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5% Utilities including Cable/Cell Phone/Internet - Vantage West

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Community Leader
Super Contributor

Re: 5% Utilities including Cable/Cell Phone/Internet - Vantage West

I haven't looked at my Chex system file lately. I have added 5 CU/banks in the last 6 months. Most of them used the Chex system. I'd say they aren't sensitive at all about Chex inqs. I have 14 inqs on EX now. The inqs have been falling off monthly.
Message 21 of 117
Moderator

Re: 5% Utilities including Cable/Cell Phone/Internet - Vantage West

Poor CU if they start handing out big limits and easily approved they might become FOTM of the MF effect and wonder what hit them.

Message 22 of 117
Community Leader
Super Contributor

Re: 5% Utilities including Cable/Cell Phone/Internet - Vantage West


@Gmood1 wrote:

@dlister70 wrote:

I wonder if it becomes an issue when you let your bicycle membership expire in a year? 

 

I somehow doubt they are keeping tabs on the memberships, but since it's a requirement to be in the credit union, I guess they might?


Anyone been a member for over a year that can chime in?  Smiley Happy


As Fltireguy says it's a none issue. Many CUs want you to join a foundation or club at the beginning to be a member. After that it doesn't matter. None of those I've joined keep tabs on that stuff. I'm currently a member of nine Credit Unions.


Wow ,G, nine CU's and you are message 9, FREAKEEE!Smiley Wink

#ChaseCreditCardHobby Enthusiast
2022
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Message 23 of 117
Community Leader
Super Contributor

Re: 5% Utilities including Cable/Cell Phone/Internet - Vantage West

Lol, CC, so true but i for one am done with FOTMs Smiley Wink. I can hardly handle vanilla and people want to serve strawberry tooSmiley Wink
#ChaseCreditCardHobby Enthusiast
2022
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Message 24 of 117
Established Contributor

Re: 5% Utilities including Cable/Cell Phone/Internet - Vantage West

Looks like a nice card.   Heart

Would make me few dollars every month.   Smiley Very Happy

Should  probably just stay in the garden !!    Smiley Sad

FNBO 2% Cashback Visa (20k) / Bank of the West Cashback MC (20k)
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Message 25 of 117
Mega Contributor

Re: 5% Utilities including Cable/Cell Phone/Internet - Vantage West


@ohjoy wrote:

Whoa! Wait a minute. Let me be sure that I'm understanding this correctly. I understand that you don't have to live there to open an account. And I think I'm clear on the big telecom companies. But, will the program cover local utility companies on the East Coast too? And, am I correct in assuming this is a personal card and not a business card. It seems I've seen those categories on an AMEX business card.

 

TIA (Thanks in advance)


V/MC rewards are based on MCC codes, so it the utlity codes correctly, it will be covered.  More critical is whether the utilities charge fees for using a card, my East Coast ones do.

Message 26 of 117
Established Contributor

Re: 5% Utilities including Cable/Cell Phone/Internet - Vantage West

I was declined for this card a week ago. The reasons they gave were "escalating debts" and "insufficient income to support credit line requested".

 

For DP:

My income is 30-40K, asked for 10K CL (it was ambitious but was hoping for a counteroffer), they pulled EX and my score was 796. There was 2 inqs on EX but I think one had just dropped off a few days prior to my app so idk if they saw that. 

 

What probably did me in was the fact that I had gotten 6 new CCs in the past 3 months and raised my total available credit from ~40K to ~100K. My reported balances possibly went up a bit (I recently moved back into the country after a few years abroad) but still ~1% util. I guess that still made me an Egyptian. Smiley Tongue

 

I applied for the CC without joining, but ended up joining as a member after the decline anyway. Might as well put that GABA membership I paid for to use if I ever want to app the card again in the future. 

Message 27 of 117
Frequent Contributor

Re: 5% Utilities including Cable/Cell Phone/Internet - Vantage West

So I wasn't really sure if my Utilities would work and thought it would just be one's that were close to Tucson, but after I saw the reply email it made sense.  It's not really up to specific utilities at all, but what their MCC code is for credit card payments.  I live in Kentucky =D

 

One more thing I forgot to mention, the Regular Share is a Savings Account, so you have to be careful of the 6 transaction rule.  Best to just push one lump sum at once to pay the Statement balance after it cuts.

 

The math works out to $300 a year if you can max $1500 a quarter, or $6k a year.  A 2% card would net you $120 for that same spend, so it's a gain of $180 over a 2% card annually.

 

I hope it doesn't get the MyFICO hug of death, but I figured I'd let the cat out of the bag and let the chips fall where they may =D

Message 28 of 117
Established Contributor

Re: 5% Utilities including Cable/Cell Phone/Internet - Vantage West

Savings accounts are limited by law to 6 withdrawals or transfers out per month. Paying in isn't usually restricted. 

Message 29 of 117
Community Leader
Super Contributor

Re: 5% Utilities including Cable/Cell Phone/Internet - Vantage West

That was my reason for adding the free checking account.
Message 30 of 117
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