Re-organizing cards as spring cleaning

For just about anything you want to get off your chest about credit cards.
Callmedory
Gold Member
Gold Member
 
Posts: 43
Joined: Wed Dec 25, 2013 7:35 pm
Location: California

Re: Re-organizing cards as spring cleaning

Postby Callmedory » Fri May 13, 2016 9:09 am

I don’t even know what “5/24 friendly” means. Sorry.


TXviking
Centurion Member
Centurion Member
 
Posts: 263
Joined: Fri Apr 15, 2016 5:46 pm
Location: Palm Beach, Florida

Re: Re-organizing cards as spring cleaning

Postby TXviking » Fri May 13, 2016 10:08 am

Callmedory wrote:I don’t even know what “5/24 friendly” means. Sorry.


Means you applied for fewer than 5 credit card accounts in the past 24 months. Chase has a policy of automatically denying applications from people who have more applications than that, even if they're spread across multiple lenders.

JonE
Centurion Member
Centurion Member
 
Posts: 335
Joined: Sat Jan 24, 2015 9:55 am
Location: Denver

Re: Re-organizing cards as spring cleaning

Postby JonE » Fri May 13, 2016 10:30 am

TXviking wrote:
Callmedory wrote:I don’t even know what “5/24 friendly” means. Sorry.


Means you applied for fewer than 5 credit card accounts in the past 24 months. Chase has a policy of automatically denying applications from people who have more applications than that, even if they're spread across multiple lenders.


And store cards are not exempt from that.
Current Cards: Chase Freedom, Discover IT
Future: TBD

Tubpbs
Centurion Member
Centurion Member
 
Posts: 827
Joined: Mon Oct 19, 2015 2:08 pm

Re: Re-organizing cards as spring cleaning

Postby Tubpbs » Fri May 13, 2016 10:51 am

JonE wrote:
TXviking wrote:
Callmedory wrote:I don’t even know what “5/24 friendly” means. Sorry.


Means you applied for fewer than 5 credit card accounts in the past 24 months. Chase has a policy of automatically denying applications from people who have more applications than that, even if they're spread across multiple lenders.


And store cards are not exempt from that.


Applications or Accounts??
Amex - BCP, Platinum, Business Gold
BoA - BankAmericard Cash Rewards
Chase - Freedom, CSP, RC, Ink Plus
Citi - DC, Prestige
Discover - It

Callmedory
Gold Member
Gold Member
 
Posts: 43
Joined: Wed Dec 25, 2013 7:35 pm
Location: California

Re: Re-organizing cards as spring cleaning

Postby Callmedory » Fri May 13, 2016 11:48 am

We have enough cards. I don’t think we need more.

I did ask CSP about raising our CL. They said it would be a hard pull. I didn’t need it that bad, so I declined.

yfan
Centurion Member
Centurion Member
 
Posts: 378
Joined: Wed Jul 09, 2014 5:55 pm
Location: San Jose CA

Re: Re-organizing cards as spring cleaning

Postby yfan » Fri May 13, 2016 4:35 pm

Callmedory wrote:The card may act as your membership card. I was told it would, but maybe that was executive only? If it does, you'll need it for gas and to get in and for check out.

Just because the Citi Visa will work as your membership card doesn't mean that your regular membership card won't work.

I am not sure why the CSP would be a superior card for Costco purchases though. The Citi Costco Visa will offer 4% back on Costco gas and 2% back on warehouse and online Costco purchases. Even if you assume a point value of 2 cpp for the CSP, they are only matching the Citi Costco Visa on most Costco purchases and not nearly matching the gas purchases.

User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 3746
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Re: Re-organizing cards as spring cleaning

Postby CarefulBuilder14 » Fri May 13, 2016 6:26 pm

yfan wrote:
Callmedory wrote:The card may act as your membership card. I was told it would, but maybe that was executive only? If it does, you'll need it for gas and to get in and for check out.

Just because the Citi Visa will work as your membership card doesn't mean that your regular membership card won't work.

I am not sure why the CSP would be a superior card for Costco purchases though. The Citi Costco Visa will offer 4% back on Costco gas and 2% back on warehouse and online Costco purchases. Even if you assume a point value of 2 cpp for the CSP, they are only matching the Citi Costco Visa on most Costco purchases and not nearly matching the gas purchases.

If OP doesn't spend enough at Costco to merit an Executive membership, it would take a long time for 2% and 4% spending to make up for the fact there's no signup/minimum spend bonus.
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

TXviking
Centurion Member
Centurion Member
 
Posts: 263
Joined: Fri Apr 15, 2016 5:46 pm
Location: Palm Beach, Florida

Re: Re-organizing cards as spring cleaning

Postby TXviking » Sat May 14, 2016 9:01 am

CarefulBuilder14 wrote:
yfan wrote:
Callmedory wrote:The card may act as your membership card. I was told it would, but maybe that was executive only? If it does, you'll need it for gas and to get in and for check out.

Just because the Citi Visa will work as your membership card doesn't mean that your regular membership card won't work.

I am not sure why the CSP would be a superior card for Costco purchases though. The Citi Costco Visa will offer 4% back on Costco gas and 2% back on warehouse and online Costco purchases. Even if you assume a point value of 2 cpp for the CSP, they are only matching the Citi Costco Visa on most Costco purchases and not nearly matching the gas purchases.

If OP doesn't spend enough at Costco to merit an Executive membership, it would take a long time for 2% and 4% spending to make up for the fact there's no signup/minimum spend bonus.


Can't speak for the OP, but for me this is pretty easy. I buy most of my gas at Costco. That doesn't qualify for the Executive cash back, but it does qualify for the gas rebate -- which is increasing to 4% cash back with Citi. That's $24 per month for me right there (based on an average spend of around $600/mo on fuel.) Plus the 3% cash back on travel and dining, although it sounds like there may be some restrictions on which travel purchases qualify. The Citi Costco card is starting to look more useful than I thought at first, and not just for purchases at Costco.

Callmedory
Gold Member
Gold Member
 
Posts: 43
Joined: Wed Dec 25, 2013 7:35 pm
Location: California

Re: Re-organizing cards as spring cleaning

Postby Callmedory » Sat May 14, 2016 10:32 am

Where I used to live, I’d put on 300+ miles/week, husband about that much. Here, where we live now? My almost-10yo car has 36000 miles. That’s it.

I’ll be checking to see what’s best for us, but I appreciate your spelling out some of the benefits.

Tubpbs
Centurion Member
Centurion Member
 
Posts: 827
Joined: Mon Oct 19, 2015 2:08 pm

Re: Re-organizing cards as spring cleaning

Postby Tubpbs » Sat May 14, 2016 12:27 pm

Texas Viking - how do you spend so much on gas a month? What are you doing in that vehicle(s)? Monster trucks? Race cars?

That's a lot of gas spend. 4% is good for you probably with nothing else...
Amex - BCP, Platinum, Business Gold
BoA - BankAmericard Cash Rewards
Chase - Freedom, CSP, RC, Ink Plus
Citi - DC, Prestige
Discover - It



Return to “General Credit Card Talk”

Who is online

Users browsing this forum: No registered users and 1 guest