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@longtimelurker wrote:
@enharu wrote:
@CreditScholar wrote:
@Vegas247 wrote:How much is 1 point worth on CSP?
That really depends on how you redeem it. I've seen anything from 1.25-10 cents
Sadly I've seen it go for just 1ccp.
A friend was all excited telling everyone at the dinner table about how she redeemed almost 1.5k worth of cashback from her CSP........ The setting however wasn't appropriate for me to explain to her about why that was a bad decision...
Don't understand. Isn't it always appropriate in such situations to scream "You [expletive] [expletive] stupid idiot! I am ashamed to be the same species as you"?
That's what I do.
lol, one would think if the person brought up the brag on the cashback it might be the appropriate place to educate them on a better way? That's a lot of cash back for folk like me.
@enharu wrote:
@CreditScholar wrote:
@Vegas247 wrote:How much is 1 point worth on CSP?
That really depends on how you redeem it. I've seen anything from 1.25-10 cents
Sadly I've seen it go for just 1ccp.
A friend was all excited telling everyone at the dinner table about how she redeemed almost 1.5k worth of cashback from her CSP........ The setting however wasn't appropriate for me to explain to her about why that was a bad decision...
Hah. Last night, I saw someone load $40 in cash to a VR at CVS. So she essentially paid a 10% fee for no points. My head almost exploded.
@enharu wrote:
@CreditScholar wrote:
@Vegas247 wrote:How much is 1 point worth on CSP?
That really depends on how you redeem it. I've seen anything from 1.25-10 cents
Sadly I've seen it go for just 1ccp.
A friend was all excited telling everyone at the dinner table about how she redeemed almost 1.5k worth of cashback from her CSP........ The setting however wasn't appropriate for me to explain to her about why that was a bad decision...
O.M.G "Warning, going off topic"
This reminds me of just two day ago, I was at a coworkers new home he just closed on, and while we were talking he let me in on his little "secret". "To make our credit history look longer my wife and I closed all of our credit card accounts that were under 5 years old! I can't believe no one knows about this!" I just didn't have the heart to tell him........
@wHiTeSoL wrote:
"To make our credit history look longer my wife and I closed all of our credit card accounts that were under 5 years old! I can't believe no one knows about this!"
What is this I don't even...
@wHiTeSoL wrote:
@enharu wrote:
@CreditScholar wrote:
@Vegas247 wrote:How much is 1 point worth on CSP?
That really depends on how you redeem it. I've seen anything from 1.25-10 cents
Sadly I've seen it go for just 1ccp.
A friend was all excited telling everyone at the dinner table about how she redeemed almost 1.5k worth of cashback from her CSP........ The setting however wasn't appropriate for me to explain to her about why that was a bad decision...
O.M.G "Warning, going off topic"
This reminds me of just two day ago, I was at a coworkers new home he just closed on, and while we were talking he let me in on his little "secret". "To make our credit history look longer my wife and I closed all of our credit card accounts that were under 5 years old! I can't believe no one knows about this!" I just didn't have the heart to tell him........
Wait, hold on. Isn't he right? Assuming (hypothetically) his AAoA is 10 years. Closing credit card accounts that are under 10 years old will make his AAoA even higher in ten years when those cards fall off the report. Also assuming he has low UTIL, he's correct.
@longtimelurker wrote:
@enharu wrote:
@CreditScholar wrote:
@Vegas247 wrote:How much is 1 point worth on CSP?
That really depends on how you redeem it. I've seen anything from 1.25-10 cents
Sadly I've seen it go for just 1ccp.
A friend was all excited telling everyone at the dinner table about how she redeemed almost 1.5k worth of cashback from her CSP........ The setting however wasn't appropriate for me to explain to her about why that was a bad decision...
Don't understand. Isn't it always appropriate in such situations to scream "You [expletive] [expletive] stupid idiot! I am ashamed to be the same species as you"?
That's what I do.
lol'ed
@Lin55 wrote:
@wHiTeSoL wrote:
@enharu wrote:
@CreditScholar wrote:
@Vegas247 wrote:How much is 1 point worth on CSP?
That really depends on how you redeem it. I've seen anything from 1.25-10 cents
Sadly I've seen it go for just 1ccp.
A friend was all excited telling everyone at the dinner table about how she redeemed almost 1.5k worth of cashback from her CSP........ The setting however wasn't appropriate for me to explain to her about why that was a bad decision...
O.M.G "Warning, going off topic"
This reminds me of just two day ago, I was at a coworkers new home he just closed on, and while we were talking he let me in on his little "secret". "To make our credit history look longer my wife and I closed all of our credit card accounts that were under 5 years old! I can't believe no one knows about this!" I just didn't have the heart to tell him........
Wait, hold on. Isn't he right? Assuming (hypothetically) his AAoA is 10 years. Closing credit card accounts that are under 10 years old will make his AAoA even higher in ten years when those cards fall off the report. Also assuming he has low UTIL, he's correct.
Pretty sure the guy was referring to the present-tense. He probably wanted to lengthen his AAoA to get a better rate on the mortgage. As far as your assumption, that only holds if said person doesn't open any more new accounts. With fewer data points available, new accounts will have more of an effect on AAoA.
@Leadberry wrote:
@Lin55 wrote:
@wHiTeSoL wrote:
@enharu wrote:
@CreditScholar wrote:
@Vegas247 wrote:How much is 1 point worth on CSP?
That really depends on how you redeem it. I've seen anything from 1.25-10 cents
Sadly I've seen it go for just 1ccp.
A friend was all excited telling everyone at the dinner table about how she redeemed almost 1.5k worth of cashback from her CSP........ The setting however wasn't appropriate for me to explain to her about why that was a bad decision...
O.M.G "Warning, going off topic"
This reminds me of just two day ago, I was at a coworkers new home he just closed on, and while we were talking he let me in on his little "secret". "To make our credit history look longer my wife and I closed all of our credit card accounts that were under 5 years old! I can't believe no one knows about this!" I just didn't have the heart to tell him........
Wait, hold on. Isn't he right? Assuming (hypothetically) his AAoA is 10 years. Closing credit card accounts that are under 10 years old will make his AAoA even higher in ten years when those cards fall off the report. Also assuming he has low UTIL, he's correct.
Pretty sure the guy was referring to the present-tense. He probably wanted to lengthen his AAoA to get a better rate on the mortgage. As far as your assumption, that only holds if said person doesn't open any more new accounts. With fewer data points available, new accounts will have more of an effect on AAoA.
gotcha...