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waralpha

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  1. I didn't read through all the recent posts, but I didn't see anyone confirm the date for the cap of the bonus $25 on $100 redeemed to once a year. I was on the phone with a CSR just now and she seemed to be reading from an info sheet that stated that the cap of the bonus goes into effect July 1. She also had the impression that any bonuses earned and redeemed before July 1 will NOT count for your yearly bonus. Get your bonuses now guys.
  2. Request for Opinion: Friend opened 2 new accounts in Jan/Feb, 1 in August. These are the only inquiries on her reports( Jan/Feb are EX, August is EQ ). Opinion on if she were to apply now for Cash+ if she would get denied on to many new accounts? AAOA: 2 yrs 8 mo. Oldest Account: 5 yrs Util%: 10%
  3. Another option you may consider, but also probably harder to get considering your DTI would be a line of credit at a bank or credit union. Pay the line of credit to zero every month. You'll end up being charged interest from the day payments posts though, but your interest for that duration would hope to be net less than 1%. If you can somehow swing it though, the interest rate on the line of credit may be lower than your current cards as well, so you can use that in the same way you're looking at taking out a consolidation loan. If you were to go this route... Setup line of credit to auto-pay minimum to all your other accounts. (No late payments in theory anymore) Manually apply extra payments to whatever account you are trying to pay down that month. If not, just to make it easier to do payments, my setup has all my accounts with due dates either on the same day, or a few days off of that target date, then pick a day each month I do all my payments at once. I enter the payments into excel as I go, so I make sure I didn't miss any. Good luck with whatever method you choose.
  4. I currently have a loan with lending club that started in November 2011. I also got a near top grade APR of about 9.7%. I would have to agree with breeze to see if you can get a CU personal loan though, the rate may be lower and you probably won't have to wait for funding. I do however note that I only got softed by TU, there was no hard that showed up later. Also, it is only reporting to EX and TU, EQ record was not present, which was nice when I applied for Penfed last month.
  5. I selected PenFed over DCU as my last app for the year for the gas card and car refi. That is of course unless there is some crazy cannot turn down deal.
  6. I know it's still better than the standard price w/o a coupon, but I can still be sad
  7. Guess you got a more knowledgeable person in UW than I did. The 2 underwriters I talked to said I had to wait 6 months for the cli. That's why I went through customer service instead(CSR said the UWs aren't all very knowledgeable on policy.. which I found odd). I'd just let it run and see if the CLI is granted this way. Just as an FYI... you're not speaking with underwriting. Everyone here has been speaking with a CSR in some form. Underwriters with U.S. Bank are not allowed to speak with clients. Ok then I shall clarify, speaking with the CSR in underwriting, instead of the regular general CSRs. Would explain why his CLI request in underwriting had to be submitted for review, and not done on the spot.
  8. Guess you got a more knowledgeable person in UW than I did. The 2 underwriters I talked to said I had to wait 6 months for the cli. That's why I went through customer service instead(CSR said the UWs aren't all very knowledgeable on policy.. which I found odd). I'd just let it run and see if the CLI is granted this way.
  9. My steps to USBank FlexPerks to Cash+ fix: Call CSR. Tell them you want a product change from the FlexPerks card to Cash+, as the Cash+ rewards program is the only way you would be using the card. Tell them to facilitate this, you would like a CLI to the minimum requirement for the Cash+(Visa sig min requirement is $5000). They may tell you that you have to wait 6 months. You will need to somehow get transferred to a CSR manager, or they may have one do a call back to you, either way works. If the CSR doesn't want to work with you, call back for another CSR(calling back too quickly may get you the same CSR, this has happened to me before). The CSR manager can at that point, either put in the special CLI request to underwriting for you, or forward it to another manager who will call and talk to you to put the request in. If the CLI request is approved, you will be required to wait 32(yes 32) days from card activation to put in the product change request. Make sure the fact that your intent for the CLI is to get the Cash+ conversion after approval is notated on your account, otherwise the manager at the next step may not work with you. At or after the 32 day mark(I did 35 just to be safe), call back, and ask for the product change, make sure they see that this is the reason you got the CLI to begin with so early and that this is the only reason you got the CLI(to get the product change). They will then have to send it to another manager to get special exception on your account to do the product change. If successful, you will see the product change in 7-10 days(I got mine in 5 days).
  10. I have 1 Citi card pulling EQ, 1 pulling EX, and all self-initiated CLI requests have been all SP for me except for the one time long time ago when I asked twice in one day (don't ask why, cause I don't know why I did that myself).
  11. This is under the assumption that you are only going for cash return, and no other sort of redemption Platinum Rewards: You get points on this card. Pros: Currently, points are translated at 1 point : 1 cent ratio(this is good). Conversion for spending, only on gas, is the same. Of course if you put grocery on this card also you get bonus there too. 5000 + 20000 point sign up bonus Cons: Point conversion rate CAN change if they so choose to later on. Requires minimum points to redeem. Cash Card Pros: 5% cash back on gas, automatically given as a statement credit every month Assumption here is that the cash back rate does not change, as that is a total program change, vs the Points the value of one point can change without changing the card details itself. Cons: No sign up bonus No grocery bonus All other spending is worth only 1/4 the value of all other spending on Platinum rewards My Conclusion: I had this exact same dilemma. I chose the platinum rewards card solely because of the sign up bonus. $250 worth of points is far greater than the convenience of having auto redemption in my opinion. Everything else does not matter to me on this card, since I will only use this for gas. I think this is still the same decision for you - convenience or sign up bonus. It has been talked about on the forums that they may just do away with the cash rewards card and convert everyone to platinum rewards sometime in the future. If this is the case, might as well get the sign up bonus now. They are giving the bonus to people converting their cards right now, but who knows if they will later.
  12. waralpha

    PenFed

    Los Angeles
  13. Got my account number. Auto Refinance was approved by instant decision. Credit Card App referred to loan officer.
  14. Thanks, I'll call during my lunch break.

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