I love credit cards so much!

[kmc8826]

Were you shut down?? Or are you referencing a recon call? If Recon, the shutdown thing is a whole different ballgame

Regarding shutdowns, I think these decisions are made based on a score so I do not believe a mortgage makes you 100% safe as there are numerous other factors going into the score. Now if your comment is more related to asking for special consideration to reinstate accounts that makes more sense. To get reinstated you basically have to convince them that their model was wrong and you truly intend to repay all your debts. That you aren't trying to open up a bunch of credit lines and run.


I think who your mortgage is with probably has very little bearing. Having one shows that you own property which inherently makes you less risky on the bust-out score.

I was not shut down. It was a call on whether or not approved to the CIP and then the IHG. I don't think a mortgage makes you 100% safe but it does seem to weigh fairly heavily into the decision. They are also of course looking at other factors like your overall credit score etc.

 

[SouthFayetteFan]

I was not shut down. It was a call on whether or not approved to the CIP and then the IHG. I don't think a mortgage makes you 100% safe but it does seem to weigh fairly heavily into the decision. They are also of course looking at other factors like your overall credit score etc.

This will sound somewhat crazy...but as it relates to Chase and Shutdowns credit score likely isn't a factor (or if anything having a good credit score shows you to be MORE of a bust-out risk.) Bust-Out fraudsters will typically build up good credit, I would imagine that most have excellent credit scores.

Somebody looking to commit bust-out fraud is going to build a good credit history, then draw down on their lines and then disappear. On average their oldest account is in excess of 8 years but their credit seeking behavior is much higher than the average consumer (i.e. they have a lot of new accounts and inquiries). Since they have a thick credit file and a large aggregate credit limit their utilization is typically low until right before the "bust-out" occurs.

Now, when they draw down on the lines their score would drop as utilization goes through the roof BUT the bank's goal is to identify the risk FAR before that happens.

For those truly interested in what this is all about - there's a 15 page document that details it here: https://www.experian.com/assets/decision-analytics/white-papers/bust-out-fraud-white-paper.pdf It's a very interesting read and upon review you will quickly realize why churners trigger a false-positive on the bust-out score.

 

[mickeyfino]

I know this has been discussed in the past but I can't seem to find the answer. Apologies!

Usually we charge everything on our MB's and I know all charges in the onsite hotel folio are coded as travel. But when you use your CSR (and not MB) in the parks at food and gift stores, is it coded as restaurant/travel?

Thanks!

 

[WardFam]

I am probably a high risk for Chase shutdown - High credit score, paid off our mortgage a couple of years ago, and starting to collect a few extra cards that I'm not using on a regular basis. If I want to continue to be able to sign up for Chase cards I shouldn't sign up for more than 2 personal (or chase business) cards every 6 months, lower my limits on the cards I do have and cancel cards I'm not using. Does that sound right? And I should focus on non-chase business cards if I want to sign up for more than the 2?

 

[Judique]

This will sound somewhat crazy...but as it relates to Chase and Shutdowns credit score likely isn't a factor (or if anything having a good credit score shows you to be MORE of a bust-out risk.) Bust-Out fraudsters will typically build up good credit, I would imagine that most have excellent credit scores.

Somebody looking to commit bust-out fraud is going to build a good credit history, then draw down on their lines and then disappear. On average their oldest account is in excess of 8 years but their credit seeking behavior is much higher than the average consumer (i.e. they have a lot of new accounts and inquiries). Since they have a thick credit file and a large aggregate credit limit their utilization is typically low until right before the "bust-out" occurs.

Now, when they draw down on the lines their score would drop as utilization goes through the roof BUT the bank's goal is to identify the risk FAR before that happens.

For those truly interested in what this is all about - there's a 15 page document that details it here: https://www.experian.com/assets/decision-analytics/white-papers/bust-out-fraud-white-paper.pdf It's a very interesting read and upon review you will quickly realize why churners trigger a false-positive on the bust-out score.

I also read most of it this afternoon. It was indeed very interesting.

 

[JKalai]

I know this has been discussed in the past but I can't seem to find the answer. Apologies!

Usually we charge everything on our MB's and I know all charges in the onsite hotel folio are coded as travel. But when you use your CSR (and not MB) in the parks at food and gift stores, is it coded as restaurant/travel?

Thanks!

Just checked my UR, and it coded 3x on restaurants including quick service and places with drinks only (pongu pongu specifically) but 1x in the gift shops.

 

[miztressuz]

As I was clicking around the news sites stumbled on this article on credit card rewards, how AI is already being started to predict (and guide) points spending:
https://www.msn.com/en-us/news/mone...our-points/ar-BBKPzUH?ocid=spartanntp&ffid=gz

This is the part I think is most telling:
"Also it's in the company's best interest to get the customer to redeem points as cheaply as possible, so marketing that encourages a customer to use their points in a particular way could be beneficial to the company as well."

And I kinda like how it's just offhanded towards the end That's really what banks are spending the AI money on, how to figure out the best way to market points to generate CC use to earn them while costing the bank as little as possible to redeem them. I'm sure in the next year or two you'll start seeing more promotions like 'redeem for Branson MO (instead of Tahiti) and we'll throw in bonus points/redemption rebates!' stuff like that but not as obvious (I would hope) so it'll take a little more research or planning to spot the real value. You guys are already into that, but the general populous probably doesn't spend the hours breaking down a trip to scheme the best deal like this population so hopefully it works on enough outsiders to keep the game going for the hardcore

AmEx has a head start and I can kinda see it working a little. Since hubby already had the bigger bank of MR we'd do points offers on his card then I would do on mine as a 'last resort' option (if he didn't get the offer or we could double dip). So when the Lowe's offer came out recently, I had the $10 stmt credit on both my cards but his was for 1000 MR instead... and only on the Green card, it never showed up on the BCE. I hopped on my cards and used both offers already, but even though it's roughly equivalent we haven't done his yet. I'm still stuck on cash, it's nicely easy to figure out and immediate. And I know we should do it on his card too but I've hesitated as we don't want to reward that kind of behavior

 

[SouthFayetteFan]

I am probably a high risk for Chase shutdown - High credit score, paid off our mortgage a couple of years ago, and starting to collect a few extra cards that I'm not using on a regular basis. If I want to continue to be able to sign up for Chase cards I shouldn't sign up for more than 2 personal (or chase business) cards every 6 months, lower my limits on the cards I do have and cancel cards I'm not using. Does that sound right? And I should focus on non-chase business cards if I want to sign up for more than the 2?

2 every 6 feels overly restrictive to me...but hmmmmm LOL. I’m not about to unequivocally give you advice otherwise.

 

[gottalovepluto]

Visa Savings Edge is still cranking out 10% back at Office Depot up to $5 per card for people who register Visa Business Cards on the site AND activate the offer. FYI it’s a hard $5 cap, my $52 purchase only got $5. CIP, CIC, old Ink cards, AUs, & our Costco biz cards qualified. It also accepted my Chase Biz Checking Debit Card but then I shredded it when I purged old debit cards today so I won’t have a solid DP on if they work until I get my replacement in a couple weeks. Total Life Fail for a bank churner. (I SM’d Chase for the replacement & they messaged me back about sending it within 5 mins- record! Admittedly it’s coming snail mail...)

 

[gottalovepluto]

I know this has been discussed in the past but I can't seem to find the answer. Apologies!

Usually we charge everything on our MB's and I know all charges in the onsite hotel folio are coded as travel. But when you use your CSR (and not MB) in the parks at food and gift stores, is it coded as restaurant/travel?

Thanks!

CSR will code all MB charges at 3x. In park only dining will get 3x, all else is 1x. At DL even the food carts only get 1x.

 

[GlamMistress]

All this talk of the IHG card is making me want it... It's FOMO or something. I had no desire for this card until the talk of the premier version and now everyone here is getting it/wants it. Ugh.

Looked at my card balances tonight and feeling bummed. We've been on a spending spree the past two months it seems. Or rather we've just had a ton of big bills plus we eat out a lot.

I am grateful to have the money to pay. But I don't like seeing those big balances on my accounts regardless! #TypeA

 

[kmc8826]

All this talk of the IHG card is making me want it... It's FOMO or something. I had no desire for this card until the talk of the premier version and now everyone here is getting it/wants it. Ugh.

Looked at my card balances tonight and feeling bummed. We've been on a spending spree the past two months it seems. Or rather we've just had a ton of big bills plus we eat out a lot.

I am grateful to have the money to pay. But I don't like seeing those big balances on my accounts regardless! #TypeA

I understand how you feel on all 3 counts! That has been my battle with spg biz. Not to encourage it but the current IHG does give 2 times rewards at restaurants.

 

[GlamMistress]

I understand how you feel on all 3 counts! That has been my battle with spg biz. Not to encourage it but the current IHG does give 2 times rewards at restaurants.

I know. But my Uber card is better for restaurants. I'm really going to stay strong and sit this one out... plus we've got the rumored Arrival Premier or whatever coming so I want to keep my powder dry for that. Le sigh.

 

[wdwcindy]

I was reviewing the CF categories and need to know more about using PayPal. Can someone please give me a cliff's notes version or point me to some info? Does it work like Apple Pay? Thanks again to the group for the fantastic guidance on how to play this game!

 

[Gwmw1210]

Hello, I have been hanging around the budget board for a long time but have never posted. I’m hoping someone here can give some insight on where we stand and what makes the most sense (cents) at this point.

3 people in my family
2 player mode
Atlanta is our Home airport
Over the next year to two; we plan to fly mainly domestic then towards the 2 year mark Hawaii.

Me: 9/16 Suntrust-Joint
9/16 PNC
2/17 Sapphire
7/17 BOA

I have an old-old CIPlus (2011), CICash (2011), CF (2011), Citi double & Div, Disc, AmEx Pref & Delta all between 1994-2010.

DH- 9/16 Suntrust-Joint
2/17 Sapphire- AU- removed AU this week
Other old cards- CIC (2012), Disc

Any thoughts? Thanks in advance

 

[SouthFayetteFan]

Hello, I have been hanging around the budget board for a long time but have never posted. I’m hoping someone here can give some insight on where we stand and what makes the most sense (cents) at this point.

3 people in my family
2 player mode
Atlanta is our Home airport
Over the next year to two; we plan to fly mainly domestic then towards the 2 year mark Hawaii.

Me: 9/16 Suntrust-Joint
9/16 PNC
2/17 Sapphire
7/17 BOA

I have an old-old CIPlus (2011), CICash (2011), CF (2011), Citi double & Div, Disc, AmEx Pref & Delta all between 1994-2010.

DH- 9/16 Suntrust-Joint
2/17 Sapphire- AU- removed AU this week
Other old cards- CIC (2012), Disc

Any thoughts? Thanks in advance

Hi - we love new posters on our awesome thread

So you are at 4/24 (I'm assuming you know something about the Chase 5/24 rule - if you don't, it basically is a rule for Chase cards that puts limitations on getting certain cards). Once you hit 5/24 you would be locked out of numerous Chase cards. Luckily you have 2 cards falling off in September. Right now I'd consider the CIP card (Chase Ink Preferred) which has an 80,000 UR (ultimate reward) bonus! It requires a $5,000 MSR (min. spend requirement) in 90 days. You OR your husband could get that card, hit the $5k...then refer the other spouse to the card. That would earn you the following:

• 80k from sign-on 1
• 5k+ from min spend
• 20k from referral 2
• 80k from sign-on 2
• 5k+ from min spend 2

That's 190,000 URs for your next $10,000 in spend. That's worth a min. of $1,900 but almost $2,400 toward travel thru your CIP...AND if you had your husband later get a CSR card (Chase Sapphire Reserve) those points would then be worth over $2,800! You have a ton of options available to you since your husband is only at 1/24.

Another thing you may want to consider is going after a Southwest Companion pass which can be done through getting 2 SW RR cards. The general advice is to try to earn that as early in the year as possible (i.e. maybe wait until early 2019) BUT you don't have to wait. The reason people do that is because once you earn it you have it for the rest of that year and all of the next year.

We have a private Reddit group you can join if you're interested - we share some tips there and also have the ability to support other DISers when applying for cards. If interested send me a PM

 

[WardFam]

Trying to combine my (newly PCd from my own CSR) Freedom UR points to my husbands CSR and I'm getting an error code. Chase says they can't verify we are in the same household, yet our addresses are the same. They said I can add him as an employee on my INK then transfer the points. They assured me that this wouldn't show up on his credit at all. I somehow think that's not true. What can I do? Thanks

 

[jhoannam]

Trying to combine my (newly PCd from my own CSR) Freedom UR points to my husbands CSR and I'm getting an error code. Chase says they can't verify we are in the same household, yet our addresses are the same. They said I can add him as an employee on my INK then transfer the points. They assured me that this wouldn't show up on his credit at all. I somehow think that's not true. What can I do? Thanks

I read somewhere to remove all the transfer cards and give it 24 hours before you relink the cards... does that make sense?

 

[Albort]

Hi - we love new posters on our awesome thread

So you are at 4/24 (I'm assuming you know something about the Chase 5/24 rule - if you don't, it basically is a rule for Chase cards that puts limitations on getting certain cards). Once you hit 5/24 you would be locked out of numerous Chase cards. Luckily you have 2 cards falling off in September. Right now I'd consider the CIP card (Chase Ink Preferred) which has an 80,000 UR (ultimate reward) bonus! It requires a $5,000 MSR (min. spend requirement) in 90 days. You OR your husband could get that card, hit the $5k...then refer the other spouse to the card. That would earn you the following:

• 80k from sign-on 1
• 5k+ from min spend
• 20k from referral 2
• 80k from sign-on 2
• 5k+ from min spend 2

That's 190,000 URs for your next $10,000 in spend. That's worth a min. of $1,900 but almost $2,400 toward travel thru your CIP...AND if you had your husband later get a CSR card (Chase Sapphire Reserve) those points would then be worth over $2,800! You have a ton of options available to you since your husband is only at 1/24.

Another thing you may want to consider is going after a Southwest Companion pass which can be done through getting 2 SW RR cards. The general advice is to try to earn that as early in the year as possible (i.e. maybe wait until early 2019) BUT you don't have to wait. The reason people do that is because once you earn it you have it for the rest of that year and all of the next year.

We have a private Reddit group you can join if you're interested - we share some tips there and also have the ability to support other DISers when applying for cards. If interested send me a PM

atlanta screams Delta Amex card though....

 

[WardFam]

I read somewhere to remove all the transfer cards and give it 24 hours before you relink the cards... does that make sense?

I will wait until tomorrow and try again! Thanks!!