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Credit Cards: How has joining the forum impacted your credit life?

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longtimelurker
Epic Contributor

Re: Credit Cards: How has joining the forum impacted your credit life?


@Anonymous wrote:

@Broke_Triathlete wrote:

remember when I applied for the local Sherriffs department (when my FICO was south of 400) I was told that I couldn't have the job there because my credit score resmebles a theif. 

That is an outragious comment by the department - see blue. 


Well, certainly poorly put (and many a good thief would have a much better credit score!) but the rejection is pretty standard for any security role, a very poor credit score can make you appear to be at risk for bribes.  

Message 111 of 119
longtimelurker
Epic Contributor

Re: Credit Cards: How has joining the forum impacted your credit life?


@Anonymous wrote:
Using different cards for different things isn't tedious, IMO. Why would I use a one percent card for groceries when I could use five percent? I think it's a waste of time to even try to play the rewards game and have 20 cards if you only use one, and the wrong one at that. And that's fine for most people who don't care..but if your seeking out rewards and the best return that's different.

Different people will have different tolerances for rewards maximization.   As others have said, a 5-6% cc discount on groceries might be overpaying if Costco or a cash-only store is 10-15% cheaper.   You could spend a lot of time clipping coupons and doing online price shopping, but many will feel that isn't worth it.   Others find thinking about which card to use for lots of purchases too much as well.

Message 112 of 119
Anonymous
Not applicable

Re: Credit Cards: How has joining the forum impacted your credit life?

Thinking about at what card to use at a checkout isn't rocket science and shouldn't take more than a minute. Someone like my mom, who doesn't really care about cash rewards just uses one card and that's fine but just makes no sense for someone to have a card that gives them 5 percent cashback and 1 percent and use the 1 percent. I didn't mention anything about cash and warehouse clubs generally take one type of card ( BJ's being the exception).
Message 113 of 119
kdm31091
Super Contributor

Re: Credit Cards: How has joining the forum impacted your credit life?


@Anonymous wrote:
Thinking about at what card to use at a checkout isn't rocket science and shouldn't take more than a minute. Someone like my mom, who doesn't really care about cash rewards just uses one card and that's fine but just makes no sense for someone to have a card that gives them 5 percent cashback and 1 percent and use the 1 percent. I didn't mention anything about cash and warehouse clubs generally take one type of card ( BJ's being the exception).

It's not rocket science, but some people are just not interested. The difference between even 5% and 1% cash back may not mean anything to them. And that's their right, whether we think it's stupid or not. Everyone cares about different things in life, and to someone who doesn't care about these things, even 5% is a tiny rebate on spend and that's about it, nothing to get overly excited about the way we do. Different strokes for different folks Smiley Happy

 

Now, I do think anyone who can handle credit cards responsibly should have more than one for scoring purposes but if they just want to use primarily one I understand, too.

Message 114 of 119
Anonymous
Not applicable

Re: Credit Cards: How has joining the forum impacted your credit life?

Well that's exactly my point..people that don't care about rewards..then it doesn't matter. Which honestly, I would say is the general population. But for those that do and spend a significant amount of time and energy maximizing rewards..5 percent is indeed a big difference. If I spend 100 dollars a week at the grocery store on 5 percent that's 5 dollars..If I use a 1 percent cashback card that's 1 dollar. 75 bucks for 1500 spend is better than what your getting at 1 percent on the same spend. Point is if you didn't give a crap about credit cards period, you wouldn't be on this site.
Message 115 of 119
kdm31091
Super Contributor

Re: Credit Cards: How has joining the forum impacted your credit life?


@Anonymous wrote:
Well that's exactly my point..people that don't care about rewards..then it doesn't matter. Which honestly, I would say is the general population. But for those that do and spend a significant amount of time and energy maximizing rewards..5 percent is indeed a big difference. If I spend 100 dollars a week at the grocery store on 5 percent that's 5 dollars..If I use a 1 percent cashback card that's 1 dollar. 75 bucks for 1500 spend is better than what your getting at 1 percent on the same spend. Point is if you didn't give a crap about credit cards period, you wouldn't be on this site.

Right, but the person who mentioned not caring was talking about their husband who indeed is presumably not on this site, lol. I was pointing out that he is one of the people who probably simply doesn't care.

Message 116 of 119
Anonymous
Not applicable

Re: Credit Cards: How has joining the forum impacted your credit life?

My point is if your trying to maximize your rewards..you stick with 3 or 4.. And if you don't give a crap about rewards, why have multiple cards? Use one and be done with it. I don't think anyone is getting what I'm saying. I'm not attacking anyone for not maximizing but the point I'm making is why spend the time, inquiries, and effort if your going to use the wrong card?
Message 117 of 119
Anonymous
Not applicable

Re: Credit Cards: How has joining the forum impacted your credit life?

The messed up thing today was helping out more relatives and friends get their credit in order. (Sorry guys I don't meant to act like I know it all, but after all, teaching someone is the best way to reinforce something that you have learned!)

 

The copious amounts of points and rewards that they earn and have no clue about. Not being registered online for any account access. Then seeing the amount of points that have expired and what will expire the next month.

 

We will see if BOA is kept in my household. Cuz I will tell you what. After the rep today promised me she would be able to get most of these points back, I have a hard time believing she can go back more than 5 years. 14 years of freaking points. Down the drain for this person. This person that basically could have had it set to auto redeem for cash. How bogus. Yes its always the consumers responsibility. But I am sorry, if you are going to a bank branch for a mortgage, and they offer both applicants $30k visas with 6.9% APR each, that rep should have helped them set that stuff up. Whatever!!!

Message 118 of 119
Anonymous
Not applicable

Re: Credit Cards: How has joining the forum impacted your credit life?

Well, in short, this place revived my credit life which at time was breathing very shallow and a faint pulse and just short of flatline.

 

I've learned tons here, to say the least.  I really got active here in October of 2014 (though I lurked forever) and doing what I have read here and based on other experiences my scores are the highest they have been in years and trending up almost a monthly basis.  I now qualify for interest rates that even just 12 months ago were just a dream, today thanks to the advice here I can get prime.

 

I can't lie, I have appd for a card based (that I had no intention of) on others excitement (not the NASA, NBA, etc.).  I am wildly entertained at the herculean stamina of CreditAddict and his insistence that Discover is going to give him a card.  Smiley LOL 

 

I contribute what I can but what I can offer is more around a life, business, and consulting type stuff but hey, I do tend to read this place multiple times a day.

Message 119 of 119
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