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Should I poke that bear?

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Moderator Emeritus

Re: Should I poke that bear?


@longtimelurker wrote:

@Revelate wrote:

@kdm31091 wrote:

I'm sure technically a PC could result in an account review, but it's not like you are seeking credit. It's not a new app or a CLI or even a balance transfer. It's not a financial transaction at all. Honestly, I think it would be fine.


I agree it SHOULD be fine, but...

 

  • Any transaction you do with a bank, swipe, phone call, chat, whatever... can and will be used against you in the court of algorithms.
  • Lender UW/algorithms are instant in time just like FICO scores, and can change with zero notice
  • I hate to use the word unprecedented but when talking modern financial institutions and this COVID thing, it's an appropriate word.

All this to say, I'm a little leery of initiating any credit financial transaction that I'm not backing with last Friday's paystubs.

 

I'm still closing on my new home, I'm still going to refinance my car, and I will do something with the LA condo it just may not be a refinance anymore... why pay lending fees if I'm going to dump it soonish anyway.

 

I wanted to setup some new credit cards though specifically looking for BT cards or possibly swapping to Amex for my future needs but I'm hesitating even now when I'm at the highest income I've ever been in my life... those cards will still be around after this is done, and while I'm a big proponent of getting everything done with one shot and getting all the negatives associated with new accounts done and fading into the rear view mirror as soon as possible, things are squirrley right now.

 

I waited 7 years for my tax liens to fall off, I can wait 7 months or less for this to work out one way or the other.


Right.   

 

Now with no evidence at all, I suspect that "eyes on the account" is less of a threat that it used to be, merely because algorithms are getting better, so that anything that might concern a human looking at your account (e.g. MS $40K a month with a $100K income) will have already been detected by the algorithms.   But obviously an additional interaction has is an additional interaction, and so some chance of a new concern coming up.


It's not so much that, it's that the call will not only be noted, it will be recorded and analyzed (for multiple reasons actually some of them are good for us as the consumer) by the algorithms.  I can't speak as to what the metrics are I just know they have them, and if there's a pattern in the data from people who call frequently vs. people that don't... well, I strongly suspect the vast majority of people don't visit / call banks very often, I don't want to be in that first category myself though if I really do need something I'll absolutely get in touch with them.

 

To your point though, I strongly suspect the risk analytics departments everywhere have changed a lot in the last decade or so, agreed there are fewer humans looking at us but humans are still coding the algorithms so don't expect a necessarily safer environment on that front.




        
Message 11 of 23
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Valued Contributor

Re: Should I poke that bear?


@longtimelurker wrote:

@seattletravels wrote:

I just did a PC from AAdvantage to DC, quick and easy process. 


Isn't it quick and easy to initiate but takes ages to actually complete!  I seem to remember Citi doesn't actually do the PC for about 60 days or so, or has that changed?


I got my new card within a week.



Last App: BECU 02-26-2020
Pronouns: He/Him/His
Message 12 of 23
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Frequent Contributor

Re: Should I poke that bear?

It was simple and painless when I PC'ed from Citi Double Cash to their Rewards+ card. They even were kind enough to give me statement credit from my DC's cash reward pool that was under $25. It was like $16 or so.

 

I use the card whenever I need something from Dollar 🌳. Charge 1 item and get 10% back or 2 items for 5%, or 3 items for 2.5ish%.

 

It shouldn't spook them doing a PC.

 

My Current Active Credit Cards






My Members Only Loans And Banks

Message 13 of 23
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Valued Contributor

Re: Should I poke that bear?

I recently PCed my Prestige to Premier.
Also closed my AA Biz card, and a few days later got the personal AA card.
Business as usual at Citi.
AMEX | BofA | Barclays | Cap One | Chase | Citi | Discover | GS | PenFed | SYNCB (PP MC, Lowe's, Amazon, PP Credit) | US Bank
Message 14 of 23
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Mega Contributor

Re: Should I poke that bear?


@Revelate wrote:

 

To your point though, I strongly suspect the risk analytics departments everywhere have changed a lot in the last decade or so, agreed there are fewer humans looking at us but humans are still coding the algorithms so don't expect a necessarily safer environment on that front.


Oh, I wasn't expecting a safer environment, more dangerous for things like MS, as in the past if you didn't get someone to look you could be OK for a long time.  (And it was amazing how many people called in about small things and then got hit!)

Message 15 of 23
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Frequent Contributor

Re: Should I poke that bear?

Thanks @M_Smart007 . Out of curiosity, how recent were these PC's?

Current Cards:


Goal Cards:


Banks and Credit Unions:


Goal Credit Unions:



Income: $100k/year
Total CL: $151,700.00

Fico8 scores (as of 6/9/20):

Message 16 of 23
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Frequent Contributor

Re: Should I poke that bear?

Thanks @NRB525 , this will be my first ever PC request with any FI. I just got the AOD 3% card and it will replace the DC for non category spend. I'm hoping to PC to something that would be a better fit.

Current Cards:


Goal Cards:


Banks and Credit Unions:


Goal Credit Unions:



Income: $100k/year
Total CL: $151,700.00

Fico8 scores (as of 6/9/20):

Message 17 of 23
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Frequent Contributor

Re: Should I poke that bear?

Thanks @seattletravels , when you say "just did", how recently are we talking?

Current Cards:


Goal Cards:


Banks and Credit Unions:


Goal Credit Unions:



Income: $100k/year
Total CL: $151,700.00

Fico8 scores (as of 6/9/20):

Message 18 of 23
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Frequent Contributor

Re: Should I poke that bear?


@Revelate wrote:

I waited 7 years for my tax liens to fall off, I can wait 7 months or less for this to work out one way or the other.


And I feel the same about waiting it out if it's warranted. I just have no real need for the DC anymore and was hoping to find a better fit. I don't want to draw any extra attention, but I don't want to over-react and miss out on a card that would be better for me, with the economy tightening up.

Current Cards:


Goal Cards:


Banks and Credit Unions:


Goal Credit Unions:



Income: $100k/year
Total CL: $151,700.00

Fico8 scores (as of 6/9/20):

Message 19 of 23
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Epic Contributor

Re: Should I poke that bear?


@ChazzieT wrote:

Thanks @M_Smart007 . Out of curiosity, how recent were these PC's?


@ChazzieT, I am guessing around 6 months ago or so.

Message 20 of 23
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