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CIBC silliness


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24 replies to this topic

#1 Quasei2

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Posted 02 August 2010 - 10:31 AM

So back at the end of May when I was able to apply for a limit increase on my smaller CIBC account since the acct had been open 6 full statement cycles, I was told that there was something on my EQ report causing the denial. Ok whatever. I was about to take a big trip so didn't have time to deal with it right then.

About 3 weeks ago I decided to do the automated limit increase app for my CIBC aerogold and got the same response. Since then I've sent for both of my reports again and haven't yet received them.

Here's the bizarre part... this past Friday I received in the mail a pre-approved limit increase on my Aerogold! Yay my first pre-approved anything in almost 10 years!

Now I'm hoping though that if I let it sit for a bit I can move that extra $1000 limit over to the other account where I'd prefer to have it.



#2 Stu.Padaso

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Posted 02 August 2010 - 06:52 PM

Congratulations Quasei.

So is that how they're doing the CLI's now? I guess there is no other way, is there.

Edited by Stu.Padaso, 02 August 2010 - 06:53 PM.


#3 Quasei2

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Posted 03 August 2010 - 09:29 PM

And it gets better! I received a 2nd letter today for my card with the $3500 limit with a pre-approved increase to $6K!!! Sometime next week I'll stop into a branch and see if I can turn that one into a line of credit since I really don't need it as a credit card.

Also today I received my updated paper copy of EQ which is squeaky clean as I suspected and a current score of 712 - a nice rise from the 627 last November!

#4 breeze

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Posted 04 August 2010 - 11:26 AM

Congratulations!!

#5 Quasei2

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Posted 08 August 2010 - 01:42 PM

Thanks!

#6 Stu.Padaso

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Posted 08 August 2010 - 02:47 PM

So who did they pull? I know historically CIBC likes Equifax, but so did Scotia...and they pulled TU on an online app.

Sorry if you answered this before Quasei. I just can't remember. I've been assaulted with CIBC Aeroplan Visa advertisments during the last month or so. I get them mostly in my email (sent via Aeroplan), but I got a couple in the mail in the last month or so. One was directly addresses to me. Anyways, I'm thinking of taking the bonus miles.

If they pull EQ then I might go for it. My EQ is sitting at 791 with 0 inqs in 2 years while TU sits at 683 with 5 inqs in 2 years. CIBC would be my crowning achievement - this will make 1 major CC from each of the big 5 banks.

I know I'm weak. I'm a weak weak man...

Edited by Stu.Padaso, 08 August 2010 - 02:48 PM.


#7 Quasei2

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Posted 08 August 2010 - 03:52 PM

Hahaha!

CIBC pulled EQ for both of my cards and the soft for the pre-approved limit increases.

#8 Stu.Padaso

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Posted 09 August 2010 - 08:36 AM

Oh God, what did I do?

Twice yesterday, earlier in the evening, I looked at the CIBC website and their Visa cards and pulled back with a logical "I don't need it" statement running thru my head.

But about 11pm last night, under the extremely calming influence of my sleeping medication (zopiclone = good stuff!), I did the app. I kind of remember doing it, but all I got was a "we'll send you a letter in 2-3 weeks" in my email this morning. I still have not received an alert from either TU or EQ that somebody pulled my file.

If I get the same thing from CIBC that Scotia did: "We tentatively approved you for $XXk, but you need to jump thru hoops and do cartwheels to get it" then I might just forget it. To get the Momemtum (contrary to how easy my daughter said it would be) I had to fax the Scotia Visa center a ton of my investment crap and they even phoned my rep at BMO Harris to verify the numbers. Let's just say my rep at BMO Harris is never very helpful when it comes to non-BMO bank reps calling them in my regard. But eventually Scotia got what they needed. Anyways, like I said, I won't go thru that again for CIBC. It doesn't sound like much, but it's a bit of a hassle that I don't need right now.

In other news, I see my TU score jumped to 711. That's a 28 point jumped overnight. The only difference between today and yesterday is Scotia reported for August. I have a zero balance, but they reported $301 on Aug 9. I paid them up at the end of July for no reason other than I usually pay off all my cards at the end of the month, regardless of statement date. Why does Scotia do that Quasei? The statement date is usually around the 10th, but they seem to pull an amount from out of thin air.

Scotia just turned 4 months, but maybe it might be because of Can.Tire. I believe my Can.Tire MC is now a year old.

I've been refreshing TU daily since early mid-April I subscribe and have unlimited updates. I'm trying to see if this bumpage thing works in Canada. So far...nothing.

#9 Stu.Padaso

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Posted 11 August 2010 - 12:15 PM

Here we are, 2.5 business days later and CIBC still has not pulled either TU or EQ. Yes, I subscribe to both. Maybe it's because I used a link thru the Aeroplan website to ensure I get the 15k miles bonus and that causes the delay. I don't know. I also wonder if they just pulled a soft when I did it online. Neither the EQ or TU monitoring show soft pulls.

Maybe they blacklist. When I just turned 18 I got my first CC from CIBC. It had a $500 limit and I got it taken away from me within the year. Yeah, looking back I really was young and stupid.

Or...Maybe my application really was a hallucination caused by my sleep medication. Nope, it can't be. I still got the "thank you for your application" email.

Actually, if I was a gambling man I would bet even money that they already did a hard EQ pull. I just haven't been notified yet. The way EQ is working lately it wouldn't surprise me if I get the email about this time next week. TU is right on the money when it comes to credit monitoring. Judging by the past 6 months, if CIBC pulled TU then I would have had the email alert within minutes of my file being pulled.

Edited by Stu.Padaso, 11 August 2010 - 12:16 PM.


#10 breeze

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Posted 11 August 2010 - 07:11 PM

Ummmmmm, you should turn your computer off before you take the Zopiclone. :D I stayed on mine once after taking Ambien. Then next morning, I couldn't get windows to load. Took the puter to the shop and the guy said "somebody moved your system files." Then I vaguely remembered clicking and dragging some stuff to see what would happen. It seems ok while under the influence of Ambien. :D

#11 Stu.Padaso

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Posted 12 August 2010 - 08:57 AM

I see CIBC just pulled EQ. I got the alert right at 9AM on the button, so I imagine somebody sitting in a cubicle at CIBC Head Office came into work this morning and my app was sitting at the top of the pile on his/her desk.

I'm glad they pulled EQ. I refreshed my score/report at EQ just a few minutes ago. They only allow quarterly updates, and I was way overdue. So it worked out that now I can see my score after this hard inq. My score dropped from 791 to 741. Which is still much better than my TU score.

I see EQ might have fixed up their big problems they had earlier in the year. The report looks more like it was prior to their software update. The dates and such are still not perfect, but closer to accurate than they were back in the spring of this year.

I'm confident of an approval, at least a tentative one. The only thing stopping me is if they want to verify investment income with BMO Harris. I'm not going to do another song and dance, so they can keep it if it comes to that. It doesn't sound like much, but it's a real pain the ass to fax pages and pages and pages of financial documents full of info I like to keep as secret as possible.

But CIBC is the loosest Visa gal in the country, so I'm pretty sure it won't be a problem. The limit better be something usable, otherwise I'll take the bonus points and let it sit for a year and apply for a CLI after the first year. No CLI and it's cancelled.

I HATE that RBC only gave me $4k. With the 5% rebate on groceries (and my drugstore is in my grocery store, so my prescriptions count too) I'm easily spending $1500 on it a month. So I make multiple payments every month so they don't report a balance that is approaching 50% of the limit.

Anyways, I'm hoping for the best.



Ummmmmm, you should turn your computer off before you take the Zopiclone. ;) I stayed on mine once after taking Ambien. Then next morning, I couldn't get windows to load. Took the puter to the shop and the guy said "somebody moved your system files." Then I vaguely remembered clicking and dragging some stuff to see what would happen. It seems ok while under the influence of Ambien. :D


Heh. It's funny how it (the zopiclone) makes me not care about things. Like I said, I know I shouldn't have applied for this card. But the zopiclone softens me up and makes me impressionable with a la-de-dah attitude about everything in life.

I just looked up zopiclone. Interesting reading. Now I'm worried because my doctor told me it's not habit forming. But after reading up on it I guess that's what they thought YEARS ago. Now they know better. Nowadays it's only prescribed for 7-10 days only. Hmmmm, I've been taking it almost nightly for 2 YEARS!

Great....

#12 Quasei2

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Posted 14 August 2010 - 08:19 AM

Oh I suspect you'll be approved as well, Stu. As for the CLI's, I got pre-approved for increases on each of mine just last month after less than a year on each. Also, I was told that the next review would be 6 months from the date I accepted and it's possible I could receive another pre-approved increase then. I've been toying with the idea of turning one of the cards into a line of credit OR combining them and begging to switch to the infinite - I like the look of the card better!

Did you app for the infinite or the gold?

Also, when I got my most recent EQ report I was pretty darned happy to find most everything was corrected. I never received a response to my last dispute so I'm not sure if it was as a result of that or they've just finally got their crap together.

If you call the CIBC number they can pretty much tell you over the phone if you've been approved. It was about 10 days from app in branch to cards in hand at the branch.

#13 Stu.Padaso

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Posted 14 August 2010 - 11:07 PM

I just applied for the Gold. I looked at the Infinite but I figured they'd want to be extra sure of the income requirement and make me jump thru hoops (like Scotia did). Even though I'd qualify based on the Infinite income level, I'm thinking it'll be less hassle for me to get the Gold. In hindsight, I really should have applied for the Infinite. It's the same annual fee, same Aeroplan bonus, and it has much better insurance benefits. Oh well. I never was good at making snap decisions when I'm under the influence. ahahahahah

I'm only interested in the Aeroplan bonus anyways. I don't plan on using the card a whole lot. In a way I'm sort of hoping they give me a crap limit so I can act all insulted and have a better chance of getting the fee waived.

I really shouldn't have applied for it in the first place.

#14 Stu.Padaso

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Posted 18 August 2010 - 09:04 AM

Well, I'm beginning to think I'm approved. I think a denial letter would have reached me by now since it's been 5 working days since they pulled EQ (I already got my mail today) and 8 working days since I applied. No telephone call either, so I think it was a rubber stamped approval based solely on my spic'n'span EQ report.

In a way I hope they "insult" me with a low limit, a la Amex. That will give me some leverage when I call for activation and complain about paying a hefty $120 annual fee for a card I cannot use on a consistent basis. I only want the Aeroplan bonus miles, but they don't know that.

#15 Stu.Padaso

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Posted 18 August 2010 - 02:23 PM

Weird. I just got an alert from EQ in my email and I thought it might be a "New Account" alert, meaning I could see the credit limit that CIBC gave me.

So I logged in. All excited. But it's another inquiry...from CIBC Credit Card SVC. Identical to last week.

Now I'm worried.

(Should I ask CIBC/EQ to remove the 2nd inquiry? Or does EQ know enough to treat it as a single?)

#16 Stu.Padaso

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Posted 18 August 2010 - 03:32 PM

Well, I just got off the phone with CIBC.

The fella I talked to didn't know why they did a 2nd hard inquiry, but he did tell me I was approved for $10k and the card should be on its way. I wish my Dad was around to see this. He was FURIOUS when I got my very first CC taken away by CIBC when I was 18 years old. Oh my, I don't think I ever seen him that mad at me. I wish I could show him how far I've come and the roller coaster ride it's been from a dumb spend happy 18 year old, a confident and successful 28 year old married man with kids, a beaten down practically living in the gutter shell of a man when I was 38 years old, and now really maturing gracefully and confident again at 44.

Anyways, I was mostly curious about the 2 hard inquiries and the fella understood why I was calling. I thought maybe something was wrong. He said he couldn't tell me why they pulled it a 2nd time, but he suggested to let it sit for a month or so and see if EQ merges them into one. If not, I can call them back (CIBC) and they'll forward it to some special department and they'll get it removed.

Great.

So long Scotia Momentum. I don't have room for you in my wallet, but you can still pay all my recurring bills. I'll pick you up again in January when the promotional 5% grocery cashback runs out on my RBC Visa, and you can start buying my groceries again and the RBC Visa takes your place in the night stand.

And THAT'S ALL FOLKS. Cross my heart and hope to die. No more credit card apps. I got all that I need...and more. In 3 years time when my mortgage comes up for renewal everything will have aged nicely, all the inqs will be gone, and I can tell TD what mortgage rate I'm willing to pay.

Edited by Stu.Padaso, 18 August 2010 - 03:33 PM.


#17 Quasei2

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Posted 19 August 2010 - 09:56 AM

Congrats, Stu! Total clean up for all of your past credit nightmares then :( Yay!

Strange about the second pull.

Did you see on the other board about the 50% fee waiver for targeted applicants of the Aerogold?

Also, I wonder if the card they're sending you is actually the infinite. Some of the people who have applied for the gold and ended up with a limit over $10K ended up just receiving the infinite cards.

And I'm not sure I believe this is the end of apps. You don't have a mastercard yet do you? LOL

#18 Stu.Padaso

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Posted 19 August 2010 - 11:57 AM

Congrats, Stu! Total clean up for all of your past credit nightmares then :huh: Yay!

Strange about the second pull.

Did you see on the other board about the 50% fee waiver for targeted applicants of the Aerogold?

Also, I wonder if the card they're sending you is actually the infinite. Some of the people who have applied for the gold and ended up with a limit over $10K ended up just receiving the infinite cards.

And I'm not sure I believe this is the end of apps. You don't have a mastercard yet do you? LOL

Yes, I seen about the 50% annual fee rebate. It's only for those who received the offer, but I'm going to ask anyways and push for it.

If they send the Infinite that would be nice. At least I'll have the travel medical coverage. I hope, if I get it, that CIBC treats it like TD does and you don't have to charge your vacation on the card to get the medical coverage. I'm not sure how the other banks do it, but I know TD covers the cardholder regardless of how they paid for it.

Yes Quasei, this is the end of the apps. I swear. If not I'll fly to NS and I'll buy you lunch.

And I have 2 Mastercards - a BMO Gold Airmiles MC and a Canadian Tire Gas Advantage MC.

Now with this CIBC Visa I really need to sit back and figure out the best way to put my cards to good use.

#19 Quasei2

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Posted 19 August 2010 - 01:04 PM

Woot I'm getting a free lunch! hahaha!

I'm fairly sure that CIBC requires the trip to be bought on the card. That's definitely a nice perk with TD though! I hadn't realized that one. On the Gold you get the medical, but on the infinite you get that plus cancellation insurance which to me is much more important. I'm back and forth on the decision about either turning one of my CIBC cards into a line of credit or eventually combining the two of them and begging to switch to the infinite - particularly since I have 2 big trips overseas next year.

Time to points strategize!

#20 Stu.Padaso

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Posted 19 August 2010 - 10:30 PM

Woot I'm getting a free lunch! hahaha!


Not if I can help it! ahahahaha

Time to points strategize!


Yeah, you and me both.

I need to sit back and think about what cards I'm going to carry regularly and decide which card to use for what purpose.

Edited by Stu.Padaso, 19 August 2010 - 10:31 PM.


#21 Stu.Padaso

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Posted 23 August 2010 - 12:17 PM

I got a letter from CIBC today. It looks like they did approve me for the Infinite. So that's good. And I can expect it in a few days. I wonder if this is why they made the 2nd hard inquiry.

After looking at their site the CIBC Infinite isn't that great of a card considering the annual fee when compared to other Infinite Visa's. Yes, it has travel medical insurance for 15 days and car rental insurance but it does NOT have purchase protection and extended warranty. That's kind of weird when I think of a premium class Visa.

And it looks like it does not have trip cancellation insurance. It has trip interruption insurance, but I don't see where it says cancellation.

Anyways, with the lack of purchase protection and extended warranty I don't know how I'll be able to work this card into my wallet. Or even if I can. It goes into my wallet only if there's a chance I can use it on any given day. I'll have to figure out the value of the Aeroplan points and whether it's more beneficial to me (compared to the Momentum or RBC Cashback) to use it for gas/grocery/pharmacy and possibly other items where the purchase/ex.warr. isn't really applicable...like restaurants.

Don't these Infinite cards report differently to EQ and TU? I thought I read that somewhere but I don't know what it was.

#22 breeze

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Posted 23 August 2010 - 08:10 PM

Sometimes the banks here will let you switch from one card to another - do they have a better card you could try that with?

#23 Stu.Padaso

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Posted 23 August 2010 - 09:52 PM

Sometimes the banks here will let you switch from one card to another - do they have a better card you could try that with?

Well, there isn't a BETTER card at CIBC, just a few different rewards avaiable for this particular lineup of cards. This is the Infinite Visa which I think is the Canadian counterpart of the American Signature Visa.

#24 Quasei2

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Posted 24 August 2010 - 07:46 AM

Hmmm the dividend infinite has purchase security/extended warranty. It keeps all the travel insurance - and yeah you're right about the interruption only. I haven't taken a look at the aventura card at all though.

#25 Stu.Padaso

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Posted 24 August 2010 - 12:16 PM

Well I got the card in the mail today. My oh my what a lovely looking card!

No Paywave, but it's chipped. My PIN comes in a couple days, which is odd. Every other chipped card I have they sent the PIN prior to the card arriving. Except for the new Canadian Tire chipped card which I got last month. They made me choose a PIN when I activated my card online. Then the first purchase done with the chip had to be done inside a Can. Tire store (not the gas pumps). It took a few minutes while inside the chip reader to program the chip (I assume) and I also had to sign for the first purchase.

Anyways, like every other big 5 bank I can change the PIN at any CIBC atm.

Travel insurance does cover spouse and dependant children. I asked if that meant common law spouse and HER children (because that is MY situation). The csr said I better call the number in the brouchure to be sure, but she said "off the record" that she's fairly certain they are covered as well. I'll do that another time. Do you know how that works Quasei?

I'll look thru the documents again some day, but I didn't see anything about extended warranty or purchase protection.




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