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Professor. That information is not correct. I have the Priceline card which earns me 2% on all charges and 5% on Priceline.com purchases. That card to new customers does not earn 2X. It only earns 1X on regular purchases. And it does not give 8..25% off Priceline purchases. (either card-my card or the new card. 5% off Priceline purchases. No annual fee. If they changed mine to 1X points I would not use it. You get 10% points back on redeemed points. That is a minor perk.

Rob

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I'm looking for the best Cash Back credit card with no limit.  I'm seeing the Quicksilver from Capitol One at 1.5% and Citi Double Cash card (1% on purchase & 1% when paid).  Are there others?  

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Lazy Mia (Did I get that right?) --

FIA (Bank of America) has a 2% CB Amex and a tiered 1.5% / 2% CB Visa. They have a promotional tie with Fidelity brokerage. There are a few ways of redeeming the points -- some (most?) go through a Fidelity account. Some use the points for travel.

Many CUs and smaller local banks use Elan cards. Many of those have 1.25% CB for no fee or 1.5% CB for an annual fee (not waived for the first year).

Barclays Arrival is another option. I don't use it and am not familiar... I think there's a way to get a little better than 2% when used for travel.

Of course there is the Amex Blue family -- tiered and category CB for gas, grocery, drug stores -- some with fees, some free.

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Izmeeh said:   I'm looking for the best Cash Back credit card with no limit.  I'm seeing the Quicksilver from Capitol One at 1.5% and Citi Double Cash card (1% on purchase & 1% when paid).  Are there others?  
  Right now the Discover Miles card is offering 1.5% back and matching the 1.5% 100% (effectively a 3%CB card) for the first year.

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Can anybody recommend some current signup bonus cards? I've received two offers in the mail in the past week (1 for me, 1 for wife) that are making me think its time for a sign-up bonus AOR.

I think these are both targeted, but not positive.
1) West Town Savings bank - $300 back after $2k spent. Plus 1.25% rewards and 12 month 0%.
2) AMEX Blue Cash Everyday - $250 back after $1k spent. Plus 3/2/1% rewards and 15 month 0%.

The AMEX offer is for my wife. I tried to see if I could get in on it too but looks like the general offer is only 100 back for 1k spent. Any other good CashBack offers going right now?

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I think I've about done them all as well. Time to cancel some more & circle back around in a year. Is a year good?

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renaud said:   Can anybody recommend some current signup bonus cards? I've received two offers in the mail in the past week (1 for me, 1 for wife) that are making me think its time for a sign-up bonus AOR.

I think these are both targeted, but not positive.
1) West Town Savings bank - $300 back after $2k spent. Plus 1.25% rewards and 12 month 0%.
2) AMEX Blue Cash Everyday - $250 back after $1k spent. Plus 3/2/1% rewards and 15 month 0%.

The AMEX offer is for my wife. I tried to see if I could get in on it too but looks like the general offer is only 100 back for 1k spent. Any other good CashBack offers going right now?

  Well, I didn't get any info here but I did decide to apply for both of these cards plus one more.  I added the Citi Thank You Premiere card that has 50,000 point bonus after $3k in spending.  I hit the min spend for the AMEX and West Town card right away and already had both of those bonuses post as statement credits.  Now going to spend the $3k for the Citi.  All in all I'll be at $1050 in bonuses, plus the AMEX and West Town balances will sit at 0% for the rest of the year.

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Just did 2k worth. I now have about 18 open CCs. I close near anniversary on most. 

40k venture capital one
50k Citi Premiere
50k Amex personal
60k Chase INk business.

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Is there a good travel card w/ no annual fee? I have the Barclay arrival plus & never used the bonus on it due to delay in travel plans. Now it still looks good enough to keep regardless. Unless I can cancel it & reopen in a whort period of time to reboot the bonus? Probably not on that right?

Also already have citi thank you preferred & Discover it.

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Just found this thread. cool. Looks like I'm just a wanabee.
Planning a trip to NYC so this 2 hyatt nights (anywhere I think) free + $50 caught my eye
https://creditcards.chase.com/lp/hyatt50

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This discussion may be pertinent here ... ? (Chase being strict with people with ANY recent CC openings).
http://www.fatwallet.com/forums/finance/1446639/

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cnorrdin1 said:   Just found this thread. cool. Looks like I'm just a wanabee.
Planning a trip to NYC so this 2 hyatt nights (anywhere I think) free + $50 caught my eye
https://creditcards.chase.com/lp/hyatt50

  Good-.No foreign transaction fees† on international purchases. Plus, Chip-enabled technology brings you greater worldwide acceptance and advanced security.Protection benefits including Lost Luggage Reimbursement, Trip Cancellation/Trip Interruption Insurance, Auto Rental Collision Damage Waiver, Extended Warranty Protection, and more.* 

Bad- 75 ann fee, waived first year.

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This thread is nine years old today. Wish I'd found this place then.

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Me too. Is the OP still living? I recall years ago he was quite active them just dropped off the face of the earth.

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Delete please 

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OIiverQuackenbush said:   Me too. Is the OP still living? I recall years ago he was quite active them just dropped off the face of the earth.
OP likely is still living..... living large from MAKING THOUSANDS OF $$ FROM CREDIT Link AOR

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We can keep this thread going. Things are different in the card world after 9 years though. A credit is still very much in demand. Citi Double cash is a great card for no fee 2% Cash Back. Another good one overlooked is AMEX everyday card. With 30 charges per month on the fee card you get 1.5 membership rewards points per dollar. That it very impressive if you can use those points for more than 2 cents each when you know what you are doing.

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I've always been fascinated by this thread. Anyway, I'd like some input. I will soon be going into my 3rd year under a credit management plan to eradicate debt and should be debt free by early 2016. However, I was told when I originally signed up that the banks will most likely close all my accounts once I completed the plan and the balances paid off, which will lead me with only one credit card - my Amex card. Now that I am older and wiser, I would like to start fresh. I will be making a few big purchases at the end of the year and would like to secure no more than 4 cards (2 personal and 2 business). How hard will it be for me to secure additional cards under my circumstances? Should I attempt to secure these cards now or wait until next year? And what are some good personal and business cards I should look into? Thanks!
 

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Need more information.

What's your credit score?
What's your credit history look like? BK? Major delinquincies? Last late payment? Collections?
When you say all your accounts, do you mean you have credit card with balances right now which will be closed when they're paid off?

My concern would be you hit some major financial road bumps and are quick to rack up debt again as soon as you're debt free.

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robertw477 said:   We can keep this thread going. Things are different in the card world after 9 years though. A credit is still very much in demand. Citi Double cash is a great card for no fee 2% Cash Back. Another good one overlooked is AMEX everyday card. With 30 charges per month on the fee card you get 1.5 membership rewards points per dollar. That it very impressive if you can use those points for more than 2 cents each when you know what you are doing.
  Questions.
While with a little effort one can make 30 purchases per month (breaking groceries into several purchases, buying multiple small Amazon cards, paying a few dollars on utility bills frequently), it is still a nuisance. Does anyone know if scheduling daily reloads on a sServe would work ($10 per day would add up to about $900 per month). While this would not earn points, would it keep the card in the 1.5 points category so one could count on more points from other spending on this card?

Also, how do you use the points for more than 2 cents on the dollar.

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Although more experienced than most here (several dozen cards), I thought I would ask advice here.

I had done many applications earlier this year, and then decided to buy a new house with a mortgage (which I got at 2 7/8% ARM). IO am of an age where I must take substantial funds from retirement account (about $225,000 per year), which are taxable income. The down payment, living expenses, charitable donations etc. meant I have depleted the liquid resources and do not wish to sell appreciated securities. I also have perhaps $140,000 in 0% debt that I will pay off in the next few months (to avoid interest).

I already have most of the good cards. I have a score of perhaps 740 and my wife of perhaps 790 or so (most family cards and debt are in my name). She has added few cards recently, but has agreed to some new ones to get over the coming cash crunch (which might require selling appreciated securities). These could be either ones with very good balance transfer terms, or 0% on purchases (and nice rewards of course), so not much cash is used for credit card payments. Cards will be paid off early 2016 from required minimum distributions.

I plan to make large charitable donations this year (half of income) so cards that either reward this (US Bank cards), or do not charge fees to the charity (Capital One cards) could be useful. Donations near the end of the year made by card would not cost cash to next year.

Amex Blue Cash preferred for the wife is obvious since we will hit my $6,000 limit on 6% back on groceries this year, and I need not pay the annual fee if she has this card to get 6% back on groceries (since several other cards can give 5% this year). You get 0% on purchases for a while, so only the minimum need be paid on our substantial grocery bills.

Chase Slate is obvious for both of us since its 0% on balance transfers and 0 balance transfer fees. This would be useful in repaying the card with about $125,000 balance at 0%. Are there other cards that are similar?

There seems many cards that will give a nice bonus for certain spending and have 0% on purchases for a few months to over a year. I could put enough spending on the card to meet the bonus requirements, and then pay only the minimum this year.

Getting more cards with favorable treatment for charitable donations could be useful, but the banks that issue these are reported to be difficult. U.S. Bank is because they reportedly dislike many inquiries (which I have). Capital One (who has a site that waives fees for donations to charities) because they reportedly pull all three bureaus.

I have a small consulting business, so more business cards are possible.

Getting a home equity line of credit might be useful to pay down the debts (and generate more mortgage interests deductions). This may be hard since the mortgage on the new house will be at 80% of equity, and most banks like to see more equity as backing, from what I understand, but someone may know of a lender that will issue such lines to a borrower who can show he has liquid assets many times the value of the house, which can be used to pay off the debt if need be. What could be a personal loan might be secured in addition by the equity in the house. They could avoid many underwriting expenses, since they would be looking to the other assets of the borrower rather than the house to assure repayment. 

Columbia Bank apparently advertises such loans at an initial rate of 1.99%, with them waiving the normal fees, but they may not approve me. I hear they will sometimes use a very recent appraisal. The appraisal for the mortgage to be taken out came in about $40,000 above the contracted price. The hidden cost to taking their deal (even if I can get it), is that the usual origination (and appraisal) fees must be paid if you cancel the line within three years (such as to take out a larger line from another borrower, or to sell the house).

I am asking for advice here because I have traditionally paid little attention to the balance transfer offers, since I normally do not carry balances where there will be interest charged, and some may have some good ideas, beyond the obvious ones. 

There are also some questions of timing, should I and my wife do several applications (an AOR).

First, should we apply before or after the move (will 0 months at an address you own look better or worse than being a renter where you have rented for about 10 years). I suspect I should not apply for any new cards until the settlement, since I understand mortgage companies routinely pull a new report on the day before settlement, and look for any major changes.

I understand banks look at the ratio of fixed expenses to income as a criteria, and prefer less than 40%. The mortgage payments (including taxes) will be higher than the current rent (moving to get a bigger house), so we might look a little better now than after the move. I suppose one might apply right after settlement, but just before the move, and then claim to be a long established renter with lower housing expenses.

Also, if balance transfers are likely, or even spending a certain amount, and then paying the minimum until next year, the size of the credit line become more important. If one wants a card just because of a generous bonus, or a nice percent back on a certain category, the size of the line is not very critical as long as it will cover the planned spending (possibly with a margin so the utilization on that card does not look bad to lenders).

However, certain orders of application may result in larger lines than others. Many lenders are likely to be willing to approve a card, but are likely to limit the size of the lines if they see other applications, or new cards.

My last Chase application was decline because they disliked the $125,000 on one card, and it seemed they would be very reluctant to approve any new cards until that was gone or reduced. If there are several good balance transfer cards obtained (possibly including a Slate for my wife), they might be used to reduce this to where they would give me a Slate with a large line. It might even be worthwhile to transfer some of it to another card that has no transfer fee, pay a little interest, and then get the Slate, and possibly use it to pay off the other card or cards.

The Slate (and a couple of other cards) have been described as suitable for those with Good (but not excellent credit). This is probably because those with excellent credit will pay if off as soon as the 0% interest period is over, and will hence be unprofitable. Those with less than Good credit probably pose too high a risk of default to be profitable. Chase probably makes money off of those who take Slate to refinance other debts, and who cannot repay it when the 0% interest period is over. Hence I speculate that they will give the card to those with Good credit, as well as to those with Excellent credit.

After reading the discussions on Flyertalk about Chase not giving new non-cobranded cards to those who have had more than 5 new cards with any issuer in the last 24 months, it appears I might not get the Slat at all, so perhaps it should be skipped.

With Chase the issue is not only getting the card, but getting a large line. Ideally, I would like a line similar to what I have for the card with the $125,000 balance, but I suspect that would be hard. I understand they often will do reallocation, and my total lines with them are only about $70,000. I wonder if they would let you reallocate all of them to a new Slate, or another new card.

I suspect that if a new cards from US Bank is wanted, it should be applied for early.

The timing of Capital One applications is harder. My major use for their cards might be year end charitable donations, and that might call for waiting a bit, and possibly when some debts had been transferred to my wife's card or business cards, and then applying. However, there might then be more inquiries on the record. Making Capital One applications early would result in inquiries on all Bureau's. In spite of good credit scores I have never been approved for one of their cards (the only one I have is a GM one which they took over from HSBC).

Any thoughts from those with relevant expertise?


 

rated:
ProfEd,

You certainly piqued my curiosity RE a single 0% line with a $125K balance. That's an impressive accomplishment. I've had lines that large and larger, but never with 0% money sitting on them. (Not sure if you've been around long enough to recall the days when the real credit plays were borrowing at 0% and saving at >= 5% . Good money to made doing that before 2008).

Anyway, I can tell you on the basis of many different data points that you will indeed have much better luck with Chase and other issuers when that huge reporting, revolving debt is paid down. I paid down much of my uber-low interest credit card debt for this reason a few years back.

rated:
DaveHanson said:   ProfEd,

You certainly piqued my curiosity RE a single 0% line with a $125K balance. That's an impressive accomplishment. I've had lines that large and larger, but never with 0% money sitting on them. (Not sure if you've been around long enough to recall the days when the real credit plays were borrowing at 0% and saving at >= 5% . Good money to made doing that before 2008).

Anyway, I can tell you on the basis of many different data points that you will indeed have much better luck with Chase and other issuers when that huge reporting, revolving debt is paid down. I paid down much of my uber-low interest credit card debt for this reason a few years back.

This is a result of having a card with a large line and then funding a FXCM foreign exchange account with cards (which were treated as purchases). Alas, government rules have changed and foreign exchange accounts can not be funded this way any more.

In turn, I could get a BOA card with 0% on purchases, and then reallocate lines from other cards with BOA or FIA. My experience is that BOA will give large lines if you can (and will) document very large liquid assets so it is obvious you can easily pay it off at will.

Alas, the securities I might sell to pay it off would create short term capital gains, so I would like to refinance it at 0% again, although that may not be practical.

I have been around a while and remember when rates were much higher. the one occasional when a large line on a card was most useful was when CITI let you open bank accounts with a credit card, but they would allow you only so many. It was nice to finance your new accounts by charging $100,000 (They claimed that they could let you charge more, but the CSR's said it would require asking supervisors, and something told me it might not be wise to have them make that request). Alas, CITI eventually decided that bank accounts somehow looked like cash advances, and a VISA rule forbid them from letting their new accounts be funded for this amount with a credit card.

You may be right that it may be better not to bother with keeping large balances at 0% if it scares lenders, or lowers your scores and you would be better to just pay them off. This may be especially true if the cards in question are near their limit, so you have a few cards that look like they are maxed out, even if overall you still have a lower percentage of utilization, and have a few hundred thousand is spare credit available. Some intelligent lends appear to understand why when you have a 0% card (say for purchases) you chose to pay only the minimum and let the balances push the limit, but others seem not to be understand, or use mechanical computer based models.

I understand having cards that are closed to maxed out does hurt your credit score, although it is not clear why it should. I do not know how large this effect is (do you or anyone)?

 

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