I opted on Sep 3rd to apply "early" to ensure I don't miss the chance at 5%...
I was approved 9/8/2008 (email announcement)
I opened Citibank deposit account (UMA) yesterday on 9/9/2008
This morning (9/10/2008), with BT in progress and no physical CASH Returns card in hand, I was able to sucessfully consolidate my Associated Bank card into my new CASH Returns card (online the Associated Bank card immediately showed closed with a $80 credit line) (Thanks 800-950-5114 Mike #86025!)...rep advised I may lose the promotional BT terms which I'm ok with because I plan on paying it off immediately to free room to
make deposit via CASH Returns card into my unfunded deposit account
Only one thing I'm concerned about...will the $24000 BT post to CASH Returns card with uncapped 3% fee $720!!
Ipecac
Member
posted: Sep. 10, 2008 @ 2:38p
jackcrawfish said: Only one thing I'm concerned about...will the $24000 BT post to CASH Returns card with uncapped 3% fee $720!!
No, you won't be charged a BT fee. It will just show up as a 24k purchase on the CashReturns. But don't get too excited when you see that because it, unfortunately, doesn't count like a real purchase for the 5% Cash Back.
I was excited to fund a savings account with a CASH Returns credit card but I've confirmed with multiple CSRs and other sources that the technical issues where CASH Returns card funding transactions were posting as purchases have been corrected. Now any funding ideas I had have been squashed because these will post now as a cash advance and incur a 3% uncapped fee...
what a crock...
Ipecac
Member
posted: Sep. 10, 2008 @ 10:04p
jackcrawfish said: crap...
I was excited to fund a savings account with a CASH Returns credit card but I've confirmed with multiple CSRs and other sources that the technical issues where CASH Returns card funding transactions were posting as purchases have been corrected. Now any funding ideas I had have been squashed because these will post now as a cash advance and incur a 3% uncapped fee...
what a crock...
Yikes I sure hope that is not true. I have a big one in process now. It hasn't posted yet, but it is subtracted from my available credit now. I should be able to tell if it goes through as a cash advance in a day or so. Even if it does go though as a purchase, they could recode it as a CA later.
PoisnBGood
Senior Member
posted: Sep. 11, 2008 @ 8:12a
So which side is it that is giving you trouble? Is the savings account now processing CC funding as a cash advance? Is the CASH returns card now processing funding as a cash advance? Or is this a collaborative effort between the 2 Citi divisions?
I'm curious as to which deal is dead. The funding of a Citi savings account with CC to get Cash Back in general, or the use of a CASH returns card to fund savings accounts in general to get Cash Back. I hope I worded that correctly.
hey jackcrawfish, did you get any of the new Barclays credit cards? I applied for 3, the Farm Bureau, Juniper Biz and Bank Atlantic Biz. They gave me all three cards then canceled one of the biz cards since they said you can only have one on your account.
The Farm Bureau is easy to get the funds, just deposit the included BT check.
The Biz cards are difficult and they won't send me a BT check nor deposit into my bank account. They said they will only transfer to another CC...
I wonder what's the best way to get the biz card funds? All my credit cards seem to charge at least $50 to $99 for a BT checks.
Thanks
PoisnBGood
Senior Member
posted: Sep. 12, 2008 @ 7:09a
bas2000 said: hey jackcrawfish, did you get any of the new Barclays credit cards? I applied for 3, the Farm Bureau, Juniper Biz and Bank Atlantic Biz. They gave me all three cards then canceled one of the biz cards since they said you can only have one on your account.
The Farm Bureau is easy to get the funds, just deposit the included BT check.
The Biz cards are difficult and they won't send me a BT check nor deposit into my bank account. They said they will only transfer to another CC...
I wonder what's the best way to get the biz card funds? All my credit cards seem to charge at least $50 to $99 for a BT checks.
Thanks
You can BT to a card that already has a balance from a BT, and then use the same method you used to get BT from the 2nd card again. For me, I did a BT direct deposit from BOA, then BT from bank atlantic to BOA, and then DD from BOA again. And yes, a lot of cards these days have a $50 to $99 fee. There are still some with no fee, but the fee is justified as long as its capped and you end up on top.
received an email from Citibank. The subject line is intended to draw me in based on the 2.65% APY:Your Citibank Ultimate Money Account – when you fund it, it will pay.While I'm drawn to the account for a different reason, Citibank was wise to Mrs J's activity so I'm laying low for a while...
side comment: Scott1961 should be proud of Squeezer and his political post.
jackcrawfish said: markkundinger said: jackcrawfish said: I was denied my Wells Fargo application initially. Wells Fargo credit analysts stated the credit policy is to only allow one card at a time. After confirming reopening was possible, I asked to close my $16,500 existing line to try and take advantage of an excellent BT offer on the new application. The credit rep said wait a few days for their decision on the new application.Interesting jack, and I may have missed it before but how long had the old card bene closed? i've got one that's been closed a few months. Do you know if "reopening" would require a hard inquiry? do you have a number for WF's credit ninja department?I applied while my first card was still open to test their policy of 1 card per person. Per my multiple card research, I was told:You usually can have only one Wells Fargo credit card account with you as the only cardholder.
You can close you account one day and submit an application the next dayWhen I called for the status of my application the credit rep confirmed their policy of 1 card per person. It was during the app status call that I requested closure of my existing 16500 card. (To your question regarding hard inquiry for reopen): I asked, "If I close my existing card (so that the new application can be considered) and I am denied, can I reopen the closed card without a hard inquiry?"
Her response was, "if the request to reopen is within 60 days of closure, a hard inquiry is not needed."
Frankly, I don't believe Wells would deny my new application and then reopen my closed line without a hard review.
YMMV
edit: 800-967-9521 is direct line to credit departmentWhen I logged in to Wells online I can see my new card with a 8000 credit line and a closed card with a zero credit line... hmmmmm...
I decided to call to request re-open of my closed AOR1.0 line. I was told a request would be made for a "re-open review" to a manager and that someone would call me within 24 hours.
Within 4 hours, I received a call approving the reopen request of my old Wells card. The person identified herself as being from the "Wells Fargo executive office." I checked online and saw that my old credit line has been fully reinstated (16,500). woo hooooo!
I'll call to request credit line reallocation or consolidation to my newer Wells card and report my results here later (Wells new BTs are free during the 1st 30 days from new account opening). I've already drawn 7000 of the new 8000 card... I'll see how reallocation goes.
Now it gets weird...online this morning I viewed my transaction history for my Countrywide account and discovered that before they wired the $96,500 to eBank, they GAVE me a credit for $96,500 (see below):
POSTING DATE TRANSACTION DESCRIPTION CREDIT DEBIT BALANCE
09/19/08 WIRE TRANSFER FEE $15.00 $34,314.19
09/19/08 20081234567890 $96,500.00 $34,329.19
Now maybe I'll just ACH $96,500 to a linked external account under the presumption the original wire request never went through due to the 105,000 minimum rule (make Countrywide ask for their money back)
EDIT: The wire was rejected based on bad ABA information. I called EBank; EBank rep provided new information; I called 877-518-8900 (Countrywide Wire dept); I faxed wire request to "Wire Corrections Officer Erica" @ 480-224-6794 (she said she would not charge an additional wire fee)
PoisnBGood
Senior Member
posted: Sep. 22, 2008 @ 9:38a
ya, that'll show them for the $15 fee. Unless of course they catch you before the wire transfer takes place and you end up paying an overdraft fee for $96,500.00, hahahah.
jackcrawfish said: jackcrawfish said: markkundinger said: jackcrawfish said: I was denied my Wells Fargo application initially. Wells Fargo credit analysts stated the credit policy is to only allow one card at a time. After confirming reopening was possible, I asked to close my $16,500 existing line to try and take advantage of an excellent BT offer on the new application. The credit rep said wait a few days for their decision on the new application.Interesting jack, and I may have missed it before but how long had the old card bene closed? i've got one that's been closed a few months. Do you know if "reopening" would require a hard inquiry? do you have a number for WF's credit ninja department?I applied while my first card was still open to test their policy of 1 card per person. Per my multiple card research, I was told:You usually can have only one Wells Fargo credit card account with you as the only cardholder.
You can close you account one day and submit an application the next dayWhen I called for the status of my application the credit rep confirmed their policy of 1 card per person. It was during the app status call that I requested closure of my existing 16500 card. (To your question regarding hard inquiry for reopen): I asked, "If I close my existing card (so that the new application can be considered) and I am denied, can I reopen the closed card without a hard inquiry?"
Her response was, "if the request to reopen is within 60 days of closure, a hard inquiry is not needed."
Frankly, I don't believe Wells would deny my new application and then reopen my closed line without a hard review.
YMMV
edit: 800-967-9521 is direct line to credit departmentWhen I logged in to Wells online I can see my new card with a 8000 credit line and a closed card with a zero credit line... hmmmmm...
I decided to call to request re-open of my closed AOR1.0 line. I was told a request would be made for a "re-open review" to a manager and that someone would call me within 24 hours.
Within 4 hours, I received a call approving the reopen request of my old Wells card. The person identified herself as being from the "Wells Fargo executive office." I checked online and saw that my old credit line has been fully reinstated (16,500). woo hooooo!
I'll call to request credit line reallocation or consolidation to my newer Wells card and report my results here later (Wells new BTs are free during the 1st 30 days from new account opening). I've already drawn 7000 of the new 8000 card... I'll see how reallocation goes.WOOOOOO HOOOOOOOOOOO!!!!!!!!!!!!!!!
I just got off the phone with Wells Fargo. They consolidated 16500 AOR1.0 card limit into 8000 AOR2.0 card limit (online viewable AOR2.0 limit now 24500).
Furthermore, since I was still within the 1st 30 days of my AOR2.0 card life, they were able to ACH $13000 to checking for no fee. I'll update the CC ISSUER FAQ soon.
Just completed my Juniper business card shuffle. (PIF on Bank Atlantic --> Move CL to Natl Parks --> Apply for Juniper business, get turned down for "too much credit with Barclays" --> Call to move Natl Parks CL to Juniper Business in order to get it approved). They said my new card should arrive in 7-10 business days.
They were quite pleasant and remarkably efficient on the phone, no one questioned my need for another business card so soon after closing the Bank Atlantic.
apologies for the temporary threadjack but this thread has become my reference for "all things Barclay's"
here's another Barclay's datapoint for you. Pay attention to the dates. I applied on 8/22/2008 for a Farm Bureau Bank card:
I received an adverse action letter last week dated 10/17/2008 which thanked me for applying for the Farm Bureau Bank card. They were unable to approve me due to
"Sufficient credit available ...."
Reg B states "Notification of action taken, ECOA notice, and statement of specific reasons —(1) When notification is required. A creditor shall notify an applicant of action taken within 30 days after receiving a completed application concerning the creditor's approval of, counteroffer to, or adverse action on the application;"
Mrs J received two letters from Barclays also (Best Western and I Fly cards).
Upon call in (866-408-4064) I was told there were several letters which failed to go out (computer issues I was told). This 10/17/2008 letter was merely a formal notice of denial...
What would codename47 do with this information?
BobbyRobert
Ancient Member
posted: Oct. 27, 2008 @ 3:04p
jackcrawfish said: here's another Barclay's datapoint for you. Pay attention to the dates. I applied on 8/22/2008 for a Farm Bureau Bank card:
I received an adverse action letter last week dated 10/17/2008 which thanked me for applying for the Farm Bureau Bank card. They were unable to approve me due to
"Sufficient credit available ...."
Reg B states "Notification of action taken, ECOA notice, and statement of specific reasons —(1) When notification is required. A creditor shall notify an applicant of action taken within 30 days after receiving a completed application concerning the creditor's approval of, counteroffer to, or adverse action on the application;"
Mrs J received two letters from Barclays also (Best Western and I Fly cards).
Upon call in (866-408-4064) I was told there were several letters which failed to go out (computer issues I was told). This 10/17/2008 letter was merely a formal notice of denial...
What would codename47 do with this information?
did you ever receive your Farm Bureau card? In other words, was it AA (in which case I don't think there is much legally to do) or was it a very delayed denial?
I am no lawyer so I can't offer any advice of value. However, I have a feeling legal action may make it tricky to get more credit from barclays later -- that may not matter given the current plight of the promotional rate.
Why'd you sit on an application for 2 months, and not followup on it sooner? Or did this not about the application itself, and more just theorizing about the potential lawsuit proceeds?
My posts are purely lawsuit speculation on my part (based on their violation of ECOA).
When I called, they advised me there was an 'outage' and some applications were 'missed' with respect to sending adverse action letters (denial letters). As mentioned, Mrs J had two apps and I had just the one application wherein notice of credit denial was not delivered within the 30 days.
duna
Senior Member - 1K
posted: Oct. 27, 2008 @ 5:11p
When you say only one bus card--does that include non Citi Cards that are issued by Citi--such as Associated or ATT?
althes said: Citi only allows one card per business so you can't have 2 citi aa bus mc. But you can have a mc and visa.
I emailed CHASE to see if I could consolidate my 2 WAMU cards with a CHASE card. No dice (YET)
chase e-correspondence said: While we will be working hard to combine our services so customers can enjoy the convenience of expanded branches and accessing their accounts from a single website, it will take time to integrate all of our systems. For now, you should continue banking as you always have. Customers will continue to use their same checks, account numbers, ATM and debit cards, PINs, credit cards, and customer service phone numbers. At this time, all branches will also remain open and ready to serve you.
If we do have any changes of locations, bank names, policies or services, please be assured that you will be notified and we will be here to explain the details.
dluong819
New Member
posted: Nov. 25, 2008 @ 3:40a
Jack,
Do you happen to have the number to Barclays credit department you used to move credit lines?
Thanks for the interest. I have nothing very exciting to report. (yawn) Here 'goes:
I've been making 2x minimum payments for about 5 months now with no adverse action from anyone.
$100,000 is in a 5% CD with Ebank until April while the rest is in 5.01% reward checking with Pleasant Hill bank of MO.
I still have an untapped BT with a 10k Citi business card (I've only tried twice unsuccessfully to consolidate a 32k CASH Returns credit line).
My BOA Pet rewards expires on Feb 1, 2009 (the only 6 month card I have). I'm considering rolling the balance into a BOA Plat Plus. The only thing holding me back is my dilemma related to refinancing a mortgage - I may payoff my personal cards early so as to enable a clean mortgage refi application.
I had a couple of Barclays inquiries show up on 11/7 and 11/8. They were at TU and they were related to an earlier post wherein they sent a adverse action letters past the 30 window required by federal law. I never disputed the inquiries (too lazy).
On the bonuses front, Cardoffers sent me checks for Discover and a CHASE card. I also opened & received bonuses from CHASE ($125) and WAMU ($100) for checking accounts.
My now-cancelled-TrueCredit FAKOs as of 1/17/09 were 724, 697 & 741 for TU, EX and EQ (down from 780, 750 & 792).
Other than that, I don't have much new to report...
TheManWithout
Ancient Member
posted: Jan. 19, 2009 @ 10:20a
always good to keep up with what's cooking on the crawfish platter.
out of interest - do you have a strategic reason for the 2x minimum payments? i've been doing $5-10 above minimum with no adverse action so far, but will happily bump that up if it will benefit in some other way.
Some members here advise to not pay anything over the minimum (keep all of the BT money for as long as possible)
Other members tend to pay just over the minimum to avoid looking like one who can barely make minimum payments (moderate risk aversion)
I am inclined to making 2x minimum only to hopefully curry favor for a future credit line increase (aggressive risk aversion).
My thought is, the more I demonstrate my ability to handle a higher payment amount, the more credit an issuer may be inclined to grant. Of course there are multiple factors involved in granting line increases (ie, income, bank policies, macroecon environment). I am managing a factor which I can control - payment size.
TheManWithout
Ancient Member
posted: Jan. 19, 2009 @ 2:08p
thanks - i think we have similar risk aversion/laziness tendencies, so i may well start upping the monthly amounts too.
jackcrawfish said: The BOA account shows online today with the $40,000 line. However, the type of card identified is not Platinum Plus:
Bank of America Gold MasterCard
FYI for others applying via telephone.
It looks like they sent you the wrong card? My account online shows "Bank of America Platinum Plus MasterCard" and the physical card says the same thing as well.
This reminds me of the issue that I had with Chase years ago where they kept sending me the wrong United Mileage Plus Visa four times in a row whenever I would receive the wrong one before they finally realized it!
jackcrawfish said: The BOA account shows online today with the $40,000 line. However, the type of card identified is not Platinum Plus:
Bank of America Gold MasterCard
FYI for others applying via telephone.
The first time I applied for the Platinum Plus card, I got a Gold Card instead. This last time, I got an actual Platinum Plus card. Since the 0%/no fees were still applicable, I didn't care what kind of card I was sock-drawering. So, unless you have a reason to specifically want the Platinum card, I would just make sure the terms are what you wanted and not worry about it.
downhillskier said: jackcrawfish said: The BOA account shows online today with the $40,000 line. However, the type of card identified is not Platinum Plus:
Bank of America Gold MasterCard
FYI for others applying via telephone.
The first time I applied for the Platinum Plus card, I got a Gold Card instead. This last time, I got an actual Platinum Plus card. Since the 0%/no fees were still applicable, I didn't care what kind of card I was sock-drawering. So, unless you have a reason to specifically want the Platinum card, I would just make sure the terms are what you wanted and not worry about it.With your comment, Downhill, I figured it out:
The card and APR pricing is dependant upon credit worthiness.
APR's
7.24 platinum card
10.24 gold card
12.24 standard card
Since I'm began a rolling arbitrage strategy with the BOA Platinum Plus application, my credit worthiness was more questionable. Hence, I received their Gold card price point - not platinum.
jackcrawfish said: ...I also applied for another one of those ... other cards ...I called activation number on card and was transferred for consolidation requesst.
I consolidated 32,800 into the new 'other card' with 4,800 (reallocation was not feasible due to BT promotional offer on the targeted reallocation card).
New line = 37,600 and showed up online immediately.
After 3 months, I'll try consolidating into my biz card for the 12 month offer (maybe they will reverse their policy by then).
Side note: Not sure if you all were aware but the State Farm credit card pulls all 3 bureaus when you apply. FYI, anyway.
shura7400
Ancient Member
posted: Feb. 5, 2009 @ 10:50a
"Not sure if you all were aware but the State Farm credit card pulls all 3 bureaus when you apply."
Thx! How fresh is this info? I applied October - was pulled only one CRA
shura7400 said: "Not sure if you all were aware but the State Farm credit card pulls all 3 bureaus when you apply."
Thx! How fresh is this info? I applied October - was pulled only one CRA i've also read that state farm pulls TU and one other (EQ or EX, varies)....IMO i dont want them anywhere near my AOR!
mrfatwally
Member
posted: Feb. 21, 2009 @ 9:28p
did you have to call any of the credit bureaus to tell them to pick another credit bureau..
solarUS said: shura7400 said: "Not sure if you all were aware but the State Farm credit card pulls all 3 bureaus when you apply."
Thx! How fresh is this info? I applied October - was pulled only one CRA i've also read that state farm pulls TU and one other (EQ or EX, varies)....IMO i dont want them anywhere near my AOR! i crack myself up! why did i later reverse this smart decision and apply? oh yeah, because i had all but one bureau frozen, and thought "hey, they might not care!" lol
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.
