I love credit cards so much! v2.0 (see first page for add'l details)

[Mopedmom1]

This is what my grey band turned into. I ordered it for just this purpose. DH wouldn't let me touch his grey band. Lol!

 

[snugglebug]

Do you all think it's safe to SM Chase and ask for CIP #2 to be expedited? My first one was opened two months ago.

I stupidly did SM to expedite either mine or P2's 2nd, no issues so far. As soon as I hit send on that SM I regretted it, but oh well.

 

[PolyRob]

This is what my grey band turned into. I ordered it for just this purpose. DH wouldn't let me touch his grey band. Lol!

 

[Mopedmom1]

View attachment 421844

My favorite is the rose gold one I made to match my ears! Can't seem to locate it right now.

 

[snugglebug]

Hilton Surpass. Any idea why this is "currently unavailable"? I wanted to get DH's PP set up before our trip.

 

[mamathompson]

Hilton Surpass. Any idea why this is "currently unavailable"? I wanted to get DH's PP set up before our trip.

View attachment 421849

This just happened to me over the weekend. Someone suggested I chat. It took just a few minutes and they had me (DH) enrolled.

 

[miztressuz]

I wonder if the 5% rolling version would be better saved for when your student has more disposable income. Discover gives double (10%) during the first year of a new card.

You can have 2 Discover cards, even duplicates - get one now and then get one later
(and so far they're pretty churnable I hear, so get one now, then get another... and another... and another later. )
Just keep the first open for credit age and then do what you want with the second, either keep it after the cash back match or could PC it to the Chrome version. Not sure if you can PC to Miles - it's not really miles so I'd think so but I'm not sure... I don't think too many churners PC a Discover card

 

[ten6mom]

I have a Capital One Visa that I will not be using any more. Am I correct in thinking that I can close it with no negative effects? I literally just got approved for CIP#2 today so I don't anticipate any more credit inquiries for another couple months at least.

Would keeping it open but lowering the CL have a similar effect to closing it outright? Is one action preferable over another? I have no plans to use Capital One ever again, if that matters.

 

[orangecuse]

@ten6mom unless its a new card with a puny CL the benefit is 2x fold in keeping it open

1. It helps your AAoA (average age of accounts)

2. It helps your overall credit utilization

There is really no benefit to closing or lowering the CL on the card since its not one you plan to churn and need to do either of those things.

 

[Mopedmom1]

You can have 2 Discover cards, even duplicates - get one now and then get one later
(and so far they're pretty churnable I hear, so get one now, then get another... and another... and another later. )
Just keep the first open for credit age and then do what you want with the second, either keep it after the cash back match or could PC it to the Chrome version. Not sure if you can PC to Miles - it's not really miles so I'd think so but I'm not sure... I don't think too many churners PC a Discover card

My Discover is my oldest card on my CR, dating back to.... 1990. I am terrified to apply for a second card for fear something would happen to the original.

 

[ten6mom]

@ten6mom unless its a new card with a puny CL the benefit is 2x fold in keeping it open

1. It helps your AAoA (average age of accounts)

2. It helps your overall credit utilization

There is really no benefit to closing or lowering the CL on the card since its not one you plan to churn and need to do either of those things.

Sorry, I should have provided more information.

The card is fairly new (just under a year old)
And,
the CL is perhaps 1/6 of my gross annual income.

Does either of those things make a difference?

 

[wendow]

My Discover is my oldest card n my CR, dating back to.... 1990. I am terrified to apply for a second card for fear something would happen to the original.

I got a Discover card in 1996, fresh out of college, but I closed it about 10 years ago cause I was dumb!!!! Didn't understand the importance of the age of the account

 

[afan]

My Discover is my oldest card on my CR, dating back to.... 1990. I am terrified to apply for a second card for fear something would happen to the original.

Mine's from 97 and my oldest so I feel that way as well. Especially since my 2nd oldest is less than 15 years old. So while that barclays aa card is worthless now since it takes 2 bucks to earn a mile, it doesn't have an AF and I'll keep it for that reason. And hopefully keeps me in good graces with them should I ever want another barclays card. I think I'd need to PC it back up to the red for it to be anything worthwhile anywhere including europe, I vaguely feel like they said something about fees or the chip or something. I just remember thinking as she went over everything that it's a bad card but at least I'll save 95 a year for something I'm getting nothing out of.

 

[miztressuz]

I have a Capital One Visa that I will not be using any more. Am I correct in thinking that I can close it with no negative effects? I literally just got approved for CIP#2 today so I don't anticipate any more credit inquiries for another couple months at least.

Would keeping it open but lowering the CL have a similar effect to closing it outright? Is one action preferable over another? I have no plans to use Capital One ever again, if that matters.

Does it have a fee? If it doesn't have a fee probably can't hurt to just leave it open. Your CIPs aren't reporting to your personal report so the CL available on the CapOne can help with your utilization ratio.

If it has a fee then you could try to PC it to something without a fee or just let it go if not. I'm not as familiar with CapOnes PC policies, except I don't think they prorate the AF, so you'd want to look up exactly when to cancel to avoid the fee if there's nothing to PC to.

 

[SouthFayetteFan]

Welcome @DMAGEE32 to DISchurners! I'd normally send this in a PM but you can't PM yet on the DIS (you need to have made 10 comments!)

You're approved and all set! Access the main page here.

You may find this thread: DISchurners - Walt Disney World Tips! to be pretty interesting if you're planning a Disney World trip!

This is a thread we have that highlights the major news events on the main thread: DISchurners - NEWS Thread! This can be especially helpful if you can't keep up with all the comments here on the DIS!

As a reminder most of the discussion does happen here on the boards. On r/DISchurners you can post your own support links and/or use others' support links here:

• Chase
• American Express
• Other/Misc

And of course there's other info there too including some of our best tips from the thread that you might want to explore! Welcome, thanks for joining!

 

[Mopedmom1]

Mine's from 97 and my oldest so I feel that way as well. Especially since my 2nd oldest is less than 15 years old. So while that barclays aa card is worthless now since it takes 2 bucks to earn a mile, it doesn't have an AF and I'll keep it for that reason. And hopefully keeps me in good graces with them should I ever want another barclays card. I think I'd need to PC it back up to the red for it to be anything worthwhile anywhere including europe, I vaguely feel like they said something about fees or the chip or something. I just remember thinking as she went over everything that it's a bad card but at least I'll save 95 a year for something I'm getting nothing out of.

This is my second oldest card. My first was from a financial institution that I worked for that went out of business due to the Savings & Loan scandal in the 80's. (Boy, am I dating myself here!)

 

[ten6mom]

Does it have a fee? If it doesn't have a fee probably can't hurt to just leave it open. Your CIPs aren't reporting to your personal report so the CL available on the CapOne can help with your utilization ratio.

If it has a fee then you could try to PC it to something without a fee or just let it go if not. I'm not as familiar with CapOnes PC policies, except I don't think they prorate the AF, so you'd want to look up exactly when to cancel to avoid the fee if there's nothing to PC to.

Oh, good question.

No, it does not have a fee; thank you.

OK. I am still a little confused on when to limit CLs and when to not since there is frequent chatter about it here.

If you add up the CLs on my personal cards, they're just over a third of my gross income.
If you add up the CLs on my business cards, they're over half of my gross income.

So I need to lower CLs on personal cards only when applying for other personal cards, or also between business cards if I am looking for a 2nd/3rd business card from the same issuer, or....?

 

[PolyRob]

Oh, good question.

No, it does not have a fee; thank you.

OK. I am still a little confused on when to limit CLs and when to not since there is frequent chatter about it here.

If you add up the CLs on my personal cards, they're just over a third of my gross income.
If you add up the CLs on my business cards, they're over half of my gross income.

So I need to lower CLs on personal cards only when applying for other personal cards, or also between business cards if I am looking for a 2nd/3rd business card from the same issuer, or....?

It really all depends on the card issuer.

The consensus is that Chase may get hesitant extending more credit if you are near 50% of your gross income with Chase. If you have 3 Chase personal cards and 2 Chase biz cards and are near 50% of your income when you combine all the limits, you should lower some Chase cards before applying for more Chase credit. I know you have 2 CIP, but say you only had 5 Citi biz cards. Chase would have no idea about these 5 cards because they aren't on your report or issued by Chase so those CLs would be irrelevant regarding gross income percentage when applying for a new Chase card.

Lowering the limit on a personal card will also temporarily lower your credit score because your overall utilization will decrease. Lowering biz card CLs that do not report (Chase, Citi, Amex, etc) will have no effect on score. You just want to be careful not to lower too aggressively because increasing CLs will result in another hard pull. I too have 2 CIPs and lowered the CL on both. My original now has a $5,000 CL and my 2nd has $1,000. I kept CIP#1 at $5,000 in the event I had to PC it or move biz credit around for a new Chase biz app.

 

[orangecuse]

@ten6mom so gross income doesn’t really matter for CLs or credit utilization. The only time gross income matters AFAIK is that Chase doesn’t like to extend you more than 50% of your gross income in CL. They don’t care if Amex and Cap1 and Citi are giving you $$$$ in CL, they only care what their risk is (ie what is Chase specifically extending you). The time to lower CLs is generally on Chase buisness cards (since they don’t report to personal credit and therefore don’t affect utilization) after you are finished with them, and Chase personal cards if you are getting close to that 50% line on Chase total CLs (business and personal). I’ve also seen some mention of lowering Citi AA limits if you aren’t just closing those after getting the bonus.

In general you want a lot of credit extended to you. If youhave 50k in total CLs and spend 5k on a CC you have a 10% utilization (goal). If you lowered things to have 20k in CLs and spent 5k (at statement close) now your utilization is much higher which really dings your credit score.

 

[ten6mom]

It really all depends on the card issuer.

The consensus is that Chase may get hesitant extending more credit if you are near 50% of your gross income with Chase. If you have 3 Chase personal cards and 2 Chase biz cards and are near 50% of your income when you combine all the limits, you should lower some Chase cards before applying for more Chase credit. I know you have 2 CIP, but say you only had 5 Citi biz cards. Chase would have no idea about these 5 cards because they aren't on your report or issued by Chase so those CLs would be irrelevant regarding gross income percentage when applying for a new Chase card.

Lowering the limit on a personal card will also temporarily lower your credit score because your overall utilization will decrease. Lowering biz card CLs that do not report (Chase, Citi, Amex, etc) will have no effect on score. You just want to be careful not to lower too aggressively because increasing CLs will result in another hard pull. I too have 2 CIPs and lowered the CL on both. My original now has a $5,000 CL and my 2nd has $1,000. I kept CIP#1 at $5,000 in the event I had to PC it or move biz credit around for a new Chase biz app.

@ten6mom so gross income doesn’t really matter for CLs or credit utilization. The only time gross income matters AFAIK is that Chase doesn’t like to extend you more than 50% of your gross income in CL. They don’t care if Amex and Cap1 and Citi are giving you $$$$ in CL, they only care what their risk is (ie what is Chase specifically extending you). The time to lower CLs is generally on Chase buisness cards (since they don’t report to personal credit and therefore don’t affect utilization) after you are finished with them, and Chase personal cards if you are getting close to that 50% line on Chase total CLs (business and personal). I’ve also seen some mention of lowering Citi AA limits if you aren’t just closing those after getting the bonus.

In general you want a lot of credit extended to you. If youhave 50k in total CLs and spend 5k on a CC you have a 10% utilization (goal). If you lowered things to have 20k in CLs and spent 5k (at statement close) now your utilization is much higher which really dings your credit score.

OK, very good. That makes sense. Thank you!

I am bookmarking both of these so that HOPEFULLY I don't have to ask again in the future!