May 2016 Garden Club/Cult

For just about anything you want to get off your chest about credit cards.
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Vattené
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Re: May 2016 Garden Club/Cult

Postby Vattené » Fri May 20, 2016 2:07 pm

Good to hear from you again, Member. I haven't said "I'm definitely not getting anything," but maybe I should and it would make something new and exciting manifest. It seems like most of the big new products recently released are just copycats of existing cards. Part of it is I have great cards that work well for me and that I'm happy with (plus there's only so many different ways to offer rewards cards), but I'd love a game changer to come along and suck me into applying.
-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


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CarefulBuilder14
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Re: May 2016 Garden Club/Cult

Postby CarefulBuilder14 » Fri May 20, 2016 3:00 pm

I've hit breakeven on Prestige.

I've had the card in my possession for nine days, and already I've made purchases and booked upcoming travel that should give me:

$165 from 4th night free
$250 for airfare (plus the perk of AA Admiral lounge access)
$40+ from Price Rewind (I needed special clothing, tried it on in store, paid full retail price, and will match to a lower price online)
=$5 ahead of the $450 AF already

I picked a good time to be an app-ocrite! :cool:

Vattené wrote:Good to hear from you again, Member. I haven't said "I'm definitely not getting anything," but maybe I should and it would make something new and exciting manifest. It seems like most of the big new products recently released are just copycats of existing cards. Part of it is I have great cards that work well for me and that I'm happy with (plus there's only so many different ways to offer rewards cards), but I'd love a game changer to come along and suck me into applying.

The really magic words are "in the garden until May 2018". They seem to trigger sprees.
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: May 2016 Garden Club/Cult

Postby kdm31091 » Fri May 20, 2016 6:46 pm

"In the garden until 2018" and then 5 minutes later "Blispay approved!" seems to be pretty common.

I agree that most new offerings/products have been either redundant or just not exciting. Everyone fell all over themselves for the Marvel card with 3% on dining/entertainment when really if you already have a base 2% card, it's unlikely you'd gain more than what you'd gain with a $100 or $200 sign up bonus on something else. I am no churner but this is just pure math. Most people greatly overestimate the value of these "ooh! 3% on my sport event tickets!" type of cards. It seems common to assume that one should have a card for every possible given expense even when the expense is not a significant portion of a budget.

I'm finding gardening pretty easy because there's nothing out there that has been very compelling and it doesn't seem that's changing anytime soon, just a plethora of 1.5% cards and such.

MemberSince99
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Re: May 2016 Garden Club/Cult

Postby MemberSince99 » Sat May 21, 2016 4:00 pm

kdm31091 wrote:"In the garden until 2018" and then 5 minutes later "Blispay approved!" seems to be pretty common.

I agree that most new offerings/products have been either redundant or just not exciting. Everyone fell all over themselves for the Marvel card with 3% on dining/entertainment when really if you already have a base 2% card, it's unlikely you'd gain more than what you'd gain with a $100 or $200 sign up bonus on something else. I am no churner but this is just pure math. Most people greatly overestimate the value of these "ooh! 3% on my sport event tickets!" type of cards. It seems common to assume that one should have a card for every possible given expense even when the expense is not a significant portion of a budget.

I'm finding gardening pretty easy because there's nothing out there that has been very compelling and it doesn't seem that's changing anytime soon, just a plethora of 1.5% cards and such.


I never even knew there was a Marvel card until I saw all that stuff on MF. That's almost kind of another fad card over there.

Me I don't honestly care what superhero is on my card but maybe that's just me. One of my more demented co-workers had an idea of what he wanted to put on his card - you can probably guess but let's say it was a body part that surely would not be allowed.

Nixon
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Re: May 2016 Garden Club/Cult

Postby Nixon » Sat May 21, 2016 7:26 pm

kdm31091 wrote:"In the garden until 2018" and then 5 minutes later "Blispay approved!" seems to be pretty common.

I agree that most new offerings/products have been either redundant or just not exciting. Everyone fell all over themselves for the Marvel card with 3% on dining/entertainment when really if you already have a base 2% card, it's unlikely you'd gain more than what you'd gain with a $100 or $200 sign up bonus on something else. I am no churner but this is just pure math. Most people greatly overestimate the value of these "ooh! 3% on my sport event tickets!" type of cards. It seems common to assume that one should have a card for every possible given expense even when the expense is not a significant portion of a budget.

I'm finding gardening pretty easy because there's nothing out there that has been very compelling and it doesn't seem that's changing anytime soon, just a plethora of 1.5% cards and such.


I applied because it was a stupidly easy prybar with network backing and positive brand recognition.
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MemberSince99
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Re: May 2016 Garden Club/Cult

Postby MemberSince99 » Sat May 21, 2016 7:28 pm

Nixon wrote:
kdm31091 wrote:"In the garden until 2018" and then 5 minutes later "Blispay approved!" seems to be pretty common.

I agree that most new offerings/products have been either redundant or just not exciting. Everyone fell all over themselves for the Marvel card with 3% on dining/entertainment when really if you already have a base 2% card, it's unlikely you'd gain more than what you'd gain with a $100 or $200 sign up bonus on something else. I am no churner but this is just pure math. Most people greatly overestimate the value of these "ooh! 3% on my sport event tickets!" type of cards. It seems common to assume that one should have a card for every possible given expense even when the expense is not a significant portion of a budget.

I'm finding gardening pretty easy because there's nothing out there that has been very compelling and it doesn't seem that's changing anytime soon, just a plethora of 1.5% cards and such.


I applied because it was a stupidly easy prybar with network backing and positive brand recognition.



I applied so I could follow the herd over at MF.

MemberSince99
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Re: May 2016 Garden Club/Cult

Postby MemberSince99 » Sat May 21, 2016 7:31 pm

Vattené wrote:Good to hear from you again, Member. I haven't said "I'm definitely not getting anything," but maybe I should and it would make something new and exciting manifest. It seems like most of the big new products recently released are just copycats of existing cards. Part of it is I have great cards that work well for me and that I'm happy with (plus there's only so many different ways to offer rewards cards), but I'd love a game changer to come along and suck me into applying.



Hello Vattene hope you are well.

I'm not sure any real game changers are around the corner. They simply can't give too much more and be profitable. I'm kind of expecting rewards to get more nerfed rather than improved in the future. The only thing we have in our favor as consumers is competition - there are a number of lenders to choose from if you have good credit. Those lenders are always looking for good (profitable) customers.

But I'm not sure they can really give up much more and make money.

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Re: May 2016 Garden Club/Cult

Postby Tubpbs » Sat May 21, 2016 8:10 pm

MemberSince99 wrote:
Vattené wrote:Good to hear from you again, Member. I haven't said "I'm definitely not getting anything," but maybe I should and it would make something new and exciting manifest. It seems like most of the big new products recently released are just copycats of existing cards. Part of it is I have great cards that work well for me and that I'm happy with (plus there's only so many different ways to offer rewards cards), but I'd love a game changer to come along and suck me into applying.



Hello Vattene hope you are well.

I'm not sure any real game changers are around the corner. They simply can't give too much more and be profitable. I'm kind of expecting rewards to get more nerfed rather than improved in the future. The only thing we have in our favor as consumers is competition - there are a number of lenders to choose from if you have good credit. Those lenders are always looking for good (profitable) customers.

But I'm not sure they can really give up much more and make money.


I agree with the general premise of your thought here.

I think more likely than an increase in rewards, we will see more nerfing. I think this is evidenced by several major issuers putting out 1.5% cards AFTER the double cash came out. I think they've decided that that's it.

I do slightly disagree with the idea that they can't afford to give any higher rewards, but I don't think they need to afford it. Right now...Cap1, Barclays, Chase all have 1.5% cards. Chase and Barclays both introduced the cards after the Citi DC. To me, that's a firm indication that that's gonna be it most likely. I think they earn enough on interest from enough customers that they could increase the rewards earning if they wanted. If I were them, I wouldn't either.
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: May 2016 Garden Club/Cult

Postby kdm31091 » Sun May 22, 2016 7:11 am

I don't know we will see many cards nerfed per se (as most cards at this point that have not been nerfed in the cash back space feature 3% or 2% on a few things and mostly 1% otherwise), but I do think the wave of 1.5% cards is saying something. I do agree that 1.5% is probably "it" and we shouldn't be expecting any game changers.

Tubpbs
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Re: May 2016 Garden Club/Cult

Postby Tubpbs » Sun May 22, 2016 8:47 am

kdm31091 wrote:I don't know we will see many cards nerfed per se (as most cards at this point that have not been nerfed in the cash back space feature 3% or 2% on a few things and mostly 1% otherwise), but I do think the wave of 1.5% cards is saying something. I do agree that 1.5% is probably "it" and we shouldn't be expecting any game changers.


Yea. It's probably it. Maybe some other creative products or some cards with real benefits that can be used that aren't $450 a year or maybe something like the Blispay with integrated short term financing from a larger institution... Last one seems unlikely.

I think they can offer greater rewards and still make plenty of money, but I just don't see why they would. The discount they get isn't going up any and they've all stabalized with their highest cash back offering it seems. No point in continuing to bid against yourself...
Amex - BCP, Platinum, Business Gold
BoA - BankAmericard Cash Rewards
Chase - Freedom, CSP, RC, Ink Plus
Citi - DC, Prestige
Discover - It



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