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The psychology of rewards

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red259
Super Contributor

Re: The psychology of rewards


@Anonymous wrote:
I cringe when I seecrapola card approvals getting praise.

Yea those are kinda rough. You don't want to praise them, but since the damage is done you don't want to turn around and call them an idiot either. I usually just remain mum. 

;
Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 828 5/2018, Last App 8/5/17
Goal Score: 800 (Achieved!) In garden until Sepetember 2019
Message 81 of 105
Open123
Super Contributor

Re: The psychology of rewards


@Anonymous wrote:

Right, too much of "each to their own" and too much FSR can lead to 

 

"I just got my 6th Credit One card, with a special $500 AF and a $200 CL!"   "Congrats!"

 


In my view, just a reflection of our modern overly sanitized politically correct society where one simply can't call a spade a spade.

Message 82 of 105
Anonymous
Not applicable

Re: The psychology of rewards


@Anonymous wrote:

Yeah, I just try not to get involved with what other people are applying for or how they're spending their money. It's frankly none of my business, and I would hate to come across as an insufferable busybody to others just to prove a point.


Hah.. Good post. Now let me get back to seeing if my views/feelings on "crony capitalism" posted elsewhere proves a pointSmiley Wink..

Message 83 of 105
icyhot
Valued Contributor

Re: The psychology of rewards

I wonder what makes a card a "useless" card. Useless to the person commenting? Orrrrrr to the person who actually owns it? Cuz it's all subjective.
Ch 7 BK discharged 12/2018
Bank Cards: NFCU Flagship Rewards $25K | NFCU Cash Rewards $20K |NFCU More Rewards Amex $17K | PenFed Power Cash $12.5K | PenFed Platinum Rewards $12.5K | PenFed Pathfinder Rewards $10K | PenFed Gold Card $7.5K | PayPal Cashback Mastercard $5K | Apple Card $3.5K
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Scores: EX 656 | EQ 667 | TU 680


Goal Card: Amex Platinum (Amex IIB, waiting for 5 year mark)
Message 84 of 105
Anonymous
Not applicable

Re: The psychology of rewards


@icyhot wrote:
I wonder what makes a card a "useless" card. Useless to the person commenting? Orrrrrr to the person who actually owns it? Cuz it's all subjective.

Useless as in, The applicant does not shop there and is only applying because "no one else will approve me", "the cards I do use are maxed out", or the latest "peer pressure is a mofo"

Message 85 of 105
14Fiesta
Established Contributor

Re: The psychology of rewards


@DrZoidberg wrote:

This site is a kind of a joke. People celebrate $500 credit lines like they just won the lottery. It's not healthy how obsessed peopl have become and excited they get by obtaining a new debt tool. What's worse is the people who just filed for bankruptcy start posting months later all the new credit cards they just got. 

 

This site has good advice and information, but majority of this stie needs to stay out of the credit card and approval section .


It has been mentioned by others in this thread, but I want to put my piece out there too.

 

Sometimes it depends on the person's credit file how excited they get at approvals. To you, with multiple 50K credit lines, $500 would probably make you angry and feel like you wasted a HP. But I know from my perspective, I was OVERJOYED when Discover gave me $500 to start. Why? Because I was just starting out at trying to establish my credit history and Cap One had just minutes before told me I couldn't have a Journey card. if it wasn't for that $500 line, my AAoA would still be non existent.






EX FICO (AMEX): 728 (4/29/17) | TU FICO (Discover): 737 (4/7/17) | EQ FICO (Citi): 746 (3/28/17)
Message 86 of 105
Anonymous
Not applicable

Re: The psychology of rewards

Fix the foundation before you put new windows in, I say.
Message 87 of 105
Anonymous
Not applicable

Re: The psychology of rewards


@red259 wrote:

@Anonymous wrote:
I cringe when I seecrapola card approvals getting praise.

Yea those are kinda rough. You don't want to praise them, but since the damage is done you don't want to turn around and call them an idiot either. I usually just remain mum. 


Well, early on, I would try to explain (for others) that there mighe be better choices depending on....    as not commenting allows the "Congrats!" to dominate misinforming others.

 

But people object  and have the there-is-no-objhective-truth belief and say "It's right for me!" etc.   So now I just find them and sterilize them and their family for the future good of the gene pool.

Message 88 of 105
red259
Super Contributor

Re: The psychology of rewards


@14Fiesta wrote:

@DrZoidberg wrote:

This site is a kind of a joke. People celebrate $500 credit lines like they just won the lottery. It's not healthy how obsessed peopl have become and excited they get by obtaining a new debt tool. What's worse is the people who just filed for bankruptcy start posting months later all the new credit cards they just got. 

 

This site has good advice and information, but majority of this stie needs to stay out of the credit card and approval section .


It has been mentioned by others in this thread, but I want to put my piece out there too.

 

Sometimes it depends on the person's credit file how excited they get at approvals. To you, with multiple 50K credit lines, $500 would probably make you angry and feel like you wasted a HP. But I know from my perspective, I was OVERJOYED when Discover gave me $500 to start. Why? Because I was just starting out at trying to establish my credit history and Cap One had just minutes before told me I couldn't have a Journey card. if it wasn't for that $500 line, my AAoA would still be non existent.


Think DrZoidberg is referring more to the people who apply for card after card with low limits. I totally agree with you that a decent $500 card can be quite an accomplishment for someone coming back from bankruptcy or with no credit. 

;
Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 828 5/2018, Last App 8/5/17
Goal Score: 800 (Achieved!) In garden until Sepetember 2019
Message 89 of 105
Anonymous
Not applicable

Re: The psychology of rewards

In addition to the latest rash of bandwagon applicants. 😏
Message 90 of 105
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