KiasuChick's Pay-My-Rent -O-Rama updated 12/29/2007

Hello - I've been doing AORs for years now but today was my first major AOR. Since I cannot afford a house in SoCal I want to fund my rent for a year with OPM!

My goal is to get $120k in 0% to put in HYS, while staying around 50% total utilization. Also having paid off my car what's the point of my OK credit score, might as well put it to good use!

I have a three prong AOR strategy.

1. Currently I have $30k @ 0% in the US in my Mum's name expiring in July 2007 and 2. £10k ($20k) in the UK @ 0% until February 2008. 3. I have only one CitiBusiness card with 0% in my name so I plan a rolling AOR.

Starting with my AOR today, then another in my Mum's name in August/September then another in the UK in 2008.

++Pre-AOR Situation

Card----------------------Date------Limit-----Current Balance-------% Util.
AMEX Costco TrueEarnings--2005------$24,900---$900.17---------------4%
Citibank Plat. Div. MC----2003------$25,000---$582.6----------------2%
BOFA MC - ex MBNA P Plus--1998------$35,000---$1858.32--------------5%
Chase---------------------2003------$5,000----$0--------------------0%
BOFA Visa----------------2005------$17,500---$0--------------------0%
AMEX Blue-----------------2001------$24,900---$0--------------------0%

Total CL: $132,300
Total Balance: $3,341.09
Avg Utilization: 3%

Other Cards
Citi Business-------------2006------$4,800----$3,040--------------63%
Macys---------------------1998------$2,000----$0-------------------0%
Old Navy------------------2001------$1,100----$0-------------------0%
Home Depot----------------2001------$7,000----$0-------------------0%


Citi (Cons.) Student Loan-2006------$9,855----$7,923


Total Debt: $13,197.03
Total CL: $147,200.00

++Application Stats

HHI: $93k
Age: 27
FAKO (TC): TU789/EQ796/EX796
Employment: 6 years, 3 months with current employer (yuck, bad planning)

++AOR Summary

Card------------------Promo Length---Max. BT fee---Approved?-----------Credit Line-----------BT Amount Requested
Chase CLI-------------NA-------------NA-----------Approved----($5000 --> $17,000)--------
Fidelity Worldpoints--12-------------UNCAPPED------Approved----NA--$10000---------------
FNBO Visa-------------15-------------$75-----------Approved------------$15,000-------------
Advanta Plat Bus MC---15-------------$50-----------Approved------------$12500-----------------
Discover® Platinum----12-------------$0------------Approved-------$12000---------------15k
Citi Simplicity-------12-------------$0------------Down----------------NA--------------------
CitiBusiness® PPass---12-------------$0------------Approved-----$4000--------------------
AT&T Universal--------12-------------$0------------Approved------------$4500-----------------
State Farm Visa--------9-------------$0------------Deferred------------NA--------------------15k
CitiBusiness w/TY-----12-------------$0------------Approved-----$4000--------------------
AMEX IN:LA-------------6-------------$0------------Approved------------$25200----------------
Yahoo! Titanium Visa--12-------------$50-----------Approved------------$4200--------------------
Star Wars Card--------12-------------$75-----------Down----------------NA--------------------
Chase Free Cash-------12-------------$75-----------Approved------------$7000--------------------
Juniper I FlyVisa-----12-------------$50-----------Approved------------$15000----------------
RBS Platinum----------10-------------$60-----------Approved--------$7000--------------------
Sony Plat. Visa-------12-------------$75-----------Approved------------$7000-----------------

++Results

Total new CL: $149,400 (total CL: $276,800)
Total Approved: 13/14

Overall I'm glad to see SOME approvals, bit worried about the # of deferred. Hope they pulled my credit today. Upset I couldn't get the Fidelity card as I really want that for 1.5% Cash Back. FIA/BofA was totally down today as well as Citi Simplicity.

Am I missing any cards I should apply for today, 13 is unlucky # ?

5 out of 13 approvals (and no instant denials) is good, don't worry. I don't see Chase Freedom on your list, it looks like the $250 bonus is back, check out the thread.

What's the deal with the Fidelity card? The only one I see is the one that pays from an account you have with them? Is there a different card?

Hey, this may be a dumb question but what do you mean by OPM in you first post.

I checked the acronym list on the Wiki and didn't see it there, and I'm failing to see the obvious meaning.

Hate to be a Gloomy Gus, but I don't think you're going to make enough to pay southern california rent for more than a few months (unless you're living in a really cheap place!)

For the debt that's in your mother's name, are any of your lines joint? For doing rolling AORs, it's important to keep all your tradelines separate (especially the ones carrying debt).

You'll probably get at least a decent number of the deferred cards approved.

markkundinger said: Hate to be a Gloomy Gus, but I don't think you're going to make enough to pay southern california rent for more than a few months (unless you're living in a really cheap place!)

For the debt that's in your mother's name, are any of your lines joint? For doing rolling AORs, it's important to keep all your tradelines separate (especially the ones carrying debt).

You'll probably get at least a decent number of the deferred cards approved.

My rent is paid if I can get $120k @ 5% APR. Just hope I can get that amount.

Yes I took myself off as AU over two years ago for my Mum's accounts. I put myself on to "build" credit under her SS# as she hadn't lived here for 30+ years.

Everything is separate. And the UK doesn't talk to the US for now, so that's nice.

Thanks for the advice!

robertw477 said: Looks like some nice work. I dont see you mention scores going in but I fugure you were pretty high to bein with. My own AOL will start within the next week. Waiting to see if a few scores update etc right now. Great work! Post the followups on the deferred apps!

Rob

I will be posting updates. Scores this morning from TC: TU789/EQ796/Ex796

markkundinger said: Wait, how did you apply for a Citi Simplicity card? I thought they were discontinued?

Yes I think you are right. I had the link but the server was down when I went to apply page. Their site is still up though with the application link??

500 a month is pretty cheap rent...

Also, you need to consider tax implications, bringing your total down a bit.

kiasuchick said: daregan said: What's the deal with the Fidelity card? The only one I see is the one that pays from an account you have with them? Is there a different card?

This is the credit card not the ATM card.

5000 worldpoints = $75. So it's straight 1.5% Cash Back into my Fidelity account. From there I can use it to pay bills, cash from atm or transfer to HYS. Very frustrated I couldn't sign up for it.


Edit: Looks like application is up again, applied but said they cannot give a decision right now. Fingers-crossed!!!!

If it makes you feel any better I really wanted this card also. I applied online. After filling everything out, I was sent to a page that said the online application process was down to call a 1-800 number. I called the next day and was denied. I thought this was pretty odd because my credit is pretty strong. I shook it off and figured I would reapply 6 months from now. I got the card in the mail about a week and a half after the online app process. I guess it went through after all.

smithr4 said: highmktgoods said: 500 a month is pretty cheap rent...

Also, you need to consider tax implications, bringing your total down a bit.

That's what I was thinking. You're must be either getting a REALLY sweet deal on rent or you're living in a rickety shack somewhere. That said, the AOR strategy is still a great plan if done properly.

Lol there are plenty of people on here who are paying $400-500. I rent a house with two roommates who are never home so it's very sweet deal.

ezskanking said: I really hate for anyone to be caught by spam but the link for citi simplicity posted before appears to be a scam. Try the domain citi.bridgetrack.com
http://citi.bridgetrack.com/usc/05/simplicity/value.html?BTData=C02117A74667B615B564B4CABB0A1ACAB8D938D81F1F1E8FDF9E4F97D4&BT_TRF=275375&app=UNSOL&sc=4DPZE235&m=0DTV000000W&langId=EN&siteId=CB&B=M&ProspectID=BD38EA5FE7BA4B8AAE9D8C31DDBF2FD5

Jay

Lol it's their third party tracking system. They probably have it set up so they can do AB testing on their landing pages to see which pages convert better.

Funny that's like saying all the Commission Junction/LinkShare links on FW are a scam.

cyberkost said: I'm not sure I read the OP correctly, but it appears you have credit cards both in US and UK ... which makes me ask these pretty naive questions:

1. Is there a way for a US citizen, residing and working in US to get a UK credit card?
2. If so, is UK credit history totally separate from US credit history?
2a. Does UK have its own credit reporting agencies, or TU, EX, and EQ cover UK as well?
2b. If TU/EX/EQ cover UK as well, would UK identity of a person be separate from US identity (e.g. can one run a parallel AOR in UK, regardless of what one's US credit scores are)?


1. I don't believe so, you are supposed to be resident in the UK. I lived in the UK until I was 18 so I just pretend I still live there with my parents and I am a student for credit card purposes.
2. Yes completely separate. No SS#s in the UK.
2a. I've only seen Experian in the UK with my UK MBNA card.
2b. See 2.

cyberkost said: I'm not sure I read the OP correctly, but it appears you have credit cards both in US and UK ... which makes me ask these pretty naive questions......

Pretty interesting. This is the first thread I've seen mentioning the 0$ game in the UK. Maybe I just wasn't looking. I live in the UK right now and will be here for another 1.5 years. Your US credit history means nothing here - even for international banks like HSBC. I'm in my 40s, own two houses in the US and make a pretty decent salary that's all verifiable, but I had to start out with a wanky little £2000 credit limit on a credit card, and people tell me I was lucky to get that.

People that do the 0% game over here are called 'credit card tarts'. There's lots of 0% offers, but most are only for 9 months and they *all* come with at least a 2% flat fee. That's 2% up front, reducing the amount to invest. Tally that up with the almost 35% income tax, and it really makes the whole thing not worth the effort.

I'd be interested in the OP's experience doing the 0% game in the UK - maybe I'm missing something....

Life is good. Got my Fidelity card today

anakinskywalker said: smithr4, even in the SF Bay Area $500 a month rent is not too unusual for single people, especially if you happen to find a apartment-mate who has been holding on to the lease for a while... you don't have to live in a rickety shack to get a deal like that...

more like *several* apartment mates ... you'd be hard-pressed to find a 2br apartment in the bay area for $1000/month.

anakinskywalker said: henare said: anakinskywalker said: smithr4, even in the SF Bay Area $500 a month rent is not too unusual for single people, especially if you happen to find a apartment-mate who has been holding on to the lease for a while... you don't have to live in a rickety shack to get a deal like that...

more like *several* apartment mates ... you'd be hard-pressed to find a 2br apartment in the bay area for $1000/month.

One of my friends has one of those deals I am talking about. He pays $450 a month for a nice room in a 3BR apartment. In that same apartment complex I pay $2000 a month for a 2BR apartment. My friend pays so much lower because his apartment-mates have a lease that is about 10 years old...

Anakin

I pay $515 for the master bedroom w/bathroom in a 3BR house in SoCal. I have two roommates who are never home. Perfect deal. Lived there for 3.5 years.

chibimike said: kiasuchick said:
Starting with my AOR today, then another in my Mum's name in August/September then another in the UK in 2008.


What is the "in my Mum's name" part?
Are you suggesting that you are going to apply for credit using your mothers information?[/Q

Yes we have an agreement. She knows exactly what is going on.</blockquote>

kiasuchick said: chibimike said: kiasuchick said:
Starting with my AOR today, then another in my Mum's name in August/September then another in the UK in 2008.


What is the "in my Mum's name" part?
Are you suggesting that you are going to apply for credit using your mothers information?

Yes we have an agreement. She knows exactly what is going on.</blockquote>

Seems risky if not illegal. If the CC companies find out, you could be facing fraud charges unless you have some sort of power of attorney for your mother.

Plus, you will have one hell of a mess if either you or your mother: dies, gets sick, goes bk, gets sued, gets in tax trouble, unexpectedly needs a loan, gets your ID stolen, or gets into a situation where you need government assistance (means tests).

You would certainly be taking AOR to the extreme, but you are also putting your mother and yourself at severe risk with this.

micecali said: how do you balance transfer to HSBC card?
is it a visa logo or just a plain debit card?
thanks

It is the debit card for my checking account with a mastercard logo.

jevon90 said: kiasuchick said: November Interest: $889.28
very nice, that's free rent where I am. well done.

Thanks. I just wish I could keep this up after June/Oct of '08. It's helping my cash flow a lot!