Well said Joe!
@AverageJoesCredit wrote:
All im going to add is buying a pack of gum or a cup of joe usually is just to constitute usage to keep a card active , not intended as actual usage to get a cli
Not to be mean or rude, but that thought right there shows how many people have useless cards they don't need, that one have to manufacture a reason to swipe the card. Keeping it active is another way of saying " I have a card I dont use at all ", but I need it to pad my total profile to make it look good for utilization purposes only.
OFF-Topic:
It's funny how many people say I hit the wall in my rebuild, I did also and still got over the hump with no struggle. See my issue was in the beggining was following most of these senior contributors at the time they were senior contributors. I got on the happy train to rebuild then started hitting CLD, AA, denials oh and my INQ are now all in the 20's when I had zero before I ever came onto this site all at the same time. When I decided to start digging into half the peoples past post and experiences I noticed most has gone through BK's (I never have) and there reason was alot of time's carelessness or following most on here without digging up there past information (this site can rebuild or help set you back on the same advice people give).
I see how some try to compare profiles to others and I made the mistake until I dug up all there old posts to find out they compare nothing like me but actually going down there path of mistakes. Turns out over half the people dont post or say how many cards they really have or there past BK's or how they really messed up, but I can say more than half have over extended themselves trying to game the system and then come on here to complain or ask for help, first thing people need to realize if you cant hold yourself accountable for any of your mistakes you can't really be one to depend on for any information and there are alot of those on here only because they are only here to get the best bonus or highest CL for what reason have no clue (especially for the income they state), but some people I understand are self-employed and own there own business so the way they go about there credit is different from one who has a regular 9-5.
Most of the current senior contributors I rememeber not to long ago was new on here and rebuilding, but more than half jumped on the happy train and playing follower and not leading anyone to be honest, more people here encourage others to apply than question the motive's. So what kind of forum is this ? Is this one for informative information or a forum on how to fix your credit while attempting to game a system (reddit and about 10 other forums like this) that is going to game most back in a vicious way. If I was going to post everyday on here the first thing I would tell most people rebuilding is avoid anything sync or commenity period no if and or butts that to me is not a rebuild but a sure fire way to get stuck in debt. Also whether people believe it or not big banks hates when one has more of those sync/commenity cards than legit big bank cards. Sync/Com accounts are only good to keep those with low credit score in debt just because most dont PIF and the APR are through the roof. So again how is telling poeple to apply for store cards helping there rebuild? Charge cards and Credit cards are considered different, credit cards show more responsibility than a store charge cards which is only good in 1 place. So having more store charge cards than credit cards is not a good profile look. I have enough experience with that being stuck in the 600's for over a year having more store cards than actual credit cards and not getting any pre approvals on major banks like Citi,BOA,USB, etc...but that was me playing follower on here instead of leading my own path.
Im not trying to rub anyone the wrong way, but I been reading these forums for years so I already know specific people who I can depend on for solid advice they give to others. Uncle B has to be one of the best ones in here, solid methodical approached helped me get past the wall and trim the fat and not jump on every garbage that the banks throw out there to make one flinch. I went from the high 590's and I currently sit at 720's-740's and just last year this same time I was sitting at 620-640's.
I'm not trying to pick on anyone specific, but when one has senior contributor I expect alot more discipline with the credit approach instead of encouraging people to apply for every garbage out there, it's not helping when people are hitting wall or getting AA or CLD and there are a few current contributors currently in the wall state I wonder why...
Yet 2 other senior contributors actually agree that its ok to swipe a card just to keep it active when that is actually a poor excuse to even have the card unless its for what I said in the first paragraph padding up your overall profile, that's not even good advice. That's a good reason why one would get AA, CLD or there card closed especially if your holding a bunch of SYNC/Commenity cards even Barclays and even Cap 1 so which banks is next to say thats not OK. Don't blame the banks for reading these forums and switching policies if one aint good at adapting on the fly then you'll get left behind and most are going to be playing catch up with all the rule changes taking effect.
By the way with the Cap 1 card I have at 14.5k, it was really just a 7k venture when I was approved in 7/16. I combined another Cap 1 card into it to make it 14.5k that (donor) card I combined was 7.5k but was also another donor card( 6k /1.5k) that I had combined to make it 7.5k. So my 14.5k limit was from combining literally 3 cards into 1, before that for over a year I was getting zero CLI from Cap 1 they wouldnt even touch it. In short if Cap 1 aint giving you CLI and you decided to take it upon yourself to combine cards CAP 1 will close your card with the actual limit you have and give your other card what they consider a CLI of the limit your combining. So Cap 1 lines that have been combined are not limits Cap 1 would have normally given you regardless of what 1 thinks. Which is the same thing Chase is doing with people applying just to use the CL as a donor card. If the banks wont give you an increase people are taking upon themselves to use/apply and combine cards to have high limits, within there systems they dont believe or trust a person to have that limit for a reason so if one is not careful they will pull the plug on you. Banks will let a person overextend themselves to see if they can handle it or they abuse it.
Don't hate the player, hate the game. The banks are switching and people on here cant adapt quick enough because they are stuck in 1 format of building credit which is considered old to my standards now. Like BBQ low and slow is the best approach, I prefer to stay under there radar, most on here like having a target on there back by pushing the limits on these banks.
Sorry for the rant...I dont post much but when I do it tend's to be to long.
@JustcallmeTM wrote:
@AverageJoesCredit wrote:
All im going to add is buying a pack of gum or a cup of joe usually is just to constitute usage to keep a card active , not intended as actual usage to get a cliNot to be mean or rude, but that thought right there shows how many people have useless cards they don't need, that one have to manufacture a reason to swipe the card. Keeping it active is another way of saying " I have a card I dont use at all ", but I need it to pad my total profile to make it look good for utilization purposes only.
OFF-Topic:
It's funny how many people say I hit the wall in my rebuild, I did also and still got over the hump with no struggle. See my issue was in the beggining was following most of these senior contributors at the time they were senior contributors. I got on the happy train to rebuild then started hitting CLD, AA, denials oh and my INQ are now all in the 20's when I had zero before I ever came onto this site all at the same time. When I decided to start digging into half the peoples past post and experiences I noticed most has gone through BK's (I never have) and there reason was alot of time's carelessness or following most on here without digging up there past information (this site can rebuild or help set you back on the same advice people give).
I see how some try to compare profiles to others and I made the mistake until I dug up all there old posts to find out they compare nothing like me but actually going down there path of mistakes. Turns out over half the people dont post or say how many cards they really have or there past BK's or how they really messed up, but I can say more than half have over extended themselves trying to game the system and then come on here to complain or ask for help, first thing people need to realize if you cant hold yourself accountable for any of your mistakes you can't really be one to depend on for any information and there are alot of those on here only because they are only here to get the best bonus or highest CL for what reason have no clue (especially for the income they state), but some people I understand are self-employed and own there own business so the way they go about there credit is different from one who has a regular 9-5.
Most of the current senior contributors I rememeber not to long ago was new on here and rebuilding, but more than half jumped on the happy train and playing follower and not leading anyone to be honest, more people here encourage others to apply than question the motive's. So what kind of forum is this ? Is this one for informative information or a forum on how to fix your credit while attempting to game a system (reddit and about 10 other forums like this) that is going to game most back in a vicious way. If I was going to post everyday on here the first thing I would tell most people rebuilding is avoid anything sync or commenity period no if and or butts that to me is not a rebuild but a sure fire way to get stuck in debt. Also whether people believe it or not big banks hates when one has more of those sync/commenity cards than legit big bank cards. Sync/Com accounts are only good to keep those with low credit score in debt just because most dont PIF and the APR are through the roof. So again how is telling poeple to apply for store cards helping there rebuild? Charge cards and Credit cards are considered different, credit cards show more responsibility than a store charge cards which is only good in 1 place. So having more store charge cards than credit cards is not a good profile look. I have enough experience with that being stuck in the 600's for over a year having more store cards than actual credit cards and not getting any pre approvals on major banks like Citi,BOA,USB, etc...but that was me playing follower on here instead of leading my own path.
Im not trying to rub anyone the wrong way, but I been reading these forums for years so I already know specific people who I can depend on for solid advice they give to others. Uncle B has to be one of the best ones in here, solid methodical approached helped me get past the wall and trim the fat and not jump on every garbage that the banks throw out there to make one flinch. I went from the high 590's and I currently sit at 720's-740's and just last year this same time I was sitting at 620-640's.
I'm not trying to pick on anyone specific, but when one has senior contributor I expect alot more discipline with the credit approach instead of encouraging people to apply for every garbage out there, it's not helping when people are hitting wall or getting AA or CLD and there are a few current contributors currently in the wall state I wonder why...
Yet 2 other senior contributors actually agree that its ok to swipe a card just to keep it active when that is actually a poor excuse to even have the card unless its for what I said in the first paragraph padding up your overall profile, that's not even good advice. That's a good reason why one would get AA, CLD or there card closed especially if your holding a bunch of SYNC/Commenity cards even Barclays and even Cap 1 so which banks is next to say thats not OK. Don't blame the banks for reading these forums and switching policies if one aint good at adapting on the fly then you'll get left behind and most are going to be playing catch up with all the rule changes taking effect.
By the way with the Cap 1 card I have at 14.5k, it was really just a 7k venture when I was approved in 7/16. I combined another Cap 1 card into it to make it 14.5k that (donor) card I combined was 7.5k but was also another donor card( 6k /1.5k) that I had combined to make it 7.5k. So my 14.5k limit was from combining literally 3 cards into 1, before that for over a year I was getting zero CLI from Cap 1 they wouldnt even touch it. In short if Cap 1 aint giving you CLI and you decided to take it upon yourself to combine cards CAP 1 will close your card with the actual limit you have and give your other card what they consider a CLI of the limit your combining. So Cap 1 lines that have been combined are not limits Cap 1 would have normally given you regardless of what 1 thinks. Which is the same thing Chase is doing with people applying just to use the CL as a donor card. If the banks wont give you an increase people are taking upon themselves to use/apply and combine cards to have high limits, within there systems they dont believe or trust a person to have that limit for a reason so if one is not careful they will pull the plug on you. Banks will let a person overextend themselves to see if they can handle it or they abuse it.
Don't hate the player, hate the game. The banks are switching and people on here cant adapt quick enough because they are stuck in 1 format of building credit which is considered old to my standards now. Like BBQ low and slow is the best approach, I prefer to stay under there radar, most on here like having a target on there back by pushing the limits on these banks.
Sorry for the rant...I dont post much but when I do it tend's to be to long.
The term senior contributors is an internal MyFico descriptor of someone who has posted a lot on here, who, may or may not be following the same formula to building or maintaining credit.
Everyone has a method that works for them, so, extending your expectation onto others isn't exactly why any of us are here, we're here to learn from one another and from time to time, have constructive criticism.
There's an acronym that you may see here, "YMMV". It means "Your Mileage May Vary". What works for one, may or may not work for another. Free exchange of ideas and methods, find what works for you!!