Let the balance chasing begin!

[Credit Matters]

AMEX did their first cut in february. Since then, I had decided to keep my balance high, to "avoid" further balance chasing.

 

It's been a while, and I really don't want to carry that much balance anymore. Even if it means losing the limit, I have been paying more then usual.

 

I normally keep my balance around $4000, but took it down to $3700 on my last payment. As expected, my limit was cut to $3900.

 

I expect this will continue, and I am no longer worried about it. As long as they don't close the card or go lower then my original limit ($1000). I am currently seeking a balance transfer to another card.

 

Once I pay off the card, I will be converting to a PIF strategy. Without having a larger limit available, I will no longer be tempted to over use the card.

 

AMEX had claimed that they will only do this every 6 months, which we all know isn't true. We will see what happens next month.

...and I was supposed to take my 96.1% CLD with a GUARANTEE that the BEST OF BREED would never cut me more???

 

BALANCE CHASING IS JUST WRONG NO MATTER IF IT IS THEIR MONEY or NOT

 

Are you going to DUMP THEM before you lose more???

 

 

I don't care who balance chases. It's not wrong. It's called risk mitigation.

[GEORGE]

Just got the ax myself, from $1,000 to $5,000 down to $600. Call to inquire receive the same script your credit report change, but you are an excellent customer with AE. Nothing change! CRS states to fax in my credit report, I'm like you already have it. So I call to cancel my CS, the CSR goes on to say that it is important to monitor your credit report and so on, why do you want to cancel it, I kindly stated "just because". I also told the kind CSR that apparently AE does not value me as an excellent customer, and I don't value them either.

Dumping CS does nothing

 

Close the account totally...still they WON'T care

[GEORGE]

Summary;

 

Amex = best of breed for chargecard perks, worst of worst for revolving a balance.

 

They know when they have you trapped in a box, and they'll keep you there if you let them.

 

I've been reading the advice of not to carry a balance with AMEX since I joined and am surprised every time I hear about someone carrying a balance with them. It's been clear all along that they have their roots in charge card products, and expect their customers to treat credit cards as though they're charge cards.

 

When you PIF, you maintain control. There isn't a whole lot they can do to you. When you carry a balance you leave yourself open to their shenanigans.

100% PIF AMEX...I lost 96.1%

 

I had lots of control didn't I

[Curious]

AMEX did their first cut in february. Since then, I had decided to keep my balance high, to "avoid" further balance chasing.

 

It's been a while, and I really don't want to carry that much balance anymore. Even if it means losing the limit, I have been paying more then usual.

 

I normally keep my balance around $4000, but took it down to $3700 on my last payment. As expected, my limit was cut to $3900.

 

I expect this will continue, and I am no longer worried about it. As long as they don't close the card or go lower then my original limit ($1000). I am currently seeking a balance transfer to another card.

 

Once I pay off the card, I will be converting to a PIF strategy. Without having a larger limit available, I will no longer be tempted to over use the card.

 

AMEX had claimed that they will only do this every 6 months, which we all know isn't true. We will see what happens next month.

...and I was supposed to take my 96.1% CLD with a GUARANTEE that the BEST OF BREED would never cut me more???

 

BALANCE CHASING IS JUST WRONG NO MATTER IF IT IS THEIR MONEY or NOT

 

Are you going to DUMP THEM before you lose more???

 

 

I don't care who balance chases. It's not wrong. It's called risk mitigation.

It may be risk mitigation but it hurts the consumer as they appear maxed out at all times, thus lowering their score thus causing AA from other creditors.

[Credit Matters]

AMEX did their first cut in february. Since then, I had decided to keep my balance high, to "avoid" further balance chasing.

 

It's been a while, and I really don't want to carry that much balance anymore. Even if it means losing the limit, I have been paying more then usual.

 

I normally keep my balance around $4000, but took it down to $3700 on my last payment. As expected, my limit was cut to $3900.

 

I expect this will continue, and I am no longer worried about it. As long as they don't close the card or go lower then my original limit ($1000). I am currently seeking a balance transfer to another card.

 

Once I pay off the card, I will be converting to a PIF strategy. Without having a larger limit available, I will no longer be tempted to over use the card.

 

AMEX had claimed that they will only do this every 6 months, which we all know isn't true. We will see what happens next month.

...and I was supposed to take my 96.1% CLD with a GUARANTEE that the BEST OF BREED would never cut me more???

 

BALANCE CHASING IS JUST WRONG NO MATTER IF IT IS THEIR MONEY or NOT

 

Are you going to DUMP THEM before you lose more???

 

 

I don't care who balance chases. It's not wrong. It's called risk mitigation.

It may be risk mitigation but it hurts the consumer as they appear maxed out at all times, thus lowering their score thus causing AA from other creditors.

 

I've probably said that a dozen times. It does not help the consumer at all. Very much hurts them. I was taking issue with GEORGE's comment that this is just wrong -- no matter if it's their money or not.

[TheChosenOne]

Summary;

 

Amex = best of breed for chargecard perks, worst of worst for revolving a balance.

 

They know when they have you trapped in a box, and they'll keep you there if you let them.

 

You could easily change that to "charge card accounts period" IMO

Specifically?

 

Are you suggesting all charge cards across the board or strictly with Amex?

 

I'm curious on your opinion on this TheChosenOne.

 

Whoops... I meant "credit", not "charge" cards.

 

I don't have an Amex charge card, so no idea how they treat people with those. I can agree with several other posters about the fact they should have stayed out of the credit industry and stuck with charge cards.

[GEORGE]

AMEX did their first cut in february. Since then, I had decided to keep my balance high, to "avoid" further balance chasing.

 

It's been a while, and I really don't want to carry that much balance anymore. Even if it means losing the limit, I have been paying more then usual.

 

I normally keep my balance around $4000, but took it down to $3700 on my last payment. As expected, my limit was cut to $3900.

 

I expect this will continue, and I am no longer worried about it. As long as they don't close the card or go lower then my original limit ($1000). I am currently seeking a balance transfer to another card.

 

Once I pay off the card, I will be converting to a PIF strategy. Without having a larger limit available, I will no longer be tempted to over use the card.

 

AMEX had claimed that they will only do this every 6 months, which we all know isn't true. We will see what happens next month.

...and I was supposed to take my 96.1% CLD with a GUARANTEE that the BEST OF BREED would never cut me more???

 

BALANCE CHASING IS JUST WRONG NO MATTER IF IT IS THEIR MONEY or NOT

 

Are you going to DUMP THEM before you lose more???

 

 

I don't care who balance chases. It's not wrong. It's called risk mitigation.

It may be risk mitigation but it hurts the consumer as they appear maxed out at all times, thus lowering their score thus causing AA from other creditors.

...and when there is ZERO RISK???

Edited September 25, 2008 by GEORGE

[Credit Matters]

AMEX did their first cut in february. Since then, I had decided to keep my balance high, to "avoid" further balance chasing.

 

It's been a while, and I really don't want to carry that much balance anymore. Even if it means losing the limit, I have been paying more then usual.

 

I normally keep my balance around $4000, but took it down to $3700 on my last payment. As expected, my limit was cut to $3900.

 

I expect this will continue, and I am no longer worried about it. As long as they don't close the card or go lower then my original limit ($1000). I am currently seeking a balance transfer to another card.

 

Once I pay off the card, I will be converting to a PIF strategy. Without having a larger limit available, I will no longer be tempted to over use the card.

 

AMEX had claimed that they will only do this every 6 months, which we all know isn't true. We will see what happens next month.

...and I was supposed to take my 96.1% CLD with a GUARANTEE that the BEST OF BREED would never cut me more???

 

BALANCE CHASING IS JUST WRONG NO MATTER IF IT IS THEIR MONEY or NOT

 

Are you going to DUMP THEM before you lose more???

 

 

I don't care who balance chases. It's not wrong. It's called risk mitigation.

It may be risk mitigation but it hurts the consumer as they appear maxed out at all times, thus lowering their score thus causing AA from other creditors.

...and when there is ZERO RISK???

 

I thought OP had a collection. And a score of less than 650. And carried a balance.

 

No risk?

[Curious]

AMEX did their first cut in february. Since then, I had decided to keep my balance high, to "avoid" further balance chasing.

 

It's been a while, and I really don't want to carry that much balance anymore. Even if it means losing the limit, I have been paying more then usual.

 

I normally keep my balance around $4000, but took it down to $3700 on my last payment. As expected, my limit was cut to $3900.

 

I expect this will continue, and I am no longer worried about it. As long as they don't close the card or go lower then my original limit ($1000). I am currently seeking a balance transfer to another card.

 

Once I pay off the card, I will be converting to a PIF strategy. Without having a larger limit available, I will no longer be tempted to over use the card.

 

AMEX had claimed that they will only do this every 6 months, which we all know isn't true. We will see what happens next month.

...and I was supposed to take my 96.1% CLD with a GUARANTEE that the BEST OF BREED would never cut me more???

 

BALANCE CHASING IS JUST WRONG NO MATTER IF IT IS THEIR MONEY or NOT

 

Are you going to DUMP THEM before you lose more???

 

 

I don't care who balance chases. It's not wrong. It's called risk mitigation.

It may be risk mitigation but it hurts the consumer as they appear maxed out at all times, thus lowering their score thus causing AA from other creditors.

...and when there is ZERO RISK???

Why are you asking me? I didn't say it was risk mitigation, Creditmatters did. Ask him.

[Credit Matters]

AMEX did their first cut in february. Since then, I had decided to keep my balance high, to "avoid" further balance chasing.

 

It's been a while, and I really don't want to carry that much balance anymore. Even if it means losing the limit, I have been paying more then usual.

 

I normally keep my balance around $4000, but took it down to $3700 on my last payment. As expected, my limit was cut to $3900.

 

I expect this will continue, and I am no longer worried about it. As long as they don't close the card or go lower then my original limit ($1000). I am currently seeking a balance transfer to another card.

 

Once I pay off the card, I will be converting to a PIF strategy. Without having a larger limit available, I will no longer be tempted to over use the card.

 

AMEX had claimed that they will only do this every 6 months, which we all know isn't true. We will see what happens next month.

...and I was supposed to take my 96.1% CLD with a GUARANTEE that the BEST OF BREED would never cut me more???

 

BALANCE CHASING IS JUST WRONG NO MATTER IF IT IS THEIR MONEY or NOT

 

Are you going to DUMP THEM before you lose more???

 

 

I don't care who balance chases. It's not wrong. It's called risk mitigation.

It may be risk mitigation but it hurts the consumer as they appear maxed out at all times, thus lowering their score thus causing AA from other creditors.

...and when there is ZERO RISK???

Why are you asking me? I didn't say it was risk mitigation, Creditmatters did. Ask him.

 

Curious followed me. Ask her.

[Curious]

AMEX did their first cut in february. Since then, I had decided to keep my balance high, to "avoid" further balance chasing.

 

It's been a while, and I really don't want to carry that much balance anymore. Even if it means losing the limit, I have been paying more then usual.

 

I normally keep my balance around $4000, but took it down to $3700 on my last payment. As expected, my limit was cut to $3900.

 

I expect this will continue, and I am no longer worried about it. As long as they don't close the card or go lower then my original limit ($1000). I am currently seeking a balance transfer to another card.

 

Once I pay off the card, I will be converting to a PIF strategy. Without having a larger limit available, I will no longer be tempted to over use the card.

 

AMEX had claimed that they will only do this every 6 months, which we all know isn't true. We will see what happens next month.

...and I was supposed to take my 96.1% CLD with a GUARANTEE that the BEST OF BREED would never cut me more???

 

BALANCE CHASING IS JUST WRONG NO MATTER IF IT IS THEIR MONEY or NOT

 

Are you going to DUMP THEM before you lose more???

 

 

I don't care who balance chases. It's not wrong. It's called risk mitigation.

It may be risk mitigation but it hurts the consumer as they appear maxed out at all times, thus lowering their score thus causing AA from other creditors.

...and when there is ZERO RISK???

Why are you asking me? I didn't say it was risk mitigation, Creditmatters did. Ask him.

 

Curious followed me. Ask her.

[GEORGE]

AMEX did their first cut in february. Since then, I had decided to keep my balance high, to "avoid" further balance chasing.

 

It's been a while, and I really don't want to carry that much balance anymore. Even if it means losing the limit, I have been paying more then usual.

 

I normally keep my balance around $4000, but took it down to $3700 on my last payment. As expected, my limit was cut to $3900.

 

I expect this will continue, and I am no longer worried about it. As long as they don't close the card or go lower then my original limit ($1000). I am currently seeking a balance transfer to another card.

 

Once I pay off the card, I will be converting to a PIF strategy. Without having a larger limit available, I will no longer be tempted to over use the card.

 

AMEX had claimed that they will only do this every 6 months, which we all know isn't true. We will see what happens next month.

...and I was supposed to take my 96.1% CLD with a GUARANTEE that the BEST OF BREED would never cut me more???

 

BALANCE CHASING IS JUST WRONG NO MATTER IF IT IS THEIR MONEY or NOT

 

Are you going to DUMP THEM before you lose more???

 

 

I don't care who balance chases. It's not wrong. It's called risk mitigation.

It may be risk mitigation but it hurts the consumer as they appear maxed out at all times, thus lowering their score thus causing AA from other creditors.

...and when there is ZERO RISK???

Why are you asking me? I didn't say it was risk mitigation, Creditmatters did. Ask him.

I have that poster on IGNORE...so I would have to UN-IGNORE respond and then RE-IGNORE

 

Sorry for borrowing your post

 

[Curious]

AMEX did their first cut in february. Since then, I had decided to keep my balance high, to "avoid" further balance chasing.

 

It's been a while, and I really don't want to carry that much balance anymore. Even if it means losing the limit, I have been paying more then usual.

 

I normally keep my balance around $4000, but took it down to $3700 on my last payment. As expected, my limit was cut to $3900.

 

I expect this will continue, and I am no longer worried about it. As long as they don't close the card or go lower then my original limit ($1000). I am currently seeking a balance transfer to another card.

 

Once I pay off the card, I will be converting to a PIF strategy. Without having a larger limit available, I will no longer be tempted to over use the card.

 

AMEX had claimed that they will only do this every 6 months, which we all know isn't true. We will see what happens next month.

...and I was supposed to take my 96.1% CLD with a GUARANTEE that the BEST OF BREED would never cut me more???

 

BALANCE CHASING IS JUST WRONG NO MATTER IF IT IS THEIR MONEY or NOT

 

Are you going to DUMP THEM before you lose more???

 

 

I don't care who balance chases. It's not wrong. It's called risk mitigation.

It may be risk mitigation but it hurts the consumer as they appear maxed out at all times, thus lowering their score thus causing AA from other creditors.

...and when there is ZERO RISK???

Why are you asking me? I didn't say it was risk mitigation, Creditmatters did. Ask him.

I have that poster on IGNORE...so I would have to UN-IGNORE respond and then RE-IGNORE

 

Sorry for borrowing your post

 

It's OK.

[rpina1]

Please guys, let's not turn this into a huge debate. I am just reporting my results and what the aftermath will be.

 

Mods, help me out here.

[Credit Matters]

AMEX did their first cut in february. Since then, I had decided to keep my balance high, to "avoid" further balance chasing.

 

It's been a while, and I really don't want to carry that much balance anymore. Even if it means losing the limit, I have been paying more then usual.

 

I normally keep my balance around $4000, but took it down to $3700 on my last payment. As expected, my limit was cut to $3900.

 

I expect this will continue, and I am no longer worried about it. As long as they don't close the card or go lower then my original limit ($1000). I am currently seeking a balance transfer to another card.

 

Once I pay off the card, I will be converting to a PIF strategy. Without having a larger limit available, I will no longer be tempted to over use the card.

 

AMEX had claimed that they will only do this every 6 months, which we all know isn't true. We will see what happens next month.

...and I was supposed to take my 96.1% CLD with a GUARANTEE that the BEST OF BREED would never cut me more???

 

BALANCE CHASING IS JUST WRONG NO MATTER IF IT IS THEIR MONEY or NOT

 

Are you going to DUMP THEM before you lose more???

 

 

I don't care who balance chases. It's not wrong. It's called risk mitigation.

It may be risk mitigation but it hurts the consumer as they appear maxed out at all times, thus lowering their score thus causing AA from other creditors.

...and when there is ZERO RISK???

Why are you asking me? I didn't say it was risk mitigation, Creditmatters did. Ask him.

I have that poster on IGNORE...so I would have to UN-IGNORE respond and then RE-IGNORE

 

Sorry for borrowing your post

 

 

You're missing some good stuff, GEORGE.

 

You should unignore me.

 

But if you don't like to be challenged -- when you make comments that should be challenged -- then go ahead and leave me on ignore.

[GEORGE]

Please guys, let's not turn this into a huge debate. I am just reporting my results and what the aftermath will be.

 

Mods, help me out here.

Huhhhh???

 

Balance chasing is nothing but RUDE...and bordering on SUB-PRIME STYLE

Edited September 25, 2008 by GEORGE

[Credit Matters]

Please guys, let's not turn this into a huge debate. I am just reporting my results and what the aftermath will be.

 

Mods, help me out here.

Huhhhh???

 

Balance chasing is nothing but RUDE...and bordering on SUB-PRIME STYLE

 

GEORGE, you should open your own bank.

 

You could be the happy bank where there is nothing but CLIs, 0% rates, and no due dates.

[Big Bear]

Nice one, CM. I won't quote you just to keep someone in the dark for at least a couple more posts. Out of all members, I thought you'd be one of the last to make the ignore list.

[Big Bear]

Please guys, let's not turn this into a huge debate. I am just reporting my results and what the aftermath will be.

 

Mods, help me out here.

Huhhhh???

 

Balance chasing is nothing but RUDE...and bordering on SUB-PRIME STYLE

 

My issue with what they are doing is due to a risk model, that to us seems flawed at times. I'm sure they aren't highering unintelligent people to run the calculations on the models, so actions that some of us take end up being categorized as higher risk, and thus we think it's unfair.

 

At the end of the day they are probably catching a lot more people that would have eventually been a problem even if there is collateral damage (i.e. truly low risk consumers such as yourself).

[rpina1]

Just to get a snapshot credit score wise, I pulled TU FICO (it's only $3.96). 677 as of today, which does not reflect 2 accounts I just paid to zero balance a couple of weeks ago.

 

My experian *should be better*, since it only has 1 collection, while TU has 2. Also, my experian shows no inquiries in 2008.

 

650 must be the threshold, because as soon as I paid off one of my other accounts, that is about when the "apply for starwood" message started appearing in my login.

[Credit Matters]

Nice one, CM. I won't quote you just to keep someone in the dark for at least a couple more posts. Out of all members, I thought you'd be one of the last to make the ignore list.

 

BB, I made his short list several years ago as well. Then he took me off when he realized that he didn't have a good reason for putting me on the short list.

 

He's just sensitive. He's the gentle giant around here.

[The Livid One]

Nice one, CM. I won't quote you just to keep someone in the dark for at least a couple more posts. Out of all members, I thought you'd be one of the last to make the ignore list.

 

BB, I made his short list several years ago as well. Then he took me off when he realized that he didn't have a good reason for putting me on the short list.

 

He's just sensitive. He's the gentle giant around here.

 

Too much steak sometimes has that effect on a person....

[Big Bear]

Nice one, CM. I won't quote you just to keep someone in the dark for at least a couple more posts. Out of all members, I thought you'd be one of the last to make the ignore list.

 

BB, I made his short list several years ago as well. Then he took me off when he realized that he didn't have a good reason for putting me on the short list.

 

He's just sensitive. He's the gentle giant around here.

 

Too much steak sometimes has that effect on a person....

 

Wait, another effect besides gout?

[GEORGE]

Nice one, CM. I won't quote you just to keep someone in the dark for at least a couple more posts. Out of all members, I thought you'd be one of the last to make the ignore list.

 

BB, I made his short list several years ago as well. Then he took me off when he realized that he didn't have a good reason for putting me on the short list.

 

He's just sensitive. He's the gentle giant around here.

 

Too much steak sometimes has that effect on a person....

 

Once or twice a month is too often???

 

I don't think it has even been more than 5 times in a month (assuming I actually had left-overs from the restaurant)--RARE

[The Livid One]

Nice one, CM. I won't quote you just to keep someone in the dark for at least a couple more posts. Out of all members, I thought you'd be one of the last to make the ignore list.

 

BB, I made his short list several years ago as well. Then he took me off when he realized that he didn't have a good reason for putting me on the short list.

 

He's just sensitive. He's the gentle giant around here.

 

Too much steak sometimes has that effect on a person....

 

Once or twice a month is too often???

 

I don't think it has even been more than 5 times in a month (assuming I actually had left-overs from the restaurant)--RARE

 

J/K GEORGE, don't IGNORE me.