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#31 parKer

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Posted 14 March 2013 - 12:17 AM

How do you churn credit bonuses if you make one charge per six months on most of them? Making one gigantic purchase on them every 6 months?

Also, I'm surprised no one has flagged you as a liability for having that many cards open all at once. Maybe you got in before they had to start caring about that stuff again?



It doesn't seem like you understand what credit card churning is. Churning is all about the sign-up bonuses. It's not about what card gives you the most rewards for your money. In the past, cards used to limit sign-up bonuses to once per cardholder per lifetime. Now, cards are offering sign-up bonuses in full (meaning they forget about your first sign-up bonus and don't pro-rate your bonus) every few years. No more once in a lifetime stuff.

So whether he spends $1 or $1000 every 6 months doesn't matter. He just has to prevent the card from going dormant by making a charge every so often. The catch with churning is you have to pick the right cards and you must meet the minimum purchasing requirement that are of the "spend X dollars in Y amount of time to get Z bonus points" type.

If done correctly, you are able to net hundreds of thousands of points without ever getting on a plane. However, I am surprised at his "stats." A LOT lower than what I'm used to seeing from churners as well as frequent flyers.


Ooooh discover had it for a quarter?! WOWOWEEEEEWA!

And your 6% blue cash preferred is a annual fee card that only gives you 6% on the first $6000 of purchases.

To say 3% is "pointless" shows what a smug blowhard you are. The guy is asking about his FIRST credit card. He could do a lot worse than the amazon rewards visa.

We're just trying to help this dude figure out his first card, not playing biggest card penis, okay?

Thanks for playing. :roll:



If you compare him to the average credit card churner, he has a significantly smaller card penis, presumably because he effed up his credit at 19. So, his compensatory mechanism kicks in and compels him to post his average credit card limits on a gamer forum. Not only is that sad, it's tactless.
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#32 Confucius

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Posted 14 March 2013 - 12:24 AM

what is the point of keeping cards open once you've received the sign up bonus? (and kept it around sufficiently long.) Just to pad the length of credit stats?

I have a credit card that I've had forever. Like 17 years. Wouldn't keeping that one open be sufficient? If I were to start churning (and I wouldn't really, just curious), wouldn't I be able to ditch the 2 and 3 year old cards?

Lately, I've decided to get one of every type of credit card just to take advantage of the deals each one has. I loved the amex sync deals over the holidays. I figure I could get 1 of discover, chase, citibank, amex, capital one just to take advantage of whoever has the best deal at the moment. I might be missing a few obvious ones. I have everything already but the capital one I listed.

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#33 Calipso

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Posted 14 March 2013 - 12:43 AM

It doesn't seem like you understand what credit card churning is. Churning is all about the sign-up bonuses. It's not about what card gives you the most rewards for your money. In the past, cards used to limit sign-up bonuses to once per cardholder per lifetime. Now, cards are offering sign-up bonuses in full (meaning they forget about your first sign-up bonus and don't pro-rate your bonus) every few years. No more once in a lifetime stuff.

So whether he spends $1 or $1000 every 6 months doesn't matter. He just has to prevent the card from going dormant by making a charge every so often. The catch with churning is you have to pick the right cards and you must meet the minimum purchasing requirement that are of the "spend X dollars in Y amount of time to get Z bonus points" type.

If done correctly, you are able to net hundreds of thousands of points without ever getting on a plane. However, I am surprised at his "stats." A LOT lower than what I'm used to seeing from churners as well as frequent flyers.


I keep my oldest cards open for the reason you stated.

My numbers are low also because I haven't paid for a flight in two years. I go to Vegas three or four times a year and my points pay for my g/f and I to fly out there. I also have close to 80,000 points on Hilton HHonors. I don't hoard points, I just use em as I get em. I also churn based on avaliblity.

I just used almost all my jetblue points on our Vegas flights in June/July 2012, Nov 2012. I used old Southwest Awards on the last superbowl trip (2013) to Vegas. I have 33 available credits on Airtran with two free business class upgrades that I'll be using in the next few weeks.


If you compare him to the average credit card churner, he has a significantly smaller card penis, presumably because he effed up his credit at 19. So, his compensatory mechanism kicks in and compels him to post his average credit card limits on a gamer forum. Not only is that sad, it's tactless.


My income is around $30,000 per year. Having triple your income in available credit isn't exactly bad.

I'm posting my limits and my cards because it shows some validity in my statements. What exactly do you have for flights available?

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#34 Josh1billion

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Posted 14 March 2013 - 12:44 AM

If you have a PS3, grab the PlayStation card. Make a single purchase of any amount, and you'll receive a $50 PSN code and a year of PS+. Sweet deal. Plus 10% back on anything you spend on the PSN Store, 3% on fast food, and 1% elsewhere. I've racked up probably another $50 or so in the past ten months by putting all of my bills and everything on it.

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#35 Calipso

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Posted 14 March 2013 - 12:46 AM

what is the point of keeping cards open once you've received the sign up bonus? (and kept it around sufficiently long.) Just to pad the length of credit stats?

I have a credit card that I've had forever. Like 17 years. Wouldn't keeping that one open be sufficient? If I were to start churning (and I wouldn't really, just curious), wouldn't I be able to ditch the 2 and 3 year old cards?

Lately, I've decided to get one of every type of credit card just to take advantage of the deals each one has. I loved the amex sync deals over the holidays. I figure I could get 1 of discover, chase, citibank, amex, capital one just to take advantage of whoever has the best deal at the moment. I might be missing a few obvious ones. I have everything already but the capital one I listed.


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#36 parKer

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Posted 14 March 2013 - 01:14 AM

what is the point of keeping cards open once you've received the sign up bonus? (and kept it around sufficiently long.) Just to pad the length of credit stats?

I have a credit card that I've had forever. Like 17 years. Wouldn't keeping that one open be sufficient? If I were to start churning (and I wouldn't really, just curious), wouldn't I be able to ditch the 2 and 3 year old cards?

Lately, I've decided to get one of every type of credit card just to take advantage of the deals each one has. I loved the amex sync deals over the holidays. I figure I could get 1 of discover, chase, citibank, amex, capital one just to take advantage of whoever has the best deal at the moment. I might be missing a few obvious ones. I have everything already but the capital one I listed.



Edit: Regarding closing accounts, totally forgot, but this will describe credit utilization ratio better than I can.
http://www.myfico.co...-and-score.aspx


I've seen people do it different ways. Some people will keep a card if they like the perks enough and if it's a card where a bonus is given again (I want to say there was a high-annual fee AmEx card that did that), but most will close it and restart later. The people over at a travel forum that I frequent have made churning into an art.

When looking at the cards, you have to pay attention to the issuing bank. Each bank will only give you so much credit and churners take advantage of that numbers game. For example, they will do an app-o-rama, applying for a Chase Southwest, Citibank American Airlines, and a third airlines card that isn't issued by Chase or Citibank, all at the same time. Look at Calipso's list. He has several cards issued by the same bank and his credit limit totals per bank are about the same range. I'm guessing he did several app-o-ramas at different times.

Sorry to keep referring to you, Calipso lol. And, I was only slamming you for posting your actual amounts, as it's like discussing your salary with co-workers, socially inappropriate. But, I now see your point at needing data to prove your point. Also, kudos that you've dug your credit rating out of the hole. It was probably not easy and required diligence and self-control.


/shrug



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#37 dohdough

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Posted 14 March 2013 - 01:48 AM

Edit: Regarding closing accounts, totally forgot, but this will describe credit utilization ratio better than I can.
http://www.myfico.co...-and-score.aspx

This is exactly why you shouldn't close your cards with at least a little forethought into utilization ratios and the need for long term financing in the immediate future.

I've seen people do it different ways. Some people will keep a card if they like the perks enough and if it's a card where a bonus is given again (I want to say there was a high-annual fee AmEx card that did that), but most will close it and restart later. The people over at a travel forum that I frequent have made churning into an art.

When looking at the cards, you have to pay attention to the issuing bank. Each bank will only give you so much credit and churners take advantage of that numbers game. For example, they will do an app-o-rama, applying for a Chase Southwest, Citibank American Airlines, and a third airlines card that isn't issued by Chase or Citibank, all at the same time. Look at Calipso's list. He has several cards issued by the same bank and his credit limit totals per bank are about the same range. I'm guessing he did several app-o-ramas at different times.

Sorry to keep referring to you, Calipso lol. And, I was only slamming you for posting your actual amounts, as it's like discussing your salary with co-workers, socially inappropriate. But, I now see your point at needing data to prove your point. Also, kudos that you've dug your credit rating out of the hole. It was probably not easy and required diligence and self-control.

Actually, this is a myth that was perpetuated by capital and management as a way to pay their workers less and fight unionization/collective bargaining. There's really no harm in knowing how much people make in their jobs or how else would people know how much to negotiate for their wages?;)

Back on topic. I wrecked my credit when I was like 18 too and neglected it for years. Made a mistake when cleaning it up which hurt my score and went with a credit union with a super low limit($300) just to build history. Now, I have a Discover card that increases my limit every 6 months and I must've racked up at least $1000 cashback bonus over the past 5 years and paid maybe $50 in interest because I usually pay off the balance every month. When I was shopping Amazon a lot, free one day shipping and 5% back was the bee's knees.
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#38 Confucius

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Posted 14 March 2013 - 01:55 AM

Edit: Regarding closing accounts, totally forgot, but this will describe credit utilization ratio better than I can.
http://www.myfico.co...-and-score.aspx


Yeah but if you don't carry a balance, it doesn't matter right?

I mean I charge a couple grand every month so I'm sure my balance when the credit companies pull my record isn't $0, which I believe is a good thing. But if I'm not really concerned about my ratio, it shouldn't matter.

My oldest card (the 17 yo one) gives me basically no rewards. I just keep it around because it's old and I know that's good.

I'm just saying if I have a 2-3 year old card, what's the harm in canceling it if it doesn't offer any rewards. Or that I've used up the sign-up reward.

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#39 kodave

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Posted 14 March 2013 - 02:39 AM

It doesn't seem like you understand what credit card churning is. Churning is all about the sign-up bonuses. It's not about what card gives you the most rewards for your money. In the past, cards used to limit sign-up bonuses to once per cardholder per lifetime. Now, cards are offering sign-up bonuses in full (meaning they forget about your first sign-up bonus and don't pro-rate your bonus) every few years. No more once in a lifetime stuff.


Ah okay, thanks for clearing that I up. I thought he was in it for the "earned" rewards rather than the sign-up bonuses. I didn't know signing up for so many multiple cards like that is even a thing, and again, I'm surprised they let people get away with it. For example, he has triple his income in credit (and not even a high income to begin with) and he had bad credit history in the past - I'm shocked none of the companies see that as a red flag. With that high of a credit limit and with that many cards he could do some real damage if he wanted to. But I'm not in the credit industry so obviously I don't know what their standards are.


#40 dmaul1114

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Posted 14 March 2013 - 02:51 AM

I always just shake my head at people who do crazy things to get money--be it credit card churning, flipping games etc.

If people had put half as much effort into education/job training/their career they'd make a decent income and not have to resort to such crap to afford games, plane tickets etc.

#41 parKer

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Posted 14 March 2013 - 03:03 AM

Actually, this is a myth that was perpetuated by capital and management as a way to pay their workers less and fight unionization/collective bargaining. There's really no harm in knowing how much people make in their jobs or how else would people know how much to negotiate for their wages?;)



Haha, yeah I know where you're coming from, but I'm talking more about how topics like that among strangers can be a touchy subject, where there's a fine line between information sharing and bragging.


Yeah but if you don't carry a balance, it doesn't matter right?

I mean I charge a couple grand every month so I'm sure my balance when the credit companies pull my record isn't $0, which I believe is a good thing. But if I'm not really concerned about my ratio, it shouldn't matter.

My oldest card (the 17 yo one) gives me basically no rewards. I just keep it around because it's old and I know that's good.

I'm just saying if I have a 2-3 year old card, what's the harm in canceling it if it doesn't offer any rewards. Or that I've used up the sign-up reward.



But, you should be concerned about your utilization ratio though as it can affect your FICO?

If you don't like that particular card because of the lack of rewards, you could go to the issuing bank's website and see if there is a rewards card that you do like better. Then, call the issuer and see if they will upgrade you to that new card without resubmitting an application and without running a credit check again.

As far as harm is concerned, you'd really have to look at your cards' ratios and decide from there. Lol that's why I haven't been answering your question - it's because it's one of those "it depends" answers and I am not a professional in the field. Sorry if I gave that impression; I just really came back here to explain the churning, which looks weird now that I've been typing that word so much.


Ah okay, thanks for clearing that I up. I thought he was in it for the "earned" rewards rather than the sign-up bonuses. I didn't know signing up for so many multiple cards like that is even a thing, and again, I'm surprised they let people get away with it. For example, he has triple his income in credit (and not even a high income to begin with) and he had bad credit history in the past - I'm shocked none of the companies see that as a red flag. With that high of a credit limit and with that many cards he could do some real damage if he wanted to. But I'm not in the credit industry so obviously I don't know what their standards are.



I'm not in that field so I can't comment on that either.

But, I don't do any churning myself. Too much work and I don't have the need to do so. I earn enough mileage points on my own. I just learned about the practice from being on that travel forum for years. It's interesting to see how many hoops people will jump through and risks they will take for bonus miles.
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#42 Confucius

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Posted 14 March 2013 - 03:08 AM

I'm fairly well versed in fico scores. The reason I'm not concerned is because my ratio is 0% depending on when they pull the report.

I just didn't understand the justification for keeping old cards arounds by "churners."

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#43 parKer

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Posted 14 March 2013 - 03:21 AM

I'm fairly well versed in fico scores. The reason I'm not concerned is because my ratio is 0% depending on when they pull the report.

I just didn't understand the justification for keeping old cards arounds by "churners."



Ah, gotcha. It looked like you were asking about yourself. I have no clue. Like I said before, as far as the travel forum goes, some churners keep cards for the travel perks not related to the sign-up bonus. I'm not a churner, but I have a card that most of those people like and keep. The AmEx Gold Delta SkyMiles card. One free check-in for you and your travel companions, priority boarding, Sky Club access perks, etc.
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#44 parKer

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Posted 14 March 2013 - 10:50 AM

I always just shake my head at people who do crazy things to get money--be it credit card churning, flipping games etc.

If people had put half as much effort into education/job training/their career they'd make a decent income and not have to resort to such crap to afford games, plane tickets etc.



The funny thing is that a good majority of people who do the credit card churning are actually people who do make a decent income and those with advanced degrees, business people and high-income professionals. It isn't a small-time thing at all like game flipping or mediocre churning to get a few plane tickets or an upgrade to first class here and there. These people spend tens of thousands of dollars in a matter of a couple of months in order to get hundreds of thousands of miles (some try for the million mark) because of the minimum purchasing requirements for their selected cards. So, their credit limits and accompanying bonuses are way beyond those of people like Calipso. And, most importantly, they know how to do it without significantly affecting their FICO.

I'm not saying that churning is right, but it is intriguing and shouldn't be dismissed like a Slickdeals/games hoarder or classed at that level. You see it as crap and they would probably view our video game forum as crap. :lol:
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#45 dmaul1114

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Posted 14 March 2013 - 12:28 PM

Fair enough I guess. I'm just not a big fan of people wrapped up in money making schemes regardless of level. I'm just not one that's much concerned with money and consumeristic shit in general. I like my job, make a decent salary that supports the things I like to do while also building savings and beyond that I don't worry about things like bargain shopping (don't really come to cag for deals any more), having the best credit cards or making the most of investments (I just picked a decent mutual fund for my retirement accounts and otherwise pay no attention to it). Much less schemes to rack up reward points, frequent flyer miles etc.

But to each their own of course.

Edited by dmaul1114, 14 March 2013 - 01:58 PM.


#46 Confucius

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Posted 14 March 2013 - 01:00 PM

I'm not either.

I wouldn't mess with my credit score to do it but I'd like to know how they do it.

I'm happy just rotating my rewards cards. That's about as involved as I can get.

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#47 bordjon

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Posted 14 March 2013 - 01:37 PM

I visit the fatwallet finance forums every once in a blue moon. There's tons of folks there playing with credit cards. I remember 0% apr balance transfers (no fee) were a big deal a long time ago to get sign up bonuses and such. I think there are bt fees now though on most cards. It's a complex thing for sure. I've always been slightly curious but not really interested enough to do an app-o-rama or anything. It just doesn't seem that fun to me and I think for some it's just tons of fun. It's sort of a hobby for them. But for some, just the idea of making money is fun. I don't really get a thrill out of making money.
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#48 dmaul1114

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Posted 14 March 2013 - 02:30 PM

Yeah, I mean other than the problems inherent with rampant consumerism, there's nothing wrong with making a hobby out of finding deals or making money by flipping etc.

Just not my cup of tea as I hate shopping and dealing with money in general. I don't buy that much frivolous stuff these days as I work a lot and spend a lot of free time doing stuff with the girlfriend, running/exercising etc. that doesn't cost a lot of money outside of eating out, going to movies/concerts etc. Combine that with being fortunate to have a good job and make a decent salary and I just don't have to worry much about money as I'm able to save a good bit each month without paying much attention to expenses.

It's smart to be frugal and save money. But I don't think most people flipping games, abusing reward systems etc. are saving much money. They're just finding more ways to buy shit they don't really need or even want half the time. Case in point, all the CAGs who have huge backlogs of games they'll never play from buying shit just because it's a deal.

Edited by dmaul1114, 14 March 2013 - 02:41 PM.


#49 Calipso

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Posted 14 March 2013 - 07:45 PM

Edit: Regarding closing accounts, totally forgot, but this will describe credit utilization ratio better than I can.
http://www.myfico.co...-and-score.aspx


I've seen people do it different ways. Some people will keep a card if they like the perks enough and if it's a card where a bonus is given again (I want to say there was a high-annual fee AmEx card that did that), but most will close it and restart later. The people over at a travel forum that I frequent have made churning into an art.

When looking at the cards, you have to pay attention to the issuing bank. Each bank will only give you so much credit and churners take advantage of that numbers game. For example, they will do an app-o-rama, applying for a Chase Southwest, Citibank American Airlines, and a third airlines card that isn't issued by Chase or Citibank, all at the same time. Look at Calipso's list. He has several cards issued by the same bank and his credit limit totals per bank are about the same range. I'm guessing he did several app-o-ramas at different times.

Sorry to keep referring to you, Calipso lol. And, I was only slamming you for posting your actual amounts, as it's like discussing your salary with co-workers, socially inappropriate. But, I now see your point at needing data to prove your point. Also, kudos that you've dug your credit rating out of the hole. It was probably not easy and required diligence and self-control.





Hey, now. No hard feelings.


One negative on my Experian report had me held down for 7 years. Discover wouldn't touch me. Amex wouldn't touch me. Even if people don't get into the credit card churning game, it's so much more benefitial to have excellent credit than to have just one flaw on there.

I maxed out my credit at 18-21. Did stupid crap. Paid for it for years.

I only listed my limits/income as proof that credit is to be used as an asset. I know better than anyone.....credit does not equal actual money. I would much rather have $100k in cash in the bank than $1,000,000 in available credit.

I pull my credit report daily with USAA's daily puller and I use creditkarma just to see if anything changed on TU. After years of neglect and destoying my credit, I'm diligent about keeping it flawless. All bills are paid on time right after closing (if I didn't pay them in full) because I don't ever want to take a chance on a 30-day late appearing on my reports.

I stand by my original recommendation for the OP though. Chase Freedom. Easy card to get for beginners. $100 statement credit for spending $500. Good 5% bonus catagories. When someone pairs the Chase Sapphire Preferred with the Freedom....you can transfer your UR points over to airlines that Chase is partnered with.

The funny thing is that a good majority of people who do the credit card churning are actually people who do make a decent income and those with advanced degrees, business people and high-income professionals. It isn't a small-time thing at all like game flipping or mediocre churning to get a few plane tickets or an upgrade to first class here and there. These people spend tens of thousands of dollars in a matter of a couple of months in order to get hundreds of thousands of miles (some try for the million mark) because of the minimum purchasing requirements for their selected cards. So, their credit limits and accompanying bonuses are way beyond those of people like Calipso. And, most importantly, they know how to do it without significantly affecting their FICO.

I'm not saying that churning is right, but it is intriguing and shouldn't be dismissed like a Slickdeals/games hoarder or classed at that level. You see it as crap and they would probably view our video game forum as crap. :lol:


You've be quite surprised at what some people on Flyertalk, MyFico Forums and various boards do for work. They just like playing the system and flying for free and staying at good hotel rooms.

I have to laugh though. Someone trying to put down people who churn credit cards or flip games or stuff for extra profit.....yet he posts on a forum dedicated for being a cheap mofo to get vidya games.

Compared to the dedicated churners on Flyertalk, I am barely on the radar for churning. My points are laughable compared to the people who fly first class all over the world on bonuses and point promotions. I fly across the US for free and will continue to do so for several years.
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#50 sendme

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Posted 14 March 2013 - 09:50 PM

Try citi card. I know some people hate them, but I have never had an issue with them. I get reward points and no apr.
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#51 dmaul1114

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Posted 14 March 2013 - 10:47 PM

I already said that it's one thing to be frugal, and another to go crazy flipping shit or abusing credit card reward program loop holes.

I also said I rarely visit the deals forums here anymore, unlike when I first joined when I was a broke ass grad student and had to find super deals to buy any games. :D Now I don't game as much and I'm behind on games, so most games are cheap by the time I get around to buying them and playing them anyway. For the few things a year I want to play day 1 I have no problems just paying $60 on Amazon--and they often have gift with preorder deals as well. So I have little need to hunt down game deals these days.

I do still check the Bluray deals forum a little as I buy more movies than games--but I've cut that way back too as I seldom have time to watch more than a disc or two from Netflix a week. So my owned movie collection largely gathers dust. But for those I mainly just keep an eye on add scans and make sure I don't miss Best Buy upgrade and save promos since I still have some DVDs I want to swap out for the Bluray versions. That's another good example of deal hoarding stuff I'd never do too--I'd never go buy cheap DVDs to trade in for that promo. I just use it to ditch DVDs I want to upgrade, or shit I bought years ago that I shouldn't have bought as I've watched it once (or never) over several years.

#52 EnvyNeko

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Posted 15 March 2013 - 06:04 AM

I applied for the Amazon card so let's see how that goes.

I'm curious on one thing though. I looked into the Citi card and the Chase card and both of them mentioned needing a checking to use the rewards program. Is this correct or am I reading the wrong information?

Honestly, I have an account already with a local bank here and am planning on opening one with USAA to have as a permanent bank account so I would really like to avoid having to open another account.

Also, I'm a girl ^^;;

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#53 EnvyNeko

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Posted 17 March 2013 - 02:27 AM

So, got a response from Amazon. It was declined due to not having enough accounts opened long enough to establish a credit history.

Looks like I'm going to have to try elsewhere then. Do I need to have a checking account to use the one for Citi?

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#54 Antiques Roadshow

Antiques Roadshow

    Dick Tracy

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Posted 17 March 2013 - 02:30 AM

Don't get a credit card.

Pay cash for everything.

If you need money to pay for something, think of ways to make to money instead.

#55 Confucius

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    Corporate Shill

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Posted 17 March 2013 - 02:46 AM

So, got a response from Amazon. It was declined due to not having enough accounts opened long enough to establish a credit history.

Looks like I'm going to have to try elsewhere then. Do I need to have a checking account to use the one for Citi?


try this: http://www.creditcar...dit-history.php ---> this one looks promising. It's only $19 a year and the first year is free. In 2 years, unless you do something dumb like not pay on time, you should have enough of a credit history to get a free card. That $9.50 a year is better than getting rejected all the time.

Edited by Trakan, 20 March 2013 - 07:14 PM.

Ees7Y.jpg


I'm 100% shocked that books still exist in today's day and age. I thought they'd be out by now. They make up like 1% of today's entertainment and unless you're 60 or older, stray away from books and start emersing yourself with real entertainment.

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#56 EnvyNeko

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Posted 17 March 2013 - 05:00 AM

I know that getting a loan is a good way to get some credit without having a card as long as it's paid on time.

However, you mentioned paying bills adds to my credit and I'd have to say that's false.

I've had a cell phone for nearly 4 years now. When I first signed up it was through a program that was supposed to build credit when I paid my bills on time. I have NO credit. So explain how paying my bills has helped me build credit. I've had utilities and rent all paid on time and I still have nothing. I don't believe that paying bills on time has had an effect on my credit.

I understand what I'm getting into and I'm not just going to stupidly throw money around. If you don't have any good suggestions on a card that I could feasibly apply for then don't post in my thread.

I'm getting a card. Period. I just don't know from who or what kind yet.

Items up for trade/sale can be found here!  http://www.cheapassg...c-w-paypal-cyl/

 

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#57 Antiques Roadshow

Antiques Roadshow

    Dick Tracy

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Posted 17 March 2013 - 05:15 AM

I don't know about cell phones, but most utilities don't report because it costs them too much money to do so - some do, though.

If you're delinquent on utilities, it can harm your credit score if they report it to a collections agency.

In short: They typically only report negative information.

If you're (not you) are trying to attain a home, like whatshisnuts brought up, delinquency on your utilities can come in the way of that goal.

What I said wasn't specifically a message to you - It was a message to anyone who happens to read this thread in the same boat as you. No one else was speaking about the cons of credit, so I piped up. I don't think that really disrupted you from getting your credit card, did it?

Good luck in all of your future endeavors.

#58 EnvyNeko

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Posted 17 March 2013 - 05:55 AM

I'm sure everyone knows the cons of credit is getting into debt. That was never really brought into question. Sure, you can go your whole life without needing a credit card but what good does that do for the ones who do want a card and are in the same boat as me.

I think if anything others who read this thread need solutions. Your comment on paying off loans to build some credit has merit. If you wanted to state the cons of credit then starting off with "Never get a credit card" is not the way to do it.

Items up for trade/sale can be found here!  http://www.cheapassg...c-w-paypal-cyl/

 

I have figures from all sorts of fandoms including FInal Fantasy and Gundam!  Plus Skylanders from Spyro's Adventure and Giants (115 pieces in total!) 

 

 


#59 dmaul1114

dmaul1114

Posted 17 March 2013 - 03:18 PM

I'd never go without a credit card. Too much hassle dealing with fradulent charges if you're using a debit card as the money is out of your account until they investigate at most banks vs. just disputing charges on a credit card. Especially since i shop on line so much and have gotten fradulent charges a handful of times over the years from sites getting hacked.

Add in the rewards which are free money and its a no brainier as long as you're responsible enough to treat it like cash and not charge more than you can pay off in full each month so you never pay interest.

#60 EnvyNeko

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Posted 17 March 2013 - 04:14 PM

I talked to a representative yesterday on it and the only one they suggested was the secured credit card. It has an annual fee and I'd have to deposit money into it as my credit limit (deposit 200 for 200 in credit) Which I don't get back until the card is closed.

As much as I'd like a card I don't think that one is the right one for me. I'm going to check with USAA or my bank and see if maybe we can work something out. Otherwise I'm going to get a loan and pay that off to at least have something.

I tried for a Citi card and got the same response as Amazon. I figured it would be that, but thought I'd try anyway. I wish I could apply for a student card but since I'm no longer in school that's not an option.

I almost wish I had gotten a card when I was 18. It probably would've been easier than now -_____-

I listened to my parents who always told me never to get a credit card and look where I am now. I have no credit, so I can't buy a house or a new car. And forget about getting a job in my field when employers look at credit scores too!

I'll be talking to USAA tomorrow. Hopefully I can get somewhere with them since I have an account on their site for years now.

Is there anything I need to know about credit limits? If I could get a card that had a $50 or $100 limit (that would be low tier right?) would that be fine to start out? I should still verify on any fees associated with those limits correct?

Items up for trade/sale can be found here!  http://www.cheapassg...c-w-paypal-cyl/

 

I have figures from all sorts of fandoms including FInal Fantasy and Gundam!  Plus Skylanders from Spyro's Adventure and Giants (115 pieces in total!)