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Frequent Contributor
somnipotent
Posts: 367
Registered: ‎06-02-2008

I have an addiction.

Since joining this forum back on 2008 I have grown exponentially in my knowledge of the FICO credit system.  That being said, I have gone from the depths of credit Hades to comfortably sitting in the 700 club.  What a journey it has been. 

 

However, it appears I have the an addition now to amassing credit cards and gianormous credit limits.  I have no intentions of ever using the full potential or capacity of my cards, I just love the look and feel of fresh plastic.  I've aimed to get the all the flagship products I could get from my favorite creditors (well, at least the ones that are reasonabliy atainable and suit my spending habits and needs).  That being said, while this forum has been vastly educational and entertaining, I think it serves me, personally, as a vice that keeps me wanting more.  I love hearing about people's approvals and luv increases, but sitting in the garden is not as much fun as seeing that APPROVED message come across the screen, or opening that thick envelope packed with credit card aggreements and membership benefits. 

 

I've gone from wanting to just get approved for a credit limit above $2k to wanting to amass $100k in available credit and have utilization be at 5%.  From wanting to get at least a 620 credit score to be at 750+.  From using no credit to using credit and PIF.  From being scared of my credit to religiously checking my scores daily.  I have an addiction.

 

I'm somnipotent, and I'm a credit-aholic.


AmEx PRG (NPSL) | AmEx Costco ($8.2K) | AmEx Delta Gold ($19.3K) | AmEx BCE ($5K) | Chase United Explorer ($10K) | Chase Sapphire Preferred ($7.5K) | Chase Freedom ($8.2K) | Discover it ($3K) | Capital One Quicksilver ($2.5K) | PayPal Extras ($2.5K) | Lowes ($3.3K) | Walmart ($4.3K) | Amazon ($2.5K) | Restoration Hardware ($8.8K) | Crate & Barrel ($8.3K)
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Homeowner since 05/29/13
Moderator
09Lexie
Posts: 24,384
Registered: ‎09-13-2012

Re: I have an addiction.

I do enjoy a good app spree but for some reason I think I'm not at that full blown addiction stage yet. I know I am addicted to this forum so maybe Im feeding my jones through others successes. Yes, I check, pull and monitor my reports daily and I am constantly on the look out for cards to add to my sprees but I am satisfied in between those sprees.

Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011

Re: I have an addiction.

Well your not the only one on this forum :smileyhappy:

I guess i've lost that itch for wanting better scores and no INQs. I definitely have enough accounts!



Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Valued Member
flyingace
Posts: 313
Registered: ‎04-25-2013

Re: I have an addiction.


somnipotent wrote:

Since joining this forum back on 2008 I have grown exponentially in my knowledge of the FICO credit system.  That being said, I have gone from the depths of credit Hades to comfortably sitting in the 700 club.  What a journey it has been. 

 

However, it appears I have the an addition now to amassing credit cards and gianormous credit limits.  I have no intentions of ever using the full potential or capacity of my cards, I just love the look and feel of fresh plastic.  I've aimed to get the all the flagship products I could get from my favorite creditors (well, at least the ones that are reasonabliy atainable and suit my spending habits and needs).  That being said, while this forum has been vastly educational and entertaining, I think it serves me, personally, as a vice that keeps me wanting more.  I love hearing about people's approvals and luv increases, but sitting in the garden is not as much fun as seeing that APPROVED message come across the screen, or opening that thick envelope packed with credit card aggreements and membership benefits. 

 

I've gone from wanting to just get approved for a credit limit above $2k to wanting to amass $100k in available credit and have utilization be at 5%.  From wanting to get at least a 620 credit score to be at 750+.  From using no credit to using credit and PIF.  From being scared of my credit to religiously checking my scores daily.  I have an addiction.

 

I'm somnipotent, and I'm a credit-aholic.



I think anyone would have that addiction, but the most important thing is that you have grown to understand how credit works and how the system works -- which is exponentially more important than most people think. And I think this is a win. 

In my Snoopy holder: NFCU Flagship Sig Visa-- $11K | Chase Freedom -- $2500 | AMEX BCE -- $2000 | Amazon Visa -- $2000 | Discover It $1500| Old Navy Visa -- $1000 | Target Red Card -- $300

TU (Disc Pull 4/29/13) -- 752 | AmexEQ (6/13/13) -- 728 | AmexEXP-- 737 | AmexTU-- 737 (5/28/13)
Goals: 740 EQ/EXP/TU
Gardening until 12/3/13 -- or longer
Established Member
flapjack
Posts: 24
Registered: ‎03-04-2011

Re: I have an addiction.

Congratulations on your recovery. I was somewhat like you at first, but I learned to switch focus to my budget instead, keeping a solid bottom line and trying to save money where I could, using that as the point of pride rather than focus on the cards. Along those lines, I don't even carry a monthly balance at all despite the knowledge it would technically improve my score. I like going to sleep knowing I owe only the bare minimum - loan payments only. Doing that has allowed me to take advantage of other opportunities that have come with better credit, like purchasing additional assets that make money for me. II would not have the confidence to do that had I not known I could make it work financially.

EX: 785 EQ: 759 TU: 760 (9/14 via MyFico)
Contributor
ElCamino
Posts: 208
Registered: ‎03-20-2013

Re: I have an addiction.

You've got some pretty awesome cards, but I gotta ask you, do you actually earn enough rewards on each of them to justify the AFs?

 

Or are you planning on closing certain ones after reaping bonuses and waived first year AFs?



Amex BCE: $16.5k, Discover It: $5k, Chase Freedom Visa: $10k, Fidelity Amex: $7.5k, PenFed Cash Rewards Visa: $3.5k, CapOne Union Plus MC: $4.5k, Barclays Upromise MC: $5k, BoA Cash Rewards 123 MC: $1.5k
Established Contributor
zerobacan
Posts: 726
Registered: ‎01-13-2013

Re: I have an addiction.


flapjack wrote:

Congratulations on your recovery. I was somewhat like you at first, but I learned to switch focus to my budget instead, keeping a solid bottom line and trying to save money where I could, using that as the point of pride rather than focus on the cards. Along those lines, I don't even carry a monthly balance at all despite the knowledge it would technically improve my score. I like going to sleep knowing I owe only the bare minimum - loan payments only. Doing that has allowed me to take advantage of other opportunities that have come with better credit, like purchasing additional assets that make money for me. II would not have the confidence to do that had I not known I could make it work financially.


I do have an addiction to new credtit too, however what flapjack says is also my goal. and  I do need to focus to reduce my debt and find an assest to invest on that will make me money.

 

My goal and addiction now is to lower my utility by increasing my available credit, to have better interest rate that will help me pay down my balances in a shorter time.

Amex PRG NPSL, Amex Delta 2k (AU) Discover iT 5k, BOFA Siggy $5k, BOFA AlaskaAir Siggy 5k, BBVA Compass $5k! Macy's $4.5k, C1 $2.5, SFCU $2.5k, SFCU LOC $2k, Paypal SmartC $4k, Sam's 5.5k Victoria Secret $2k, Kay's $1.7k.,76/Citi $1.5k Amazon $5k, Walmart Disco $3k JC Penny $4k, C1 $2.5, BBRZ 700.
Starting:TU:536 EXP:561 : EQ:552 Current:TU:680 Walmart (2-15-14)EXP:712 FICO!! (12-4-13):EQ:622 (FICO 2-6-14) Uti 27% Goal: 720 By 12-13.
Frequent Contributor
somnipotent
Posts: 367
Registered: ‎06-02-2008

Re: I have an addiction.

[ Edited ]

ElCamino wrote:

You've got some pretty awesome cards, but I gotta ask you, do you actually earn enough rewards on each of them to justify the AFs?

 

Or are you planning on closing certain ones after reaping bonuses and waived first year AFs?


I put everything on my cards so yes, the cards pay for themselves.  I engineered my apps with a purpose in mind. 

 

  • MileagePlus Explorer - I live in near a United hub so most of my flights are through United. Free first check bag paids for this.  I'm thinking of upgrading to Club after a year as the club access is primo.
  • Delta SkyMiles - I fly west a lot, specifically to Utah, which is a Delta hub and I use Delta for nonstop flights out of DCA.  Flights south to ATL or ORL same way.  Same as above.
  • Costco TrueEarnings - I drop over 10k at Costco yearly and and gas.  No brainer.
  • PRG - I use like cash whereever possible.
  • Freedom - no AF, revolving rewards, easy UR redemptions
  • Sapphire Preferred - already paid for itself with the the 40k points.  Plus we eat out a lot so this definately pays in the long term

 


AmEx PRG (NPSL) | AmEx Costco ($8.2K) | AmEx Delta Gold ($19.3K) | AmEx BCE ($5K) | Chase United Explorer ($10K) | Chase Sapphire Preferred ($7.5K) | Chase Freedom ($8.2K) | Discover it ($3K) | Capital One Quicksilver ($2.5K) | PayPal Extras ($2.5K) | Lowes ($3.3K) | Walmart ($4.3K) | Amazon ($2.5K) | Restoration Hardware ($8.8K) | Crate & Barrel ($8.3K)
--
Homeowner since 05/29/13

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