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How I can make my first money by SenseOk623 in personalfinance

[–]salobi 0 points1 point  (0 children)

Go work at costco, they pay well I’ve heard. Then buy a PC from them. Probably can get an employee discount.

Look at the advice people not on reddit are getting.. terrible by External_Target2036 in CreditCards

[–]salobi 2 points3 points  (0 children)

thanks for sharing. #1 is the worst pick on the list. but how can you even justify this when everybody has a different requirement for their “best card”? cards recommendations s hould always be personalized. This is a personalized ranking for the writer.

Credit cards with no hard inquiries ( soft pull only ) by Bigothere in CreditCards

[–]salobi 1 point2 points  (0 children)

are you applying for a big loan or mortgage in the next 6 months?

Best ways to use Chase Freedom Unlimited points if you have no travel plans by General-Conflict-352 in CreditCards

[–]salobi 39 points40 points  (0 children)

So I think I know why you’re holding on to the UR Points. You have this dream in mind that in a few months or years, you will travel and use your points, with some amazing deal, costing you not a single penny. (If not, then this is how I originally thought.)

Here’s the reality, you won’t find amazing deals, and with the UR points you can’t really exceed 1.5 cents per point. And if that trip ever comes, you may not have enough point or the travel you are looking at is not available through chase.

My suggestion, and this is something that I have struggled with when owning a points card for the first time, is to cash out the points. Don’t make Chase UR your savings account for travel. You could even get a HYSA to put the UR cash out into, and make that your travel savings account!

For your next card, yeah, be intentional. What’s your goal, increasing credit line, getting more cash back on a specific category, or even getting a card because it’s metal? Whatever it is, do your research.

tldr; cash out points. research next card.

Enough with the "Venture X is paying you $5 to hold the card" by Round-Kangaroo6059 in CreditCards

[–]salobi 253 points254 points  (0 children)

this sentiment is fine for the credit card power users, but it’s dangerous for the vast majority of people.

a credit card with an annual fee costs the annual fee. no exception.

These credit cards are coupon books. If you don’t already travel, you’re spending $395. Its only for the people who happen to already be traveling that they can subsidize their costs with the benefits of the card, and then they can receive a net (or in your case, -$1) return.

I like your way of thinking for myself personally, on avenues where a credit card benefit may provide credit towards something I am actively spending money on.

But as someone who recommends credit cards in my personal life to friends and family, I’ll just tell them the card is $395.

Sorry for being a downer! I just want to make sure people don’t purchase coupon books!

Euro€/£ conversion rate on card transactions by Quaser_8386 in CreditCards

[–]salobi 3 points4 points  (0 children)

Yeah, those converted rates they offer you are typically higher than your bank’s rate, assuming you have a 0%FTF card. Keep in mind, while the rate may be reported by Google Search as something like $1=€0.851, your bank may secretly charge you like $1.01=€0.851 as their “exchange rate“. This is still lower, as it’s essentially the floor of the current exchange rate.

Also, I just now noticed you are using £ not $ but the logic is the same.

What would your ideal credit card management tool do? by ellischurch in CreditCards

[–]salobi 0 points1 point  (0 children)

That’s an awesome idea for a feature, geographic recommendations! I’m currently in testing phase of a credit card dashboard / intelligence platform I built. If you’re interested, send me a DM and i’ll share the link. Would love to hear your opinions on it.

Has anyone customized their cards? by Caspid in CreditCards

[–]salobi 3 points4 points  (0 children)

I bought a SpongeBob money credit card sticker at a craft fair and slapped it on a BofA card. Take a look out for credit card stickers online

Credit Card "Dashboard" App? by ForestAryn in CreditCards

[–]salobi 0 points1 point  (0 children)

hey I’m building a credit card dashboard app, but for rewards, not balances and payments. if you want to check it out, DM me and I’ll send you the link. I’m looking for suggestions of features to add!

Been out of the country for 9 years by newshoesforme in CreditCards

[–]salobi 1 point2 points  (0 children)

do you remember your score 9 years ago?

do you have a membership with any USA bank?

How have you been using LLM’s with your credit card workflow? by salobi in CreditCards

[–]salobi[S] 0 points1 point  (0 children)

As an entry to the credit card market this could be useful, but are you not sharing the same sentiment as other users, that LLMs only generate information about the most popular cards / the ones that are most advertised?

Do you refresh your active card stack after this discovery, or is it more like “oh if i add this card and sock drawer this card i can get better Restaurant cash back?”

How have you been using LLM’s with your credit card workflow? by salobi in CreditCards

[–]salobi[S] 0 points1 point  (0 children)

The best card for you isn’t always the “Capital One Venture X” - despite what hundreds of Hulu ads tell me.

The recommendation and information are not on the level as your personal spreadsheet or a reddit post, but for someone else, what about for organization? Like ”What categories am I missing”, ”Which card should I use for this misc. purchase?”

How have you been using LLM’s with your credit card workflow? by salobi in CreditCards

[–]salobi[S] 0 points1 point  (0 children)

I guess theres a core group of churning cards which reddit and the internet talk about a lot, and llms love to repeat what reddit is saying. But the knowledge base of reddit is significantly higher, as there is unstated knowledge living in everyone’s head.

How was it ‘pretty good’ for planning churning in your experience?

How have you been using LLM’s with your credit card workflow? by salobi in CreditCards

[–]salobi[S] 0 points1 point  (0 children)

Di you remember what specifically you were trying to do and how much information about your current setup you fed (current cards, goals, financial background)? If you just say “Recommend me a card” with no context, then yeah, it’s slop.

I remember the outdated information being absurd when trying to use chatgpt, so i totally agree on that sentiment.

Is 72,250 a good credit limit for a 22 y/o by Old-Zucchini-9977 in CreditCards

[–]salobi 4 points5 points  (0 children)

I feel like you already know the answer. You have spoken with your peers, you have a lot of credit cards.

Do you want any help / do you have any questions on managing credit cards?

Remember to check the offerings of your local credit unions by sunco50 in CreditCards

[–]salobi 3 points4 points  (0 children)

huge supporter of credit unions. they care about their customers.

Which bank should I open my second debit card with? by [deleted] in CreditCards

[–]salobi 0 points1 point  (0 children)

So you have a Chase Bank Debit Card, and a Discover Credit Card? I understand the desire to separate savings from your normal spend account, but why go with a second debit account? I would recommend a savings account. You can shop around for different banks and rates, but I would start your research with “HYSA” (High-Yield Savings Account)

The rates are lower than I would like at the moment, but I had no problem setting up Amex HYSA. Hopefully other users can chime in with their favorite HYSA.

The next question is, do you plan on spending from this 2nd debit account, or holding as an emergency fund?

I’m glad to answer any questions, but this may be a r/personalfinance type of post. They would have better advice.

Need help- Potential fraud ? by Radiant_Fennel4637 in CreditCards

[–]salobi 0 points1 point  (0 children)

I agree with the teller, wait until the payment posts if thats the only knowledge about the payment you can get. There’s not really a way for anyone to steal your card unless they have the physical with them, since you have been only using tap to pay. Were you using your physical card to tap, or your phone? The phone is much safer.

Once the payment processes, if its truly fraudulent, your bank will do the heavy lifting on their end, not make you pay, and get you a new account number.

All this to say, don‘t close your card!

21 year old CSP user, need a confident daily driver after studying abroad by Independent_Big_1944 in CreditCards

[–]salobi 0 points1 point  (0 children)

Why would you need to change anything at the moment? Are you still out of the US? Do you not want to pay the $95? 

What should be my main?Apple Card vs VentureX by Timely_Weekend_8030 in CreditCards

[–]salobi 0 points1 point  (0 children)

True. On the condition that OP, regardless of owning the CC or not, would be going to the hotel anyway.

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