RANT--Credit Cards

[Jspafford]

Idiots... I have a good share of credit cards all but one carry a zero balance. So the other day I get a 0% offer in the mail, the amount on my card is not enough to cover what I want to transfer. So I call them.

I go in tonight, and one card of theirs dropped from $12,100 limit to $3,500, and the other card of theirs dropped from $7,900 to $3,500.

So I just called up and canceled them both. I will pay my interest somewhere else!!

The government gave them a whole crap pile of our money, and now they take it away from us.



RANT OFF!

 

[superdave1984]

You do know that you just dropped your credit score by doing that.

 

[Jay FX4]

Why do you have/need "a good share of credit cards"?

 

[Chance]

Why do you have/need "a good share of credit cards"?

I would agree... but you accumulate these things like gas cards and sears cards, etc. over a number of years and even if you don't use em, you're too lazy to cancel em. I only have one now though cuz I got a 6% flat rate and I aint ever giving it up

 

[warrior24]

You do know that you just dropped your credit score by doing that.

+1

 

[scotts90ranger]

I can't even get a credit card... never had one, get declined when I apply (even through my bank that I've had an account with for almost 10 years) because I don't have enough credit... makes lots of sense... frankly don't need one but need to build credit

 

[Sasquatch_Ryda]

Yea I didn't have any credit so I couldn't get a credit card when I was 19, but I did manage to get a $120,000 mortgage.....weird eh. Guess what I got with the mortgage? A credit card.

 

[Coleosis]

I don't have a credit card, nor do i want one....too many people get screwed by them. Be it their fault, or the fault of the shady CC company....I still dont want to take that chance. I know Chase has a tendancy to screw people.

 

[racsan]

it took me almost 10 years to get 2 cards paid off. i still have one, but with no balance and dont use it unless its a emergency.

 

[Jason]

Depending on number of cards, he may have helped his score. Too many open "revolving" accounts can severely damage your income to debt ratio because of how those accounts are viewed.

 

[Jspafford]

I did the balance transfer bouncing a while back. It saved me a buttload in deferred interest.

If anyone knew me in person, I am not the kind of person who will just go out and blow money. Therefore I do not worry about using them all.

I don't get it either, I just bought a 100K house in my name only, 3 months later bought a 10K car for the wife in my name only, both I have never missed a payment on. Meanwhile I have a stack of 0 balance cards...

If they don't call that responsible, piss on them.

I could care less about the beacon score... I wouldn't spend another dime on interest for them.

 

[LearjetMinako]

I'm a loyal kind of person. When one company does right to me, I stick with them through tougher times. NFCU was the only willing enough to open a credit card for me. After 6 years with them, no late bills, always on time, other CC companys want me now their side. But with a $3,500 limit at 5.9% (I never really exceed $1,000), I feel no need to switch. Besides, I have never once paid $.01 cents in interest.

 

[Mark_88]

Ouch...my credit score is probably lower than a knuckle~dragging apes IQ...but I still got two of them...I call one Max and the other Mad Max...if I can ever pay them off I'm gonna chew them both up and crap out of the credit rat race...

 

[Jason]

Using credit cards is bad, mmmkay? Seriously. Don't take out a loan for anything but a house unless you are earning more interest than you will be expected to pay. Car loans are just as bad as credit cards too unless its a really good promo rate on a USED car that already took the initial depreciation.

 

[press 1 for english]

I would agree... but you accumulate these things like gas cards and sears cards, etc. over a number of years and even if you don't use em, you're too lazy to cancel em. I only have one now though cuz I got a 6% flat rate and I aint ever giving it up

If you have cards and don't use them for years, the CC companies will eventually close out inactive accounts.
If you have 6 ccs and only use 1, your credit score will reflect all this available credit as a negative thing.