Why?

Why do my points no reflect. Im not able to redeem anything. It says I have like 1,000 and I cant redeem or get a scratch off…

Candice, sounds like a bad credit card company. I once called a card to see about consolidating a few cards, same as you - never missed a payment, etc. They refused and even closed the account, saying that my debt-to-income ratio was too high. Some companies are just insensitive and I suggest finding one that will work with you. Don't give up!

@SS, I found my points not adding up today as well…but, it has been my experience that the points are usually corrected by the next login.

Katie, thanks for the vote of confidence. I have no worries that I'll be approved by the other bank I use.

I applied for the credit card with the other bank and was approved for more than what I requested.

Congrats, Candice! I've been wanting to increase my credit line to improve my credit score but just haven't taken the time. I always stay below 10% usage of my available credit but overall the available credit is too low to get the best score in that category. Good job sticking with it and reaching out to a company that recognizes the hard work and responsibility that you've shown!

If I may ask: how does one go about asking for a credit increase? What are the factors one looks at to determine if a credit increase is something they actually want/need? (My credit company gave me an increase without my asking because of "proving I am a responsible customer." While happy as it helped with my utilization rate become lower, my mom cautioned that it may cause problems later if I ever require a loan [as supposedly lenders assume lines of credit are completely used before asking for a loan?].

@Candice P: Congratulations! I'm glad you were able to reach out and be approved for a company that seems to be fair. If I may ask, are you planning to keep your old credit card open (to keep your length of credit history)? I, fortunately, haven't had to decide something like this…but my mind always thinks: I want the company to know that I'm disappointed in them/believe their practices are wrong…but completely closing this account affects [from how I read…once again, haven't ever had to do this myself] my credit score negatively.

@Katie P. Wow! Below 10% constantly is amazing! (I can do it for a few months, but usually utilization creeps into the 25%-30% range on certain months.

@S.S. Though this may not apply to your certain point issues (and might be the delay/lag Candice P has pointed out), I have dertermied that, at least for me, activities such as reading the article of the day and posting on forums do not reset by the calendar day, but by an actual "at least 24 hours." For example, if I read the article of the day at 3:00 PM one day, if I try to read the next day's article before 3:00PM, then it will not count as having read it unless I go back to reread it after 3PM. (The same, I believe is for posting).

Though, this may be a specific problem/bug for me, it might help to know.

Katie, I wanted to increase the line of credit and decrease the interest rate so that I could give my credit score a boost. Since I've decided to use the credit card for the purchases that give rewards, I pay it off as soon as the charge goes through.

Kristen, I called the bank and spoke to one of the "lending professionals" he put my limit request in the system and sent an approval/denial email. I applied for a new credit card with a credit union and was approved immediately. I was so upset with the other bank that I took all my money out and left my true opinion of their service in the follow up survey. I left enough in the account to cover the money I've spent until I get the new card.

I plan to keep the older card open and close it when the new card is considered an old line of credit, if that makes sense.

From what I know, having 50k in available credit gives the highest score in the available credit category. Of course, carrying a balance of 50k might not be good for the credit score, lol. I've only got 15k or so in available revolving credit. I don't know at what level a lender would consider risky levels of available credit but they're probably paying closer attention to your payment history, length of credit history, and historical credit usage. Making payments on time seems to be the most heavily weighted category that I've noticed.

@Candice The credit score thing irks me! I monitor my credit scores and since they changed how they tabulate scores (I think they did this last year?), one of them is always consistently ~50 points lower than the other two. Its super frustrating, especially when I pay everything on time and usually carry no more than 10% of a balance over. (Hopefully closer to zero soon!).

Credit Unions are awesome! Anytime I finance anything with a loan, I usually use my credit union because they tend to have better rates. I use a big bank for most of my daily transactions though since they are widely accepted everywhere. I've never used a credit card from a credit union though. I have a pretty good rate on my current card, I'll have to check and see if my local credit union has a better one.

I often get confused with credit unions as I'm told they are not banks…but they seem to provide the same services as banks? Does one have to be a member of a credit union to use their services?

As for the credit scores, I'm too new to credit and only know the basics. I do not understand any of the calculations for any given category (and from the sounds of it it doesn't seem like the companies themselves are quite sure either with such a huge difference between scores.)

Maybe we'll see an article describing credit unions or differences between credit score company's calculations (is an average person even able to find that information–the exact calculations for each category and not just the "umbrella" percentace?)…

Good to be back!

Katie, I was only asking for a limit of 10k but was approved for 25k. I'll be ready for an increase in a few years but if I find it beneficial I won't wait two decades before making changes.

Sarah, is that what's going on with these discrepent scores?!?! I couldn't believe what the representative was saying when he gave my score but I took out my frustration on the company (not the person) in the survey.

Kristen, as far as I know you have to be referred to a credit union by a member. There are a few that give referral bonuses to one or both account holders when the new account is opened. The credit union I go through has excellent rates their on featured CDs. Featured means between $50 - $3000 max at 3% interest after 12 months. I haven't heard of any other banks/credit unions giving 3% interest.

Welcome back, Lettie!!!

Why not

I've used two credit unions in my area for my whole life and LOVE them! I only used a main bank one time to get a $600 reward for opening an account. I kept it open for 6 months, as required, and then closed it. In my area (Wisconsin) you don't have to be referred to open an account with a credit union. I've taken advantage of the great rates on loans and CDs, and have never been charged a fee, ever, for anything. I'm in a competition to reduce debt/increase savings with one of them right now and will win either $2,500 or $10,000 when it's over in February. My credit unions offer free financial advising services and I've learned so much. I can't say enough good things about credit unions!

@Candice It has to do with the way on credit bureau tabulates their scores. It certainly makes no sense to me!

We had a great credit union in our previous state; friendly, lots of great services and good rates. Unfortunately where we moved to has two choices for a credit union and they are both not very good. Still better rates than the big banks, but nothing near my previous credit union. I really miss them.

I've never used a CD as a means for saving; I usually keep my savings in an online high-yield account (although not very high right now) just for ease of access. Maybe I will graduate to them when I get a little more savings set aside.

Halfway through August though and we have stayed on budget as far as regular expenses/back to school. I even managed to return a little bit of the savings I had to use for our car repair. :) I surprised myself while back to school shopping for the kid; I had some rewards loaded onto a store rewards account and had enough to get myself a small something. Just a new work shirt but still made my day! September is shaping up to be great as well!

Am glad to be here really,for those of you that your point don't reflects just wait a little longer it will, this site is good

Mike F: Hello. :)

Precious N.: Good to see you again. Yes, points do eventually catch-up.

@Sara B: That's so wonderful! I'm glad you were able to stay on budget, especially with back to school. It's hard to estimate the cost of some of that stuff. I'm also glad you had some points to treat yourself.

Hi Mike!!

Katie, that's one heck of a competition!! Sending all the good vibes your way.

Sarah, I tried using CDs before but most recently for saving during the pandemic. It's 3% interest but it was more of a test of will (or won't) and I felt up to the challenge. I think the envelope method works for me in the same way. I don't know how but it helped me stick to a tighter budget. I'm glad that you were able to find supplies in your budget.
I was fortunate enough to get supplies from a neighborhood group that offers free back to school supplies. I will only have to buy more for the next semester if/when the teacher needs them.
I'm not sure why kids need so many writing utensils when they barely write these days.

Hi Precious and Kristen!!

This is a really great group of people supporting each other, which is something I think helps a lot when we're all working hard to better our situations in similar ways. Thank you all for your kind words of encouragement!

Good morning!

Good evening

Good evening and happy saving!!

So far this week, I've increased the retirement percentage taken from each check and checked in on the student loan program. They finally came through with information, smh. Although it wasn't the news I was expecting… at least I can breathe a little easier knowing something solid about the payoff.

Hooray for sinking funds!!

That's a lot of progress, Candice!
This week for me, I focused on reducing bills. I switched phone service to save $20-$30 a month, depending on data usage. I also called my insurance agent and we found a way to lower my homeowners insurance by $600 per year without losing any needed coverage. Those were two things I was putting off but decided to drop the excuses and put in the effort to research. Glad I did and wish I would've done it months ago!

Whoa!!! Way to go, Katie!!
Isn't it an amazing feeling to finally get a sense of relief and hella savings too?!?!?

Good evening!

@Candice P. Glad you were able to hear something about your loan payment status, though I am sorry it wasn't what you were expecting. Seems like you have a good attitude about it, though. Also, an increase in percentage [for retirement]: way to go!

@Katie P. $20 - $30 savings for phone and $600 less per year for insurance! I'm glad taking action gave positive results.

This week, I've been trying to focus on remembering that I'm investing for my future and that [historically, statistics at least say] time is on my side. I have a tendency to try and deduct expected expenses before they happen from my current savings….(which almost always puts stress on me since expected-future-income[s] isn't also factored in). So, that is what I've been trying to work on; mindset.