It's getting to be that time of year again, time for a new round of AOR cards. This will be my third go around. For a little history, see: AOR 2.0 Thread. I'll be updating this post as I go, but the first up to bat is my sister.
Strategy: This will be a four person, family-o-rama. I have some alternative uses, but for all my liquid funds, hopefully at least $500-$600k this go around, 100% of everything goes into HYC accounts, which still pay a nice 4-5%, and I use a cool site, to very quickly make all my debit purchases monthly. The site charges $1 per day for an email subscription; I don't care about the emails, but I can choose a "10 day subscription package" for each of my debit cards and have it charge the card $1 per day for 10 days in a row, taking care of all the nightmare of making 100+ HYC payments per month with about 1 minute of my time. I'm still earning 4%+ on the HYC accounts even after the quick $10 off the top.
Sister: Currently, the only cards she has with a balance is a BOA personal $11.3k (exp 7/10/09) and a Chase business $19k (exp 11/15/09). Given that Chase buisness 0% rates are no long available, I'm not sure if I will pay off her Chase balance yet, as the only risk is not getting a Chase personal card, of which all her credit is on the business side and they don't allow consolidation across the business/personal now (correct me if I'm wrong on this).
Sister's Current Cards
1. BOA - $14,400 2. Chase - $20,700 business credit only; (what a waste, I have no idea what she can do with this credit now) 3. AMEX - $500 (AA, used to be $24,900) 4. Citi - Either $0 or $2k ATT, $25k CR, $12k professional (after family wide AA, see AOR 2.0, I'm not sure her current Citi status, will have to check) 5. National City - $10,000 6. She has about $25-$30k of other CL's, but not of use for current AOR purposes other than to help overall utilization.
CRA Pulled / Sister's Planned Applications
1. EX - BOA- 0% 12 mo, $30 max BT fee; unless someone knows where to find that old no bt fee BOA card, which I can't. 2. DENIED - TU - Chase Disney - - 0% 12 mo, $75 max BT fee. Again, its unfortunate she only has Chase Business credit ($20,700 of it) and they won't let you move business credit to a personal card. I really wish we could find a Chase Business 0% offer! (Dad has a $50k Chase business line). 3. DENIED - BLACKLISTED STILL - EX - Citi - Cannot find any 0% 12 mo Citi personal offers, just 6 mo 0% offer. Help! 4. TU - DENIED - APPLIED 8/8/09 - ASKED FOR $24.5K BT TO 5/3 HELOC - US Banknull - 12 mo, 0% No BT Fee - always had a problem getting approved for this for my sister and I, and may apply before paying BOA off b/c they don't believe you have high HHI if you have no CC balances. 5. EQ/TU - Wachovia - - must call (866) 327-6214 to apply, 0% 12 mo, $99 BT fee. 6. EQ - National City - 0% 6 mo, $0 BT fee. May have to close existing National City card to get approved. 7. EQ - RBS - - 0% 6 mo, $60 fee. They are pretty stingy with CL, not sure if this is worth it. 8. ?? - PenFed - - 2.99% LOB BT offer. Juniper - ...
Areas I need help on: 1. Anyone have a Discover personal and/or business 0% app? 2. There are no deals for CardSelection.com or Cardoffers.com for any of these apps right?
Message edited by: MikeR397 on 2009-08-22 11:15:02 CDT
If you are a member of one of those sites you should be able to send a referral link to your sis and make $20 per completed application. However, I haven't gotten my check for signing up for a card myself so ymmv.
I haven't done my AOR 3.0 because of credit market conditions but it will be very interesting to see your results. Hopefully I will feel encouraged to do mine too. Best of luck.
Hindustani said:I haven't done my AOR 3.0 because of credit market conditions but it will be very interesting to see your results. Hopefully I will feel encouraged to do mine too. Best of luck.
Citi Platinum Select MC has an offer of 0% for upto 12 months based on credit history.Thanks, but the balance transfer fee on this card is not capped, unfortunately.
As for my general success, fortuantely my family has a lot of credit already, and IF we can consolidate, it just takes one card at each issuer to get a sizeable BT out.
Message edited by: MikeR397 on 2009-07-04 15:28:15 CDT
I'll be watching this. My AOR 2.0 paid off the house (with HELOC line backup) and a 2.24% backup. WOR 2.0 I am about ready to launch to continue the float.
At the beginning of the year, I experienced a reluctance to move lines.
narshe14 said:I've been more worried about consolidating lines. I had read that Chase was not doing consolidations any more, for personal and business cards?There's a whole thread on the topic here.
I may plan for another round credit card application mainly for sign up bonus. I am uncertain how many CCS should I go for current economic or banking situation.
www.infodailynewsletter.com is anything BUT Cool. This website is ugly and unprofessional looking (need a web designer). Red for you.
$1 /day = $365/year. $15,000 @2.25% interest (ally bank CD rate) will yield the subscription fee . I get more smart investment ideas from fatwallet for fee.
Message edited by: swagatalakshmi on 2009-07-04 22:28:38 CDT
swagatalakshmi said:www.infodailynewsletter.com is anything BUT Cool. This website is ugly and unprofessional looking (need a web designer). Red for you.I look for functionality in my financial products, not "bling". If it's reliable and does what it says it will, I'd consider it as a worthwhile alternative to typing in numerous $1 payments on my cable bill each month.
swagatalakshmi said:$1 /day = $365/year. $15,000 @2.25% interest (ally bank CD rate) will yield the subscription fee . I get more smart investment ideas from fatwallet for fee.FYI, finding ways to manufacture 10 $1 "throw-away" transactions per month has been core to the rewards checking discussion ever since that type of account first appeared here a couple years ago; finding options that recur automatically has been the challenge.
Spending $10 (typical required transactions are 10/month) to earn an extra $60 ($50k in a 4% rewards account, verses in a 2% CD) IS one of those "smart investment ideas (you can get) from fatwallet for f(r)ee".
Message edited by: Glitch99 on 2009-07-05 01:19:41 CDT
Venturion said:Mike - will you be doing any b*age? Are you considering freezing any of your reports?I always do b* after each round. In the past, near all of my apps pulled TU, then EQ, then only a few EX, which was perfect for b*. Before last year's AOR, Citi switched to EX. I've never frozen a CRA before, and I'm still not certain its really needed. Given the fact that I'm probably only going to have 10-15 apps I'll do in total per person, there's not enough EX pulls that'll hit that make me care much anyway. I don't recall ever being denied by an EX puller for too many EX inquiries.
In fact, I haven't check my reports very recently, and all my EX inquries from June 07 AOR 1.0 should in theory have dropped off by now.
Message edited by: MikeR397 on 2009-07-04 23:22:20 CDT
What services do you use to bump? I thought bumpingdoesnt work anymore? It will be interesting to see your results, but getting 600K new might betough in this environment.
Glitch99 said:swagatalakshmi said:www.infodailynewsletter.com is anything BUT Cool. This website is ugly and unprofessional looking (need a web designer). Red for you.I look for functionality in my financial products, not "bling". If it's reliable and does what it says it will, I'd consider it as a worthwhile alternative to typing in numerous $1 payments on my cable bill each month.
swagatalakshmi said:$1 /day = $365/year. $15,000 @2.25% interest (ally bank CD rate) will yield the subscription fee . I get more smart investment ideas from fatwallet for fee.FYI, finding ways to manufacture 10 $1 "throw-away" transactions per month has been core to the rewards checking discussion ever since that type of account first appeared here a couple years ago; finding options that recur automatically has been the challenge.
Spending $10 (typical required transactions are 10/month) to earn an extra $60 ($50k in a 4% rewards account, verses in a 2% CD) IS one of those "smart investment ideas (you can get) from fatwallet for f(r)ee".
Website says : "For just $1 charged daily to your debit or credit card, join today to receive a daily financial tip via email and start taking advantage of answers to questions like these:"
1) You are about to throw away $30/month not $10/month.
2) Why throw away even $10/month ? don't we pump gas ? I have 2 reward checking accounts and I never had to "throw away" anything.
3) Having a "good" website means something different. It has nothing to do with "blings".
4) It seems you have some stake on this website. You are never going to get my $10. Best of luck.
Message edited by: swagatalakshmi on 2009-07-05 01:36:03 CDT
swagatalakshmi said:Website says : "For just $1 charged daily to your debit or credit card, join today to receive a daily financial tip via email and start taking advantage of answers to questions like these:"
1) You are about to throw away $30/month not $10/month.
2) Why throw away even $10/month ? don't we pump gas ? I have 2 reward checking accounts and I never had to "throw away" anything.
3) Having a "good" website means something different. It has nothing to do with "blings".
4) It seems you have some stake on this website. You are never going to get my $10. Best of luck. You should read more carefully to fully understand what is being offered by the website.
1. No, you can opt for $10/month. There are various subscription plans being offered, two of which result in 10 one dollar charges to the debit/credit card.
2. Many of us have over ten Rewards Checking accounts with over 100 debit card transactions required monthly. We also have busy lives and welcome efficient strategies of fulfilling those requirements.
3. Many websites evolve and improve over time. The look of the website isn't as important to me as having more options. I would like subscriptions with varying prices.
4. I have no stake in the website but admire the creator’s ingenuity.
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