August 2016 Garden Club/Cult

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Tubpbs
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Re: August 2016 Garden Club/Cult

Postby Tubpbs » Sun Aug 07, 2016 3:11 pm

CarefulBuilder14 wrote:http://ficoforums.myfico.com/t5/Credit-Cards/Livid-at-Citi-EO/td-p/4707168

Why I don't go seeking CLIs I don't need...

*Also...how long do you think it will be until we see a Pokemon cobranded US credit card? I've not tried the game...yet, at least...but people really seem obsessed. Pokemon credit and prepaid cards already exist in Japan. Imagine a rewards program where 10,000 points buys a Pikachu.


Agreed. But it's just like everything else...I have always had at least one inquiry if not more at any given time that I didn't authorize. In January I moved and set up new cable and Internet and all that. They asked me if I wanted to pay a deposit or have a credit inquiry. I didn't want any inquiries at the time so I paid the deposit. They pulled Equifax anyway. I didn't even bother to call them. It will never go anywhere...except in two years when it falls off my report.

But I know very well that even when you call a major bank and a senior level rep promises they won't do a hard pull, you still have a chance of ending up with one...

But, like you said, that's why you don't go around asking for CLIs you don't need AND THEN calling EO for a second shot at it...CLI is likely never going to have a successful recon. It's too much of an in between transaction. Anyone reviewing will just say "Eh. Just try again in 6 months and we'll see. I'm sticking with the computer". It's not a denial for a new account where they could see the theoretical benefit to extending you credit. If they don't approve a CLI the likelihood of you spending the same amount of money on the card is very high (except for those who will not out of spite or the rare situation where you can't buy something because it's larger than your CL).

Everything happens for a reason. OP didn't learn anything unfortunately, though I would acknowledge the overall sanity of the thread...but the last post indicates there were also several replies removed because they violated the rules so who really knows...there was more reason than usual on this thread though.
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kdm31091
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Re: August 2016 Garden Club/Cult

Postby kdm31091 » Sun Aug 07, 2016 3:58 pm

Another example of EO abuse. People won't rest until all avenues to contact EO are shut down.

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CarefulBuilder14
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Re: August 2016 Garden Club/Cult

Postby CarefulBuilder14 » Sun Aug 07, 2016 7:38 pm

kdm31091 wrote:Another example of EO abuse. People won't rest until all avenues to contact EO are shut down.

It is kind of poetic justice for EO misuse...
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kdm31091
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Re: August 2016 Garden Club/Cult

Postby kdm31091 » Tue Aug 09, 2016 9:36 am

Another thing that cracks me up is the obsession with CUs for the wrong reason. Don't get me wrong, CUs can be great and can provide certain things no major bank can/will. But on MF you get the feeling people love CUs because they've exhausted their options with the regular banks because of aggressive credit seeking, so they promote CUs instead, since they're less likely to do AA.

IMO, it makes little to no sense to be recommending things for these reasons to a "newbie". A newbie shouldn't learn to aggressively seek credit anyway, so the AA concern is invalid. You're also only recommending CU cards because you add 30 cards a year and major banks are tired of it. Again, wrong reasoning.

Although people get excited when they find backdoor ways into unions, I just (mostly) don't get it. None of Navy's (for example) cards offer anything you can't find elsewhere without having to "sneak in" or do anything like that. The lower APRs as compared to bank cards are nice, but if you are planning to carry a balance, you should go for a long 0% offer anyway.

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CarefulBuilder14
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Re: August 2016 Garden Club/Cult

Postby CarefulBuilder14 » Tue Aug 09, 2016 10:14 am

kdm31091 wrote:Another thing that cracks me up is the obsession with CUs for the wrong reason. Don't get me wrong, CUs can be great and can provide certain things no major bank can/will. But on MF you get the feeling people love CUs because they've exhausted their options with the regular banks because of aggressive credit seeking, so they promote CUs instead, since they're less likely to do AA.

IMO, it makes little to no sense to be recommending things for these reasons to a "newbie". A newbie shouldn't learn to aggressively seek credit anyway, so the AA concern is invalid. You're also only recommending CU cards because you add 30 cards a year and major banks are tired of it. Again, wrong reasoning.

Although people get excited when they find backdoor ways into unions, I just (mostly) don't get it. None of Navy's (for example) cards offer anything you can't find elsewhere without having to "sneak in" or do anything like that. The lower APRs as compared to bank cards are nice, but if you are planning to carry a balance, you should go for a long 0% offer anyway.

Or how everyone supposedly needs at least three credit unions.
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Price rewind: Costco
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CarefulBuilder14
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Re: August 2016 Garden Club/Cult

Postby CarefulBuilder14 » Fri Aug 12, 2016 4:12 pm

CarefulBuilder14 wrote:If you wait until 1/1/2017, then you'd have Admirals access for 6.75 months...and only one $250 credit.

So if you're set on not apping until 2017, then passing on it might be reasonable. My point was more that most of the nerfing won't kick in for 11.75 months, so a bonus hunter who went for it today could still get a good year from the card.

I don't know exactly what Citi's guidelines are for denials when then see very recent inquiries.

I do need to take a closer look at the alliance partners and award charts of TY transfer partners. I think the nerf of the 1.6 cpp AA option took effect immediately (someone, please let me know if I'm wrong). I have no good plan for my TYs atm.

The above is wrong. Existing Prestige customers, and people who open the card before the end of this month, keep the benefits until 7/23/17.

Starting 9/1/16, new customers will not get the benefits...so someone who gets the card 1/1/17 won't have Admirals lounge access at all.

So if anyone wants to apply...even with the reduced intro bonus and nerfing in 11 months...do it soon.

I used up my Freedom bonus cap. I think 43 days is a personal record.
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yfan
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Re: August 2016 Garden Club/Cult

Postby yfan » Fri Aug 12, 2016 11:38 pm

Unfortunately I can't be in the garden club this month. I've been in the process of buying a home and just received news today about final loan approval. :cool: :cheers:

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Re: August 2016 Garden Club/Cult

Postby Nixon » Sat Aug 13, 2016 5:01 am

yfan wrote:Unfortunately I can't be in the garden club this month. I've been in the process of buying a home and just received news today about final loan approval. :cool: :cheers:

Didjaapplyyet?!

:cheers:
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CarefulBuilder14
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Re: August 2016 Garden Club/Cult

Postby CarefulBuilder14 » Sat Aug 13, 2016 3:09 pm

yfan wrote:Unfortunately I can't be in the garden club this month. I've been in the process of buying a home and just received news today about final loan approval. :cool: :cheers:

Which route did you take?
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

kdm31091
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Re: August 2016 Garden Club/Cult

Postby kdm31091 » Sat Aug 13, 2016 6:50 pm

yfan wrote:Unfortunately I can't be in the garden club this month. I've been in the process of buying a home and just received news today about final loan approval. :cool: :cheers:


Congrats! Staying strong in the credit card garden, I'm sure, helped you out tremendously. You've always been true to your goals.



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