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Old 11-20-2015, 05:20 PM   #21
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That's why they are not too concerned about losing your business. They make minimal money on folks like us who never pay interest on outstanding balances.
I have heard that the industry's word for people who pay no cc interest charges is "Deadbeats". Kind of ironic isn't it.
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Old 11-20-2015, 05:37 PM   #22
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I have heard that the industry's word for people who pay no cc interest charges is "Deadbeats". Kind of ironic isn't it.
I have a few words for the industry but if I said them here I'd be kicked off.
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Old 11-20-2015, 06:04 PM   #23
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I have heard that the industry's word for people who pay no cc interest charges is "Deadbeats". Kind of ironic isn't it.
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Transactors versus revolvers
Card issuers divide the world into two groups: "transactors" who use their cards for purchases and pay off the balances each month; and "revolvers" who carry balances on their cards, paying interest charges month to month. To pure transactors, the balances on their cards aren't really debts at all, since any purchases will be paid off before interest charges are applied.

The number of revolvers has been decreasing steadily since 2009, when the National Foundation for Credit Counseling first began surveying Americans about the issue. In 2014, only about one in three U.S. adults say their household carries credit card debt from month to month, down from 44 percent in 2009. Some 15 percent of adults -- more than 35 million people -- roll over $2,500 or more in credit card debt each month.
Credit card debt statistics
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Old 11-20-2015, 06:18 PM   #24
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So I'm a Transactor AND a Deadbeat. (Sticks and stones. . .) I can add one more description to my now resume: A person who won't use your stinking card or your bank.
Oh, and there's one more: I'm not always a lady.
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Old 11-21-2015, 11:46 AM   #25
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And what about the many of us who not only pay off our CC bills every month but also earn money from cashback benefits? THEY pay US to use THEIR cards LOL! What would they call us, Profiteers?
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Old 11-21-2015, 12:11 PM   #26
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I imagine the CC companies make most of their money from merchant fees. They would like us all to make minimum payments every month, but they really want us using the cards as mch as possible. The cash back rewards can't hurt them too much or they would stop the programs--the rewards get us to use their cards more often.
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Old 11-21-2015, 02:55 PM   #27
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I have heard that the industry's word for people who pay no cc interest charges is "Deadbeats". Kind of ironic isn't it.
But they do make money on us - the transaction fees. For people who run up large charges, they make good money off us even when we pay it off.
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Old 11-21-2015, 03:06 PM   #28
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But they do make money on us - the transaction fees. For people who run up large charges, they make good money off us even when we pay it off.
Oh sure, I knew that. A few days ago I got an offer from Sears on their M/C card that I use - 20% back in a statement credit for using their card anywhere but Sears up to 12/31. A while back they sent me one for 10% back in statement credit and I signed up for that one too. This one overlaps the previous one.

I think what they're trying to do is change ingrained habits, get me to use their card more for a couple of months, and hope I keep doing it when the offer expires.

But I still pay it off every month.
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Old 11-21-2015, 03:17 PM   #29
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And what about the many of us who not only pay off our CC bills every month but also earn money from cashback benefits? THEY pay US to use THEIR cards LOL! What would they call us, Profiteers?

I don't care what they call me as long as the rebate check doesn't bounce.
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Old 11-30-2015, 04:48 PM   #30
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New Krebs article on gas credit card skimmers and subsequent fuel theft rings. http://krebsonsecurity.com/2015/11/g...kimming-scams/
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