May 2015 Garden Cult thread please join us

For just about anything you want to get off your chest about credit cards.
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Nixon
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Re: May 2015 Garden Cult thread please join us

Postby Nixon » Thu Apr 30, 2015 11:33 pm

TheLethargicAge wrote:Never mind travelling...how about working? You post at all hours of the day.


I do that too. The nature of my job allows me to post when I'm not busy/working on a report/in meetings.
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Vattené
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Re: May 2015 Garden Cult thread please join us

Postby Vattené » Thu Apr 30, 2015 11:52 pm

CarefulBuilder14 wrote:
Vattené wrote:Put a dunce cap on me and sit me in the corner because I'm not making it through May.

I am under contract on a house, so the bank will be pulling credit again when we close late in May.

Congrats! Hope it all goes well, and that you're getting good terms. When it comes to credit, good terms on a mortgage can certainly make signup bonuses pretty trivial!

And already my travel plans may be changing. I might need a Chip+PIN card sooner, rather than later. The reasons are complicated, but the destination has not been determined. Austria, Italy, and/or Norway are possibilities.


Thanks! I hope the reasons for your change in travel plans are joyous ones and that you'll get to enjoy the trip.

I'm pretty happy with the terms. I locked in a fixed 30 year rate. I'm betting interest rates will continue to creep up. I wouldn't be surprised at all if, over the next 30 years, they never got back down to their lowest post-crisis, so I definitely think fixed was the way to go. We got a USDA mortgage (which allows nothing down), so there is a little premium on the interest rate, but I think it is well worth the trade off. We don't have to drain what we had in investments, and they're earning much more than the marginal increase from a conventional mortgage rate.

I'm thrilled that we were able to get the best rate the bank offered for that type of mortgage. I wish I could say it was all thanks to using credit cards to build credit without taking on any debt, but I am nearly a year into a car loan now so that might not be the case. I'd be interested to find out if we'd be in the same situation had we never bought the car (not that I regret it - with two clunkers carrying both of us all the way through college [and mine also getting me through high school], I was ready to get something dependable with the potential for a long life). Either way, though, if you told me a few years ago that I would be able to get a mortgage at the lowest rate offered at 24 I would have been skeptical. It isn't nearly as hard as I would have expected. Assuming very good behavior, it just takes a few years of building. Biggest-purchase-I've-ever-made factor aside, I feel pretty good about the whole process!



CarefulBuilder14 wrote:In the spirit of gardening/spring cleaning, what are some cards that people may have once wanted to app for that they are now ruling out? For myself, for the time being, at least...

I've ruled out Discover Miles. I use my It infrequently enough as it is. 3% cash back for one year isn't really so much better than 1.5 MRs/$.

I've ruled out the possibility of an Arrival+ past the first year, thus saving me from an additional annual fee. Most places I go do take Amex.

I'm close to ruling out the Ritz-Carlton. At first it looked good - I'd thought I'd be paying a high AF but then recouping a lot of it through travel credits. I've been doing more research, though, and the credits are less flexible than I first thought.


I'll also have to rule out the Arrival+, the notion of which I was previously just slightly entertaining. If I got a general travel card it would be the Discover Miles. 3% even for just a year sounds pretty enticing to me. With a mortgage under my belt, I will feel free to start churning now!

I definitely want to go for a Sallie Mae as soon as it is safe - particularly if it will cover Walmart (a major merchant for my spending). I'd be open to something like a PRG for the introductory bonus then canceling after a year or so. Who needs an 800+ score when there are rewards to be had?
-Vattené
FICO-8:
EX - 809 (11/16) | TU - 803 (11/16)
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

Ghoshida
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Re: May 2015 Garden Cult thread please join us

Postby Ghoshida » Fri May 01, 2015 12:13 am

Nixon wrote:
kdm31091 wrote:The solution is to a) not get into the pissing matches and b) don't bring it up. While it's annoying because the mods/CLs have brought up MS before, two wrongs don't make a right. It's myfico's game and they can have whatever rules they want and enforcing rules is often double standardized on forums. There are plenty of forums to discuss MS/churning and the like, so why not post on those instead? It seems even though you have a huge post count on myfico it really isn't a great fit because you lean towards the "game the system" end of credit whereas some people on there are looking for a different approach/advice, and the mods frown on your approach. I'm not saying this to disrespect you but just something to consider. Perhaps you are simply spending too much time on there.


Actually it seems to be just fine of a fit on most fronts. Churning may not be encouraged but it's not really frowned upon there either.

I lean towards gaming the system because the system will game you every chance it gets..



(1) Absolutely valid point. People talking about ethics et al and taking judgmental positions get me worked up. Banks are known to screw people over given one chance so what's the big deal in people trying to make some money out of the banks? In any case whatever churning and MS we do it's not going to make a tiny bit of dent in the big banks' coffers.

(2) BTW Nixon what did you do? I don't log in for 2 days on to MF (need to get some work done, seriously) and you've been banned? Last post says 28 Apr 2015. Wow.
AMEX BCE | PRG || Barclaycard Sallie Mae || Capital One QuickSilver | Venture || Chase Freedom | Sapphire Preferred || Citi Dividend || Discover It || UFCU Great Rate || US Bank Cash+ #1 | Cash+ #2 | Club Carlson Plat | REI || Total CL $144.2k + PRG NPSL, not counting AU

Ghoshida
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Re: May 2015 Garden Cult thread please join us

Postby Ghoshida » Fri May 01, 2015 12:30 am

BTW with respect to the topic, am in the garden. Just not enough good-looking cards around. Don't really travel, so not bothered about great miles card.

Won't be looking at any new card until I could find a good-valued, practical, feasible way of using the UR points getting collected in the Freedom + CSP combo.
AMEX BCE | PRG || Barclaycard Sallie Mae || Capital One QuickSilver | Venture || Chase Freedom | Sapphire Preferred || Citi Dividend || Discover It || UFCU Great Rate || US Bank Cash+ #1 | Cash+ #2 | Club Carlson Plat | REI || Total CL $144.2k + PRG NPSL, not counting AU

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lg8302ch
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Re: May 2015 Garden Cult thread please join us

Postby lg8302ch » Fri May 01, 2015 2:34 am

Here another member to join the garden at least until 07/15 as I have set my time between apps to 6 months minimum. Maybe I will stick around a bit longer but that all depends on Amex. I am waiting for the 35K offer for SPG to come back and now simply hope it will not come before July :cheers:

Nixon
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Re: May 2015 Garden Cult thread please join us

Postby Nixon » Fri May 01, 2015 8:16 am

Ghoshida wrote:
Nixon wrote:
kdm31091 wrote:The solution is to a) not get into the pissing matches and b) don't bring it up. While it's annoying because the mods/CLs have brought up MS before, two wrongs don't make a right. It's myfico's game and they can have whatever rules they want and enforcing rules is often double standardized on forums. There are plenty of forums to discuss MS/churning and the like, so why not post on those instead? It seems even though you have a huge post count on myfico it really isn't a great fit because you lean towards the "game the system" end of credit whereas some people on there are looking for a different approach/advice, and the mods frown on your approach. I'm not saying this to disrespect you but just something to consider. Perhaps you are simply spending too much time on there.


Actually it seems to be just fine of a fit on most fronts. Churning may not be encouraged but it's not really frowned upon there either.

I lean towards gaming the system because the system will game you every chance it gets..



(1) Absolutely valid point. People talking about ethics et al and taking judgmental positions get me worked up. Banks are known to screw people over given one chance so what's the big deal in people trying to make some money out of the banks? In any case whatever churning and MS we do it's not going to make a tiny bit of dent in the big banks' coffers.

(2) BTW Nixon what did you do? I don't log in for 2 days on to MF (need to get some work done, seriously) and you've been banned? Last post says 28 Apr 2015. Wow.


Yeah, the "unethical" bashing annoyed the hell out of me and I would debate it at every turn.

Also, I'm not sure what I did this time. It could have been any number of things. I'm sure i'll find out when I get back in 6530 minutes.
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Nixon
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Re: May 2015 Garden Cult thread please join us

Postby Nixon » Fri May 01, 2015 8:17 am

lg8302ch wrote:Here another member to join the garden at least until 07/15 as I have set my time between apps to 6 months minimum. Maybe I will stick around a bit longer but that all depends on Amex. I am waiting for the 35K offer for SPG to come back and now simply hope it will not come before July :cheers:


I hope it doesn't come until January :(
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lg8302ch
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Re: May 2015 Garden Cult thread please join us

Postby lg8302ch » Fri May 01, 2015 8:35 am

Nixon wrote:
lg8302ch wrote:Here another member to join the garden at least until 07/15 as I have set my time between apps to 6 months minimum. Maybe I will stick around a bit longer but that all depends on Amex. I am waiting for the 35K offer for SPG to come back and now simply hope it will not come before July :cheers:


I hope it doesn't come until January :(

Why January ? Since there is no more Amex backdating :confused:

Nixon
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Re: May 2015 Garden Cult thread please join us

Postby Nixon » Fri May 01, 2015 8:39 am

lg8302ch wrote:
Nixon wrote:
lg8302ch wrote:Here another member to join the garden at least until 07/15 as I have set my time between apps to 6 months minimum. Maybe I will stick around a bit longer but that all depends on Amex. I am waiting for the 35K offer for SPG to come back and now simply hope it will not come before July :cheers:


I hope it doesn't come until January :(

Why January ? Since there is no more Amex backdating :confused:


Because my EX report will be clean again ;)
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lg8302ch
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Re: May 2015 Garden Cult thread please join us

Postby lg8302ch » Fri May 01, 2015 8:52 am

I hope it doesn't come until January :([/quote]
Why January ? Since there is no more Amex backdating :confused:[/quote]

Because my EX report will be clean again ;)[/quote]
oh ..that will make sense :) I would have been surprised if you did not know about the best feature of Amex gone :ppp



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