February 2016 Garden Club

For just about anything you want to get off your chest about credit cards.
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Tubpbs
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Re: February 2016 Garden Club

Postby Tubpbs » Mon Feb 01, 2016 5:01 pm

In the garden for the foreseeable future.

Only card I want, I definitely don't need. Need to drop a lot of inquiries from Experian and let some things age a little.
Amex - BCP, Platinum, Business Gold
BoA - BankAmericard Cash Rewards
Chase - Freedom, CSP, RC, Ink Plus
Citi - DC, Prestige
Discover - It


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Vattené
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Re: February 2016 Garden Club

Postby Vattené » Mon Feb 01, 2016 5:34 pm

Kevin86475391 wrote:That will be nice! I'm very disappointed this quarter since they're both doing gas....I buy at most $30 worth of gas about every 3 months. So both cards are useless for me right now with category spending. Restaurants and groceries are two of my biggest spend categories though (along with online shopping).

Do you ever get gift cards for restaurants at gas stations during gas quarters? You're a lot more limited to what gift cards are available, and of course some gas stations have nothing while some have much more choices, but if you find you're going to a big chain anyway you might be able to get a gift card for it on the way. I've done that during gas and home improvement quarters. Could be a good way to boost your 5% spending without increasing your overall spending, and it's not too much of a hassle.



Kevin86475391 wrote:Yeah, I didn't know that either. I've had mine for well over a year though, so I'm sure I'm not entitled to any new account bonus. Their checking account is pretty nice too. You get .10 cash back on every transaction (debit, deposit, or bill pay, up to 300 transactions I think). Not much, but theoretically any time you would be charging something tiny on another card, you're better off rewards-wise using the cashback checking instead. In practice I don't bother with it though since I don't even carry the card.


yfan wrote:I'm starting to take advantage of Cashback checking starting this month. Up until last month, my CU was giving 4% interest on up to $20K account balance with certain conditions (like bill pay), so I just paid all my CC bills with them for simplicity's sake. They are reducing that now to 3% on $10K balance so I'll leave one bill with them (I have a CC from them so luckily it'll be just that) and move the rest to be paid (pushed) from my Discover Cashback checking.

I'm currently getting just 2% interest, but I find it worth it to jump through the hoops. If my bank ever got rid of it, I would probably move my business to a Discover checking account for their cashback program plus use their debit card for any transaction I made under $10. I like to support local banks, but if they can't compete with the bigger banks (like they generally can't when it comes to credit card rewards) then it's their loss.
-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)

Kevin86475391
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Re: February 2016 Garden Club

Postby Kevin86475391 » Mon Feb 01, 2016 8:42 pm

Vattené wrote:
Kevin86475391 wrote:That will be nice! I'm very disappointed this quarter since they're both doing gas....I buy at most $30 worth of gas about every 3 months. So both cards are useless for me right now with category spending. Restaurants and groceries are two of my biggest spend categories though (along with online shopping).

Do you ever get gift cards for restaurants at gas stations during gas quarters? You're a lot more limited to what gift cards are available, and of course some gas stations have nothing while some have much more choices, but if you find you're going to a big chain anyway you might be able to get a gift card for it on the way. I've done that during gas and home improvement quarters. Could be a good way to boost your 5% spending without increasing your overall spending, and it's not too much of a hassle.


That's a good idea, thanks. I definitely might do that if I see some for restaurants I like. I'm used to seeing gift cards in grocery stores, but it hadn't even crossed my mind that they'd be in gas stations too. LOL, on the very rare occasions I go to gas stations I usually just swipe my card outside and leave without ever going in. They could be selling unicorn horns in there and I wouldn't know. :ppp

I'll have to pop my head in and check it out.

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CarefulBuilder14
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Re: February 2016 Garden Club

Postby CarefulBuilder14 » Mon Feb 01, 2016 8:57 pm

Tubpbs wrote:In the garden for the foreseeable future.

Only card I want, I definitely don't need. Need to drop a lot of inquiries from Experian and let some things age a little.

Something from Amex or Chase? Or another issuer that pulls EX for you?

I'm happy to avoid restaurant gift cards with Q2 Discover and Q3 Freedom.
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

Kevin86475391
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Re: February 2016 Garden Club

Postby Kevin86475391 » Mon Feb 01, 2016 9:05 pm

CarefulBuilder14 wrote:
Tubpbs wrote:In the garden for the foreseeable future.
I'm happy to avoid restaurant gift cards with Q2 Discover and Q3 Freedom.

But we're in Q1 right now, and I'm getting hungry! :ppp

LOL, no actually I don't mind waiting all that much. It's still winter so I'm disinclined to leave the house much anyway.

Tubpbs
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Re: February 2016 Garden Club

Postby Tubpbs » Mon Feb 01, 2016 10:06 pm

CarefulBuilder14 wrote:
Tubpbs wrote:In the garden for the foreseeable future.

Only card I want, I definitely don't need. Need to drop a lot of inquiries from Experian and let some things age a little.

Something from Amex or Chase? Or another issuer that pulls EX for you?

I'm happy to avoid restaurant gift cards with Q2 Discover and Q3 Freedom.


Chase and they pull Experian for me, but it's more about feeling overall that I need to let my shit age before I apply for anything else. I think I could get approved for the card @ 5K now if I wanted, but my goal is to wait 6 more months to 12 more months and get approved for 15-20K hopefully. That's my plan / goal. We shall see.
Amex - BCP, Platinum, Business Gold
BoA - BankAmericard Cash Rewards
Chase - Freedom, CSP, RC, Ink Plus
Citi - DC, Prestige
Discover - It

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Vattené
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Re: February 2016 Garden Club

Postby Vattené » Mon Feb 01, 2016 11:03 pm

Kevin86475391 wrote:That's a good idea, thanks. I definitely might do that if I see some for restaurants I like. I'm used to seeing gift cards in grocery stores, but it hadn't even crossed my mind that they'd be in gas stations too. LOL, on the very rare occasions I go to gas stations I usually just swipe my card outside and leave without ever going in. They could be selling unicorn horns in there and I wouldn't know. :ppp

I'll have to pop my head in and check it out.

That's what I usually do, too, but some do have a decent gift card selection. I try not to buy anything other than fuel or the occasional gift card for rewards maximizing purposes from gas stations. Anything else is way overpriced.
-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)

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CarefulBuilder14
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Re: February 2016 Garden Club

Postby CarefulBuilder14 » Tue Feb 02, 2016 12:10 am

Tubpbs wrote:
CarefulBuilder14 wrote:
Tubpbs wrote:In the garden for the foreseeable future.

Only card I want, I definitely don't need. Need to drop a lot of inquiries from Experian and let some things age a little.

Something from Amex or Chase? Or another issuer that pulls EX for you?

I'm happy to avoid restaurant gift cards with Q2 Discover and Q3 Freedom.


Chase and they pull Experian for me, but it's more about feeling overall that I need to let my shit age before I apply for anything else. I think I could get approved for the card @ 5K now if I wanted, but my goal is to wait 6 more months to 12 more months and get approved for 15-20K hopefully. That's my plan / goal. We shall see.

From what I've read and experienced, once Chase feels a customer is established, they tend to approve applications until their total exposure reaches some limit relative to income. I don't know how business card CLs are factored in.

Gardening is probably good if you have a lot of recent activity, but I wouldn't assume that gardening would necessarily mean a much higher CL when you apply (unless your income rises appreciably, or is already high relative to your Freedom and CSP limits).

My view is that I like bonuses and can always apply for more credit, so "good timing" for me means there's a good bonus available, I can use it, and I'm not likely to get AA for it. I don't care about maximizing CLs.
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

Tubpbs
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Re: February 2016 Garden Club

Postby Tubpbs » Tue Feb 02, 2016 6:08 am

Yea. I don't know how business credit is factored. My income is expected to jump significantly and I personally feel that my limits are pretty weak relative to my income.

We'll see how long I make it, but that's sort of my plan for now.
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: February 2016 Garden Club

Postby kdm31091 » Tue Feb 02, 2016 7:37 am

To me, if one doesn't garden often and likes to apply for a new card even every 2 months, the problem is that remember, reporting is delayed. So if you apply in January and March, the January card probably just started dinging your average age of accounts and has had zero time to age by March. So you will always have a very new account reporting if you app this frequently.

Of course, there's some people who find it irrelevant because at the moment they have no other credit needs. But it's something to be aware of, and needs can change. You may need a HP for something else in life, and may be upset if you already have 30 this year. (This isn't directed at anyone specific, btw)



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