Stupid questions on MF

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oldsoldier
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Re: Stupid questions on MF

Postby oldsoldier » Thu Jul 14, 2016 9:28 am

This site has been far more informative then MF. less then two years ago I couldn't even rent a car without them trying to draw blood. That was when I found this site. There wasn't a lot BS coming from folks here just great information. Now my CS is over 800 I can relax and enjoy my work lol. That other site is purely entertainment these days.
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CarefulBuilder14
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Re: Stupid questions on MF

Postby CarefulBuilder14 » Thu Jul 14, 2016 10:52 am

Tubpbs wrote:
To My Credit wrote:
MemberSince99 wrote:or the classic what are my odds of approval for csp
I don't think that's a stupid question as much as a very hard question to answer.


It's a question no one can answer at all AND the person posing the question has the absolute highest chance of determining an answer. So, I think it does make it a very stupid question. Or at least it's very stupid to ask it. Not sure if there's a difference.

When average people see so many ads for services that provide various credit scores, it's easy for them to assume that the score matters more than it really does. They don't know how complicated underwriting criteria can be, and they've never heard of the pulls database. They probably don't know which issuer prequals are more reliable than others (if they've heard of prequals). Cards are advertised heavily, but an issuer doesn't really suffer if they turn town an applicant, whereas applicants get HPs (which, they may have learned, they should generally keep to a minimum). It's natural for someone to want an independent opinion.

I'm with TMC on this. It's more of a hard-to-answer question than an inherently stupid one (at least the first time someone asks it). We have to keep in mind that a lot of what we know is not widely known.
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To My Credit
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Re: Stupid questions on MF

Postby To My Credit » Thu Jul 14, 2016 2:09 pm

CarefulBuilder14 wrote:When average people see so many ads for services that provide various credit scores, it's easy for them to assume that the score matters more than it really does. They don't know how complicated underwriting criteria can be, and they've never heard of the pulls database. They probably don't know which issuer prequals are more reliable than others (if they've heard of prequals). Cards are advertised heavily, but an issuer doesn't really suffer if they turn town an applicant, whereas applicants get HPs (which, they may have learned, they should generally keep to a minimum). It's natural for someone to want an independent opinion.

I'm with TMC on this. It's more of a hard-to-answer question than an inherently stupid one (at least the first time someone asks it). We have to keep in mind that a lot of what we know is not widely known.
Exactly what I wanted to say.
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kdm31091
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Re: Stupid questions on MF

Postby kdm31091 » Thu Jul 14, 2016 5:06 pm

The "crystal ball" type of questions can be very annoying, especially "should I close this card?". How can someone on the outside tell you how useful a card is for you? It's not rocket science; do you get use out of it or not? If you're thinking about closing it the answer is probably not. I just think people hesitate to close "popular" cards for no other reason other than them being popular.

Also, the answers just turn into a ping pong game. Those who have the card say "no! Just SD it! It's a wonderful card" and others just say "do what you want". So again, what's the point?

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Re: Stupid questions on MF

Postby Nixon » Thu Jul 14, 2016 6:56 pm

kdm31091 wrote:The "crystal ball" type of questions can be very annoying, especially "should I close this card?". How can someone on the outside tell you how useful a card is for you? It's not rocket science; do you get use out of it or not? If you're thinking about closing it the answer is probably not. I just think people hesitate to close "popular" cards for no other reason other than them being popular.

Also, the answers just turn into a ping pong game. Those who have the card say "no! Just SD it! It's a wonderful card" and others just say "do what you want". So again, what's the point?

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Re: Stupid questions on MF

Postby Tubpbs » Thu Jul 14, 2016 7:00 pm

kdm31091 wrote:The "crystal ball" type of questions can be very annoying, especially "should I close this card?". How can someone on the outside tell you how useful a card is for you? It's not rocket science; do you get use out of it or not? If you're thinking about closing it the answer is probably not. I just think people hesitate to close "popular" cards for no other reason other than them being popular.

Also, the answers just turn into a ping pong game. Those who have the card say "no! Just SD it! It's a wonderful card" and others just say "do what you want". So again, what's the point?


That's why I'm sticking with stupid.

And it's generally / most likely not their first time asking.
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Re: Stupid questions on MF

Postby takeshi » Fri Jul 15, 2016 8:26 am

Ignorant is the word.

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Re: Stupid questions on MF

Postby yfan » Fri Jul 15, 2016 9:53 am

kdm31091 wrote:"What will I do for dining if Synch shuts me down!? My marvel card is my dining go to!" ... Guess you'll just never eat again.

Ahahaha! This made literally laugh out loud. :D

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Re: Stupid questions on MF

Postby TXviking » Mon Jul 18, 2016 4:20 pm

I think some people are forgetting that a lot of people wind up on this web site because they're not credit card experts and are looking for advice. That's equally true for MF, FT etc. And while underwriting criteria are hard to predict (and guarded like trade secrets by the issuers,) there are general trends, there are the collective experiences of people on this board and others, and there are known policies that have a predictable impact (such as Chase's infamous 5/24, or the AmEx once-per-lifetime signup bonus restriction.)

Given what some of us have learned from doing our own research or just perusing boards out of idle curiosity, we can often make a pretty good educated guess at whether someone will qualify for a card or not, especially if they include some basic information about their financial situation and credit file. We may not be right 100% of the time, but we'll be right often enough for the advice to be valuable to someone who's on the fence about a credit decision, IMHO.

The same situation applies to "should I get card X or card Y?" Often, those threads include a few replies along the lines of "only you can make that decision." But equally as often, they include valuable advice that help sway someone in one direction or the other. I posted one of these myself not too long ago (do I switch from Discover Open Road to Discover IT?) and one particularly good piece of advice in that thread pretty much sealed that decision for me. New card on its way.

Takeshi is right when he says these questions are often ignorant, rather than stupid. But the word "ignorant" generally carries a negative implication that someone is WILLFULLY ignorant. The fact that someone comes on here asking an 'ignorant' question probably means they're genuinely seeking to educate themselves. That should be encouraged, not shot down with derision over a 'stupid question'.

Of course, these aren't my boards and I'm not an admin, so this is only my own opinion. But I kind of feel like the old adage applies here: "If you have nothing nice to say, say nothing at all." If someone asks a question you think is ignorant, stupid or both, just abstain from responding to it. Not only will that save you some typing, but it will avoid creating an atmosphere where people are afraid to post lest they be ridiculed in public. And isn't that friendlier atmosphere one of the things that sets us apart from the likes of MF?

Just my 2/100s of a :money:.

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Re: Stupid questions on MF

Postby JonE » Tue Jul 19, 2016 11:29 am

TXviking wrote:I think some people are forgetting that a lot of people wind up on this web site because they're not credit card experts and are looking for advice. That's equally true for MF, FT etc. And while underwriting criteria are hard to predict (and guarded like trade secrets by the issuers,) there are general trends, there are the collective experiences of people on this board and others, and there are known policies that have a predictable impact (such as Chase's infamous 5/24, or the AmEx once-per-lifetime signup bonus restriction.)

Given what some of us have learned from doing our own research or just perusing boards out of idle curiosity, we can often make a pretty good educated guess at whether someone will qualify for a card or not, especially if they include some basic information about their financial situation and credit file. We may not be right 100% of the time, but we'll be right often enough for the advice to be valuable to someone who's on the fence about a credit decision, IMHO.

The same situation applies to "should I get card X or card Y?" Often, those threads include a few replies along the lines of "only you can make that decision." But equally as often, they include valuable advice that help sway someone in one direction or the other. I posted one of these myself not too long ago (do I switch from Discover Open Road to Discover IT?) and one particularly good piece of advice in that thread pretty much sealed that decision for me. New card on its way.

Takeshi is right when he says these questions are often ignorant, rather than stupid. But the word "ignorant" generally carries a negative implication that someone is WILLFULLY ignorant. The fact that someone comes on here asking an 'ignorant' question probably means they're genuinely seeking to educate themselves. That should be encouraged, not shot down with derision over a 'stupid question'.

Of course, these aren't my boards and I'm not an admin, so this is only my own opinion. But I kind of feel like the old adage applies here: "If you have nothing nice to say, say nothing at all." If someone asks a question you think is ignorant, stupid or both, just abstain from responding to it. Not only will that save you some typing, but it will avoid creating an atmosphere where people are afraid to post lest they be ridiculed in public. And isn't that friendlier atmosphere one of the things that sets us apart from the likes of MF?

Just my 2/100s of a :money:.


And to a certain extent, I agree. However, most of the questions on MF are asked by the same people who may or may not be happy with the answer they get (usually No, because the card is not a good fit) and go ahead an apply anyway. It's not so much the questions, that I can easily understand, it's when they heed bad advice, or don't take good advice and do what they want anyway. So why the hell did they ask the questions anyway?

But it's not just MF that's the worst offender, there are places like CreditBoards that make myfico look like the minimalists club. The Synchrony threads at MF are the latest dumpster fire. A person has 30 cards in their profile, and wonders why their Synchrony accounts are being frozen or targeted for closure.

I have, now, 3 synchrony cards and that's all I want until I'm done rebuilding. 5-10 synch cards at once is beyond overkill.
Wallet: Chase Freedom, Discover IT
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