Author Topic: Credit-Card King??  (Read 2285 times)

Offline arie

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Offline yaakov s

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Re: Credit-Card King??
« Reply #1 on: June 25, 2011, 10:36:50 PM »
I just love when the Yated People who hold themselves to be the most knowledgeable and worldly of Chareidy  Jewery  seem to have no clue that there are thousands and thousands of people with many of them frum that are as good or better then this guy. http://matzav.com/meet-the-credit-card-king-with-300000-in-credit   

Offline txtmax4

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Re: Credit-Card King??
« Reply #2 on: June 25, 2011, 10:47:51 PM »
I just love when the Yated People who hold themselves to be the most knowledgeable and worldly of Chareidy  Jewery  seem to have no clue that there are thousands and thousands of people with many of them frum that are as good or better then this guy. http://matzav.com/meet-the-credit-card-king-with-300000-in-credit   
Well done to the first commenter on Matzav! Was it you?
If You See Something, Say Something!!

Offline elikay

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Re: Credit-Card King??
« Reply #3 on: June 25, 2011, 11:13:00 PM »
I just love when the Yated People.................
It is a MW/Yahoo article cut and paste

Offline AsherO

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Offline elikay

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Re: Credit-Card King??
« Reply #5 on: June 26, 2011, 12:20:16 AM »
This guy beats him far:

That's who I originally thought this thread was about.

Offline AsherO

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Re: Credit-Card King??
« Reply #6 on: June 26, 2011, 12:21:57 AM »
That's who I originally thought this thread was about.

Meh, $300k in credit? I've had nearly that much in my heyday.
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Offline yaakov s

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Re: Credit-Card King??
« Reply #7 on: June 26, 2011, 12:29:36 AM »
This guy beats him far:
That guy only collected cards . The Chochma is to collect the ones that are worth it.

Offline AsherO

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Re: Credit-Card King??
« Reply #8 on: June 26, 2011, 12:31:40 AM »
That guy only collected cards . The Chochma is to collect the ones that are worth it.

Quantity vs. Quality. They each serve a different purpose, I don't think one is inherently better than the other.
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Offline yaakov s

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Re: Credit-Card King??
« Reply #9 on: June 26, 2011, 12:51:25 AM »
Quantity vs. Quality. They each serve a different purpose, I don't think one is inherently better than the other.
I started this around six months ago, so I'm far from knowing everything. What benefit is there to get a card that has a zero sign up bonus without a great miles/points spending program. At least on this website it seems to be all about free stuff not cards locked up in a safe with some inevitably costing an annual fee . Unless you could parlay the fame into miles of course.

Offline aycee

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Re: Credit-Card King??
« Reply #10 on: June 26, 2011, 01:18:40 AM »
I started this around six months ago, so I'm far from knowing everything. What benefit is there to get a card that has a zero sign up bonus without a great miles/points spending program. At least on this website it seems to be all about free stuff not cards locked up in a safe with some inevitably costing an annual fee . Unless you could parlay the fame into miles of course.

The less you use from your available credit line the better for your score. More cards=more credit.

Offline yaakov s

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Re: Credit-Card King??
« Reply #11 on: June 26, 2011, 01:34:04 AM »
Is your score really better with 1000 cards then with 25-30 with 300K limit and spending a few thousand a month I highly doubt it.

Offline Dan

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Re: Credit-Card King??
« Reply #12 on: June 26, 2011, 02:02:15 AM »
$300,000?
Pfft.  Wayyy more than that.

Worthwhile quote, but one we knew already, “The ideal place to be is under a 10% utilization rate but over 0%,” FICO’s Paperno said.
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline AsherO

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Re: Credit-Card King??
« Reply #13 on: June 26, 2011, 08:02:20 AM »
$300,000?
Pfft.  Wayyy more than that.

Worthwhile quote, but one we knew already, “The ideal place to be is under a 10% utilization rate but over 0%,” FICO’s Paperno said.

The simple way for n00bs (or others with spend patterns higher than 10%) to work around this is to put large purchases on a business card, as those balances are usually not reported.
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Offline yaakov s

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Re: Credit-Card King??
« Reply #14 on: June 26, 2011, 08:59:57 AM »
The simple way for n00bs (or others with spend patterns higher than 10%) to work around this is to put large purchases on a business card, as those balances are usually not reported.
Or to pay up most of your bills before the cycle ends that way I'd doesn't hit your report?