Reply
Established Contributor
Posts: 924
Registered: ‎08-24-2013
0

Things You Should Know

[ Edited ]

Hello!

 

After reading a few threads about certain banks, I thought it would be extremely helpful if others could share their experiences with certain companies. Of course it's always a YMMV situation, but I'd be more than interested in learning what not to do with certain companies.

 

Like, Who's inquiry sensitive? Who's good about CLI? Who's easy/hard to recon with? Who''ll give you an account and then immediately close it if you apply someone else in a certain amount of time? Who'll CLD you if you have high utlization on their card or others? Who loves for you to carry a balance? Who'll penalize you for carrying one?

 

...and anything else you feel others should know when dealing with certain banks. 

 

I'll start.

 

 

Chase - doesn't appear to be inquiry sensitive. LOL

Discover IT-[15,600] Double Cash-[10,000] Home Projects Visa-[7,700] Chase Amazon-[6,000] Walmart Mastercard-[6,000] Paypal Xtras Mastercard-[6,000] SYNCB Amazon-[5,000] Slate-[5,000] Sallie Mae-[5,000] Overstock-[4,300] QuickSilver-[4,000] Double Cash-[4,000] Bclays Rewards Mastercard-[4,000] Mypoints Visa-[3,750] Ebates Visa-[3,200] Quicksilver-[3,000] Discover IT-[3,000] BOA Cash Rewards-[2,500] Sony Visa-[2,150] Vicky's Secret-[1,750] Diamond Preferred-[1,500] DSW Visa-[1,000] Simplicity-[500]{Paypal Credit -2,070/ Newegg Preferred-2,000} TCL:[104,950] EX-(20) TU-(15) EQ-(11) Last app: 4/22/15
Valued Contributor
Posts: 3,096
Registered: ‎01-26-2012
0

Re: Things You Should Know

Don't think it is good idea to try to make a "master thread" of all credit cards and their approval issues.  We have and need a whole forum to do this.  I would recommend just looking up the banks as you can or start one about a particular card/bank.  As FYI, different cards in same bank have different approval standards and particulars so sometimes hard to generalize.  Can pretty much tell you Best Buy card which is now with its third bank in 1 year has generous approval standards as, I would guess, required by contract.

               LIMITS IN CARD DESCRIPTIONS
Established Contributor
Posts: 924
Registered: ‎08-24-2013
0

Re: Things You Should Know


Crashem wrote:

Don't think it is good idea to try to make a "master thread" of all credit cards and their approval issues.  We have and need a whole forum to do this.  I would recommend just looking up the banks as you can or start one about a particular card/bank.  As FYI, different cards in same bank have different approval standards and particulars so sometimes hard to generalize.  Can pretty much tell you Best Buy card which is now with its third bank in 1 year has generous approval standards as, I would guess, required by contract.


I was actually thinking it was easier to have one thread instead of multiple threads with tidbits of info but maybe others will share your views. 

Discover IT-[15,600] Double Cash-[10,000] Home Projects Visa-[7,700] Chase Amazon-[6,000] Walmart Mastercard-[6,000] Paypal Xtras Mastercard-[6,000] SYNCB Amazon-[5,000] Slate-[5,000] Sallie Mae-[5,000] Overstock-[4,300] QuickSilver-[4,000] Double Cash-[4,000] Bclays Rewards Mastercard-[4,000] Mypoints Visa-[3,750] Ebates Visa-[3,200] Quicksilver-[3,000] Discover IT-[3,000] BOA Cash Rewards-[2,500] Sony Visa-[2,150] Vicky's Secret-[1,750] Diamond Preferred-[1,500] DSW Visa-[1,000] Simplicity-[500]{Paypal Credit -2,070/ Newegg Preferred-2,000} TCL:[104,950] EX-(20) TU-(15) EQ-(11) Last app: 4/22/15
Valued Contributor
Posts: 3,096
Registered: ‎01-26-2012
0

Re: Things You Should Know

I guess personal opinion, but much harder for me to look through a thread for all comments about particular card since I basically have to read comments from all others.  It is already hard enough with individual threads as you need to read through to see if hints/tips have changed.  For example, AMEX reccently seems to be pulling from any and all credit bureaus, but if you had asked 6 months ago, it would have been EXP 95% of the time.

               LIMITS IN CARD DESCRIPTIONS
Established Contributor
Posts: 924
Registered: ‎08-24-2013
0

Re: Things You Should Know

[ Edited ]

Crashem wrote:

I guess personal opinion, but much harder for me to look through a thread for all comments about particular card since I basically have to read comments from all others.  It is already hard enough with individual threads as you need to read through to see if hints/tips have changed.  For example, AMEX reccently seems to be pulling from any and all credit bureaus, but if you had asked 6 months ago, it would have been EXP 95% of the time.



Crashem wrote:

I guess personal opinion, but much harder for me to look through a thread for all comments about particular card since I basically have to read comments from all others.  It is already hard enough with individual threads as you need to read through to see if hints/tips have changed.  For example, AMEX reccently seems to be pulling from any and all credit bureaus, but if you had asked 6 months ago, it would have been EXP 95% of the time.


That's good to know!

 

Speaking of Amex...do they have cards for the everyday person? Ones with average incomes? Their card descriptions, and sometimes high fees, make it seem they're for business purposes. 

Discover IT-[15,600] Double Cash-[10,000] Home Projects Visa-[7,700] Chase Amazon-[6,000] Walmart Mastercard-[6,000] Paypal Xtras Mastercard-[6,000] SYNCB Amazon-[5,000] Slate-[5,000] Sallie Mae-[5,000] Overstock-[4,300] QuickSilver-[4,000] Double Cash-[4,000] Bclays Rewards Mastercard-[4,000] Mypoints Visa-[3,750] Ebates Visa-[3,200] Quicksilver-[3,000] Discover IT-[3,000] BOA Cash Rewards-[2,500] Sony Visa-[2,150] Vicky's Secret-[1,750] Diamond Preferred-[1,500] DSW Visa-[1,000] Simplicity-[500]{Paypal Credit -2,070/ Newegg Preferred-2,000} TCL:[104,950] EX-(20) TU-(15) EQ-(11) Last app: 4/22/15
Established Contributor
Posts: 618
Registered: ‎01-04-2009
0

Re: Things You Should Know


JSS3 wrote:

Crashem wrote:

I guess personal opinion, but much harder for me to look through a thread for all comments about particular card since I basically have to read comments from all others.  It is already hard enough with individual threads as you need to read through to see if hints/tips have changed.  For example, AMEX reccently seems to be pulling from any and all credit bureaus, but if you had asked 6 months ago, it would have been EXP 95% of the time.



Crashem wrote:

I guess personal opinion, but much harder for me to look through a thread for all comments about particular card since I basically have to read comments from all others.  It is already hard enough with individual threads as you need to read through to see if hints/tips have changed.  For example, AMEX reccently seems to be pulling from any and all credit bureaus, but if you had asked 6 months ago, it would have been EXP 95% of the time.


That's good to know!

 

Speaking of Amex...do they have cards for the everyday person? Ones with average incomes? Their card descriptions, and sometimes high fees, make it seem they're for business purposes. 


I would say absolutely, yes!

 

Blue Cash Preferred with 75$ AF:

 

6% cashback groceries

3% for gas + dept stores

1% other

 

Blue Cash Everyday with no AF

3% groceries

2% gas/dept stores

1% other

                    
    $17.3K          $500              $7K              $15K              $5K             $2300          $3200          $2000          $1500          $1000           $8100

Garden Since: 9.25.2013
Established Contributor
Posts: 924
Registered: ‎08-24-2013
0

Re: Things You Should Know


Brusilov wrote:

JSS3 wrote:

Crashem wrote:

I guess personal opinion, but much harder for me to look through a thread for all comments about particular card since I basically have to read comments from all others.  It is already hard enough with individual threads as you need to read through to see if hints/tips have changed.  For example, AMEX reccently seems to be pulling from any and all credit bureaus, but if you had asked 6 months ago, it would have been EXP 95% of the time.



Crashem wrote:

I guess personal opinion, but much harder for me to look through a thread for all comments about particular card since I basically have to read comments from all others.  It is already hard enough with individual threads as you need to read through to see if hints/tips have changed.  For example, AMEX reccently seems to be pulling from any and all credit bureaus, but if you had asked 6 months ago, it would have been EXP 95% of the time.


That's good to know!

 

Speaking of Amex...do they have cards for the everyday person? Ones with average incomes? Their card descriptions, and sometimes high fees, make it seem they're for business purposes. 


I would say absolutely, yes!

 

Blue Cash Preferred with 75$ AF:

 

6% cashback groceries

3% for gas + dept stores

1% other

 

Blue Cash Everyday with no AF

3% groceries

2% gas/dept stores

1% other


Blue Cash Everyday it is! (when I leave the garden next year). I thought Amex was out of my league, previously. Thanks!

Discover IT-[15,600] Double Cash-[10,000] Home Projects Visa-[7,700] Chase Amazon-[6,000] Walmart Mastercard-[6,000] Paypal Xtras Mastercard-[6,000] SYNCB Amazon-[5,000] Slate-[5,000] Sallie Mae-[5,000] Overstock-[4,300] QuickSilver-[4,000] Double Cash-[4,000] Bclays Rewards Mastercard-[4,000] Mypoints Visa-[3,750] Ebates Visa-[3,200] Quicksilver-[3,000] Discover IT-[3,000] BOA Cash Rewards-[2,500] Sony Visa-[2,150] Vicky's Secret-[1,750] Diamond Preferred-[1,500] DSW Visa-[1,000] Simplicity-[500]{Paypal Credit -2,070/ Newegg Preferred-2,000} TCL:[104,950] EX-(20) TU-(15) EQ-(11) Last app: 4/22/15
Established Contributor
Posts: 618
Registered: ‎01-04-2009
0

Re: Things You Should Know


JSS3 wrote:

Brusilov wrote:

JSS3 wrote:

Crashem wrote:

I guess personal opinion, but much harder for me to look through a thread for all comments about particular card since I basically have to read comments from all others.  It is already hard enough with individual threads as you need to read through to see if hints/tips have changed.  For example, AMEX reccently seems to be pulling from any and all credit bureaus, but if you had asked 6 months ago, it would have been EXP 95% of the time.



Crashem wrote:

I guess personal opinion, but much harder for me to look through a thread for all comments about particular card since I basically have to read comments from all others.  It is already hard enough with individual threads as you need to read through to see if hints/tips have changed.  For example, AMEX reccently seems to be pulling from any and all credit bureaus, but if you had asked 6 months ago, it would have been EXP 95% of the time.


That's good to know!

 

Speaking of Amex...do they have cards for the everyday person? Ones with average incomes? Their card descriptions, and sometimes high fees, make it seem they're for business purposes. 


I would say absolutely, yes!

 

Blue Cash Preferred with 75$ AF:

 

6% cashback groceries

3% for gas + dept stores

1% other

 

Blue Cash Everyday with no AF

3% groceries

2% gas/dept stores

1% other


Blue Cash Everyday it is! (when I leave the garden next year). I thought Amex was out of my league, previously. Thanks!


Don't fully discount the AF version - as long as you spend more than $225/mo on average (the breakeven point) for groceries you'd make more cashback with the Preferred version.

 

Cap for grocery purchases is $6000 in annual spending.  So given spending in the range of $225-$500/mo that gives an effective cashback % of ~3-4.75% including fee.

                    
    $17.3K          $500              $7K              $15K              $5K             $2300          $3200          $2000          $1500          $1000           $8100

Garden Since: 9.25.2013
Regular Contributor
Posts: 104
Registered: ‎08-30-2013
0

Re: Things You Should Know

>Who''ll give you an account and then immediately close it if you apply someone else in a certain amount of time?

 

Who does this? I see people post about app sprees here every day so I can't imagine it's that common...

In my wallet, from oldest to newestComing soon!
Established Contributor
Posts: 618
Registered: ‎01-04-2009
0

Re: Things You Should Know


DieGo2SHAE wrote:

>Who''ll give you an account and then immediately close it if you apply someone else in a certain amount of time?

 

Who does this? I see people post about app sprees here every day so I can't imagine it's that common...


I've heard Barclay's can be touchy about new accounts opened shortly after their card.

                    
    $17.3K          $500              $7K              $15K              $5K             $2300          $3200          $2000          $1500          $1000           $8100

Garden Since: 9.25.2013
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.