not sure that really helps you but unless you try you won't know if you can get one.

Denis