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Do NOT swipe at your own, or a related business.

Amex
- Ramp up slowly to avoid a FR

Chase
- No MO deposits
- No payments made by third parties


Barclay
- Cycling CL
« Last edited by Yehuda25 on January 07, 2019, 11:28:35 PM »

Author Topic: The "Don't Dos" of Credit Cards  (Read 10712 times)

Offline TimT

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Re: The "Don't Dos" of Credit Cards
« Reply #60 on: September 03, 2019, 06:36:34 PM »
Min due they make money. You really think a bounced payment is not worse than min due? I am not sure why you think min due is a risk.
You've been making on time payments in full for years & you slipped up once. That’s a bigger red flag to them then somebody who consistently can’t pay up ? They’ve shut people down because of 1 returned payment even though they’ve been model customers for years.

Offline CountValentine

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Re: The "Don't Dos" of Credit Cards
« Reply #61 on: September 03, 2019, 11:18:23 PM »
You've been making on time payments in full for years & you slipped up once. That’s a bigger red flag to them then somebody who consistently can’t pay up ? They’ve shut people down because of 1 returned payment even though they’ve been model customers for years.
You make a wrong assumption that paying the min means someone can't pay up.
You're so far up Trump's a** you can see Giuliani's feet.  HT Baruch

Offline TimT

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Re: The "Don't Dos" of Credit Cards
« Reply #62 on: September 03, 2019, 11:23:30 PM »
You make a wrong assumption that paying the min means someone can't pay up.
So switch “can’t” for “doesn’t”. My point remains the same.

Offline Mootkim

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Re: The "Don't Dos" of Credit Cards
« Reply #63 on: September 04, 2019, 12:03:14 AM »
I still don't get why cycling through your credit is bad. You are in essence paying back your loan early and just taking it out again. If the credit limit is saying that they are not willing to risk more than that set amount, they are not risking more than that if you returned some of the loan by paying.

Offline mmgfarb

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Re: The "Don't Dos" of Credit Cards
« Reply #64 on: September 04, 2019, 12:05:10 AM »
I still don't get why cycling through your credit is bad. You are in essence paying back your loan early and just taking it out again. If the credit limit is saying that they are not willing to risk more than that set amount, they are not risking more than that if you returned some of the loan by paying.
Tell it to the banks.
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Offline Dan

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Re: The "Don't Dos" of Credit Cards
« Reply #65 on: September 04, 2019, 12:09:03 AM »
Chargeback risk for one.
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

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Re: The "Don't Dos" of Credit Cards
« Reply #66 on: September 04, 2019, 10:26:38 AM »
So switch “can’t” for “doesn’t”. My point remains the same.
Yup and it is still flawed.
You're so far up Trump's a** you can see Giuliani's feet.  HT Baruch

Offline AussieMan

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Re: The "Don't Dos" of Credit Cards
« Reply #67 on: September 04, 2019, 12:51:05 PM »
Why are you a bigger risk to a bank with a returned payment then if you only pay the minimum due ?
Minimum due is what they want.
They make the most on interest that way.

Offline TimT

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Re: The "Don't Dos" of Credit Cards
« Reply #68 on: September 04, 2019, 01:09:28 PM »
Minimum due is what they want.
They make the most on interest that way.
If you ever pay it up. If you keep doing minimum payments how do they ever make any money off you ?

Offline Ergel

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Re: The "Don't Dos" of Credit Cards
« Reply #69 on: September 04, 2019, 01:15:20 PM »
If you ever pay it up. If you keep doing minimum payments how do they ever make any money off you ?
Huh?
Life isn't about checking the boxes. Nobody cares.

Offline TimT

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Re: The "Don't Dos" of Credit Cards
« Reply #70 on: September 04, 2019, 01:48:56 PM »
Huh?
A co-worker of mine has large cc bills, he pays a little here & there.  The banks are always calling him but they have yet to shut a card of his. Now take someone else who’s had a great relationship with the bank for years. Once he made a payment not realizing that a check deposited days earlier hadn’t cleared yet. Relationship over. Who’s a bigger risk ?

Offline grodnoking

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Re: The "Don't Dos" of Credit Cards
« Reply #71 on: September 04, 2019, 02:23:04 PM »
A co-worker of mine has large cc bills, he pays a little here & there.  The banks are always calling him but they have yet to shut a card of his. Now take someone else who’s had a great relationship with the bank for years. Once he made a payment not realizing that a check deposited days earlier hadn’t cleared yet. Relationship over. Who’s a bigger risk ?
Not only have they never made much money off the second guy, they are now afraid his business went sour and he won't be able to pay them back. Otoh the first guy has been making them a bloody fortune for years, why would they shut him down?!
I'm not who you think I am.

Offline TimT

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Re: The "Don't Dos" of Credit Cards
« Reply #72 on: September 04, 2019, 02:41:41 PM »
Not only have they never made much money off the second guy, they are now afraid his business went sour and he won't be able to pay them back. Otoh the first guy has been making them a bloody fortune for years, why would they shut him down?!
Because many of these people out there swiping have no way to ever pay it down. OTOH the 2nd guy had it paid up as soon as he realized what happened.

Offline chinagel

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Re: The "Don't Dos" of Credit Cards
« Reply #73 on: September 04, 2019, 02:47:34 PM »
Because many of these people out there swiping have no way to ever pay it down. OTOH the 2nd guy had it paid up as soon as he realized what happened.
They don't want you to pay it down, just to pay.

Offline TimT

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Re: The "Don't Dos" of Credit Cards
« Reply #74 on: September 04, 2019, 02:56:50 PM »
They don't want you to pay it down, just to pay.
I understand all that, I’m just a little surprised at them shutting great customers down for a 1-time offense, even if it was fixed immediately. There could be many other reasons besides business going under. I understand it if it happens numerous times. They have other options, including slashing the CL.

Offline hvaces42

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Re: The "Don't Dos" of Credit Cards
« Reply #75 on: September 04, 2019, 03:47:14 PM »
I understand all that, I’m just a little surprised at them shutting great customers down for a 1-time offense, even if it was fixed immediately. There could be many other reasons besides business going under. I understand it if it happens numerous times. They have other options, including slashing the CL.
Your mistake is that you categorize the second one as a great customer. He's a terrible customer.
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Offline TimT

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Re: The "Don't Dos" of Credit Cards
« Reply #76 on: September 04, 2019, 04:38:02 PM »
Your mistake is that you categorize the second one as a great customer. He's a terrible customer.
Thats not what they say at the end of the phone call. :)
But seriously, are you saying they’re looking for any reason to shut us all down ? Then why keep approving more cards & credit ? They know we’re not going to become “good” customers with another 4 cards.

Offline AussieMan

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Re: The "Don't Dos" of Credit Cards
« Reply #77 on: September 04, 2019, 08:04:04 PM »
They know we’re not going to become “good” customers with another 4 cards.
Possibly. But you are likely to eventually have debt. And then the more cards you have the more.likely that one of rhem will have the debt.
Unfortunately, many people have debt on higher Apr cards which earn points, even if they have other lines of credit available with lower interest rates.

Offline pointer

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Re: The "Don't Dos" of Credit Cards
« Reply #78 on: September 05, 2019, 01:38:05 PM »
How about lowering CL below $1800.........Shutdown risk?

Offline yosefsv

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Re: The "Don't Dos" of Credit Cards
« Reply #79 on: September 05, 2019, 01:40:41 PM »
How about lowering CL below $1800.........Shutdown risk?
Does it still work?
If it benefits even just one fellow DDFer, its worth posting it.