Credit Card Discussion Thread

[mannyrs13]

I got out of debt by 31. I mean I have $2500 in 0% interest debt but I have enough cash to wipe that out now.

Yeah I don't have much cc debt myself. Maybe less than $500 at the moment. I wanna get back into forex and keep raising my stocks and put money in my roth since I can but individual stocks there but my 401k is strictly funds. Wish I could buy individual stocks there. But wanna reach 20k in savings first. Hopefully accomplish that sometime next month so I can take a few risks.

 

[ViShawn]

Chase Ink Preferred Holders: Questions:

So I'm thinking of getting a CIP b/c of its bonuses and benefits. My questions are:

- Is the annual fee waived for this card?
- What constitutes a business to qualify for it? If you sell items on eBay does that qualify?

Also if anyone wants to throw me a referral link I can use so you guys get some points then lemme know!

 

[Obreh Winfrey]

Been eating good with this amex gold card brehs. You can really rack up some points fast with this card.

I'm on the fence about getting one. I don't do a lot of traveling, so if you rule that out, do you think it's still worth the annual fee? It's well within my budget at any rate. Keeping it all the way 100, I just want a metal card . I checked this morning and I'm pre qualified so I'm kinda like . I'm just a little hesitant because it won't have the same affect on my credit score since it's not a line of credit.

 

[GotEmShook]

I'm on the fence about getting one. I don't do a lot of traveling, so if you rule that out, do you think it's still worth the annual fee? It's well within my budget at any rate. Keeping it all the way 100, I just want a metal card . I checked this morning and I'm pre qualified so I'm kinda like . I'm just a little hesitant because it won't have the same affect on my credit score since it's not a line of credit.

It's suited for the average traveler i guess so if you fly once or twice a year then yeah, also If you frequent grocery stores and dining its well worth it. We spend about $500-600 on groceries a month and about $250-$300+ a month on dining from family dinners to lunch. If you use the credits ($120 dining credit + $100 airline credit/gift cards) that $250 fee is really just $30 and I get crazy compliments when i pull that metal gold card out

 

[Silkk]

Is it true you can't get the Chase Sapphire Reserve & Preferred? Was going to apply for both once my score jumps up but I'm seeing online it's only possible if you apply for both at the same time.......possibly

 

[Obreh Winfrey]

It's suited for the average traveler i guess so if you fly once or twice a year then yeah, also If you frequent grocery stores and dining its well worth it. We spend about $500-600 on groceries a month and about $250-$300+ a month on dining from family dinners to lunch. If you use the credits ($120 dining credit + $100 airline credit/gift cards) that $250 fee is really just $30 and I get crazy compliments when i pull that metal gold card out

I pulled the trigger . Since it's only me, my entire food budget is 350. I don't go to the places listed for the food credit, but it should be fine. I saw they had a few other potential credits I could take advantage of. But shyt, $250 really ain't that big a deal. I do have to figure out how I'm going to spend enough to get this sign up bonus. I may put my rent on it, but my apartment charges a fee for that . I guess I'll see what I can do with my other expenses for the first month and then plan from there.

 

[GotEmShook]

Is it true you can't get the Chase Sapphire Reserve & Preferred? Was going to apply for both once my score jumps up but I'm seeing online it's only possible if you apply for both at the same time.......possibly

yeah you only can have one sapphire card

 

[GotEmShook]

I pulled the trigger . Since it's only me, my entire food budget is 350. I don't go to the places listed for the food credit, but it should be fine. I saw they had a few other potential credits I could take advantage of. But shyt, $250 really ain't that big a deal. I do have to figure out how I'm going to spend enough to get this sign up bonus. I may put my rent on it, but my apartment charges a fee for that . I guess I'll see what I can do with my other expenses for the first month and then plan from there.

I use my credit on mostly grubhub and shake shack

 

[Silkk]

yeah you only can have one sapphire card

You have one? If so, which would you prefer and which other chase card would you recommend?

Cause I was thinking Chase Freedom in case I couldn't.

 

[GotEmShook]

You have one? If so, which would you prefer and which other chase card would you recommend?

Cause I was thinking Chase Freedom in case I couldn't.

I have the preferred but im downgrading it to the freedom. I dont use it enough. Reserve is a top tier card and its worth it over the preferred. Combined with the freedom and freedom unlimited you could rack in a ton of chase points.

 

[Silkk]

I have the preferred but im downgrading it to the freedom. I dont use it enough. Reserve is a top tier card and its worth it over the preferred. Combined with the freedom and freedom unlimited you could rack in a ton of chase points.

If you downgrade will it effect your credit limit on the card?

Main reason I was thinking of getting those two was because I know for sure the minimum limit on the reserve is 10k and on the preferred its 5k.

But I guess I should get a high limit with the freedom too because when I applied for my Amazon Chase card my score was only like 650-670 and they started me off with 3k on that one. Now im around a 720-740 so im thinking my shyt should for sure be higher.....?

 

[winb83]

If you downgrade will it effect your credit limit on the card?

Main reason I was thinking of getting those two was because I know for sure the minimum limit on the reserve is 10k and on the preferred its 5k.

But I guess I should get a high limit with the freedom too because when I applied for my Amazon Chase card my score was only like 650-670 and they started me off with 3k on that one. Now im around a 720-740 so im thinking my shyt should for sure be higher.....?

Chase has a max limit they'll give you across all cards. I actually lost some of my limit because I product changed another card and took some of my Chase Freedom limit and moved it to the other card then forgot to use it and Chase closed the account. It was a Slate I changed to an Unlimited Freedom. The Unlimited Freedom back then was wack. There are cards that get 2% cash back so why would I ever use a 1.5% cash back card. That's why Chase ended up closing it. I had no use for a 1.5% cash back card when the Citi Double Cash exist.

The current Unlimited Freedom is good for the 1st year because they double your cash back to 3% in year 1. I would choose that over the regular Freedom for a product change first.

 

[Clark Wayne]

Barclays gave me another random credit line increase. Wasn’t expecting it since I never use it but I won’t complain. Boosted my credit score too.

 

[GunRanger]

Is it true you can't get the Chase Sapphire Reserve & Preferred? Was going to apply for both once my score jumps up but I'm seeing online it's only possible if you apply for both at the same time.......possibly

You can apply for both but it makes no sense to have both

 

[Silkk]

You can apply for both but it makes no sense to have both

Why not? Minimum would be 15k between both.

I just need like 3k to use to purchase my products and it would raise my credit limit/lower my utilization.