February 2015 Garden Club/Garden Cult Thread

For just about anything you want to get off your chest about credit cards.
28 posts
popamode72
Centurion Member
Centurion Member
 
Posts: 1099
Joined: Sun May 04, 2014 4:41 pm
Location: Atlanta, GA

Postby popamode72 » Fri Feb 06, 2015 10:41 pm

CarefulBuilder14 wrote:Well, that is one way to get your AAoA up. Were they cards you previously had?

If the charge card was new, it seems a waste of a signup bonus. If it was old, did you have to pay the annual fee?



Is that WF 365 Propel mostly for the signup bonus? Or you're okay with the so-so rewards and the annual fee in the future because of the nice limit?



The Venture does make the Arrival+ looks like not such a clear value. And if you ignore the DoubleCash's FTF, the DC is probably better. Still, bonuses can be very tempting.


Maybe it was just the Green he apped for.

I'm still waiting for my PRG and Hilton cards to report. Amex has never taken so long to report stuff I get approved for though I also heard that can be normal for them.
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)


Nixon
Centurion Member
Centurion Member
 
Posts: 1169
Joined: Mon Nov 03, 2014 11:12 am
Location: Great Southwest

Postby Nixon » Fri Feb 06, 2015 10:56 pm

Vattené wrote:It is amusing that the Venture would just now be the focus of the hive mind when it's been around a while and so heavily promoted. At least Capital One should be better equipped to handle a sudden surge in applications.


They've run out of plastic OHNOES!!11

It's funny. When I noticed 5 high limit approvals in one day I decided to have the wife app it and got an instapproval.
After that, It seems like half the Garden Club dove in headfirst!
Image

flan
Centurion Member
Centurion Member
 
Posts: 389
Joined: Tue Apr 09, 2013 10:16 pm
Location: chicago

Postby flan » Sat Feb 07, 2015 8:53 am

popamode72 wrote:Yup. There's always some card that gets everyone over at MF riled up and apping by the storm. Same thing with Diners Club. I think CapOne will continue to give out big limits on these cards for a while though.

It all started with someone getting a 50k limit on their Venture card. I don't think many people cared that much about the card until that happened.

http://ficoforums.myfico.com/t5/Credit-Card-Approvals/Capital-One-Denied-CLI-Approved-for-50K-on-New-Card/m-p/3776016/highlight/true#M200718


The thing that everyone forgets about capital one is that it operates like it's two companies. They have bottom of the barrel customers -- people with a history of defaults, otherwise bad credit, people with no credit at all, people even they won't give anything other than secured card to. Then they've got prime customers, who have their choice of banks to deal with. The prime customers get decent products with decent rewards, competitive credit limits (still the same crappy phone customer service, though...). I know a number of people who have prime cap1 cards, and generally satisfied with them. I find it not at all surprising that they'd give someone a 50K limit, if the customers credit and income support it.

Most of the posters on credit card forums over at myfico are firmly in the first camp, which skews what they'll say about cap1.

User avatar
Vattené
Centurion Member
Centurion Member
 
Posts: 1219
Joined: Sun Jan 26, 2014 3:55 am
Location: US

Postby Vattené » Sat Feb 07, 2015 11:46 am

Nixon wrote:They've run out of plastic OHNOES!!11

It's funny. When I noticed 5 high limit approvals in one day I decided to have the wife app it and got an instapproval.
After that, It seems like half the Garden Club dove in headfirst!


Not the gardeners, too?! Leaving the garden and abandoning all of your principles to chase some in-vogue credit card? That's a paddlin'.
-Vattené
FICO-8: EX - 827 (5/17) | TU - 824 (5/17)
My Cards: Barclay Arrival+ | Discover it | Amex ED
AU:: Discover Miles | BofA BBR | Barclay Commence (SD'd)

oldsoldier
Centurion Member
Centurion Member
 
Posts: 119
Joined: Mon Nov 17, 2014 5:34 pm
Location: TN

Postby oldsoldier » Sun Feb 08, 2015 2:00 pm

Been a tough weekend to garden, seeing all the 10k plus approvals on MF. I had to stay off my PC most of the weekend. Stay strong my fellow gardeners.
BoA Cash Rewards $13,000
Chase Sapphire Preferred $14,000
BoA Better Balance $12,000
Amex Every Day $24,000
Discover It $19,000
NFCU Cash Rewards $25,200
Barclay Arrival WMC $10,000
Cap One QuickSilver WMC $7,200
WF Cash back Visa Sig $11,000
Citi Thank You Premier $13,500

User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 4445
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Postby CarefulBuilder14 » Tue Feb 10, 2015 11:08 pm

With all this Venture talk, out of curiosity (with no intention of applying), I've got a CSP bonus to earn) I did look at a few sites for prequalified offers. My $7.5k CSP hasn't reported yet, but my 6-month old, $6k BCE I thought might have some effect. The Chase site, after all, did list the CSP as a prequalified offer. I know prequals are generally pretty meaningless, but like FAKOs, they can give you an idea of when you're moving up or down.

Would Capital One suggest a $10k Venture? Or the QS they always send mail about? Nope - QS One. 1.5% cash with a $39 AF. Or I could get the no rewards, just an AF on the second year version of Platinum.

US Bank, as before, seems to think I'm too risky for anything other than a debit card. I know they are very picky, but this does seem excessive. Maybe they wouldn't be so stringent with an actual application. Or maybe they would.

Bank of America is offering the Cash Rewards and Travel Rewards cards. The only appeal of the Cash Rewards (hypothetically moving indexed ETF investments to BofA for Platinum rewards status) is an extra 0.25% off non-Costco gas compared to Sallie Mae when neither Discover nor Freedom have it as a rotating category. So not worth the hassle. The travel card would be a straight 2.25%, no-FTF or AF card...so pretty good, but beatable by prudent UR/MR use.

Citi is offering the DC, TY Preferred, and TY Premier. There's no mention of the Diamond card, which is the one they've mailed ads about.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

User avatar
PlyrStar93
Centurion Member
Centurion Member
 
Posts: 410
Joined: Wed Jun 04, 2014 1:06 pm
Location: Chicago

Postby PlyrStar93 » Tue Feb 10, 2015 11:25 pm

CarefulBuilder14 wrote:Would Capital One suggest a $10k Venture? Or the QS they always send mail about? Nope - QS One. 1.5% cash with a $39 AF. Or I could get the no rewards, just an AF on the second year version of Platinum.

I haven't checked offers on Capital One recently, but it looks like they no longer send me any mail offers despite sending to my roommates. I did not opt out. When I checked in the past, they always gave QS1 and the 39 AF Platinum, neither of which I am interested in, not to mention the hefty interest rate.

CarefulBuilder14 wrote:US Bank, as before, seems to think I'm too risky for anything other than a debit card. I know they are very picky, but this does seem excessive. Maybe they wouldn't be so stringent with an actual application. Or maybe they would.

Bank of America is offering the Cash Rewards and Travel Rewards cards. The only appeal of the Cash Rewards (hypothetically moving indexed ETF investments to BofA for Platinum rewards status) is an extra 0.25% off non-Costco gas compared to Sallie Mae when neither Discover nor Freedom have it as a rotating category. So not worth the hassle. The travel card would be a straight 2.25%, no-FTF or AF card...so pretty good, but beatable by prudent UR/MR use.

For US Bank and BofA, I think both of them only give pre-qualified offers when the person checking online has banking relationship with them. I never see BofA and US Bank give pre-approved offers on the page, and never see a soft pull from them.

The BofA Cash Rewards card would be effectively substituted by AMEX BCE and Citi ThankYou Premier for me. BCE gives 3% on grocery while BofA gives 2%, with the same cap if maxed out. TY Premier will give 3 points/$ on travel including gas (no cap) beginning 4/19, so it's necessary to find some good values on the ThankYou Points, which may not be as easy.

CarefulBuilder14 wrote:Citi is offering the DC, TY Preferred, and TY Premier. There's no mention of the Diamond card, which is the one they've mailed ads about.

Citi used to keep sending the Diamond Preferred mail offer to me, but they no longer send those things since some time late autumn last year, even I was indeed pre-qualified online.

What is the APR Citi shows to you? Is that a very huge 22.99%, which is what my ThankYou Premier has?
Citi Forward Visa $5000 10/2012 | American Express Blue Cash Everyday $8000 2/2014 | Discover it $7000 5/2014
Chase Freedom Visa Signature $7000 6/2014 | Citi ThankYou Premier Visa Signature $5000 1/2015
All EMV.

User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 4445
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Postby CarefulBuilder14 » Tue Feb 10, 2015 11:51 pm

I have no banking relationship with either BofA or US Bank, so BofA does show offers for new customers. I can't say the same is necessarily true for US Bank.

The thing that makes BofA Cash Rewards better than BCE (purely on a rewards basis, I've said some nasty things about MLPA and Merrill Edge before and still stand by those comments) is the Platinum rewards status. It gives a 75% rewards boost - so a 3% gas category becomes 1.75*3%=5.25% (0.25% more than Sallie Mae's 5%). Although if I wanted the 30-transaction headache of EDP, I could earn a heck of a lot of MRs to make even the Sallie Mae look unexciting for gas and groceries.

I'm not as familiar with Citi TY point redemption but I think those points are usually worth a little less than URs or MRs. Getting 3 of them on a lot of my spending might be good, but I expect my current cards will be quite adequate for a while. 3 TY points per $1 might be on par with 5% cash, and a lot of my spending can meet 5% cash one way or another. So the $125 annual fee for slightly better rewards seems of little value for me.

Citi does show the 22.99% APR, yes.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card



Return to “General Credit Card Talk”

Who is online

Users browsing this forum: No registered users and 3 guests