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Twice in the last few months I had credit limits raised on two different cards without me requesting it. I'm talking about a $6k raise on one and $4k on another. As far as I can tell, there's no downside to this, right? They're just trying to entice me to spend more and actually helping my utilization % go down, yeah?
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Dec 15, 2015 03:55
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Richard M Nixon posted:Twice in the last few months I had credit limits raised on two different cards without me requesting it. I'm talking about a $6k raise on one and $4k on another. As far as I can tell, there's no downside to this, right? They're just trying to entice me to spend more and actually helping my utilization % go down, yeah? Yeah.
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Dec 15, 2015 04:43
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Bisty Q. posted:Yeah.  Well thanks for the freebie, credit card companies!
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Dec 15, 2015 05:19
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Anyone with Chase- I've read a bunch of negative reviews complaining that they pay on the due date, but it isn't processed until a few days later, resulting in late fees. Is that just people making an error like paying manually after 5pm on the day it's due, or something like this? http://consumerist.com/2009/10/23/chase-sets-early-payment-trap-customer-falls-into-it/ I see that's dated 2009. Was that remedied by the CARD act? I'm skittish about any new late payments, so I've paid a week early. Should I just set it to auto minimum and not stress? (0% APR currently)
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Dec 15, 2015 05:26
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Moneyball posted:I'm skittish about any new late payments, so I've paid a week early. Should I just set it to auto minimum and not stress? (0% APR currently) I pay mine off every month and don't carry a balance, but I've also got my cards set up to automatically make the minimum payment - just in case I screw up or have a stroke or something.
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Dec 15, 2015 06:20
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echo465 posted:I pay mine off every month and don't carry a balance, but I've also got my cards set up to automatically make the minimum payment - just in case I screw up or have a stroke or something.
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Dec 15, 2015 07:51
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I have never had an issue with Chase where I setup the automatic payment to pay the statement balance on the due date.
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Dec 15, 2015 07:56
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Hey guys, not sure if this is the best place but I'm sure someone here can help. I have a credit card / interest related question. I pay my balance of every month, but my credit limit on my card is very low. If my payments are due on the 15th and I pay off in full on the 10th then make a purchase on the 12th what happens? Do I need to pay off the new balance from the purchases on the 12th in order to not incur interest? Do I have 30 days from purchase? I'm confused about how all this works.
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Dec 15, 2015 19:37
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Assuming the 15th is when your bills are due... If you make any charges before the 15th of a month (let's say May), it will be added to your statement for that month. Those charges need to be paid by June 15th to avoid any interest.
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Dec 15, 2015 19:46
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In that scenario, that should take care of your statement balance, which is what they apply interest to. It's basically a one month lag.
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Dec 15, 2015 19:46
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Tots posted:Hey guys, not sure if this is the best place but I'm sure someone here can help. I have a credit card / interest related question. What is due on the due date is what you owed when the statement was generated, which is a separate date from your due date. As an example, let's say your statement is generated on the 1st of each month and your due date is the 15th. Purchases made between November 1st and November 30th would be due on December 15th. Purchases made from December 1 through December 31 would all be due on January 15th. Therefore if you bought something on the 12th it would be due on the 15th of the next month, not in just 3 days. It's set up this way because originally the bank would have to mail you the statement and you would need to write a paper check and mail it back. The time between when your statement comes in and when your due date is can vary but it must always be at least 21 days.
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Dec 15, 2015 19:52
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code:E: Actually, I think the above post clarifies this.
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Dec 15, 2015 19:56
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Cards won't accrue any interest as long as you pay the statement balance shown on your next statement by that statement's due date. Anything that happens in between the statements being generated (i.e. mid-cycle payoffs to open up more credit) is irrelevant. So that $81.59 won't accrue any interest, if you pay your next statement off in full (whatever that statement balance number may be) by its due date.
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Dec 15, 2015 19:59
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Thanks guys/gals/goons!
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Dec 15, 2015 20:08
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What are some of the best non-slate credit cards for balance transfers (730-ish FICO)? I'd been paying my slate balance off pretty well but was notified the Monday before Christmas that my department is getting shut down and I'll be jobless in January. I've got 0 APR until the end of June but want to be prepared if I've got a large balance still by that point in time.
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Dec 27, 2015 04:31
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The Fidelity Amex is no longer available, though they will be announcing a new 2% cash back card on January 4th. I'm not sure if there will be extra requirements, fees, or what happens to existing card holders though. I also wanted to update the OP with some actually useful credit card benefits. Does anyone have any they actually use? Citi and Discover offer price matching if you find a lower price after purchase. American Express and Discover offer additional deals. (Amex offers and Discover Deals) Many cards offer roadside assistance, though you usually need to pay per use. Still useful to know about though. Many cards offer rental insurance if you use the card to rent the car in your name. Some cards give you access to a concierge line that can make a restaurant reservation or call a taxi for you. Could be useful when traveling internationally. GobiasIndustries posted:What are some of the best non-slate credit cards for balance transfers (730-ish FICO)? I'd been paying my slate balance off pretty well but was notified the Monday before Christmas that my department is getting shut down and I'll be jobless in January. I've got 0 APR until the end of June but want to be prepared if I've got a large balance still by that point in time.
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Dec 29, 2015 16:53
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https://www.cardbenefits.citi.com/Dashboard.aspx I use the Citi FICO score and Rewind regularly.
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Dec 29, 2015 17:02
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I browse the discover deals before I buy anything online. A lot of the time there will be a 5% or 10% cash back for some major stores. Sometimes they have coupons - e.g. 50% off full priced items at Men's Warehouse if you use discover. I haven't bought anything I would need price rewind for, but I've keept it in mind. Also citi and discover report different credit agencies ratings, so it's cool to be able to see the difference there. Citi - at least the double cash - let's you look at upcoming performances and allegedly has cheaper/earlier tickets on sale for some things. I've looked at the offerings but haven't gotten any tickets The Slack Lagoon fucked around with this message at 17:54 on Dec 29, 2015 |
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Dec 29, 2015 17:52
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I have been using amex offers, often on both my amex cards when available. Didn't know the fidelity amex was going away. I was considering dropping it altogether because it doesn't see as much use as I thought it would, but the amex offers saved it. Without those I'll probably not get whatever they replace it with.
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Dec 29, 2015 18:20
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The car insurance on a credit card requires that you decline the insurance offered by the rental company except in rare cases where the country is covered by the card but requires rental insurance by law and the rental company won't allow you to decline. Italy is an example where Chase Sapphire Preferred and the work MasterCard I had will still cover you even if you have rental company insurance. One big caveat is that almost all CCs are secondary insurance so in the US your normal car insurance will be primary. It's pretty important to read the credit card contract and understand the insurance offered. A lot of cards offer travel insurance and baggage lost or delayed benefit though you have to charge the trip to that card. You m trying to think if there are more widespread benefits. There's a lot of specific stuff, high end cards offer status to hotels or rental car companies, lounge access, airline credit, precheck/global entry credit and these can greatly reduce the overall cost of the card.
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Dec 29, 2015 19:07
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Wells Fargo credit cards offer cellular phone protection for stolen/broken (not lost) phones. All you have to do is pay the bill with the credit card. $25 deductible and they will pay up to $600 for the phone. I think up to 2x per year, but I could be wrong.
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Dec 30, 2015 02:47
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Cacafuego posted:Wells Fargo credit cards offer cellular phone protection for stolen/broken (not lost) phones. All you have to do is pay the bill with the credit card. $25 deductible and they will pay up to $600 for the phone. I think up to 2x per year, but I could be wrong. If you're gonna rely on this, make sure you double check the paperwork requirements before hand. I had this card and tried filing a claim, after multiple submissions of paperwork and hours on the phone with my provider and the insurance company I just gave up and ate the loss. The issue was that I had already replaced the phone and I didn't have a screenshot of the website or other documentation showing that the BROKEN PHONE had been active on the account on the date of the claim. Bills and receipts didn't count, and even setting up a 3 way phone call between AT&T and the insurance company didn't work. I ended up cancelling the credit card since the phone protection was the only reason I still had it.
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Dec 30, 2015 12:47
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Wells Fargo credit card services suck badly. That 5% for 6 months offer is tempting, but even when I was "prequalified" for it, they found a way to dick me out of it. Two hard pulls later all I have is a lovely no-fee card.
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Dec 30, 2015 19:07
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Hilton is offering to match Diamond status if you have IHG Diamond status, which comes with the Chase IHG credit card. https://millionmilesecrets.com/2015/12/10/the-easy-way-to-hilton-diamond-status/
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Dec 30, 2015 19:41
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I just realized that the cash back for groceries on my card ends in March 2016 and that is basically the only reason I got this card. When that date rolls around should I just cancel it and get a new 2% grocery card or keep it open?
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Dec 30, 2015 22:03
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Tots posted:I just realized that the cash back for groceries on my card ends in March 2016 and that is basically the only reason I got this card. When that date rolls around should I just cancel it and get a new 2% grocery card or keep it open? Which card?
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Dec 30, 2015 22:11
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http://www.reimastercard.com/ REI Master Card. I do occasionally shop at REI, but not really that often. I don't really know the pros/cons of leaving a card open while opening a new card.
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Dec 30, 2015 22:17
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Amex Blue is 3% on groceries, no annual fee.
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Dec 30, 2015 23:52
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The Electronaut posted:Amex Blue is 3% on groceries, no annual fee. Awesome, will keep that in mind when the rewards are up on the current card. I should also mention that another reason I have this card instead of a better one is because it was easy to get and I don't have stellar credit. E: To the original question, should I close the REI card when I get a new one or keep it open?
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Dec 30, 2015 23:58
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Tots posted:Awesome, will keep that in mind when the rewards are up on the current card. I should also mention that another reason I have this card instead of a better one is because it was easy to get and I don't have stellar credit. Forgot to give you a link. https://www.americanexpress.com/us/mobile/credit-cards/blue-cash-everyday-card/
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Dec 31, 2015 00:01
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Tots posted:Awesome, will keep that in mind when the rewards are up on the current card. I should also mention that another reason I have this card instead of a better one is because it was easy to get and I don't have stellar credit. As a general rule of thumb, should always keep a no-fee card open and put a charge on it every year or so to keep it active. More credit and credit lines are good for your credit score. Only close it if you're worried you can't keep track of the physical card if its not in your wallet all the time. And amex blue cash preferred is 6% back on groceries up to 6k a year, for only $75 a year. And a $150 signup bonus right now to cover the first two years of fees. Its only ~100 more a year in your pocket than the regular blue cash, but I definitely max the 6k every year on gift cards while I'm getting the $1 off per gallon of gas at krogers, so might as well take the extra money. https://www.americanexpress.com/us/credit-cards/blue-cash-preferred
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Dec 31, 2015 03:24
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Wow, that sounds pretty great. When I drop my Costco membership (didn't get much out of it due to my single guy lifestyle) around the same time Amex drops the credit card, I think I'll switch over to that bad boy instead of closing my account like I'd planned.
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Jan 3, 2016 04:05
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SpelledBackwards posted:Wow, that sounds pretty great. When I drop my Costco membership (didn't get much out of it due to my single guy lifestyle) around the same time Amex drops the credit card, I think I'll switch over to that bad boy instead of closing my account like I'd planned. From what I've heard is that closing an account with American Express is a very bad idea as it will just about automatically bar you from signing up for another one of their cards or at least make it very difficult. The Blue Cash Preferred has a $250 back on 1000 spend if you do a quick Google search and the Everyday has a $250 spend that's targeted that requires you to pretty much open the link in a Chrome browser using Incognito mode a handful of times until it pops up. Dropping in to say after being approved for the Amex Preferred and Citi Double Cash a couple months ago I am blown away at the power of cash back. I've already earned nearly 80 dollars back using the Double Cash and that's only on bills that let me pay in credit card and other small misc purchases. The Amex still hasn't posted my rewards points but I think it's going to be a doozy because I spend a not insignificant amount on groceries each month, use it to purchase gift cards from the grocery store to pay for gas and buy gift cards for all my Amazon purchases. As of the beginning of December I'm sitting at a 698 Experian score because I have 1 30 day late fee reported to them and a 752 and 756 Equifax and Transunion score. Life is good.
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Jan 3, 2016 05:51
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kazr posted:From what I've heard is that closing an account with American Express is a very bad idea as it will just about automatically bar you from signing up for another one of their cards or at least make it very difficult. Maybe if you close it immediately after the signup bonus posts, but I think its just like everyone else if you hold it for at least a year. I haven't heard of issues from closing an amex before the annual fee posts. You can only get an amex signup bonus once in a lifetime per card though, so its worth it to wait to get a big one.
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Jan 3, 2016 05:55
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Baddog posted:Maybe if you close it immediately after the signup bonus posts, but I think its just like everyone else if you hold it for at least a year. I haven't heard of issues from closing an amex before the annual fee posts. You can only get an amex signup bonus once in a lifetime per card though, so its worth it to wait to get a big one. Probably the case but I read a few accounts of people being denied a card ten years after closing one and their credit scores weren't terrible by any means. Just saying that product changing to a no fee card and shelving it is a better option than outright closing your only account with them.
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Jan 3, 2016 06:17
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I'm thinking about signing up for the Citi Double Cash card, but my credit is kind of crap (as in limited history), so I need a cosigner. My mom is currently cosigned on my non-rewards card, so that shouldn't be an issue. But when I sign up for the card online, should I be entering my mom as the primary card holder and then have me as an authorized user? Or will I have to do it over the phone? All I remember from my current card is we got a form from the bank and we entered both of our information, this form only seems to take the info of one person and then you can add an authorized user without getting to put in their SSN or income or anything.
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Jan 5, 2016 18:58
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Ludwig van Halen posted:I'm thinking about signing up for the Citi Double Cash card, but my credit is kind of crap (as in limited history), so I need a cosigner. Have you considered getting a crappier card first? I think I used a really basic venture card with 1% cash back for about 9 months before I was able to apply for better cards(Chase freedom, then Sapphire and Amex Blue Cash over the course of 2 years). This was right after graduating from college. Credit will build up pretty quick to reasonable levels while you are paying off a car, student loans, new credit card etc. as long as you pay on time. It sounds like what you did at the bank for the non-rewards card was have your mom apply for the card and simply add you to the account, which is common. Ultimately she was responsible for the debt, which is not the same as a co-signer. I've actually not heard of anybody co-signing for a credit card, but that doesn't mean it doesn't happen - I'm just some average dude on the internet. extravadanza fucked around with this message at 19:15 on Jan 5, 2016 |
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Jan 5, 2016 19:11
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I have the Starwood AmEx card, so I like getting the 2 stay / 5 night credit every year. But I'm thinking about canceling or downgrading it (not sure the $95 fee is worth it). What happens to that credit that is already showing up in my account - does it go away, or have I already gotten it for 2016 now?
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Jan 5, 2016 19:18
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extravadanza posted:Have you considered getting a crappier card first? I think I used a really basic venture card with 1% cash back for about 9 months before I was able to apply for better cards(Chase freedom, then Sapphire and Amex Blue Cash over the course of 2 years). This was right after graduating from college. Credit will build up pretty quick to reasonable levels while you are paying off a car, student loans, new credit card etc. as long as you pay on time. I don't know how it works, but my card has my name on it. They sent both of us cards and we both get bills sent to us separately. I tried applying by myself and they denied me, I was only accepted when I added my mom to it. I've checked my credit report and it shows my credit card payments, so it's not like it's just counting towards my mom's credit (which was already pretty stellar). I was just thinking it'd be nice to get a 2% discount on everything I buy, and I always pay my card off in full every month. So I'm not out to trash my mom's credit or anything. 
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Jan 5, 2016 19:20
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Ludwig van Halen posted:I don't know how it works, but my card has my name on it. They sent both of us cards and we both get bills sent to us separately. I tried applying by myself and they denied me, I was only accepted when I added my mom to it. I've checked my credit report and it shows my credit card payments, so it's not like it's just counting towards my mom's credit (which was already pretty stellar). It sounds like you're an authorized user on your mother's account. If the card is from Citi, then you almost certainly are as Citi doesn't offer the ability to co-sign an account. There isn't anything wrong with that, as you've found out the card still shows up on your credit report and will help you build credit if you're unable to qualify on your own. The major difference between co-signing and an authorized user is that in the former both parties share responsibility for the debt and in the later the authorized user is not responsible. The co-signer may also not receive a card, though I'm not certain on that point. In this case, the differences don't seem like they matter and the major issuers, Amex, Chase, and Citi, all don't offer co-signing.
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Jan 5, 2016 19:34
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