@CH-7-Mission-Accomplished wrote:
@Anonymous wrote:
@CH-7-Mission-Accomplished wrote:
@AllZero wrote:
@CH-7-Mission-Accomplished wrote:
Thanks to all zero I now know what AOD is. I've skimmed this thread but it's 61 pages long and I don't want to read the whole thing to get an answer to this question: do they approve people with BK 7's reporting? If yes, any idea of the timeframe post-filing? Also, do they really require POI for everyone for membership? I don't care about their DTI concerns because I have no debt, but I'm self-employed and only give out my tax returns for mortgage loans. Can you clue me in? Thanks in advance.
@CH-7-Mission-Accomplished See message 602
Thanks. I'm glad I asked since it's on page 61 of the thread. I'm not sure I get the excitement about this card. Seems folks are a bit manic. What was that CU in Oregon years ago? Everybody jumped on it and then the CU realized they were on a website helping people with bad credit and they promptly shut everybody down?
AOD found their way to this place very early on and while they adapted their UW along the way, they have still been approving people and the card is great with the 3% on all purchases, posted automatically each month as a statement credit. This card could essentially replace all of my rewards cards except for Discover and Amazon Store Card.
I don't really disagree with you. I think that for me I only spend about 2K - 3K each month on groceries and gas and other stuff that goes on a CC, and so whether something pays 2% or 3% I don't really notice the difference. My big thing has always been getting airlines points, and in years past I got many, many biz class tickets and hotel upgrades through AMEX and United cards. Since I burned them both I won't be enjoying those rewards for some considerable time.
I recently closed my Savor 3% cash back card since virtually no restaurants were open and since I heard they were slashing limits. I voted to keep my 50K old card and dump the 30K useless 3% back card.
There was a period of time where Cap 1 was issuing card after card with a $500 bonus and I got four of those for $2K and I opened cards for my spouse and he also got $2K. Then we merged them all into one card. I understand that those days are gone now.
If I spend 3K a month and get 3% cash back that's $90 a month, and if I get 2% back that's $60 a month, so it's an extra $30/month. I could accomplish the same thing by going out for a dinner for two that costs $100 versus $150. I just don't monitor things that carefully to save $30/month.
My view on credit cards is the same as my view on investment accounts. No fee, no load accounts that buy the market are way better than paying a management fee, unless you are truly a high roller with more than $10 million in the market. Otherwise buy the market and avoid all fees and you will come out ahead in the long run. JMHO.
I feel the same way about maximizing my cash back now (I even used my Disco for 1% on $1489 worth of purchases this year because I was planning to carry the balance) although I still like card collecting so I might as well get extra free money but I do like the simplicity of this card. I mean every 2% card I have seen has some sort of hoops whether it's a direct deposit/balance requirement with a CU or bank, set up like Citi's with the 1% now, 1% when you pay, or some other compromise. The AOD card has been excellent across the board. In fact it only got declined once for suspected fraud on an international charge early on and that took two seconds to fix. The only other gripes I had with it were no native purchase alerts but VISA's purchase alerts work perfectly fine and autopay minimum will trigger even if you manually paid. Considering how picky I can be about cards, this one really impressed me. The fixed APR is kind of a novelty perk although I wish I could have gotten the lowest 7.49%. I doubt AOD has any easy way to get that lowered either. At best I would think I would have to submit a new app and go back through UW. Not worth it.
That said, it was a lot of hoops to get it, and that can be stressful. The person who did mine wasn't the most responsive, likely because they were extremely busy, so I was stressed thinking I wasn't going to be approved and was very happy when I was.
