That is a really high score for being only 25. How old where you when you first established a credit history?
^I was pretty young. I don’t know how early it started counting, but I had a card under my parents name with AMEX since 16. I think it started counting at 18, but not sure. But I manage my credit tightly and joke that I date based off of FICO scores.
One of the main reasons I haven’t exploited 0 APR credit advances more is the potential impact to my credit score – but funny enough, doing my recent (6 months ago or so) 0 APR advance seems to have increased my credit score. Guess its because I’ve never carried a balance on a credit card before .
Too much work. Need to apply, cancel, pay an assortment of bills. Not worth the time. Few rewards are worth that kind of work.
^ Also I feel like you in Canadia don’t get the same selection of cards as we do in the US.
Probably true. We’re talking about the banking syndicate that provides 2.35% equity index funds to their customers… why would they give good rewards?
There are a few good cards in Canada and I have them. Not much motive to switch. But the reward would need to be $300-400 before I wasted time doing something like this. I mean, I’m already getting some rewards on existing cards, so the marginal benefit needs to exceed my opportunity cost.
And I bill my economic opportunity account at a high rate when talking on the phone with a bank rep… 