Master 2021 Account and Relationship Closure/Termination Thread

[MP80]

6 hours ago, MP80 said:

Let me clarify the deficiency of precision on nickel and dime, haha... I apologize if the way I wrote lacks ambiguity by encapsulation.

This is what forgetfulness is, lapse memory (The expected explanation is missing).  

 

Nickel and dime refer to people who use the card to make purchases, and they hold a continuous balance on this type of card while accepting cashback. The downside is that if you compare your nickel and dime cashback with your balance, you will have to pay an extra $10 to $20 on the net negative per month.

[cv91915]

14 hours ago, MP80 said:

Only a stingy person (not saying you) cares about nickel and dime, and carrying a balance would forfeit all that cashback, true?

 

Use your time every day to make a purchase decision on which card itself costs money, and time equals money.

 

A pile of credit cards will only cause time fatigue. Think about how much time consumption a person spends every day thinking about his 20 cards?  

 

"carrying a balance"    

 

 

How much time do you think it takes to decide to use the BCP at the grocery store instead of the Travel Rewards card in the slot next to it? 

 

I guess I could just grab any random plastic card in my wallet instead of consciously deciding to grab and pay with BCP, but statistically that means I'd try to pay with my drivers license 25% of the time.   That hardly seems efficient.

 

Besides, by the time the checker gets finished scanning my groceries I've already selected my card and the payment terminal has accepted it. 

 

PLEASE tell me you aren't one of those people who waits for the total and THEN starts fishing around for a payment method.

 

 

Edited November 3, 2021 by cv91915

[cv91915]

On 11/2/2021 at 6:35 AM, cv91915 said:

For some reason I can't bring myself to close my perpetually-unused $20,000 Synchrony / Rackyewten Visa.

 

And it's sitting here, now, right next to my phone.

 

 

RIP RACK-U-10 VEESA

 

That felt so good I'm eyeing both of my Macy*s cards right now. 

[StarkRaven$]

I just got through closing my Alliant Visa Platinum cc. It had a paltry cl of only $2500. I was targeted by Alliant that I was preapproved and then it was so meager. The cl was approved during the beginning of Covid so there was that going on in the credit world.

[MP80]

16 hours ago, cv91915 said:

"carrying a balance"    

Exactly.  

 

16 hours ago, cv91915 said:

PLEASE tell me you aren't one of those people who waits for the total and THEN starts fishing around for a payment method.

 

Not occasionally, but mostly, I do.