topic Re: June Credit AMA [Ask Me Anything] live with user @CreditAddict in Credit Cards

June Credit AMA [Ask Me Anything] live with user @CreditAddict - Part One.

Anonymous — Wed, 15 Jun 2016 05:15:16 GMT

Hello people,

For this month, we are going to have user @CreditAddicton and he will be taking questions about his decisions, why he join myFico, what he has learn, what he likes, what he doesn't like etc. Feel free to ask any questions especially thought provoking one's but be polite about it. The goal of it is not to be judgemental but rather why we on the board arrive at certain decisions that some people think are insane.

The second goal is to use this as a learning process and also to help new people joining th board so that they don't make certain bad decisions. As you know, @CreditAddict has been on the board for a long time with over 25,000 posts and does make some interesting decisions. So it will be nice to get an insight into his thought process.

DONT'S: Please, no snarky comments. Lets respect the user and let's get started..

I will get us started.. @CreditAddict, can you tell us a little bit about yourself?

Re: June Credit AMA [Ask Me Anything] live with user @CreditAddict

Broke_Triathlete — Wed, 15 Jun 2016 03:08:50 GMT

Hey CA,

What got you addicted to credit? What is your biggest tip for new people joining the forums looking for good advice?

Re: June Credit AMA [Ask Me Anything] live with user @CreditAddict

Creditaddict — Wed, 15 Jun 2016 03:08:59 GMT

@Anonymous wrote:
Hello people,

@For this month, we are going to have user @CreditAddicton and he will be taking questions about his credit decisions, why he join myFico, what he has learn, what he likes, what he doesn't like etc. Feel free to ask any questions especially thought provoking one's but be polite about it. The goal of the AMA is not to be judgemental but rather why we on the board arrive at certain decisions that some people think are insane.

@Anonymous second goal is to use this as a learning process and also to help new people joining th board so that they don't make certain bad decisions. As you know, @Creditaddict has been on the board for a long time with over 25,000 posts and does make some interesting decisions. So it will be nice to get an insight into his thought process.

DONT'S: Please, no snarky comments. Lets respect the user and let's get started..

@I will get us started.. @Creditaddict, can you tell us a little bit about yourself?

I'm a 35-year-old gay man with a fiance and 3 kids (dogs) Can't give up the dueling income just yet

We are getting married this year.

He works full time along with we now own 1 laundry (soon to be 2) and a catering company with another partner.

I love everything credit as most of you know but I also LOVE to help others go through the journey or the struggle and get credit on track so it's a power tool for you instead of something that owns you.

Re: June Credit AMA [Ask Me Anything] live with user @CreditAddict

darwin_wins — Wed, 15 Jun 2016 03:11:54 GMT

How do you manage to take care of laundromat and still be on MF so much?

Also have you stopped apping? Are you going to be new Ron1?

P.S. : I wonder what happened to RON1

Re: June Credit AMA [Ask Me Anything] live with user @CreditAddict

Creditaddict — Wed, 15 Jun 2016 03:12:07 GMT

@Broke_Triathlete wrote:
Hey CA,

What got you addicted to credit? What is your biggest tip for new people joining the forums looking for good advice?

I got addicted to credit because I felt it gave me power... In my earlier years up to Suze Orman time it was the power of things I couldn't do without credit and the power to impress people that didn't give a rats 15 minutes after I left... but as I have gotten older and fixed those mistakes I have learned that credit can be an amazingly powerful "TOOL" to achieve things... I would not have been able to buy my first laundromat if it hadn't been for credit and that has really changed the direction of my life over the last couple years.

Advice for those coming into it... Ask lots of questions, take a minute to see how each of the answers might affect or play into your goals with credit and your lifestyle and then make an educated decision for yourself and MOST importantly... DONT DO SOMETHING OUT OF FEAR!

Re: June Credit AMA [Ask Me Anything] live with user @CreditAddict

Anonymous — Wed, 15 Jun 2016 03:13:11 GMT

@Creditaddict wrote:
@Anonymous wrote:
Hello people,

@For this month, we are going to have user @CreditAddicton and he will be taking questions about his credit decisions, why he join myFico, what he has learn, what he likes, what he doesn't like etc. Feel free to ask any questions especially thought provoking one's but be polite about it. The goal of the AMA is not to be judgemental but rather why we on the board arrive at certain decisions that some people think are insane.

@Anonymous second goal is to use this as a learning process and also to help new people joining th board so that they don't make certain bad decisions. As you know, @Creditaddict has been on the board for a long time with over 25,000 posts and does make some interesting decisions. So it will be nice to get an insight into his thought process.

DONT'S: Please, no snarky comments. Lets respect the user and let's get started..

@I will get us started.. @Creditaddict, can you tell us a little bit about yourself?
I'm a 35-year-old gay man with a fiance and 3 kids (dogs) Can't give up the dueling income just yet
We are getting married this year.
He works full time along with we now own 1 laundry (soon to be 2) and a catering company with another partner.
I love everything credit as most of you know but I also LOVE to help others go through the journey or the struggle and get credit on track so it's a power tool for you instead of something that owns you.

First of, I want to say I am truly about what happen in Orlando. I hope you are well and aren't in fear as it is just senseless..

Secondly, holy smokes, for some reason I thought you were like 60 years old [ Please don't hold it against me].

Re: June Credit AMA [Ask Me Anything] live with user @CreditAddict

Anonymous — Wed, 15 Jun 2016 03:15:42 GMT

Oh no. I'm older than Credit Addict.

How many cards do you actually put a charge on each month, and how do you keep them organized to be sure they are all paid on time?

Re: June Credit AMA [Ask Me Anything] live with user @CreditAddict

CreditUnionFan — Wed, 15 Jun 2016 03:17:01 GMT

@Creditaddict wrote:

Advice for those coming into it... Ask lots of questions, take a minute to see how each of the answers might affect or play into your goals with credit and your lifestyle and then make an educated decision for yourself and MOST importantly... DONT DO SOMETHING OUT OF FEAR!

When you say "Don't Do Something Out of Fear"... How do you deal with FOMO - Fear Of Missing Out?

Re: June Credit AMA [Ask Me Anything] live with user @CreditAddict

Creditaddict — Wed, 15 Jun 2016 03:17:35 GMT

@darwin_wins wrote:
How do you manage to take care of laundromat and still be on MF so much?

Also have you stopped apping? Are you going to be new Ron1?

P.S. : I wonder what happened to RON1

HAHA, good question. We actually suffered a fire (started next door to us in the ceiling of the restaurant (electrical)) 6 days after closing escrow! I think I set the record!

Anyway, That has given us the gift to expand our businesses but also gave me lots of time to discover how much I like MyFico and Red Wine

I have moved my applying to a more business-minded direction (at least I try, I did "have" to get the new Marvel card even though I'm not a comic guy and of course the new Blispay!) but otherwise, I have locked all my reports and my partner has done the same and I only unlocked them last week to purchase our first delivery van and then while I was at it I leased a new Mercedes for myself (clearly a needed purchase and I was already out of the garden, right?!)

It's always a battle for me, it's half research for me to see if I can get it, what things on my reports do or don't bother a creditor and half I just love an approval!

but I'm trying to be more mindful of the future and that mortgages are not as forgiving on a 120 inquiries as say, Nissan!

Re: June Credit AMA [Ask Me Anything] live with user @CreditAddict

baller4life — Wed, 15 Jun 2016 03:33:15 GMT

Hi Creditaddict. I noticed you have slowed down considerably apping new cards. What made you decide to slow down building your portfolio?

Re: June Credit AMA [Ask Me Anything] live with user @CreditAddict

Creditaddict — Wed, 15 Jun 2016 03:19:39 GMT

@Anonymous wrote:
@Creditaddict wrote:
@Anonymous wrote:
Hello people,

@For this month, we are going to have user @CreditAddicton and he will be taking questions about his credit decisions, why he join myFico, what he has learn, what he likes, what he doesn't like etc. Feel free to ask any questions especially thought provoking one's but be polite about it. The goal of the AMA is not to be judgemental but rather why we on the board arrive at certain decisions that some people think are insane.

@Anonymous second goal is to use this as a learning process and also to help new people joining th board so that they don't make certain bad decisions. As you know, @Creditaddict has been on the board for a long time with over 25,000 posts and does make some interesting decisions. So it will be nice to get an insight into his thought process.

DONT'S: Please, no snarky comments. Lets respect the user and let's get started..

@I will get us started.. @Creditaddict, can you tell us a little bit about yourself?
I'm a 35-year-old gay man with a fiance and 3 kids (dogs) Can't give up the dueling income just yet
We are getting married this year.
He works full time along with we now own 1 laundry (soon to be 2) and a catering company with another partner.
I love everything credit as most of you know but I also LOVE to help others go through the journey or the struggle and get credit on track so it's a power tool for you instead of something that owns you.
First of, I want to say I am truly about what happen in Orlando. I hope you are well and aren't in fear as it is just senseless..

Secondly, holy smokes, for some reason I thought you were like 60 years old [ Please don't hold it against me].

it's always scary and sad that we seem to need some of the biggest tragedies before we create change in this country... but all I can do is live my life and try to help who I can help in the areas of my life that allow me to do that and just stay positive as it's hard to not feel a little better when you are surrounded by happy people!

Re: June Credit AMA [Ask Me Anything] live with user @CreditAddict

Broke_Triathlete — Wed, 15 Jun 2016 03:21:19 GMT

@Creditaddict wrote:
@Broke_Triathlete wrote:
Hey CA,

What got you addicted to credit? What is your biggest tip for new people joining the forums looking for good advice?
I got addicted to credit because I felt it gave me power... In my earlier years up to Suze Orman time it was the power of things I couldn't do without credit and the power to impress people that didn't give a rats 15 minutes after I left... but as I have gotten older and fixed those mistakes I have learned that credit can be an amazingly powerful "TOOL" to achieve things... I would not have been able to buy my first laundromat if it hadn't been for credit and that has really changed the direction of my life over the last couple years.

Advice for those coming into it... Ask lots of questions, take a minute to see how each of the answers might affect or play into your goals with credit and your lifestyle and then make an educated decision for yourself and MOST importantly... DONT DO SOMETHING OUT OF FEAR!

That's awesome. Regardless of what Dave Ramsey or Suze Orman says, credit is important. They used it at points in their life. But they are so rich now it's easy for them to say, "Don't use that credit crap...lol"

Congrats on the laundry mat. Do you have other hobbies other than credit?

Re: June Credit AMA [Ask Me Anything] live with user @CreditAddict

Anonymous — Wed, 15 Jun 2016 03:24:53 GMT

@darwin_wins wrote:
How do you manage to take care of laundromat and still be on MF so much?

Also have you stopped apping? Are you going to be new Ron1?

P.S. : I wonder what happened to RON1

Hmm.. Good mention as I forgot about him. He hasn't been on in a while. I hope all is well with him.

@Anonymous, how many credit cards do you have now?

Re: June Credit AMA [Ask Me Anything] live with user @CreditAddict

CreditUnionFan — Wed, 15 Jun 2016 03:24:59 GMT

@Creditaddict wrote:
@darwin_wins wrote:
How do you manage to take care of laundromat and still be on MF so much?

Also have you stopped apping? Are you going to be new Ron1?

P.S. : I wonder what happened to RON1
HAHA, good question. We actually suffered a fire (started next door to us in the ceiling of the restaurant (electrical)) 6 days after closing escrow! I think I set the record!
Anyway, That has given us the gift to expand our businesses but also gave me lots of time to discover how much I like MyFico and Red Wine

I have moved my applying to a more business-minded direction (at least I try, I did "have" to get the new Marvel card even though I'm not a comic guy and of course the new Blispay!) but otherwise, I have locked all my reports and my partner has done the same and I only unlocked them last week to purchase our first delivery van and then while I was at it I leased a new Mercedes for myself (clearly a needed purchase and I was already out of the garden, right?!)

It's always a battle for me, it's half research for me to see if I can get it, what things on my reports do or don't bother a creditor and half I just love an approval!
but I'm trying to be more mindful of the future and that mortgages are not as forgiving on a 120 inquiries as say, Nissan!

And while you were at it, you didn't apply for the Mercedes Benz Amex? How did you find the willpower?

Re: June Credit AMA [Ask Me Anything] live with user @CreditAddict

Creditaddict — Wed, 15 Jun 2016 03:25:47 GMT

@Anonymous wrote:
Oh no. I'm older than Credit Addict.

How many cards do you actually put a charge on each month, and how do you keep them organized to be sure they are all paid on time?

Walmart MC - someone else uses

Cabelas - someone else uses

Burbank City FCU Visa - someone else uses (usually small amounts on 1-2 of these 3 listed.

76 Gas Card - On our cars

Amazon Store Card - online and almost all our shopping including grocery

My 2 cards that I carry in my wallet: Ritz and Amex platinum right now. (all our household bills go to one of these also) stopped using platinum already though because we hit the bonus.

I may have a bill here and there on others... like today I got ebates and it's $10.98

I bill our unlimited car washes to another card.

and I have Plum for 1 business

and Chase Ink as primary for other business.

I don't really use that many on a regular and next week Citi Costco will become #1

it's getting a little more tricky as we get closer to construction being done on the first laundry as I'm paying our contractor on 100% credit card (THANK YOU!) but we will have to revolve some large balances here shortly for a little bit but doesn't change what we carry and use in our wallet and that's just 2 cards for personal with 1 being primary and 1 as backup.

Re: June Credit AMA [Ask Me Anything] live with user @CreditAddict

Anonymous — Wed, 15 Jun 2016 03:26:24 GMT

Hi CA! I don't know who you are, but am glad you're here. Today was a sad day for me. Anything you want to share to cheer me up? 😅

Re: June Credit AMA [Ask Me Anything] live with user @CreditAddict

Creditaddict — Wed, 15 Jun 2016 03:26:32 GMT

@CreditUnionFan wrote:
@Creditaddict wrote:

Advice for those coming into it... Ask lots of questions, take a minute to see how each of the answers might affect or play into your goals with credit and your lifestyle and then make an educated decision for yourself and MOST importantly... DONT DO SOMETHING OUT OF FEAR!
When you say "Don't Do Something Out of Fear"... How do you deal with FOMO - Fear Of Missing Out?

GOT ME... I don't deal with missing out very well when it comes to a hot new card

Re: June Credit AMA [Ask Me Anything] live with user @CreditAddict

ddemari — Wed, 15 Jun 2016 03:27:58 GMT

Hi Ca- exciting to see you here tonight! i feel like you have you a serious amount of cards, i have managed to gather as this month, 78 credt cards. Someone like you has a lot of cards to i believe, its shocking to believe that more still can be had as i know there are more approvals out there for us, but do you get to a point where you honestly cant see another envelope waiting for you or will that day never come for you? my day of mail excitement has simmered down.

EDIT_ maybe i have way more cards than u lol.

Re: June Credit AMA [Ask Me Anything] live with user @CreditAddict

CreditUnionFan — Wed, 15 Jun 2016 03:27:38 GMT

@Anonymous wrote:
@darwin_wins wrote:
How do you manage to take care of laundromat and still be on MF so much?

Also have you stopped apping? Are you going to be new Ron1?

P.S. : I wonder what happened to RON1
Hmm.. Good mention as I forgot about him. He hasn't been on in a while. I hope all is well with him.

@Anonymous, how many credit cards do you have now?

Do tell... how many cards, total lines, personal, business, AUs?

Is there still a credit card that taunts you and makes you want to come out of the garden?

Re: June Credit AMA [Ask Me Anything] live with user @CreditAddict

Creditaddict — Wed, 15 Jun 2016 03:29:36 GMT

@baller4life wrote:
Hi Creditaddict. I noticed you have slowed down considerable apping new cards. What made you decide to slow down building your portfolio?

Really it was two parts probably, both kind of circling around our business.

I wanted to build up the limits on the cards I could use at low rates the highest with combining and such and also prep my credit for our 2nd laundry and the future of that.

We are doing a lot in 2016 and all of it wasn't really planned but opportunities presented themselves so I am shuffling to accommodate!