Shot down for 6 month CLI

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CarefulBuilder14
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Re: Shot down for 6 month CLI

Postby CarefulBuilder14 » Thu Jul 02, 2015 10:00 am

I was thinking more about store cards having crazy limits in both extremes.

A $10k CL on a store card is significantly higher than it needs to be if you're spending $200 or $300 a few times a year.

A $1,560 CL can be annoyingly restrictive if I were to spend that much all in one transaction - even if that transaction only happens once every few years.
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


kdm31091
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Re: Shot down for 6 month CLI

Postby kdm31091 » Thu Jul 02, 2015 11:29 am

oldsoldier wrote:You guys have really hit on some good points micromanaging, feeling like you entittled to a CLIs and complaining when you get denied. I am with Member on just live your life. Pay your bills and live your life to fullest. Cards enable you to enjoy life a little better and If you have to make a large purchase make it just pay it down as soon as you can.

I just think you shouldn't always be obsessed with scores because there are to many scoring models to try and figure out anyway.


And you get to a point where you generally have the cards you want, you know your score is in a good range, you make your payments, etc. At that point, what's the need to monitor your score obsessively? I have no upcoming apps planned at all, be it credit or car loan or anything. I know my scores and I know they are not likely to suddenly dramatic change. I charge and make my payments. I have the myfico monitoring but I am definitely cancelling when the year ends. It's just not worth the money.

I know monitoring your scores can be important at certain points (rebuilding, upcoming apps) but in general, once you have what you need, it's a waste of time/effort/money IMO. Nothing wrong with occasionally checking but day to day monitoring for me is overkill. Discover provides me my TU monthly for free. That's good enough.

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CarefulBuilder14
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Re: Shot down for 6 month CLI

Postby CarefulBuilder14 » Thu Jul 02, 2015 11:42 am

kdm31091 wrote:And you get to a point where you generally have the cards you want, you know your score is in a good range, you make your payments, etc. At that point, what's the need to monitor your score obsessively? I have no upcoming apps planned at all, be it credit or car loan or anything. I know my scores and I know they are not likely to suddenly dramatic change. I charge and make my payments. I have the myfico monitoring but I am definitely cancelling when the year ends. It's just not worth the money.

I know monitoring your scores can be important at certain points (rebuilding, upcoming apps) but in general, once you have what you need, it's a waste of time/effort/money IMO. Nothing wrong with occasionally checking but day to day monitoring for me is overkill. Discover provides me my TU monthly for free. That's good enough.

Once a person has a decent score, a few healthy accounts, and not too many accounts opening or closing, I agree that there's not much point in tracking the score often.

I've not gotten any of the paid credit monitoring services because the free, ad-supported ones with weekly updates are good enough, and so often issuers are slow to actually send the most recent information.
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 » Fri Jul 03, 2015 12:50 pm

I don't bother to check mine. Any changes are really irrelevant at this point. I have CreditSecure from Amex, another thing I keep around an Amex card for. But I don't really even bother to check it. The scores are FAKOs, the information I already know anyway, and if anything changes it alerts me, so there isn't much point. It's kind of like watching paint dry. It was "cool" at first but once things stabilize, not very entertaining.



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