Credit card reform, advice needed

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mountaindewvoltage
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Re: Credit card reform, advice needed

Postby mountaindewvoltage » Mon Feb 13, 2017 12:20 pm

CarefulBuilder14 wrote:
mountaindewvoltage wrote:So what is the TYPR points worth when redeemed for TruBlue points

I'm not that familiar with the TrueBlue program's strengths and weaknesses, but 1000 TYs become only 800 TrueBlue points, so the importance of getting more value per TrueBlue point is increased.

I use my TYs for 1.6 cpp on AA revenue flights, but that's a Prestige-only option and will expire in about 5 months. If I keep the card, I have no idea what I'll do with TY points after that. I spend a lot on the card, but after several AA revenue flight redemptions, I don't have many TYs left to do much with.


Typical TB points is 1.4-1.7 cents per 1 MR points from what I've seen, not sure about ThankYou points though.

Prestige would be a no-brainer if I traveled 3 or 4 times a year, and obviously I'd drop everything else with that $450/year fee, not waived the first year.


mountaindewvoltage
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Re: Credit card reform, advice needed

Postby mountaindewvoltage » Mon Feb 13, 2017 12:39 pm

I can say I'm about 5 seconds from dropping American Express.

1) Your points are on a one month lag.

2) I requested a credit reimbursement check for a negative balance a week and a half ago and still don't have it. Nothing like waiting forever for $375.00. Why aren't we able to just ACH it to a bank account? Oh that's right, AMEX always has to be different.

AMEX is so quick to collect their money you make for them, but when it comes time to pay their dues, they take their sweet ass time.

mountaindewvoltage
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Re: Credit card reform, advice needed

Postby mountaindewvoltage » Mon Feb 13, 2017 2:30 pm

Called Citi to request a product change, they said I have to wait a year. Guy was nice on the phone but damn, they could've made a better effort to keep me by making an exception. Oh well, no hard feelings, I lied and told him I'd apply for the HHonors card soon, I probably won't though.

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CarefulBuilder14
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Re: Credit card reform, advice needed

Postby CarefulBuilder14 » Mon Feb 13, 2017 3:19 pm

So what have you actually closed?
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

mountaindewvoltage
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Re: Credit card reform, advice needed

Postby mountaindewvoltage » Mon Feb 13, 2017 3:23 pm

CarefulBuilder14 wrote:So what have you actually closed?


A worthless Diamond Preferred card with a $2,250 limit.

One AMEX is definitely going to get slashed and I have a feeling it's gonna be the revolving Blue Cash Everyday. I might take you up on your suggestion and slash Empower as well, but I have to think hard about that one.

So what'll be left is Discover at 3k for balance transfers; essentially a credit card account used for small, low or no interest personal loans over a short period of time, but Discover will make money off the interest/transfer fee so they shouldn't object to that. Second, NavyFed Cash rewards simply because it's NavyFed (1.5% cash back, to make purchases if I need to carry a balance, transfer to Discover by way of BT) and my highest limit at $5,000. Amazon Prime credit card, to use on Amazon and everywhere else, and then AMEX PRG as a driver for converting to points.

So what I'm trying to say is for groceries, everyday (typical 1% purchases), and risky purchases --- I'll stick with the PRG. I like how I'm not allowed to have debt with it, and transferring to partners to get $.01+ is great for rewards value on those purchases. For gas, restaurants, places that don't take AMEX in the earlier categories, Amazon, and drug stores --- The Chase Amazon card will be used, and that's it. I'd say the fat will be extremely trimmed.

Although I forgot about my Amazon Prime store card, but that's an easy keeper for wanting to finance a purchase at 0% for 6, 12, or 24 months anyways, so that's a no-brainer, and if I want to finance longer, Discover balance transfer will be around still.

Since my Discover and Amazon Store (Sync) card won't be used physically at a merchant, my wallet will only have a debit card or two, PRG, Chase Amazon, NavyCash Rewards, and that's it.

kdm31091
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Re: Credit card reform, advice needed

Postby kdm31091 » Mon Feb 13, 2017 6:46 pm

mountaindewvoltage wrote:Called Citi to request a product change, they said I have to wait a year. Guy was nice on the phone but damn, they could've made a better effort to keep me by making an exception. Oh well, no hard feelings, I lied and told him I'd apply for the HHonors card soon, I probably won't though.


Not everything is able to be overridden. The 1 year thing is a hard coded policy in the system AFAIK, because nobody gets around it. Citi just requires everyone to wait a year before a product change. The CARD act prohibits annual fee increases/changes in the first year of card membership so that makes certain PCs impossible, and presumably Citi just finds it easier to apply it as a blanket policy regardless of annual fee or not. That way, no one can accidentally skate around the CARD act.

Regardless, I think closing the Diamond was a good move. It's a pretty worthless card.

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CarefulBuilder14
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Re: Credit card reform, advice needed

Postby CarefulBuilder14 » Mon Feb 13, 2017 6:57 pm

kdm31091 wrote:
mountaindewvoltage wrote:Called Citi to request a product change, they said I have to wait a year. Guy was nice on the phone but damn, they could've made a better effort to keep me by making an exception. Oh well, no hard feelings, I lied and told him I'd apply for the HHonors card soon, I probably won't though.


Not everything is able to be overridden. The 1 year thing is a hard coded policy in the system AFAIK, because nobody gets around it. Citi just requires everyone to wait a year before a product change. The CARD act prohibits annual fee increases/changes in the first year of card membership so that makes certain PCs impossible, and presumably Citi just finds it easier to apply it as a blanket policy regardless of annual fee or not. That way, no one can accidentally skate around the CARD act.

Regardless, I think closing the Diamond was a good move. It's a pretty worthless card.

Hadn't that account (the closed DP) once been a DC or TY Preferred or something? How old was the account? Were you trying to PC it to DC or TY Premier?
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

mountaindewvoltage
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Re: Credit card reform, advice needed

Postby mountaindewvoltage » Mon Feb 13, 2017 11:31 pm

CarefulBuilder14 wrote:
kdm31091 wrote:
mountaindewvoltage wrote:Called Citi to request a product change, they said I have to wait a year. Guy was nice on the phone but damn, they could've made a better effort to keep me by making an exception. Oh well, no hard feelings, I lied and told him I'd apply for the HHonors card soon, I probably won't though.


Not everything is able to be overridden. The 1 year thing is a hard coded policy in the system AFAIK, because nobody gets around it. Citi just requires everyone to wait a year before a product change. The CARD act prohibits annual fee increases/changes in the first year of card membership so that makes certain PCs impossible, and presumably Citi just finds it easier to apply it as a blanket policy regardless of annual fee or not. That way, no one can accidentally skate around the CARD act.

Regardless, I think closing the Diamond was a good move. It's a pretty worthless card.

Hadn't that account (the closed DP) once been a DC or TY Preferred or something? How old was the account? Were you trying to PC it to DC or TY Premier?


Well first I asked about the HHonors card with no AF, but I had to explain to the rep what it was about 15 times, and then he began reading a disclosure for the annual fee before I stopped him and had to explain it again... And then we finally were on the same page before he stopped and said it needs a minimum 4k credit line (mine was $2,250), at which then I asked for a supervisor because I could hardly understand a word the guy was saying, so he nicely transferred me to a supervisor based in Florida who could actually speak English. I find it pretty stupid that Citi requires a 4k limit for a no AF Hilton HHonors card but only a 2k minimum credit line for a card like the Prestige. Anyways we couldn't work out a deal so the card was closed, no harm, no foul, although I'll regret losing business with a company that has such a simple, automated "price rewind" feature and payments that post instantly. I know how conservative Citi is, so chances are I'll have to wait a couple of years before opening another credit card account with them.

It was once a TY Preferred, but that card is useless to me too. 2x on dining and entertainment with no travel benefits, and 1x on everything else... Useless.

Can't say I'll miss their 99.9% India based customer service. With that said they could've offered me a retention offer or something, like $200 bonus if I spend $3,000 on the card within the next three months or something like that.

mountaindewvoltage
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Re: Credit card reform, advice needed

Postby mountaindewvoltage » Tue Feb 14, 2017 2:11 am

I wonder if Empower would be willing to shift my $1,000 credit limit with them to my open line of credit with a $100 limit, making the total $1,100.

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CarefulBuilder14
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Re: Credit card reform, advice needed

Postby CarefulBuilder14 » Tue Feb 14, 2017 3:53 pm

Whatever you decide on, I'd not add anything else for a bit. Opening and closing accounts frequently can become a headache unless it's part of a particular plan...and your credit plans change often.
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



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