Subprime Can Be Divine

Subprime is marketing to the should-be 700 Club. A credit score at that level typically, but not always, gets a consumer out of the subprime caste. But it is no secret that over the past three years, the economy sucker-punched a lot of people, knocking down their credit scores. Many upper-middle-class families were left with little to nothing. Their credit scores suffered due to modified mortgages, foreclosures, bankruptcies and stock losses. Subprime is not automatically defined as a credit score below 600. I have seen 700 scores I would consider subprime, and 550 scores that received a prime-interest rate.