March 2016 Garden Thread

For just about anything you want to get off your chest about credit cards.
85 posts
JonE
Centurion Member
Centurion Member
 
Posts: 335
Joined: Sat Jan 24, 2015 9:55 am
Location: Denver

Re: March 2016 Garden Thread

Postby JonE » Fri Mar 04, 2016 9:30 pm

kdm31091 wrote:
Dcyphrz wrote:One guy has like 47 inquiries on a CRA and 60 cards!? I assume he's being truthful. Maybe it's a joke and I'm just not getting it.


Sadly, probably not a joke...it doesn't take too many "impulse apps" to rack up those kinds of inquiries


I really don't participate in the dick-measuring contests that go on over there on a regular basis. I have my main cards and don't need but one or two more. At this point if Freedom Unlimited is everything we think it is, I may try to PC from the regular freedom as opposed to applying for a new account.
Current Cards: Chase Freedom, Discover IT
Future: TBD


User avatar
Dcyphrz
Platinum Member
Platinum Member
 
Posts: 75
Joined: Sun Jan 03, 2016 2:57 pm

Re: March 2016 Garden Thread

Postby Dcyphrz » Sat Mar 05, 2016 12:59 am

CarefulBuilder14 wrote:Who are we talking about?

I missed the screen name. To me he'll always be Crazy 60 Card Guy. LOL
Image

EX 756 - TU 776 - EQ 749

kdm31091
Centurion Member
Centurion Member
 
Posts: 1009
Joined: Sat Feb 21, 2015 3:35 pm
Location: Claymont, DE

Re: March 2016 Garden Thread

Postby kdm31091 » Sat Mar 05, 2016 8:24 am

JonE wrote:
kdm31091 wrote:
Dcyphrz wrote:One guy has like 47 inquiries on a CRA and 60 cards!? I assume he's being truthful. Maybe it's a joke and I'm just not getting it.


Sadly, probably not a joke...it doesn't take too many "impulse apps" to rack up those kinds of inquiries


I really don't participate in the dick-measuring contests that go on over there on a regular basis. I have my main cards and don't need but one or two more. At this point if Freedom Unlimited is everything we think it is, I may try to PC from the regular freedom as opposed to applying for a new account.


Biggest thing I avoid is the approvals section. Not because it encourages impulse apps, but because dear lord, it's the same 20 pages of congrats over and over for every person. Very robotic and strange, so I just avoid it.

Nixon
Centurion Member
Centurion Member
 
Posts: 1071
Joined: Mon Nov 03, 2014 11:12 am
Location: Great Southwest

Re: March 2016 Garden Thread

Postby Nixon » Sat Mar 05, 2016 9:03 am

kdm31091 wrote:
JonE wrote:
kdm31091 wrote:Biggest thing I avoid is the approvals section. Not because it encourages impulse apps, but because dear lord, it's the same 20 pages of congrats over and over for every person. Very robotic and strange, so I just avoid it.


I never understood why the approvals were never split to real CC's and store CC's.

Congratulating people for a store CC is like congratulating someone for chopping their thumb off instead of their hand.
Image

kdm31091
Centurion Member
Centurion Member
 
Posts: 1009
Joined: Sat Feb 21, 2015 3:35 pm
Location: Claymont, DE

Re: March 2016 Garden Thread

Postby kdm31091 » Sat Mar 05, 2016 9:22 am

And the same blanket congrats is given no matter what. "I got approved for Wayfair! I've never shopped there and never will!"

"Congrats +1!! x100! WTG! your journey is complete!!!"

Um, what?

User avatar
Dcyphrz
Platinum Member
Platinum Member
 
Posts: 75
Joined: Sun Jan 03, 2016 2:57 pm

Re: March 2016 Garden Thread

Postby Dcyphrz » Sat Mar 05, 2016 10:27 am

Yea "Congrats on that.....thing you didn't need at all. Hooray for CC apps!" LOL (One user literally never posts anything besides "congrats" LMAO) I get how exciting an approval can be when you're young or maybe with a particular CC (was super stoked to get my first AMEX!). I just don't understand what drives some of these apps. A $8000 Restoration Hardware limit would be of no use to me. I can see having cards that grant discounts exceeding what the cash back would pay but only if I was already going to be shopping there.

I think somebody here posted at MF how they wanna get back to fewer cards. I'm starting to think culling the herd might be a good move for me also.
Image

EX 756 - TU 776 - EQ 749

kdm31091
Centurion Member
Centurion Member
 
Posts: 1009
Joined: Sat Feb 21, 2015 3:35 pm
Location: Claymont, DE

Re: March 2016 Garden Thread

Postby kdm31091 » Sat Mar 05, 2016 10:44 am

Dcyphrz wrote:Yea "Congrats on that.....thing you didn't need at all. Hooray for CC apps!" LOL (One user literally never posts anything besides "congrats" LMAO) I get how exciting an approval can be when you're young or maybe with a particular CC (was super stoked to get my first AMEX!). I just don't understand what drives some of these apps. A $8000 Restoration Hardware limit would be of no use to me. I can see having cards that grant discounts exceeding what the cash back would pay but only if I was already going to be shopping there.

I think somebody here posted at MF how they wanna get back to fewer cards. I'm starting to think culling the herd might be a good move for me also.


What drives the apps is sadly probably very similar to a gambling addiction. It's an underlying problem and the "thrill" of getting approved makes people feel good, even for crap cards that they have no use for. That said, just like gambling, these people would be better suited finding another outlet for their desire.

Well, there's just the aspect of diminishing returns as you add more and more cards. Some people just want to go from bonus to bonus, and that's fine, but if we're just considering everyday earning, it becomes not really worthwhile to add more cards at some point. For every card you add, you (hopefully) aren't increasing your spend, so the spend is now diluted further and therefore so are the rewards.

If you have a massive income, you can get away with tons of cards/programs but generally I think people tend to spread themselves too thin. For an "average" spender, you aren't going to gain much traction in any program if you are spending across 15 cards. Just my viewpoint.

User avatar
Dcyphrz
Platinum Member
Platinum Member
 
Posts: 75
Joined: Sun Jan 03, 2016 2:57 pm

Re: March 2016 Garden Thread

Postby Dcyphrz » Sat Mar 05, 2016 12:07 pm

kdm31091 wrote:...the spend is now diluted further and therefore so are the rewards.

I have noticed that when you spread the same spend across more cards, the wait for redeeming them is a lot longer. You may gain a point here and there by gaming different categories but it kinda feels like the progress has slowed.

I'm way guilty of chasing bonuses but the cards are also good cards IMO. I see how ppl get addicted to this whole thing and I'm hyper aware of my own apping behavior. LOL
Image

EX 756 - TU 776 - EQ 749

User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 3745
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Re: March 2016 Garden Thread

Postby CarefulBuilder14 » Sat Mar 05, 2016 1:40 pm

It's kind of funny to see store card CLIs (and the lack thereof) affect shopping habits on MF.

I've been shopping at Brooks Brothers for a while. My CL is lousy, but the $20 gift cards and 25% off coupons do add up. The basic logic is sound: I have a card because it saves me some money on what I'd be buying, anyway.

But it's so weird to see high CLs shape where a person shops - or at least what brands a person identifies with, if he or she doesn't shop there much.

I mean, under what other circumstances would someone close all store cards except for Old Navy and Barneys?
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

Nixon
Centurion Member
Centurion Member
 
Posts: 1071
Joined: Mon Nov 03, 2014 11:12 am
Location: Great Southwest

Re: March 2016 Garden Thread

Postby Nixon » Sat Mar 05, 2016 2:21 pm

CarefulBuilder14 wrote:It's kind of funny to see store card CLIs (and the lack thereof) affect shopping habits on MF.

I've been shopping at Brooks Brothers for a while. My CL is lousy, but the $20 gift cards and 25% off coupons do add up. The basic logic is sound: I have a card because it saves me some money on what I'd be buying, anyway.

But it's so weird to see high CLs shape where a person shops - or at least what brands a person identifies with, if he or she doesn't shop there much.

I mean, under what other circumstances would someone close all store cards except for Old Navy and Barneys?

Because even if she closes cards, Laura is still a basketcase.
Image



Return to “General Credit Card Talk”

Who is online

Users browsing this forum: No registered users and 2 guests