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NorCalR1

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Everything posted by NorCalR1

  1. Yeah I agree, nobody has to justify their spending habits to Suze or live their lives according to her (e.g. use your daily coffee spend to invest in a roth IRA), or anyone else for that matter. That being said, I see where she is coming from, and if that advice works for some folks, good for them. If that starbucks coffee everyday is what they want, it is nobody's business to tell them they shouldn't.
  2. Yep. As usual, the banks will be well ahead of the curve and take action before their customers know whats coming.
  3. A couple weeks ago, Citi declined at local grocery store, didn't have time to call and find out why, then used it several more times with no problems. Then called to follow up and they couldn't say why it was declined and there was no problem. Pretty rare that transactions are declined, but it does happen. Goes to show to always have a couple backups.
  4. Should not be a bother. There is competition and AMEX is not the only credit-card issuer out there. They (AMEX) need us (consumers) far more then we need them. Let AMEX do what they will. We as consumers should not care one bit. We have choices.
  5. Something is missing here. The hotel had to have had suspicions long before it got to this point. Why didn't they insist on presenting a valid card after the 2nd night. I find it hard to believe there is verbiage in the HHonors program that allows this. Just doesn't make sense.
  6. Looks like that was specific to German user data metrics. Unsure whether the same could be said for US population. Actually, it might be reversed. More concerning is the use of banking behavior (checking vs. savings balance) and use of social media as credit predictors. May not be feasible or justified now, but the mere fact they are even discussing it means it may be reconsidered in the future if data analytics can validate its usefulness.
  7. This is just a minor setback, a miss on your wife's part. The initial hit to a credit score when the derog first appears is huge and no doubt it is depressing. However, it will quickly begin to recover as time goes on and more positive information is added (monthly on-time payments). You can write a goodwill letter, explain the situation and ask for a deletion, it doesn't cost you anything and always worth a try, but based on what you wrote, I don't think you'll get it, but try nonetheless.
  8. While I like what Experian is doing here; to help consumers with thin files, I am very uncomfortable with the level of access being requested, that is, linked checking/savings. Any data breach or data exposure will have severe consequences for the consumer who ultimately will bear the responsibility. There are too many data security incidents happening, and the people impacted are notified too late. That said, I can see where their is interest in signing up for this. But I will not participate.
  9. I will stay clear of Wells Fargo. No interest or need to do business with them. The shake out from the business practices is almost unreal.
  10. Well, its understandable why banks are doing everything they can to get ahead of any stresses to the economy. Their own data and analytics is probably telling them much more then the fed is. So this is not a good sign and time to settle down and not draw any attention. Most people have a very clear memory of the last recession and the corresponding housing crisis and are not one to repeat a mistake. But sadly, there are still some who do not study history and learn from it.
  11. Congratulations hegemony. Question: Is your overall BofA credit line exposure over 150K after this increase?
  12. Not just college; although absolutely true that it is getting further out of reach then ever before, and at top tier public universities, good luck on getting your classes in order to graduate in 4 years. In Northern California, you are also dealing with sky-high housing costs, that is, if you can even find it. The economy is good here, but also hyper competitive. You need to stay very motivated, be highly educated, and constantly keeping your skills refreshed and the learning never stops. Once you fall behind here, you will never catch up again. Millennial's are well off, but they are working very hard and making alot of personal sacrifices to survive. It is not easy.
  13. Oh no. Let me check and see if the FICO score is still available.
  14. Too scared to try. Hope to see no more "stolen" existing lines to increase another line.
  15. I also get this message. Like you, I have good limits on Chase cards and there is no way that they will be eligible for any increases just based on income. If folks don't have high limits on their Chase cards, then I would go ahead and update your income. It is low risk. If people already have high limits, the risk is just too great that good intentions (possible increases by updating income) will be met with unintended consequences (likely credit line decreases).
  16. It is possible that the closure request never got to credit operations, or it is waiting for some administrative action. For the time being, looks like you are directly benefiting from it, so yeah, why ask why? Just remember though to keep an eye on it as it may close with unexpectedly. You can always call or email to follow up.
  17. Can't specifically speak to the Radisson rewards card. But I've been with US Bank (card relationship) for almost 8 years. At time of app, scores were in upper 600's with no derogs. But had alot of cards with balances, albeit small/med, but got approved for 5K and it has moved up to 15K since (no inq's) but stuck there. Haven't asked for any increases. APR is really high but rewards are not too bad. Wait a couple months after the payment posts and balances are down. Good luck
  18. Thanks for posting this. Interesting read to help understand what happened, and how.
  19. Well, Cathay Pacific, EVA, and an added bonus; Hainan is very tempting. I hate capital one, but this one is worth investigating if the numbers work out.
  20. I think it has more to do with having a thin credit file. Only 3 cards and not having a mortgage or HELOC is not helping. You can see that reflection in that credit history length is rated as "fair". Back to what CV asked though. Was there a reason given for the denials?
  21. I got bit by that too on an MBNA card transferred when BofA bought them out. Never able to get it back. However, it was a lesson learned. Ever since then, I've never initiated a credit line increase. It is a good day when I can keep what I have.
  22. I've noticed anywhere between a 15-25 point drop when I carry balances on 6 or more cards. But when after the updates, the scores go right back up again where they used to be. The holidays are here and so is spending, so this is expected, but there has never been any adverse action as a result, so no big deal. A strong credit file offsets these annual trends.
  23. If the credit card issuers have doubts about financial solvency of their consumers, no one is stopping them from lobbying for legislation for new laws to prove income before issuing unsecured credit cards. All goes back to the core issue that banks are in the business to make money, and credit cards are one way to generate revenue. Without customers, they wouldn't be as profitable as they are.
  24. I get these offers sometimes, but not very often, probably because I use the card pretty frequently. It's a nice perk and I do take advantage of it whenever it is offered.
  25. It's not a bother at all. It's a choice. Pay stubs, tax returns, w2's, etc, are not standard industry practice for credit card issuers. As such, I would take my business elsewhere. That's just me. There is nothing that AMEX can offer me that the competition cannot also offer. Frankly, they need us (consumers) a lot more then we need them and unless or until proof of income is required by law to be provided to credit card issuers, there is no need to provide it unless AMEX is offering something that is of value that no one else can. OP will need to make his/her decision here.

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