December 2015 Garden Club

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

Postby yfan » Thu Dec 31, 2015 10:44 am

Vermonster wrote:
yfan wrote:
kdm31091 wrote:Now somehow the famous 18 yr old on myfico got 2 more huge capital one approvals. Why no one on there calls BS, I have no idea. Unless hes using household income. An 18 year old accountant making 80k sounds pretty absurd to me.

Hey maybe he's just having his 37th 18th birthday.


$100 says he gets financial review at some point in 2016 and lenders start closing or CLD him. We'll see him make a ton of threads about how unfair it is.

Well, we know that some on MF are very surprised that Chase shut down all their accounts after they used their personal checking to move 10s of thousands of dollars weekly for their business. Like, OMG, who would have seen THAT coming.


kdm31091
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Re: December 2015 Garden Club

Postby kdm31091 » Thu Dec 31, 2015 4:30 pm

A huge number of people on MF are either ridiculously naive or ridiculously entitled/arrogant -- either they do not believe that the AA could ever happen to them, or they simply think it won't because they have such a thick, great file that 20 new accounts a week is no problem.

Nixon
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Re: December 2015 Garden Club

Postby Nixon » Thu Dec 31, 2015 4:42 pm

kdm31091 wrote:A huge number of people on MF are either ridiculously naive or ridiculously entitled/arrogant -- either they do not believe that the AA could ever happen to them, or they simply think it won't because they have such a thick, great file that 20 new accounts a week is no problem.


Honestly, I think it's more the adding of accounts AND running them up immediately that causes hardcore AA to occur. I went through a process of adding many accounts but only ran so many bonuses at a time so as to not show too much of a balance creep.

As a matter of coincidence, my credit profile continued to improve as this went on so it was all golden.
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kdm31091
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Re: December 2015 Garden Club

Postby kdm31091 » Thu Dec 31, 2015 7:28 pm

Nixon wrote:
kdm31091 wrote:A huge number of people on MF are either ridiculously naive or ridiculously entitled/arrogant -- either they do not believe that the AA could ever happen to them, or they simply think it won't because they have such a thick, great file that 20 new accounts a week is no problem.


Honestly, I think it's more the adding of accounts AND running them up immediately that causes hardcore AA to occur. I went through a process of adding many accounts but only ran so many bonuses at a time so as to not show too much of a balance creep.

As a matter of coincidence, my credit profile continued to improve as this went on so it was all golden.


I think you're right. New accounts + balance creep is more of a recipe for AA IMO. And a lot of them on there don't know when to stop.



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