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Old 01-25-2019, 10:07 PM
 
24,606 posts, read 31,782,204 times
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Quote:
Originally Posted by lostsoul359 View Post
My credit score is greater than his and I have nowhere near the number of accounts he has. Maybe 10, including store accounts.
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Old 01-26-2019, 04:29 AM
 
Location: Cebu, Philippines
3,071 posts, read 1,119,833 times
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I know a guy who hangs around gas stations and offers to pump your gas for cash and then goes in and pays with his card to get the points. He redeemed his points on his GM card for a new Geo Metro.
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Old 01-26-2019, 09:02 AM
 
18,029 posts, read 12,731,262 times
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Quote:
Originally Posted by cebuan View Post
I know a guy who hangs around gas stations and offers to pump your gas for cash and then goes in and pays with his card to get the points. He redeemed his points on his GM card for a new Geo Metro.
Thatís much more work and risk than I want for 1-5 cents per dollar spent
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Old 01-26-2019, 12:15 PM
 
529 posts, read 430,627 times
Reputation: 1390
Quote:
Originally Posted by lostsoul359 View Post
I have about 30 credit cards, almost 500k in credit limit between all of them.

I am an immigrant, 0 credit score at beginning and after 10 months of being in the US I was able to get my credit score from non existant to 740.

I have been in the US for about 3 years now, my credit score is 780-790s (it oscillates a bit)

I have gathered close to 1.9 million miles total
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Old 01-26-2019, 01:44 PM
 
349 posts, read 288,131 times
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Quote:
Originally Posted by Ripper3785 View Post
In that case, you would be getting 150% vs 125% using the portal.
I think your math is off. CSR is only 50% more points if redeemed on their travel portal.
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Old 01-26-2019, 01:51 PM
 
2,158 posts, read 505,856 times
Reputation: 2398
I'd rather have 4 cards with $50k limits than 20 cards with 10k limits. It's called gardening when you just work on what you have and stop opening new accounts.

Unless a card can be used with several merchants (i.e. NOT a store card at 29.99%) it's not worth having as another line item on my credit report. Just takes up space for something that doesn't really add value.

Even "prime credit" at 15.99% APR is not the best deal unless you PIF each month. I'd be hesitant to carry ANY balance month to month unless there was no better option.

Gone are the fixed rate cards at 8% unless you are either in an exclusive credit union (Navy FCU) or somehow grandfathered in.

The best rate I have is from Carolinas Telco FCU at 11% fixed rate but the limit is a very low 4 figures.
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Old 01-26-2019, 02:14 PM
 
18,029 posts, read 12,731,262 times
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Quote:
Originally Posted by usnftcret View Post
I think your math is off. CSR is only 50% more points if redeemed on their travel portal.
The csp is 1.25 cpp and the CSR is 1.5 cpp when redeemed through the portal
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Old 01-26-2019, 05:01 PM
 
596 posts, read 536,371 times
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Quote:
Originally Posted by ddm2k View Post
This is likely because's he's letting his statement close before paying anything at all. He could get the utilization reporting 0% and still run a lot of cash through them if he pays his current balance before the close date.

CC companies like multiple payments per month, combined with PIF. I received a 10k initial limit on a Chase Sapphire Reserve, and within 4 months (and running $20k through it) received a CLI to 19k.

Who told you this? Multiple payments per month increases the risk of an adverse action by the credit card company on your account. I know Amex is the most strict when it comes to this but other cc companies have similar policies as well. Paying off multiple times a month between statement periods may indicate too much activity for your income which is used along with credit score to set the credit limit.
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Old 01-26-2019, 05:29 PM
 
Location: Honolulu, HI
5,370 posts, read 1,448,670 times
Reputation: 7659
Quote:
Originally Posted by lostsoul359 View Post
That article is 7 years old.

Quote:
Originally Posted by Lusitano_ View Post
I have about 30 credit cards, almost 500k in credit limit between all of them.

I am an immigrant, 0 credit score at beginning and after 10 months of being in the US I was able to get my credit score from non existant to 740.

I have been in the US for about 3 years now, my credit score is 780-790s (it oscillates a bit)

I have gathered close to 1.9 million miles total
Is this suppose to be a humble brag?

Congrats, you have the ability to get into a lot of debt fast at any moment. I'd rather keep a handful of elite exclusive cards than 30 largely mediocre ones, quality of quantity.

And unless your score is 800, 740 is hardly rare or bragworthy.
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Old 01-26-2019, 06:52 PM
 
2,158 posts, read 505,856 times
Reputation: 2398
Quote:
Originally Posted by john620 View Post
Who told you this? Multiple payments per month increases the risk of an adverse action by the credit card company on your account. I know Amex is the most strict when it comes to this but other cc companies have similar policies as well. Paying off multiple times a month between statement periods may indicate too much activity for your income which is used along with credit score to set the credit limit.
This exact behavior got me a CLI with Chase in 4 months, when users in credit card forums swore it would take 6 months - 1 year before new cardholders got their first one.

Too much activity =/= high risk if you're literally filling up your card and paying it off several times per month.

I do know that AmEx periodically reviews your credit (ALL accounts you have) and may trigger a FR (Financial Review) if you're carrying too much debt month to month.

But repeating this PIF behavior several times monthly on several CC's (including AmEx with and without NPSL) in the first year to get further credit line increases has never had adverse affects for me.
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