@Anonymous wrote:
@CH-7-Mission-Accomplished wrote:
@Anonymous wrote:A lot of AA happens on here because community members often seek credit in excess. They get much more than they actually need, scare a few lenders into AA, and then spread horror stories. The truth is AA is pretty rare for normal people who don't use credit limits to keep score.
Wanting three of the cards you describe strikes me as an example of such excess.
High CLs, low APRs, BT fees, Cash advance fees...they only matter if you don't have an emergency fund. A credit union CC is not a substitute for an emergency fund.
Totally disagree with you. What is the downside risk of having three 30K limits with 6% interest? None. You should have a well balanced portfolio of low rate no fee cards in case life happens beyond or emergency fund and then a few rewards cards.
If you want to smack people down for excess, how about a 35K Lowes limit, 30K Barney's? Those are useless high limits, but they do help people keep utilization down.
Don't assume that your plan is everyone else's plan. It's not.
Exactly.
What I like about this forum: the sharing of credit do's & don't aka the 'hustle'.
What I don't like: being told what type credit and amount I should have and to save. We all know about that rainly day but there are people who are not able, for whatever reason, to save. I don't judge that.
I don't feel the poster was trying to judge or say their way is the BEST way. I think s/he was expressing their opinion. In reading this forum, I have come to realize that a lot of times there's more going on behind the scenes than some of us know about. I want to be clear. My statement is not directed at the OP or anyone above. 
@beautifulblaquepearl wrote:
@Anonymous wrote:
@CH-7-Mission-Accomplished wrote:
@Anonymous wrote:A lot of AA happens on here because community members often seek credit in excess. They get much more than they actually need, scare a few lenders into AA, and then spread horror stories. The truth is AA is pretty rare for normal people who don't use credit limits to keep score.
Wanting three of the cards you describe strikes me as an example of such excess.
High CLs, low APRs, BT fees, Cash advance fees...they only matter if you don't have an emergency fund. A credit union CC is not a substitute for an emergency fund.
Totally disagree with you. What is the downside risk of having three 30K limits with 6% interest? None. You should have a well balanced portfolio of low rate no fee cards in case life happens beyond or emergency fund and then a few rewards cards.
If you want to smack people down for excess, how about a 35K Lowes limit, 30K Barney's? Those are useless high limits, but they do help people keep utilization down.
Don't assume that your plan is everyone else's plan. It's not.
Exactly.
What I like about this forum: the sharing of credit do's & don't aka the 'hustle'.
What I don't like: being told what type credit and amount I should have and to save. We all know about that rainly day but there are people who are not able, for whatever reason, to save. I don't judge that.
I don't feel the poster was trying to judge or say their way is the BEST way. I think s/he was expressing their opinion. In reading this forum, I have come to realize that a lot of times there's more going on behind the scenes than some of us know about. I want to be clear. My statement is not directed at the OP or anyone above.
Sometimes, it's the delivery that gives the reader that impression.
(Formerly known as: Credit is my hobby (1.6M)/TCL objective)
@Anonymous wrote:
@creditguy wrote:
@Anonymous wrote:I have a question about penfed, right now I'm not looking to get a credit card with them but eventually I would like to. I have 5-6 inquries on my report and some people have been saying they don't like inquiries. Does that apply only to credit cards or does that also apply to their membership credit check? Also what bureau do they normally pull from? Hopefully someone doesn't mind answering, thanks.
It's a HP for membership and its Equifax, at least it was when I joined. I have read that the HP for membership is good for up to 30 days if you join and decide to apply for a credit product. They are very conservative and picky and yeah inquiries are a big deal to them, 5-6 inquiries however doesn't seem like a lot but then again I'm not a pen fed UW. Your scores and a clean report will be the biggest factors at the end of the day.
Well, I applied and they approved my membership. Then figured I would apply for the promise card and was approved for 5k and 9.99%. Lower than expected but recent Venture/NFCU cards may have something to do with it. Oh well, I'm sure it will grow and hopefully eventually they will lower the apr too!
Congratz Photaz on your approval!!
@beautifulblaquepearl wrote:
@creditguy wrote:Golden 1 is great but limited geographically. With that I will add Navy Federal I know it's limited too but it's available to a good chunk of the country in one way or another. They are very generous and easy to deal with, nothing but good things to say. Ironically I never heard of them before I came to this forum.
Me either. Along with PenFed & Nasa, NFCU is on my list for
2016.
Edited to add: Maybe 2017
Why 2017? If you don't mind me asking. Your scores are beyond excellent for NFCU, gotta get on the gravy train there in case it dries up.
