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They're going to run a hard credit inquiry. They always do. But that's what credit is for isn't it? I never understood why are you penalized for using it, and why does your score go down when you open a new line of credit. I could understand why it hurts you if you don't pay, but whatever.
They're going to run a hard credit inquiry. They always do. But that's what credit is for isn't it? I never understood why are you penalized for using it, and why does your score go down when you open a new line of credit. I could understand why it hurts you if you don't pay, but whatever.
The "paradox" of credit: Those who don't need it can be trusted with it, and those who need it cannot be trusted with it. If you were a bank and someone came to you asking for a loan after having done so at every other bank in town, you'd be suspicious too.
this is about as high of a SUB as this card gets, i think. fairly easy decision if you use amz and don't have it. i agree it should have some kind of discount/bonus for paying for prime, rather than the other way around of this being a "bonus" you can only get with prime, but i digress..
i remember the dumbest one was when we put recently $7000 for a medical procedure on a new citi custom cash card with 0% intro apr (limit around $10k), and it instantly tanked my score by 20+ pts..when i have a total credit limit of >$200k, an amex gold and platinum (no limit), and score generally around 820 (out of 850)
They're going to run a hard credit inquiry. They always do. But that's what credit is for isn't it? I never understood why are you penalized for using it, and why does your score go down when you open a new line of credit. I could understand why it hurts you if you don't pay, but whatever.
If it wasn't for heard inquiry, people would be opening new credit cards like buying groceries every day. I don't like it either but think it's necessary.
The "paradox" of credit: Those who don't need it can be trusted with it, and those who need it cannot be trusted with it. If you were a bank and someone came to you asking for a loan after having done so at every other bank in town, you'd be suspicious too.
No I'd just know their credit was terrible. Coming from a career banker it's not the inquiry that does anything more than drop your credit 4–8 points.
this is about as high of a SUB as this card gets, i think. fairly easy decision if you use amz and don't have it. i agree it should have some kind of discount/bonus for paying for prime, rather than the other way around of this being a "bonus" you can only get with prime, but i digress..i remember the dumbest one was when we put recently $7000 for a medical procedure on a new citi custom cash card with 0% intro apr (limit around $10k), and it instantly tanked my score by 20+ pts..when i have a total credit limit of >$200k, an amex gold and platinum (no limit), and score generally around 820 (out of 850)
See when you have an 800 credit score 20 points doesn't mean anything. When you have a 700 credit score 20 points means everything. Keep up the good work.
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what does that even mean?
Nothing. It means nothing.
They're going to run a hard credit inquiry. They always do. But that's what credit is for isn't it? I never understood why are you penalized for using it, and why does your score go down when you open a new line of credit. I could understand why it hurts you if you don't pay, but whatever.
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i remember the dumbest one was when we put recently $7000 for a medical procedure on a new citi custom cash card with 0% intro apr (limit around $10k), and it instantly tanked my score by 20+ pts..when i have a total credit limit of >$200k, an amex gold and platinum (no limit), and score generally around 820 (out of 850)