Done with myfico, apparently!

A place to discuss anything... except credit cards!
453 posts
kdm31091
Centurion Member
Centurion Member
 
Posts: 1057
Joined: Sat Feb 21, 2015 3:35 pm
Location: Claymont, DE

Re: Done with myfico, apparently!

Postby kdm31091 » Tue Jan 12, 2016 9:48 am

4ktvs wrote:
kdm31091 wrote:I love seeing overconfident MF members getting slapped with tiny limits on cards they should have waited to app for. :rolleyes:


That guy who claims to be 18 had a card from US bank with a limit of $300. LOL

He should have waited to apply for the Cash+ but it looks like he went for it anyways. Why he went for ALL those other cards before like two QS and the venture I have no idea. Even if the guy does make 80k or what ever per year. There is no need to build that much credit right away and even later on why have two QS?

Now stuck with a $300 limit %1 cash back card he is. He had it a long time coming though.. US bank clearly cut out all the BS and I would say they punished him by granting the card than not. They clearly wanted him to take the AAOA hit with out much risk to themselves.

When they grant a limit that low the bank is making a very clear statement. One I would hope they consider when looking to the future.


He deserves it...so I don't feel bad. At 18 years old, I find the whole income story very doubtful but even if true, like you said, there is no reason to app for a bunch of cards in such short succession.

Good for US Bank giving him a reality slap in the face. Prior to ban, I actually tried to reason with him on a PM and give him advice but he wasn't having it. Some people are determined to learn the hard way.

You're right, it's almost worse than being declined. He took a HP and AAOA ding for a $300 1% card. Hopefully this will make him think twice before the next impulse app. I don't see why he felt he needed a QS and the FNBO 2% card, and a Venture. They're all basically the same thing. He also got an AARP for that extra 1% on dining. None of this is necessary for someone just starting out (apping for 7 cards or more in 6 months). But oh well. As often happens, watch them slowly destroy their credit.


4ktvs
Centurion Member
Centurion Member
 
Posts: 152
Joined: Thu Nov 05, 2015 8:00 pm

Re: Done with myfico, apparently!

Postby 4ktvs » Tue Jan 12, 2016 10:30 am

In my eyes taking the AAOA hit for a %1 credit card at all with no sign up bonus is worse than being turned down much less one with a $300 limit. I think he likely feels the same way and I agree he had it coming. If he gets a CLI at all, it won't be much and not even worth talking about most likely.

They shouldn't give a CLI until he has quit applying for quite some time.

I think to a manual UW his credit is already destroyed, it's only a matter of time before the computers catch up I think as he likely ends up applying even more. Truly sad it is that so many young people are going to MF thinking they are going to get credit help to only end up getting pressured into APP NOW!!!!!!!!!!!!!!!!!!

This is going to be a stupid question I am sure, but don't you need to be older than 18 like by a lot to get a AARP credit card?

kdm31091
Centurion Member
Centurion Member
 
Posts: 1057
Joined: Sat Feb 21, 2015 3:35 pm
Location: Claymont, DE

Re: Done with myfico, apparently!

Postby kdm31091 » Tue Jan 12, 2016 10:47 am

4ktvs wrote:In my eyes taking the AAOA hit for a %1 credit card at all with no sign up bonus is worse than being turned down much less one with a $300 limit. I think he likely feels the same way and I agree he had it coming. If he gets a CLI at all, it won't be much and not even worth talking about most likely.

They shouldn't give a CLI until he has quit applying for quite some time.

I think to a manual UW his credit is already destroyed, it's only a matter of time before the computers catch up I think as he likely ends up applying even more. Truly sad it is that so many young people are going to MF thinking they are going to get credit help to only end up getting pressured into APP NOW!!!!!!!!!!!!!!!!!!

This is going to be a stupid question I am sure, but don't you need to be older than 18 like by a lot to get a AARP credit card?


He will definitely keep applying. It's clear he has no self control. Unfortunately for him, he's met his match with US Bank. They are very conservative and are not likely to give him any huge CLI for a long time.

The AARP card is open to anyone. If you just leave the AARP member # blank on the app, you can still be approved. Of course, the card is designed for AARP members, but for whatever reason, Chase doesn't care to close the loophole.

Nixon
Centurion Member
Centurion Member
 
Posts: 1093
Joined: Mon Nov 03, 2014 11:12 am
Location: Great Southwest

Re: Done with myfico, apparently!

Postby Nixon » Tue Jan 12, 2016 4:45 pm

If they closed the "loophole" they would have to do the same for the United, Marriott, Southwest, etc cards.
Image

User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 3960
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Re: Done with myfico, apparently!

Postby CarefulBuilder14 » Tue Jan 12, 2016 4:57 pm

Nixon wrote:If they closed the "loophole" they would have to do the same for the United, Marriott, Southwest, etc cards.

Membership in those programs is free. AARP has annual dues.
Keeping indefinitely: IHG, SchwabPlat, CSP, Discover, Freedom, ED, BCE, Hyatt
May close or PC: Prestige, Arrival, BrooksBros
AA Platinum converting into Costco

Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech
Letting new accounts cool off since May

kdm31091
Centurion Member
Centurion Member
 
Posts: 1057
Joined: Sat Feb 21, 2015 3:35 pm
Location: Claymont, DE

Re: Done with myfico, apparently!

Postby kdm31091 » Tue Jan 12, 2016 5:39 pm

Right. Thats what I mean about loophole. You should have to have AARP membership, paid for, to obtain the card.

kdm31091
Centurion Member
Centurion Member
 
Posts: 1057
Joined: Sat Feb 21, 2015 3:35 pm
Location: Claymont, DE

Re: Done with myfico, apparently!

Postby kdm31091 » Tue Jan 12, 2016 5:44 pm

Wow that 18 year old wont give up. Now hes asking about doing joint apps.

Why do people never know when to stop pushing their luck?

4ktvs
Centurion Member
Centurion Member
 
Posts: 152
Joined: Thu Nov 05, 2015 8:00 pm

Re: Done with myfico, apparently!

Postby 4ktvs » Tue Jan 12, 2016 6:04 pm

kdm31091 wrote:Wow that 18 year old wont give up. Now hes asking about doing joint apps.

Why do people never know when to stop pushing their luck?


Just read the thread on that. I think he has been doing joint accounts the whole time and now is asking why it didn't give him a auto win button on the US bank Cash+. His parents likely don't know much about credit and so that is how he keeps applying.

That or he thought putting down a high income on the apps would also be a auto win button for approvals as I have seen him more or less brag about how income helps approvals.

I can't wait to read the thread were a creditor asks him to verify income. Bet it's why he has stayed away from AMEX. :D

kdm31091
Centurion Member
Centurion Member
 
Posts: 1057
Joined: Sat Feb 21, 2015 3:35 pm
Location: Claymont, DE

Re: Done with myfico, apparently!

Postby kdm31091 » Tue Jan 12, 2016 6:21 pm

4ktvs wrote:
kdm31091 wrote:Wow that 18 year old wont give up. Now hes asking about doing joint apps.

Why do people never know when to stop pushing their luck?


Just read the thread on that. I think he has been doing joint accounts the whole time and now is asking why it didn't give him a auto win button on the US bank Cash+. His parents likely don't know much about credit and so that is how he keeps applying.

That or he thought putting down a high income on the apps would also be a auto win button for approvals as I have seen him more or less brag about how income helps approvals.

I can't wait to read the thread were a creditor asks him to verify income. Bet it's why he has stayed away from AMEX. :D


He does brag about income, as if anyone believes that at 18 years of age, hes an accountant with an 80k individual income.

Riiight...

yfan
Centurion Member
Centurion Member
 
Posts: 413
Joined: Wed Jul 09, 2014 5:55 pm
Location: San Jose CA

Re: Done with myfico, apparently!

Postby yfan » Tue Jan 12, 2016 6:32 pm

CarefulBuilder14 wrote:
Nixon wrote:If they closed the "loophole" they would have to do the same for the United, Marriott, Southwest, etc cards.

Membership in those programs is free. AARP has annual dues.

Not only that, when I got the Marriott card and I wasn't a Marriott Rewards member, they automatically enrolled me and gave me a number.



Return to “The Lounge”

Who is online

Users browsing this forum: No registered users and 2 guests