Originally Posted by biggestbopper

These are certainly real concerns.

Yet, I have concluded the banks don't give a flying banana about the bonus miles thing. If they did, they would have done something about it long ago.

Originally Posted by pushback

(1) Frontier MC
(1) US Airways MC
(3) Citibank AA MC Platinum
(1) Citibank AA MC Gold
(1) Citibank Business Visa
(2) Citibank Business MC
(7) UA Signature/Platinum Visa (several different designs)
(1) United Business Awards Visa
(1) Marriot (applied for--not received. Don't use the link on this site--go to marriot.com and apply there. The link there gives you 15,000 and a free night)
Other

(2) SPG Amex Card
(2) Hilton Honors Card
(1) Choice Priveleges
(1) My Points Visa(will go toward UA miles)
(1) Marriot (applied for--not received. )

---------------
Mrs. Pushback (if she only knew)

(5) UA Visa Signature/Platinum
(2) Citibusiness MC
(2) AA Citibank Visa
(1) Hilton Honors
(1) Marriot (applied for--not received.)


As for the number a bonus miles--no exact count w/o much labor--but a lot. We'll say on the airline cards at least 20K per card (except the AA Gold I think is 12,500).

(and yes--my FICO is fine--mid 700s down from high 700s)

Originally Posted by drbond

Those of us that do this would prefer to chat by PM. We that do these things should not post on threads like this for risk of not being able to do these things any longer.

Originally Posted by ladiflier

I'm actually in the Credit Card industry and pretty familiar with some of the reward/mileage programs as well as the thinking behind different banks policy regarding multiple accounts.

Many banks are measured by Accounts on File, Total Outstandings, and then overall performance (losses and profit) based on these numbers. The more accounts on file, the better their ratios look.

Some don't allow it because of the added risk of someone experiencing a life-event causing sudden drains on funds. For instance, you lose your job and decide to max out all your cards then find yourself in a bankrupt situation. They monitor scores and credit bureaus to watch for those risks.

As for double dipping on points, they try to put rules in place but when the expense of micro-managing policies down to the exceptions rather than the customerary use, it becomes more effort and expense then its worht. Overall, they just look at the net expenses of the program. They factor in very heavily the breakage of the program (i.e., miles that never actually get used). Keep in mind, miles aren't an expense until you use them. Most customers don't use them. (60-80% breakage thse days). Keep in mind the FT population really does represent such a small portion of total cc users and fliers, that the net impact of "gaming" the system from Flytalker cc's would probably only be a blip on the map of the big guys like Citi and Chase.

Originally Posted by starp023

How do you avoid the fees on these cards? Or do you just suck it up and pay them?

Originally Posted by pushback

I am getting the impression that some do not want this discussed openly for fear that a handful of us really make a difference to the credit card industry. To those I say consider this post from another thread:



from this thread

Originally Posted by drbond

I am actually very involved in the credit card industry. I also (blocked out to keep me from being identified) for the credit card industry as well. (blocked out to keep me from being identified) also routinely attend meetings for these very banks that you are speaking of. I know how they think and what they watch for. I don't mention what I have done or what I know that fters do for a very good reason. You take the advice that you wish to take. But I would encourage you to refer to my previous post. I will also tell you that post on creditboards has resulted in changes and rules implementations that have ruined some things you have enjoyed in the past. Post on FT have came up at some meetings and have also caused some of the things that some have complained about. Take it as you wish, but that is some board room and marketing discussion talk for you. And for obvious proprietary reasons, I will say no more.

Originally Posted by pushback

OK fine. Let's bury the thread. I don't want to screw the pooch. Everyone--let's meet out behind the garage where no one can see us tonight. Tonights agenda--come up with the secret handshake.

Originally Posted by biggestbopper

This thread must die!

But, we don't need a secret handshake. Need a secret drink. Perhaps a variation on the singapore sling, double strength.

By the way, assuming that the credit card companies do care and are somewhat competent (dubious); why did a certain bank just issue me two bonus cards when I only applied for one. Got two calls from customer "service" about switching my credit limit from other cards and was told that I had applied for two identical cards on the same day (no, no, did not) and that I would get both cards and two bonuses. The bank must remain unnamed until we meet behind the gararge and drink our secret drinks!

Originally Posted by pushback

Is it possible you got impatient and clicked "submit" a second time during the application process?

Originally Posted by GeoGirl

I wanna be in the secret club, too! You're inspiring to me!

Can anyone come to the secret behind-the-garage meeting, or what?

Looking for a CC mentor.

GG

Originally Posted by pushback

No girls allowed---ewww.

(What am I saying???)

Originally Posted by ned

I am not a girl and do know a secret hand shake. Can I be in?