topic Re: Does This Make Me a Credit Card Whore? in Credit Cards

Does This Make Me a Credit Card Whore?

Anonymous — Mon, 28 Aug 2017 20:25:37 GMT

In the past I have only opened credit cards based on the card being the highest cash back percentage in a specific category and having no annual fee.

Penfed card 5% for gas

Chase and Discover for the 5% categories

US Bank 5% cell phone

BOA $30.00 each quarter for $75.00 worth of spend

NFCU 3% restaurants

American Express 3% groceries

Citibank for 2% on general spend

Blispay for 2% and six month financing

Capital One 1.5% on general spend

This has required some discipline considering all the credit card approval posts and the must have flavor of the month cards that are touted here on the forum. I have always stuck to the plan but this time is different. I received a pre-approval from Fifth Third Bank for their Trio card which I can not bring myself to throw away even though the card does not improve on any of my cash back percentages nor address any heretofore uncovered category. My dilemma is the no annual fee and a sign-up bonus of $450.00 for $1500.00 spend in the first ninety days. I think I will have to surrender my principles for some of that Fifth Third Bank cash. So to summarize for the credit card sign-up bonus of $450.00 and new checking account bonus $200.00 for a total of $650.00 I believe I shall succumb to Fifth Third’s wiles.

Re: Does This Make Me a Credit Card Whore?

Anonymous — Mon, 28 Aug 2017 20:36:46 GMT

@Anonymous wrote:
In the past I have only opened credit cards based on the card being the highest cash back percentage in a specific category and having no annual fee.

Penfed card 5% for gas
Chase and Discover for the 5% categories
US Bank 5% cell phone
BOA $30.00 each quarter for $75.00 worth of spend
NFCU 3% restaurants
American Express 3% groceries
Citibank for 2% on general spend
Blispay for 2% and six month financing
Capital One 1.5% on general spend

This has required some discipline considering all the credit card approval posts and the must have flavor of the month cards that are touted here on the forum. I have always stuck to the plan but this time is different. I received a pre-approval from Fifth Third Bank for their Trio card which I can not bring myself to throw away even though the card does not improve on any of my cash back percentages nor address any heretofore uncovered category. My dilemma is the no annual fee and a sign-up bonus of $450.00 for $1500.00 spend in the first ninety days. I think I will have to surrender my principles for some of that Fifth Third Bank cash. So to summarize for the credit card sign-up bonus of $450.00 and new checking account bonus $200.00 for a total of $650.00 I believe I shall succumb to Fifth Third’s wiles.

Getting free cash from a bank makes you smart in my opinion. If it does make you a w*ore than I will be right there with you on the street corner.

Re: Does This Make Me a Credit Card Whore?

Anonymous — Mon, 28 Aug 2017 21:00:25 GMT

It's not my place to judge whether you're a whore or not

Those cash-back checking account offers are more trouble than they're worth for me because I have payroll direct deposit and moving that around would create havoc in my life. I'd love the $200, but just can't upturn the apple cart for it.

Re: Does This Make Me a Credit Card Whore?

Anonymous — Mon, 28 Aug 2017 21:04:03 GMT

@Anonymous wrote:
In the past I have only opened credit cards based on the card being the highest cash back percentage in a specific category and having no annual fee.

Penfed card 5% for gas
Chase and Discover for the 5% categories
US Bank 5% cell phone
BOA $30.00 each quarter for $75.00 worth of spend
NFCU 3% restaurants
American Express 3% groceries
Citibank for 2% on general spend
Blispay for 2% and six month financing
Capital One 1.5% on general spend

This has required some discipline considering all the credit card approval posts and the must have flavor of the month cards that are touted here on the forum. I have always stuck to the plan but this time is different. I received a pre-approval from Fifth Third Bank for their Trio card which I can not bring myself to throw away even though the card does not improve on any of my cash back percentages nor address any heretofore uncovered category. My dilemma is the no annual fee and a sign-up bonus of $450.00 for $1500.00 spend in the first ninety days. I think I will have to surrender my principles for some of that Fifth Third Bank cash. So to summarize for the credit card sign-up bonus of $450.00 and new checking account bonus $200.00 for a total of $650.00 I believe I shall succumb to Fifth Third’s wiles.

Just PC the QS to a Premier Dining for the 3% restaurants and you're good! I wish I didn't miss the BBR boat!

Re: Does This Make Me a Credit Card Whore?

DeeBee78 — Mon, 28 Aug 2017 21:23:38 GMT

@Anonymous wrote:
In the past I have only opened credit cards based on the card being the highest cash back percentage in a specific category and having no annual fee.

Penfed card 5% for gas
Chase and Discover for the 5% categories
US Bank 5% cell phone
BOA $30.00 each quarter for $75.00 worth of spend
NFCU 3% restaurants
American Express 3% groceries
Citibank for 2% on general spend
Blispay for 2% and six month financing
Capital One 1.5% on general spend

This has required some discipline considering all the credit card approval posts and the must have flavor of the month cards that are touted here on the forum. I have always stuck to the plan but this time is different. I received a pre-approval from Fifth Third Bank for their Trio card which I can not bring myself to throw away even though the card does not improve on any of my cash back percentages nor address any heretofore uncovered category. My dilemma is the no annual fee and a sign-up bonus of $450.00 for $1500.00 spend in the first ninety days. I think I will have to surrender my principles for some of that Fifth Third Bank cash. So to summarize for the credit card sign-up bonus of $450.00 and new checking account bonus $200.00 for a total of $650.00 I believe I shall succumb to Fifth Third’s wiles.

FYI. you don't need to spend $25 a month on your BoA BBR to get the $30 every quarter. Pretty much any purchase of $5 or more is enough to prevent them from waiving the charge (They're known for crediting charges of less than $5), keeping you eligible for your quarterly bonus.

I put my $9.99 a month Netflix charge on there, and have no issues getting my quarterly reward.

Re: Does This Make Me a Credit Card Whore?

MrDisco99 — Mon, 28 Aug 2017 21:35:05 GMT

@Anonymous wrote:
It's not my place to judge whether you're a whore or not

Those cash-back checking account offers are more trouble than they're worth for me because I have payroll direct deposit and moving that around would create havoc in my life. I'd love the $200, but just can't upturn the apple cart for it.

This is exactly the reason why I haven't pursued those checking bonus offers. I realize I'm leaving money on the table, but rearranging my purchases on credit cards to get bonuses on those is complicated enough as it is.

Re: Does This Make Me a Credit Card Whore?

Caleb87 — Mon, 28 Aug 2017 21:38:13 GMT

Be careful. My wife wnd i just closed our checking accounts with them. They were nothing but headaches for us

Re: Does This Make Me a Credit Card Whore?

DeeBee78 — Mon, 28 Aug 2017 21:41:05 GMT

@MrDisco99 wrote:
@Anonymous wrote:
It's not my place to judge whether you're a whore or not

Those cash-back checking account offers are more trouble than they're worth for me because I have payroll direct deposit and moving that around would create havoc in my life. I'd love the $200, but just can't upturn the apple cart for it.

This is exactly the reason why I haven't pursued those checking bonus offers. I realize I'm leaving money on the table, but rearranging my purchases on credit cards to get bonuses on those is complicated enough as it is.

Same for me. It's been 6 years since I've worked for an employer that allowed self-updates of direct deposit information, so I can't change very easily. At my current employer we can only designate two accounts for DD, so one account has to have a set deposit amount, with the second getting everything over that amount.

Permanently changing from WF to BoA a couple of years ago was a hassle, so I need a good bonus (like the Chase $300 one) to convince me to change again.

Re: Does This Make Me a Credit Card Whore?

Meanmchine — Mon, 28 Aug 2017 23:04:28 GMT

$450 signup bonus? Gonna have to electrify the garden fence again.

Re: Does This Make Me a Credit Card Whore?

Anonymous — Mon, 28 Aug 2017 23:21:45 GMT

@Anonymous wrote:
It's not my place to judge whether you're a whore or not

Those cash-back checking account offers are more trouble than they're worth for me because I have payroll direct deposit and moving that around would create havoc in my life. I'd love the $200, but just can't upturn the apple cart for it.

Why do you have to change your direct deposit to take advantage of a cash back checking account offer? Don't most just require that you open an account? Even if they require some form of DD, I'm pretty sure most banks will count an ACH transfer as a direct deposit.

Re: Does This Make Me a Credit Card Whore?

DeeBee78 — Mon, 28 Aug 2017 23:45:00 GMT

@Anonymous wrote:
@Anonymous wrote:
It's not my place to judge whether you're a whore or not

Those cash-back checking account offers are more trouble than they're worth for me because I have payroll direct deposit and moving that around would create havoc in my life. I'd love the $200, but just can't upturn the apple cart for it.

Why do you have to change your direct deposit to take advantage of a cash back checking account offer? Don't most just require that you open an account? Even if they require some form of DD, I'm pretty sure most banks will count an ACH transfer as a direct deposit.

ACH transfers don't always code as DD, and it varies from bank to bank. For example, ACH transfers from BoA or Capital One 360 (my current banks) to Chase do not trigger as DD, but ACH transfers from other banks like Wells Fargo do. This means that I would need to update my DD infomation with my payroll friends, meeting the $500 a month minimum requirement.

https://www.doctorofcredit.com/knowledge-base/list-methods-banks-count-direct-deposits/

Re: Does This Make Me a Credit Card Whore?

Anonymous — Mon, 28 Aug 2017 23:49:39 GMT

@DeeBee78 wrote:
@Anonymous wrote:
@Anonymous wrote:
It's not my place to judge whether you're a whore or not

Those cash-back checking account offers are more trouble than they're worth for me because I have payroll direct deposit and moving that around would create havoc in my life. I'd love the $200, but just can't upturn the apple cart for it.

Why do you have to change your direct deposit to take advantage of a cash back checking account offer? Don't most just require that you open an account? Even if they require some form of DD, I'm pretty sure most banks will count an ACH transfer as a direct deposit.
ACH transfers don't always code as DD, and it varies from bank to bank. For example, ACH transfers from BoA or Capital One 360 (my current banks) to Chase do not trigger as DD, but ACH transfers from other banks like Wells Fargo do. This means that I would need to update my DD infomation with my payroll friends, meeting the $500 a month minimum requirement.

https://www.doctorofcredit.com/knowledge-base/list-methods-banks-count-direct-deposits/

Thank for the good info. Fortunately it's not a problem that I have to deal with but certainly can understand it being a pita.

Re: Does This Make Me a Credit Card Whore?

AverageJoesCredit — Tue, 29 Aug 2017 00:19:10 GMT

If you were in our garden club i might lend you one of my hoes

Re: Does This Make Me a Credit Card Whore?

sto0pyd — Fri, 22 Sep 2017 16:51:23 GMT

Yes, indeed. I'm a CC whore like everyone else. I'm always moving on to the next best thing for a few bucks The only constant loyalty I have is with NFCU, in which I also exploit their rewards program. I rotate between their Flagship, GO Rewards, and now their AMEX depending on what I'm buying. I really don't see how they make a dime off of me. But I do justify my lack of loyalty for the huge percentage of consumers that they exploit far more than the few hundreds they give me... like those who carry balances month after month.

Re: Does This Make Me a Credit Card Whore?

Anonymous — Fri, 22 Sep 2017 17:30:49 GMT

@Anonymous wrote:
In the past I have only opened credit cards based on the card being the highest cash back percentage in a specific category and having no annual fee.

Penfed card 5% for gas
Chase and Discover for the 5% categories
US Bank 5% cell phone
BOA $30.00 each quarter for $75.00 worth of spend
NFCU 3% restaurants
American Express 3% groceries
Citibank for 2% on general spend
Blispay for 2% and six month financing
Capital One 1.5% on general spend

This has required some discipline considering all the credit card approval posts and the must have flavor of the month cards that are touted here on the forum. I have always stuck to the plan but this time is different. I received a pre-approval from Fifth Third Bank for their Trio card which I can not bring myself to throw away even though the card does not improve on any of my cash back percentages nor address any heretofore uncovered category. My dilemma is the no annual fee and a sign-up bonus of $450.00 for $1500.00 spend in the first ninety days. I think I will have to surrender my principles for some of that Fifth Third Bank cash. So to summarize for the credit card sign-up bonus of $450.00 and new checking account bonus $200.00 for a total of $650.00 I believe I shall succumb to Fifth Third’s wiles.

Yes in fact it does. But I am too.

Re: Does This Make Me a Credit Card Whore?

Anonymous — Fri, 22 Sep 2017 18:05:37 GMT

Does this make myFICO Credit Monitoring a pimp?

Re: Does This Make Me a Credit Card Whore?

Anonymous — Fri, 22 Sep 2017 18:22:06 GMT

WHORE!!! THIS POST HAS MADE MY DAY!

Re: Does This Make Me a Credit Card Whore?

Anonymous — Sat, 23 Sep 2017 18:45:58 GMT

@Anonymous wrote:
Does this make myFICO Credit Monitoring a pimp?

Well, it's more like the creditors are the pimps. The monitoring services are also whore's for the "pimps". The monitoring services provide the information that the pimps want.

Kinda like they are the "whore's for the political pimps".

Re: Does This Make Me a Credit Card Whore?

Blackswizz750 — Fri, 22 Sep 2017 20:40:48 GMT

I am not the judge but get those points, miles, or cold hard cash as it comes. The lenders always get theirs no matter what. I hate I missed the BOA BBR boat as well. I get bank account offers every week from BOA and US Bank. I cant move my dorect deposit that much to jump on the cash back offers.

Re: Does This Make Me a Credit Card Whore?

Anonymous — Fri, 22 Sep 2017 20:45:54 GMT

Yes you whore. You are cheating on American Express :'(