Credit Card Thread - Now with a Beginner's Guide to free travel/FAQ

Discussion in 'The Mainboard' started by blind dog, Apr 10, 2015.

  1. ButchCassidy

    ButchCassidy Well-Known Member
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    Ohio State BuckeyesColumbus CrewUnited States Men's National Soccer TeamSneakers

    less points would definitely be ideal cause we need a ticket for my GF too. the more i can pay for 2 round trip tickets with points, the better. believe ive already spent my $4000/50,000 points goal and its been 1.5 months lol
     
  2. ohhaithur

    ohhaithur e-Batman
    Donor

    Go check the reward bookings for the partners and you'll see if it works out
     
  3. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor

    tried to add TPG app

    forgot USAA locks out all secondary sites from access

    :(
     
  4. blind dog

    blind dog wps
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    Arkansas RazorbacksGreen Bay PackersWu-tangCoors Light

    Go for it :rain:
     
    Lyrtch likes this.
  5. ohhaithur

    ohhaithur e-Batman
    Donor

    Beginner's Churning

    What is churning?


    •Taking on multiple new rewards cards to get the sign-up bonuses, then canceling them (usually before the annual fee is due) and reapplying to get the bonuses again
    •Most people will likely not be “churning” since we won’t be canceling and reapplying, but the same process is applicable
    •There are also business cards, but we’re going to keep it simple with personal cards in this

    Credit Scores
    [​IMG]
    •Often misunderstood, credit scores actually can go up significantly by churning (mine’s up ~100)
    •The “new credit” category will get crushed by you doing this…but it’s only 10% which is good!
    •This could diversify your “types of credit” if you have loans, which is good. If you only have credit, no change
    •Making more good payments is good
    •“Amounts owed” is a percentage. If you buy $2,000/month and only have $8,000 in lines of credit, that’s 25% and that’s BAD! If you open more credit cards and now have $100,000 in lines of credit, you’re at 2% which is GREAT

    Why you shouldn't play the credit card game
    •You could end missing a payment and paying a high APR which cancels out the benefits you made by getting bonuses
    •A major life incident can mean you fall behind on payments
    •You could hurt your credit score if you do it wrong
    •You could scare away banks with your lines of credit if you’re trying to buy a house
    •You could spend a lot of money going to really sweet places and having the time of your life and then home seems kind of shit in comparison
    DO NOT CHURN IF you will ever carry a balance over a month and pay interest
    DO NOT CHURN IF you are buying a house in the next two years and your credit score is risky
    DO NOT CHURN IF you do not trust your own money management skills or attention to detail
    DO NOT CHURN IF you are going to float more money than you can afford to pay back immediately

    Why Chase is the thread favorite
    •The best provider of bonuses and the most strict
    •Most Chase cards can only be opened if you have opened fewer than five accounts (from any company) in the past 24 months) – this is known as 5/24
    •Once you get to 4/24 you can open two cards on the same day to effectively get 6/24
    •You do not want to open any non-Chase credit cards if you are under 5/24 or will be under 5/24 within a few months
    •Once you go over 5/24 you’re probably never going back under
    •Chase has a suite of cards called the "Ultimate Rewards" cards. These cards give you “Ultimate Rewards” which can be used for car rentals, hotels, flights, cruises and more. Or transferred to other companies (like hotels and airlines)
    •The two Sapphire cards have the best signup bonuses, but the Freedom (5% cash back on rotating categories) and Freedom Unlimited (1.5% cash back) are useful to change to after you’re done with the Sapphire Preferred
    •You almost certainly want to end up with a Sapphire Reserve, which is arguably the best card on the market. Preferred is just a shit Reserve
    •You can only change cards any of these cards to any of the other four
    •If you open two Sapphires it needs to be ON THE SAME DAY
    •The other 5/24 cards are Southwest, Marriott, United and they all have their benefits
    •The Southwest cards are popular because if you get both (preferably at the beginning of a calendar year, you can get a companion pass for the rest of that year and the next year. This means someone flies for free with you every time you fly!

    Standard course of action for those who are under 5/24
    •If you are 2/24, congrats! You can get both Sapphire Reserve ($750 signup value) and Sapphire Preferred ($750) and both Southwest cards ($800 each plus a free companion pass). If you are 1/24 you can get another card and if you’re 0/24 you can get two others
    •If you are 3/24 you should almost certainly get the Sapphire Reserve, wait two months then get both Southwests
    •If you are 4/24 you have the most important decision of your life. You have to double up EITHER Sapphire or Southwest
    •If you are 5/24 you can either wait to get under or attack other cards

    Life after 5/24

    •It’s not all bad after you’re permanently over 5/24! There are plenty of good cards you can get to keep the habit going. You can do your own research on which makes sense for you for JUST bonuses
    •Ask itt for specific advice. There are way too many cards to go over every situation
     
    BP, High Cotton, tjsblue and 4 others like this.
  6. ohhaithur

    ohhaithur e-Batman
    Donor

    I made that (as a powerpoint) for my girlfriend. She broke up with me right afterwards, but at least I got two referrals and a nifty powerpoint out of the deal
     
    blotter, High Cotton, MA and 20 others like this.
  7. EMAW FC

    EMAW FC Proud Smucker
    Donor
    Kansas State WildcatsKansas City RoyalsKansas City ChiefsFulhamSporting Kansas CitySneakers

    lmao


    add that churning post to the OP tho for the newbies
     
    Drew63, LeVar Burton and ohhaithur like this.
  8. Arkadin

    Arkadin inefficiently efficent and unclearly clear
    Donor

    He forgot to tell you that they were supposed to leave for Iceland in a few days and now she's going and he's not :banderas:
     
    Nelson likes this.
  9. ohhaithur

    ohhaithur e-Batman
    Donor

    wow I almost forgot about that thanks
     
  10. Arkadin

    Arkadin inefficiently efficent and unclearly clear
    Donor

    There were sales to Iceland earlier I almost sent you but decided to be nice
     
  11. DuffandMuff

    DuffandMuff Well-Known Member
    Tampa Bay LightningSan Diego Padres

    I’ve just been using my chase freedom card thru Apple Pay lately. Trader Joe’s, gas stations, chick fil a, etc. Pretty sure that’s all supposed to be 5% cash back right now.
     
    Nelson, EMAW FC and TAS like this.
  12. Arkadin

    Arkadin inefficiently efficent and unclearly clear
    Donor

    It is
     
  13. TAS

    TAS 20_ _ TMB Poster of the Year
    Donor

    No. But you can send a secure message asking them to provide details on your signup bonus/requirements
     
  14. EMAW FC

    EMAW FC Proud Smucker
    Donor
    Kansas State WildcatsKansas City RoyalsKansas City ChiefsFulhamSporting Kansas CitySneakers

    yessir, been heavy using apple pay to get that 7.5% bonus once i transfer to CSR
     
  15. Nelson

    Nelson Can somebody please get Ja Rhule on the phone
    Donor
    Nebraska CornhuskersDenver NuggetsDenver BroncosColorado AvalanceBorussia DortmundManchester UnitedColorado State Rams

    Only chase freedom?
     
  16. ohhaithur

    ohhaithur e-Batman
    Donor

    it's the Q1 5% bonus category for the freedom
     
    Nelson likes this.
  17. ohhaithur

    ohhaithur e-Batman
    Donor

    Amazon credit card has 5% back at restaurants March 1 - May 31 up to $1500. Not a huge deal for CSR holders, but still nice
     
    Drew63 likes this.
  18. Arkadin

    Arkadin inefficiently efficent and unclearly clear
    Donor

    Amazon really trying to be a player in the credit card business
     
    Drew63 and ohhaithur like this.
  19. ohhaithur

    ohhaithur e-Batman
    Donor

    The more competition the better
     
    Drew63 and Nelson like this.
  20. Tommy Callahan

    Tommy Callahan Well-Known Member
    Donor TMB OG
    Alabama Crimson TideAtlanta Braves

    Staying at the SouthHampton. Tagging along on a work trip and all I had to get was the flight but not there terribly long. Any refs would be greatly appreciated!
     
  21. Nelson

    Nelson Can somebody please get Ja Rhule on the phone
    Donor
    Nebraska CornhuskersDenver NuggetsDenver BroncosColorado AvalanceBorussia DortmundManchester UnitedColorado State Rams

    That's where I stayed. Good old haunt, needs updating but nice joint. Make sure to rent a scooter, zooming around the island is fun
     
  22. Drew63

    Drew63 Well-Known Member

    Possible stupid question:

    Is my credit utilization the average percent of each card? Or my total credit line?

    Example:

    I have 2 cards with 3-4k credit line and one card with a 14k credit line. Is my credit utilization percent the amount spent out of 20ish-k or each percent on each card?
     
  23. ohhaithur

    ohhaithur e-Batman
    Donor

    Total
     
    Drew63 likes this.
  24. Drew63

    Drew63 Well-Known Member

    Thx
     
    ohhaithur likes this.
  25. ohhaithur

    ohhaithur e-Batman
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    blind dog maybe a thread title change to include that we have a wiki/faq will bring in new people who won't be scared anymore?
     
  26. blind dog

    blind dog wps
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    Arkansas RazorbacksGreen Bay PackersWu-tangCoors Light

    I'll change it to whatever you want. I had to freeze my credit b/c of the shitbirds at Equifax so I don't follow this thread like I used to (and fairly happy with current card anyway).
     
  27. ohhaithur

    ohhaithur e-Batman
    Donor

    Credit Card Thread - Now with a Beginner's Guide to free travel/FAQ

    maybe?
     
    EMAW FC, Nelson and blind dog like this.
  28. Nelson

    Nelson Can somebody please get Ja Rhule on the phone
    Donor
    Nebraska CornhuskersDenver NuggetsDenver BroncosColorado AvalanceBorussia DortmundManchester UnitedColorado State Rams

    Thanks to ohhaithur I am now team CSR team
     
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  29. EMAW FC

    EMAW FC Proud Smucker
    Donor
    Kansas State WildcatsKansas City RoyalsKansas City ChiefsFulhamSporting Kansas CitySneakers

    water's fine

    slam that metal card down on the table for the squad
     
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  30. ohhaithur

    ohhaithur e-Batman
    Donor

    [​IMG]
     
    Nelson likes this.
  31. pratyk

    pratyk Arsenal FC, Rutgers Scarlet Knights
    Rutgers Scarlet KnightsArsenal

    Waiting for the manager to approve the recon agent's CSR approval - got auto-denied for 5/24 but one of them was an AU CSR i had from the missus. Hopefully it comes through today so I can apply for a couple of more cards
     
    Arkadin likes this.
  32. ButchCassidy

    ButchCassidy Well-Known Member
    Donor
    Ohio State BuckeyesColumbus CrewUnited States Men's National Soccer TeamSneakers

    believe my CSP is just a really hard plastic
    :feelsbadman:
    should have just went with the CSR
     
  33. Nelson

    Nelson Can somebody please get Ja Rhule on the phone
    Donor
    Nebraska CornhuskersDenver NuggetsDenver BroncosColorado AvalanceBorussia DortmundManchester UnitedColorado State Rams

    I put on for my city
     
    EMAW FC likes this.
  34. TAS

    TAS 20_ _ TMB Poster of the Year
    Donor

    Anyone got a referral for the AMEX Blue Cash Preferred?
     
  35. pratyk

    pratyk Arsenal FC, Rutgers Scarlet Knights
    Rutgers Scarlet KnightsArsenal

    Looks like I got approved for CSR post-recon. Do they still overnight the cards or ship via 2 day delivery by default?
     
  36. Jimmy the Saint

    Jimmy the Saint The future is a benevolent black hole
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    Penn State Nittany LionsGreen Bay PackersChelseaHartford WhalersPhoenix Rising

    Check your PM's. For some reason AMEX puts your name in the referral link. :meh:
     
    TAS likes this.
  37. TAS

    TAS 20_ _ TMB Poster of the Year
    Donor

    :respek:
     
  38. DistantFactor

    DistantFactor Sesquipedalian
    Donor
    Oregon DucksPortland Trail Blazers

    I got both CSR and CSP and my CSP is metal. On the upper back left of the card it says "Contains metal do not shred". Seems to be the same as my CSR, you can check there for that note.
     
  39. ButchCassidy

    ButchCassidy Well-Known Member
    Donor
    Ohio State BuckeyesColumbus CrewUnited States Men's National Soccer TeamSneakers

    does say that; so does my amazon card. woohooo!
    :feelsgoodman:
     
    DistantFactor likes this.
  40. Lt. Pete Mitchell

    Lt. Pete Mitchell Back2Back Natty Champs
    Donor
    Georgia BulldogsAtlanta BravesAtlanta HawksAtlanta Falcons

    What credit card would be best for transferring balances? Looking for 0% APR and 0% on all transfers if possible. Tried to get the Chase Freedom Unlimited and got denied. Must be Bc I just got a new car loan for 40k. Credit score is 771. TIA
     
  41. Beachy Toast

    Beachy Toast He wants you too, Malachi.
    Donor
    Chicago White SoxChicago BearsChicago BlackhawksKansas State WildcatsMontreal Impact

    You can't connect USAA to anything?
     
  42. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor

    they make it stupid hard so most sites don't have the mechanisms to allow it

    its very secure which is nice, but still
     
  43. ohhaithur

    ohhaithur e-Batman
    Donor

    CFU is easy card to get it you're under 5/24. I can't think of an easier card to get that would do what you want
     
    Realtree Buck likes this.
  44. NoNatty

    NoNatty Keyboard Cowboy
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    Oregon DucksPortland Trail BlazersSan Francisco 49'ersManchester UnitedPortland Timbers

    like ohaithur said, are you over 5/24? I can’t imagine getting denied for that card with a 771 score even with the car loan.
     
    DistantFactor and Nelson like this.
  45. Lt. Pete Mitchell

    Lt. Pete Mitchell Back2Back Natty Champs
    Donor
    Georgia BulldogsAtlanta BravesAtlanta HawksAtlanta Falcons

    I don’t think I am. I refinanced my house last year, got the car loan through my bank but then got a better rate through the dealership. So that would only be 3/24. I’m not sure but they said they were sending a letter explaining the decision.

    Credit score is good, my debt/available credit is 14%. I was wanting to consolidate my credit card debt to one card with a 0% apr/transfer fee. Also looking into Bank Americard and Amex everyday card.
     
  46. C A N E

    C A N E Let justice be done though the heavens fall
    Donor
    Miami HurricanesMiami Heat

    Anyone have an Amex plat referral link? Got a buddy signing up. I don’t have it.
     
  47. bRamonceTaylor

    bRamonceTaylor Well-Known Member
    Donor

    Here’s mine: will PM referral codes in the future.
     
    #4397 bRamonceTaylor, Mar 4, 2018
    Last edited: Mar 4, 2018
  48. Baseballman86

    Baseballman86 Well-Known Member
    Alabama Crimson TideAtlanta BravesAtlanta Falcons

    A couple years ago I did a big 0/0 transfer with a Chase Slate, but if you got denied for CFU I’m not sure a slate would work either. It looks like the AMEX everyday is running a 0% transfer and 0 APR for 15 months right now. That may be a good bet for balance transfers.

    https://www.americanexpress.com/us/...011830016&pmc=937&BUID=CCG&CRTV=controlaffcps
     
    Realtree Buck likes this.
  49. pratyk

    pratyk Arsenal FC, Rutgers Scarlet Knights
    Rutgers Scarlet KnightsArsenal

    If you haven’t used either of those links, I can always post mine.

    However, check Cardmatch.com as they’ve been showing some 100k Offers recently.
     
  50. tjosu

    tjosu This is kind of like the breakfast club, huh?
    Donor
    Oklahoma State CowboysHouston AstrosHouston TexansTiger Woods

    Looking at the AmEx current offers and thinking the one on the Delta Gold is pretty solid...60k miles with $3k spend, annual fee waived first year, plus a $50 statement credit when you make a Delta purchase
     
    High Cotton likes this.