US Bank Cash+ for third app spree?

For just about anything you want to get off your chest about credit cards.
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WilliamJefferson
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Postby WilliamJefferson » Sun Jun 22, 2014 7:38 pm

supercoolman wrote:you didn't get what you want, but you opened checking/savings account

what's the bonus you are talking about?


They give you $50 for the first transaction on the checking account. Another $50 as soon as you deposit $1000 in their savings account. Another $50 after 12 months with it in there.

Are there other cards I should get checking accounts for to get bonuses? I have:

Discover It
Chase Freedom
Fidelity Investment Rewards
American Express Blue Cash Preferred

All coming. Should I open up more checking accounts?


supercoolman
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Postby supercoolman » Sun Jun 22, 2014 7:41 pm

with CHASE, you should be able to easily find coupon on $200 bonus for opening a checking account and another $200 (or $400) bonus for a saving account. there are some string attached for the saving account which I don't remember exactly

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CarefulBuilder14
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Postby CarefulBuilder14 » Sun Jun 22, 2014 8:42 pm

WilliamJefferson wrote:My roommate thinks so you can't do a spree like this.


Maybe they want the Cash+ to be the everyday card for banking customers. If they have a lot of customers with great credit only using the card for 5% categories, that could really hurt their margins.
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

WilliamJefferson
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Postby WilliamJefferson » Mon Jun 23, 2014 2:13 am

CarefulBuilder14 wrote:Maybe they want the Cash+ to be the everyday card for banking customers. If they have a lot of customers with great credit only using the card for 5% categories, that could really hurt their margins.


Isn't the point to play the game?

They're not accepting anyone without multiple cards and a high credit rating. If they don't accept them, they're looking at a lot of people playing the game of trying to maximize rewards. If someone's just going to use one card for everything, they're just going to have one card and they're not going to worry about this utilization nonsense or about the number of accounts they have open or any such credit gaming. Doesn't seem like a smart strategy. If that's the point, they should try just targeting random high-income low-credit people. At least that's how it seems to me, but maybe someone else can comment?

MemberSince99
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Postby MemberSince99 » Mon Jun 23, 2014 5:41 am

I think a lot of people on here are obsessed with the whole playing the game thing. So they have 20 different cards trying to maximize every single penny can squeeze out of every cent they spend in rewards. I say if they can and want to handle that, more power to them. I personally don't. I just want a couple of core cards I use, set the spending on those to maximize my return and call it good. I recently had 9 credit cards and trying to even manage that many of them for me was a PITA to be honest. Utilization isn't an issue as I always PIF but having to keep track of which card reported when to stay on top of it and not use it right before the cut off date and make sure to put something on each card while babysitting it making sure there are no fraud issues just got to be more work than I want to deal with. And seriously for what, a few dollars in rewards? For all the extra time and work I'm getting paid the equivalent of a third world wage. I'd rather free up my precious (to me) free time and not "optimize" the rewards at that cost because it's a poor return on my time. If we were talking hundreds or thousands a month, it might be worth it - for a few dollars, not even close.


I think it's also a myth you need credit cards to get a score over 800. My mom has no credit cards whatsoever yet has a score over 800 (and she has no desire to have a credit card). She does however have a mortgage and I think that's what put her over the 800. My boss until recently had only one card, a Freedom, yet also has a score over 800 (and he has a mortgage as well).
So some people think to get over 800 you need a pocketful of cards or at least 2 or 3 not so. FICO tells you that you need "2 or 3" for best scoring, and I'm sure that's true, but you can still have a fantastic score with 1 card or none at all.


Me I'm done playing the game. I have 4 cards now which is one more than I want long term. I'm not planning on getting any new cards 4 is as many as I want to manage and actually more than I want to manage. For those obsessed over every single penny, more power to you if you want to deal with 25 or 30 or 50 credit cards (a couple on FICO have more than that). I'm just not one of them.

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CarefulBuilder14
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Postby CarefulBuilder14 » Mon Jun 23, 2014 10:52 am

WilliamJefferson wrote:Isn't the point to play the game?

They're not accepting anyone without multiple cards and a high credit rating. If they don't accept them, they're looking at a lot of people playing the game of trying to maximize rewards.


If a potential cardholder doesn't regularly travel by one of their branches, then they lose a lot of potential customers. I can understand them wanting to be picky about their customers, and maybe they can look more favorably on an in-person application. It just seems odd to make things difficult for people with a great credit history who don't want to go out of their way to walk into a branch.
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

takeshi
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Postby takeshi » Wed Jun 25, 2014 12:20 pm

I just received my Cash+ after calling any applying last week . There are no US Banks anywhere near here.

MemberSince99 wrote:I think a lot of people on here are obsessed with the whole playing the game thing.

Seems like it shouldn't be surprising given the nature of this site. People that aren't enthusiasts generally don't visit discussion forum sites.

MemberSince99 wrote:I think it's also a myth you need credit cards to get a score over 800. My mom has no credit cards whatsoever yet has a score over 800 (and she has no desire to have a credit card). She does however have a mortgage and I think that's what put her over the 800. My boss until recently had only one card, a Freedom, yet also has a score over 800 (and he has a mortgage as well).
So some people think to get over 800 you need a pocketful of cards or at least 2 or 3 not so. FICO tells you that you need "2 or 3" for best scoring, and I'm sure that's true, but you can still have a fantastic score with 1 card or none at all.

A lot of people on credit sites are rebuilding and are looking to do what they can to improve their scores and odds for approvals, CLI's, etc. It doesn't seem surprising to me that those that are willing to go to such lengths take the various actions to improve their credit to the best of their abilities. The lengths that one is willing to go to in order to achieve something can vary from person to person.



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