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  1. As credit card issuers are now declining more new credit card applications...there is a new score to contend with... https://money.yahoo.com/fewer-americans-are-getting-credit-cards-150649424.html
  2. I won't argue with you regarding borrowing money you can't pay back but in the case of most loans, when you are offered low interest loans for years and years and your credit is excellent, it's easy to be complacent and figure that those offers would be available in the future especially when the economy is good. It's a great lesson to learn...things can change rather quickly and to have a backup plan. To go from 0% to 20%+ in a split second with no other borrowing options can throw most otherwise smart thinking people into a financial downhill spiral. Fortunately, I experienced a few other recessions and the last one over 10 years ago was my wake up call seeing how Chase handled my accounts. When people ask why do you need multiple lines of credit from multiple lenders...The scenario we are in right now is Exhibit A as to why.
  3. I just checked, no balance transfer offers from the cards that had offered me the most attractive offers up until about 3 months ago. While I get that some banks don't want to take the risk, some people will now be forced into financial hardship that ordinarily would be fine when their balances go from 0% to 14% and most likely 20%+ interest scenarios overnight when their current balance transfer offers expire and they can't pay them off. Fortunately, I only have one card with a balance and it's at 0% until March 2021.
  4. direct

    CHASE CLD

    I wrote about this happening with my Chase cards back in 2008. They balance "chase"d my credit card accounts which caused my fico score to drop even more as my available credit was looking like it was always near maxed out on those cards. I remembered this as they were the ONLY card issuer that had done this to me. Based on the responses from others on this forum when I wrote about it, you would think they all worked for Chase. "Well that should be expected in the recession environment we were in" Blah, blah, blah. This time around...I have no personal Chase cards. Not one of my card issuers has touched my lines...at least not yet. When you need credit the most, that's when Chase sticks the dagger in you. I get that they are protecting their own ass, but not at my expense. Thank you.
  5. I learned during the last recession. Load up on the cards and increase the limits when things are good, because it's not going to happen when you need it the most. If I recall correctly, those with high scores, high limits and low balances and/or next to no debt came through relatively unscathed 10+ years ago. But those using cards to live off of like they were an extension of their checking and savings accounts...not so much. Of course, these are the people that probably can least handle having their credit limits balance chased and will push them to bankruptcy when all is said and done.
  6. I'm watching my accounts closely for any adverse action such as credit line reductions. The last recession...for me at least, Chase was the biggest culprit of balance chasing and I vowed never to get one of their personal cards again. So I'm curious as to what Chase does this time around. I had no issues with any other major card issuer at that time.
  7. Without the 3 digit cvv code and the billing address of the customer's card. There isn't a lot they can do with just the card number and expiration date. I would still recommend freezing all credit bureau files as a precaution for a myriad of credit profile theft, but that's not just for this breach.
  8. Sam's Club Mastercard...declined several months ago at a restaurant. Amex worked there. Went home, found no issues with the card. Used it at another restaurant the next day. Last night used the card at a restaurant and about 30 minutes later, declined at a movie theater for $5. Went home and found no issues with the card. It seems to be the only card I have had this intermittent issue with.
  9. That's a very short sighted way to run a business and will kick them in the ass in the long run. If I have a card for 34 years and have used it off and on over that period of time. I am still a viable customer that may use it in the future. If I don't have the card, I have no incentive to shop at the store...ever again. As far as the late fee. They make money from every transaction that I make. If I don't use the card other than once a year to keep it open, they make even less. I am losing no sleep over this. Just wanted to share my experience for those that care. I have 15 open credit cards and will simply move my everyday usage to another card until that card issuer stars being unfriendly.
  10. It was over a year, but I had gone multiple years in the past without issue. My point is, they do some rather "anti-customer" things in an environment of high competition. Why close a card that is 34 years old without notice? Why charge a late fee and then not waive it if it's the first time a customer that uses the card regularly is late? I have many options when it comes to credit cards and with online shopping eroding bricks and mortar, why close a card at all without some type of notice? If a small business did these types of things...they would be out of business in no time.
  11. I agree. They are making this an "apple card" issue, but rewards cards have always been the go to cards in anyone's wallet who has a choice of cards. Retailers build the fees into their markup so it's not like the consumer isn't paying for the privilege and if a customer chooses to pay cash, the retailer is that much ahead of the game.
  12. Never. This is what makes me scratch my head. I'm simply going to sock drawer their cards and start using another as my go to card. Citi does some pretty stupid things such as shutting down my 34 year old Macy's card without warning when I didn't use it for a while instead of sending a letter advising of potential closure for non use as other banks have done.
  13. I'm rarely late on a credit card payment and the few times in my life that I have been late, the bank has always waived the late fee. This month I missed a payment by 2 days on a secondary citi card that I have never been late on and paid the bill in full before the statement cut off. I thought I had the account set up for auto pay and it was only set up for my main citi card. I called in to have the late fee reimbursed and their automated system said they could not waive the fee. I then spoke to a live rep who said they could not waive the fee. I told the rep that's unfortunate as I will no longer be using this card on a regular basis. There is no damage to my credit report and $25 isn't the end of the world but I would think being the first time, they would waive the fee as a courtesy. Has anyone had this experience lately? Is it worth escalating this to a supervisor?
  14. I just got an alert from MyFico that a credit account was removed from my TransUnion Account. My available credit dropped by the amount of the Apple Credit Card Credit Line. My score went up 12 points. lol Apparently, the Apple Card that was supposedly reporting yesterday is not reporting today. I suppose tomorrow, it may reappear.
  15. My Trans Union Fico Score dropped 12 points as a result of the Apple Card hitting my account. It's been a while since I've had a new card show up....Does it still take about 6 months for the score to recover to back where it was before the new account hit? I remember it was about this long when Paypal sent me a mastercard to replace my Paypal line of credit. I was pissed about that one because it was just an account change over and they reported it as a new account after telling me it would just show as an account number change with the same aging as the credit line.

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