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re: Credit Card Rewards and Points Discussion
Posted on 7/21/17 at 11:34 am to AmeriKop45
Posted on 7/21/17 at 11:34 am to AmeriKop45
Just applied for a Freedom Unlimited today because I have a large purchase coming up and I'd rather get points (plus 15 months interest free) than use in house financing. I was rather shocked when I was instantly approved for a $16,900 credit line. I have to think that, at some point, Chase is going to get nervous about how much I could overheat those cards if I get cancer tomorrow and decide to move to some nice non-extradition country 
1
Posted on 7/21/17 at 3:28 pm to Joshjrn
They drop 20/30 on my wife all the time and I have to go back and lower then to 10. Just absurd.
Posted on 7/22/17 at 1:02 pm to Teddy Ruxpin
I finally said F it and got the CSR and they gave me $35k. I may lower it too so it doesn't affect other cards or the fact that I'm looking to buy an investment property and it could seem like I have too much credit.
Posted on 7/22/17 at 4:43 pm to VermilionTiger
quote:
really don't know much about the Credit Card game. I currently have a $300 limit Capital One credit card that I just use for Gas and pay at the end of the month ?
$300 limit? That's awfully low if you're well off financially as you say. quote:
like to start using a credit card to get some sort of return on what I purchase. Any recommendations? Late 20s, set up well financially, truck note, apt rent, etc.
If you don't have much credit I'd apply for something like the chase Freedom which has no annual fee and 5x's points categories every quarter.
It's one of my first cards I got and I still use it today to rack up points with those 5x categories, as many other posters here do as well.
Once you build some nice credit you can get a more "prestigious" card like the Sapphire reserve, Amex Platinum or whatnot.
Just learn to put EVERYTHING on your card and ALWAYS pay it off in full every month. It's free money if you're responsible.
Posted on 7/22/17 at 5:24 pm to Sho Nuff
quote:
I finally said F it and got the CSR and they gave me $35k. I may lower it too so it doesn't affect other cards or the fact that I'm looking to buy an investment property and it could seem like I have too much credit.
Yup, that's why I lower it. My wife has 5 personals open and the 70k United offer on her United account available until end of the month. Try to make sure she gets auto approved because she 1) Hates doing the reconsideration call, and 2) is fricking awful at it and says exactly what I tell her NOT to say
This post was edited on 7/22/17 at 5:26 pm
Posted on 7/22/17 at 5:52 pm to Teddy Ruxpin
quote:
2) is fricking awful at it and says exactly what I tell her NOT to say
What's your advice on what to say if you don't mind me asking?
I just applied for the Chase Ink. It's my first business card. I usually get approved right away for personal cards, but this one is pending as I assume the process is different. If I have to do said reconsideration call I'd like to increase my chances.
Posted on 7/22/17 at 7:00 pm to rintintin
quote:
$300 limit? That's awfully low if you're well off financially as you say.
I got it in the mail and just decided to sign up for it
quote:
If you don't have much credit I'd apply for something like the chase Freedom which has no annual fee and 5x's points categories every quarter.
Credit rating is 745.
Posted on 7/22/17 at 8:14 pm to VermilionTiger
Even with the nice credit score you'll probably have to start with some of the lessor cards. Be prepared for low credit limits to start. But...you never know.
Posted on 7/22/17 at 8:56 pm to VABuckeye
Should I just start by applying for a bunch?
Posted on 7/23/17 at 11:11 am to rintintin
quote:
$300 limit? That's awfully low if you're well off financially as you say.
Capital One is relatively stingy and it would be possible for him to have no credit experience while still spending and saving frugally.
Posted on 7/23/17 at 1:09 pm to rintintin
quote:
What's your advice on what to say if you don't mind me asking?
"I'm getting it for the sign up bonus"
This post was edited on 7/23/17 at 1:10 pm
Posted on 7/23/17 at 3:46 pm to VermilionTiger
I'd recommend applying for the discover card. Best cash back rewards in the beginning
Posted on 7/23/17 at 6:52 pm to VermilionTiger
quote:
Should I just start by applying for a bunch?
I wouldn't. If you have the credit score you say then you should have no problem being approved for most cards. I don't think you want 3-4 cards all coming in at once.
Find one with a decent sign up bonus and good point categories and go from there.
Posted on 7/24/17 at 11:31 am to rintintin
quote:
Find one with a decent sign up bonus and good point categories and go from there.
Any recommendations?
Posted on 7/24/17 at 11:43 am to VermilionTiger
quote:
Any recommendations?
Discover card, it has the best cash back rewards in the beginning.
After your first year you get dollar for dollar match on all the cash back you've earned.
This post was edited on 7/24/17 at 11:57 am
Posted on 7/24/17 at 11:46 am to LittleAce
quote:
Discover card, it has the best cash back rewards in the beginning
Posted on 7/25/17 at 12:26 pm to GenesChin
Finally got accepted for the Chase Ink business card, 80k points here I come 
Posted on 7/25/17 at 12:33 pm to rintintin
quote:
Finally got accepted for the Chase Ink business card, 80k points here I come
If I ever run out of chase points, I'm going to be getting this for the wife + me
Posted on 7/25/17 at 12:43 pm to GenesChin
My plan is to form an LLC this year to place some investments with that will count towards "revenue." That way I won't feel guilty and to open up all issuers. I don't think Chase is giving us any more biz cards at $0 revenue .
The LLC(s) will hopefully be used for other things as well as I move forward, so I'm not doing it just for credit cards.
The LLC(s) will hopefully be used for other things as well as I move forward, so I'm not doing it just for credit cards.
Posted on 7/25/17 at 7:57 pm to Teddy Ruxpin
It's my first business CC. Been needing one actually, but couldn't have come at a better time. Gonna use that 80k for my trip to Vietnam in Feb.
It took a little extra effort though, I had to call and see what the hold up was then they finally approved it over the phone.
It took a little extra effort though, I had to call and see what the hold up was then they finally approved it over the phone.
This post was edited on 7/25/17 at 7:57 pm
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