Done with myfico, apparently!

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Nixon
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Re: Done with myfico, apparently!

Postby Nixon » Tue Jan 12, 2016 7:00 pm

Approvals are based on creditworthiness not enrollment.
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CarefulBuilder14
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Re: Done with myfico, apparently!

Postby CarefulBuilder14 » Tue Jan 12, 2016 7:01 pm

yfan wrote:
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.

If you're patient, it can be advantageous to join the loyalty program before applying for the card. A targeted offer might come along.
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CarefulBuilder14
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Re: Done with myfico, apparently!

Postby CarefulBuilder14 » Tue Jan 12, 2016 10:45 pm

I don't see anything that says only AARP members are eligible. The application may just ask for the AARP membership number so the card looks cooler, or for the convenience of people who need the number for whatever benefits they use.

Chase pays AARP a fee to use a name many old people trust (perhaps wrongly, but that's a matter for another thread), just like UnitedHealthcare does. AARP doesn't get involved in the rewards or benefits in any way - they just collect fees from Chase.

So I don't think there is a loophole to close. 3% on travel or dining makes the card interesting for credit enthusiasts, but to your average credit user there's nothing exceptional about it. I don't see anything about the card that would make anyone want to restrict eligibility. It's not like AARP is subsidizing the card's rewards program.
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yfan
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Re: Done with myfico, apparently!

Postby yfan » Tue Jan 12, 2016 11:28 pm

Nixon wrote:Approvals are based on creditworthiness not enrollment.

But for most cobranded cards, membership is a requirement (a necessary condition but an insufficient one). You can't get a Costco Amex (soon to be Visa) if you aren't a Costco member. For the free programs, they automatically make you join if you're not a part of it already (like they did for me on Marriott). The case should be the same for AARP, and my guess is it soon will be, and maybe even retroactively so.

kdm31091
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Re: Done with myfico, apparently!

Postby kdm31091 » Thu Jan 14, 2016 7:24 am

While I totally appreciate and see the value in 0% offers, and have used them myself, I hate seeing posts like "I need a new 0% card to put an upcoming vacation on!".

No, you don't "need" it. Vacations are not a "need" and realistically one should have the money saved up, not financing it just because it's 0%. That's my opinion of course and not everyone would agree, but it just seems like a bad road to go down.

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Re: Done with myfico, apparently!

Postby Nixon » Thu Jan 14, 2016 8:48 am

kdm31091 wrote:While I totally appreciate and see the value in 0% offers, and have used them myself, I hate seeing posts like "I need a new 0% card to put an upcoming vacation on!".

No, you don't "need" it. Vacations are not a "need" and realistically one should have the money saved up, not financing it just because it's 0%. That's my opinion of course and not everyone would agree, but it just seems like a bad road to go down.


All work and no play makes Jack a mass murderer. Vacations are very much a need. How extravagant is the variable in question.
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Re: Done with myfico, apparently!

Postby kdm31091 » Thu Jan 14, 2016 4:02 pm

Nixon wrote:
kdm31091 wrote:While I totally appreciate and see the value in 0% offers, and have used them myself, I hate seeing posts like "I need a new 0% card to put an upcoming vacation on!".

No, you don't "need" it. Vacations are not a "need" and realistically one should have the money saved up, not financing it just because it's 0%. That's my opinion of course and not everyone would agree, but it just seems like a bad road to go down.


All work and no play makes Jack a mass murderer. Vacations are very much a need. How extravagant is the variable in question.


Of course people need vacations i.e. time off, but one doesn't "need" a fancy high end vacation that they presumably cannot afford. It just depends on the extent of the vacation, like you said.

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Re: Done with myfico, apparently!

Postby Tubpbs » Thu Jan 14, 2016 4:26 pm

I see what you're saying Nixon, but I think what KDM is saying is that if someone needs a 0% promo period to go on that vacation then it's simply the wrong vacation for that person.

I agree for the most part that everyone needs a vacation or time off / mind separation from work to some degree but that could be as simply as sleeping in all week and watching movies all day for some people. Obviously for others that won't do much. But my point, and really KDM's point as I interpret it at least, is that if they're relying on what is basically an interest free loan for a specified period, one way or another, they shouldn't be taking the vacation (even if they have the money in the bank 10x over in my opinion). The only exception I would say is someone who has the money and is doing it for the sport of it so to speak.
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kdm31091
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Re: Done with myfico, apparently!

Postby kdm31091 » Thu Jan 14, 2016 5:37 pm

Tubpbs wrote:I see what you're saying Nixon, but I think what KDM is saying is that if someone needs a 0% promo period to go on that vacation then it's simply the wrong vacation for that person.

I agree for the most part that everyone needs a vacation or time off / mind separation from work to some degree but that could be as simply as sleeping in all week and watching movies all day for some people. Obviously for others that won't do much. But my point, and really KDM's point as I interpret it at least, is that if they're relying on what is basically an interest free loan for a specified period, one way or another, they shouldn't be taking the vacation (even if they have the money in the bank 10x over in my opinion). The only exception I would say is someone who has the money and is doing it for the sport of it so to speak.


Yup, that's exactly what I was saying. Alas, I shouldn't be surprised, since few people seem to have financial responsibility. It's just that they use the 0% offers and then two months later whine about finding the best BT offer because they don't want to be slapped with tons of interest. As if the situation weren't avoidable (don't overspend!) :rolleyes:

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Re: Done with myfico, apparently!

Postby Secretlurker » Mon Jan 18, 2016 10:55 pm

Nixon wrote:With the exception of Kenny, The whole moderation team on that site needs to be replaced.

Start with that.


Kinda got that backwards. :beat:



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