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Positive is lower utilisation, negative is ??? Unless you can't control spending and a higher limit would lead to more spending
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Dec 20, 2016 19:55
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If really stretching to find something, one possible negative is you can occasionally run into a creditor who doesn't like seeing too much in open credit lines and might decline some kind of application. This would probably be something with weird requirements like a credit union maybe. Of course even if that happens you could just decrease an existing line and then reapply. It would also require reallly high totals, and one card wouldn't get you that high.
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Dec 20, 2016 21:12
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I'm one to regularly increase my credit limits (every 6 months or so) just to help my utilization. In the past I received comments like this:Bisty Q. posted:The high limits thing is on a per-bank basis. Most banks operate in that they have an internal total credit limit they're willing to give you, and if you have enough cards to hit or exceed that limit, you won't be automatically approved for a new card. Not being auto approved is bad news for a churner, so that's why there's so much talk of micro-ing it. I don't really see a downside to requesting limit increases, though check with your issuer if they're one to do any sort of credit pull (if you care). Some banks do no pull, some do a soft pull, and some do a hard pull.
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Dec 20, 2016 21:55
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P_T_S posted:Quick question: Should I reply to my Chase card's request for income info so they can increase my credit limit? It is my only credit card and I usually only spend 15% or less of my limit and pay it off every month. What are the positives/negatives of having more credit? My feeling is that if you're going to have a new hard pull on your credit report, you may as well incur it by applying for a new card instead so you can get a bonus. Otherwise I agree with everything that's been said.
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Dec 20, 2016 22:19
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P_T_S posted:Quick question: Should I reply to my Chase card's request for income info so they can increase my credit limit? It is my only credit card and I usually only spend 15% or less of my limit and pay it off every month. What are the positives/negatives of having more credit? They sent me this request twice in the last month or so. I have plenty of credit across all my cards so I ignored it. Checked my last statement and they auto increased my line and almost doubled it.
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Dec 21, 2016 02:42
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The travel credit on my CSR just rolled over. Awesome that I got $300 of transit after opening and another $300 right away. Used my first $300 to load up the balance on my transit card (commute by train each day, ~$12 round trip).
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Dec 21, 2016 03:26
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Vox Nihili posted:The travel credit on my CSR just rolled over. Awesome that I got $300 of transit after opening and another $300 right away. Used my first $300 to load up the balance on my transit card (commute by train each day, ~$12 round trip).
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Dec 21, 2016 03:28
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Star War Sex Parrot posted:I noticed that I had a couple small parking transactions (one or two bucks) count toward my travel credit. I wonder if my $800/year school parking pass will count. Not if it's coded as paid to the school. If it's a different merchant in their system... Maybe.
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Dec 21, 2016 03:38
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Also got some parking covered. Now I'm wondering if I cancel the card after I hit the $300 and get some of the $450 back or if I can justify paying $450 again. So far... -$450 fee +$300 travel bonus +$100 Global Entry +$1,500 airfare for family vacation with 100k points = $1,450 gained by getting the CSR That also doesn't include the new $300 travel benefit bringing it to $1,750. I plan on getting a rental car soon so more savings. Seems that the longer you hold the card it will quickly decline in overall value. Just becomes whether it's worth $150 a year for rental car discounts and 1.5x on travel for points earned. Plan is to rinse and repeat under my wife's name next year though!
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Dec 21, 2016 03:46
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Can you just got back and forth between the csr and CSP, just get the new card and close the old one, repeat after 12 months?
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Dec 21, 2016 06:38
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ilkhan posted:Can you just got back and forth between the csr and CSP, just get the new card and close the old one, repeat after 12 months? I'm thinking mix in the various platinum cards for some variety.
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Dec 21, 2016 14:19
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ilkhan posted:Can you just got back and forth between the csr and CSP, just get the new card and close the old one, repeat after 12 months? Perhaps, but with credit card companies continuing to tighten their application rules and the CSR being less than a year old, it's impossible to say with any certainty
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Dec 21, 2016 14:23
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Years ago I got my Sallie Mae thanks to this thread, never thought I'd be back here sad about it going away. Goddamn.
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Dec 21, 2016 20:31
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*~these are the financial milestones of our lives~~~~
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Dec 21, 2016 21:21
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I use Double Cash and the Costco card. Come at me.
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Dec 21, 2016 21:27
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No Butt Stuff posted:I use Double Cash and the Costco card. Come at me. This is my current combo as well. The only thing I don't like is Citi's customer service is probably the worst of all my cards (except some cap one cards I don't use). I've had good experiences with Chase, Amex and Discover
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Dec 22, 2016 01:55
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Is there a reason not to get the Chase Reserve Preferred now that I have the Sapphire bonus? I can combine the bonus points right?
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Dec 22, 2016 01:59
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I barely ever use my default credit card (US Bank Perks +) and I only chose that since it was the recommended choice when I was switching to US Bank since my old bank (UMB) wasn't supported whatsoever where I went to college. Is there a clear-cut better option (preferably with a $0 annual fee) for someone who has a credit score of 805? I'm hoping that paves the way to something that's actually worth going through the effort to use.
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Dec 23, 2016 03:36
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Citi Double Cash or Fidelity Rewards Visa (both 2% cash back) are still the default response, I think. If you're looking for travel perks, or have a high initial bonus offer you think you can hit (i.e. $4000 in 3 months) then that could change the recommendations.
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Dec 23, 2016 03:44
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Travel/hitting an initial bonus aren't in the cards for me right now, so I'll check those two out. Thanks!
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Dec 23, 2016 03:51
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Costco card might be a good option as well, depending on if you shop there already.
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Dec 23, 2016 03:54
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Now that fidelity is a visa, I think it should be the default choice for cash back.
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Dec 23, 2016 19:58
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Like everyone else, I've been pretty interested in the CSR, but since I can't pay rent with my card anymore I don't have a guaranteed way to hit the spend requirement for the bonus. But, I just found out today that I can pay my wife's last student loan off with a credit card. My first thought was to immediately apply for the CSR and sneak in $300 of travel spend before the end of the year to get double the travel credit. Looking at previous posts though, it looks like that won't work because my first statement would be in January. I guess it would make the most sense to wait a couple months so I can get the credit in 2017 and 2018? I'm not sure it would be worth it for me to keep the card, but the first-year value is undeniable even without much consistent spend.
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Dec 23, 2016 22:20
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You can use Plastiq to pay the rent for anyone, they just send a check. Of course you have to pay credit card fees but it makes it easy to reach that $4K.
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Dec 23, 2016 23:28
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The other thing you can do is fund a few bank accounts with the card. PNC lets you do it, and you can knock out the spend requirement in minutes.
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Dec 24, 2016 02:42
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I got my csr over the summer and in the past week I started getting another $300 in travel credits. I think they reset a bit before the year ends so you can double dip with one annual fee.
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Dec 24, 2016 03:18
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After maybe a month and a few of CSR ownership, I've already been able to take advantage of the following: - 100k bonus points - first year $300 travel credit and about $40 into the second year (refunds Lyft rides fyi) - airport lounge access for me, my wife and kid, although I'm the only cardholder - 1:1 conversion rate on foreign transactions (rented a baggage cart in Frankfurt for 1 € and the charge was $1.04... and it was refunded by the travel credit) Still planning on doing the global entry. Not sure if I'll keep the card a second year but am very satisfied with the value so far. Sits on Pilster fucked around with this message at 09:41 on Dec 24, 2016 |
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Dec 24, 2016 09:38
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steimer posted:The other thing you can do is fund a few bank accounts with the card. PNC lets you do it, and you can knock out the spend requirement in minutes. How does this work?
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Dec 24, 2016 15:48
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If you use Metro North or LIRR, and have an iPhone, and have a Chase card, you can get up to $30 back on tickets bought through the new MTA e-Tix app: https://www.chase.com/digital/digital-payments/apple-pay/apple-pay-mta I had no idea this existed but got the credit accidentally.
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Dec 24, 2016 16:15
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BEHOLD: MY CAPE posted:How does this work? Many banks let you make your initial deposit via credit card. Typically the amount is somewhere in the neighborhood of $500-$3000, although last year Citi allowed you to fund a Citigold account with up to $100,000 from a credit card (o_O). You need to be careful that credit card funding posts as a purchase and not a cash advance, or else you'll be hit with some big fees that make it not worth it. Here's a handy resource to see which cards to use for which banks: http://www.doctorofcredit.com/does-funding-a-bank-account-with-a-credit-card-count-as-a-purchase-or-cash-advance/ e: To close the loop, you simply pay off your credit card with money you deposited in your new bank account.
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Dec 24, 2016 16:36
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Is there any consensus yet on the best way to get the $100/$200 airline credit for AMEX PRG/Plat now that the United MileagePlus is dead for Amazon gift cards?
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Jan 3, 2017 20:50
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Airline gift cards are pretty much it; there should be plenty of updates on flyertalk in a few days since the new year started. If you just want cash you'll need to resell the gift card
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Jan 3, 2017 21:16
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Chase Sapphire Reserve signup bonus is being reduced from 100k down to 50k as of January 12th, though the offer will apparently still be available if you apply inside a branch until March 12th.
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Jan 3, 2017 21:29
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THF13 posted:Chase Sapphire Reserve signup bonus is being reduced from 100k down to 50k as of January 12th, though the offer will apparently still be available if you apply inside a branch until March 12th.
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Jan 4, 2017 01:34
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I just signed up for it in December. Want to sign my wife up too but getting both minimum spends in overlapping months might be tough.
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Jan 4, 2017 02:11
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THF13 posted:Chase Sapphire Reserve signup bonus is being reduced from 100k down to 50k as of January 12th, though the offer will apparently still be available if you apply inside a branch until March 12th. Ooh that sucks. My travel might fall outside of that window. I guess I could take a chance and apply for it anyway.
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Jan 4, 2017 03:52
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Applied for Sapphire Reserve but got the "your application is under further review" page. I suspect it's because I already have three cards with Chase (Sapphire Preferred, United, Southwest Premier), but anyone have a similar experience and found that it was for that reason? I was planning on consolidating all three cards into this one, not sure if there's any way I can let them know that.
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Jan 4, 2017 21:40
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Both my wife and I got that and it meant we were denied so welp.
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Jan 4, 2017 21:42
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Chase has a reconsideration line you can call. They most likely don't want to approve you for more credit than you already have with them, especially since I think the minimum credit line for the CSR is $10,000. You should be able to call and ask if they can move available credit from your other cards to the Reserve. My plans to get the bonus for the Preferred and Reserve for 150k points might have just gone up in smoke, I'm technically under 5/24 as of March 24th so my only shot would be to apply in a branch before then, get denied and then call the reconsideration line in April. Not sure if their reconsideration line works for in branch applications though.
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Jan 4, 2017 21:51
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illcendiary posted:Applied for Sapphire Reserve but got the "your application is under further review" page. I suspect it's because I already have three cards with Chase (Sapphire Preferred, United, Southwest Premier), but anyone have a similar experience and found that it was for that reason? I was planning on consolidating all three cards into this one, not sure if there's any way I can let them know that. Rated PG-34 posted:Both my wife and I got that and it meant we were denied so welp. When I originally applied for the CSR (which I was well under violation of 5/24 at the time) I received that message and presumed I was denied as well. About a week later I got a notice that I was approved. Didn't call or nothing (as I heard that was basically application homicide at the time) so there's hope. I'm considering trying to get another with my wife but she has very little income (stay at home Mom with side business) and has been an authorized user on the many many cards I've signed up for over the past few years. Worth a shot though!
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Jan 4, 2017 21:56
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