@Fico2Go wrote:
@red259 wrote:
@Fico2Go wrote:
@longtimelurker wrote:
@Fico2Go wrote:
@jsucool76 wrote:
@Fico2Go wrote:
@longtimelurker wrote:
@red259 wrote:
@Fico2Go wrote:
@jsucool76 wrote:
@Fico2Go wrote:With key bonuses getting stripped from the prg I really don't have a reason to keep the PRG. So I thought.
Then I realize that the PRG can give you almost two months of interest free on purchases + an extra month of credit usage without effecting UTIL on all 3 CRAs.
For the sophosticated PRG user you can also pull cash out of the PRG interest free for two months.
Plus the peace of mind in knowing that I can charge NPSL.
Have I missed out on anything else?
What do you mean by that?
I find the PRG to be entirely obsolete now that the ED/EDP cards are here. PRG is still lagging behind the CSP in my opinion, which has a lower AF and bonus category spend on dining.
Only benefit I've had from my PRG lately was a 40% transfer bonus to avios.
Basically if u make a purchase 1 day after statement cut, u won't receive a statement til next month. Then you have another 25 days to pay? During this time no need to pay and no interest. Btu the biggest advantage for me seems to be the extra month of credit usage without impacting UTIL.
I don't understand the point here. How would this be different than any other card? You would still have to pay all the charges that occured before the statement cut correct?
Yes, other cards give you the same interest free period. I think he is focusing more on the balance that would be reported for a cc, not impacting UTIL here.
To me, this is util over-worship, whatever low util is worth (IMO $0!) it probably isn't worth $175 a year
Yes it is a big hurdle. And I am still tallying whether to cancel today or tomorrow. Basically going back the past year to see how many opportunities I benefited/profited from having the UTIL not reporting.
How do you know whether you actually benefited from the balance not counting in your util?
Unless you were approved for something during a period where the balance wasn't counted toward util, it's not really a benefit. And even then, 99.9% of the myfico members know "well If I'm applying for something I should probably not have a high util"
Even still, I've never been denied for something due to util once I got my credit up and running.
You know when you can get SP credit line increases regularly. There's no way of knowing anything for certain. But we can calculate our actions.
And most people want SP CLIs just to pad util, so this is sort of circular....
I think you of all people would understand what I'm doing. Basically the PRG acts as a good float for my other activties on the BC. I dont want to put everything on the OBC and thus shifts some grocery/gas purchase to the PRG for balance.
I did this for my recent app cycle. I wanted to keep util down but had a lot of spend to do at end of the year, so I shifted a large portion of it to my PRG which allowed me to show zero balance on my revolvers without having to worry about paying every single card balance to zero before statement cut.
Looks like we find the same value in this card. Question now is whether this slight convenience is worth $175 a year.
For me the answer is no. If I had a lot of airline spend or was using the other benefits on the card then I would reconsider, but I got this card knowing it would only be for the one year. It was a foot in the door card with amex and has served its purpose. Technically I have an ink bold where I can do the same thing with if need be, although I like to keep that for pure business spend.
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