One advantage I recently discovered from the recent move by Citi DC to Thank You points. If you have other Citi Thank You points earning cards and you combine the Thank You accounts, the Citi DC card enables all Thank You points to be redeemed for cash at a 1:1 rate. I’m sure this was done to keep the DC as a “2% Cash back card”, but previously my Thank Points were only valued at 0.5 cpp for cash redemption and had to use gift card or other redemption options to get a full 1 cpp value.
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Citi DC card @2%. For sure one of the better cash cards.
But having to change over to those TY points certainly caused a slight rifle for me. Not easy but finally figured it out. Just received my check $500+.
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When looking at my FICO® Score 2 based on Experian data retrieved on 06/11/22 by San Francisco Fire Credit Union, I found this:
"Key Factors affecting your FICO® Score
2. No recent revolving balances
FICO® Scores consider whether a person’s credit report shows recent balances on revolving and/or open-ended accounts. Your FICO® Score was impacted because you are not currently demonstrating active revolving and/or open-ended credit management.
Keep in mind:
People who show moderate and conscientious use of revolving and/or open-ended accounts, such as having low balances and paying them on time, generally demonstrate responsible financial behavior. People without recent revolving and/or open-ended credit activity tend to be viewed as higher risk by lenders."
Showing a low balance on cards may be better than showing zero. In the past few months I’ve spent more than $10K on credit cards but none of it has shown on the credit report.
Since I regularly pay off my balances prior to the statement date, my credit reports usually show Zero Balances on all cards. That might indicate the cards are not in use, as one rep. once mentioned to me, so I will try keeping a few dollars reported in the future so it shows on the credit report, and see if that makes any score difference.
Note: This does not mean to keep a balance on your card that may require interest payments, just that something shows up on credit reports before you pay it off.
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They’re required to give reasons your score isn’t higher. If your score is already pretty high, the reasons they list aren’t really going to help any.
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I understand. However, if you’d like a few extra points, it might help. It also appears better as one time I was on with an agent about getting a new card and when I pointed out I had considerable credit already, the agent said “It doesn’t look like you use them.”
“Congratulations! You have a high FICO® Score. Key score factors explain the top factors that affected your FICO® Score. However, since you already have a high FICO® Score, score factors are informative but not as significant since they represent very marginal areas where your score was affected.”
It’s been a while since delving into this, but I seem to recall that the “active revolving / open-ended” applies to loans (other than mortgage).
FWIW, that’s the same message on my Experian FICOs and I never pay cards before the statement due date (except weekend due dates).
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I left a balance on my most recent credit card statement. The score stayed the same at Equifax and dropped one point at TransUnion.
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Not sure whether this is the correct thread, so please feel free to move the post somewhere else… Just wondering if anybody has tried to upgrade from Chase United MileagePlus to the United Explorer? I downgraded at the start of the pandemic but would like to upgrade, if possible, now that traveling is going back to almost normal.
TIA for any info.
Why wonder? Call and ask. Generally Chase allows product changes within the same product line.
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Yep, Similar reason why continue to pay $95/yr for Chase Sapphire. I can move all points to it and get higher CB%
For most people a better strategy with Sapphire is to get a new card with a bonus every 4 years instead of paying the AF continuously. Or every 2 years with Player2.
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I called and it was a painless process.
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I received a Citi Custom Cash Card offer. It has 5% back on purchases in “your top eligible spend category each billing cycle, up to the first $500 spent.” There are ten categories, groceries being the one I am most likely to use as I get groceries, prescriptions, cleaning supplies, paper goods, stamps, etc. at the grocery store. I was going to ask if you can choose the same one each month but just found out they select it automatically at the statement date for your spending the past month. No enrollment or work by customer. It seems like a pretty good deal. I would just be careful to spend as close to $500 as possible each month. It’s 1% rewards after $500 or for other items.
Other spending categories include restaurants, gas, select travel and transit, home improvement stores, fitness clubs, drugstores. select streaming, live entertainment.
Other enticements: $200 back after spending $1500 on purchases in the first six months, 0% intro APR on purchases for 15 months.
I have the Amex Preferred 6% cash back on groceries up to $6K but I spent that in 6 months this year because of high Rx costs. 6% resumes January 1, 2023.
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Will take your advice this Nov, best way to cash out points or move to freedom?
You’re supposed to move points from freedom (and Ink) to CSR or CSP for better redemption rates, not the other way around. Transfer to miles partners if that’s your thing or redeem for travel or pay-yourself-back at 1.5x or 1.25x if the categories suit you.
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I’ve had it for more than a year. One $500 GC per month.
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Great. I usually apply rewards to the statement balance. Can you do that?
I think he’s asking what to do with his accumulated Sapphire URs when he cancels his CSP/CSR and gets a new one with the corresponding sapphire SUB.
Transferring to Freedom/Freedom Unlimited should be fine.
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Yes, that’s an option. I usually send it to my external bank account.
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I believe @shinobi mentioned this several times and he was pretty pleased with their reliability of properly crediting his spending/rebating.
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