Is it addicting?

For just about anything you want to get off your chest about credit cards.
11 posts
icewater
Green Member
Green Member
 
Posts: 15
Joined: Sat Nov 17, 2012 1:06 pm
Location: salt lake city/utah

Is it addicting?

Postby icewater » Mon Dec 17, 2012 12:18 pm

I had been shut out of the exclusive world of credit cards for so long, that now that I am accepted, I find getting those approvals to be somewhat addicting. I need to stop.

I started because I had an ex roomate who had me on his costco card drop me after a couple years of never seeing or talking to him. I then applied for my own costco card and they told me about the credit card. It sounded like a good deal and even though I thought I would get rejected, I got it.

Just a couple months later, I started thinking about credit and how it could help me. One way was I was an AU on a BestBuy account where the interest was killing us, so I applied for a Chase Freedom to transfer the balance, and I got approved! But was told since Chase holds our Best Buy account I couldn't transfer over, so I applied for and was accepted to the Discover More program and will be transferring that BB debt to that card.

I then wanted to receive the 5% on gas all the time that PenFed offers, so I applied and really didn't think I would get it because of the strict requirements...but I did and it is now my highest CL yet!

But, now I find myself looking for more cards even though I don't need them. Cards that just look good just to add to my wallet, or cards with exclusivity just to prove I can get them. I really think this is from all those rejections even just 4 years ago. I remember probably 6 years ago getting rejected for a mall clothing store card. That was embarrassing.

Is it just me? Is anyone else in the same boat. I am done with the apps for at least a year, more like two, but for a while there, it was getting intoxicating, can anyone relate?
In My Wallet
American Express True Earnings (($2,000)) Aug '12
Chase Freedom Visa (($3,000)) Dec '12
Discover More (($3,000)) Dec '12
PenFed Platinum Cash Rewards (($7,000)) Dec '12
Amex Blue Cash Everyday (($3,500)) Dec '12
U.S. Bank Cash Plus (($10,500)) Dec '12


FutureBillionaire
Centurion Member
Centurion Member
 
Posts: 1589
Joined: Sun Jun 19, 2011 2:37 pm
Location: Down South

Postby FutureBillionaire » Mon Dec 17, 2012 4:39 pm

It is addicting. It's fun to get approved and see how much you are approved for. It's also fun to find different ways to maximize rewards from the cards. I'm not applying for anything anytime soon, but I venture to say that I hve the best possible cards on the market. I believe the only card I am missing is the Chase Freedom and a 2% on everything card.
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

silver6054
Centurion Member
Centurion Member
 
Posts: 143
Joined: Mon Nov 05, 2012 5:28 pm
Location: boston

Postby silver6054 » Tue Dec 18, 2012 12:07 am

Is Citi Forward the only one TY you have (or are you not listing the others as they are not used for purchases)? Thank You Preferred to boost the value of the Forward TY points.

Too late to get the freedom for the 10+10, so you probably don't need the other widely praised card, Chase Sapphire Preferred.
Others would add the various Citi AA cards for the bonus application miles, same for US Airways etc. So, still more to really complete the collection!


irvinfitness
Platinum Member
Platinum Member
 
Posts: 62
Joined: Tue Nov 27, 2012 8:43 am
Website: http://irvinfitness.com
Location: Lafayette/IN

Postby irvinfitness » Tue Dec 18, 2012 10:58 am

Can definitely be addicting...Always searching for a better card to maximize rewards and increase total CL. Also, trying to get in with the major companies. I still need to apply for an AMEX, but my inquiries have climbed this year...I don't want to wait much longer for backdating purposes, but I may have to sit for year still...
[size=60]Chase Freedom Signature - 10k (rotating 5%)
Citi Platinum Select - 8.1k (rotating 5%)
Discover It - 12k (rotating 5%)
AMEX BCE - 20k (Groceries 3% / Gas 2% )
Regions Signature Visa - 5k
US Bank Cash+ - 5.5k (Restaurants/Fast Food 5% / Drug Stores 2%)
Navy Federal cashRewards Visa Signature - 20k (Business Purchases)
Care Credit - 6k (Vet Bills/Dentist - 0% APR)
Chase IHG Rewards (Priority Club) - 18k (Annual Night Certificate, Platinum Elite Status)

Not used except for occasional purchase with promo:
Jared - 7.5k [/size]

icewater
Green Member
Green Member
 
Posts: 15
Joined: Sat Nov 17, 2012 1:06 pm
Location: salt lake city/utah

Postby icewater » Tue Dec 18, 2012 5:19 pm

I guess I didn't do too good at not app'ing for a while. I applied for and was approved for 2 more cards, but had good reasons (I think) for both.

What I am trying to do is assemble a 5% web for ALL PURCHASES.

I now have 5% on

Gasoline - - PenFed platinum cash rewards
Internet/TV/car insurance/electric/gas - - U.S. Bank Cash+
restaurants - - U.S. Bank Cash+
rotating - - Discover More (soon to be IT)
rotating - - Chase Freedom

The last one I want is Citi Forward for the 5% on restaurants, movies and Amazon. Then I can choose a different category with Cash+ like hotels or airlines, and then I will be done FOR SURE......probably :)
In My Wallet
American Express True Earnings (($2,000)) Aug '12
Chase Freedom Visa (($3,000)) Dec '12
Discover More (($3,000)) Dec '12
PenFed Platinum Cash Rewards (($7,000)) Dec '12
Amex Blue Cash Everyday (($3,500)) Dec '12
U.S. Bank Cash Plus (($10,500)) Dec '12

FutureBillionaire
Centurion Member
Centurion Member
 
Posts: 1589
Joined: Sun Jun 19, 2011 2:37 pm
Location: Down South

Postby FutureBillionaire » Tue Dec 18, 2012 5:38 pm

icewater wrote:I guess I didn't do too good at not app'ing for a while. I applied for and was approved for 2 more cards, but had good reasons (I think) for both.

What I am trying to do is assemble a 5% web for ALL PURCHASES.

I now have 5% on

Gasoline - - PenFed platinum cash rewards
Internet/TV/car insurance/electric/gas - - U.S. Bank Cash+
restaurants - - U.S. Bank Cash+
rotating - - Discover More (soon to be IT)
rotating - - Chase Freedom

The last one I want is Citi Forward for the 5% on restaurants, movies and Amazon. Then I can choose a different category with Cash+ like hotels or airlines, and then I will be done FOR SURE......probably :)


That has been my goal. I want at least 3% on everything I do, and hopefully I can get 5%.
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

hematino
Centurion Member
Centurion Member
 
Posts: 339
Joined: Fri May 11, 2012 4:08 pm
Location: Atlantic City, NJ

Postby hematino » Wed Dec 19, 2012 12:57 am

icewater wrote:I guess I didn't do too good at not app'ing for a while. I applied for and was approved for 2 more cards, but had good reasons (I think) for both.

What I am trying to do is assemble a 5% web for ALL PURCHASES.

I now have 5% on

Gasoline - - PenFed platinum cash rewards
Internet/TV/car insurance/electric/gas - - U.S. Bank Cash+
restaurants - - U.S. Bank Cash+
rotating - - Discover More (soon to be IT)
rotating - - Chase Freedom

The last one I want is Citi Forward for the 5% on restaurants, movies and Amazon. Then I can choose a different category with Cash+ like hotels or airlines, and then I will be done FOR SURE......probably :)


I'm sure you probably know this, but Forward is not a true 5% card like all the others you mentioned. It does give 5 points per dollar spent on those categories, but if its cash back you're after, stick with the Cash+ for 5% restaurants and the More for 5% movies. Thank you points are super stingy on most redemption values (especially cash back/statement credits), the main exception being for booking flights, and expire eventually unlike the rest of the others. It may be a good fit for you, but I thought so too at first.... sounded like an awesome and was disappointed once I got approved for and started using it. Don't get me wrong it has its uses and its ALRIGHT, but its not all its cracked up to be.
Now she's eyeless.
The snakes she held once
Eat up her hands.


FutureBillionaire
Centurion Member
Centurion Member
 
Posts: 1589
Joined: Sun Jun 19, 2011 2:37 pm
Location: Down South

Postby FutureBillionaire » Wed Dec 19, 2012 1:34 pm

hematino wrote:I'm sure you probably know this, but Forward is not a true 5% card like all the others you mentioned. It does give 5 points per dollar spent on those categories, but if its cash back you're after, stick with the Cash+ for 5% restaurants and the More for 5% movies. Thank you points are super stingy on most redemption values (especially cash back/statement credits), the main exception being for booking flights, and expire eventually unlike the rest of the others. It may be a good fit for you, but I thought so too at first.... sounded like an awesome and was disappointed once I got approved for and started using it. Don't get me wrong it has its uses and its ALRIGHT, but its not all its cracked up to be.


The redemption for department store gift crads is on point as well. I find that I still get bang for my buck because I'm a big Amazon shopper.
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

icewater
Green Member
Green Member
 
Posts: 15
Joined: Sat Nov 17, 2012 1:06 pm
Location: salt lake city/utah

Postby icewater » Wed Dec 19, 2012 11:14 pm

hematino wrote:I'm sure you probably know this, but Forward is not a true 5% card like all the others you mentioned. It does give 5 points per dollar spent on those categories, but if its cash back you're after, stick with the Cash+ for 5% restaurants and the More for 5% movies. Thank you points are super stingy on most redemption values (especially cash back/statement credits), the main exception being for booking flights, and expire eventually unlike the rest of the others. It may be a good fit for you, but I thought so too at first.... sounded like an awesome and was disappointed once I got approved for and started using it. Don't get me wrong it has its uses and its ALRIGHT, but its not all its cracked up to be.


I actually did not know this. I didn't research it as well as the others. I just saw 5% and saw stars in my eyes. I think it could still work for me as I do take a flight or two every year. How long until the points expire?
In My Wallet
American Express True Earnings (($2,000)) Aug '12
Chase Freedom Visa (($3,000)) Dec '12
Discover More (($3,000)) Dec '12
PenFed Platinum Cash Rewards (($7,000)) Dec '12
Amex Blue Cash Everyday (($3,500)) Dec '12
U.S. Bank Cash Plus (($10,500)) Dec '12

Vermonster
Centurion Member
Centurion Member
 
Posts: 363
Joined: Mon Oct 01, 2012 11:09 pm
Location: NJ

Postby Vermonster » Thu Dec 20, 2012 11:32 pm

The Forward app says TY points expire 5 years from the month they were earned. Not too bad, but personally I don't spend enough each year to redeem points for anything of value.
Case Freedom $5k
Chase Sapphire Preferred $5k
Amex Blue Cash Preferred $6k
Citi Double Cash $2.4k



Return to “General Credit Card Talk”

Who is online

Users browsing this forum: No registered users and 1 guest