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. THEBLUERAIDER

    THEBLUERAIDER Well-Known Member
    Donor
    St. Louis CardinalsTennessee TitansNashville PredatorsMiddle Tennessee State Blue Raiders

    I should know this, but what is better? Multiple cards open with no balance or closing the accounts?
     
  2. ohhaithur

    ohhaithur e-Batman
    Donor

    Depends on your objectives
     
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  3. THEBLUERAIDER

    THEBLUERAIDER Well-Known Member
    Donor
    St. Louis CardinalsTennessee TitansNashville PredatorsMiddle Tennessee State Blue Raiders

    Right now, pay off my last card. I guess my question is which is better for your credit score.
     
  4. Where Eagles Dare

    Where Eagles Dare The Specialist Show On Earth
    Donor
    Auburn TigersAtlanta BravesWashington RedskinsAtlanta United

    Going to Bali for 10 nights for $300.

    Thanks CIP1 & 2
     
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  5. TAS

    TAS 20_ _ TMB Poster of the Year
    Donor

    Almost always going to be better to keep the account open. The average age of all your accounts is one of the main factors in your credit score, so keeping cards open will help in this regard.

    Only reasons to close an account:

    1. Don't want to pay annual fee and don't have the option to downgrade to a no-fee card
    2. Want to get the same card for sign up bonus and aren't allowed to have two of the same card (not sure if this is actually a rule but if so, the value of a new signup bonus probably trumps the value of keeping a card open)

    If you do decide to close the account, and you have another card with the same banking institution, I would ask them to move the credit line to the other card before closing. The ratio of your credit balance-to-credit limit is another big factor in your credit score (the lower, the better) so keeping a healthy credit limit will allow you to keep that ratio under 10%
     
  6. ohhaithur

    ohhaithur e-Batman
    Donor

    One additional reason: your lines of credit are causing harm with a mortgage, new cards, etc

    But yes, generally I would leave them open and lower my credit limits
     
  7. Det. Frank Bullitt

    Det. Frank Bullitt God Bless Texas
    Donor TMB OG
    Texas LonghornsManchester United

    Did anyone get a Pay Over Time solicitation on their Amex Plat this week in the mail?

    Part of it makes complete sense (well throw you some MR points if you carry a balance), but I cannot make heads or tails of the other method...


    They are offering 10k MR points to enroll, but I think the catch is that I can still pay in full (e.g. not carry a balance) on a "Pay Over Time" transaction.
     
  8. pratyk

    pratyk Arsenal FC, Rutgers Scarlet Knights
    Rutgers Scarlet KnightsArsenal

    Nope - take the points & enroll. There's no need to "pay over time" if you don't want to. I've done it on two different cards and I never split a charge over multiple payments..
     
  9. Det. Frank Bullitt

    Det. Frank Bullitt God Bless Texas
    Donor TMB OG
    Texas LonghornsManchester United

    So I can enroll, and continue paying in full each month?

    I guess it reads like this
    1. Enroll
    2. Chose which transactions you want to Pay Over Time
    3. Pay Over Time aka pay us interest.
    If I never do #2, then I guess #3 would never happen, right pratyk
     
  10. pratyk

    pratyk Arsenal FC, Rutgers Scarlet Knights
    Rutgers Scarlet KnightsArsenal

    Yep - it's free money.
     
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  11. Menelaus

    Menelaus The Red-Haired King
    Donor
    Alabama Crimson TideReal Madrid

    No brainer. Points were in my account in like 2-3 biz days.
     
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  12. Les Mocho

    Les Mocho Please don't get lost in the sauce
    Staff Donor TMB OG
    Newcastle UnitedBig 8 Conference

    Got my Venture card in. This thing is heavy duty
     
  13. comrade static

    comrade static i love french fries
    Donor
    Oklahoma City ThunderOklahoma Sooners

    Annual fee showed up on my CSP when I look at the app. My statement closes at the end of the month. Do I downgrade before or after my statement closes?
     
  14. ohhaithur

    ohhaithur e-Batman
    Donor

    Now
     
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  15. LSU90

    LSU90 Well-Known Member

    As long as you do it within 30 days of it posting.
     
  16. comrade static

    comrade static i love french fries
    Donor
    Oklahoma City ThunderOklahoma Sooners

    Got it taken care of yesterday. Downgraded to freedom. Thanks fellas
     
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  17. TAS

    TAS 20_ _ TMB Poster of the Year
    Donor

    Don't forget to activate your quarterly bonus categories. Probably too late for Q3 but you can get ahead of Q4, which starts Oct. 1
     
  18. Jimmy the Saint

    Jimmy the Saint It's like the Weimar Republic in that place
    Donor
    Penn State Nittany LionsGreen Bay PackersChelseaHartford WhalersPhoenix Rising

    Freedom categories for Q3 and Q4 are both trash. :twocents:

    And there was never a 5% bars and restaurant quarter this year.
     
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  19. tjosu

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

    Gas stations is pretty good imo. Q4 is terrible
     
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  20. Jimmy the Saint

    Jimmy the Saint It's like the Weimar Republic in that place
    Donor
    Penn State Nittany LionsGreen Bay PackersChelseaHartford WhalersPhoenix Rising

    It wasn't helpful for me personally but it's better than anything in Q4. I feel bad for you if you're spending anything near $1,500 on gas in a quarter.
     
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  21. Struggler

    Struggler Well-Known Member
    Donor
    Ohio State BuckeyesLSU TigersCincinnati RedsCincinnati Bengals

    What is quarter 4?
     
  22. Struggler

    Struggler Well-Known Member
    Donor
    Ohio State BuckeyesLSU TigersCincinnati RedsCincinnati Bengals

    What is the best Amex Platinum deal out there?
    Oakland Airport doesn’t have a priority pass lounge. I think I just paid the yearly fee in drinks and lunch
     
  23. Jimmy the Saint

    Jimmy the Saint It's like the Weimar Republic in that place
    Donor
    Penn State Nittany LionsGreen Bay PackersChelseaHartford WhalersPhoenix Rising

    Department stores, PayPal, and Chase Pay.
     
  24. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor
    Clemson TigersAntifaAnarchy

    Use card match to see if you can get the 100k offer

    If not use my referral :deerstandnotkneel:
     
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  25. Struggler

    Struggler Well-Known Member
    Donor
    Ohio State BuckeyesLSU TigersCincinnati RedsCincinnati Bengals

    Ewwww unless that includes Target. Mrs Struggler will destroy that $1500 in 3 months
     
  26. Where Eagles Dare

    Where Eagles Dare The Specialist Show On Earth
    Donor
    Auburn TigersAtlanta BravesWashington RedskinsAtlanta United

    So I want to points my way to Australia in the spring.

    I need 80k pts on American, 110 on Delta/British Air to book an American Flight.

    They look to be around $1400.

    ohhaithur can I still stack AA miles as long as I don't go over 5/24??

    My 60k offer then one more should get me what I need
     
  27. ohhaithur

    ohhaithur e-Batman
    Donor

    It currently is still alive but trending towards death
     
  28. tjosu

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

    QT gift cards man
     
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  29. Lipp

    Lipp Spartan Dawg
    Donor
    Michigan State SpartansDetroit LionsDetroit Red WingsGeorge Washington ColonialsDetroit Tigers

    What did you submit for your multiple CIPs when they asked for documentation of the business?
     
  30. LSU90

    LSU90 Well-Known Member

    Submitted my EIN from the IRS. The only time they asked was the time I used my EIN. If it is for your social security number they probably want proof you do business at the address so you could send them a copy of a utility bill most likely.
     
  31. DuffandMuff

    DuffandMuff Well-Known Member
    Tampa Bay Lightning

    I just got the Platinum card two weeks ago, so I may be able to help. As Lyrtch said, use the card match tool https://www.creditcards.com/cardmatch/ and hope for 100k.

    If not, open this link https://www.americanexpress.com/us/credit-cards/card/platinum/ in Incognito and there should be 70k/75k bonus. A referral link will only get you 60k.

    I'm sure you saw, but Oakland has an Escape Lounge, which apparently is pretty nice. And you can only access it with an Amex Platinum.
     
  32. DuffandMuff

    DuffandMuff Well-Known Member
    Tampa Bay Lightning

    Did you get it by snail mail? I only got the Amex Plat two weeks ago, but have been on the lookout for an email. I feel like I may have gotten that offer for my Blue Cash Everyday card, but could be wrong.
     
  33. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor
    Clemson TigersAntifaAnarchy

    amex plat adding travel insurance starting jan 1st it looks like

    great news
     
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  34. Det. Frank Bullitt

    Det. Frank Bullitt God Bless Texas
    Donor TMB OG
    Texas LonghornsManchester United

    yep.

    a neighbor got the same mailer.
     
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  35. pratyk

    pratyk Arsenal FC, Rutgers Scarlet Knights
    Rutgers Scarlet KnightsArsenal

    Pay Over Time is for Charge cards - they use a different term for Credit Cards.
     
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  36. pratyk

    pratyk Arsenal FC, Rutgers Scarlet Knights
    Rutgers Scarlet KnightsArsenal

    This will basically mean that I'll use my Amex Plat for booking flights over CSR (5x MR vs. 3 UR) - esp since I never really book open jaws on cash basis.
     
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  37. DuffandMuff

    DuffandMuff Well-Known Member
    Tampa Bay Lightning

    I had my first Centurion Lounge experience on Monday in Houston.

    It wasn't as big as I had expected and seemed relatively packed (5PM on Monday). I snagged a seat at the bar and had a Pinot Noir, a craft cocktail with tequila, mezcal, cointreau and grapefruit juice. Topped everything off with a white russian, because why not.

    The food bar was delicious. Salad, braised chicken thighs, roasted cauliflower and brussel sprouts. A couple different pastas. Individual banana puddings for dessert. I give the entire lounge a 7. The food and drinks were a definite step up from Priority Pass, but not much different outside of that (compared to some of the nicer Priority Pass lounges that is).

    I'll be at the Seattle and San Francisco ones before the end of year. Then Vegas and Hong Kong early next year. Hoping they're better.

    EDIT: Please note I had Pinot noir and not Grigio. I’m a red guy. Not white.
     
    #11487 DuffandMuff, Sep 27, 2019
    Last edited: Sep 27, 2019
  38. gordon bombay

    gordon bombay magician's alliance enthusiast
    Georgia Tech Yellow JacketsAtlanta BravesAtlanta HawksAtlanta Falcons

    The Virgin Atlantic clubhouses at JFK and LHR are by far the nicest clubs I've ever been in. If you ever get a chance to go to those, I wouldn't hesitate to show up early.
     
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  39. pratyk

    pratyk Arsenal FC, Rutgers Scarlet Knights
    Rutgers Scarlet KnightsArsenal

    The Hong Kong Centurion pictures seem nice but looks to be a pretty small lounge. The cathay business lounge was pretty good from what i remember - their first class lounge is even better with nap rooms and what not.
     
  40. DuffandMuff

    DuffandMuff Well-Known Member
    Tampa Bay Lightning

    I’ll be going to my first Delta Club this year. How are those typically? I’ve never been in an airline specific lounge.
     
  41. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor
    Clemson TigersAntifaAnarchy

    if you book anything above economy use their booking discount thing, said it before in here but it saved me a bundle on premium select to japan

    but i'm same, will be booking with it from now on
     
  42. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor
    Clemson TigersAntifaAnarchy

    Seattle is nice, can't speak compared to Houston. Not huge either though.

    I disliked Hong Kongs, the food was great but the seating was bad. Was like fancy restaurant seating.

    They've been having lots of problems with over crowding, they should have known and planned larger lounges. Philly probably had the best one for centurions, but again crowding is an issue.
    These I love. Food is hit or miss but with a lounge I mostly want comfortable seats with plugs, relatively quiet, and free drinks. Based on where it is if you get one of the legacy lounges they're monstrous with self serve bars and lots of lounge seating. New ones are staffed bars with more hot food options, still good seating options though.
     
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  43. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor
    Clemson TigersAntifaAnarchy

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  44. pratyk

    pratyk Arsenal FC, Rutgers Scarlet Knights
    Rutgers Scarlet KnightsArsenal

    Unless I'm overlooking something completely obvious, Why would you get a Delta Reserve over the Amex Platinum at the same annual fee, unless you need the MQMs?
     
  45. ANTWONE

    ANTWONE Hello
    Donor TMB OG
    Florida State SeminolesTampa Bay BuccaneersGame of ThronesGrateful Dead

    If you’re a Delta flyer you now get Centurion Lounge and the MQM boost is a pretty big deal for obtaining status
     
  46. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor
    Clemson TigersAntifaAnarchy

    will have to think hard about it but the companion pass is just a much easier value to recoup the AF vs the Plats myriad of maybe sort of valuable options (Incidental flight credit being near worthless for me now as one example)
     
  47. pianoman

    pianoman my drinks are free
    Donor TMB OG
    Michigan WolverinesChicago CubsDetroit Red Wings

    Yeah, I just got the Amex Platinum yesterday over the Delta Reserve but with the now Centurion lounge access and the companion pass I’ll probably downgrade the platinum and pick up the reserve when those higher signup bonuses hit.
     
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  48. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor
    Clemson TigersAntifaAnarchy

    centurion access being only when flying delta and ticket must be purchased on card makes it a little shakier
     
  49. Sportfan

    Sportfan From Six to Dumptime

    Got a CIP in July and hit the spend last week.

    Think my next card will be the SW Business to get companion in 2020. Then I’ll self refer for the CIP once I complete the spend on the SW card. Any other cards worth pursuing? Have a CSR that’s about 3 years old I use when I’m not hitting the spend on a new card. Also got the Chase business ink (cash?) last year.

    Figured this thread has made me about $3,000/year, pretty nice!
     
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  50. pratyk

    pratyk Arsenal FC, Rutgers Scarlet Knights
    Rutgers Scarlet KnightsArsenal

    Got it - re: MQMs and Companion pass. By the way, that post on TPG was paid for by Amex - so as rosy as it sounds, I'm sure there are some gotchas around some of those new benefits.