Why is my Fico score so low?

some credit cards are of extreme value to frequent flyers.
msnbc has a constant barrage of ads on latest credit cards.

Quote: AxelWolf

I'm definitely interested and I need to do some more research unfortunately, there's only so much time in the day and there's always something I should be or need to be doing.

What's the best rewards program out there right now? Perhaps it's a hard question to answer depending on what I'm using my credit cards for? I guess I'm asking is there some slam-dunk situation that's a no-brainer?

I don't know, there's just so many...

I have a card I use that's 3% on gas and 2% on groceries. I have another card I use for almost everything else that 1.5% on anything. I have the Caesar's Rewards Visa that puts 1% directly into my Caesar's Rewards account. Plus if you use it at a Caesar's property you get 5% reward points on whatever you buy.

I don't know if there's just one card that beats them all in every category, so if you really want to play the game you'll have to get several cards. I have those three cards that I use regularly and that's good for at least a few hundred dollars a year in free money.

Quote: AxelWolf

I'm definitely interested and I need to do some more research unfortunately, there's only so much time in the day and there's always something I should be or need to be doing.

What's the best rewards program out there right now? Perhaps it's a hard question to answer depending on what I'm using my credit cards for? I guess I'm asking is there some slam-dunk situation that's a no-brainer?

From what I'm seeing there's lots of credit cards with $150 bonus with 1-3% back on purchases.

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Text my ex. She has MASTERED the credit card game. Easily gets value into the low $thousands every year.

Generally, you get value to around $500 for sign up, after using it for a month or two. As long as you pay off monthly, there will be no cost. you just need to cancel before your anniversary date when an annual fee will appear.
Different cards have different bonus offers..... 5% at gas stations (usually limited to first $5000 a year). 3% at supermarkets (also with a limit). Sometimes "specials" like $20 off a certain retailer. I once bought $21 socks which I needed anyway at a retailer in the Mall I normally wouldn't go to for $1. I'm not great at this game, but am planning on getting better now that I am retired.

Quote: AxelWolf

I don't know anything about the art a credit card Advantage play. I really don't use credit cards for anything other than buying something online or traveling so I kind of look at having good credit and a bunch of credit cards as a type of an emergency fund. Is that a bad way to look at it?

Yes, a bad way to look at it.

Discover has a 2Xs cash back the first year. You can use their "bonus" 5% cash back at places like gas stations, WMT, etc as they cone up quarterly. The "bonus" us limited to $1500 per quarter in buys, the rest is not. Do it right and you get $500 a year or more just use it for gas, groceries, and other essentials.

Or you can play the miles game on a card if you travel.

You need to limit this to 2-3 cards and use their "bonus" times to really max things. But AP is AP.

Quote: EvenBob

That's just not true. I've had contractors
for bulldozing the driveway, digging
a new septic system, new well, new
drain field, taking out tree's. None
of these involved materials bought
by the contractor and they all wanted
half the money up front. Hell, the
snow plow guy wants the whole season
paid for up front. Yet you found one
for a $15K job that wanted nothing
up front? Really? Do you realize you
talk a LOT about money in your posts?
Two kinds of people do that, but I
can't list them here for obvious reasons.

Yes I do, I talk a lot about saving money. In this case I am estimating about $450.

DRich said something about making 3% off floating and then investing a zero interest $15K on his credit card, but that's speculative - what is certain would be putting that $15K on a credit card that cash rebates 2%, I have one that rebates 2% no matter what, and another that gives 1% when you charge and 1 more % when you pay off. Then you have a certain three hunny to the good as long as you pay off the $15K in one cycle.

There are some cards that might cash rebate 3% for certain categories, or 5% at certain times for certain categories, and I have some of those cards too, but I haven't found any better than 2% for everything at all times.

Quote: DRich

Yes I do, I talk a lot about saving money.

In your mind buying 12 new cars
is saving money? I knew a woman
who was worth $20 mil and never
bought a new car in her life because
it was a money loser. Instead she
bought a 2 year old low mileage
car every 2 years. This way she was
always driving a fairly new car and
got maximum value for her money.

Quote: AxelWolf

I don't know anything about the art a credit card Advantage play. I really don't use credit cards for anything other than buying something online or traveling so I kind of look at having good credit and a bunch of credit cards as a type of an emergency fund. Is that a bad way to look at it?

I don't think its a bad or good way to look at it. If it works for you. However i think there is money and or free travel/hotels left on the table.
I would suggest doing some home work first, one size does not fit all. There are many websites for this kind of thing. My go to is Flyertalk and then The points guy. Start slow then ramp up as you get more comfortable.

Good Luck!

Quote: EvenBob

In your mind buying 12 new cars
is saving money? I knew a woman
who was worth $20 mil and never
bought a new car in her life because
it was a money loser. Instead she
bought a 2 year old low mileage
car every 2 years. This way she was
always driving a fairly new car and
got maximum value for her money.

Did she die with $20 million? There comes a time when a person should just do what they want. I don't know if DRich has $20 million but I'm pretty sure he has enough to do whatever in the car department.
I don't have $20 million but I've been known to swap new cars before they need an oil change. It all depends on how you buy them and what you buy. My last one that I only kept for a whopping 2 months was a net $1200 loss. Who cares? If that keeps me from accumulating $20 million in my life, I don't care.

Quote: SOOPOO

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Text my ex. She has MASTERED the credit card game. Easily gets value into the low $thousands every year.

Generally, you get value to around $500 for sign up, after using it for a month or two. As long as you pay off monthly, there will be no cost. you just need to cancel before your anniversary date when an annual fee will appear.
Different cards have different bonus offers..... 5% at gas stations (usually limited to first $5000 a year). 3% at supermarkets (also with a limit). Sometimes "specials" like $20 off a certain retailer. I once bought $21 socks which I needed anyway at a retailer in the Mall I normally wouldn't go to for $1. I'm not great at this game, but am planning on getting better now that I am retired.

The game is getting tougher. Chase will not approve new cards if you had 3 new ones in the last 24 months. Other companies may be going the same route.