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I am running out of banks for credit cards

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Valued Contributor

Re: I am running out of banks for credit cards


@M_Smart007 wrote:

@wasCB14 wrote:

I take a very different approach!

 

I have more cards than you, but they are "clustered" at only six issuers (falling to five when I close Savor...and maybe a few others).

 

Fewer websites to check, fewer passwords to remember, and lots of spend earning MRs and URs.


Different strokes for different folks.Smiley Wink


I use quicken to download the cards transactions, I have a password vault that eliminates the need to remember the passwords, it only takes 20 minutes a day to log on to every account, and being disabled, time is the one thing I have a lot of every day. I would have probably gotten the savor card but Capital One does the triple pull, and that makes an inquiry on all 3 CRA's.

TU fico08=823 08/12/19
EX fico08=813 08/10/19
EQ fico08=826 08/04/19
EX fico09=818 08/03/19
EQ fico bankcard08=849 07/23/19
Message 11 of 71
Community Leader
Super Contributor

Re: I am running out of banks for credit cards

Im sorry Sarge, if you are only going for one or two cards per bank, there really is nothing wrong with Synchrony or Comenity as they do offer some good cards, imo, regardless of what reputation they have gathered here.i could say the same about the big boys too as there are many horrow stories on Chase, Boa, Amex and even Disco. I think you could pick up a card or two that would fit your profile but then again, probably wont being a pif kind a guy. Just wanted to say not every Sync or Comenity story ends in horrorSmiley Wink
Charter Member of the Discover " No Cli For You " Club !

Chase Never/24 Squad Leader
Team Pendread Anonymous
#JustSayNo2Comenity
Officially S.O.G.O.T.P
Message 12 of 71
Valued Contributor

Re: I am running out of banks for credit cards


@Remedios wrote:

Sounds to me like you do not need any additional credit at this time, @sarge12 

 

 

 

 


To be honest....I do not need any credit period, I always PIF, and my credit makes me money every year, and never costs me a cent since I have not payed a penny in credit card interest in 20 years. Most of my cards had SUB's which I got and they have rarely been used since. I really do not even need the money I make off of them either, but it is fun to try and get as much profit as possible while never buying anything I would not buy otherwise. I often tell people if you are not profiting from your credit cards, you are doing it wrong. I have had 1 citi DC card that is 2% cash back, so given a choice of another 2% cash back card or 1% cash back with a 200 dollar SUB, I will get the 200 dollars and SD the card after meeting the spend for the SUB. The only cards that see regular use is my AMEX blue cash preferred for groceries 6% cash back, Chase Amazon Prime 5% cash back, State Farm for insurance 3% cash back, and now I will use the new HSBC card for a year to get 3% cash back everywhere with 10% annual rewards bonus. I play this credit stuff like a game, and I always win.

TU fico08=823 08/12/19
EX fico08=813 08/10/19
EQ fico08=826 08/04/19
EX fico09=818 08/03/19
EQ fico bankcard08=849 07/23/19
Message 13 of 71
Community Leader
Super Contributor

Re: I am running out of banks for credit cards

Lol, Credit is best when one has the abilty to stack the chips in their favor. For some of us though we have to play by their rules and somehow always end up losingSmiley Wink
Charter Member of the Discover " No Cli For You " Club !

Chase Never/24 Squad Leader
Team Pendread Anonymous
#JustSayNo2Comenity
Officially S.O.G.O.T.P
Message 14 of 71
Valued Contributor

Re: I am running out of banks for credit cards


@AverageJoesCredit wrote:
Im sorry Sarge, if you are only going for one or two cards per bank, there really is nothing wrong with Synchrony or Comenity as they do offer some good cards, imo, regardless of what reputation they have gathered here.i could say the same about the big boys too as there are many horrow stories on Chase, Boa, Amex and even Disco. I think you could pick up a card or two that would fit your profile but then again, probably wont being a pif kind a guy. Just wanted to say not every Sync or Comenity story ends in horrorSmiley Wink

Well the value of the cards might be more tempting if I ever went to stores. I go to the doctor, the grocery store, and other than that I buy everything else online. Being disabled I often go a month without ever leaving home. Store cards are of little use if you never go to the store. My damaged spinal cord makes even going to the store difficult, so the less I go, the better I feel. I may go to walmart or lowes once a year at best.

TU fico08=823 08/12/19
EX fico08=813 08/10/19
EQ fico08=826 08/04/19
EX fico09=818 08/03/19
EQ fico bankcard08=849 07/23/19
Message 15 of 71
Frequent Contributor

Re: I am running out of banks for credit cards


@sarge12 wrote:  "...I will use the new HSBC card for a year to get 3% cash back everywhere with 10% annual rewards bonus."


I hadn't seen that HSBC Cash Rewards Card SUB.  It's right up there with the best pure cash-back SUBS. Smiley Happy

 

Basically works out to 3.3% cash back on up to $10K in purchases over 12 months, so you only have to spend $833 per month to get it all. 

 

$330 Free money as long as you stop at $10K. On the amount spend and the time to do it, that is hard to beat.

 

Not as much money as Freedom Unlimited SUB (3% on up to $20K so $600 maximum bonus)  but HSBC is higher % payout.

And not as much money as you can earn with Discover IT MILES (1.5% matched at end of first year, so potentially unlimited 3% cash back in year one) but HSBC payout is also higher % payout.

 




Total Length of Credit = 31 years; AoOA (Currently open accounts) = 26+ years; AAoA = 9.5+ years; AoYA = less than 1 year (Aug 2019)
*Hover cursor over each card to see name, CL
Message 16 of 71
Valued Contributor

Re: I am running out of banks for credit cards


@Aim_High wrote:

@sarge12 wrote:  "...I will use the new HSBC card for a year to get 3% cash back everywhere with 10% annual rewards bonus."


I hadn't seen that HSBC Cash Rewards Card SUB.  It's right up there with the best pure cash-back SUBS. Smiley Happy

 

Basically works out to 3.3% cash back on up to $10K in purchases over 12 months, so you only have to spend $833 per month to get it all. 

 

$330 Free money as long as you stop at $10K. On the amount spend and the time to do it, that is hard to beat.

 

Not as much money as Freedom Unlimited SUB (3% on up to $20K so $600 maximum bonus)  but HSBC is higher % payout.

And not as much money as you can earn with Discover IT MILES (1.5% matched at end of first year, so potentially unlimited 3% cash back in year one) but HSBC payout is also higher % payout.

 


I will likely have a difficult time even meeting the 10,000 dollars actually, I get 6% cash back for groceries and streaming services on the Amex BCP, and 5% cash back on Amazon purchases with the Chase Amazon prime, so I wont use it at either of those, because both are over 3%, and my Bank of America chozen 3% catagory is online shopping, but anything else will go on that card, but I doubt it will be 10,000 dollars. No way I could ever come close to the 20,000 on the freedom unlimited, and having just had the freedom unlimited closed due to non-use, I would likely not be able to get that card anyway. I was however able to transfer the credit limit to my chase amazon prime card. But I will certainly be getting at least 3% cash back on absolutely everything for the next year. It might be bragging a bit, but I know which cards to get to maximize my benefits. Main thing is, I will get 3, 5, or 6% everywhere that takes credit cards. At amazon and most other online shopping I also get periodic gift cards from wikibuy also...It is actually surprising how fast the wikibuy points add up.

TU fico08=823 08/12/19
EX fico08=813 08/10/19
EQ fico08=826 08/04/19
EX fico09=818 08/03/19
EQ fico bankcard08=849 07/23/19
Message 17 of 71
Valued Contributor

Re: I am running out of banks for credit cards

I’ll piggyback off what AJC said regarding Synch and Comenity. The horror stories center mainly around excessive card hoarding with them or other questionable behavior. Keep it moderate and there’s no issue. You said you hit Lowe’s maybe once a year but that card is still a good one - huge limits, you can order stuff online, get it delivered, and it’ll get you 5% off. For the big purchases they offer various 0% terms that can be used. For Comenity, look at Wayfair - when stuff is on sale the prices can be quite good, it’s all delivered, and you can use their 0% promotions too. Both of these would go against your PIF mentality but with zero interest there’s no worry anyway.

Both of those would scratch your app itch for a bit and offer tangible benefit and things you could actually want.


Rose Gold/BCP/Delta Gold/Hilton Surpass/Hilton Honors | IT | Quicksilver | Target | VS | Home Depot | Lowes | Firestone | Wayfair | Kohl’s

Heir apparent to the SJ Special (finally got a Disco CLI of $300)

5/24, 1/24, 76445/24, who cares #HappyWithAmex





Entering the garden 5/27/2019, staying until 2020
Message 18 of 71
Valued Contributor

Re: I am running out of banks for credit cards


@ImTheDevil wrote:
I’ll piggyback off what AJC said regarding Synch and Comenity. The horror stories center mainly around excessive card hoarding with them or other questionable behavior. Keep it moderate and there’s no issue. You said you hit Lowe’s maybe once a year but that card is still a good one - huge limits, you can order stuff online, get it delivered, and it’ll get you 5% off. For the big purchases they offer various 0% terms that can be used. For Comenity, look at Wayfair - when stuff is on sale the prices can be quite good, it’s all delivered, and you can use their 0% promotions too. Both of these would go against your PIF mentality but with zero interest there’s no worry anyway.

Both of those would scratch your app itch for a bit and offer tangible benefit and things you could actually want.

What app itch? As I posted I jump out of the garden, app for 2 new cards that have a benefit or SUB I want, then jump back in the garden for another year, unless of course I get a mailed offer that is just to good to pass up. It would have to be exeptional to not garden for a year after getting 2 new cards. That is part of my strategy. With as many cards as I already have, getting 2 new cards has somewhat little score impact. The 2 new cards are averaged in with 15 cards that have aged, so AAoA changes very little. AooA does not change at all. The main changes are AoyA, and the inqueries. I did not get this many cards in bunches...it has taken almost 10 years because at the start I was only getting 1 new card each year. I never get a card just to be getting a card, it has to have either a fairly high SUB, or some benefit that I want. By saying a fairly high start up bonus, it means $150+.

TU fico08=823 08/12/19
EX fico08=813 08/10/19
EQ fico08=826 08/04/19
EX fico09=818 08/03/19
EQ fico bankcard08=849 07/23/19
Message 19 of 71
New Visitor

Re: I am running out of banks for credit cards

Navy Federal - many good cards

Alliant Federal Credit Union - Visa Signature - 3% unlimited cashback

Message 20 of 71
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