Misc Credit Card Questions

[Cappy]

why would the annual fee be waived in jan? And if I may ask why dont you personal like playing these games? Any problems?

The AF would be waived if you were to cancel within the timeframe.

As for not wanting to play games.... I'm a very cautious person. Not sure if anyone noticed that trend yet. I ask a lot of questions myself. 

[Cappy]

You're talking in terms of FICO effect or manual review?

Manual review and the internal creditor

Once the account becomes 2 years old closed or open, the account is considered mature by FICO

[Cappy]

but if I downgrade it before 60 days, is it also not the best thing?

IIRC, you need to have the card for minimum 12 months before you're eligible for a downgrade

[ydf]

Manual review and the internal creditor

Once the account becomes 2 years old closed or open, the account is considered mature by FICO

so how will the internal creditor see it if you downgrade multiple cards before 60 days to avoid AF? Is it the same?

[Cappy]

so how will the internal creditor see it if you downgrade multiple cards before 60 days to avoid AF? Is it the same?

Lol.

As I just mentioned I BELIEVE it's 12 months before you can DG.

Also, the internal creditor would be Amex and they are the ones doing the Downgrade. Of course they could see it. 

[Wizard]

I am just starting out with CC, I have Gap CC for a few months, spent and paid down on time. I also think my report shows me as AU on Chase Freedom card that has a very clean record.

I want to apply for a real CC. Where should I start? Getting my credit score to see what I can apply for or just try applying? I think I want AMEX EveryDay Preferred Card and maybe one other that I can apply for at the same time?

Any guidance would be greatly appreciated... TIA

[a mirrer]

IIRC, you need to have the card for minimum 12 months before you're eligible for a downgrade

-1 amex its possible to downgrade right away no need to wait a year

[Cappy]

-1 amex its possible to downgrade right away no need to wait a year

Do you have a source for that? I did say IIRC... I may be wrong.

I Might of been thinking about reallocating credit lines with Amex...   I believe thats 12 or 13 months. I have to check on that

[Emkay]

Do you have a source for that? I did say IIRC... I may be wrong.

I Might of been thinking about reallocating credit lines with Amex...   I believe thats 12 or 13 months. I have to check on that

Downgrading def doesn't need 12 months

[Cappy]

Downgrading def doesn't need 12 months

I've personally never DG'd an Amex card, but when my Deltas AF came up last year and I tried calling retention for an offer, they said there was no offer and that you have to wait at least 12 months to DG...

Obviously not true and I should've HUCA it

Wasted $95 for nothing. I already plan on PC my Delta out to the Hilton no AF card. I already called to see it was an eligible PC

[sedge]

Do you have a source for that? I did say IIRC... I may be wrong.

I Might of been thinking about reallocating credit lines with Amex...   I believe thats 12 or 13 months. I have to check on that

I've reallocated with Amex recently and both accts were just a few months old.

[Cappy]

I've reallocated with Amex recently and both accts were just a few months old.

American Express - ("donor" card must have 13 or more closed statements; you must leave $500 - $1,000 on "donor" card)

[sedge]

American Express - ("donor" card must have 13 or more closed statements; you must leave $500 - $1,000 on "donor" card)

I should have been more specific. I transferred between two biz cards that were both <12 mo.

[CS91]

How often do you guys make sure to have at least one charge on a credit card that you have open but don't really use in order to avoid the bank shutting the account for inactivity?

[Cappy]

How often do you guys make sure to have at least one charge on a credit card that you have open but don't really use in order to avoid the bank shutting the account for inactivity?

It's recommended to use your card at least once every 3-6 months.

Every creditor varys.

Just swipe for a pack of gum or even a 50 cent Amazon GC every few months and pay it off right away. You'll be fine 

[CS91]

It's recommended to use your card at least once every 3-6 months.

Every creditor varys.

Just swipe for a pack of gum or even a 50 cent Amazon GC every few months and pay it off right away. You'll be fine 

Thanks!

[PillanSmye]

It's recommended to use your card at least once every 3-6 months.

Every creditor varys.

Just swipe for a pack of gum or even a 50 cent Amazon GC every few months and pay it off right away after it posts. You'll be fine 

FTFY.  Some CU's will transfer your payment to your share account as opposed to giving you a CC credit balance if the charge hasn't posted yet. 

[CS91]

FTFY.  Some CU's will transfer your payment to your share account as opposed to giving you a CC credit balance if the charge hasn't posted yet.

Not sure I understand what you just wrote. I'm not talking about wanting activity to show up on a credit report. Just preventing a bank from shutting down the account for inactivity.

[Cappy]

Not sure I understand what you just wrote. I'm not talking about wanting activity to show up on a credit report. Just preventing a bank from shutting down the account for inactivity.

Any activity is fine.

Like I said, make a purchase for anything. This has nothing to do with your CR..  It's all internal

[CS91]

Any activity is fine.

Like I said, make a purchase for anything. This has nothing to do with your CR..  It's all internal

That's what I thought. Just confused about what PillanSmye wrote.