Done with myfico, apparently!

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Vermonster
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Re: Done with myfico, apparently!

Postby Vermonster » Wed Dec 16, 2015 11:13 am

Hahaha, He got pretty defensive when I called him entitled. Then the +1 train started.
Chase Freedom $9k~~Chase Sapphire Preferred $6.5k~~Amex Blue Cash Preferred $12.4k~~Citi Double Cash $4.7k


kdm31091
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Re: Done with myfico, apparently!

Postby kdm31091 » Wed Dec 16, 2015 11:29 am

Vermonster wrote:Hahaha, He got pretty defensive when I called him entitled. Then the +1 train started.


They refuse to just be straight up with him, tell him hes being entitled and unreasonable, and move on. Instead they encourage him feeling that every approval deserves to be 10k for him. Sickening.

4ktvs
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Re: Done with myfico, apparently!

Postby 4ktvs » Wed Dec 16, 2015 1:26 pm

kdm31091 wrote:
Vermonster wrote:
kdm31091 wrote:Last night, Credit Magic over on MF said "he was trying really hard to garden" but a "Citi prequal for 12.99% reeled him in". So he applied for Simplicity and got a stupid 1k limit. He immediately called EO to cancel the app. Ostensibly, the HP will still occur, and personally I hope the card does report. Shouldn't always be a "get out of jail free" thing if you didn't get what you wanted.

The funnier thing was simply his attitude towards it. Like a spoiled child. Besides the fact that if one was truly wanting to garden why even be checking for preapprovals? Go do something else with your time. It's not that hard. If you don't need a card, you don't need it. Whining about how "they reeled me in" reeks of zero self control. Nobody held a gun to his head and forced him to apply. Now he's whining about Citi's "unfair lending practices". Well when you app for 20 cards a month, the limits are gonna be low. It's just how it goes.


Be fair, he did get a "preapproved" mailer that was originally over 20%. I saw that the other day and clicked subscribe immediately. Such an entitled brat.

This is also a good one.
http://ficoforums.myfico.com/t5/Credit- ... -p/4372619

"Ohh you mean that 5/24 rule applies to ME TOO????" It scares me though that the Chase CSR suggested he go to myfico for "help." that is the last place someone with 8 new accounts needs to be.


Myfico is the last place anyone needs to be for help. Honestly, a lot of them are slowly destroying their credit, not helping it. You can only explain away so many new accounts.

Creditmagic got what he deserved and I hope it does report. Bottom line is if he truly wanted to garden then there was no reason to even care about prequals. He does this every month though. Says he is done apping and then a week later he apps. No self control. Its sad. Several members are like that. Say they are gardening but get "reeled in" by an offer. They are completely addicted and need help, honestly.


I at first thought it was a good place to learn more about credit, but then I went why does everyone here have 20+ cards. That can't be good.

The Chase CSR must not read any of what people post on myfico, because if they did they would have never said that.

This is going to sound like a stupid question but why is the site like that, shouldn't the goal to help people build a good FICO score not trash it with applying for credit cards non-stop?

Is it because FICO gets paid from the issuers each time a person apply's for credit and so they want people doing it all the time so they get there money no matter what happens?

Vermonster
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Re: Done with myfico, apparently!

Postby Vermonster » Wed Dec 16, 2015 2:15 pm

4ktvs wrote:This is going to sound like a stupid question but why is the site like that, shouldn't the goal to help people build a good FICO score not trash it with applying for credit cards non-stop?

Is it because FICO gets paid from the issuers each time a person apply's for credit and so they want people doing it all the time so they get there money no matter what happens?


The more someone apps, the more times a report/score is used, and the more times a person will check it. It is a lucrative cycle for them.
Chase Freedom $9k~~Chase Sapphire Preferred $6.5k~~Amex Blue Cash Preferred $12.4k~~Citi Double Cash $4.7k

Nixon
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Re: Done with myfico, apparently!

Postby Nixon » Wed Dec 16, 2015 2:52 pm

He should be happy he even got approved. Citi still doesn't like me. :p
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CreditWonderful
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Re: Done with myfico, apparently!

Postby CreditWonderful » Wed Dec 16, 2015 3:00 pm

...

kdm31091
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Re: Done with myfico, apparently!

Postby kdm31091 » Wed Dec 16, 2015 3:33 pm

At least in theory, myfico was designed to help people build their credit. At one time there were plenty of sensible posters, rational threads and decent thought processes.

Slowly over time it has been overtaken by people concerned only with chasing an extra 0.02 in rewards and ignoring all else. 20 inquiries per month and common and no big deal. 10 new accounts per year is nothing. None of this is ever mentioned as being damaging to credit, only that it will help you get that last little bit of rewards. There is never any talk of long term consequences, only "score x = card y, you're good to go!" which is completely superficial crap that people on a site for "experts" should be ashamed of. Nobody there digs deeper or provides any real input other than "the 3x on dining is unbeatable!" which may be true, but ignores all other factors.

In short, the Chase rep is either referring to the older myfico or is simply referring to what it's "supposed" to be vs what it actually is .

Nixon
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Re: Done with myfico, apparently!

Postby Nixon » Wed Dec 16, 2015 11:49 pm

CreditWonderful wrote:...


MF has brought it upon themselves for letting it get this bad.

Id personally be thrilled with a 1K approval from Citi. The wife's first Citi card in 5 years, she got a teeny tiny 1K as well and it has grown into over 17K overall exposure over 3 accounts despite all the new credit.


CM7 isn't like he used to be. The guy who didnt app for a Venture until I did first.
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kdm31091
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Re: Done with myfico, apparently!

Postby kdm31091 » Thu Dec 17, 2015 5:47 am

Vermonster wrote:Hahaha, He got pretty defensive when I called him entitled. Then the +1 train started.


And you already got reprimanded for being "harsh". See what I mean? They won't accept anything other than coddling.

It seems creditmagic has become very entitled as of late. I don't remember him being like that so much before, but you get a few great approvals and all of a sudden think you're God almighty and "deserve" better. Where people get "deserve" from anything involving credit is beyond me. The lender will give you what they feel your profile supports. A 1k approval might seem annoying, but you take what you can get. At least it still had the lowish APR, and he could have just waited and let the card grow. I agree that a 1k card isn't much good for a BT, but he said he didn't need that anyway, so...guess he shouldn't have apped for the stupid card to begin with.

Vermonster
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Re: Done with myfico, apparently!

Postby Vermonster » Thu Dec 17, 2015 9:03 am

kdm31091 wrote:
Vermonster wrote:Hahaha, He got pretty defensive when I called him entitled. Then the +1 train started.


And you already got reprimanded for being "harsh". See what I mean? They won't accept anything other than coddling.

It seems creditmagic has become very entitled as of late. I don't remember him being like that so much before, but you get a few great approvals and all of a sudden think you're God almighty and "deserve" better. Where people get "deserve" from anything involving credit is beyond me. The lender will give you what they feel your profile supports. A 1k approval might seem annoying, but you take what you can get. At least it still had the lowish APR, and he could have just waited and let the card grow. I agree that a 1k card isn't much good for a BT, but he said he didn't need that anyway, so...guess he shouldn't have apped for the stupid card to begin with.


I like how they said I should take the side of a fellow myfico member and not the computer that gave him the $1k limit. I would say the definition of credit entitlement is thinking that a computer is going to give you more than $1k. Especially because there are hundreds of threads complaining about how Citi gives shit limits, but they always grow.

For a "mature adult" he sure does have trouble with a dissenting opinion.
Chase Freedom $9k~~Chase Sapphire Preferred $6.5k~~Amex Blue Cash Preferred $12.4k~~Citi Double Cash $4.7k



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