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Mega Contributor
Creditaddict
Posts: 18,905
Registered: ‎10-23-2007

Re: I wish INQ didn't count...


haulingthescoreup wrote:

Just wait until all y'all with two fistfulls of cards have to put up with the care and feeding of those things for a year or so. Gotta use this one, HSBC's quick to close; whoops, double rewards this quarter, this one will have to be the grocery/ gas card; never gonna get a CLI if I don't use this thing, so I guess I'd better stick it back in my wallet; wait, when was the due date on this one? Do I have a balance?? Am I LATE???

 

You know those poor people that you see on TV with the Animal Control officers carrying out cages and cages of starving critters? They no longer had pets; they just had more and more and more and more animals.

 

Credit is a tool. It can be fun to acquire new credit, just as it can be fun to get the latest attachment to the Dremel Rotary Super-Duper-Polisher. But having a garage full of unused tools makes no sense. It costs money, and it clutters your mind as well as the garage. And it's the same with CC's.

 

To copy/ paste from my own siggy: * Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?

 

OK, enough of my tortured similes and metaphors for tonight...


HAHA that is a great post and oh so true! I have so many cards I had to set them up to automatically pay each month either on the 1st or the 15th of the month, I just quickly open statements each month check that the interest rate has not changed, check the min, and check that my payment is still above this min and I'm done.

For daily use cards I'm down to just Amex Zync, Toyota Visa and now the stupid Best Buy Mastercard... seriously considering just going back to the 2 though.

thanks for your metaphors :smileyhappy:

Fico Scores: EQ 657 Cabelas, TU 665 GE, EX 699 Wells (07-27-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Fidelity Amex $25k (AU)
Lowest Limit: Buckle $250
Over 30 Cards in between :smileytongue:
New Contributor
techman2008
Posts: 71
Registered: ‎10-25-2008

Re: I wish INQ didn't count...

Yep it's addicting alright lol.  


Starting Score: TU 797 EQ 798 EX 774 10/26/2008
Current Score: TU 787 EQ 784 EX ??? 09/19/2010
Goal Score: 790


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Senior Contributor
O6
Posts: 3,626
Registered: ‎10-13-2009

Re: I wish INQ didn't count...


haulingthescoreup wrote:

Just wait until all y'all with two fistfulls of cards have to put up with the care and feeding of those things for a year or so. Gotta use this one, HSBC's quick to close; whoops, double rewards this quarter, this one will have to be the grocery/ gas card; never gonna get a CLI if I don't use this thing, so I guess I'd better stick it back in my wallet; wait, when was the due date on this one? Do I have a balance?? Am I LATE???

 

You know those poor people that you see on TV with the Animal Control officers carrying out cages and cages of starving critters? They no longer had pets; they just had more and more and more and more animals.

 

Credit is a tool. It can be fun to acquire new credit, just as it can be fun to get the latest attachment to the Dremel Rotary Super-Duper-Polisher. But having a garage full of unused tools makes no sense. It costs money, and it clutters your mind as well as the garage. And it's the same with CC's.

 

To copy/ paste from my own siggy: * Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?

 

OK, enough of my tortured similes and metaphors for tonight...


Wait?  I've already got between 40 to 50.  I set up a spreadsheet for credit card rotation, a database for every little detail about each card / card issuer and enter each and every debit / credit to accounting software  Then every weekend I go through and PIF any card with a balance.

 

Credit is a tool.  Credit is a hobby.  Credit creates job opportunities*.  Credit card miles pay for 4 RT first-class tickets per year when we go home on leave. 

 

God bless credit card junkies and those who stiff banks and credit card companies!  :smileyhappy:

IAALBNYL
Valued Contributor
Uborrow-Upay
Posts: 2,710
Registered: ‎10-16-2008

Re: I wish INQ didn't count...

 


O6 wrote:  Wait?  I've already got between 40 to 50.

That's not a lot, over your 91 years...

 

Senior Contributor
O6
Posts: 3,626
Registered: ‎10-13-2009

Re: I wish INQ didn't count...


Uborrow-Upay wrote:

 


O6 wrote:  Wait?  I've already got between 40 to 50.

That's not a lot, over your 91 years...

 


Absolutely right!  :smileyhappy:

 

I am behind the curve.  I figure two per year is reasonable.  As soon as my INQs drop to zero, I am going on an app spree. 

IAALBNYL
Senior Contributor
O6
Posts: 3,626
Registered: ‎10-13-2009

Re: I wish INQ didn't count...

Oh, and the best thing about being 91 ...

 

... a wife less than half your age.  :smileyhappy:

 

 

 

IAALBNYL
Valued Contributor
Uborrow-Upay
Posts: 2,710
Registered: ‎10-16-2008

Re: I wish INQ didn't count...

Yup, that beats drooling, for sure.  :smileyhappy:

 

 

 

Senior Contributor
O6
Posts: 3,626
Registered: ‎10-13-2009

Re: I wish INQ didn't count...


Uborrow-Upay wrote:

Yup, that beats drooling, for sure.  :smileyhappy:

  


Ah, my friend, but I still drool.

 

You see, we've got this 26-year-old live-in housekeeper.  :smileywink:

IAALBNYL
Moderator Emerita
Community Leader
Epic Contributor
haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007

Re: I wish INQ didn't count...

 


O6 wrote:

 

...Credit is a tool.  Credit is a hobby.  Credit creates job opportunities*.  Credit card miles pay for 4 RT first-class tickets per year when we go home on leave. 


Well, you know me, I'm all about the rewards aspects of CC's. But isn't it a bit inefficient to have rewards scattered all over 40+ cards? It seems like you would have 438 points on one card, and 225 miles on another card, and $11.36 cash back on a third, and on and on. Redemption sounds like a huge pain.

 

 

And many cards have tiered rewards system, where the points accruals and/or redemption rates get better with more card usage. Seems like having to spread purchases all over the place potentially lessens rewards, not increases them.

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Senior Contributor
O6
Posts: 3,626
Registered: ‎10-13-2009

Re: I wish INQ didn't count...


haulingthescoreup wrote:

 


O6 wrote:

 

...Credit is a tool.  Credit is a hobby.  Credit creates job opportunities*.  Credit card miles pay for 4 RT first-class tickets per year when we go home on leave. 


Well, you know me, I'm all about the rewards aspects of CC's. But isn't it a bit inefficient to have rewards scattered all over 40+ cards? It seems like you would have 438 points on one card, and 225 miles on another card, and $11.36 cash back on a third, and on and on. Redemption sounds like a huge pain.

 

 

And many cards have tiered rewards system, where the points accruals and/or redemption rates get better with more card usage. Seems like having to spread purchases all over the place potentially lessens rewards, not increases them.


 

Got that all figured out.  :smileywink:

 

The vast majority of them I just use once or twice every two months.  The only three that I use religiously are two that have good cashback bonuses and one that is really good with miles. 

 

Now, do I need all those cards?  Hell, no!  But some people collect stamps and others collect coins.  Me?  I collect cards and CLs. 

IAALBNYL

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