NFCU cashRewards
Starting Score: 11/29/12 TU 527; EQ 565; EX 564 fako - bk7 dc'd 2/15/13
New goal 675
@Jutz wrote:
@Revelate wrote:
@longtimelurker wrote:I guess if your goal is reward-maximization-per-transaction, and you have enough cards, there shouldn't be an everyday card! Using a default is a sign that you have failed to get the "good" card for that transaction....
Or that you're playing a different game than rewards
.
Vis a vis my everyday card being the BCP as I'm ruthlessly chasing 3X CLI's while trying to stay ultra clean for my Hail Mary mortgage next year. I'm almost assuredly stuck in the jumbo space come summer/fall next year, and since everything is going to be playing "let's make a deal" with a couple of loan officers / underwriters to get qualified in that area, I'll happily sacrifice marginal rewards where there isn't a substantial difference.
Ideally my plan was:
Mortgage by end of 2013 (ain't going to happen)
5K tradeline by end of 2013 (did happen, 9K currently on BCP)
I'll take batting .500 when it comes to my annual goals.
TLDR: unless you're gold-plated, there's often more important things than reward maximization.
Confused by your mortgage issues...you should qualify with good rates and low PMI as is...or are you not?
Anyway, on topic, I rotate my Freedom and BCE depending on the purchase, however I eat out pretty often, and I recently got an offer for Citi TY Preferred, so I've been considering that, but haven't done much research. Also, I spend too much at Lowe's so obviously have the Lowe's card for the 5% off.
Completely missed this post, my apologies; the mortgage issues in my case stem from 2 things:
- IRS Tax Lien which just got resolved last month
- Home prices for anywhere I actually want to live moving out of reach
I can probably sort it, just need to take one of the volume of Santa Monica gigs paying enough money that I'll suck up the commute, find a lender that'll do a 41% or 45% jumbo loan on 20% down, and just crawl into whatever I can figuring that unless Prop 13 changes or we completely anhillate the national mortgage slate (removing the tax credit as an example), eventually it's going to be worth more than what I purchased it at.
California real estate is a complete mess from a consumer perspective; people are incredibly disincentivized financially to ever move and the cost of homes are such that even ones buying at current prices (and therefore similar property tax values) it's harder financially to do multiple steps like elsewhere as the fees on origination wind up being 3-4x higher since the prices are 3-4x higher. Just eats away at cash reserves for people in the 10-20% HHI bracket.
if I were a decade younger I'd simply just pickup and move as my professional skillset is emminently portable to any major metropolian area (and probably only reduce my income 20-30k even) and pickup a 4000 square foot house for a song, whereas here it'd be 1500-1800 at best for way more money.
@Revelate wrote:
@Jutz wrote:
@Revelate wrote:
@longtimelurker wrote:I guess if your goal is reward-maximization-per-transaction, and you have enough cards, there shouldn't be an everyday card! Using a default is a sign that you have failed to get the "good" card for that transaction....
Or that you're playing a different game than rewards
Vis a vis my everyday card being the BCP as I'm ruthlessly chasing 3X CLI's while trying to stay ultra clean for my Hail Mary mortgage next year. I'm almost assuredly stuck in the jumbo space come summer/fall next year, and since everything is going to be playing "let's make a deal" with a couple of loan officers / underwriters to get qualified in that area, I'll happily sacrifice marginal rewards where there isn't a substantial difference.
Ideally my plan was:
Mortgage by end of 2013 (ain't going to happen)
5K tradeline by end of 2013 (did happen, 9K currently on BCP)
I'll take batting .500 when it comes to my annual goals.
TLDR: unless you're gold-plated, there's often more important things than reward maximization.
Confused by your mortgage issues...you should qualify with good rates and low PMI as is...or are you not?
Anyway, on topic, I rotate my Freedom and BCE depending on the purchase, however I eat out pretty often, and I recently got an offer for Citi TY Preferred, so I've been considering that, but haven't done much research. Also, I spend too much at Lowe's so obviously have the Lowe's card for the 5% off.
Completely missed this post, my apologies; the mortgage issues in my case stem from 2 things:
- IRS Tax Lien which just got resolved last month
- Home prices for anywhere I actually want to live moving out of reach
I can probably sort it, just need to take one of the volume of Santa Monica gigs paying enough money that I'll suck up the commute, find a lender that'll do a 41% or 45% jumbo loan on 20% down, and just crawl into whatever I can figuring that unless Prop 13 changes or we completely anhillate the national mortgage slate (removing the tax credit as an example), eventually it's going to be worth more than what I purchased it at.
California real estate is a complete mess from a consumer perspective; people are incredibly disincentivized financially to ever move and the cost of homes are such that even ones buying at current prices (and therefore similar property tax values) it's harder financially to do multiple steps like elsewhere as the fees on origination wind up being 3-4x higher since the prices are 3-4x higher. Just eats away at cash reserves for people in the 10-20% HHI bracket.
if I were a decade younger I'd simply just pickup and move as my professional skillset is emminently portable to any major metropolian area (and probably only reduce my income 20-30k even) and pickup a 4000 square foot house for a song, whereas here it'd be 1500-1800 at best for way more money.
Yes, CA housing madness. I was amazed at the starting salaries my daughter's classmates were getting at Facebook and Google, $100K + $100K bonus, which seems a lot for a 22 year old. But then they have to find a place to live! (With Google/Facebook, the free food helps cut down costs, but not enough)
And Rev: I agree with your point about other goals, but I did start off my post with: "I guess if your goal is reward-maximization-per-transaction" which I think indicates I was talking about the sub-case!
@longtimelurker wrote:Yes, CA housing madness. I was amazed at the starting salaries my daughter's classmates were getting at Facebook and Google, $100K + $100K bonus, which seems a lot for a 22 year old. But then they have to find a place to live! (With Google/Facebook, the free food helps cut down costs, but not enough)
And Rev: I agree with your point about other goals, but I did start off my post with: "I guess if your goal is reward-maximization-per-transaction" which I think indicates I was talking about the sub-case!
You did, and admittedly I'm struggling to remember whether I was directing my post to you or more generally. Last few weeks have been a blurry wasteland, time passing like I was back in my heavy drinking days seemingly. Ah well, taking a break soon enough, my apologies regardless.
