[CollinsE90]

Originally Posted by Blake

well for business, amex is just about the gold standard. if i owned and operated my own business, i would charge everything on amex that i would pay cash for.

He does, but doesnt do what he COULD do with it(just buys all his stuff for his business with it) and uses the flyer miles for traveling. His friend tried to buy a car with his and the dealer wouldnt accept it because of how much fee's they had to dish out. He just wanted the rewards lol.

[Sara]

Originally Posted by Freakazoid

that's the level in which AMEX is absolute shit, all 3 of my points above applies to any of the amex 'blue' level stuff.

One of my friends has that and says shes loves it. Hmmm.. Guess I wont be looking into that one.

[Blake]

sara, try to qualify for a chase sapphire card. i don't have one myself, but i've heard nothing but good things about it from people that do. if you like or want to travel, pick your favorite airline and get one of their cards, too. find the best intro offer and get lots of miles. my citibank AA card got me 75,000 intro miles and i charge big things on it. it's given me enough miles for 2 roundtrip first class tickets anywhere, although i tend to travel on revenue tickets for the elite qualifying miles.

[persian54]

don't get the BMW card

It's a waste really; no real rewards at all.

I personally have 12 Credit cards.

5 Visa, 5 MC, 2 Amex.

Yeah I know it's too much.. but then again I use each and everyone of them (not every month, more so every other month or every 3 months)

I personally love AMEX... until they decided to cut credit limits... even for those who have never had a late payment or anything; bastards.

I don't see why you would say Amex is awful.. they're my favorite

They send me a card within 1-2 business days if it's misplaced and don't question me on unauthorized charges.
My Visa has usually wanted me to fill out a crap load of forms, takes about a week to get a card, and won't take the unauthorized charge off my account until all the forms are processed

Debit cards are a waste... the money is taken out of your account instantly, rewards usually suck, and it doesn't help your credit

What I purchase today with my CC, I don't have to pay it for almost 2 months (with 0 interest charged, with 0 penalty. You have about 1 month for your statement to close, and a 20 day grace period to pay)

Doing this, I am able to gain interest at my bank for keeping the money in my account along with gaining interesting back from my cards (or other rewards)

Using my Citi Dividend, I get 1% cash back, and I think 5% at some locations (it changes per quarter, sometimes restaurants, sometimes elsewhere)

So add that to the the % I get from keeping money in my MM account, I get a little $ for making things easier (swiping a credit card is easier than writing a check or paying cash).

For the avg person, 2-3 cards is enough and you should use them.

But don't rely solely on your credit cards to develop a credit history...

When getting a large loan (be it car or mortgage), they look at your income.

a little less than 2 years, I didn't qualify for my 335i finance (60k)

So when we got my dad's car, we financed it under my name (high 8%..) for 28k... and after a year we paid it off
I'm confident if it wasn't for that 28k loan, I wouldn't have been able to sign both the Z4 and the M3 in solely in my name.

Your new 335i sara... is it in your name? or are you a co-signer?
Either or, it'll extremely help you out; just don't be late on any payments.

I was too lazy to read the whole thread so sorry for any repost info etc

[Freakazoid]

Originally Posted by Sara504

One of my friends has that and says shes loves it. Hmmm.. Guess I wont be looking into that one.

i loved 'em too. had regular amex blue cashback. I shit you not I was a customer for either 2 or 3 years, paid off the balance in full every month (or very close to it), never late, never over.
One day pulled it out, didn't work. said hmmm called them and they told me my account was closed. Got something in the mail a week later telling me my account was closed.

Never really got much out of them after hours and hours on the phone other than they thought I was too much of a risk. At that point I said fuck my credit history, because I now had a card that was closed by the credit card company request and not by mine (this looks horrible on a credit report) and kinda fucked myself for 5 years with that stupid decision

[Sara]

Originally Posted by Blake

sara, amex isn't for you. just get a couple really good visa/mc cards and call it a day.

I have both of those already. Day called

[Freakazoid]

Originally Posted by Blake

sara, try to qualify for a chase sapphire card. i don't have one myself, but i've heard nothing but good things about it from people that do. if you like or want to travel, pick your favorite airline and get one of their cards, too. find the best intro offer and get lots of miles. my citibank AA card got me 75,000 intro miles and i charge big things on it. it's given me enough miles for 2 roundtrip first class tickets anywhere, although i tend to travel on revenue tickets for the elite qualifying miles.

I've been liking chase, have chase rewards, and their rewards program is almost as good as discover card, and it's visa backed.

[Sara]

Originally Posted by Freakazoid

i loved 'em too. had regular amex blue cashback. I shit you not I was a customer for either 2 or 3 years, paid off the balance in full every month (or very close to it), never late, never over.
One day pulled it out, didn't work. said hmmm called them and they told me my account was closed. Got something in the mail a week later telling me my account was closed.

Never really got much out of them after hours and hours on the phone other than they thought I was too much of a risk. At that point I said fuck my credit history, because I now had a card that was closed by the credit card company request and not by mine (this looks horrible on a credit report) and kinda fucked myself for 5 years with that stupid decision

Did they close it due to inactivity? Cause I know my companys cc will do that to our customers. It pisses them off. I try to find something to buy every so often just so they dont close my account since according to this thread thats the card thats anchoring my score.

[Freakazoid]

Originally Posted by persian54

I personally love AMEX... until they decided to cut credit limits... even for those who have never had a late payment or anything; bastards.

I don't see why you would say Amex is awful.. they're my favorite

lol I forgot about that, that's point 5 of why I hate amex. You're right, before they completely randomly killed my card, they cut my credit line in half. mother fuckers I hated them.

and if you care persian, refer to my previous posts on why I hate amex

[Blake]

Originally Posted by Sara504

I have both of those already. Day called

what kind of rates do they have? odds are if you opened them before obama's credit reform act, they're probably higher than bird pussy compared to today's offers. if they don't have good rewards, might be worth shopping new cards. no point in having worthless cards.

[Sara]

Originally Posted by persian54

don't get the BMW card

It's a waste really; no real rewards at all.

I personally have 12 Credit cards.

5 Visa, 5 MC, 2 Amex.

Yeah I know it's too much.. but then again I use each and everyone of them (not every month, more so every other month or every 3 months)

I personally love AMEX... until they decided to cut credit limits... even for those who have never had a late payment or anything; bastards.

I don't see why you would say Amex is awful.. they're my favorite

They send me a card within 1-2 business days if it's misplaced and don't question me on unauthorized charges.
My Visa has usually wanted me to fill out a crap load of forms, takes about a week to get a card, and won't take the unauthorized charge off my account until all the forms are processed

Debit cards are a waste... the money is taken out of your account instantly, rewards usually suck, and it doesn't help your credit

What I purchase today with my CC, I don't have to pay it for almost 2 months (with 0 interest charged, with 0 penalty. You have about 1 month for your statement to close, and a 20 day grace period to pay)

Doing this, I am able to gain interest at my bank for keeping the money in my account along with gaining interesting back from my cards (or other rewards)

Using my Citi Dividend, I get 1% cash back, and I think 5% at some locations (it changes per quarter, sometimes restaurants, sometimes elsewhere)

So add that to the the % I get from keeping money in my MM account, I get a little $ for making things easier (swiping a credit card is easier than writing a check or paying cash).

For the avg person, 2-3 cards is enough and you should use them.

But don't rely solely on your credit cards to develop a credit history...

When getting a large loan (be it car or mortgage), they look at your income.

a little less than 2 years, I didn't qualify for my 335i finance (60k)

So when we got my dad's car, we financed it under my name (high 8%..) for 28k... and after a year we paid it off
I'm confident if it wasn't for that 28k loan, I wouldn't have been able to sign both the Z4 and the M3 in solely in my name.

Your new 335i sara... is it in your name? or are you a co-signer?
Either or, it'll extremely help you out; just don't be late on any payments.

I was too lazy to read the whole thread so sorry for any repost info etc

12 cards?! wow. The 335is is in my name.

[Freakazoid]

Originally Posted by Sara504

Did they close it due to inactivity? Cause I know my companys cc will do that to our customers. It pisses them off. I try to find something to buy every so often just so they dont close my account since according to this thread thats the card thats anchoring my score.

it wasn't my most active card, but it was being used. honestly no more than 10-20% of my line any given month at the absolute max.

Refer to my just now posted previous post too, I forgot about that I used to use the card even more, but then they cut my credit line and half and I couldn't buy anything with it, so I scaled back and only got like gas and stuff.

[Freakazoid]

Originally Posted by Blake

what kind of rates do they have? odds are if you opened them before obama's credit reform act, they're probably higher than bird pussy compared to today's offers. if they don't have good rewards, might be worth shopping new cards. no point in having worthless cards.

agreed with blake on this too. If the credit cards are newish, cut your losses and get one with good rewards.

say it like this, if you blow 200k a year, but you use a card with 1% cash back, you get back 2k cash, tax free at the end of the year. quite worth it in my opinion....

[Sara]

Originally Posted by Blake

what kind of rates do they have? odds are if you opened them before obama's credit reform act, they're probably higher than bird pussy compared to today's offers. if they don't have good rewards, might be worth shopping new cards. no point in having worthless cards.

One has a butt raping high APR, but it doesnt matter to me because I dont charge what I cant pay. Like if Im buying gas, I'll swipe that card to use to get the points then once I get home I'll pay it right off. It was before Obama was pressy.

[Freakazoid]

Originally Posted by Sara504

One has a butt raping high APR, but it doesnt matter to me because I dont charge what I cant pay. Like if Im buying gas, I'll swipe that card to use to get the points then once I get home I'll come home and pay it right off. It was before Obama was pressy.

yep I honestly have no idea what my APRs are, probably not good, but i don't give a damn either, I have no interest charges

[Blake]

Originally Posted by Sara504

One has a butt raping high APR, but it doesnt matter to me because I dont charge what I cant pay. Like if Im buying gas, I'll swipe that card to use to get the points then once I get home I'll come home and pay it right off. It was before Obama was pressy.

then cancel it and get something better. no point in having some high interest credit card you never use.

[Feyd]

Originally Posted by persian54

What I purchase today with my CC, I don't have to pay it for almost 2 months (with 0 interest charged, with 0 penalty. You have about 1 month for your statement to close, and a 20 day grace period to pay)

LOL... I miss California sometimes.

[Sara]

Originally Posted by Blake

then cancel it and get something better. no point in having some high interest credit card you never use.

No no, I do use it. I just dont let it acquire interest on me. I have let it before in the past. But not today.

[Freakazoid]

Originally Posted by Blake

then cancel it and get something better. no point in having some high interest credit card you never use.

i lost you here blake. This is what I do, (and my parents do as well). The card is used, but immediately paid off...thus no interest charges. Why should it be cancelled?

[Blake]

Originally Posted by Sara504

No no, I do use it. I just dont let it acquire interest on me. I have let it before in the past. But not today.

so? 0 balance card does nothing for you, especially if you don't use it. might as well cancel it and get something better.

[Sara]

Originally Posted by Blake

so? 0 balance card does nothing for you, especially if you don't use it. might as well cancel it and get something better.

Wait, how are you implying that Im not using it. I just said I use it to buy gas

[Blake]

Originally Posted by Freakazoid

i lost you here blake. This is what I do, (and my parents do as well). The card is used, but immediately paid off...thus no interest charges. Why should it be cancelled?

i just don't see the point in carrying a high interest card that you don't/want to use. especially after the CC reform act. cancel card, get card with great intro offer, profit.