October 2015 Garden Club

For just about anything you want to get off your chest about credit cards.
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Vattené
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Re: October 2015 Garden Club

Postby Vattené » Thu Oct 29, 2015 4:12 pm

Nixon wrote:Speaking of HP for CLI, I am absolutely LOVING that that the store card trick kids are getting hammered by Comenity lately for pissant $500 CLIs..

The abuse would only last so long and redemption is finally catching up!

$500 increase. Uh oh, watch out for a "2X Comenity CLI" meme to pop up.


Tubpbs wrote:Yea. I find it very difficult to keep track of everything. Perhaps part of it is that I'm almost always on mobile, but I don't think so.

There seems to be way too many categories and subcategories for me to work with and I get confused. It seems to be more active than this forum, but also seems to contain significantly less potency and realistic, honest responses. Every now and again I'm intrigued and engaged by a thread and after reading it I try to read more, but it never works out.

I feel the same way. I never go there unless someone here links to something entertaining. I do sometimes wish this forum was more active, but the content is better by leaps and bounds...plus I probably get busy and feel like I'm not keeping up just as frequently.
-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


Tubpbs
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Re: October 2015 Garden Club

Postby Tubpbs » Fri Oct 30, 2015 11:59 am

Nixon wrote:Speaking of HP for CLI, I am absolutely LOVING that that the store card trick kids are getting hammered by Comenity lately for pissant $500 CLIs..

The abuse would only last so long and redemption is finally catching up!




What is happening to the "store card trick kids"? How are they getting hammered?

Also, can you specify what a "store card trick" is?

Thanks.
Amex - BCP, Platinum, Business Gold
BoA - BankAmericard Cash Rewards
Chase - Freedom, CSP, RC, Ink Plus
Citi - DC, Prestige
Discover - It

kdm31091
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Re: October 2015 Garden Club

Postby kdm31091 » Fri Oct 30, 2015 12:16 pm

Tubpbs wrote:
Nixon wrote:Speaking of HP for CLI, I am absolutely LOVING that that the store card trick kids are getting hammered by Comenity lately for pissant $500 CLIs..

The abuse would only last so long and redemption is finally catching up!




What is happening to the "store card trick kids"? How are they getting hammered?

Also, can you specify what a "store card trick" is?

Thanks.


They obtain generally useless cards through the "shopping cart trick". You go to a website, fill up your cart pretending to make a purchase and then an offer for a "pre approved" card sometimes will pop up. Some posters on there seem to be gobbling up every single one, which is laughable since some of them seem to have zero use for most of the cards.

In the past, the approval was a SP, AND you could get frequent CLIs with a SP as well. But still, it's not like it's card you can use everywhere so not sure what the attraction really is. Recently, Comenity, who issues these cards, has evidently tightened up. The approvals still are SPs for most people but CLIs have transformed into HPs. I applaud it, as it stops the rampant abuse like Nixon stated above.

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CarefulBuilder14
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Re: October 2015 Garden Club

Postby CarefulBuilder14 » Fri Oct 30, 2015 12:30 pm

Hyatt finally arrived *after applying 2 weeks ago*.

I called Barclaycard and Discover and got my "permanent" APRs down on IT and Sallie Mae, but didn't find any spend promos. I also got 7 months at 0% on my Sallie Mae. I may or may not take advantage of it.

I did carry my first balance recently (on EDP and at 0%).

*I find MF isn't too bad if I talk to other rewards people. I'll just avoid the "more credit is necessarily better" threads in the future.*

**In one case, I tried to persuade a rebuilder with $600k+ of credit across 25-30 issuers (and an unspecified number of actual cards!) that paying $300/yr for a Diners Elite that served no purpose other than being a hidden $30k TL probably wasn't necessary. I was in the minority and my voice was quickly drowned out by everyone congratulating one another on Comenity cards.**
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

kdm31091
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Re: October 2015 Garden Club

Postby kdm31091 » Fri Oct 30, 2015 4:05 pm

Honestly I find less time on myfico is better for my mental health because the posters will drive you crazy after awhile. A so called community leader who hops into every thread and loves to argue with me just said I should stop pushing doom and gloom about Sallie Mae, yet they are in every thread saying it will never ever be nerfed. Even going so far as to arbitrarily state that the card will work into 2020.

They love to argue, yet act like others with more reasonable perspectives are crazy. Any card can be nerfed at any time. Instead of arguing for 20 pages about it, a leader especially should just agree to disagree and move the heck on

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CarefulBuilder14
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Re: October 2015 Garden Club

Postby CarefulBuilder14 » Fri Oct 30, 2015 5:05 pm

The Kudos system is pretty nuts. Kudos should go to helpful, insightful posts...and such posts often get Kudos.

But other times, it's given as a "Congrats" message...which, depending on a person's circumstances, may or not be appropriate.

Sometimes there's no apparent reason at all.

But my favorite is when one person gives Kudos to both sides of an argument over some simple, uncomplicated matter...one where there's not much room for both to be right.
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

Tubpbs
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Re: October 2015 Garden Club

Postby Tubpbs » Fri Oct 30, 2015 5:27 pm

kdm31091 wrote:Honestly I find less time on myfico is better for my mental health because the posters will drive you crazy after awhile. A so called community leader who hops into every thread and loves to argue with me just said I should stop pushing doom and gloom about Sallie Mae, yet they are in every thread saying it will never ever be nerfed. Even going so far as to arbitrarily state that the card will work into 2020.

They love to argue, yet act like others with more reasonable perspectives are crazy. Any card can be nerfed at any time. Instead of arguing for 20 pages about it, a leader especially should just agree to disagree and move the heck on


This seems totally crazy to me. I understand what they're going for as a starting point...be nice and supportive first and foremost...but it's not a forum for children and the stated purpose of at least part of it, if not all of it, is as an educational venue. Restricting people's insightful responses (especially when they know that it is actually the more educated long term strategy) seems like it could only serve to harm the members they presumably value and aim to educate.

Again, I understand certain circumstances where the way the site operates makes sense, but when it gets down to refusing to acknowledge that a card's rewards could change, it just seems absurd to the point of stupidity. The people in charge must comprehend the basics and, thus, must ignore them when moderating the site in order to attempt to make the majority happy.

Like others have said, there are far fewer posts and threads on this site, but the vast majority are actually interesting and if not are at least moderately interesting and thoughtful.

Anyone planning to leave the garden in the last two days of October? I need to get in it but I never really do...
Amex - BCP, Platinum, Business Gold
BoA - BankAmericard Cash Rewards
Chase - Freedom, CSP, RC, Ink Plus
Citi - DC, Prestige
Discover - It

Nixon
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Re: October 2015 Garden Club

Postby Nixon » Fri Oct 30, 2015 8:21 pm

Most of the community leaders over there currently....Let's just say they are pretty much a complete 180 from how they were before they were bestowed with such an "honor"

I understand wanting to make people "feel good" and encourage them to keep at it, but come on. 550-600 FICO's will NOT get you a 20K Venture or a 10K Chase card. And don't even get me started on the "utilization gurus" over there. More credit for lower utilization just means you can be in more debt at any given time and not look like a risk.





I'll admit, Lately I took a good ribbing from the analyst over at Chase when I called in about my new BA card. "Why are you using so many cards, I can see you are paying all but 1 or 2 in full monthly." The conversation wasn't about my utilization, but about me exercising my right to diversify my spending amongst my lenders. The point of the matter was that my current usage wasn't sufficient relative to my income level, therefore they wouldn't grant any more credit (but allowed me to thin out some other cards to make the new account.)
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JonE
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Re: October 2015 Garden Club

Postby JonE » Sat Oct 31, 2015 7:27 am

Tubpbs wrote:
kdm31091 wrote:Honestly I find less time on myfico is better for my mental health because the posters will drive you crazy after awhile. A so called community leader who hops into every thread and loves to argue with me just said I should stop pushing doom and gloom about Sallie Mae, yet they are in every thread saying it will never ever be nerfed. Even going so far as to arbitrarily state that the card will work into 2020.

They love to argue, yet act like others with more reasonable perspectives are crazy. Any card can be nerfed at any time. Instead of arguing for 20 pages about it, a leader especially should just agree to disagree and move the heck on


This seems totally crazy to me. I understand what they're going for as a starting point...be nice and supportive first and foremost...but it's not a forum for children and the stated purpose of at least part of it, if not all of it, is as an educational venue. Restricting people's insightful responses (especially when they know that it is actually the more educated long term strategy) seems like it could only serve to harm the members they presumably value and aim to educate.

Again, I understand certain circumstances where the way the site operates makes sense, but when it gets down to refusing to acknowledge that a card's rewards could change, it just seems absurd to the point of stupidity. The people in charge must comprehend the basics and, thus, must ignore them when moderating the site in order to attempt to make the majority happy.

Like others have said, there are far fewer posts and threads on this site, but the vast majority are actually interesting and if not are at least moderately interesting and thoughtful.

Anyone planning to leave the garden in the last two days of October? I need to get in it but I never really do...


There are a select few people on those boards that make sense, and the Personal Finance section is filled with some pretty good information, but the Credit Card section is turning into what you would find on FARK.com or Reddit. For the most part I just read it for the entertainment value.

And anyone care to guess how many of the actual posts on MF are "congrats +1"?

Anywho, I don't plan on leaving 'the garden' until well into 2016 when a few baddies fall off and I have a chance to report some on-time car payments. And leaving the garden may or may not include refinancing the car to get the rate down. By the time October rolls around (i.e. 2 years with Chase and Synchrony) I'll probably shoot for one or two of my wish list cards if the FICO score is reasonable enough. And see if the Wally card has converted to a MasterCard by that point, if not, or if there isn't a reasonable CLI applied to it, I may just dump it along with CareCredit.
Current Cards: Chase Freedom, Discover IT
Future: TBD

kdm31091
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Re: October 2015 Garden Club

Postby kdm31091 » Sat Oct 31, 2015 9:26 am

I'm in the garden indefinitely. Unless one of my cards changes significantly, I have enough for my spend (more than enough really) and accrue pretty decent rewards. I'm not one to chase after every extra penny by opening a special new card for every extra 0.5% on every possible category I may spend on. To me that's ridiculous and a waste of time, but to each their own.

People have stated there are rumors about a new card from Capital One coming out soon but I don't see what they would really do since they already have a psuedo "travel" card and a regular cash back card so I guess the new card would probably be some rotating category thing, which I honestly have grown weary of. It's annoying waiting to see what Discover will decide on for 5% each quarter. Generally, they make "good", broad selections, but I wish the card just had a few permanent categories. Q4 isn't bad, dept, clothing and Amazon but those are not exactly a bulk of my spend so it hasn't gotten much use. Perhaps the dept store thing will come in handy for Christmas shopping, but I can elect that on my cash+ also, so...meh.



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