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nemo

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  1. I have directly experienced a change in Chase's in policies. Like @DPB, I also have a BK7 from Jan 2011. In 2016 (BK+5), Chase approved me for a United Club card. In early 2017 (BK+6), they approved a CLI. In late 2017 (almost BK+7), they began denying both apps for an Amazon card and CLIs, with recon giving the same reason each time: presence of a BK and changed Chase policy toward BK. They even told me that my situation looked good and I would have been approved before the change in policies. Given that they changed their policy in 2017 (in the tightening direction), I wouldn't be surprised to see them change policies again toward loosening. That would put them out of sync with other lenders who are tightening now (and even in contrast to Chase's tightening just a couple of months ago), but that could be a calculated strategy to gain market share.
  2. nemo

    Capital One

    42k -> 10k with ~200/mo usage and PIF, and some usage every month. I was trying to be as loyal to them as I could, since it's my oldest open card and was my highest limit. The 1.5% doesn't measure up, though, and I've been annoyed at their security barriers that make it hard to get into my own account when I'm traveling. I'll keep the card a little longer until my BK drops off my reports, and then probably kick them to the curb. The limit was a result of combining cards, so it probably isn't achievable again.
  3. Sometimes if I think a question is too invasive like they might be fishing for information, of if I just don't like the question, I'll answer it wrong on purpose. I usually pass anyway.
  4. Gotta laugh about this one. That's pretty darned arrogant of Discovery. Discovery, I've had Amex cards. Amex cards have been friends of mine. You're no Amex.
  5. Reminds me of an old Saturday Night Live sketch with Ed Asner. "You can't put too much water in a nuclear reactor."
  6. People are worried that the US dollar will lose its reserve status to China. Crypto is more likely.
  7. This could be helpful to a lot of people. The way COBRA works, you get to decide after some time has passed whether you want to be covered, and the coverage is retroactive. That means people can bridge the time between jobs by delaying COBRA as long as possible, and then if they get a new job without ever having health expenses in the mean time, they can just skip having health insurance for the time between jobs. Of course, insurance overall is more expensive because of it, but it can help people who are having difficulty due to job loss.
  8. The article has been revised. It seems the first time around, they added up 7.21% of auto loans, plus 7.03% of personal loans, plus 6.79% of mortgages, plus 3.57% of credit cards, and came up with "nearly 25% of all loans" in trouble. That was quite a large mistake for them to miss before it was first published. They really wanted it to be a sensational story. Even the correct numbers are unfortunately high, though.
  9. I wasn't in forbearance, but I once logged into WF and found two extra retirement accounts I hadn't applied for. Turns out a new employer at the time had created the accounts without telling me they were going to, and without telling me they would be at WF. Then WF matched them up to me using my social security number, and added them to my online account so they appeared when I logged in. It all felt a little spooky at the time.
  10. Oh, baby. Oh, baby. Then it fell apart. It fell apart. . . . Moby -- Extreme Ways
  11. This thread made me curious, so I searched through my old e-mails. Every Chase security code I've ever received since I first got one of their cards more than four years ago has started with 4.
  12. I find it somewhat counterproductive to pursue resilience anyway, even if there were a way to measure it. Resilience just means people get back to the same place they were before, which might not even be all that desirable. It would be better for people to pursue, and lenders to seek out, anti-fragility, meaning that people come out of a shock better off in some way than they were before. Example 1: Someone uses market volatility as a repeated series of opportunities to buy low and sell high. Example 2: Someone takes advantage of a period of unemployment to learn something new that will improve their career. Both of these examples require keeping extra cash around, so maybe that is a good start at measuring the capacity for anti-fragility. The actual practice of it depends on the person's motivation.
  13. I used to worry about this sort of thing. Now that I only apply for credit when I don't need it, though, my attitude has changed. If I get declined, I will try a recon, but beyond that, I don't care. If they reject me, they are losing the business of someone who will never repeat his past credit mistakes.
  14. For purchases of $5 or less, I usually pay cash and get change. Sometimes that would happen anyway because of minimum credit card purchase amounts.
  15. I sometimes use self checkouts to get rid of excess change. They're missing an opportunity.

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