Expanding my CC issuers

For just about anything you want to get off your chest about credit cards.
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popamode72
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Postby popamode72 » Wed Oct 22, 2014 6:33 pm

I'm a person that really likes having relationships with different lenders. Besides Amex, Discover, Chase, I think Barclays and BoA are also good options to look at.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)


credit-utopia
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Postby credit-utopia » Wed Oct 22, 2014 10:53 pm

PlyrStar93 wrote:You can simply
  • call the customer service number and get to a rep and ask for a product change to the card you want;
  • or, send a secured message to request the change
Choosing either one should get the job done, and if one doesn't work then you can use the other as backup method.

Not all products may be changed to, and it can be YMMV. Someone else here has just changed Diamond Preferred to ThankYou Preferred very recently. Since you already have TY Preferred, you may change DP to Double Cash. It can earn you 2% plain cash back, which sounds like a good deal, so good luck out there.


Thank you so much!! I had no idea this could be done. I called up customer service and within a matter of 5 minutes my Diamond Preferred was converted to a Double Cash card. I love this forum!

As an FYI they said my account number would stay the same, and the Diamond Preferred graphic has already switched to a Double Cash graphic in my online account. Excellent!

credit-utopia
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Postby credit-utopia » Wed Nov 05, 2014 3:23 pm

Update

I closed out four store credit cards, but with the recent CLIs and new TLs I've opened, my utilization will be almost identical. I have opened the Huntington Voice card and went ahead and got a Wells Fargo card too since they have my mortgage, and offered the CC on an unrelated call.

I hope Amex doesn't flip out...but it wouldn't be the end of the world it they tried an FR or just closed it all together. I don't need lenders that "big brother" me.

Nixon
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Postby Nixon » Wed Nov 05, 2014 3:52 pm

credit-utopia wrote:
I hope Amex doesn't flip out...but it wouldn't be the end of the world it they tried an FR or just closed it all together. I don't need lenders that "big brother" me.


I'd be more worried about Barclay's freaking out. AMEX at least gives you a chance to prove you are worth their time.
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credit-utopia
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Postby credit-utopia » Wed Nov 05, 2014 4:02 pm

Nixon wrote:I'd be more worried about Barclay's freaking out.


Honestly I wouldn't mind if they did. I originally app'd for it back in early 2013 when I was driving 50,000+ miles/yr for work. The 5% cash back on gas on top of the "profit" on reimbursement from work was nice. Now it's sock drawered most of the time.

Nixon
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Postby Nixon » Wed Nov 05, 2014 4:29 pm

credit-utopia wrote:Honestly I wouldn't mind if they did. I originally app'd for it back in early 2013 when I was driving 50,000+ miles/yr for work. The 5% cash back on gas on top of the "profit" on reimbursement from work was nice. Now it's sock drawered most of the time.


Even for groceries?
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credit-utopia
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Postby credit-utopia » Wed Nov 05, 2014 4:44 pm

I tried the grocery thing, but I buy my groceries at Walmart, and they never coded the transaction as groceries so I didn't get the points. I actually ran into a few gas stations that didn't code as gas so I didn't get points for those transactions either.

Nixon
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Postby Nixon » Wed Nov 05, 2014 4:46 pm

credit-utopia wrote:I tried the grocery thing, but I buy my groceries at Walmart, and they never coded the transaction as groceries so I didn't get the points. I actually ran into a few gas stations that didn't code as gas so I didn't get points for those transactions either.


Darn. I'm gonna have to see if my Neighborhood Market Walmart codes as Groceries. I'm trying to devise a way to get 5% out of Sam's purchases and figured if I buy WM GC's and use at Sam's it'll work.
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takeshi
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Postby takeshi » Thu Nov 06, 2014 7:54 am

credit-utopia wrote:Does it look better to future lenders when you have more cards from different issuers, or does it even matter?

It may "look better" but it won't have any impact on your scoring. How it can help with scoring is if you're finding that you're hitting your internal limit with a given creditor as you can obtain credit from other creditors and reduce utilization.

credit-utopia wrote:I will probably close one every few months so my credit doesn't take a big hit and scare off my current creditors.

Any hit would be due to changes to your utilization and you can calculate your utilization before and after to see the difference. If your store cards have low limits then they may not have much impact.

credit-utopia wrote:I hope Amex doesn't flip out...

I doubt it. Closing accounts isn't anywhere near the risk of opening accounts.



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