Shot down for 6 month CLI

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Vermonster
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Re: Shot down for 6 month CLI

Postby Vermonster » Mon Jun 29, 2015 11:56 am

I'm not a fan of the buypower because of how restricted you are to a brand of car that can be completely hit or miss. But I do see the appeal in a blanket 5% return. Putting some of the regular, not category charges like cellphone and internet through it can easily hit that $5k cap. But as you said after 4 years you have $1k, which can feel like a drop in the bucket. I wonder if they would let you put rewards towards a monthly payment. That could be nice over a 5-6 year loan. Or just keep the card for 40 years and buy half a car :money:
Chase Freedom $9k~~Chase Sapphire Preferred $6.5k~~Amex Blue Cash Preferred $12.4k~~Citi Double Cash $4.7k


Nixon
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Re: Shot down for 6 month CLI

Postby Nixon » Mon Jun 29, 2015 12:34 pm

Vermonster wrote:I'm not a fan of the buypower because of how restricted you are to a brand of car that can be completely hit or miss. But I do see the appeal in a blanket 5% return. Putting some of the regular, not category charges like cellphone and internet through it can easily hit that $5k cap. But as you said after 4 years you have $1k, which can feel like a drop in the bucket. I wonder if they would let you put rewards towards a monthly payment. That could be nice over a 5-6 year loan. Or just keep the card for 40 years and buy half a car :money:


Pretty much this.

If you could at least use the rewards for service appointments itd be different.
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MemberSince99
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Re: Shot down for 6 month CLI

Postby MemberSince99 » Mon Jun 29, 2015 5:55 pm

You can't put it directly to the monthly payment. For one thing, you might finance elsewhere and those points would be worthless to say your local CU.

But if you think about it, by using those points on the purchase, you kind of ARE putting it on your monthly payments - just ahead of time and they will be lowered. So it's kind of the same thing really.

MemberSince99
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Re: Shot down for 6 month CLI

Postby MemberSince99 » Tue Jun 30, 2015 6:17 pm

Got the denial letter today. Only reason listed - too many inquiries. Score listed - 774.

I had said in the past that Amex had never denied me for too many inquiries, but I stand corrected.

kdm31091
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Re: Shot down for 6 month CLI

Postby kdm31091 » Tue Jun 30, 2015 8:06 pm

MemberSince99 wrote:
And for anyone who thinks they were "rage closes" they weren't. Not at all. More like I'm just happy to be moving on and making my life easier to manage. How many cards does anyone REALLY need? I guess I'm finding my need level is about 5 right now - the other 3 are subject to get the axe. Chase after my experience with them would be the first to go, I don't care if the limit is double that. I can't begin to use even 23.5k anyway. About the ONLY good that would do me is it would let me put everything on one card and pay once a month when the statement cuts.


Member, I have seen you say something to this effect on several threads --- have you actually closed any cards yet? It sounds like you really want to pare down. What's stopping you? (and btw, I agree with your points)

Nixon
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Re: Shot down for 6 month CLI

Postby Nixon » Tue Jun 30, 2015 8:31 pm

kdm31091 wrote:
MemberSince99 wrote:
And for anyone who thinks they were "rage closes" they weren't. Not at all. More like I'm just happy to be moving on and making my life easier to manage. How many cards does anyone REALLY need? I guess I'm finding my need level is about 5 right now - the other 3 are subject to get the axe. Chase after my experience with them would be the first to go, I don't care if the limit is double that. I can't begin to use even 23.5k anyway. About the ONLY good that would do me is it would let me put everything on one card and pay once a month when the statement cuts.


Member, I have seen you say something to this effect on several threads --- have you actually closed any cards yet? It sounds like you really want to pare down. What's stopping you? (and btw, I agree with your points)


He pulled a kdm31091 and closed several cards, including a Chase card. ;)
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kdm31091
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Re: Shot down for 6 month CLI

Postby kdm31091 » Tue Jun 30, 2015 9:03 pm

Nixon wrote:
kdm31091 wrote:
MemberSince99 wrote:
And for anyone who thinks they were "rage closes" they weren't. Not at all. More like I'm just happy to be moving on and making my life easier to manage. How many cards does anyone REALLY need? I guess I'm finding my need level is about 5 right now - the other 3 are subject to get the axe. Chase after my experience with them would be the first to go, I don't care if the limit is double that. I can't begin to use even 23.5k anyway. About the ONLY good that would do me is it would let me put everything on one card and pay once a month when the statement cuts.


Member, I have seen you say something to this effect on several threads --- have you actually closed any cards yet? It sounds like you really want to pare down. What's stopping you? (and btw, I agree with your points)


He pulled a kdm31091 and closed several cards, including a Chase card. ;)


Hahah, yes, we all know I dislike Chase!

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CarefulBuilder14
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Re: Shot down for 6 month CLI

Postby CarefulBuilder14 » Tue Jun 30, 2015 9:33 pm

He's closed quite a few - no doubt about that. Not just Amazon from Chase, but Freedom and CSP, too. All three closed this month. Check the June Garden thread.

Heck, I wish I had an 11.5k Freedom! Mine's only at $4k*, and I plan to keep CSP and IHG. Maybe I'll eventually open another Chase travel card for the first-year bonus, and later move the limit over - if Chase will still allow that in 2016.

*$4k up from a $600 SL, the result of a $1.4k CLI and $2k partial limit transfer from CSP.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

MemberSince99
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Re: Shot down for 6 month CLI

Postby MemberSince99 » Wed Jul 01, 2015 6:15 am

Yep many closures. Not a rage close among them. I went from 14 cards to 6. I'd like to close 2 more but I can't find it in me to do it yet. And then there is the issue of which two.

The PRG I keep just because it's the same as a AAA card to me and it's not much more than the Gold. The roadside assistance plans differ on the two so if you have even one call a year for a flat or something it pays for itself.

The DC I keep because it's the DC. The TY Premier is going to be my travel card. Buypower for the 5% towards a vehicle (WEMC with no annual fee doesn't hurt either). Home Depot as a homeowner I can always use for the 0% promos. And Discover, despite the fantastic rewards and all US customer service I think I'm liking the least (just above Amex, though I'm not closing Amex, simply due to it being my AAA). They have become skinflints on CLIs again (in other words good luck ever getting one) and they are paring down the perks and their reputation for standing behind crooks instead of their customers doesn't bode well with me. If I HAD to close one more card it would be Discover. I don't have to however and that's not in the plans for now. For now, the plan is just to keep what I have and see how it goes.

kdm31091
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Re: Shot down for 6 month CLI

Postby kdm31091 » Wed Jul 01, 2015 11:58 am

MemberSince99 wrote:Yep many closures. Not a rage close among them. I went from 14 cards to 6. I'd like to close 2 more but I can't find it in me to do it yet. And then there is the issue of which two.

The PRG I keep just because it's the same as a AAA card to me and it's not much more than the Gold. The roadside assistance plans differ on the two so if you have even one call a year for a flat or something it pays for itself.

The DC I keep because it's the DC. The TY Premier is going to be my travel card. Buypower for the 5% towards a vehicle (WEMC with no annual fee doesn't hurt either). Home Depot as a homeowner I can always use for the 0% promos. And Discover, despite the fantastic rewards and all US customer service I think I'm liking the least (just above Amex, though I'm not closing Amex, simply due to it being my AAA). They have become skinflints on CLIs again (in other words good luck ever getting one) and they are paring down the perks and their reputation for standing behind crooks instead of their customers doesn't bode well with me. If I HAD to close one more card it would be Discover. I don't have to however and that's not in the plans for now. For now, the plan is just to keep what I have and see how it goes.


I think it's a bit unreasonable to say Discover is never going to give CLIs just because the brief "16 day" fad is over. My Discover grew fine well before the fad.

Anyway, I'm glad you pared down to a more reasonable amount of cards!



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