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BoondockSaint
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02-15-2006, 10:58 PM
Post subject: Free 100 bucks if u like signing up for credit cards
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#1 (permalink)
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4-of-a-Kind
Join Date: Mar 2004
Location: Indiana
Posts: 1,844
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Ha as some of you know I'm always finding phat ass deals on fatwallet. This one came along and I thought you might care http://www.fatwallet.com/t/52/580822/ - all it is is a charles swab visa but you get 100 dollar statement credit after approval and first purchase. Usually credit card initial offers don't get up to 100 bucks but occassionally they do. I got instant approval on mine but sometimes you dont and they mail you your card once they approve you by hand or whatever. Anyway if u want a free 100 bucks do it. I always just use the free stuff then close the account. A 2 minute application for 100 bucks comes out to what like $3000 an hour lol.
Nah this is not spam I dont get crap for it Im just helpin out the cheap and poor on FTR lol
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Boondock the Bot-Slayer
-'rilla
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Play for FREE and practice your game at...
Join the FTR Poker Forum to disable these banners and start posting!
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DoGGz
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This is an excellent way to destroy your credit.
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boost
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Full House
Join Date: Mar 2005
Location: Chicago
Posts: 706
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explain?
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journey075
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Full House
Join Date: Mar 2005
Posts: 725
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the more credit cards you have, the more unsecured credit you have and therefore the lower your credit rating.
unsecured credit is for stuff like credit cards where if you wanted, you could max them all out and go to mexico.
secured credit is like paying for a house. you cant really do much -- if you stop paying for it the bank will just take it back.
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journey075
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Full House
Join Date: Mar 2005
Posts: 725
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so yeah, this is the reason i never sign up for ccs even if they offer money or a free tshirt or whatever poor people like (ake?).
its not going to destroy your credit though.
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Warpe
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Moderator
Join Date: Sep 2005
Location: Canuckistan
Posts: 3,905
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Not to mention that there's an inquiry made on your credit bureau every time you apply for a credit card, which lowers your credit score.
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boost
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Full House
Join Date: Mar 2005
Location: Chicago
Posts: 706
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so everytime someone (including yourself?) checks your credit, your credit score goes down? This seems odd? I hate credit... I hate banks... Why cant I just keep all my money burried on a desert island in a treasure chest? It is infact a very sound way to store money. You see, where the pirates went wrong was with the maps and such, dont go around publishing maps, detailed down to the number of paces, and expect your money to be there when you get back.
silly pirates...
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lolzzz_321
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NO YOU
Join Date: Oct 2004
Location: My ice is polarized
Posts: 2,797
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Inflation
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Warpe
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Moderator
Join Date: Sep 2005
Location: Canuckistan
Posts: 3,905
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If you were drunk on rum all the time, you'd be writing things down too. Not legibly, perhaps...
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bigred
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PROFESSIONAL TROLL
Join Date: Sep 2004
Location: Nest of Douchebags
Posts: 2,184
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Quote:
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Originally Posted by Triptan3s
Inflation
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Yay economics
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LOL OPERATIONS
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DoGGz
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Quote:
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Originally Posted by journey075
the more credit cards you have, the more unsecured credit you have and therefore the lower your credit rating.
unsecured credit is for stuff like credit cards where if you wanted, you could max them all out and go to mexico.
secured credit is like paying for a house. you cant really do much -- if you stop paying for it the bank will just take it back.
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Exactly. You have to sign up, and actually CANCEL the card, which most banks make nearly impossible. You will be hard pressed to get a loan for your house/car when the bank sees you have ton of unsecured credit. They don't want that risk.
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BoondockSaint
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4-of-a-Kind
Join Date: Mar 2004
Location: Indiana
Posts: 1,844
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They dont make it nearly impossible at all. Ive done it like 10 times you just say no you don't want any of their shit and you want written confirmation and have it within a week that the account is closed. If you close em all and dont do it like every week it doesnt hurt your credit. If it did how did I get 8300 credit line from the start with unemployed student status. Cause my credit is perfect and I do this shit whenever it comes around for a good deal. Paying shit late would hurt you way more than applying for a card and canceling it ever would. Which I also never do.
Now if you keep em all open that is a different story. Then you have tons of potential debt out there and they are more hesitant. Just close em all and your fine.
And another note. If you have bad money management and would actually charge this card up then you should skip this deal. Its only a good deal if you take the 100 close the account and be done with it.
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Boondock the Bot-Slayer
-'rilla
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NoSocksLLC
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Join Date: Feb 2006
Posts: 65
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Quote:
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Originally Posted by journey075
the more credit cards you have, the more unsecured credit you have and therefore the lower your credit rating.
unsecured credit is for stuff like credit cards where if you wanted, you could max them all out and go to mexico.
secured credit is like paying for a house. you cant really do much -- if you stop paying for it the bank will just take it back.
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This isn't exactly correct. It's completely impossible to tell the EXACT effect on your credit, because the companies keep their formulas under lock and key.
Nevertheless, I'll try to help. As long as you aren't a slow pay, your "revolving" credit (credit that does not have a finite payoff date -- like a CC) only affects your credit in one way: the amount of your open credit you are using. So, actually, if you were to open this card and NEVER USE IT (here's the catch with most people), it would actually IMPROVE your credit score, because your "percentage of revolving credit used" would actually decrease.
It is true, however, that an "inquiry" on your credit report does decrease your credit score. Nevertheless, unless you have MANY, it's not something that really affects your score beyond a point or two. Also, the inquiries stop affecting your score after approximately six months. Basically, this is built into place because people that shop credit heavily are less likely to remain solvent customers.
Just my opinion. I've spent a couple years in the secondary mortgage business, and used the application of these principles to help people legitimately improve their scores -- and in turn, demolish the rates they could of attained otherwise. It was tough work, but it was a good time.
Best,
EW
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Miffed22001
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Straight Flush
Join Date: Jun 2005
Location: Marry Me Cheryl!!!
Posts: 8,181
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if you have spare bucks invest it
i suggest russian oil
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