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Hi everyone,

I'm going to be doing another mini AOR and would like some suggestions on cards I should look at.

The last one I did is coming to a close and I will have the balance on the remaining cards paid off in the next 2-3 months prior to interest kicking in.

Results from previous AOR:

12-21 interest free cycles
money saved invested in stocks/bonds
~$500 in sign up bonuses
~$1500 total return from stock/bond investment to date

I'm looking to do round 2. Not too worried about credit as I refinanced my condo last year, so I don't foresee needing any loans any time soon.

3-4 cards is what I'm shooting for, with the following:

maximum interest free cycles (no less than 12, but shooting for at least 15)
cash sign on bonuses (spend X by Y date for $Z Cash Back)
no annual fees
no interested in miles or fringe benefits, I don't travel much

Suggestions?

EDIT:

For clarification, the cards I now have are:

3 chase freedom
1 discover silver? (no special name on the card)
1 costco AMEX
3 citi simplicity, dividend platinum select, forward
1 local bank card

Final report:

Capital One Cash Rewards - denied
Discover Amazon - denied
BoA Cash Rewards - approved 5K
Chase Slate - approved 4.5K (and consolidated older cards - except oldest - for a total 15k CL at 0%/$0 BT)
AMEX Blue Everyday Cash - approved 5K

Experian credit score: 745

Member Summary
Most Recent Posts
NnnniiiCE!!!! Glad worked out well. Hope you're happy

vagrants (Apr. 30, 2013 @ 5:47p) |

Very happy, that's another 9k that I can invest for at least a year and if these offers continue I'll just keep revolvin... (more)

Muscle (Apr. 30, 2013 @ 5:51p) |

What's a normal amount of time for a balance transfer to go through? It's been almost a week and it still says 'pending'... (more)

Muscle (May. 07, 2013 @ 12:01p) |

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I think these two are still available, just got both earlier this year.
Chase Ink
Barclays NFL

It would be helpful if you listed what you already had.

Discover It would fulfill your 0% desires - 14 months. $75 back through Amazon if you apply through their portal.

I got these two recently: no annual fees, $100 bonus after $500 spend (each), 3% BT fees, 0% interest for 12 months

https://www.bankofamerica.com/credit-cards/products/cash-back-cr...

http://www.capitalone.com/credit-cards/cash-rewards/

If you actually want to use them after earning the bonuses, they're not bad cards to carry.
Capital One gives a flat 1.5% CashBack and has no foreign transaction fees.
BoA gives 3% on gas, 2% on groceries, 1% on everything else, +10% bonus on all CashBack transferred directly into a BoA checking account.

mactv said:   It would be helpful if you listed what you already had.

Discover It would fulfill your 0% desires - 14 months. $75 back through Amazon if you apply through their portal.


Here you go:

3 chase freedom cards
1 discover card
3 Citi Cards
1 costco AMEX
1 local bank card

Not sure if I could get any more bonuses from chase. Last time I applied for multiple freedom cards they didn't give me the bonus on all of them, just 1.

When I did the AOR last I got denied the CapOne card, but I can try again.

Credit score was in the 740s at the time of AOR.

Muscle said:   mactv said:   It would be helpful if you listed what you already had.

Discover It would fulfill your 0% desires - 14 months. $75 back through Amazon if you apply through their portal.


Here you go:

3 chase freedom cards
1 discover card
3 Citi Cards
1 costco AMEX
1 local bank card

Not sure if I could get any more bonuses from chase. Last time I applied for multiple freedom cards they didn't give me the bonus on all of them, just 1.

When I did the AOR last I got denied the CapOne card, but I can try again.

Credit score was in the 740s at the time of AOR.


you need to be more specific about what you have.
If one of those 3 chase cards is the Chase Slate, then it would be pointless for us to recommend it again.

Based on your interest in balance transfers and sign-up bonuses (and your lack of any Barclays cards to date), you might consider US Airways Mastercard with 35k miles after first purchase and no annual fee first year, link.

A couple of significant caveats are the bonus is in miles so if you don't travel you'd have to liquidate them for cash through a 3rd party, and I don't believe there are any juicy balance transfer offers immediately at sign-up. What I like about this card, though, is that once you've had it a few months they seem to routinely offer BTs with 1% fee for 0% APR over terms greater than 1 year (min I've seen has been 14 months), and these offers seem to keep coming every few months (so far, for me at least).

Again, since you're only looking to pick up a few cards there may be better ways for you to consume a credit pull, but given your interest in sign-up bonuses and BTs this one is worth considering. I have not had mine a year, yet, so I don't know about the prospects of getting them to waive subsequent annual fees.

mactv said:   you need to be more specific about what you have.
If one of those 3 chase cards is the Chase Slate, then it would be pointless for us to recommend it again.


I mentioned they are 3 chase freedom cards.

Muscle said:   mactv said:   you need to be more specific about what you have.
If one of those 3 chase cards is the Chase Slate, then it would be pointless for us to recommend it again.


I mentioned they are 3 chase freedom cards.


and 3 Citi Cards and 1 discover card.

citi simplicity, platinum select, forward
discover silver? (doesn't have a title)

also to clarify, you said "no fees" do you mean no BT Fee? Or are you more flexible in that you can make purchases and then want to float the balance?

There aren't many no BT fee cards out there.

By fees I mean no annual fee.

The 3% BT on most cards doesn't make it worthwhile to transfer balances to me.

ok, here are some suggestions.

AMEX blue cash - apply through CreditCards.com click "offers matched to you on the top left". It's the only app I know of that offers $150 signup bonus after $500 spend. 0% interest for 15 months
capone venture card - standard offer is 10,000 points ($100) after 1,000 spend. 0% interest until May 2014
or capone cash rewards - $100 after $500 spend, also no interest til May 2014

Try for Discover IT - apply through info in this thread for $75 Amazon.com card, 0% interest for 14 months
Discover doesn't always give out 2 cards, so YMMV on this.

Citi Diamond Preferred - no bonus, 0% interest for 18 months
Chase Slate - no bonus, 0% interest for 15 months
BOA cash Rewards - $100 bonus after $500 spend. 0% interest for 12 cycles

Barclay arrival card - $400 after $100 spend - http://www.fatwallet.com/forums/finance/1265825/ - 0% interest for 12 billing cycles. Does have an $89 annual fee after year one.

Thanks, will add these to the list. Any others? Going to apply today or tomorrow I think.

imbatman said:   ok, here are some suggestions.

AMEX blue cash - apply through CreditCards.com click "offers matched to you on the top left". It's the only app I know of that offers $150 signup bonus after $500 spend. 0% interest for 15 months
capone venture card - standard offer is 10,000 points ($100) after 1,000 spend. 0% interest until May 2014
or capone cash rewards - $100 after $500 spend, also no interest til May 2014

Try for Discover IT - apply through info in this thread for $75 Amazon.com card, 0% interest for 14 months
Discover doesn't always give out 2 cards, so YMMV on this.

Citi Diamond Preferred - no bonus, 0% interest for 18 months
Chase Slate - no bonus, 0% interest for 15 months
BOA cash Rewards - $100 bonus after $500 spend. 0% interest for 12 cycles

Barclay arrival card - $400 after $100 spend - http://www.fatwallet.com/forums/finance/1265825/ - 0% interest for 12 billing cycles. Does have an $89 annual fee after year one.
I looked into the Barclays Arrival card too -- I'm pretty sure it can only be applied to travel purchases, which is why I skipped it. Someone correct me if I'm wrong.

The way I read the Arrival thread (from what I remember from yesterday), it sounded like you could use the points for statement credit on non-travel purchases, but the value is cut to .5 cpp, so $200 bonus instead of $400. Imbatman or others may know otherwise, though.

Arrival card can be redeemed at 1:1 for cash. 40,000 pts = 400.
You get 10% if redeemed for travel. So if you redeem all 40,000 pts for $400 airfare you'll get 4,000 points back for future use.

The card that lets you get up to 2x as much for travel redemption is us bank flex perks. 20,000 gets you $200 or up to $400 airfare. Just redeemed 20kpts for $370.

imbatman said:   Arrival card can be redeemed at 1:1 for cash. 40,000 pts = 400.
You get 10% if redeemed for travel. So if you redeem all 40,000 pts for $400 airfare you'll get 4,000 points back for future use.

The card that lets you get up to 2x as much for travel redemption is us bank flex perks. 20,000 gets you $200 or up to $400 airfare. Just redeemed 20kpts for $370.

I don't have the card so I have no idea who's right here, but others in the Arrival thread were claiming 2 miles per cent cash redemption rate (non-travel redemption). Like this guy: http://www.fatwallet.com/forums/finance/1265825/m17667661/#m17667661

Ur right. .5 cpp for CashBack. 2.2 cpp for travel.
I was mistaken when I read it. The way to get 2.2 cpp is when redeeming for statement credit for travel purchases.

Barclays sure does lead the field in convoluted rewards systems.

Quick question on the Chase Slate card. It says on the app page https://applynow.chase.com/FlexAppWeb/renderApp.do?SPID=DYT9&CEL...

'Balance Transfers

$0 Intro fee on transfers made within 60 days of account opening. After that: Either $5 or 3% of the amount of each transfer, whichever is greater.'

So if I apply and get that card I can basically max it out with my current balance from my other card(s) and use that money to further invest instead of paying off the balance, correct?

I've never actually done a balance transfer so I don't know how easy/difficult it is and if there are any hidden fees that could come up.

correct.
there are two sticky threads that talk about how 0 fee Balance transfers work.
So long as you get it done in the first 60 days, you will not have any fees.

1=

imbatman said:   correct.
there are two sticky threads that talk about how 0 fee Balance transfers work.
So long as you get it done in the first 60 days, you will not have any fees.


I must be retarded, but which threads/posts explain HOW it works? I looked at all the stickies (which cc should I get/best balance transfer cards) but they just have a list of cards. Anything I should know specifically before I apply for it?

Best balance transfer cards and SIS comes back with apporama. Both have tons of info on balance transfers.
Both of them have posts about chase slate card.

I applied, here's the update:

Capital One - denied (again, tried last year as well, they just don't like me for some reason)
Discover - denied, probably because I already have a card with them (and it has a ~5k balance on it)
BOA - awaiting decision
Chase Slate - approved (yes!! 0% BT incoming)
AMEX Blue Everyday - approved

Don't know the CLs yet.

On a side note, I got a letter from Citi saying I'm eligible for a credit increase on one of my cards. I'm going to sockdrawer it, but should I get the increase anyway since it'll reduce my overall load ratio?

Muscle said:   I applied, here's the update:
On a side note, I got a letter from Citi saying I'm eligible for a credit increase on one of my cards. I'm going to sockdrawer it, but should I get the increase anyway since it'll reduce my overall load ratio?


You might as well - you never know when you might need it.

BTW, you were at 740 for your last AOR, what was your credit score this time?

That is weird regarding Capital One - which one did you try for?

Got another 2k CL increase on my citi card, too bad the promo APR is running out in a couple months, but I'll take it anyway.

The cap card: Capital One Cash Rewards Visa

Not sure what my credit score is right now, since I haven't paid for it this year. I only know what it was last time because I was doing a refi and it got pulled.

Quick question/update:

Got a $4500 CL on the Chase Slate and going to do the BT as soon as the card arrives. I have more than $4500 I can transfer, so should I max out the card or only transfer a certain amount to stay below a specific utilization %?

If your applications are done for the moment, you don't need to be that concerned with utilization.

I wouldn't want to max to the last dollar on the credit line, leave 1%, so 4455 is what I would do.

Muscle said:   Quick question/update:

Got a $4500 CL on the Chase Slate and going to do the BT as soon as the card arrives. I have more than $4500 I can transfer, so should I max out the card or only transfer a certain amount to stay below a specific utilization %?




Chase won't let you max it out anyways. They want a safety margin in case they need to tack on fees. "...as a portion of the available credit is kept for fee, interest or any other charges if applicable. This prevents your account from exceeding the credit limit."

Muscle said:   Got another 2k CL increase on my citi card, too bad the promo APR is running out in a couple months, but I'll take it anyway.

The cap card: Capital One Cash Rewards Visa

Not sure what my credit score is right now, since I haven't paid for it this year. I only know what it was last time because I was doing a refi and it got pulled.


Credit Karma will give you Transunion information on a weekly basis, and Credit Sesame will give you Experian information on a monthly basis. Both are free, Credit Sesame can be a bit annoying with trying to upsell you to credit monitoring, while Credit Karma doesn't really bug you with that kind of thing at all (they basically make their money from people asking them to suggest cards they think you can get based on your credit score and you clicking through to the application on their site)

Thanks, just got letters from CapOne and Discover about why they denied, some combination of revolving accounts, length of accounts, high utilization, high debt:income, too many inquiries, etc.

They did give me some scores though:

Experian: 716
FICO: 742

AMEX BlueEveryday has 5k CL.

Muscle said:   some combination of revolving accounts, length of accounts, high utilization, high debt:income, too many inquiries, etc.

They did give me some scores though:

Experian: 716
FICO: 742


Is your AOR done? If not, what are your AAoA, utilizations (per card and per your entire CL), inquiries and debt income ratio? I don't know what FICO: 742 is, but you still might be able to get a couple more CC.

My AOR is 'done' in the sense that I don't know what else to apply for. I'd LOVE to get another Visa/MC with 0% APR (and a bonus would be a bonus, but not required) because right now by only 0% card is going to be the AMEX, which not every place accepts (and I'm near maxing the Chase card with the BT). I'm just not sure what other card(s) to apply for.

What's AAoA?

As for utilizations, I'm using about 3500/7000 on a Citi card and 4800/7500 on my Discover card (though that's about to go down to 0 once I BT and pay the remainder). None of my other cards have balances.

AAoA = Average Age of Accounts. How many inqs do you have? 6 across the 3 CRAs? Is your total CL like $90k? (you have 11 CCs...assumed $8k CL/CC). Do you make close to $90k/yr a lot more, a lot less, more, less, a lot more or a lot less? Although prime card options seem limited now, there might be some left yet. What's FICO: 742? You get scores from EQ and/or EX and/or TU and each has a score.

totals from equifax report:


total accounts: 11

balance: 102k (includes mortgage)

available: 43k

CL: 147k

Debt to credit ratio: 69%

accounts with a balance: 5


----------

average account age: 3 years + a few months

7 inquires in last 2 years

---

I make under 50/year.

---

The only score I have available to me then is the 716 from experian.

...well...I'm sorry, I don't think I can help. You still might be able to get store cards w/ VISA/MC/Discover. Kroger's 3-2-1 MC (Barclay), Target VISA (TD Bank), WalMart Discover, HomeDepot (Citi), Lowe's AMEX, etc. Honestly, I would be in a garden mode for a while...if I'm gonna go for one more, I would go with WalMart one since it'll give you free TU08 FICO score (yeah, you can utilize creditkarma for TU, but their score isn't FICO...even then...who uses TU08...I know...but FICO Trifecta isn't a bad thing to have) if you opt-in for online statement.

Do you really need 3x freedoms? If not, consolidate 1x Freedom & Slate...so that the Slate has more CL if they let you.

Call CapOne executive office and recon for a sub-prime one (Platinum)...they may not waive the AF though...

Good luck

Thanks, you've helped enough. I'm going to call Chase and see if I can consolidate any of them for a higher CL so I can load it up.

Also, my BoA card just came with a 5k CL so my AOR is complete as I now have an interest-free non-AMEX card.

Final report:

Capital One Cash Rewards - denied
Discover Amazon - denied
BoA Cash Rewards - approved 5K
Chase Slate - approved 4.5K
AMEX Blue Everyday Cash - approved 5K

Experian credit score: 745

Thanks for the help everyone, and cheers to another year of investing!

Skipping 5 Messages...
What's a normal amount of time for a balance transfer to go through? It's been almost a week and it still says 'pending'.



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