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Rather than maximizing my cash back, I'm hoping to get approved for the highest limit possible that I can get with a 700 credit score and a graduate student (re: basically no) income. Graduation is coming in 7 months I'm expecting to need to live off credit for up to 2 months afterward while I find a job, if I am not so blessed as to have one lined up before graduation. How much could I get and where should I look? I have pre-approvals for $1,500 limits coming through the mail, but that's not enough and I'd prefer not to apply to multiple cards (I like to keep my credit card management minimal).
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Nov 2, 2016 00:23
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| # ? May 14, 2024 00:55 |
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Jesus christ, how do you plan to "live off credit cards" for "up 2 months"? Only way that would make sense is if mommy and daddy are paying things like rent I guess?
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Nov 2, 2016 00:38
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Pryor on Fire posted:Jesus christ, how do you plan to "live off credit cards" for "up 2 months"? Only way that would make sense is if mommy and daddy are paying things like rent I guess? Nope, entirely paying everything myself.
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Nov 2, 2016 00:51
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Krunge posted:Rather than maximizing my cash back, I'm hoping to get approved for the highest limit possible that I can get with a 700 credit score and a graduate student (re: basically no) income. Graduation is coming in 7 months I'm expecting to need to live off credit for up to 2 months afterward while I find a job, if I am not so blessed as to have one lined up before graduation. How much could I get and where should I look? I have pre-approvals for $1,500 limits coming through the mail, but that's not enough and I'd prefer not to apply to multiple cards (I like to keep my credit card management minimal). This sounds like a terrible idea
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Nov 2, 2016 01:05
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Virtue posted:This sounds like a terrible idea While I know BFC has a history of people making poor financial decisions, please trust me in saying I'm not one of them. I'm not in a place where I have better funding options immediately post graduation while I get a job. 2 months of expenses is not my average expectancy, it is an extremely pessimistic estimate, but I need to plan for the worst. The credit card is also not the only thing I plan on looking into, and trust me when I say it is a last resort. However, it's at least something I need available beforehand, which is why I'm planning 7 months out. I have a thorough accounting of my expenses and have already made moves to cut expenses where I can moving into these following months, mainly food. I have no guaranteed support system I can rely on during my transitional period, therefore I'm taking every step I can to ensure against homelessness or starvation while I find a job. My graduate degree is in high demand with high pay, to reiterate that 2 months is very pessimistic, but I would never feel comfortable banking on a pre-graduation job. Please excuse me if that seemed like a lot to drop, or maybe even rude, but I just want to move to the part where I get some suggestions. High credit limit, that's what I'm looking for. I promise not to gently caress my life up taking unnecessary expenses on credit.
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Nov 2, 2016 01:25
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If you absolutely have to do it, then make sure to get a card with a 0% intro APR. The Chase Freedom line has 18 months of 0% If you are planning out 7 months in advance, then you should really look into getting a cash savings first.
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Nov 2, 2016 01:36
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Krunge posted:While I know BFC has a history of people making poor financial decisions, please trust me in saying I'm not one of them. I'm not in a place where I have better funding options immediately post graduation while I get a job. 2 months of expenses is not my average expectancy, it is an extremely pessimistic estimate, but I need to plan for the worst. The credit card is also not the only thing I plan on looking into, and trust me when I say it is a last resort. However, it's at least something I need available beforehand, which is why I'm planning 7 months out. I have a thorough accounting of my expenses and have already made moves to cut expenses where I can moving into these following months, mainly food. I have no guaranteed support system I can rely on during my transitional period, therefore I'm taking every step I can to ensure against homelessness or starvation while I find a job. My graduate degree is in high demand with high pay, to reiterate that 2 months is very pessimistic, but I would never feel comfortable banking on a pre-graduation job. You'll probably need multiple cards with 0% rates to cover that. Also, 2 months as the "worst possible" period of unemployment sounds optimistic. Are you sure you can even pay your rent and similar expenses via credit card, or do you have enough cash for that? It might be worth posting your current and planned budget and your savings for input as well.
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Nov 2, 2016 06:15
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Well this is embarrassing. While I had a thorough accounting of my expenses, I actually failed to take into account my full income due to the weird way my payments are structured. Turns out I'm not going to starve and/or be homeless without an immediate job unless I find 2 additional months of living expenses, because I already have them, plus a couple hundred extra for any unexpected expenses. Crisis averted.  I should still probably still get one more credit card though, my current credit consists of an amazon rewards visa and a single store card I don't even use that I only keep open because otherwise my age of credit would go down. With my 700 credit score, what would be best?
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Nov 3, 2016 00:17
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If you're just looking for a good general purpose card with no AF, pretty hard to do better than the Citi Doublecash.
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Nov 3, 2016 16:17
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Barry posted:If you're just looking for a good general purpose card with no AF, pretty hard to do better than the Citi Doublecash. Agreed. It's my default card now. Most of my spending is now on the Doublecash or the Citi Costco card. I like some of the features Citi offers as well (virtual acct numbers is a big one)
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Nov 3, 2016 16:21
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Barry posted:If you're just looking for a good general purpose card with no AF, pretty hard to do better than the Citi Doublecash. Not that hard; the Fidelity Visa is objectively better and you also get one of the two best checking accounts available (the other being Schwab).
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Nov 3, 2016 16:23
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I still don't get why everyone loves Schwab so much. Is it just the free checking/atms?
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Nov 3, 2016 16:36
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Pissingintowind posted:Not that hard; the Fidelity Visa is objectively better and you also get one of the two best checking accounts available (the other being Schwab). Nah, the cards themselves are a wash. Slightly lower FTF and Visa on the Fidelity, Price rewind, (I think) lower redemption thresholds and Mastercard on the Doublecash. Supposedly Fidelity's CC department puts Citi's to shame for incompetence too, for what that's worth. If you care about a Fidelity account, get a Fidelity account.
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Nov 3, 2016 16:37
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Barry posted:Nah, the cards themselves are a wash. Slightly lower FTF and Visa on the Fidelity, Price rewind, (I think) lower redemption thresholds and Mastercard on the Doublecash. Supposedly Fidelity's CC department puts Citi's to shame for incompetence too, for what that's worth. FTF is 2% lower (3% vs. 1%). You get your 2% cashback up front instead of though a stupid matching mechanism. Dunno what redemption threshold is on the Double Cash buts it's $25 for automatic redemption to a checking account for Fidelity. Fidelity recently switched to Elan (US Bank), who is much better than FIA (Bank of America), who they were using before (and better than Citi). Also, Fidelity occasionally has a $50-100 sign-up bonus.
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Nov 3, 2016 16:49
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The mechanism isn't "stupid", it's incredibly simple. You don't need an external account to get your rewards (that's probably more stupid), they just get applied as a statement credit or a check whenever you feel like it. If you need a travel card, get a travel card or a Schwab debit or something. Paying even 1% FTF is probably too much. Anyway, the advantages and disadvantages are a wash. If you're in the Fidelity ecosystem, get the Fidelity. If you have Citi accounts, probably makes more sense to get the Citi. If there's a signup bonus, get the Fidelity (or Chase Freedom). If none of these are true, get the Citi.
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Nov 3, 2016 17:01
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Pryor on Fire posted:I still don't get why everyone loves Schwab so much. Is it just the free checking/atms? Free checking/ATMs, good customer service, pretty good EFTs/Target Date funds for retirement funds as well
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Nov 3, 2016 17:10
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I have a 680 credit score and want to get my first credit card. I travel frequently for buisness and this would be how i would use it. I would pay my balance almost immedietly when used. I will not use this card to pay anything else. I have zero debt. I expect to spend probably 3-5k on travel for buisness this year. I am leaning toward the chase saphire reward. Good or bad card
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Nov 3, 2016 18:05
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Waroduce posted:I am leaning toward the chase saphire reward. Good or bad card
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Nov 3, 2016 18:28
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Barry posted:The mechanism isn't "stupid", it's incredibly simple. You don't need an external account to get your rewards (that's probably more stupid), they just get applied as a statement credit or a check whenever you feel like it. Not sure why your final conclusion is to get the Citi when there are no real advantages over the Fidelity, or why your recommendation for travelers is to get another card when we're explicitly talking about the card to hold if you only want one, but ok. You can get Fidelity rewards without the Fidelity checking account in check format, too. Your point that the products are similar stands, but your point that the products are a wash doesn't.
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Nov 3, 2016 18:58
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Pryor on Fire posted:I still don't get why everyone loves Schwab so much. Is it just the free checking/atms? Yes, and no FX fees combined with great service. Fidelity's product is identical.
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Nov 3, 2016 18:59
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Pissingintowind posted:Your point that the products are similar stands, but your point that the products are a wash doesn't.
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Nov 3, 2016 19:28
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Pissingintowind posted:Not sure why your final conclusion is to get the Citi when there are no real advantages over the Fidelity, or why your recommendation for travelers is to get another card when we're explicitly talking about the card to hold if you only want one, but ok. They're the same card, more or less - Fidelity is not "objectively better." That's the only point I'm trying to make. One has a little column A, one has a little column B. But yes, they're both fine cards.
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Nov 3, 2016 19:44
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Has anyone with a CSR been charged the AF yet? I've had mine since launch week and the only AF activity I've had is a partial refund of the previous CSP AF of $95. I expected the fee to be on the first statement, but so far nothing.
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Nov 3, 2016 21:46
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gregday posted:Has anyone with a CSR been charged the AF yet?
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Nov 3, 2016 21:53
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Pryor on Fire posted:I still don't get why everyone loves Schwab so much. Is it just the free checking/atms? Unlimited ATM fees refunded is such a fantastic feature. Paired with the 0% foreign transaction fee it means you can withdraw money from every ATM on the planet basically without paying a fee. It's incredibly useful for traveling, but great even if you don't. Fidelity's cash management actually does the same thing, but the official terms say there is a 1% foreign transaction fee but they seem to waive it for ATM withdrawals. I might recommend the Freedom over the Fidelity Visa or Doublecash depending on how much you spend. If you don't take advantage of the 5% categories on the Freedom at all the extra cashback for the Fidelity/DoubleCash only breaks even with the Freedom's $150 signup bonus after you spend $15,000 on the card. I think the signup bonus for the Fidelity card is only offered randomly if you already have an account with them.
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Nov 3, 2016 21:55
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gregday posted:Has anyone with a CSR been charged the AF yet? I've had mine since launch week and the only AF activity I've had is a partial refund of the previous CSP AF of $95. I expected the fee to be on the first statement, but so far nothing. Weird, mine hit really fast, like within the first 2 weeks.
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Nov 3, 2016 22:03
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Mine (CSR new account) posted on the first of the month
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Nov 3, 2016 23:12
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DeceasedHorse posted:Mine (CSR new account) posted on the first of the month Same.
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Nov 4, 2016 03:11
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THF13 posted:Unlimited ATM fees refunded is such a fantastic feature. Paired with the 0% foreign transaction fee it means you can withdraw money from every ATM on the planet basically without paying a fee. It's incredibly useful for traveling, but great even if you don't. Fidelity's cash management actually does the same thing, but the official terms say there is a 1% foreign transaction fee but they seem to waive it for ATM withdrawals. Question - does the Schwab checking allow you to deposit cash at another bank's ATM for free? Pretty much the only thing stopping me from getting an online checking account is the inability to deposit cash
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Nov 4, 2016 03:25
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EugeneJ posted:Pretty much the only thing stopping me from getting an online checking account is the inability to deposit cash 
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Nov 4, 2016 03:42
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What is the opinion on the Ally CashBack Visa? - https://www.ally.com/bank/cash-back-credit-card/ I have an extremely good credit score. Just want to get some decent rewards without much management, I doubt churning or whatever is really for me. I would use the Ally deposit bonus and put the cash back into my e-fund. Not sure how the math compares to something like the Citibank Double Cash. Is there anything better?
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Nov 4, 2016 23:19
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themaninblack posted:What is the opinion on the Ally CashBack Visa? - https://www.ally.com/bank/cash-back-credit-card/ It's not bad, but it's nothing special, and you can do better. The Ally card gives 1.1% generally and 2.2% on gas and groceries. The Double Cash is a straight 2% (assuming you pay the balance in full every month - if you ever carry a balance, of course, don't get a rewards card). Unless almost all your spending is on gas and groceries, the Double Cash is a better deal. If you're looking for specific rewards on gas and grocery spending, the Amex Blue Cash Everyday is 3% on groceries, 2% on gas, and 1% on everything else. You can also look at the Blue Cash Preferred if you do more than about $250/month on groceries (the increased rewards make up for the annual fee) or the Costco Visa if you shop a lot at and get your gas at Costco.
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Nov 5, 2016 01:56
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Space Gopher posted:It's not bad, but it's nothing special, and you can do better. The Ally card gives 1.1% generally and 2.2% on gas and groceries. What about the Chase Freedom Unlimited? Can get $175 in bonuses right off the bat + 1.5% cash back. Not sure how long it will take for the the Citi to catch up to that dollar wise. Also, how bad of a credit score hit is opening a new card? I'm not worried about it, just more curious than anything.
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Nov 5, 2016 14:46
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themaninblack posted:What about the Chase Freedom Unlimited? Can get $175 in bonuses right off the bat + 1.5% cash back. Not sure how long it will take for the the Citi to catch up to that dollar wise. A large signon bonus is going to be more upfront unless you have extremely large spending. The hit is tiny.
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Nov 5, 2016 15:04
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CSR chat, if I cancel it after a year, does the +1 year extended warranty get canceled as well? Or can I still file a claim if I've got my documents/ducks in a row?
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Nov 5, 2016 18:14
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CSR chat: How quick is the turnaround from application to card arrival?
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Nov 7, 2016 04:09
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They sent it via UPS Next Day Air to me. 2 business days total.
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Nov 7, 2016 04:35
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ilkhan posted:CSR chat: How quick is the turnaround from application to card arrival?
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Nov 7, 2016 05:02
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Sweet. So I don't need to apply until I get an offer letter then. Thanks!
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Nov 7, 2016 05:11
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My CSR took a few days, but I did a PC from a CSP instead of a new application. Maybe that has something to do with why I haven't been charged an AF yet.
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Nov 7, 2016 15:14
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