Done with myfico, apparently!

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kdm31091
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Re: Done with myfico, apparently!

Postby kdm31091 » Sat Jun 04, 2016 9:49 am

CarefulBuilder14 wrote:I got upgrades on some store cards. There were no bonuses or special rewards, and they closed old accounts and opened new ones. The risk of fraud is also increased, since the cards can be used anywhere V/MC is accepted (even though I have a dozen better V/MC options for most purchases). Still, they're definitely upgrades!

Then I read about someone else getting AA, and decided I didn't want to risk it, so I closed the accounts proactively.


The whole "proactive closure" thing is silly to me. It's fine if you just don't want a card anymore, but closing accounts because AA could occur is unnecessary. AA can occur on any and all accounts so by that logic, better shut them all down.

And don't understand what the real need is to be proactive about it. If they cut your limit or close the card, who cares? It's not like it's a derog or something that will make your score plummet. Deal with it if it happens, otherwise stop stressing about it.


To My Credit
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Re: Done with myfico, apparently!

Postby To My Credit » Sat Jun 04, 2016 1:32 pm

What exactly is Adverse Actions (AA)? I mean, other than decreasing the CL and deactivating the Credit Card, what else falls under AA?
Current cards: BankAmericard CR, BankAmericard BBR, Citi Double Cash, Chase Freedom, AmEx BCE, Discover It
Wishlist: US Bank Cash+

kdm31091
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Re: Done with myfico, apparently!

Postby kdm31091 » Sun Jun 05, 2016 10:00 am

To My Credit wrote:What exactly is Adverse Actions (AA)? I mean, other than decreasing the CL and deactivating the Credit Card, what else falls under AA?


That's pretty much it. It's when the issuer cuts your limit or closes out your account. Despite the rampant paranoia, it generally only happens when several things combine at once: aggressive credit seeking, constant BTs, high utilization, etc. This is why when your utilization is high it's not prudent to call for APR reductions that you don't need and things like that. You're shooting yourself in the foot asking for your account to be looked over.

Unfortunately, when AA happens, people tend to post oversimplified threads about it that don't really provide much other than contributing to paranoia and speculation. I think it's a waste of time anyway; worry about it if it happens. No point in speculating over what caused it because what does that help?

To My Credit
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Re: Done with myfico, apparently!

Postby To My Credit » Sun Jun 05, 2016 11:49 am

kdm31091 wrote:That's pretty much it. It's when the issuer cuts your limit or closes out your account. Despite the rampant paranoia, it generally only happens when several things combine at once: aggressive credit seeking, constant BTs, high utilization, etc. This is why when your utilization is high it's not prudent to call for APR reductions that you don't need and things like that. You're shooting yourself in the foot asking for your account to be looked over.

Unfortunately, when AA happens, people tend to post oversimplified threads about it that don't really provide much other than contributing to paranoia and speculation. I think it's a waste of time anyway; worry about it if it happens. No point in speculating over what caused it because what does that help?

From what I understand about AA, I agree with you. If the worst that can happen because of AA is that the account will be closed, why close the account yourself? Provided you're only closing it because it's in your SD, of course.
Current cards: BankAmericard CR, BankAmericard BBR, Citi Double Cash, Chase Freedom, AmEx BCE, Discover It
Wishlist: US Bank Cash+

Tubpbs
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Re: Done with myfico, apparently!

Postby Tubpbs » Sun Jun 05, 2016 2:01 pm

I posted for the first time on MyFICO over the weekend in response to an approval post with a question. 100% stupid question. I responded nicely and intelligently. OP seems to be set on having a battle Royale with me for not answering his question in the way he wanted. Seems to be a moron, but we'll see how far it goes or if he'll stop embarrassing himself.
Amex - BCP, Platinum, Business Gold
BoA - BankAmericard Cash Rewards
Chase - Freedom, CSP, RC, Ink Plus
Citi - DC, Prestige
Discover - It

MemberSince99
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Re: Done with myfico, apparently!

Postby MemberSince99 » Thu Jun 09, 2016 8:27 am

Tubpbs wrote:I posted for the first time on MyFICO over the weekend in response to an approval post with a question. 100% stupid question. I responded nicely and intelligently. OP seems to be set on having a battle Royale with me for not answering his question in the way he wanted. Seems to be a moron, but we'll see how far it goes or if he'll stop embarrassing himself.


I don't know if you care but it is very easy to get banned over there. If you care I would watch your step and be very pc and kiss butt a lot. Even if they say something ludicrous like the duck card is the best thing ever don't ridicule their stupidity. You will get banned and very quickly if they are the pet of a mod or community leader.

Did idiot boy do something dumb? Yeah but best to just say congrats + 1 over there.

Nixon
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Re: Done with myfico, apparently!

Postby Nixon » Thu Jun 09, 2016 8:56 am

MemberSince99 wrote:
Tubpbs wrote:I posted for the first time on MyFICO over the weekend in response to an approval post with a question. 100% stupid question. I responded nicely and intelligently. OP seems to be set on having a battle Royale with me for not answering his question in the way he wanted. Seems to be a moron, but we'll see how far it goes or if he'll stop embarrassing himself.


I don't know if you care but it is very easy to get banned over there. If you care I would watch your step and be very pc and kiss butt a lot. Even if they say something ludicrous like the duck card is the best thing ever don't ridicule their stupidity. You will get banned and very quickly if they are the pet of a mod or community leader.

Did idiot boy do something dumb? Yeah but best to just say congrats + 1 over there.


"I just declare BK7"

Congrats, thanks for sharing.
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Tubpbs
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Re: Done with myfico, apparently!

Postby Tubpbs » Thu Jun 09, 2016 6:02 pm

MemberSince99 wrote:
Tubpbs wrote:I posted for the first time on MyFICO over the weekend in response to an approval post with a question. 100% stupid question. I responded nicely and intelligently. OP seems to be set on having a battle Royale with me for not answering his question in the way he wanted. Seems to be a moron, but we'll see how far it goes or if he'll stop embarrassing himself.


I don't know if you care but it is very easy to get banned over there. If you care I would watch your step and be very pc and kiss butt a lot. Even if they say something ludicrous like the duck card is the best thing ever don't ridicule their stupidity. You will get banned and very quickly if they are the pet of a mod or community leader.

Did idiot boy do something dumb? Yeah but best to just say congrats + 1 over there.


I don't particularly care at all.

I would rather not get banned, but I'm not going to do all that.

I'm not planning on telling anyone they're an idiot, but I do intend to be honest in a controlled way...
Amex - BCP, Platinum, Business Gold
BoA - BankAmericard Cash Rewards
Chase - Freedom, CSP, RC, Ink Plus
Citi - DC, Prestige
Discover - It

MemberSince99
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Re: Done with myfico, apparently!

Postby MemberSince99 » Thu Jun 09, 2016 6:49 pm

Nixon wrote:
MemberSince99 wrote:
Tubpbs wrote:I posted for the first time on MyFICO over the weekend in response to an approval post with a question. 100% stupid question. I responded nicely and intelligently. OP seems to be set on having a battle Royale with me for not answering his question in the way he wanted. Seems to be a moron, but we'll see how far it goes or if he'll stop embarrassing himself.


I don't know if you care but it is very easy to get banned over there. If you care I would watch your step and be very pc and kiss butt a lot. Even if they say something ludicrous like the duck card is the best thing ever don't ridicule their stupidity. You will get banned and very quickly if they are the pet of a mod or community leader.

Did idiot boy do something dumb? Yeah but best to just say congrats + 1 over there.


"I just declare BK7"

Congrats, thanks for sharing.


Congrats +1!!!!!!!!

That will never get you banned. That and endlessly extolling the virtues of gardening.

You know, if you really think about it, if MyFICO truly believes in gardening so much then why do they offer all those links to credit cards they presumably make money on when people click them? Oh, guess I just answered my own question. But doesn't that make them contradictory if not hypocrites? I mean if the garden is so freaking wonderful, why ever apply again? Just stay in that lovely blissful paradise until the day you kick the bucket.

I just realized my stupidity is trying to make sense of what they say and do. Sorry I'll snap out of it.

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CarefulBuilder14
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Re: Done with myfico, apparently!

Postby CarefulBuilder14 » Thu Jun 09, 2016 7:04 pm

MemberSince99 wrote:You know, if you really think about it, if MyFICO truly believes in gardening so much then why do they offer all those links to credit cards they presumably make money on when people click them? Oh, guess I just answered my own question. But doesn't that make them contradictory if not hypocrites? I mean if the garden is so freaking wonderful, why ever apply again? Just stay in that lovely blissful paradise until the day you kick the bucket.

I just realized my stupidity is trying to make sense of what they say and do. Sorry I'll snap out of it.

It seems to me that the garden fanatics aren't the power they once were. The "flavor of the month" crowd seems a lot more popular.

Maybe my sample size of threads is too small, though.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when



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