The planets are currently aligned in such a manner that I've decided to go on an application spree. Credit score be dammed, the time is right for me to shop for the following products:
1. Auto and Homeowners and Rental Property Insurance 2. Mortgages 3. HELs/HELOCs 4. Online/offline Brokerages 5. Online/offline bank accounts 6. Credit cards 7. Moving money, via BTs, convenience checks, gift cards, paper bags, etc.
Along the lines of the Joe Debtor thread, I am open to suggestions from the FW community as to where to apply and what to do. Some deals I'm just going to get in for the bonus money (ie online bank deals), others will be to try to beat my current rates/premiums.
I'm open to all suggestions, but I'm fairly lazy, so if a suggestion requires too much work, I'm not going to do it. I'll keep this thread updated with the action I take so others may see what happens w/o having to first take the credit hits themselves...
UPDATE 1/15/04- 1. opened Penfed account and funded some high rate 5 year CDs 2. bought some Charter One Gift Cards to hit CC rewards tiers, before deal dies due to WSJ effect 3. applied for Sovereign Bank's HEL/HELOC special 4. Opened Imperial Capital Bank checking and savings accounts
UPDATE 1/22/04 Ok, I've completed much of my Application-o-Rama.
CREDIT CARDS I tried to only apply for cards that offer rewards, so that I'll have some use for them after any initial 0% promo/signup bonus. Also tried to get cards from a number of different issuers. I may have gotten a little carried away
1. Citi 5% automated app 2. Amex 25,000 point green 3. AMEX Business cash rebate card through Cardoffers.com - $40 app bonus 4. AMEX Blue Cash personal card through Cardoffers.com - $30 app bonus 5. $50 Barnes and Noble MBNA card 6. $30 Amazon Bank One Visa 7. Principal Bank cash rebate card 8. People's Bank 0% card 9. US Bank Cash Rewards Visa 10. State Farm Bank rewards card 11. Nordstrom Bank Visa 12. Farm Bureau Bank rewards card 13. Patelco Credit Union Cashback Mastercard 14. Huntington Bank (Chase) 0% for 15 months card 15. Wells Fargo Business Unsecured Card 16. Wells Fargo Business Secured Card
INSURANCE (auto and home) 1. Wawanesa 2. Amex/ Amex/Costco 3. GEICO 4. Amica 5. Chubb 6. Firemans Fund
still have some more shopping to do, such as checking account promos and brokerage promos to go....
UPDATE 2/4 with most credit decisions (on oage 3) UPDATE 2/22 with credit report info (see page 4)
Yes, Ive been holding off on many of the deals in this forum and will now app all at once for them....
The Palm is certainly one of my goals. AMEX 25k point Green AMEX 20k point gold $150 Citibank checking account Citibank 5% card (the non AT&T one) Maybe a couple of cards on cardoffers/ebate/netflip
chknjetski
New Member
posted: Jan. 15, 2004 @ 1:07p
SIS:
What are some of your goals for applying for more credit, other deals, etc.? I remember seeing in another thread that you have a total limit > $1M. What more would you need?
While the mortgage/HEL/HELOC/insurance shopping is being done primarily to reduce current rates/premiums, most of the CC apps would be to take advantage of signup bonuses, and then use the cards to consolidate credit limits, etc. Also to get some cards from different issuers (most of my old cards have now been consolidated into Citibank and Bank One/Chase) My credit report will already be taking a hit from the loan and insurance inquiries, so might as well throw a couple cc apps in there too
mrbean
Senior Member - 2K
posted: Jan. 15, 2004 @ 1:37p
SUCKISSTAPLES said:
<< Yes, Ive been holding off on many of the deals in this forum and will now app all at once for them....
The Palm is certainly one of my goals. AMEX 25k point Green AMEX 20k point gold $150 Citibank checking account Citibank 5% card (the non AT&T one) Maybe a couple of cards on cardoffers/ebate/netflip >>
I thought the AMEX 20k Gold deal ended last December. I've been wanting to open one but thought it was too late to do so. If I am mistaken please someone correct me.
You're not worried that the 5% might only apply to "grocery, gas, drugstore" purchases? It seems that the type of purchases that qualify for the 5% has not been clarified.
I actually called in today to apply for the card with the promo code 9069 (20K)ready. The rep. told me that I have a RSVP for free first year member and 5K but have no idea what the 20k was.???
Thanks.
Crazytree
Senior Member - 7K
posted: Jan. 15, 2004 @ 6:35p
are you going to buy a bunch of gear and then abscond to indonesia?
Amazon $30 visa they advertise on the homepage, it hasn't been worth the credit hit to me, but I actually buy lots of Amazon stuff so the 3 points/$ would have been nice.
orangetabby
Senior Member
posted: Jan. 15, 2004 @ 8:05p
Alcibiades said:
<< orangetabby said:
<< I actually called in today to apply for the card with the promo code 9069 (20K)ready. >>
The instructions clearly say to apply w/o talking about the code. >>
I screwed up then. Wasted 5000 points. Should have waited to see if somebody would answer me. I figured out how to order on the internet with 20k points and did it already. Otherwise, I would have 25k instead of 20k to use.
BTW, how do you guys plan to use the AMEX points. I want to get the $250 Dell certificate, but wonder if I can combine two of them together to buy a LCD. On the restriction info, it says the purchase has to be a system. Monitor is not a system, is it? Got on the phone with Dell, and the two stupid indian CSR are so rude. One transferred me to the origianl line. The other works like an answer machine and askes for my customer number again and again and would not say anything other than " Can I have a customer number?". Those CSRs are so bad. Maybe I don't want to buy from Dell anyway.
Also, for my online credit card applications, I have to wait for 14 days for an answer. Is it normal.
I am crazy today. I applied two credits today both the blue and green. I havn't applied for any credit card for 3 years except one in December for that killer 5% rebate card.
gemdream
Member
posted: Jan. 15, 2004 @ 8:36p
SiS - re: brokerage deals -
Ameritrade "Apex": $100 after 3 months if you average at least 10 trades/mo 25 free trades in first month.
<< SIS: What are your preferred airlines and hotels? >>
As you might guess, I prefer whichever hotels I can get for less than $30 on Priceline and whichever airline is the cheapest
I do like the free cookies at Doubletree
tabalard
Senior Member
posted: Jan. 16, 2004 @ 11:42p
I love Priceline. We had a one month vacation with all Priceline hotels. Cheapest $12/night, highest $33. Those were the days..bonus money and points for stays!
Still, I've accumulated points in a few hotel/airline programs (Hilton, Delta, NWA) and thought maybe you had some favs with bonuses for affiliated CC sign up that might entice you--since you're on a mission.
<< I love Priceline. We had a one month vacation with all Priceline hotels. Cheapest $12/night, highest $33. Those were the days..bonus money and points for stays!. >>
I think the best Priceline rates I got were $6 and $8 during the $20 Priceline/AMEX bonus money days! I stayed at that Doubletree and probably ate $8 worth of cookies each day!
Im generally against paying CC annual fees. I have a HHOnors Optima and Priority Club Visa
<< BTW, how do you guys plan to use the AMEX points. I want to get the $250 Dell certificate, but wonder if I can combine two of them together to buy a LCD. On the restriction info, it says the purchase has to be a system. Monitor is not a system, is it? Got on the phone with Dell, and the two stupid indian CSR are so rude. One transferred me to the origianl line. The other works like an answer machine and askes for my customer number again and again and would not say anything other than " Can I have a customer number?". Those CSRs are so bad. Maybe I don't want to buy from Dell anyway. >>
Then you may like Midwest Airlines, which is well known in the midwest for having fresh baked chocolate chip cookies on every flight.
orangetabby
Senior Member
posted: Jan. 18, 2004 @ 7:33p
squid3 said:
<< orangetabby said:
<< BTW, how do you guys plan to use the AMEX points. I want to get the $250 Dell certificate, but wonder if I can combine two of them together to buy a LCD. On the restriction info, it says the purchase has to be a system. Monitor is not a system, is it? Got on the phone with Dell, and the two stupid indian CSR are so rude. One transferred me to the origianl line. The other works like an answer machine and askes for my customer number again and again and would not say anything other than " Can I have a customer number?". Those CSRs are so bad. Maybe I don't want to buy from Dell anyway. >>
CREDIT CARDS I tried to only apply for cards that offer rewards, so that I'll have some use for them after any initial 0% promo/signup bonus. I may have gotten a little carried away
INSURANCE (auto and home) 1. Wawanesa 2. Amex/ Amex/Costco 3. GEICO 4. Amica 5. Chubb 6. Firemans Fund
still have some checking account promos and brokerage promos to go....
jinju
Addicted Member
posted: Jan. 22, 2004 @ 2:15p
Hey SIS,
With all those cards your credit report must look like some kind of "US Constitution" book, eh? How do you manage to keep track of all these cards, like how would you know if someone applies for a new Credit card under your name?
LilPadawan
Happy Member
posted: Jan. 22, 2004 @ 2:31p
jinju said:
<< Hey SIS,
With all those cards your credit report must look like some kind of "US Constitution" book, eh? How do you manage to keep track of all these cards, like how would you know if someone applies for a new Credit card under your name? >>
As someone with a lot of cc's myself, I'm sure it'll be manageable. The only time I get confused is when one card is bought by another institution. I had what I thought was a random Citibank account. Took be awhile to figure out it's my Home Depot Corporate Card that they had taken over.
Several years ago, I went on a similar spree with bank accounts and brokerage accounts (back when bonuses were as high as $100). The biggest PITA since has been dealing with a mountain of 1099-DIV, 1099-INT, 1099-MISC forms come tax time. Last year, I started consolidating. My SCH B entries took up just over a page...that was the last straw.
Its not that hard keeping track...I have one WP document listing all my cards, and since I dont receive statements if balances arent carried, theres not much additonal paperwork.
Since I'm not liable if opens credit in my name, thats not really a concern of mine.
ero2
Senior Member
posted: Jan. 22, 2004 @ 8:00p
Hey sis, do you happen to know the tiers on the AMEX Biz Cash rebate card, couldn't find them on the site anywhere.
dsmking
Senior Member - 1K
posted: Jan. 22, 2004 @ 8:19p
Sis, You may want to open Upromise account. Any kid in your family can use the money. With all the cards and charges, why not?. The advantage is get CC rewards, Ebates or whatever and upromise, keep the money in Ing till you pay CC balance. Dell, GM cars, groceries, Staples, Exxon etc., participate. Over a long period, it really amkes a difference.
pictel
Member
posted: Jan. 22, 2004 @ 8:43p
well it is rare to see the great SiS go shopping for the best offers.
though i am not in the stage to comment on the home/auto insurance
i liked the fact that you applied for the patelco cashback master card.
i have had it for about 9 months now and it has never let me down in terms of its interface online or its cashback potential. the only thing it lacks is the secondary benefits that come with a platinum card. i use it for everday purchases most of the time. might i suggest that you use their online bill pay if not already doing so.
micecali
Senior Member - 1K
posted: Jan. 22, 2004 @ 8:53p
SIS,
Can you tell me a bit about patelco cashback master card? All i know is that it's 1% cash back on purchases. Any 0% APR introduction rate?
thanks for the continued suggestions, keep them coming!
Upromise is something I will certainly look into.
I dont know much about the Patelco card except fot the fact that it has cashback and I will be eligible for their "relationship" program at their credit union. I was happy to see that patelco gave me a $30k credit limit...I'm fairly confident an actual PERSON reviewed my app instead of a computer program. They let you request your desired limit (of course I picked $50k, the highest)...I wonder if my limit was based on my savings balance with them (the credit limit was $5k more than my savings balance there).
Other issuers (such as US Bank) that informed me of the credit limit have been as low as $5k...again, perhaps bc I have no prior relationship with them.
Skipping 202 Messages...
Daniel01
Member
posted: Apr. 2, 2005 @ 4:43p
Plato said: I've been reading all of these app-o-rama threads and I'll be doing my own soon. But before I do, I've got a question I haven't seen addressed-- the reporting of the balance transfers as income.
Obviously it's not income and if audited they'll see that right away, but does this increase the odds of being audited? With all the suspicious activity reports for large transfers between bank accounts, will the tax people come calling asking where all the money came from?
Again, it's easy enough to show it's not income (except for the interest earned), but if this invites an audit, it seems more trouble than it's worth. Any thoughts? They don’t send a 1099 when you do a balance transfer. Your right if you get audited and they want to see your bank statements you may have to show that the money is from balance transfers and not income.
What sparks increased scrutiny is Cash transactions if you’re doing a BT either you will use a check or deposit from another bank not cash.
IMO it’s marginal that it would happen but it's good thinking.
Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.
Members of our community may attach files to a post in accordance with the User Agreement. FatWallet is not responsible for the content, accuracy, completeness or validity of any information contained in any attached file. Files have *not* been scanned for viruses. Be especially wary of Excel files which may contain malicious content.
