Personal Credit Thread

[tifosi77]

Coool Whimp

[Dickie Dunn]

What sort of interest rates are on these cards?

My main chase account is 10% and Amazon Chase is a ridiculous 22% but I always pay the charges off before the interest kicks in.

Honestly awful, but I really don't carry any balances. Citi and Delta Amex are the only ones with balances due to 0% APR promo periods.

Capital One: 22.15%
Chase: 25.24%
Discover: 15.99%
Chase British Airways: 28.24%
Citi: 22.99%
Delta Amex: 29.99%

[iamjs]

Credit scores baffle me. We have a mortgage, one car payment (which is paid ahead and over the minimum fwiw), and one credit card. Our score has dropped because we've been using the one card for gas more often, which lowers the total available credit. Even though we pay it off every month. It's still excellent, and we're not in the market for any type of loan or mortgage anytime soon. I guess adding a credit card for the sake of adding credit ability would raise the scores, but man, I don't want to do that for the sake of raising credit.

And my wife's score is always 10-30 points higher than mine...and we've been married with nearly all joint accounts since 2003. She LOVES reminding me of that too

I was trying to see if I could crack 820 at one point. I was up to 815, closed a signature loan, and "tanked" my score into the 760s. Opened another card and it immediately went back up into the 780s. Opened another card, put minimal money on my Best Buy card, which bumped me into the 800s. Paid all of those off and I ended up dropping into the 780s again. Right now it's keeps jumping between 785 and 805.

I have a number of cards that I got for various promotions, and only one of them has an annual membership fee. I thought I had to wait for the first year to cash out since I needed $3k of usage in the first year to get something like two or three free nights at a Hyatt and a discount when I stayed in Nashville last year. Until I paid the initial membership fee and the second annual fee, how much was I really saving? Not a whole lot.

Prime Card. This is the one that I use the most because of the perks. It's paid off every month, although I may have to carry some balance after this most recent car purchase due to shipping a car cross-country. I usually rack up about $300 in points every year, which allows for some items that I normally wouldn't buy or for picking up a gift.
BMW Card. Got this when I signed up for my BMW Experience. I ended up saving money on registration, and they kept extending the 0% on the card. That 0% has run from 2021 and isn't set to expire for another few months.
Hyatt Card. **** this card. They kinda snuck me on the membership fees and I probably didn't save all that much. Once I figure out when I can redeem the rooms, it's gone.
Apple Card. I thought it was supposed to be 3% cashback on everything, but it's only 3% for Apple purchases and their approved merchants and 2% for everything else. Not all that great but the card itself is metallic, so it makes loud noises when you drop it. But it also doesn't tapscan (i know you can do it by phone, but that's not the point.)

[tifosi77]

So I have two dozen fraudulent charges for Facebook advertising on one of my AmEx cards over the last four days. All for relatively small amounts (between $0.04 and $50), totaling around $180. That's neat.

This card is linked to my Google Wallet, but not to any online vendors. I used the card once when I opened the account (to pay my monthly pool cleaning service), and the balance was paid in full the following bill. That was six months ago, and that was the only time I've ever used the card. AmEx is taking care of things on their end, but theses buys were not done against my Facebook/Meta account. So it shows no such activity (which means someone else is using the card on their advertising account), and I don't know how to report this to the merchant.

[MWB]

re: student loans

I'll put this here so it doesn't get buried in the **** show that is the Political thread.

If you are on an IDR plan or doing PSLF, Mohela just issued a blanket forbearance covering September thru December of this year, so retroactive to back before the loan payment restart. If you paid in October or November you can get it refunded. This forbearance period will count towards forgiveness (IDR/PSLF).

Effectively that means I will get credit for making a monthly payment from June 2020 to January 2024 without paying a dime. So 42 payments, or $18,800 in forgiveness.

Mohela just got smashed with millions in fines for mishandling the program and it's thought that this forbearance is a pause for them to get their **** together. Since they were integral to the meritless case that found it's way to SCOTUS all I can do is laugh and laugh and hope the Missouri-based **** show keeps on keeping on.

Did you get your refund yet? Mine just posted to my bank account yesterday for the two payments I made for October and November.

[dodint]

I checked yesterday and it wasn't there, but thanks.

Glad you got yours though!

[dodint]

Did you get your refund yet? Mine just posted to my bank account yesterday for the two payments I made for October and November.

Mine hit this morning.

Also happened to login to Mohela and saw that my payment is due on 1/19. Sad.

[MWB]

Haha, yeah, got that same notice.

[mac5155]

I'd been carrying a ~$5k balance on a 0% APR card fir about a year. Last month the intro rate expired so I paid it off. Credit score immediately drops 24 points lol.

[dodint]

Say you have a PSL that has $1 a day in interest. The servicer you have it through only allows you to make a principal-only payment on your payment date, meaning that the servicer has no mechanism for making a PoP other than having you pay on the day when the per diem interest hasn't accrued yet. Lame, I know.

For some reason my brain won't accept that it's best to just make extra payments during the month rather than waiting until the payment date. This is where I need help.

The regular payment date is the last day of the month. So if I make a $100 payment on the 10th, it will be $10 in interest and $90 to principal. But, when I do make the eventual full payment on the 31st the amount to principle will be higher than standard because the interest accrual for that month was effectively reset at $0 on the 10th (the payment on the 31st will have $21 in interest instead of $31).
So there really is no reason not to make the smaller payments through the month, correct?

I already pay my auto loans and a credit card every two weeks instead of monthly because over the life of the loan it does pay it down with slightly less interest, intellectually I know this. But for some reason I can't get over making an interest payment out of cycle for this one loan.

Tell me I'm dumb and to get over it.

[CBear3]

You're dumb and get over it.

[NTP66]

I received my last bonus on this Chase Sapphire Preferred card 4 years ago, so I downgraded the card to a generic Freedom card. Public offers on the CSP kinda suck right now, but my buddy is sending me his referral link so that I can at least hook him up with 15k free UR. This is the first card I've churned in years.

[NTP66]

****'s sake, how may credit cards do you have open?!

Less than you would think.

Capital One: 50k
Chase: 40k
Discover: 30k
Chase British Airways: 20k
Citi: 20k
Delta Amex: 10k
USAA: 10k

After that it's nonsense like Home Depot, Pottery Barn, and Crate and Barrel to make use of promo offers for large purchases. British Airways and Delta Amex will be getting closed because I don't feel like paying the annual fee. Most of them don't get used but really don't see a reason to close them.

Closed my Chase Freedom card today (the one I product changed from my CSP in order to get a new CSP). Chase transferred that credit line to my new CSP, which now has a line of $52.5k. Almost comical.

[iamjs]

Hyatt Card. **** this card. They kinda snuck me on the membership fees and I probably didn't save all that much. Once I figure out when I can redeem the rooms, it's gone.

Finally figured out how to redeem rooms on this one.

Doing a quick Buffalo/Toronto road trip in April, which also includes a visit to the old Maple Leaf Gardens for a public skate. Once I get back from that trip, this card is done.

[Dickie Dunn]

****'s sake, how may credit cards do you have open?!

Less than you would think.

Capital One: 50k
Chase: 40k
Discover: 30k
Chase British Airways: 20k
Citi: 20k
Delta Amex: 10k
USAA: 10k

After that it's nonsense like Home Depot, Pottery Barn, and Crate and Barrel to make use of promo offers for large purchases. British Airways and Delta Amex will be getting closed because I don't feel like paying the annual fee. Most of them don't get used but really don't see a reason to close them.

Closed my Chase Freedom card today (the one I product changed from my CSP in order to get a new CSP). Chase transferred that credit line to my new CSP, which now has a line of $52.5k. Almost comical.

You should buy yourself something large and nice.

[NTP66]

Source of the post You should buy yourself something large and nice.

Thought about upgrading the 2nd leg of our departing flights to first class for vacation, but AA wants $1880 for them. Each.

[faftorial]

You should buy yourself something large and nice.

Now he can get that new Acura.

[NTP66]

Just for laughs, I searched for used Type-S's. They're nearly $10k higher now than they were 6 months ago. Pure insanity.

[Shyster]

I have three credit cards:

Chase Amazon Prime Visa
Cabela's Capital One Mastercard
Amex Blue Cash Preferred

I pretty much only use the Amex (for gas and groceries) and the Amazon card (for just about everything else). My total limit across those three cards is $92,000.

[mac5155]

I've been debating on the Sam's club card for a while now. Our annual Sam's spend was around $3500 last year. Kind of insane if you ask me but 5% back of that plus 5% back on $6k in fuel would be a nice chunk.