@Open123 wrote:
@09Lexie wrote:If you are referring to me, I believe the wording I have used is 'the advocating of its usage'
So, we should not advocate one bypass exorbitant processing fees to earn rewards for paying rent, but rather suggest people "morally and ethically" pay a processor the 2.85% third party fee? And, if the aforementioned fee negates potential rewards, to refrain and with integrity not engage in the endeavor?
The subject of MS on myFICO has been discussed with Admin and their legal team. As a mod, we do not make those decisions. As recently as May, the issue was addressed again for clarification. Basically, due to our partnership and agreements with our credit card companies the openly promoting of MS is not allowed.
The past few posts have gone off topic. This is a lively debate which needs it's on thread.
@Open123 wrote:
@09Lexie wrote:The subject of MS on myFICO has been discussed with Admin and their legal team. As a mod, we do not make those decisions. As recently as May, the issue was addressed again for clarification. Basically, due to our partnership and agreements with our credit card companies the openly promoting of MS is not allowed.
Not that it matters one way or the other; just the fact that Fico is providing for and paying for this forum is reason enough for me, or anyone else using and benefitting from this free forum, to follow their TOS period.
From my perspective, it just seems disengenuous to disallow the sharing of legal and non-violation of T&C measures to help individuals bypass the exorobitant third party processing fees for paying their bills, especially since the practice will not only help improve one's credit standing, but also improve one's financial standing in the form of earned rebates. In my view, the whole point of improving one's credit is to be in a better position to either (1) borrow money at a lesser cost, or (2) earn a little extra from our expenditures.
Again, this is a privately run forum. If the above is against the TOS, then it's against the TOS, which I've no issues on adhering to.
Grumble, guess we've gone one too many rounds on this with differences of opinion.
Frankly, and I think I suggested this earlier, be smart about what you post; that goes for anywhere in this day and age unfortunately: there are private entities recording virtually everything already but that's way too far afield even for this topic.
This situation is analogous to frivolously disputing, it's not illegal, but continuing to do so may get everyone slapped for a few people's abuses, and as such it should be discouraged. What we're discussing here is really the same thing: the more overt we are, namely in advocating the practice, the more likely the lenders will take notice and take action - bad for everyone though not quite in the same manner as poking the CRA's without reason.
I understand fully where you're coming from, but if it gets escalated where do you think FICO Legal will fall on this issue?
Personally I don't think that's even in doubt, and the TOS will change, and poof, no more discussion, or they may take a larger look at the forums and decide it's not in FICO's best interests: while I don't personally think that's likely, as I'm a little dubious as to what they're trying to do with the community, I don't think it's entirely unreasonable if it gets that far.
Put simply, we're asking people to act like adults: there's lot of societal norms which people take for granted that we typically perform from the trivial to the serious, on things that aren't illegal or if they are, the judge would laugh at the situation. I don't think it's awkward for FICO to have made the request: discussions fair, advocating / advertising / promoting it's use, foul. If we need to reset the standard, I assure you we can do so, but it's patently likely that it won't be in favor of a more open, more inclusive policy... and in this instance, if I step back and try to look at FICO the company as a whole, I'd personally just cut it off at the knees: there are other places which we all know about where these topics are freely discussed, and the conversations can move there if it comes to that.
People on average aren't necessarily brilliant, but they're not stupid either: folks that are interested either in the pre-paid technique or MS as two examples, will find the supporting information all over even this forum I suspect let alone others. They'll figure it out, and decide whether they want to do it or not: there's no need for outright advocation, and I suspect that solves pretty much all issues, if we can agree to get along on this point.
If not, well I know unfortunately what course is likely to happen, and speaking as a user on this forum, I don't want to see it go that route; however, speaking as a moderator, I know what my responsibilities are if this becomes an issue. As a plea to everyone, as that one's on you all, help us out on this?
I don't have a cc with a high CL. I am currently rebuilding. I would like for my average cc to have a limit of 1500 up to 5k. I also would like to have one cc with 10k incase of any emergencies.
LongtimeLurker mention rewards and I also try to focus on rewards that will benefit my lifestyle. I would like a cc that earns travel although I don't travel a lot I plan to start traveling at least once a yea and probably using hotels 3-4 times a year. So I try really not to focus on how high my CL will be, as long as I don't have to make multiple payments to utilize the cc.
LongtimeLurker mention rewards and I also try to focus on rewards that will benefit my lifestyle. I would like a cc that earns travel although I don't travel a lot I plan to start traveling at least once a yea and probably using hotels 3-4 times a year. So I try really not to focus on how high my CL will be, as long as I don't have to make multiple payments to utilize the cc.
@Superman85 wrote:Curious, what is it about having high credit card limits that sucks people in?
Not that I am not striving for higher limits myself, but today I got curious as to why else other than maybe helping my credit score would I really want them. My whole journey in rebuilding my credit is to qualify for a mortgage, but after that happens then what? If I have an emergency do I really want to dip into my 5k CL (If I have one at that point) or would I rather force myself to rely on actual cash savings and not get myself into debt. It just seems that having high credit limits would be a huge temptation to use it on things that I would otherwise not even think about getting if I didn’t have the high CL. I hear so many people on the Dave Ramsey show trying to crawl out of credit card debt and I’m wondering if I need to be cautious as to how many credit cards and how high of CL I allow myself to get. Any thoughts?
That is a red flag. Judging by your starting score and you are rebuilding, you probably had difficult with credit/debt one way or another at some point. I am not going to knock anyone because I got caught myself some years ago, being cocky with life being good financially. Thought I could spend all of my savings and then rely on credit in emergencies. YES, be cautious as to how many cards and limits you have. Worry more about first having at least 6 months of monthly expenses saved away (separate bank was the best way to keep me from messing with mine). This is a wonderful forum, full of people that know good advice. That's just my two cents.
P.S. - Forgot to say a lot of people do it for utilization padding, true. Some people have total CLs 10 times their actual yearly income and are just fine. Some have CLs 1/10 of their annual income and struggle with it. Credit is what you make of it and what you use it for.
@longtimelurker wrote:Like Open, I have said that it's FICOs playground and they can make the rules for those that wish to play here. But it would be good if people were somewhat aware that this is not (necessarily) the place for fully unbiased advice. Certain legal activities that could indeed benefit the users are not discussed (or quickly squelched). And I feel the FSR credo actually masks that,
We also have some inanities, such as not being able to post email addresses (Cap One EO) but to post an equivalent link (and similarly with credit pulls database), and re my earlier complaint, posting backdoor phone numbers, which to my mind are company confidential. I don't know if this came about from misunderstood or piecemeal legal guidence (or whether it really does form a cohesive legal view).
But since I won't put up my own forum (I don't want to hear other people's views, why would I when mine are totally correct!) that's the price I pay!
Some of those do have background: we don't allow links to places which promote or have links to practices deemed unethical, and the credit pulls database (for all that is absolutely most excellent and I have the dubious honor of being the test case on that one a few years ago when I posted it... found it in the moderator forum later that the admin missed in the cleanup of all things Revelate, too funny) falls under that. Changing times, and that one did get escalated.
The not posting personal information comes from the flipside as I understand it: we don't want people disclosing names, phone numbers, and the like of the people on the forums (and such has been exchanged in PM's historically) as well as others who aren't deemed to be public figures who generally advertise their contact information for the world. It's something of a gray area with Google when it comes to corporate executives (are they public or private figures? Right to privacy? If they're not throwing themselves out there...) and whatever being posted is findable, but unless the companies are advertising the contact information on their website or facebook page or whatever, it's not appropriate here is the way I've generally interpreted that.
Backdoor numbers, that's grown over time and generally it's a known customer service number. EO office numbers have crept their way in there, and that's just the changing times, maybe we need to revisit portions of that policy as well: you had to work REALLY hard (or we really screwed you) to get to the Executive Office at Dell when I worked there near 20 years ago, and while it was a short walk from the Exec service reps to my desk as one of the escalation technicians that didn't piss customers off, those days are long gone and unfortunately they're becoming more and more front-line support as everyone knows they exist. The whole thing is anathema as a consumer and former CS worker to me, but I don't make the rules even as a moderator and I'm way in the minority on this one, but since it's been a while and we have new admins, maybe they'd like to change it up. I'll leave that decision to someone else as I'm nowhere close to unbiased on this count and it probably does benefit the users. Maybe 
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The FSR credo basically boils down to: thou shalt treat other people with respect, or stated more colloquially, don't be an asshat. I don't know what topics you're referring to and if you wish to take it offline with me via PM please do, but I don't see this as stifling discussion: it's there to keep discussions on point without a lot of the morass that you find pretty much anywhere else as it takes a lot of courage to come here to ask for help about something personal like a credit report, and we absolutely don't want people slapped. It's not a long walk on the Internet to find such places where posting such things would have seriously awkward results.
This forum like any human enterprise isn't perfect, but we try to make it a good one. If we're falling short in some areas as espoused in this thread, I certainly have no problem discussing it in public or in private, and if it's warranted, we'll kick it up the food chain. I'm one who thinks we can always do better, and if there's good suggestions posted or topics that need revisiting, we'll absolutely look at it.