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Chase Sapphire Preferred? (pg. 2)
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| EarnYourKeep |
| quote: | Originally posted by Silky Johnson
This thread makes me think I should probably get a better credit card. I definitely play it safe with credit. |
exactly why i'm doing it myself, trying to reduce some of my debt and make some better selections with managing my credit such that it actually benefits me. when i first opened up my amex it was like oh get amex it's the best and i didn't know why, i'm paying for it now and I'm trying to realign all of my finances.
not that bad to be honest |
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| Silky Johnson |
Actually the card I have now is great. 25 dollar annual fee and variable interest rate. I think my rate is only 9%. :)
edit: I don't even use my credit card that often. Mostly just for online shopping, flights + hotels, etc. |
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| Jon_Snow |
I've never had or would I get a card with an anual fee. Since I don't keep a balance the interest rate isn't important. My favorite card is Discover which gives me cash back on ALL purchases not points that expire or restricts how I use them. I've found it's better to buy what you need instead of chasing deals with strings attached that drive you to buy more than you normally would.
I have been playing with the idea of moving the remainder of my 4% car loan to new card that offers intro 0% for the first 2yrs. With the idea of using the savings to pay off the load quicker. |
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| Silky Johnson |
| Hm, I never thought about it that way. But sometimes I do keep a balance so hmmmmm.... |
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| Jon_Snow |
| Credit card companies profit margins are obscene. Considering current interest rate is around 0.5% and the turn around 10-20% on credit cards. |
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| Silky Johnson |
| Welp, at the end of the day I make it a point not to use my credit card for much to begin with. So ehhh. |
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| Dykes_on_Jay |
| You poor motherfuckers. |
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| Lews |
| quote: | Originally posted by EarnYourKeep
I have a pretty good credit score and I'm carrying about 8k of debt on amex which is well below my total credit line but in the course of almost 7 years I've only accrued about 80k worth of amex points and the more I look at the amex catalog specifically for travel the less those points mean anything. It's almost 70k for a decent flight and all the amex travel securities are available on sapphire preferred
As opposed to the sapphire card, the travel securities are the same if not better and the points look to accrue almost double of what amex is giving me.
Also for amex is giving me a pretty crazy apr (i think its at 21%) and I'm looking at either closing the amex or keeping both right now. The lines of credit are virtually the same just that sapphire is giving anywhere from 5x-10x points for using preferred vendors. 40k right off the bat could be an easy 50-60k in the first 6 months and that'd bring me almost right up to a 7 years worth of amex charges. |
21%?? Jesus ing Christ. That's ridiculous. |
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| Jon_Snow |
| It's just an observation not directed at you. |
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| Silky Johnson |
| No, I know that. Just saying - things I don't really think about with my credit card because I use it so minimally. If I don't have the cash to make the large purchases I want to begin with, I certainly don't put them on credit. I pretty much only have a credit card for situations where it's necessary to use one (like online shopping, hotels, flights, etc. :p ). |
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| EarnYourKeep |
| quote: | Originally posted by Lews
21%?? Jesus ing Christ. That's ridiculous. |
tell me about it LOL...this is also the reason why i opened the sapphire card, it's at 15% for the first year...my plan is to open it up, run a few grand through it, pay it off and then 3-4 months into having an active card, do a balance transfer on my 8k owed to amex and knock it off with no interest on it |
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| Silky Johnson |
| What a weird thing...the shuffling of debt and credit. Clearly I don't get it, lol. :o :o |
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