Excellent credit is worth the effort.

For just about anything you want to get off your chest about credit cards.
FutureBillionaire
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Postby FutureBillionaire » Thu Feb 21, 2013 3:41 pm

TheLethargicAge wrote:I couldn't agree more. If only my ex-wife knew that.

Although I must say I'm disappointed in you. I was under the impression that your credit score was 800+ (j/k!)


Ha! By the end of March, I think I will be close. I should have only card reporting with very low utilization. Right now, I have 4 cards reporting balances. Knocking down that debt will boost my score. I'm paying interest on the first credit card I received after I improved my credit. It's 9% and I get a partial interest refund through my credit union. Even after I improved my credit, I wasn't a rewards card game player until a few years later.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape


FutureBillionaire
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Postby FutureBillionaire » Thu Feb 21, 2013 4:47 pm

I agree that all debt isn't bad debt. I think it is ok to rotate debt if you aren't paying interest and can get better benefit with your cash elsewhere.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape

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Snowman
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Postby Snowman » Thu Feb 21, 2013 7:31 pm

Like FB said, credit is a powerful tool if you know how to use it well and with discipline. I have been here for nearly a year now and here is where I learned much of the credit knowledge that I have gained, I still have serious ways to go but I feel like I am slowly getting there. Excellent credit is good, but also like 99 said, they can trash it if they like. This is why I don't make impulse purchases either and also I like staying under the radar from these companies and not give them a reason to screw with my credit. I'm paying them back and on time so why mess with my credit? Also it is worth the effort, and unfortunately there are times when life becomes more difficult, but most of these CCC's dont care, they just want their money back.

Personally, 99 I don't know how you managed to live like that, I can see where you said you felt like you were living like a criminal. I hope to never really deal with a CA in my life. But I am glad that you did post that so that we can learn from your posts and keep these vultures from screwing with us. Unfortunately that is how America works, screw over the little guy until you can't screw him anymore.

I remember a quote that I once read "Be good to people on your way up, because you will meet them on your way down"...lol.
Bank Of America: BankAmeriCard Cash Rewards-4.2k
Citi: Forward-4.5k American Airlines Advantage Platinum Select World Elite MasterCard 9/6/15-4K
Discover: More-7k
Amex BCE.2k- Amex SPG-5k
Chase: Freedom-5kSouthwest Rapid Rewards Plus- 3.6k
Capital one: Venture one-10,000, Visa Signature.

MemberSince99
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Postby MemberSince99 » Fri Feb 22, 2013 6:51 am

Honestly, it was hell, but then it was deserved. I didn't set out to deliberately screw these guys but that doesn't really matter I still screwed them. In the end that's all anyone will care about. I don't blame them at all for feeling as they did so I felt like it was deserved to live that way.

I just wanted to make clear that I never felt it was "right" to do that, and don't want to dodge my moral lapse in paying them. My sole "complaint" is simply about collection agencies that violate the law and try to make people pay 2 or 3 or more times on the same debt and make people pay debts that aren't theirs, post BS in their reports, etc. I was just posting my experience in case anyone finds it helpful or interesting. I don't recommend that anyone do that, for a lot of reasons. I do understand that sometimes you just can't pay them though, but I would make every effort to do so, as I do today.

Sometimes I still can't believe Wolpoff and Abramson filed suit not even knowing if they could serve me. Just more money down the toilet, no wonder they folded and became "Axiant". I mean serriously if you are going to file a lawsuit you should have a pretty good idea of where to serve someone instead of just hoping you can come up with them, unless you like throwing away a lot of money. (And if you do, I'm open to accept it...)

Snowman I hope you never deal with them either, even if you live in CA (just kidding!!!)

I'm still baffled to be honest as to why more CAs don't go totally rogue, I would think the profits would be fantastic. Just hire a bunch of ex-cons who aren't afraid to tell people they are going to come to their homes and gang rape and shoot them if they don't pay and call them 1000 times a day at all hours of the day and night, write bogus affidavits and provide service to random locations so they don't get served and you can get a default judgement and all that fun stuff, seriously it would be very profitable, even if you are the scum of the earth for it. Pay off the right politicians as part of the cost of doing business you'll still get a great return on investment. I'm totally clueless why the vultures don't just launch lawsuits against me right now, I mean who cares what the law says? The law SAYS it's illegal to discriminate in hiring based on criminal record IF the position does not directly relate to the offense for example but what employer doesn't openly violate that law and get away with it? What the law says and what goes can be two different things. I suppose I should just be grateful they don't rather than ask why not.....

Sevenfeet
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Postby Sevenfeet » Fri Feb 22, 2013 8:58 am

This thread is bringing me PTSD on my previous experiences nearly 15 years ago. I've had three experiences during that period with CAs. During that time, only one of them I would consider to be a situation where I was treated fairly and with a modicum of respect. Ironically it was with Amex (over a business card I used to carry back then) considering I carry a personal Platinum card now. The guy from the Amex collection agency was nice, affable and I we spoke regularly to update him on how my payment plan was going. I executed the payment schedule without trouble and was quickly able to turn my back on that part of my credit life.

The bigger disaster was a Discover card I carried in the late 90's. That CA was rude, obnoxious, cruel and loads of other awful adjectives. I actually had to read them the credit laws over the phone to get them to back off. I paid them too but it was an awful period. To this day I'm concerned enough about that history that I won't reapply myself to Discover again but I'll have my wife do it (not sure if I was blacklisted despite a paying off the debt).

Finally, the biggest disappointment in dealing with CAs wasn't really with the CA itself...it was with my undergraduate alma mater over an old student loan. In 2002 I was past my credit woes of late 90s and I had gotten a handle on all old debts (despite a lot of baddies still on the credit report from before). One of those debts was my student loan from grad school. When they contacted me about it, I visited the student loan office in person (since I lived in the same city) and negotiated a payment schedule. Then I literally walked in a check every month to the office to make sure they saw me, I said hi to everyone who worked there and the man who gave me a second chance to pay the loan without going to collection. It felt extremely good after two years to finally put that loan to bed.

So imagine my surprise years later when I thought I'd paid off my last student loan to find an old undergraduate loan still out there that I'd forgotten about, and so had my school. Here's the thing...by 2002 I was doing so well that I had the money to write them a check immediately (about $4K). The disappointing thing was that my school, when they discovered the error of not contacting me on this years ago that they immediately sent the thing to collection instead of just looking my contact information in the alumni directory and calling me up (my information was current). I called up their office quite pissed and said that if they had just called me, I would have overnighted a check to them and that would have been the end of it. Instead I wanted them to call off their attack dogs. But it was too late and they said they couldn't get the loan back. I ended up paying the CA after negotiating down their fee in exchange for a payment-in-full (like most CAs, they wanted a 100% commission, I told them that I liked my chances in court...they backed down). Since then I have withheld any payments to the alumni fund of my school until I get an apology for the whole incident. It's been a decade and I'm still waiting. Since my wife went to the same school, they haven't gotten any money out of her either.
Cards:
American Express Platinum (NPSL)
Penfed Platinum Reward Visa ($28K)
Chase Freedom Visa ($25K)
Fidelity American Express ($20K)
American Express Blue Cash Preferred ($20K)
Bank of America Cash Rewards MasterCard ($20K)
Citi Thank You Preferred Visa ($9.5K)
Chase Sapphire Preferred ($7.5K)
US Bank Cash + Visa Signature ($7K)
Discover IT ($4K)

MemberSince99
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Postby MemberSince99 » Fri Feb 22, 2013 4:58 pm

It seems like a lot of us have unfortunately had experiences involving CAs. It also seems like we've learned (hopefully) from our mistakes, and if we deal with them again, it will be a case of them going after the wrong person.

I had a charge off with Discover over 20 years ago, when I first got credit (I was so irresponsible it's not even funny, I DESERVED jail back then for debt even though we don't have debtors prisons). I charged off a Discover card, it was honestly a minimal amount no more than 2k or 2500 tops. Back then that was a lot of money to me, still is but it was a lot more then. Anyway, about 6 or 7 years later, they sent me a pre-approval in the mail for a card. I couldn't believe it, and sent it back (remember actual mail applications?). They wrote back with a letter saying they remembered how I burned them, and as a result, I would NEVER be able to get another Discover card again (check my signature). I still got pre-approvals in the mail from them for probably another year after that.

When I applied for one last year, 20 years after the charge off, I figured it would be an instant decline, but they approved me and have approved me for every card I've applied for with them. They do forget in time it seems, but it takes a while. And I give them credit for that. My plan is to do like I do now I always pay them as soon as a charge posts. I'm grateful that they gave me another chance, even if sometimes I grumble about their kind of stingy limits. They are a very good creditor to be in with.

Sevenfeet
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Postby Sevenfeet » Fri Feb 22, 2013 8:06 pm

So you're saying there is hope for me yet with Discover? Interesting. But I still want to spread the apps out between my wife and I. I think we'll have a better chance of being approved for 4 cards in a short period of time.

As for invitations in the mail, I haven't heard from Discover in years and years. I get solicitations from Chase every week (usually Slate and Freedom). I occasionally get ones from Citi, usually for the Diamond Preferred. And that's about it. No Discover, no 5/3rd, no Wells Fargo, or US Bank (all bank locally in my city). Its also quiet from BofA and Amex, not surprising since I already carry their products.
Cards:

American Express Platinum (NPSL)

Penfed Platinum Reward Visa ($28K)

Chase Freedom Visa ($25K)

Fidelity American Express ($20K)

American Express Blue Cash Preferred ($20K)

Bank of America Cash Rewards MasterCard ($20K)

Citi Thank You Preferred Visa ($9.5K)

Chase Sapphire Preferred ($7.5K)

US Bank Cash + Visa Signature ($7K)

Discover IT ($4K)

Gamma
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Postby Gamma » Fri Feb 22, 2013 10:21 pm

MemberSince99 wrote:It seems like a lot of us have unfortunately had experiences involving CAs. It also seems like we've learned (hopefully) from our mistakes, and if we deal with them again, it will be a case of them going after the wrong person.

I had a charge off with Discover over 20 years ago, when I first got credit (I was so irresponsible it's not even funny, I DESERVED jail back then for debt even though we don't have debtors prisons). I charged off a Discover card, it was honestly a minimal amount no more than 2k or 2500 tops. Back then that was a lot of money to me, still is but it was a lot more then. Anyway, about 6 or 7 years later, they sent me a pre-approval in the mail for a card. I couldn't believe it, and sent it back (remember actual mail applications?). They wrote back with a letter saying they remembered how I burned them, and as a result, I would NEVER be able to get another Discover card again (check my signature). I still got pre-approvals in the mail from them for probably another year after that.

When I applied for one last year, 20 years after the charge off, I figured it would be an instant decline, but they approved me and have approved me for every card I've applied for with them. They do forget in time it seems, but it takes a while. And I give them credit for that. My plan is to do like I do now I always pay them as soon as a charge posts. I'm grateful that they gave me another chance, even if sometimes I grumble about their kind of stingy limits. They are a very good creditor to be in with.

I remember when you said something about having a Discover at 5.5k limit then closed it and opened a new one, why? What happen? Also, I just got a small auto CLI from Discover today from 4.5k to 5.5k. I'm guessing it's to match my Freedom CL. Only took them 14 months to give me that small bump....

MemberSince99
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Postby MemberSince99 » Sat Feb 23, 2013 10:38 am

Sevenfeet wrote:So you're saying there is hope for me yet with Discover? Interesting. But I still want to spread the apps out between my wife and I. I think we'll have a better chance of being approved for 4 cards in a short period of time.

As for invitations in the mail, I haven't heard from Discover in years and years. I get solicitations from Chase every week (usually Slate and Freedom). I occasionally get ones from Citi, usually for the Diamond Preferred. And that's about it. No Discover, no 5/3rd, no Wells Fargo, or US Bank (all bank locally in my city). Its also quiet from BofA and Amex, not surprising since I already carry their products.


Yes. If my experience is any indication. Seems like after 20 years, they do forget about you being on the blacklist. I guess 20 years is better than the never they told me back in the 90s.

I no longer get any solicitations from any creditor in the mail. I'm totally cool with that. I think the last time I got one was from Amex last August, 6 months ago, and I'm on their blacklist. I'm not looking for anything anyway so it's just as well.

MemberSince99
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Postby MemberSince99 » Sat Feb 23, 2013 10:43 am

Gamma wrote:I remember when you said something about having a Discover at 5.5k limit then closed it and opened a new one, why? What happen? Also, I just got a small auto CLI from Discover today from 4.5k to 5.5k. I'm guessing it's to match my Freedom CL. Only took them 14 months to give me that small bump....


I did. I applied last April they gave me a 5.5k limit. I did end up closing it once I got the US Bank Cash +. I had let a girlfriend be an AU on it (bad bad bad bad bad idea even though she didn't run it up, do NOT do that!) and I wanted her off that, so I was either going to change the account number or close. I called them up to ask if they couldn't get a little closer to the limit on my Cash +, and being conservative they would not budge an inch. Actually I read some people get CLIs before the 6 months, but as always YMMV and they are just kind of "meh" about me so I got nowhere. So I closed it. Then in November I was feeling like maybe it would be good to diversify a bit just in case plus I would like some accounts to grow old once I pay off my student loans which are my oldest account. When I pay them off it will just kill my AAoA. So I was planting seeds to grow AAoA for when that day comes. I applied again and approved (not instantly) but for a 4.5k limit which kinda irked me but hey it is what it is. I don't really expect it to grow much.

Maybe they did try to match your freedom, good you got a CLI and it's an auto. Those are the only kind I go for. I'm not willing to take a hard pull to maybe get an increase - if I get one I want it to be from their end or forget it.



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