Author Topic: Misc Credit Card Questions  (Read 1864830 times)

Offline David R

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Re: Misc Credit Card Questions
« Reply #8140 on: October 25, 2018, 05:21:29 PM »
PenFed sent me this. Should I understand this as discouraging MS? Have other card issuers also been changing terms this way?

Quote
Dear David,

We are writing to let you know about an update that we have made to our Reward program rules, terms and conditions and wanted to share the details with you.

What you need to know

On November 1, 2018, the following important change will be effective for all PenFed reward credit card accounts. For your convenience, please review the summary below.

A new section has been added to the Reward program rules, terms and conditions named Account Abuse/Misuse and Fraud. This new section states as follows:


We may begin an investigation if evidence of account abuse/misuse or fraud is seen. Some examples of abuse/misuse and fraud include:

Using your Account in an abusive manner for the primary purpose of acquiring Points
Using your Account other than primarily for personal, consumer or household purposes
Point redemptions that you didn't authorize
The foregoing examples of abuse/misuse and fraud are not exhaustive, and we maintain the right to investigate in the event we become aware of any other suspicious activity on or pertaining to the account.

If we see evidence of misuse/abuse or fraudulent activity, we may investigate or take any other action we deem appropriate including, without limitation, removing the Points you earned through abuse/misuse and/or fraud and suspending or closing your Account. If we determine that you perpetrated any account misuse/abuse or fraud, we may take actions against you. These actions may include, without limitation:

Taking away the Points you earned through abuse/misuse and/or fraud
Stopping you from earning Points
Suspending or closing your Account
Taking legal action to recover Points redeemed because of such activity and to recover our monetary losses, including litigation costs and damages

Offline as2

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Re: Misc Credit Card Questions
« Reply #8141 on: October 25, 2018, 05:38:32 PM »
PenFed sent me this. Should I understand this as discouraging MS? Have other card issuers also been changing terms this way?
https://www.doctorofcredit.com/penfed-sends-out-notice-regarding-rewards-abuse/amp/?__twitter_impression=true
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Offline ludmila

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Re: Misc Credit Card Questions
« Reply #8142 on: October 25, 2018, 05:40:33 PM »
PenFed sent me this. Should I understand this as discouraging MS? Have other card issuers also been changing terms this way?
This is bad news, and worse if other issuers do the same.
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Offline Dovdovmoneytree

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Re: Misc Credit Card Questions
« Reply #8143 on: October 25, 2018, 06:16:38 PM »
To avoid A/A's etc, is there any MINIMUM time frame I should wait between applying for cards? If yes; what's a conservative time to wait? TYIA

Offline srap

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Re: Misc Credit Card Questions
« Reply #8144 on: October 29, 2018, 11:49:07 PM »

Which CC is best to pay for an international revenue ticket (on UA)? 
Do any give money back? 
If there are no perks to any particular card, then I would just go Sapphire Reserve or Sapphire Preferred.

Offline David R

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Re: Misc Credit Card Questions
« Reply #8145 on: October 29, 2018, 11:55:23 PM »
Sapphire Reserve is a great choice for the insurance, 3X earnings and you can get up to $300 back if you didn't use the credit yet.
Which CC is best to pay for an international revenue ticket (on UA)? 
Do any give money back? 
If there are no perks to any particular card, then I would just go Sapphire Reserve or Sapphire Preferred.

Offline srap

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Re: Misc Credit Card Questions
« Reply #8146 on: October 30, 2018, 12:30:35 AM »

Sapphire Reserve is a great choice for the insurance, 3X earnings and you can get up to $300 back if you didn't use the credit yet.
I know the Reserve is better, but I only have the Preferred. 
Other than insurance and 2x or 3x earnings (anything more than that?), are there any other considerations in choosing a CC for a revenue ticket?

Offline Dovdovmoneytree

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Re: Misc Credit Card Questions
« Reply #8147 on: October 30, 2018, 12:32:35 AM »
To avoid A/A's etc, is there any MINIMUM time frame I should wait between applying for cards? If yes; what's a conservative time to wait? TYIA

Can anyone answer my question??

Offline PillanSmye

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Re: Misc Credit Card Questions
« Reply #8148 on: October 30, 2018, 09:25:36 AM »
I know the Reserve is better, but I only have the Preferred. 
Other than insurance and 2x or 3x earnings (anything more than that?), are there any other considerations in choosing a CC for a revenue ticket?

The MileagePlus Club CC would get you into United Clubs as well as give you Premier Access.

Offline PillanSmye

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Re: Misc Credit Card Questions
« Reply #8149 on: October 30, 2018, 09:27:25 AM »
Can anyone answer my question??

There's a ton of variables.  Credit score, credit file thickness, how many cards you've opened in 6,12,24 months, debt load on revolvers, income.  And of course it depends on what issuer.

Offline Dovdovmoneytree

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Re: Misc Credit Card Questions
« Reply #8150 on: October 30, 2018, 03:11:03 PM »
There's a ton of variables.  Credit score, credit file thickness, how many cards you've opened in 6,12,24 months, debt load on revolvers, income.  And of course it depends on what issuer.

Score- 740, thickness- 4 CC's (history approx 15 yrs old), student loan (43k) since 2010,  <70k avail credit on CC's. I use approx $2000+- monthly but pay it all in full+-. Have a car lease on my name $200 monthly). Income 115k . 3 cards are Chase, one Amex. 2 cards opened within 18 mos, 1 Chase in May '18, one July '18

Thanks!

Offline Yehudaa

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Re: Misc Credit Card Questions
« Reply #8151 on: October 30, 2018, 04:36:03 PM »
Just had my wife product change her Citi Platinum Select card as the annual fee was about to post but I forgot to check if it had posted already or if the card had a balance (I don't think it did, but it could be it had a few dollars), and now I can't see it online.

Am if correct to assume that any balance (or the annual fee of the old card) would automatically be carried over to the new card? I just don't want to forget about it and have it affect her credit score.....

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Re: Misc Credit Card Questions
« Reply #8152 on: October 30, 2018, 04:37:44 PM »
Just had my wife product change her Citi Platinum Select card as the annual fee was about to post but I forgot to check if it had posted already or if the card had a balance (I don't think it did, but it could be it had a few dollars), and now I can't see it online.

Am if correct to assume that any balance (or the annual fee of the old card) would automatically be carried over to the new card? I just don't want to forget about it and have it affect her credit score.....
Of course.

Offline ruv

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Re: Misc Credit Card Questions
« Reply #8153 on: October 30, 2018, 11:44:15 PM »
Score- 740, thickness- 4 CC's (history approx 15 yrs old), student loan (43k) since 2010,  <70k avail credit on CC's. I use approx $2000+- monthly but pay it all in full+-. Have a car lease on my name $200 monthly). Income 115k . 3 cards are Chase, one Amex. 2 cards opened within 18 mos, 1 Chase in May '18, one July '18

Thanks!

If you want to be careful wait 3 to 6 months between cards with chase. But applying now isn’t very risky if you have a good relationship with them.

Offline Dovdovmoneytree

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Re: Misc Credit Card Questions
« Reply #8154 on: October 30, 2018, 11:54:06 PM »
If you want to be careful wait 3 to 6 months between cards with chase. But applying now isn’t very risky if you have a good relationship with them.
But Chase seems to shut people down regardless of their good relationship?? Also- Do I begin to run the risk of A/A if I downgrade AF cards to $0 AF and/or close such accounts?

Offline ruv

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Re: Misc Credit Card Questions
« Reply #8155 on: October 30, 2018, 11:57:22 PM »
To much closing may potentially be a red flag. Downgrading should be fine. AFAIK

Offline Dovdovmoneytree

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Re: Misc Credit Card Questions
« Reply #8156 on: October 31, 2018, 12:01:51 AM »
To much closing may potentially be a red flag. Downgrading should be fine. AFAIK

Thanks for your help! Is applying to other issuers (Citi etc) safe now or better wait longer? Again- just looking to avoid A/A's, not as concerned abt a denial.
Also- if I want to downgrade an AF card, would I lose Bonus signup points if I downgraded before using those points (talking about all issuers)??

Offline ruv

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Re: Misc Credit Card Questions
« Reply #8157 on: October 31, 2018, 12:05:13 AM »
Applying to other issuers should be safe.

Downgrading will not affect the signup bonus in most cases.

Offline Dovdovmoneytree

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Re: Misc Credit Card Questions
« Reply #8158 on: October 31, 2018, 12:24:16 AM »
Applying to other issuers should be safe.

Downgrading will not affect the signup bonus in most cases.
I know it's probably hard to answer but gotta wonder how long can the game go on opening accounts for signup bonuses and then downgrading when AF kicks in (or before??)? Isn't this one of the things the A/A's are after? I have zero MS, all 100% legitimate spend. But I'm afraid to wake up one day to closed accounts, all for signup bonuses, which don't make us rich, it's just a (very) nice perk. Also- If there's a thread on this to point me to; I'd be appreciative.

Offline meilich

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Re: Misc Credit Card Questions
« Reply #8159 on: October 31, 2018, 09:55:33 AM »
Does anyone know if I closed all my amex cards a few years ago and I open a new amex card today will it report on my credit report as if I had credit with them from my first card opening or from today?