The what you think will happen this year (2016) thread

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kdm31091
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Re: The what you think will happen this year (2016) thread

Postby kdm31091 » Wed Jan 13, 2016 9:58 am

takeshi wrote:
kdm31091 wrote:Discover and Freedom make it work by rotating the categories.

...and by using caps.


Right. But even Sallie Mae was capped, and it still went away. US Bank instituted caps on the cash+ but didn't bring back the "abused" categories that existed prior to the caps. Fixed, permanent 5% on "ordinary" categories such as groceries/gas with no fee, no having to "opt in", etc...seems like it's gone the way of the dinosaur.

With Freedom/Discover, the categories rotate, have a fairly low overall cap, and you have to opt in. I am quite sure there's a percentage of consumers who simply forget to opt in, therefore just getting 1% on purchases. Same for Cash+.


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Re: The what you think will happen this year (2016) thread

Postby yfan » Wed Jan 13, 2016 11:57 am

Nixon wrote:Actually it's banking laws that are killing it.

I knew I liked the new banking laws! Here's one more reason to love. :cheers:

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Re: The what you think will happen this year (2016) thread

Postby Nixon » Wed Jan 13, 2016 12:12 pm

yfan wrote:
Nixon wrote:Actually it's banking laws that are killing it.

I knew I liked the new banking laws! Here's one more reason to love. :cheers:

One step closer to communism. ;)
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Re: The what you think will happen this year (2016) thread

Postby yfan » Wed Jan 13, 2016 12:29 pm

4ktvs wrote:is there any federal laws on the books for a max APR?

Federal law limits interest rates for cards issued by Credit Unions to 15%. An effort to apply the same limit to banks failed in 2009.

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Re: The what you think will happen this year (2016) thread

Postby yfan » Wed Jan 13, 2016 12:30 pm

Nixon wrote:
yfan wrote:
Nixon wrote:Actually it's banking laws that are killing it.

I knew I liked the new banking laws! Here's one more reason to love. :cheers:

One step closer to communism. ;)

Yes, that must be it. After all, there is nothing between communism and anarchy.

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Re: The what you think will happen this year (2016) thread

Postby Nixon » Wed Jan 13, 2016 4:02 pm

yfan wrote:
4ktvs wrote:is there any federal laws on the books for a max APR?

Federal law limits interest rates for cards issued by Credit Unions to 15%. An effort to apply the same limit to banks failed in 2009.


18%.
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Vattené
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Re: The what you think will happen this year (2016) thread

Postby Vattené » Wed Jan 13, 2016 4:50 pm

kdm31091 wrote:Right. But even Sallie Mae was capped, and it still went away.

Not for me though because I already have it. They can't take it away from ME because they'll surely default as a bank if they even try it. I'm grandfathered in aND IT'S GOING TO LAST FOREVER AND NOTHING ABOUT THE CARD I LIKE CAN EVER CHANGE.

Oh, sorry, I was looking for MF :ppp
-Vattené
FICO-8:
EX - 827 (4/17) | TU - 812 (4/17)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

yfan
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Re: The what you think will happen this year (2016) thread

Postby yfan » Wed Jan 13, 2016 6:27 pm

Vattené wrote:
kdm31091 wrote:Right. But even Sallie Mae was capped, and it still went away.

Not for me though because I already have it. They can't take it away from ME because they'll surely default as a bank if they even try it. I'm grandfathered in aND IT'S GOING TO LAST FOREVER AND NOTHING ABOUT THE CARD I LIKE CAN EVER CHANGE.

Oh, sorry, I was looking for MF :ppp

You forgot to mention how they need to be giving you bonus spend incentives from time to time to keep your interest! :lift:

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Vattené
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Re: The what you think will happen this year (2016) thread

Postby Vattené » Wed Jan 13, 2016 7:57 pm

yfan wrote:
Vattené wrote:
kdm31091 wrote:Right. But even Sallie Mae was capped, and it still went away.

Not for me though because I already have it. They can't take it away from ME because they'll surely default as a bank if they even try it. I'm grandfathered in aND IT'S GOING TO LAST FOREVER AND NOTHING ABOUT THE CARD I LIKE CAN EVER CHANGE.

Oh, sorry, I was looking for MF :ppp

You forgot to mention how they need to be giving you bonus spend incentives from time to time to keep your interest! :lift:

Well yeah, I mean that's just a given. Surely they don't expect me to grace them with my business for nothing* do they?

*besides their already untenable rewards program, of course
-Vattené
FICO-8:
EX - 827 (4/17) | TU - 812 (4/17)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

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CarefulBuilder14
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Re: The what you think will happen this year (2016) thread

Postby CarefulBuilder14 » Thu Jan 14, 2016 11:25 am

Let's see how long they can last when they treat their unprofitable customers that way! :ppp

The SM signup bonus is small, but they can't support the rewards program by buying a lot of cheap hotel/airline/cruise points from the co-brand partners. Cash rewards cost more.
Very useful: SchwabPlat, CSP, IHG, Costco (was AA Plat), Freedom, SPG, Prestige (retention)
Somewhat useful: Discover, ED (was EDP), BCE, Hyatt
SD with activity alerts, might close: Arrival

Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech, BofA Travel PH, Aviator Red



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