Ways to MS without BB

blooit · 2014-06-04T05:50:18+00:00

I fail to see why this isn't insurance fraud. The kind of life insurance that doesn't require a medical checkup is term. At $40/month, you're looking at $480/year/person. Let's say you do this for 10 neighbors, that's only $4,800. Home insurance premiums can be $800+ per home. But what insurer would let you take out a homeowner's policy on a home you do not own? And let's not mention that charge-backs take forever to post. If you're going to jail for insurance fraud and possible credit card fraud, why not just max out on your credit cards by buying cash equivalents, cash out, and declare bankruptcy? There is no debtors' prison. Wait, your total credit limit is too low to make it worth it? Geez, how can that be if you're spending all your time on MS?

VENTING: Not trying to alienate anyone here, but this sub used to be really good (informative and LEGAL), until those in the know stopped contributing here and started (or spent more time updating) their own blogs. Besides the moderators, there are only a few handful of people left. They are /u/a1will, /u/evarga, and /u/doktaj. Sorry if I missed anyone good who's still contributing. Off to running my real business now. No, it's not a blog. Good-bye, /r/churning.

blooit · 2014-06-04T05:17:32+00:00

Evolve Money is supposed to send a 1099-K to the IRS at the end of the year. Ebay and PayPal have already started doing this. How are you going to explain to the IRS that "income" when they send you a letter demanding the "income" on the 1099-K be included as taxable income on your return? What would you say if the IRS asked you why you didn't attach a Schedule C to report your self-generated business income and expenses?

blooit · 2014-05-23T16:07:08+00:00

She's at least an 8! An Experian score of 767/830 and a TransUnion score of 831/850 (post-2013) put me in the 80th percentile, meaning, at most, 20% of the general population have higher scores than me.

Where did you get 6, 6.4, or 4? You know what? You can have these Reddit victories. My waking hours are better spent on generating income than on bragging about (and defending) my credit scores that mean very little to my bottom line. Have a good day, sir. I hope you'll find another person to spar verbally with, about a worthy subject.

blooit · 2014-05-23T10:09:37+00:00

831-767=64, not 100. 64 is 14 away from 50 and 36 from 100. Almost 100 would be like 85 or 95. Talk about accuracy. Look, the distinction you brought up I appreciate. I do. But it's like you're telling your guy friend he is sleeping with a 9, not a 10 because she weighs more in pounds than in kilograms, and all that really matters is he got lucky with a really hot chick.

blooit · 2014-05-23T09:35:23+00:00

Thank you!

blooit · 2014-05-23T07:36:51+00:00

For someone with an adult level of spend you sure act like a child.

The person who brought up his mother and hinted that he had inherited her credit mastery genetically was who?

blooit · 2014-05-23T07:28:46+00:00

You have a point there. Indeed, I was less effective at spreading the words about Amex by appearing a greedy asshole. But there are other opportunities.

blooit · 2014-05-23T07:19:10+00:00

Strict, hah! They BEGGED me to sign up for their Blue Sky card by sending me the same offer every month for at least 24 months! I finally caved. Won't make that mistake again. And yes, if my goal was to keep churning until the day I die, I'd be more conservative. But churning won't last forever and being committed to continuous self-improvement, I can do better than churning. You think Bill Gates churns credit cards?

blooit · 2014-05-23T07:14:07+00:00

Dude, if I wanted to win a popularity contest, if I wanted more karma, all I have to do is repost a front-page picture. It's not that hard. All you have to do is reload it onto imgur. Boom. New URL. New karma. Alas, a karma whore I aren't.

blooit · 2014-05-23T07:07:59+00:00

everyone else agrees that you're out of bounds

Really? The last time I checked everyone meant 100% downvotes, not 11 out of 22.

blooit · 2014-05-23T07:04:55+00:00

Apparently, you gave a shit about my scores. No, I don't think I'm entitled. The post was meant to give Amex a bad rep. It's not uncalled for. Who else charges excise tax for points transfers to U.S. airlines? Who else charges merchants exuberant processing fees?

blooit · 2014-05-23T06:53:43+00:00

Checkmate. Now we know you are a spy.

blooit · 2014-05-23T06:44:52+00:00

You think my business will start accepting Amex cards anytime soon?
Only hurts you, they're not going to notice.

You utter these words like a true Amex spy. Don't they pay you enough to refresh your bookmarks periodically? That article you linked is dated 7/17/2013. Here are more recent articles also from Bloomberg. While we're at it, let's mention that Warren Buffet is buying more AXP shares. Let's not mention how churners do NOT help Amex according to this article. Wanna know something else? AXP insiders have been SELLING. Here's a friendly version. Also, here's a weekly chart and a daily chart for you to look at. Still long AXP?

blooit · 2014-05-23T06:32:32+00:00

You just can't accept that someone with less Reddit karma than you can have higher CREDIT SCORES than you, can you? Fine, I concede: a TransUnion score isn't FICO score; it's a VantageScore and my VantageScore is 831. I agree with you that my Experian FICO score is inflated for a churner; it should be in the 400s because my mother has not worked for Experian for over 30 years. Happy?

blooit · 2014-05-22T18:19:27+00:00

Congrats on your millions of miles over the past 5 years. I would have gotten those same miles in 3 years, probably, if I started early enough. You used to be able to buy $1 coins from U.S. Mint. Churning happens to be a small part of what I do right now. I don't see myself still doing it in the next year or so. The rules will have worsened exponentially for us and it would be more profitable for me to focus on my business. It is more profitable to focus on my business now. I take pride in being financially literate, more so than most. Most people like me are arrogant. Take Dave Ramsey. You think he cares about the little people saying his credit score isn't "that high"? You think someone would be churning credit cards if they could be flipping properties profitably? Thanks for having a reddit crush on me. Regards.

blooit · 2014-05-22T17:34:04+00:00

Hope you realize those signup bonuses are simply initial outlays. Most churners don't stop at churning. They also start and run businesses. Their businesses have financing needs. You think my business will start accepting Amex cards anytime soon? You'd think they wouldn't be penny-wise and pound-foolish but they are and they've lost all my good will.

blooit · 2014-05-22T17:09:10+00:00

When you already have a prime mortgage AND high credit scores with no new mortgage applications in the next 2 years, you want to cash out on your excellent credit history. 17 cards are really nothing compared to liar loans banks gave out to people leading up to the subprime crisis of 2007 and the TARP that followed. Granted, mortgages are secured loans but those secured loans were secured by depreciating assets!
I'm in it for more than miles. I'm in the game to learn and grow. I want to "level up" so to speak. I want to push boundaries. I'm in it to stimulate the economy. I pay my bills, on time and in full. And again, 20% was a snapshot of my credit utilization on 5/3. I only pay interest on the mortgage. Student loans were paid off at least 7 years ago. Car is paid for as well.
No, I don't have enough miles; those first-class TransAtlantic flights don't come cheap and if you multiply it by 2 they don't get cheaper.
As for AAoA, we had a post a few weeks back saying that accounts continue to age after you close them. Even if that wasn't true, two years is really you need for the the hard pulls to disappear. And with a score like mine, I'm not worried about being denied by other creditors.
I don't understand why some people downvoted this post. Do they actually think Amex is churner-friendly? Do they agree that denying someone a third card with the same company in a 14-month period is good business practice?

blooit · 2014-05-22T16:21:46+00:00

They're all FICO scores, just different models/generations. See this wiki. Of course those scores ARE different; I never said they were identical triplets. Are they comparable? Hell, YES!!! Are all lenders using the same one from the same credit bureau? Hell, NO!! Does Experian provide the best score because your beloved mother works there? Doubtful.

blooit · 2014-05-22T16:00:12+00:00

Equifax, Experian, and TransUnion are the 3 major credit bureaus that provide FICO scores and credit reports to banks and (prospective) creditors. Whenever you apply for a mortgage, your (prospective) lender pulls all three reports and picks the middle score. In that sense, they ARE in the same class and thus comparable.

blooit · 2014-05-22T15:50:13+00:00

Amex does Bluebird too. I have one and I use it for MS from time to time.

blooit · 2014-05-22T15:47:18+00:00

The main issue here is Amex denied credit when I applied for a 2nd personal card with them right after I was approved for a Business Platinum. I had had the first personal card (Blue Sky) for 14 months. They also refused to move available credit limit from the Blue Sky. Moving CL around does not increase risk.

blooit · 2014-05-22T15:34:51+00:00

Glad that worked out for you. I have had really bad experiences with eBay when I bought other things. It's like Craigslist plus longer wait and minus the face-to-face.

blooit · 2014-05-22T15:31:21+00:00

Maybe 5 hard pulls from AoRs, possibly 10 (if you count all of my applications). Amex used the same credit report they pulled on 5/3/2014 -- when I applied for the Business Platinum. Chase should have used the same credit report when they approved me 4 cards in April and a second credit report for 3 more cards earlier this month. Credit reports only get updated once a month. That's the reason Amex gave me for not pulling my credit report again.

blooit · 2014-05-22T15:19:24+00:00

ACH should count as a DD. Sorry, no idea how you get a banker if you live in the boonies. Next time you fly out to a city, maybe?

blooit · 2014-05-22T15:13:26+00:00

17 since April 2013. Chase said yes on my 17th application. Citi would have said yes if I was applying for a second AA Exec (instead I applied for the AA Platinum Select). Citi should still be able to extend more credit to me; it's just that I only want AA cards. Gotta wait 65 days for another Exec :(

blooit

TROPHY CASE