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About hdporter
- Birthday July 16
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Marietta, GA
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They Call Me "HD"
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4 Synchrony cards in our household: CareCredit and Lowes for me, Amazon and Verizon for DW. Avg card age is something like 7 years. No problems and holding these cards has largely been beneficial. Based on this experience alone, I'll suggest those more likely to experience problems with the issuer have middling 640-720 FICO scores. It feels like Synchrony is a nervous lender when modest to moderate risk is on the table and engages in questionable risk management tactics that keenly differentiate them from "prime" lenders.
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hdporter reacted to a post in a topic: OMG Do I Hate Discover
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shifter reacted to a post in a topic: Has anyone successfully got their interest rate lowered?
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Has anyone successfully got their interest rate lowered?
hdporter replied to supern8ural's topic in Credit Forum
In a post yesterday, I pointed out that even a 14% APR credit card that doesn't charge cash advance/balance transfer fees is valuable in terms of personal liquidity management. Speaking to @shifter's post, you likely can do better. I don't name the CU which I've been a member of for 40+ years because it's a local, relatively small operation. That said, their standard non-rewards credit card has a fixed 8.9% APR, and their current bt promo is 12-mo @ 3.99% (no bt fees). This is an example of what you likely can latch onto with a bit of effort ... -
Has anyone successfully got their interest rate lowered?
hdporter replied to supern8ural's topic in Credit Forum
If your CU doesn't charge a cash advance fee, then that 14% credit card presents desirable liquidity flexibility. For example, in a pinch you can draw funds for a couple of weeks at a cost of about 0.6%. And certainly it's a lower cost and more flexible option when it comes to the contingency that you're attempting to cushion by lowering your other card standard rates. -
shifter reacted to a post in a topic: Has anyone successfully got their interest rate lowered?
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Has anyone successfully got their interest rate lowered?
hdporter replied to supern8ural's topic in Credit Forum
Reducing a credit card APR to 19.49% constitutes a "win" only if you intend to revolve a balance at that rate. (Otherwise, it takes on the guise of "self-gratification".) Such a win truly represents a Pyhrric victory. -
Two comments ... -- It totally escaped me that BCP rewarded up to $6k of online merchant transactions with 3% cb. I'm flummoxed! (Anyone know if this was added at some point, or if it was intact from card creation and I was just oblivious?) -- CRA open date will reflect actual open, not "Member Since" date. The ship on automatic Amex age sailed quite awhile ago. I'm sitting with two non-fee Amex cards, both of little use and not eligible for conversion to a useful card type, both of which benefitted from Amex backdating when opened: CRA history reflects 1982!
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Understood, which is why I raised the prospect of applying for a second card to take advantage of 3% on online purchases. Stab in the dark, of course: I don't know if BA would issue a second account on the same card product. And, I don't know how much you spend on online purchases. But the crux of my reply is, foremost, let your spend, available premium cashback rates, and one time SUB's drive your search for credit. I'm not clear on your juxtaposition of "Disney +" and "3% online", but thar wouldn't have struck me as a prime candidate for you next card acquisition. Still, if it works for you, great.
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shifter reacted to a post in a topic: AmEx advice needed - or another card?
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So, I favor growing your card portfolio "organically". Add a card because it has distinct appeal in terms of rewards and/or sign up bonus. This best ensures that you'll actually use the card actively which, in turn, is the best means to future CLI's. Re Amex, Blue Cash Everyday is just okay. If you're reasonably confident you'll do at least $4k in grocery spend, BC Preferred is the way to go. You might pick up a couple of streaming bonuses with it. On the note of inquiries, I would never shy away from a credit app out of the concern of the related inquiry. and if excessive recent credit inquiries on a single CRA is a reasonable concern, take it as a sign that you're simply applying for too much crap. The card I think everyone should seriously consider is a BA Customized Rewards, with online shopping as the category opted for 3% cb. I suppose we just buy too much crap through the mail but; whatever the case, nothing is changing that anytime soon. I'm not sure if BA permits holding a second Customized Rewards (I suppose not.) Bev and I each have one set to online shipping, getting us 3% on up to $5000/qtr.
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ShawnPY1972 reacted to a post in a topic: NFCU Declined Auto Loan with TU FICO = 846
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NFCU Declined Auto Loan with TU FICO = 846
hdporter replied to Allkindabroke's topic in Credit Forum
To be honest, I don't recall if a 4506t authorization was part of the DCU app process. But let me clarify one thing: Lenders who request a 4506t typically aren't looking to perform a financial root canal on you. In this era of easy image manipulation, anyone can doctor the financial docs submitted with a mortgage app. Lenders look to validate submitted docs against wagesl/income reported by payers to the IRS. Lenders will largely disregard other return content. Under most circumstances, I wouldn't let a 4506-t request deter you from working with a lender, even if you prefer no one delve into tax deductions and other return data. (* Even were it the case that you're delinquent/slow in a recent return, that won't trip up a lender who filed a 4506-t, by itself, so long as the IRS isn't billing you for unpaid taxes assessments and/or penalties. The lender just wants to validate the income on your app.) -
MarvBear reacted to a post in a topic: Ridiculous Rejections
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Who the hell pissed in your Cherrios last month?!
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Do you really want to muddle the discussion with facts and your experience?
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hdporter reacted to a post in a topic: Collections, but Comcast didn't let me pay.
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150%+ LTV Bank/Financial Intuition Options
hdporter replied to cyberleam's topic in Automotive Financing
It's unclear what your overall financial picture is but, generally speaking, I would expect that the lending criteria and rate applied to such a loan would be equivalent to what you might face were you to simply consider seeking an unsecured loan to clear your "under water" negative equity in the vehicle, and then separately financing 90%-100% of a new vehicle cost. Truth is, it might be easier (in terms of available lenders and loan options) if you went that route instead of trying to accomplish through a single loan transaction. -
NFCU Declined Auto Loan with TU FICO = 846
hdporter replied to Allkindabroke's topic in Credit Forum
Pretty much the standard items (based on our mortgage experience over 30+ years). This includes: -- Income documentation: current payroll stubs and past 2 years w-2's. -- 3-month account statements for cash to be used as down payment, or any other large account payoffs required in advance of closing -- Property appraisal. -- Evidence of a paid home owners policy, in advance of close. -- (I would expect) Brief written explanation of recent credit activity: inquiries, new accounts, past delinquencies. Is there any aspect of possible DCU mortgage document requests with which you are particularly concerned? -
You solidly nailed that conspiracy.
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hdporter reacted to a post in a topic: OMG Do I Hate Discover
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Collections, but Comcast didn't let me pay.
hdporter replied to FixTheProblems's topic in Credit Forum
@WirkKarl: Glad to see some new, intelligent "blood" here A quick observation: most older, dormant threads are best left without further comment. That's particularly in the case where the original posters issues have since been resolved. Even if it's the case where there is some strikingly new information to share, it's best handled through starting a new thread ... this will ensure that people don't have to skim through the old thread in order to digest your update, ensuring the best odds that others engage with your post. You have a sharp mind; I look forward to hearing from you further. -
Btw, not sure why you dissected their FICO scoring report. The identified variables are NOT presented as explanation of why they won't finance your purchase, nor why you weren't qualified for such financing. They're simply sharing the FICO score reports that they pulled, which like EVERY scoring report, identify the factors that precluded you from attaining a higher FICO score. Obviously your scores are impeccable.