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Carnut

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  1. Hello All! Going to do an App spree in a couple of weeks and would like to target cards that have the most money back for signing up with their card, for example Chase Freedom has $150 bonus if you spend $500 in first 90 days. Don't want any that have a annual fee. I will be spending about $10k in the next couple of months upgrading our new home and I have the cash but I thought it would make sense to get some new cards to take advantage of the sign up bonuses. I don't travel at all anymore so not interested in travel rewards cards that cannot easily be converted to cash back. This is what I currently have in my wallet/drawer: Chase Amazon 5% back on Amazon purchases Cap 1 Quicksilver 1.5% back on everything Penfed Cash Rewards 5% back on Gas BofA Cash Rewards 2% back at grocery stores Barclay Card Rewards 2% back on utility bills Discover It 5% rotating categories AmEx Blue Cash Rewards Here are the cards I'm targeting on App Spree: Chase Freedom $150 bonus Spend $500 in 90 days Blispay 2% back on everything Lowes 5% back on Lowes purchases Cap 1 Venture 1 $200 bonus Spend $1000 in 90 days HSBC $150 Back Spend $500 in 90 days Wells Fargo Cash Wise $200 bonus Spend $1000 in 90 days Cap 1 Savor $150 bonus Spend $500 in 90 days I have clean reports with all Equ, Ex, and Trans all in the mid 700's. What cards am I missing to go after here?
  2. Well, there's good news and bad ... The good news is that it took about two days for it to hit via electronic transfer. The bad news is that EVERYTHING else after that is totally FUBAR. Their personal loan department is staffed with purple chimps. Any advice they give you will be wrong. At the first sign of issues, ask for a supervisor. They are generally better and actually speak English, but have an attitude problem. First of all, if you have any issues their loan department is only available during normal business hours and even then only by phone. There is no online support. Then there is the loan repayment method. If you have some extra cash and want to make a payment, payments are not allowed until after your first loan "invoice" is issued. They call monthly statements "invoices." Prior to your very first statement, it is not allowed to make any electronic payments. Invoices are issued and you have a certain number of days to then make payment -- just like with a credit card. Your first invoice should be issued about 4 to 6 weeks after your loan was approved. Unless it's not 4 to 6 weeks and more like 12 to 15. Yeah, their system is so fooked up that it took them 3.5 months to issue the first invoice. Once your first invoice is issued, you can begin to make online payments as often as you wish without waiting for subsequent invoices. If at any time you get the idea of mailing in a payment, don't fooking do it! The payment address they give you is bogus. The mail payment address they give you is a PO Box in Dallas. So, if you live in CA, it takes your check about 3 days to arrive at the Dallas POB, right? Yes, that's right. But remember the key words "purple chimps". These fooking koonts don't process your payment in Dallas. Or anywhere in Texas even. From Dallas they forward the physical check to another address that serves your location, which, if you are from the west coast, is LA. Add another 5 days to the process. Once it arrives in LA, it takes them up to 5 more days to open the envelope, remove the check, deposit it and post it to your account. And by "days" I mean business days. Generally I've found AmEx to be a notch above the rest with outstanding customer service. I'm thinking their personal loan business is outsourced to First Premier. I laughed out loud! So you didn't have to make your first payment for like 3.5 months? Thanks for the warning! Thank you for checking, that sounds reasonable!
  3. I was just approved for a personal loan from AmEx to do some consolidation and was wondering how long did it take for the direct deposit of the loan to hit your Bank account? They sent me an email that if I don't receive within 2 weeks to give them a call haha! Hoping it's not going to take 2 weeks!
  4. HAHA, 5 minutes! Ok cool, I'm planning an App Spree in a month or so and I will put it on the list, thanks!
  5. I combined the limit from my Venture One to my Quicksilver a little over a year ago which in turn closed my Venture One card. I was wondering if I could now go back after a year and reapply for the Venture One to take advantage of the initial bonus and to eventually combine the limit to my Quicksilver again? Good or bad idea?
  6. That would be great if they did because for some reason my FICO 5 is at 735 and my FICO 8 is 688. Usually mortgage scores tend to be lower for most folks but mine are quite a bit higher across the board in comparison to all my FICO 8.
  7. I plan to use DCU to purchase a used car and was told by their CSR that they use Equifax FICO to determine approval but she didn't know which FICO model, whether FICO 8 or FICO 5. I have a savings account with them and they give me a free Equifax FICO 5 score (mortgage score) each month so I assume they will use the FICO 5 but wanted to ask to see if anybody on here knows for sure based off their loan approval?
  8. I have 9 total credit cards. 7 of them have a a balance of $0 on them and two of them are at 29% utilization on each? Would it be better to balance transfer from one card to the other so 8 cards are at 0% but the one would be at 50% utilization or would it be better to keep as is? Or would it be better to disperse the balances across multiple cards so no card is over 20%? For example, transfer part of the balances from the two cards to another 3 so now I would have 5 of 9 cards with ~20% utilization and 4 of 9 with 0%? I know it would be optimal to have 0% across all cards or just $2 on one of them but I can't do that right now unfortunately.
  9. Hello All, I'm finally getting close to signing a contract to build a new home with Fulton Homes in Arizona. I plan to sign the contract in mid-June to start the build process. I asked the Fulton Rep some questions about the mortgage application process and everything sounds pretty straight forward but I still have some questions from the experts here. The way he explained it was that I will have to get pre-approved around the time I sign the contract at the beginning of the build to make sure I qualify for the amount the home is going to cost once built but I wouldn't actually be closing on the loan until the build is complete, which for my home would be about 8-9 months after signing the initial contract to start building. Question: So I would be taking two hard pulls total for this correct? One for the initial pre-approval to start construction and then another pull 8-9 months later once the build is complete to actually take out the loan for it? I'm currently sitting at Mortgage FICO scores that I got from Myfico of: FICO 5 - 750 FICO 4 - 740 FICO 2 - 753 During the 8-9 month build time of the home I plan to buy a used truck which I will be taking out a $30k installment loan for. I currently have no installment loans and I have zero debt so the payment on the truck will not affect my DTI much because I will still have quite a bit of room for the amount of the loan I plan to take out. Question: Will I see much of a hit to my Mortgage FICO scores because of the new installment loan?
  10. I got an email from Nasa last week offering $125 bonus if I open a Premier eChecking account and direct deposit $500 to it monthly. The account is free as long as I keep the $500 direct deposit going or else it's a $8 a month maintenance fee. I can afford to dedicate $500 a month to them on the account then I would just transfer the money to my savings account with them. Could I just close the account after receiving the $125 bonus? Are there any drawbacks for doing this? I know checking accounts don't show up on your credit file so there won't be any impact there, right?
  11. Just keep pushing!!! I will be waiting till June as I'm currently working outside of the country and won't return to the USA (Home) till June. Hopefully interest rates don't climb too much by that time. Thanks and keep it up on your side!!!
  12. Just wanted to share my success in getting my scores where I wanted them to get the best mortgage loan rate offers. I bought my 3B report one year ago to see where I was at and set my goal to turn my scores around and get them to a 740 middle score by June 2017 which is when I plan to buy a house. There was no great magic that I did, just the typical removing of negatives on my reports and getting my revolving balances down to $0 with one card reporting $2. I had some public records and lots of paid collections reporting. I still have 1 negative on 2 CRA's and 3 on another but my scores are where they need to be 6 months ahead of schedule! Just wanted to share this to encourage those with low scores that it can be done fairly quickly if you stay the course and not get too discouraged too early. https://pix.sfly.com/n_yhDi https://pix.sfly.com/JXsONa
  13. Thanks for both perspectives! Thanks cv91915 for the info too! My income is $90k a year. My wife does not bring anything in.
  14. If you borrow $200,000 at 4% you will pay less than $8,000 in mortgage interest even in year one, and it will be less every year. I've pasted an amortization table below showing the cumulative interest over the first 12 payments. In this example, if your property taxes are ~$4,600 or less (which should cover a fair amount of the US on a ~$200,000 house) and those are your only deductions, there is zero tax benefit to home ownership for a married couple compared to taking the standard $12,600 deduction. This isn't my opinion, it's just math. I also stated that the tax savings in and of itself wasn't a reason to pay interest, and I stand by that. The tax consequences are just one of several factors that one should consider in making an informed decision. I never used the word "standard" in regard to the 20% down payment, I used the term "normal," which still isn't the best word, but it really doesn't matter what it's called, it's going to be the least expensive financing option by a considerable sum. Just because you can get approved for something doesn't mean it makes good financial sense. This poked my interest. I'm about to buy next year and my purchase price should be about $325,000 and lets assume 4% rate on a fixed 30 year conventional loan with 5% down. What should my interest paid for the year be? My property taxes should be at least $2500. Thanks for digging into the tax deduction side! I was just assuming that I would be able to have a tax benefit for paying interest on a mortgage at all, didn't realize I had to hit a certain threshold as well. I'm married with 3 kids by the way if that makes a difference.
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