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About ishmael109

  • Birthday May 10

Profile Information

  • Location
    In front of my Computer!
  • Interests
    Fine timepieces, vintage guitars, playing and writing music, travel.
  1. Congrats! It's a great feeling, and easy to get used to. I had been payment free for the past 12 years until this past summer, when my Subaru with over 235K miles finally died. Repairs exceeded what car was worth, so I found a great certified pre-owned vehicle, and paid cash. I am done making payments on vehicles.
  2. I agree with what has already been posted. One thing I will also add is that when negotiating, focus on the price of the vehicle, don't focus on the monthly payment. My last car buying experience was pleasant. I knew what I was pre-qualified for, and what interest rate I would receive at my credit union. I also knew exactly how much I could afford to spend on a vehicle to get my payment to where it needed to be as I did the math ahead of time. The F/I guy at the dealership actually was able to beat a very competitive Pen Fed interest rate I qualified for with a connection he had to a local credit union, so the credit inquiry was worth it. Good luck!
  3. I went through the recession of 2008 unscathed. No credit line decreases, or adverse actions. I have always maintained a perfect credit history. No lates, or negatives of any kind. I wasn't carrying any balances on cards at this time at all, which might have played into my favor. My parents, who have no negative history, were balanced chased by barclay card while paying down a balance of about 5K.
  4. Try again.. Have had this Discover line for over 2 years. Nothing with them for a year and a half then took a hard pull cli recon in December 2014 to get any movement (very little). Nothing more four months since then three sp cli's starting March 29 (17 day intervals). What may have happened to you happened to me with another bank. I mistyped my income during the sp cli request and realized something else was wrong after I received a letter stating debt to income with over $180K and less than 1% reviloving utility reporting for a very long time.. Like you, have higher average credit lines and a relatively low mortgage at $1300 (and two open autos) with scores all above 760's. Only time I'd been declined by this lender and I have more than one account.. After I received the letter, I logged back in thinking something had gone wrong in the request related to income and repeated the sp cli carefully this time and got an instant approval. Thank you!! I tried again today, and got bumped up 1,500. They mistakenly had my monthly mortgage payment recoded as being 11,500!! Corrected this on my profile and it worked instantly.
  5. My lowest FICO is 815. No CC balances, Pay in full. Never had any negatives on my credit reports of any kind. No consumer debt aside from a modest mortgage, and I can't get them to increase my limit above 15K. I tried for fun with the "Luv button" but oddly enough, I was denied with reason being "DTI too high" Now, I think this is a computer generated "check a box" excuse, because if they actually reviewed my credit report, it's clear that my DTI is very low considering the amount of money I earn, and the small mortgage payment I make. I have had the card since 1991. My average credit line is 25K across most of my cards. Discover is my lowest at 15K. I don't "need" the credit, and I don't want to deal with the hassle of speaking to them on the phone, but this card has always puzzled with me.
  6. What is your Discover card limit today? My first card was Citi in 1989, also in college. I think it was an offer by mail. I don't remember the initial limit, but it grew to $15k+. Unfortunately I defaulted on it in 2007. :-( My Discover limit is 15,500. It hasn't grown as large as my Chase from the same time period, but then again, I'm OK with this, as I would never really use that much credit anyway. Cards I got as recent as 2001 have larger limits than Discover. My impression of Discover is that they are bit more conservative, if not stingier, than others.
  7. I applied for my first card in 1990 at the student center of my University. It's a Discover card, that I still have. My limit was 2K at the time, and it's grown with me over the years. A few months after acquiring this card, I went to the Lollapalooza festival and applied for a Chase visa. They started me at 5K, and now this card is at 50K. The only thing unusual about this timeperiod, is that I clearly put on the applications that my income was about 75-100 per week, and I was approved. I don' think they would approve anyone so easily in the current credit climate we are in now, much less with limits of 2K and 5K. I have kept these cards in great standing, and they have grown with me over the years. I don't think I would have limits as high as these if I applied for credit today, even with perfect credit. Over the years, I have avoided applying for other Chase products I've been interested in, because I firmly believe if a credit analyst took a look, they would cut that 50K limit.
  8. I've had an Amex since 1991. It was one of my first cards I obtained in College. I converted it several years ago from a Gold, to a no fee Blue card. I've never had any sort of issue with Amex, and I've spent alot of money with the card and had big purchases go through. I do know other people personally who have suffered adverse actions, but most of these individuals have had high utilization at the time with other creditors. By the grace of God, I've never had to rebuild my credit, so maybe they are stingier, or give folks a tougher time who are rebuilding? I have no idea honestly. In 2006, I did have very high utilization myself following a medical set back. I have no idea why they never cut my credit line, etc. One person's card for the sock drawer is someone else's "go to" card. It's great to have choices.
  9. My spouse and I did not get serious about putting $ away, and cutting spending until early 30's. There really is no secret to it, other than we cut spending on anything not necessary. Instead of eating out 3x per week, we cook more at home, and choose 2 days per month where we splurge. I also gave up on some expensive hobbies (buying new guitars, timepieces, vacations, etc) When we started this journey, I never thought I could stick with it, but I learned to want what I actually have, vs always wanting something newer, better, etc. I bought a 1 bedroom condo in 2000 for about 82K. I have about 2 months to go until the mortgage is paid off. So many people feel we should move to something bigger/better more spacious, etc but we are happy with our low taxes,low common charges, and soon to be no mortgage payment. Instead of paying a big mortgage, we are living modestly, and putting the $ into retirement, and savings. We have no consumer debt outside of the mortgage. Believe me, it was not always this way. We had to dig out from a big hole to get here. If I can do it, andybody can
  10. I only use the card for gas purchases, so I'm staying with the 5%. You have to really weight it, based on what you want to use the card for.
  11. Yes, saw the notification when I logged on this morning. I have the Citi Simplicity card. This is the second time in the past year this has happened to my account. The last instance that occurred in February happened at one of their overseas call centers. Someone charged almost all the way up to my credit limit at businesses in India and China. I was told this was an internal breach as well. I am thinking of cancelling the card at this point. I have never had this happen with such frequency with any of my other banks.
  12. I have 3. One of them is a Macy's Amex. I have an Optima card that I got in 1995 that I keep for the age, and I charge my insurance payments to to keep it active. I also have a "One" charge card that I use regularly. I like Amex. I've never had an issue with them. Everyone's reason to keep multiple cards is truly personal/unique to their own credit situations.
  13. Congrats, and enjoy the card! I find the rewards add up fast!
  14. Just don't give them access to your social security #, etc or sign the papwerwork giving them permission to pull your credit. I never buy cars with dealer financing. I always make it clear I have financing lined up, and don't want my credit pulled. Never had an issue, but everyone's situation might be different.
  15. You rented a vacuum cleaner with it? Carpet cleaner. I knew something sounded off when I typed it.. After all, what's the worst AmEx could do? An F/R, right? Carpet cleaner, liquor stores, shopped at Walmart, etc. If they decide to pull a financial review, bring it on. I have the income to support my credit lines, so I'm not worried.

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