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

Can confirm in regards to the gawks. Like the rewards since all I do is eat out and drink and bars are usually included as restaurants. The consistent dumb comments and shit from people is annoying as hell though.

 

Also fuck SWA boarding. Shit is annoying and pisses me off.

 

I love people who think it is a black card. I wouldn't be driving a volkswagen and getting takeout if I had a black card.

 

I've never understood the need to rush to get on the plane (not talking about SWA), I'd rather just relax in the terminal than spend extra time on the plane

Side note: I don't use the overhead compartments

 

I will wear my typical chinos and polo while flying on my SWA flights this year and make sure to wear a tank, gym shorts, sandals, and act an ass when I fly the cheaper AA in September. That'll really show TMB.

 

Just got a Sapphire Preferred with a sizable credit limit, higher than any of the current cards I carry including the Discover, which I've had the longest and use the most.

Metalcardboyz.

 

It's like we are the same person.

 

I saw the limit on the approval and thought, damn. I've had the Discover for a while and just recently got into the lower teen of thousands (only asked for a couple increases during that time) and Sapphire is a few thousand higher than it is. It'll be good for overall utilization percentage, though.

I've had a friend that has had a Sapphire for several years and loves it. So we'll see.

 

For all those who have Discover IT card/are looking at getting one - call in and ask about the 2x cashback they have for the next year and they'll sign you up.

2% back on all purchases and 10% back on the quarterly categories (gas, restaurants, Amazon.com, etc.). The bonus cashback won't be applied until after a year though. Discover is just the best

 

I'm the last one on if I don't have a carry on bag, but the first one on if I do. I rage pretty hard if some dickbag 10 rows back takes my overhead space.

 

I can't wait for it to get here.

 

Nice. Had no idea WF did this. Any weird T&C that screw you?

 

In my limited experience, yes you can get much better value by transferring UR points to the partner and then redeeming. Southwest should give you 1.3-1.4¢/pt, which is better than 1.25 from chase.

$200/night hotel cost me 12,000 pts after transferring to Hyatt Goldpass. So each pt was worth 1.67¢

Would have cost 16,000 pts for the same hotel if redeeming directly thru chase UR, giving you only 1.25¢/pt.

Each travel partner is a little different, and how much extra value you get might depend on the specific hotel or flight, but the general rule is transfer to a partner if possible. Higher end hotels (or stays on busy weekends) and business/first-class flights is where you can get the most value (2-3¢/pt).

 

Probably won't change your opinion, but they've done studies that show SW's boarding method is actually the quickest out of the major carriers.

 

Quickest =/= best

 

I'll accept that. If speed isn't the problem, what is?

 

I like being able to take my sweet ass time and skip past everyone going through the priority lane if I happen to miss my initial boarding time.

 

You can do that with SW (although, obviously, your seating options will have taken a hit)

 

Well then you can't really do that since on non-poor airlines you will already have a seat selected.

 

If spending more money makes you feel better about yourself, more power to you.

 

Just went in and got approved for the Gold Delta SkyMiles card. Wasn't planning on it at all until my coworkers convinced me of it today as we only fly Delta and there are some perks that come along with it. The deciding factor for me was the 50,000 miles (usually 30K) I get after 2K purchases in 3 months. I did research and it would cost roughly 60,000 miles for a round trip to Europe through Delta. I am all for using this card for a bit to get most of my flight covered to Europe.

Now I have to decide if I want to cancel my WF card that I never use but have because it is my longest standing line of credt.i I also have the Citi Double Cash card that I swipe daily. Three lines of credit total currently open. Thoughts?

 

If you don't have an annual fee on the WF card (and you have self-control), there are zero good reasons to cancel, and a bunch of good reasons to keep it open.

 

Mine came Monday.

 

Wtf. Mine still hasn't come.

 

Hmm intriguing. Has anyone called up and asked for this? For the last three months I've requested a CLI on my It card and gotten $1500 immediately. Well I got greedy and went for it again today. It says they need two days to review. In some cases they need to do a hard pull, but said they would confirm with me before they do that. Looks like this might be a soft pull, oh well.

FICO score has been at 750 the previous two months, but dipped down to 735. As usual, there's no rhyme or reason. My limit increased, i put less charges on it, and I haven't had my credit touched or looked at in months. Guess the score isn't so bad as it's the only thing I have in my name (no student/car loans, no mortgage). Lack of credit history, lack of varying debt, and low credit limit are my three biggest detractors.

 

Yeah I have the IT card and they gave me the promo over online chat.

 

just got mine. Feels awesome.

 

Id open another line for another bonus once you hit this one

 

On with them now. Will report back shortly.

Edit: That was quick as hell. Took like 4 minutes on online chat.

"Thanks for your patience. Yes, I see this offer is available. After the first twelve consecutive billing cycles that you are enrolled, we will double all the Cashback Bonus rewards you have earned and apply them to your account in the next billing cycle. Enrollment into this promotion will not be finalized until your next billing cycle; any spend you make from today until your next billing cycle will not be eligible for this double Cashback bonus promotion. You earn rewards on purchases you make that have posted to your account by the end of the 12th consecutive billing cycle. You will not receive Double Cashback if your account is closed or no longer in the Cashback reward program as of the award date."

 

I can't tell if that's sarcasm or not. You think 4 lines of credit is a good idea?

 

Yes. High availability credit, utilizing a small amount, keep building history and reap the rewards

 

4 is fine, as long as you handle them responsibly.

And if your credit applications are spread out, you have nothing to worry about. Creditors start to get concerned if you open 4,5,6 credit cards within a short period of time. But even then, it's not necessarily a deal breaker.

 

I've had 6 new ones in the last year. All paid off and my score is in the 800s.

 

I apply for at least one or two new ones every year and close ones that have an annual fee coming due besides my AMEX Blue Cash Preferred.

 

Doesn't closing the cards have a negative effect on your score? You're applying for cards and using them for 11 months and then closing them?

 

Thanks

 

Maybe slightly but they aren't open long enough to really impact the age significantly.

 

Think I'm gonna pick up the Chase Freedom. It was between that and the AmEx Blue Cash Everyday. That $200 sign up bonus with Freedom pushed me over the edge.

 

I've got the Freedom and SP combo; build up huge points and then transfer.

 

Was immediately approved with a $7,000 limit. I've come a long way since my first card (Discover) almost two years ago when they gave me a whopping $750 limit.

I don't travel enough yet to get a card centered around travel rewards. I take just a few flights a year and stay with friends in most places. No traveling for work. Plus it seems like most of those have annual fees and I'm still not ready to bite the bullet on that.

 

I'd love to get the new Delta because of the 60,000 mile promo on the Platinum card they are running this month, but unfortunately I already have the gold which means I'm not eligible for the "Welcome bonus" even if I pay to upgrade. Without that, it's just a credit card with a $195 annual fee and one free companion ticket per year. Not quite worth it.

It's annoying because I got the gold delta AMEX like 5-6 years ago when it was only 25,000 miles.

EDIT: If anybody has a PROVEN way around this, please share. I currently have Gold delta AMEX and want to upgrade to Platinum AMEX for miles and MQM bonus. Delta however, considers all three cards to be part of the same "product", and the fine print says you aren't eligible for welcome bonus if you currently or have ever owned that product. They don't care what level it is, just a Delta AMEX in general. Fuckers

 

My Hyatt and Marriott cards have an annual fee, but you also get a free night on your card anniversary. I can use those anywhere, which is worth the fee imo.

 

I got into some trouble with automatic credit increases when I was in college. Opened one card when I turned 18, just for emergencies and it had a $500 limit. Slowly but surely, WF just kept upping the limit and "just for emergencies" turned into "need beer money". Long story short, a card that started at $500 limit wound up having a $22,500 limit roughly 5-6 years later without me even once asking them to raise it. Unfortunately, I used up about half that by the time I graduated . Took several years to pay it off. It's good now though because the credit card is over 10 years old, which is rare these days, and it really helps my utilization. Credit score creeping towards 800.

 

Tickling 800, can't wait to cross onto the other side of that. Only thing that's holding me back is average length of card

 

When they say "free night on your card anniversary" does that mean you can only use the free stay on the day you applied, or is it good for a year?

 

Its good forever usually. You just get it on your anniversary

 

Marriott is like 6/8 months from your anniversary date every year and then it expires.

 

Hyatt annual free night expires after a year