"IF" BANKS GO OVERBOARD (CLD/FR/CLOSURE)

[GEORGE]

How are they going to make enough money to keep afloat???

 

I treat any ADVERSE ACTION as an INSULT

 

Unless they have "BADDIES" how can anybody NOT think it is an INSULT

 

INSULTS cause me to close the account(s)

 

A select few here think it is no big deal that you get a CLD or F/R or GET AN ACCOUNT CLOSED when you DID NOTHING WRONG

 

**(what is the story behind the story)**

 

OPINIONS???

 

ANTI-CREDIT CARD RHETORIC IS NOT NEEDED HERE

[Way2Deep]

I wouldn't call it an INSULT: to treat with insolence, indignity, or contempt : affront; also : to affect offensively or damagingly.

 

I think its stupid BUT, I am (now) a firm believer that the money that a person is granted on a CC is NOT THEIR money. It is the banks money and therefore I should not get mad when a bank decides they don't want me accessing as much or any of THEIR money anymore.

 

Just my opinion, others will vary.

 

Cheers

[GEORGE]

I wouldn't call it an INSULT: to treat with insolence, indignity, or contempt : affront; also : to affect offensively or damagingly.

 

I think its stupid BUT, I am (now) a firm believer that the money that a person is granted on a CC is NOT THEIR money. It is the banks money and therefore I should not get mad when a bank decides they don't want me accessing as much or any of THEIR money anymore.

 

Just my opinion, others will vary.

 

Cheers

"IF" they fear one using their credit card up to $5,000 why not give $100 then???

[Way2Deep]

I wouldn't call it an INSULT: to treat with insolence, indignity, or contempt : affront; also : to affect offensively or damagingly.

 

I think its stupid BUT, I am (now) a firm believer that the money that a person is granted on a CC is NOT THEIR money. It is the banks money and therefore I should not get mad when a bank decides they don't want me accessing as much or any of THEIR money anymore.

 

Just my opinion, others will vary.

 

Cheers

"IF" they fear one using their credit card up to $5,000 why not give $100 then???

 

I think its because they are minimizing their risk. Once a person has paid 100's if not 1000's of dollars in interest over a couple of years, why NOT lower their limit or close their account if they feel for whatever reason that their money is in jepordy. It's all risk assement.

 

I love your posts George, keep it up

 

Cheers

[GEORGE]

I wouldn't call it an INSULT: to treat with insolence, indignity, or contempt : affront; also : to affect offensively or damagingly.

 

I think its stupid BUT, I am (now) a firm believer that the money that a person is granted on a CC is NOT THEIR money. It is the banks money and therefore I should not get mad when a bank decides they don't want me accessing as much or any of THEIR money anymore.

 

Just my opinion, others will vary.

 

Cheers

"IF" they fear one using their credit card up to $5,000 why not give $100 then???

 

I think its because they are minimizing their risk. Once a person has paid 100's if not 1000's of dollars in interest over a couple of years,

why NOT lower their limit or close their account if they feel for whatever reason that their money is in jepordy. It's all risk assement.

 

I love your posts George, keep it up

 

Cheers

...and when they have PAID $0.00 IN INTEREST and used the card(s) for many $10,000's or $100,000+ in purchases???

[Way2Deep]

...and when they have PAID $0.00 IN INTEREST and used the card(s) for many $10,000's or $100,000+ in purchases???

 

...well then, I guess its because their not making any money from you!!!.

[GEORGE]

...and when they have PAID $0.00 IN INTEREST and used the card(s) for many $10,000's or $100,000+ in purchases???

 

...well then, I guess its because their not making any money from you!!!.

MAKING NO MONEY FROM PURCHASES IS A MYTH

 

I don't understand why that MYTH keeps on being pushed all over town

[chaunceem]

way2deep......... its not the banks money its the people that have checking, savings, Ira-401k, and money market accounts money so without us there would be no credit cards.........If I have 30k in cash sitting in Bofa and they Grant me 20K in credit they better dam well not CLD me or I will Move Faster than the wind,,,,,,It is are money and the banks just manage it and collect a fee (interest) For doing so..............

[drkaje]

Economic times change, BKs go up, underwriting guidelines change, they read the tea leaves and decide on a new risk model. I'd be willing to bet almost everyone that has had "stuff happen" to them was low risk (great credit) at some point.

 

It's nothing personal just that their confidence level in you has just gone down.

[ademas]

I guess I'll survive, and deal with it.

 

If they all cut my credit limits to 10% of what they are now, I could still easily do what I'm doing now without surpassing 10% utility on any card.

 

It would sting my ego a bit, but I'd probably get over it in short order.

[KYBOSH]

I'm starting to thing that these CLDs, FR and Closures are less about us...

 

And more about the banks themselves.

[Jen23514]

How are they going to make enough money to keep afloat???

 

 

ANTI-CREDIT CARD RHETORIC IS NOT NEEDED HERE

 

are we talking "banks" or credit card issuers? not always one in the same....

[GEORGE]

Economic times change, BKs go up, underwriting guidelines change, they read the tea leaves and decide on a new risk model. I'd be willing to bet almost everyone that has had "stuff happen" to them was low risk (great credit) at some point.

 

It's nothing personal just that their confidence level in you has just gone down.

BECAUSE some go BK everybody has to go BK

 

BECAUSE some are LATE WITH PAYMENTS everybody has to be LATE WITH PAYMENTS

 

That is like saying that DRUNKS are caused by people taking that first drink...even if they ONLY have one little glass of wine once a year on their birthday

[Way2Deep]

How are they going to make enough money to keep afloat???

 

 

ANTI-CREDIT CARD RHETORIC IS NOT NEEDED HERE

 

are we talking "banks" or credit card issuers? not always one in the same....

 

 

I THINK George was talking about CCs. Maybe I'm wrong.

[Way2Deep]

That is like saying that DRUNKS are caused by people taking that first drink...even if they ONLY have one little glass of wine once a year on their birthday

 

Hey, easy now, why you gota get all personal George

[hegemony]

it is business and not personal. taking AA personally is only going to raise my blood pressure.

[Jen23514]

That is like saying that DRUNKS are caused by people taking that first drink...even if they ONLY have one little glass of wine once a year on their birthday

 

Hey, easy now, why you gota get all personal George

 

It all starts with the first drink.

[GEORGE]

How are they going to make enough money to keep afloat???

 

 

ANTI-CREDIT CARD RHETORIC IS NOT NEEDED HERE

 

are we talking "banks" or credit card issuers? not always one in the same....

 

 

I THINK George was talking about CCs. Maybe I'm wrong.

[GEORGE]

it is business and not personal. taking AA personally is only going to raise my blood pressure.

I don't have HIGH BLOOD PRESSURE unless I have to go to the doctor for a cut finger

[Jen23514]

it is business and not personal. taking AA personally is only going to raise my blood pressure.

 

and a waste of time.

[hegemony]

it is business and not personal. taking AA personally is only going to raise my blood pressure.

I don't have HIGH BLOOD PRESSURE unless I have to go to the doctor for a cut finger

I thought you asked for opinions?

[Jen23514]

That is like saying that DRUNKS are caused by people taking that first drink...even if they ONLY have one little glass of wine once a year on their birthday

 

i'm taking issues with this analogy george... obviously you have no clue what "just one" can do to a person.

[Way2Deep]

way2deep......... its not the banks money its the people that have checking, savings, Ira-401k, and money market accounts money so without us there would be no credit cards.........If I have 30k in cash sitting in Bofa and they Grant me 20K in credit they better dam well not CLD me or I will Move Faster than the wind,,,,,,It is are money and the banks just manage it and collect a fee (interest) For doing so..............

 

 

..what if you have 5K and they grant you 15k? Would you be ok if they CLD you then? The simple fact that banks hold money for individuals does not mean "its the people's money" when they lend it out.

 

Curious, do you tell the police when they pull you over that you pay THEIR salaries?

[GEORGE]

I guess I'll survive, and deal with it.

 

If they all cut my credit limits to 10% of what they are now, I could still easily do what I'm doing now without surpassing 10% utility on any card.

 

It would sting my ego a bit, but I'd probably get over it in short order.

10% would not be much of an issue (for many)

 

What if you got a 90% CLD on every single card???

[GEORGE]

it is business and not personal. taking AA personally is only going to raise my blood pressure.

I don't have HIGH BLOOD PRESSURE unless I have to go to the doctor for a cut finger

I thought you asked for opinions?

I take it personal when I did nothing to DESERVE THE CLD