August 2016 Garden Club/Cult

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

Postby yfan » Sat Aug 13, 2016 7:00 pm

CarefulBuilder14 wrote:
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?

Shopped a couple of lenders and brokers and went with the one with the best rate, which also happens to be the one who was the least self-aggrandizing. We met a broker who thought his crap didn't stink AND offered a higher rate. On the real estate agent front, we ended up having to fire our first agent, but the second one worked out amazingly.

Love the home I'm buying. Not huge, not small, just right. It's a townhouse in a small community, so it's a good opportunity to get involved on the Condo board.


yfan
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Re: August 2016 Garden Club/Cult

Postby yfan » Sat Aug 13, 2016 7:05 pm

kdm31091 wrote:
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.

Thanks! And oh yes, it helped quite a bit. That and slowly but surely adding to my savings. Our offer won not because we were the highest bid but because we were very well qualified with a full 20% down payment and enough reserves that lenders were happy. And this is the Silicon Valley market. Stayed within budget still. And I'm planing on making small extra payments monthly to cut down the life of the mortgage too.

kdm31091
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Re: August 2016 Garden Club/Cult

Postby kdm31091 » Tue Aug 16, 2016 4:49 pm

A bunch of people applied for cards from some random bank in Arkansas (Fab&T or something), but now they are pulling back the approvals and people are fighting to get the HPs removed.

Some people will just apply for anything and everything and despite the fact that these things happen over and over people don't learn. They just keep going in for more and then complaining when it goes south. If there's a bank you've previously never heard of and suddenly people are getting "amazing" approvals you should be stopping to question it, not just jumping in.

Beyond that looks like they're just standard 1% cards so not sure what the big fuss is. Some people are just really addicted to applying I guess, whether it's a beneficial card or not. I mean, how many "just in case" large limit cards does one person need?

JonE
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Re: August 2016 Garden Club/Cult

Postby JonE » Tue Aug 16, 2016 10:03 pm

I had considered keeping the Ally bank account around as a backup with the new CU account (which I haven't opened yet), but it looks like Discover Bank is the much better deal since you get .10 back for every transaction you make (unless I read something wrong there.)
Current Cards: Chase Freedom, Discover IT
Future: TBD

JonE
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Re: August 2016 Garden Club/Cult

Postby JonE » Tue Aug 16, 2016 11:30 pm

kdm31091 wrote:A bunch of people applied for cards from some random bank in Arkansas (Fab&T or something), but now they are pulling back the approvals and people are fighting to get the HPs removed.

Some people will just apply for anything and everything and despite the fact that these things happen over and over people don't learn. They just keep going in for more and then complaining when it goes south. If there's a bank you've previously never heard of and suddenly people are getting "amazing" approvals you should be stopping to question it, not just jumping in.

Beyond that looks like they're just standard 1% cards so not sure what the big fuss is. Some people are just really addicted to applying I guess, whether it's a beneficial card or not. I mean, how many "just in case" large limit cards does one person need?


The thing about that is, if they didn't have so many cards, they'd probably have some pretty large limits within a reasonable amount like 3-4 cards. That's where I'd like to wind up, with that many cards with my lowest being around $10k. Not sure I'd want to go TOO high, but 3-4 $10k+ cards wouldn't be bad.
Current Cards: Chase Freedom, Discover IT
Future: TBD

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Vattené
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Re: August 2016 Garden Club/Cult

Postby Vattené » Wed Aug 17, 2016 11:47 am

kdm31091 wrote:Beyond that looks like they're just standard 1% cards so not sure what the big fuss is. Some people are just really addicted to applying I guess, whether it's a beneficial card or not. I mean, how many "just in case" large limit cards does one person need?

They'd be better off socking money away in a "just in case" savings account. Sure, having some credit limit beyond what you'd expect to use on a regular basis is nice and helpful in emergencies (it's a means to pay for something or access to cash if needed quickly and before you can access the savings that's actually meant to fund it), but it's not like the higher your CLs the more prepared you are for emergencies. I hope they are actually saving money, but I doubt it judging by how they talk about BTs and cash advances. Despite all the talk about needing it for emergencies, I suspect it's just an excuse to apply. They way some talk, it's like they treat a CL as an income source for bad times. That's no way to prepare for financial hardship!
-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: August 2016 Garden Club/Cult

Postby CarefulBuilder14 » Wed Aug 24, 2016 3:09 pm

Is anyone considering an app for Prestige in a buzzer-beater effort to get a year of Admirals access?

I've not decided what I'll be changing among my travel cards, or when.
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
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Re: August 2016 Garden Club/Cult

Postby TXviking » Wed Aug 24, 2016 10:18 pm

CarefulBuilder14 wrote:Is anyone considering an app for Prestige in a buzzer-beater effort to get a year of Admirals access?

I've not decided what I'll be changing among my travel cards, or when.


Not me. That perk is not worth an inquiry and an AAoA drop, and on general principle, I don't like rewarding issuers for nerfing cards. Apping for a card where nerfing has been announced would violate that principle.

Nixon
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Re: August 2016 Garden Club/Cult

Postby Nixon » Thu Aug 25, 2016 12:25 am

TXviking wrote:
CarefulBuilder14 wrote:Is anyone considering an app for Prestige in a buzzer-beater effort to get a year of Admirals access?

I've not decided what I'll be changing among my travel cards, or when.


Not me. That perk is not worth an inquiry and an AAoA drop, and on general principle, I don't like rewarding issuers for nerfing cards. Apping for a card where nerfing has been announced would violate that principle.


$800+ of airfare and $500 addtl in travel credit to boot in exchange for the annual fee.
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kdm31091
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Re: August 2016 Garden Club/Cult

Postby kdm31091 » Fri Aug 26, 2016 9:07 pm

Someone on MF mentioned having 83 inquiries. That is downright disturbing and scary. I have 20 on EX and feel like I have excessive inquiries. 83? Seriously?



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