Thats what I was thinking. Thanks for the input y'all .
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Re: AMEX SUB QUESTION
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Re: US Bank Altitude Reserve approval odds
Congrats on your approval and lines with US Bank. I read they typically give low credit lines to start so starting with $16,500 says a lot. I think for the mean time I am going to hold off with the application till my scores get higher. I just filed a dispute with the CFPB on the collection I have under my account and am going to see where that goes.
Most of my spend comes from travel/dining so the CSR is in line with my rewards needs currently. I have a SW Premier card that I opened about 18 months ago that I have a 7K limit on. Was thinking about moving the credit limit over to my CSR and closing the card, waiting 24 months, then reapplying for it and another SW card so I could get the companion pass. I do a decent amount of travel on SW and it might end up being a decent idea. I don't run 100K through my credit cards a year so I figure the only way to get the companion pass would be sign up bonuses with normal spend.
Thanks again
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Re: Garden Club - February 2018
wrote:
We even have a laces out and Finkle momentImage may be NSFW.
Clik here to view.
Pet Detective?
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Credit card arbitrage
Ok probably not the best title, but when all the banks keep trying to entice me with their 0% APR BT offers, I started doing some reading and realized that 0% APR AND 0 BT fee cards do exist, specifically Chase Slate and BankAmericard (the MC version) + a bunch of CU cards.
Now, I've received more than enough BT checks from BoA to know that I can indeed write them out to my name and cash them, effectively allowing me to do a "BT" (really more of a cash advance) up to my credit limit. So let's suppose I applied for the BankAmericard, then shifted my CL around so it had say a 20K limit. I could then request a BT check to the tune of $15000, and then let it sit pretty in a high-yield savings account (or a 12 month CD) to garner interest (let's call it 1.5%) As long as I made the minimum monthly payments to stay current, and paid off the entire sum before the 0% promo period expired, that's effectively an easy $200+ in interest a year.
Obviously I could (and probably should/would) invest that money for a much higher ROI, but I'm just considering the simplest scenario here to make things easier. Does anyone see any issues with this plan? I know I'm going to take a severe ding to my FICO for having super high util (>75%), which opens me up to potential AA, and the obvious risk of loss of principal in investments. But other than that I can't think of any. So part of me thinks it's just too good to be true -- what bank would front you $15K and let you use that money completely interest free for a year as long as you repaid them in full after 12 months or however long the 0% promo period was? Feels like there's gotta be a catch somewhere.
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Re: Credit card arbitrage
Another thought: just realized this could be a perfect way to have your cake and eat it too when it comes to buying cars.
Cut yourself a BT check to make up whatever amount you need to buy a car in cash (so you get the cash rebate). Then take advantage of the 12/15/18 month 0% APR to effectively receive 0% APR financing AND buy the car at the cash rebate price.
I feel like I'm definitely missing something here... 🤔🤔
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Re: Credit card arbitrage
IMO alot of headache with not much return and with "risker" investments there is a chance something to go wrong. In-turn chance of AA from issuer assuming you CL is 15k and you make min. monthly payment. I prefer to chase checking account bonuses average are 200-300 with easy requirements as they are easy cash for not much effort as long as you have the cash to float several or even one at any given time.
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Re: Upgrade Capital One Quicksilver One to Quicksilver
Just got approved for Quicksilver One, $3,000 CL. Did not expect an approval, this is great!
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Re: Credit card arbitrage
Oh believe me I'm chasing bank bonuses like crazy this year. My goal is to get to $1500 if at all possible (or at the very least, $1200).
The stuff about BT is all theoretical at this point. Ideally if I really were to do this it'd have to be 35K on a 50K limit card to make it worth my while, but that's somewhat wishful thinking at this point. What got me started was thinking about the practical advantages of a high CL and how I could make the most of it. Besides, only so many bank bonuses you can churn every year. 😂😂😂
What about the scenario involving car buying? If everything plays out like I described then seems like it truly is a way to get the cash rebate and enjoy "0% financing" at the same time. Invariably when a dealership offers "0% financing", it isn't really 0% since you're giving up the cash rebate, which typically amounts to 5-10% of a car's MSRP.
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Re: Credit card arbitrage
I think your analysis is fine, but it shouldn't be surprising. The issuers expect the vast majority of their customers not to do something like this. It's not very different from using a card only in the 5% categories, which loses some money for the issuer, but again, most people don't do just that. If the 0% become a problem, the issuers would change the rules.
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Credit Cards w/ Great SCRA Benifits
First off, if you searched and came accross this thread, most likely you know what SCRA is. If not, check out this link SCRA: Servicemembers Civil Relief Act Overview. Below will be information about credit cards that go above and beyond the standard SCRA requirements, as standard requirements are a legal requirement. Please remember to verify fax numbers and locations you input personal information, I will do my best to validate information provided.
Capital One:
4% Interest, No Fees
Applies to new accounts (to include spouses) created after joining military service
Capital One Servicemembers Civil Relief Act (SCRA) Request for Benefits
Verified by: teamXDR
Synchrony Bank:
0% Interest
Applies to new accounts created after joining military service
Fax request (included active military orders or other documents) to: (866) 694-6580 or mail to: Synchrony Bank, SCRA Dept, PO Box 965074, Orlando, FL 32896
I was also able to request benifits for a specific card (PayPal Extras) by sending documents through their card portal.
Verified by: teamXDR
Target Red Card:
0% Interest
Applies to new accounts (to include spouses) created after joining military service
Fax request (included active military orders or other documents, also include account ID number) to: (612) 307-5052 or mail to: Target Card Services, Mailstop 5C-F, P.O. Box 9475, Minneapolis, MN 55440
Contact (866) 474-4680 for more information, from personal experience you may have to explain what SCRA is for CS to understand which dept to transfer you to.
Verified by: teamXDR
USAA:
4% Interest for 1 year after sending PCS orders
This is not a SCRA benifit, but still related to servicemembers .
Request this benifit by sending a copy of PCS orders through their online portal.
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Re: Target Red Card and PayPal Extras 0% SCRA!
Posted more details here; http://ficoforums.myfico.com/t5/Credit-Cards/Credit-Cards-w-Great-SCRA-Benifits/td-p/5154810
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Re: CAP ONE raised the AF on the Venture Card
wrote:
wrote:Keep in mind the no-AF Venture One also works with the Hotels.com promo, and at the same 10x rate. Image may be NSFW.
Clik here to view.True, but 1.25x earning rate on everything else makes it a useless card IMO.
Right, but some of us (including you I think!) believe that the Venture is a waste of money after the first year, compared to a free 2% card. So the only good point is the 10x Hotels.com, which you can get for free with Venture One. Yes, the earn on Hotels.com is going to be a little less, but not a whole lot compared to the 10x
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Re: Credit card arbitrage
Sweet. I know exactly what to do next time I'm in the market for a car.
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Re: Garden Club - February 2018
Glad to see that the special teams remembered they were supposed to be aiming BETWEEN the poles!
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Re: Garden Club - February 2018
wrote:
48Image may be NSFW.
Clik here to view.
Jimmie Johnson
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Heads Up!!! Citi Now Charging Cash Adv Fee's Cryptocurrency
Was not sure of the appropriate place to post this so please feel free to move to the correct area.
Been using my card on Coinbase for many months and it was cash advance fee free. This month though, I guess they figured
(as well as many other companies as Coinbase made announcement that many card companies will now start charging ) they were losing tons of money and somehow justified in their mind
(I disagree ) this was a cash advance.
I was able to get them to waive the first and only $75 charge, but it's not an easy battle so have your heart in it Image may be NSFW.
Clik here to view.![Smiley Happy]( "Smiley Happy")
My basis for an argument was simple. If you want to change your policy midstream and start to classify a purchase as a cash advance, when prior you did not, you OWE it to me and others to NOTIFY us CLEARLY of that change so that we are given an opportunity to no longer use your card for that purchase.
If you see that the customer has been using a card to make those purchases for many months and has never been charged, the only assumption is going to be that they can continue to use it without a charge.
You want to change your mind, great, that's your option to do so and I cannot argue it. Your card. Your rules. I have the option of not using It.
But the keyword here is rules, and if you're going to change the rules in the middle of the game, and worse, not even notify us of those changes, that is not borderline, but downright deceiving.
My guess is simply this. They are already prepared to receive thousands of calls this month concerning it and I guess they figured if they notified everyone, they would lose more money than if they just charged it and then refunded the ones like me who took it farther than "sorry, at this time we cannot credit you back those fees"
I believe there are some instances where you should yell and scream, but this is not one of them. I was very nice, extremely respectful, spoke my part very articulately and logically and told him that where as prior I really loved Citicards and was PRO Citi, that now because of this misleading and somewhat deceiving situation, it will now leave a very bad taste in my mouth and I would have to share my experiences with social media.
I also thanked him and told him I understood that his hands were tied and this was a corporate situation and that I was not mad at him personally.
That last part seemed to do it, and he said for what it's worth, I really do understand and absolutely agree with you and give me a few minutes and let me see if I can possibly get this done for you by speaking with my supervisor, no promises.
This was about a 10 minute call so be prepared to talk well. He came back and said he got the fee removed and I seriously and genuinely thanked him. Told him it was refreshing to have someone at a corporate level understand the views of their customers.
Maybe this was a rare occurrence, as I do have the gift of gab and the ability to do such things. But also maybe, the upper management has been told to not refund the charges UNLESS customers asks to speak to the supervisor in which case they should.
Good luck in getting your fees removed! They started appearing last week and will be on this months billing cycle.
Been using my card on Coinbase for many months and it was cash advance fee free. This month though, I guess they figured
(as well as many other companies as Coinbase made announcement that many card companies will now start charging ) they were losing tons of money and somehow justified in their mind
(I disagree ) this was a cash advance.
I was able to get them to waive the first and only $75 charge, but it's not an easy battle so have your heart in it Image may be NSFW.
Clik here to view.
My basis for an argument was simple. If you want to change your policy midstream and start to classify a purchase as a cash advance, when prior you did not, you OWE it to me and others to NOTIFY us CLEARLY of that change so that we are given an opportunity to no longer use your card for that purchase.
If you see that the customer has been using a card to make those purchases for many months and has never been charged, the only assumption is going to be that they can continue to use it without a charge.
You want to change your mind, great, that's your option to do so and I cannot argue it. Your card. Your rules. I have the option of not using It.
But the keyword here is rules, and if you're going to change the rules in the middle of the game, and worse, not even notify us of those changes, that is not borderline, but downright deceiving.
My guess is simply this. They are already prepared to receive thousands of calls this month concerning it and I guess they figured if they notified everyone, they would lose more money than if they just charged it and then refunded the ones like me who took it farther than "sorry, at this time we cannot credit you back those fees"
I believe there are some instances where you should yell and scream, but this is not one of them. I was very nice, extremely respectful, spoke my part very articulately and logically and told him that where as prior I really loved Citicards and was PRO Citi, that now because of this misleading and somewhat deceiving situation, it will now leave a very bad taste in my mouth and I would have to share my experiences with social media.
I also thanked him and told him I understood that his hands were tied and this was a corporate situation and that I was not mad at him personally.
That last part seemed to do it, and he said for what it's worth, I really do understand and absolutely agree with you and give me a few minutes and let me see if I can possibly get this done for you by speaking with my supervisor, no promises.
This was about a 10 minute call so be prepared to talk well. He came back and said he got the fee removed and I seriously and genuinely thanked him. Told him it was refreshing to have someone at a corporate level understand the views of their customers.
Maybe this was a rare occurrence, as I do have the gift of gab and the ability to do such things. But also maybe, the upper management has been told to not refund the charges UNLESS customers asks to speak to the supervisor in which case they should.
Good luck in getting your fees removed! They started appearing last week and will be on this months billing cycle.
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Re: Garden Club - February 2018
The EAGLES WIN IT!!!!
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Re: Garden Club - February 2018
wrote: Ugh what a day with the stock market today and last week.. I don't want to look at my 401k/IRA as don't want to see how much I have lost in value.. Least it isn't lost as I haven't sold anything nor do I plan to lol... It will come back as it always does whether it takes weeks or alot longer. Least I did not buy crypto. currency I suppose when the craze was going on or certainly could be alot worse off depending on when one bought!
/end rant Image may be NSFW.
Clik here to view..
Our biz runs counter stock market and we love people that refi their house to buy bitcoin. I think that will start the wheels in motion for a busy 2nd half the year. I think our income just went up another $50K for the year. The only question is which client(s) I sincerely wish people managed their money better. We make very good money helping people 'fix " things that should never have been done in the first place.
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Re: Garden Club - February 2018
@Jago22 wrote:
wrote:We dont need no education....
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Chase Old Product Change Cards Still Valid?
We have one Chase card that was changed a couple times recently. CSP, Sappire, Freedom Unlimited. The card number remains the same, but the expiration and CVC code have changed each time. I just wonder if the old cards still work. Of course we only receive the benefits from current active card.
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