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NorCalR1

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  1. Good question. I just logged in and I don't see it either. But I could swear I saw it a couple months ago.
  2. A couple points here. 1) I would like to see just how many customers utilized 25K of a 50K credit line every few months. I don't have facts to support it, but I believe this is the rare exception and not the rule. 2) I am also a stockholder in banking/finance and have done OK in this sector as part of an overall diversification in my portfolio. Of course I would like to see capital used to fund lines that have a greater return, but not at the expense of voluntary customer attrition.
  3. Aside from the above establishments, there are plenty of others that restrict the use of cards, or are outright cash only businesses. As such, cash and ATM's are not going anywhere. I think CTSoxFan is right. I don't see the US getting to a cashless society.
  4. Yeah I agree, nobody has to justify their spending habits to Suze or live their lives according to her (e.g. use your daily coffee spend to invest in a roth IRA), or anyone else for that matter. That being said, I see where she is coming from, and if that advice works for some folks, good for them. If that starbucks coffee everyday is what they want, it is nobody's business to tell them they shouldn't.
  5. Yep. As usual, the banks will be well ahead of the curve and take action before their customers know whats coming.
  6. A couple weeks ago, Citi declined at local grocery store, didn't have time to call and find out why, then used it several more times with no problems. Then called to follow up and they couldn't say why it was declined and there was no problem. Pretty rare that transactions are declined, but it does happen. Goes to show to always have a couple backups.
  7. Should not be a bother. There is competition and AMEX is not the only credit-card issuer out there. They (AMEX) need us (consumers) far more then we need them. Let AMEX do what they will. We as consumers should not care one bit. We have choices.
  8. Something is missing here. The hotel had to have had suspicions long before it got to this point. Why didn't they insist on presenting a valid card after the 2nd night. I find it hard to believe there is verbiage in the HHonors program that allows this. Just doesn't make sense.
  9. Looks like that was specific to German user data metrics. Unsure whether the same could be said for US population. Actually, it might be reversed. More concerning is the use of banking behavior (checking vs. savings balance) and use of social media as credit predictors. May not be feasible or justified now, but the mere fact they are even discussing it means it may be reconsidered in the future if data analytics can validate its usefulness.
  10. This is just a minor setback, a miss on your wife's part. The initial hit to a credit score when the derog first appears is huge and no doubt it is depressing. However, it will quickly begin to recover as time goes on and more positive information is added (monthly on-time payments). You can write a goodwill letter, explain the situation and ask for a deletion, it doesn't cost you anything and always worth a try, but based on what you wrote, I don't think you'll get it, but try nonetheless.
  11. While I like what Experian is doing here; to help consumers with thin files, I am very uncomfortable with the level of access being requested, that is, linked checking/savings. Any data breach or data exposure will have severe consequences for the consumer who ultimately will bear the responsibility. There are too many data security incidents happening, and the people impacted are notified too late. That said, I can see where their is interest in signing up for this. But I will not participate.
  12. I will stay clear of Wells Fargo. No interest or need to do business with them. The shake out from the business practices is almost unreal.
  13. Well, its understandable why banks are doing everything they can to get ahead of any stresses to the economy. Their own data and analytics is probably telling them much more then the fed is. So this is not a good sign and time to settle down and not draw any attention. Most people have a very clear memory of the last recession and the corresponding housing crisis and are not one to repeat a mistake. But sadly, there are still some who do not study history and learn from it.
  14. Congratulations hegemony. Question: Is your overall BofA credit line exposure over 150K after this increase?
  15. Not just college; although absolutely true that it is getting further out of reach then ever before, and at top tier public universities, good luck on getting your classes in order to graduate in 4 years. In Northern California, you are also dealing with sky-high housing costs, that is, if you can even find it. The economy is good here, but also hyper competitive. You need to stay very motivated, be highly educated, and constantly keeping your skills refreshed and the learning never stops. Once you fall behind here, you will never catch up again. Millennial's are well off, but they are working very hard and making alot of personal sacrifices to survive. It is not easy.

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