Garden Cult Meeting - November 2014

For just about anything you want to get off your chest about credit cards.
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Xorand
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Postby Xorand » Tue Nov 04, 2014 7:21 pm

I made it through October just fine. I seriously don't need any more cards (especially if you ask my wife). Currently sitting at 58k combined credit limits and TU FICO is hovering around 780.

There's this burning sensation in the back of my mind that wants to get a "luxury" card (Barclays Black Card, AmEx Plat, etc.). However, I really would not get my money's worth out of any of the $400+ annual fee cards. Just got an email the other day with an invitation code for an AmEx Platinum. After reading around and seeing that the invite was nothing special, I decided to just delete the email.

Guess I'll hang with what I have for another month. I dug the Freedom out of a couple months of no usage. Going to see if some charges will possibly trigger an auto CLI. Would like to see it up closer to the five digit range.
AmEx - Platinum (NPSL) , Blue Cash Preferred ($19,000), Gold Delta Skymiles ($8,500)
Chase - Sapphire Preferred ($14,000), Disney ($11,500), Amazon.com ($9,000), Freedom ($8,000)
CapOne - QuickSilver ($7,250) / Platinum Rewards ($7,250)


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Xorand
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Postby Xorand » Thu Nov 06, 2014 4:03 pm

Went on a mini app spree shortly after my last post. So, I'm out of the garden this month.

Picked up a CSP with a $14k limit (highest I've gotten so far on initial acceptance). Also picked up an AmEx Platinum, just because. Not sure it will last a full year, but we'll see.
AmEx - Platinum (NPSL) , Blue Cash Preferred ($19,000), Gold Delta Skymiles ($8,500)
Chase - Sapphire Preferred ($14,000), Disney ($11,500), Amazon.com ($9,000), Freedom ($8,000)
CapOne - QuickSilver ($7,250) / Platinum Rewards ($7,250)

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Vattené
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Postby Vattené » Thu Nov 06, 2014 4:06 pm

We have an unrepentant sinner here!

Congrats on the cards, though.
-Vattené
FICO-8:
EX - 805 (2/17) | TU - 787 (2/17)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

Nixon
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Postby Nixon » Thu Nov 06, 2014 4:14 pm

Vattené wrote:We have an unrepentant sinner here!

Congrats on the cards, though.


Off with his head?
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CarefulBuilder14
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Postby CarefulBuilder14 » Thu Nov 06, 2014 5:39 pm

While I remain in the garden, I did briefly consider apping for a fairly unnecessary card today. To make the sin worse, it was a card I would have had only a slim chance of getting. I do give myself credit for examining the decision carefully and finding a better solution, but I am still guilty of wanting to leave the garden prematurely for a bad reason.

I wanted to get a new belt. I've had belts from Brooks Brothers and LL Bean, and while the BB ones look great, it's the LLB ones that are far more durable, look about as nice, and are also a lot cheaper.

But then the thought hit me - I had never seen LLB listed among the ShopRunner participants. Would I have to pay for shipping? As many of you know, I like free shipping.

And then the sinful plan entered my mind: I could get an LL Bean / Barclaycard Visa and probably get it that way!

Some of you might be wondering, "Why would CarefulBuilder14 do that? He wants an Arrival+ in a few months. Doesn't he know that Barclaycard likes to make people wait about 6 months between cards? He'll wreck his FICO (a little) and get denied for both cards when he could just pay a few dollars to get his freaking belt!"

And yes - for a few minutes I seriously considered getting the LL Bean Visa instead of staying in the garden.

But I found an old review here http://creditcardforum.com/visa-mastercard/1048-ll-bean-visa-credit-card-pros-cons-exposed.html that said LLB had ended that as a card perk and that all customers now got free shipping.

I confirmed this on the LLB website. Everyone gets free shipping there - regardless of having the right credit card or ShopRunner!

I looked more at the terms of the card - it gives 3% in coupon rewards for purchases at LLB and free monogramming. ShopDiscover gives at least a base 1% plus a 5% LLB bonus - and it probably also qualifies for the 5% online shopping rotating category instead of the 1%. So that would be 6% or even 10% in liquid rewards vs. 3% in illiquid rewards.

I guess if I wanted monogramming, or to buy more stuff in-store, then the LLB card could be good. Other than that, I don't see any appeal of it.

I'm glad LLB has their universal free shipping policy, and glad Discover gets me a little extra savings online. But I am disappointed at Barclaycard for not doing something to sweeten the appeal of what has become a nearly-useless card for prime customers.
Keeping indefinitely: IHG, SchwabPlat, CSP, Discover, Freedom, ED, BCE, Hyatt
May close or PC: Prestige, Arrival, BrooksBros
AA Platinum converting into Costco

Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech
Letting new accounts cool off since May

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Vattené
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Postby Vattené » Thu Nov 06, 2014 5:57 pm

I doubt those kinds of cards are "meant" for people with good enough credit to have prime cards. They just don't offer much to someone like you that has other options card-wise.

Perhaps they offer special discounts to cardholders, though. I get an email for such an exclusive discount for Banana Republic, Gap, or Old Navy nearly every day. That could make it worth it if you shopped there all the time.
-Vattené
FICO-8:
EX - 805 (2/17) | TU - 787 (2/17)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

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Xorand
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Postby Xorand » Thu Nov 06, 2014 5:57 pm

Nixon wrote:Off with his head?


Actually, that's probably close to what my wife will suggest.

I think I can get away with the Sapphire since it is blue and says Chase on it (she won't know it from the Freedom). Pulling out a silver-colored AmEx, though....
AmEx - Platinum (NPSL) , Blue Cash Preferred ($19,000), Gold Delta Skymiles ($8,500)
Chase - Sapphire Preferred ($14,000), Disney ($11,500), Amazon.com ($9,000), Freedom ($8,000)
CapOne - QuickSilver ($7,250) / Platinum Rewards ($7,250)

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CarefulBuilder14
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Postby CarefulBuilder14 » Thu Nov 06, 2014 6:28 pm

Vattené wrote:Perhaps they offer special discounts to cardholders, though. I get an email for such an exclusive discount for Banana Republic, Gap, or Old Navy nearly every day. That could make it worth it if you shopped there all the time.


Yes, they do mention some exclusive deals, but they aren't too specific. Something like a 20% off special could easily beat Discover - and it might apply to both in-store and online purchases.

I suppose that since there's no annual fee, and since I already use the Barclaycard site a lot for Sallie Mae, I could always get the card and then use it or the Discover as the need arose. The LLB Visa would certainly see some long periods of inactivity, but it's not like a Brooks Bros card (since I would never otherwise use the Synchrony/GECRB website).

So maybe I'll get one in late 2015. It's definitely a lower priority than Arrival+, though.
Keeping indefinitely: IHG, SchwabPlat, CSP, Discover, Freedom, ED, BCE, Hyatt
May close or PC: Prestige, Arrival, BrooksBros
AA Platinum converting into Costco

Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech
Letting new accounts cool off since May

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Vattené
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Postby Vattené » Thu Nov 06, 2014 6:51 pm

I get 30-45% off both online and in store regularly. Sometimes it is restricted to one full-priced item for one day, but it could still be useful. Of course these are completely different companies (and the BR Visa is issued by Synchrony), so that may be totally irrelevant. Just bring it up as an example and because it may be commonplace.

Not that I am trying to temp you into getting it, of course ;)
-Vattené
FICO-8:
EX - 805 (2/17) | TU - 787 (2/17)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

popamode72
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Postby popamode72 » Thu Nov 06, 2014 9:13 pm

Now I've officially made it 2 months without a single new inquiry on EX. Two more months to go and I'll be going for that backdated BCE. I can sure use it to help with my AAoA among many other things.

I've mentioned this other stuff at MyFico already but I was able to join both PenFed and DCU recently, all of those were EQ pulls and DCU even said that I was preapproved for an auto loan with them for up to 20 something thousand dollars, so if I decide to go ahead and take out an auto loan to buy a car (preferrably used), I'll definitely consider them for financing. I also got a pretty good CLI on my Amazon card today, going from 1.9K to 3.9K, nearly matching what I have with my Amex Delta card and once again, being my third highest card limit. I always love how that card has been one of those cards that's grown the most in a relatively short period of time.
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)



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