December 2015 Garden Club

For just about anything you want to get off your chest about credit cards.
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kdm31091
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Re: December 2015 Garden Club

Postby kdm31091 » Sun Dec 13, 2015 3:49 pm

They absolutely cannot think for themselves. For example, before people realized Capital One was giving mega limits on the Venture, it was pretty much bashed as a restrictive and not useful card (after collecting the bonus). All of a sudden, when huge limits become common, it was the best card and everyone fell over themselves to have it. Ditto with the Amex Platinum. If it's popular, they want it, regardless of anything else. Those 10 new accounts per month will follow them for at least the next decade. Is it really worth it? Good luck explaining that garbage to a mortgage underwriter. While you can explain some things to a degree, having a pattern of chasing every single card trend is going to bite you sooner or later.


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CarefulBuilder14
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Re: December 2015 Garden Club

Postby CarefulBuilder14 » Mon Dec 14, 2015 2:03 pm

I've not done much research into it, but it looks like Fidelity has a promotion for bringing in nonretirement assets. Up to 50k miles on Delta, United, or AA.

A big bonus without a new account...makes it easier to garden!
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Letting new accounts cool off since May
Really not sure what I'll add next or when

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CarefulBuilder14
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Re: December 2015 Garden Club

Postby CarefulBuilder14 » Mon Dec 14, 2015 4:11 pm

CarefulBuilder14 wrote:I've not done much research into it, but it looks like Fidelity has a promotion for bringing in nonretirement assets. Up to 50k miles on Delta, United, or AA.

A big bonus without a new account...makes it easier to garden!

Just signed up for the Delta promo (since I know I'll use the SkyMiles and they don't expire) and put in the asset transfer request on some buy-and-hold index ETFs.

Seven minutes of work gets 50k miles...

I think I like this "unconventional points" game. :ppp
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: December 2015 Garden Club

Postby kdm31091 » Mon Dec 14, 2015 9:36 pm

Those people crack me up...making threads about their Barclay BT offers, then saying "but i'd never use it or they'd AA me!"

I mean...Barclay's wouldn't offer BTs if they didn't EVER want someone to use it. The issue is when the person using it also has the typical myfico 20 inquiries per month, 5 new accounts this week, etc. They act like Barclay's would never just let a BT go off without a hitch. Absolutely ridiculous paranoia.

Nixon
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Re: December 2015 Garden Club

Postby Nixon » Mon Dec 14, 2015 11:08 pm

I've used Barclaycard BT's countless times and have had no issues.
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kdm31091
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Re: December 2015 Garden Club

Postby kdm31091 » Tue Dec 15, 2015 7:40 am

Nixon wrote:I've used Barclaycard BT's countless times and have had no issues.


Exactly. We have to keep in mind too that some of those AA stories are definitely made up just to make a ruckus.

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Re: December 2015 Garden Club

Postby Nixon » Tue Dec 15, 2015 9:47 am

kdm31091 wrote:
Nixon wrote:I've used Barclaycard BT's countless times and have had no issues.


Exactly. We have to keep in mind too that some of those AA stories are definitely made up just to make a ruckus.


Add to the fact my credit profile isn't exactly perfect either except now on TU (Other than utilization because I don't pay before statement cut...)

I just make LARGE payments and if I use the card with BT on it, I pay in addition to paying in full my purchases.
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kdm31091
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Re: December 2015 Garden Club

Postby kdm31091 » Tue Dec 15, 2015 11:22 am

There are exceptions but I think generally speaking, if one uses a BT, as long as they are making more than the minimum payment and the balance is steadily disappearing, the bank is unlikely to care, be it Barclay's, Chase, whoever. "Barclay's hates BTs" is just a silly meme perpetuated by people who probably would have gotten AA whether they did the BT or not because they plain have too many new accounts.

Barclay's simply wouldn't offer BTs as a trap to lure you in and then CLD your account. While there have been reports of it, it doesn't mean they should apply a blanket "rule" to the lender. Contrary to myfico belief, they don't market BTs as a "trick"...they want you to use them. The difference is that with any BT, there should be a pay down plan, not just using it as a band aid for overspending which I get the feeling a lot of them are doing and that's why consequences have occured.

As far as my Barclay card, Upromise, I don't recall getting any BT offers but I wouldn't need it anyway at this point.

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Re: December 2015 Garden Club

Postby Vermonster » Tue Dec 15, 2015 12:57 pm

I don't have the ability to check, but I believe banks are prohibited from AA for only making minimum payments. There has to be more proof of an increase in risk for a bank to AA someone. BT offers are not just a blank check. At most you can get the limit of your card, which should be the limit the bank is willing to lend you.
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4ktvs
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Re: December 2015 Garden Club

Postby 4ktvs » Tue Dec 15, 2015 2:24 pm

I am so pissed at myself right now for what I did last month. I thought my app for the FNBO Bucksback visa didn't go though and then they changed the app to where only a limited number of states could apply so I thought that was the end of it. Well they got the app at some point and I guess it went to manual UW and now I just got $1k card.

Well that showed me didn't it. At lest it's a nice card and now my lowest APR card by far. Now I will have to get to work on getting a darn CLI on this darn thing.

P.S I know this is of my own fault so I will deal with it. But still someone needs to do this to me: :beat:

So now I have 6HP in two years, darn it.



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