Credit Cards Closing Accounts

[donaldduckmoore]

I was told by the card company that it won’t affect my credit score. That is another lie from the bank. Down with the banks.

[afx114]

[quote=UCGal]
It’s not as profitable to have customers that don’t carry a balance, but if those customers use the cards, they still make money… and there’s less risk.[/quote]

I am aware that they make a merchant fee, but aparently it’s not enough because they just jacked my rate from 7% to 19.99% to no apparent reason. Then 2 weeks later they raised limit by 5k. Where is the logic in that? Do they think that if I lose my job I’ll be forced to max out my card — at which point I’ll owe them 20% — which I will pay for with the job that I just lost? I’m no accountant so maybe I have no idea what I’m talking about, but it sounds like they’re throwing shit everywhere to see what sticks.

[afx114]

[quote=UCGal]
It’s not as profitable to have customers that don’t carry a balance, but if those customers use the cards, they still make money… and there’s less risk.[/quote]

I am aware that they make a merchant fee, but aparently it’s not enough because they just jacked my rate from 7% to 19.99% to no apparent reason. Then 2 weeks later they raised limit by 5k. Where is the logic in that? Do they think that if I lose my job I’ll be forced to max out my card — at which point I’ll owe them 20% — which I will pay for with the job that I just lost? I’m no accountant so maybe I have no idea what I’m talking about, but it sounds like they’re throwing shit everywhere to see what sticks.

[afx114]

[quote=UCGal]
It’s not as profitable to have customers that don’t carry a balance, but if those customers use the cards, they still make money… and there’s less risk.[/quote]

I am aware that they make a merchant fee, but aparently it’s not enough because they just jacked my rate from 7% to 19.99% to no apparent reason. Then 2 weeks later they raised limit by 5k. Where is the logic in that? Do they think that if I lose my job I’ll be forced to max out my card — at which point I’ll owe them 20% — which I will pay for with the job that I just lost? I’m no accountant so maybe I have no idea what I’m talking about, but it sounds like they’re throwing shit everywhere to see what sticks.

[afx114]

[quote=UCGal]
It’s not as profitable to have customers that don’t carry a balance, but if those customers use the cards, they still make money… and there’s less risk.[/quote]

I am aware that they make a merchant fee, but aparently it’s not enough because they just jacked my rate from 7% to 19.99% to no apparent reason. Then 2 weeks later they raised limit by 5k. Where is the logic in that? Do they think that if I lose my job I’ll be forced to max out my card — at which point I’ll owe them 20% — which I will pay for with the job that I just lost? I’m no accountant so maybe I have no idea what I’m talking about, but it sounds like they’re throwing shit everywhere to see what sticks.

[afx114]

[quote=UCGal]
It’s not as profitable to have customers that don’t carry a balance, but if those customers use the cards, they still make money… and there’s less risk.[/quote]

I am aware that they make a merchant fee, but aparently it’s not enough because they just jacked my rate from 7% to 19.99% to no apparent reason. Then 2 weeks later they raised limit by 5k. Where is the logic in that? Do they think that if I lose my job I’ll be forced to max out my card — at which point I’ll owe them 20% — which I will pay for with the job that I just lost? I’m no accountant so maybe I have no idea what I’m talking about, but it sounds like they’re throwing shit everywhere to see what sticks.

[UCGal]

[quote=afx114][quote=UCGal]
It’s not as profitable to have customers that don’t carry a balance, but if those customers use the cards, they still make money… and there’s less risk.[/quote]

I am aware that they make a merchant fee, but aparently it’s not enough because they just jacked my rate from 7% to 19.99% to no apparent reason. Then 2 weeks later they raised limit by 5k. Where is the logic in that? Do they think that if I lose my job I’ll be forced to max out my card — at which point I’ll owe them 20% — which I will pay for with the job that I just lost? I’m no accountant so maybe I have no idea what I’m talking about, but it sounds like they’re throwing shit everywhere to see what sticks.[/quote]

I hope that’s not the trend. I have 2 cards, use one infrequently and use the other often… pay them off in full each statement. I really don’t care what the rates are since I pay it off (and therefore never pay interest.) But the limits might inpact… there are months I have pretty high charges.

[UCGal]

[quote=afx114][quote=UCGal]
It’s not as profitable to have customers that don’t carry a balance, but if those customers use the cards, they still make money… and there’s less risk.[/quote]

I am aware that they make a merchant fee, but aparently it’s not enough because they just jacked my rate from 7% to 19.99% to no apparent reason. Then 2 weeks later they raised limit by 5k. Where is the logic in that? Do they think that if I lose my job I’ll be forced to max out my card — at which point I’ll owe them 20% — which I will pay for with the job that I just lost? I’m no accountant so maybe I have no idea what I’m talking about, but it sounds like they’re throwing shit everywhere to see what sticks.[/quote]

I hope that’s not the trend. I have 2 cards, use one infrequently and use the other often… pay them off in full each statement. I really don’t care what the rates are since I pay it off (and therefore never pay interest.) But the limits might inpact… there are months I have pretty high charges.

[UCGal]

[quote=afx114][quote=UCGal]
It’s not as profitable to have customers that don’t carry a balance, but if those customers use the cards, they still make money… and there’s less risk.[/quote]

I am aware that they make a merchant fee, but aparently it’s not enough because they just jacked my rate from 7% to 19.99% to no apparent reason. Then 2 weeks later they raised limit by 5k. Where is the logic in that? Do they think that if I lose my job I’ll be forced to max out my card — at which point I’ll owe them 20% — which I will pay for with the job that I just lost? I’m no accountant so maybe I have no idea what I’m talking about, but it sounds like they’re throwing shit everywhere to see what sticks.[/quote]

I hope that’s not the trend. I have 2 cards, use one infrequently and use the other often… pay them off in full each statement. I really don’t care what the rates are since I pay it off (and therefore never pay interest.) But the limits might inpact… there are months I have pretty high charges.

[UCGal]

[quote=afx114][quote=UCGal]
It’s not as profitable to have customers that don’t carry a balance, but if those customers use the cards, they still make money… and there’s less risk.[/quote]

I am aware that they make a merchant fee, but aparently it’s not enough because they just jacked my rate from 7% to 19.99% to no apparent reason. Then 2 weeks later they raised limit by 5k. Where is the logic in that? Do they think that if I lose my job I’ll be forced to max out my card — at which point I’ll owe them 20% — which I will pay for with the job that I just lost? I’m no accountant so maybe I have no idea what I’m talking about, but it sounds like they’re throwing shit everywhere to see what sticks.[/quote]

I hope that’s not the trend. I have 2 cards, use one infrequently and use the other often… pay them off in full each statement. I really don’t care what the rates are since I pay it off (and therefore never pay interest.) But the limits might inpact… there are months I have pretty high charges.

[UCGal]

[quote=afx114][quote=UCGal]
It’s not as profitable to have customers that don’t carry a balance, but if those customers use the cards, they still make money… and there’s less risk.[/quote]

I am aware that they make a merchant fee, but aparently it’s not enough because they just jacked my rate from 7% to 19.99% to no apparent reason. Then 2 weeks later they raised limit by 5k. Where is the logic in that? Do they think that if I lose my job I’ll be forced to max out my card — at which point I’ll owe them 20% — which I will pay for with the job that I just lost? I’m no accountant so maybe I have no idea what I’m talking about, but it sounds like they’re throwing shit everywhere to see what sticks.[/quote]

I hope that’s not the trend. I have 2 cards, use one infrequently and use the other often… pay them off in full each statement. I really don’t care what the rates are since I pay it off (and therefore never pay interest.) But the limits might inpact… there are months I have pretty high charges.

[jpinpb]

I thought too many credit cards is essentially exposing your potential credit liability and you don’t want to have that too high.

[jpinpb]

I thought too many credit cards is essentially exposing your potential credit liability and you don’t want to have that too high.

[jpinpb]

I thought too many credit cards is essentially exposing your potential credit liability and you don’t want to have that too high.

[jpinpb]

I thought too many credit cards is essentially exposing your potential credit liability and you don’t want to have that too high.

[Author]

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