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Blakes quest for 1 million in credit lines


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He's busy dealing with the BK.

I'd pay money for an update 👍

My middle name is Schadenfreude

I have the Power cash rewards from Penfed. They just sent an email asking me for 2 years tax returns and I am not applying for anything new. I have a credit card with zero balance that I PIF every month. Anyone else had this happen to you?

I guess I will give my returns to them but just find this strange

Edited by blake10
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I am trying the alliant loan hack because I don't have any current installments. My scores currently are 732 738 741. Once it is reporting I will update.

 

How many new accounts does this bring the total to? (those less than a year old)

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I am trying the alliant loan hack because I don't have any current installments. My scores currently are 732 738 741. Once it is reporting I will update.

How many new accounts does this bring the total to? (those less than a year old)

quite a few. 5 I think. I figured might as well get an installment loan since I am going to garden the rest of year.
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Hm... if 5 accounts in the last year is "quite a few," what does that make my 16 new accounts in the last year?

Gold Medal in the Credit Pimp Olympics
ha ha nice. I want to be in the credit pimp olympics
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  • 2 weeks later...

I have been reading and studying and here is what I am thinking may be a good strategy for me as I try and gain a million in credit lines. Apply for the card that has the best sign on bonus ( especially if annual fee is waived first year) then PC to the best CB variety with no AF and keep long term. I don't travel too much so trying to figure out how to spend reward points or miles doesn't make much sense to me. Example. I want to go after Citibank. So instead of starting with the D.C. I am thinking app the Premier and get the sign on bonus then PC to DC after a year. Cap One- app venture then PC to QS. Chase- app CSP then PC to Freedom. I am trying to figure out the downside of this strategy. Hope this makes sense and would love to hear opinions. I am gardening til 2018 but thinking the same strategy for DW as well.

Edited by blake10
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The downside to that strategy is that if you aren't using the card in the rewards category, the SUB has to outweigh the AF. It likely won't outweigh it as much as it would if used in the higher categories, but with a healthy SUB you can still make out (ex: my minimum spend on the C$R was completely comprised of travel spending).

 

There is a risk of PC'ing a card after a churning move and having points/rewards clawed back, but I'm sure you've read that.

 

 

Hopefully the churning ideas are sitting on the still-cooling backburner. ;)

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The downside to that strategy is that if you aren't using the card in the rewards category, the SUB has to outweigh the AF. It likely won't outweigh it as much as it would if used in the higher categories, but with a healthy SUB you can still make out (ex: my minimum spend on the Chase Sapphire Reserve was completely comprised of travel spending).

 

There is a risk of PC'ing a card after a churning move and having points/rewards clawed back, but I'm sure you've read that.

 

 

Hopefully the churning ideas are sitting on the still-cooling backburner. ;)

thinking about the future. I am not applying for anything in 2017. DW is really who I am thinking about. Trying to decide strategy for her. Maybe I just go after chase only with her since I am past 5/24.
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  • 2 weeks later...

I have been reading and studying and here is what I am thinking may be a good strategy for me as I try and gain a million in credit lines. Apply for the card that has the best sign on bonus ( especially if annual fee is waived first year) then PC to the best CB variety with no AF and keep long term. I don't travel too much so trying to figure out how to spend reward points or miles doesn't make much sense to me. Example. I want to go after Citibank. So instead of starting with the D.C. I am thinking app the Premier and get the sign on bonus then PC to DC after a year. Cap One- app venture then PC to QS. Chase- app CSP then PC to Freedom. I am trying to figure out the downside of this strategy. Hope this makes sense and would love to hear opinions. I am gardening til 2018 but thinking the same strategy for DW as well.

I tried to PC Citi's Simplicity card - they told me they didn't do that. Maybe I got an unknowing CSR? May want to verify that Citi will do a PC. For whatever reason, they told me no. But - it could have been the Simplicity they wouldn't change.

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I have been reading and studying and here is what I am thinking may be a good strategy for me as I try and gain a million in credit lines. Apply for the card that has the best sign on bonus ( especially if annual fee is waived first year) then PC to the best CB variety with no AF and keep long term. I don't travel too much so trying to figure out how to spend reward points or miles doesn't make much sense to me. Example. I want to go after Citibank. So instead of starting with the D.C. I am thinking app the Premier and get the sign on bonus then PC to DC after a year. Cap One- app venture then PC to QS. Chase- app CSP then PC to Freedom. I am trying to figure out the downside of this strategy. Hope this makes sense and would love to hear opinions. I am gardening til 2018 but thinking the same strategy for DW as well.

I tried to PC Citi's Simplicity card - they told me they didn't do that. Maybe I got an unknowing CSR? May want to verify that Citi will do a PC. For whatever reason, they told me no. But - it could have been the Simplicity they wouldn't change.
interesting I thought Citi did PC
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I have been reading and studying and here is what I am thinking may be a good strategy for me as I try and gain a million in credit lines. Apply for the card that has the best sign on bonus ( especially if annual fee is waived first year) then PC to the best CB variety with no AF and keep long term. I don't travel too much so trying to figure out how to spend reward points or miles doesn't make much sense to me. Example. I want to go after Citibank. So instead of starting with the D.C. I am thinking app the Premier and get the sign on bonus then PC to DC after a year. Cap One- app venture then PC to QS. Chase- app CSP then PC to Freedom. I am trying to figure out the downside of this strategy. Hope this makes sense and would love to hear opinions. I am gardening til 2018 but thinking the same strategy for DW as well.

I tried to PC Citi's Simplicity card - they told me they didn't do that. Maybe I got an unknowing CSR? May want to verify that Citi will do a PC. For whatever reason, they told me no. But - it could have been the Simplicity they wouldn't change.
interesting I thought Citi did PC

 

They do. Minimum time and of course they won't cross pollinate partner and non partner cards.

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I have been reading and studying and here is what I am thinking may be a good strategy for me as I try and gain a million in credit lines. Apply for the card that has the best sign on bonus ( especially if annual fee is waived first year) then PC to the best CB variety with no AF and keep long term. I don't travel too much so trying to figure out how to spend reward points or miles doesn't make much sense to me. Example. I want to go after Citibank. So instead of starting with the D.C. I am thinking app the Premier and get the sign on bonus then PC to DC after a year. Cap One- app venture then PC to QS. Chase- app CSP then PC to Freedom. I am trying to figure out the downside of this strategy. Hope this makes sense and would love to hear opinions. I am gardening til 2018 but thinking the same strategy for DW as well.

I tried to PC Citi's Simplicity card - they told me they didn't do that. Maybe I got an unknowing CSR? May want to verify that Citi will do a PC. For whatever reason, they told me no. But - it could have been the Simplicity they wouldn't change.

 

I've been told the same thing re: Simplicity... they won't budge

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I can tell you, as someone who is near such a goal (maybe even there, I haven't checked lately)... Its stupid. Totally stupid.

 

The Business lines I use, Build as many as you can, as big as you can...

 

The personal lines. I've consolidated so many cards its not even funny. I use 4, maybe five a year... At most.

 

I cant wait till I have all my personal cards down to like 10 at most.

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