To extract more profit and to trap us in debt

Profit and control are the answers almost every time

I have done that. Its a good strategy

So would it be wise to break that up next time in case the next rate is lower than the current rate?

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They are paying a game with you and your money. That’s why it’s called a score. And guess who made the rules. They did.

Interest rates are still going up you don't want to be locked in. But a no penalty one is fine

Exactly this. I have around 100k to 125k in available credit that I've requested over the years. I try to put absolutely everything and anything I can on the cards. Firstly I get at least 1% back on all of my cards for anything type of purchase but the best part is it organizes my monthly cash flow nicely. I can keep money in savings or investment accounts most of the month and move money to checking to pay the CC's off before the bills are due. I don't have to worry about just how much I have in my checking account when I make a purchase.

No easy ways because people would abuse the system. I've heard of people buying gift cards and then cashing those in?? but not sure how (and hear lots of horror stories aboit buying gift cards only to find them empty.) So...

With a credit score of around 800 you should have no problem getting an increase. I’d say request 5k and see what they come back with. Keep what you’re doing and that utilization factor will be off the radar on a month to month basis.

Glad it worked out.

Annualized - yes. Which means 40 cents over the course of 1 year, or 3 cents per month. On $10k that would be $33.33 per month. While $10k at 0.90% would be $7.50 per month.

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So I'm not sure if my understanding of how this works is right. Say I put 10$ in an account with a 4% yield does that ill get 40 cent return on that investment?

Don't sweat it. You're fine. Credit scores fluctuate. As long as you're paying your bills in full and on time, you're good. There will come a time when the score is more important, like if you apply for a mortgage. Till then, don't worry about it.

Funny that you asked. I just got 30 fixed. My parents told me me that in 2013 they got ARM at 3%. Thankfully they were able to payoff the house before it. Out of curiosity i looked up the difference between 3% and 6% on my mortgage. It's over $1000. Whether you are comfortable with huge rise in monthly payment, it's up to you. Obviously after some years you would have paid of some of the loan so the jump wouldn't be as drastic. What was much more interesting is searching ARM on r/personalfinance. 2-3 year ago, we got lots of comments how the rates will never go up.

I don't know what the common wisdom is. I know that if i were to go with ARM, I would run some more math. Personally, i don't believe when people say "you can always refinance". I was told that by many. What i do wonder is what can I refinance to? When will i look to refinance? Will i look to refinance when rates are going up? Will i look to refinance when the market is in a "gully"?

Not really. Your can get 4% ish in a high yield savings account, money market fund, CD or even T bills.

What are the cons to using this as a savings account seems like it’s all upsides?

No. Capital One gives 3.4 for everything in a savings account. Others are higher. SPAXX is 4.4.

>a taxable account ... with having the added benefit of being able withdraw money from my taxable account much earlier?

I think you probably know this, but you can withdraw your contributions from your Roth IRA without any penalty any time. It's just the earnings that have restrictions on when they can be taken out without penalty.

Let's be honest, credit is a scam. That number should not control your life. I will say if you use credit that is fine, but the expectation is you also pay it off and not accumulate more debt.

Fk I'm gonna delete these. I can't go back to paying for my groceries cause everyone just read that shit. You get the point, whatever that was. I forgot.

You do not need a new card, but if you aren’t getting good rewards on your back card, you may want to apply for a different cash back card

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Great job with your credit! Perhaps shop around for a second CC. Look for good cash-back offers. Sometimes one card is better for buying gas, while another is better when eating out. Also, sometimes there are offers that only apply to Visa or MC, so it's nice to have one of each.