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Old 12-19-2008, 08:57 PM   #61
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Yes, we are all being held hostage to the credit scores. There's no way around it, you are your number. It's being used more and more to assess our character, trustworthiness and risk profile; not just our credit usage. So we have to play this game to make ourselves look good to the world. Rather aggravating at times, no doubt.
Yes, because FICO-style credit scoring is a scam and a sham, anyway. Unlike folks here, many folks don't have the discipline to keep an account open without using it, so it's contributing to the problem.
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Old 12-19-2008, 09:02 PM   #62
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I have 3 cards. Mastercard with 1% cash discount that I used to use butonly keep ticking over to avoid being canceled and affecting FICO.

Amex Blue Cash that I keep ticking over for hiring cars in Europe - includes CDW.

PenFed is my main card.

I used to only keep one card until the time we were on vacation and I lost my wallet - now carry an extra card in different location in case it happens again
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Old 12-19-2008, 10:50 PM   #63
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I have had a CC with RBS....they bought out some other bank/CC company several years ago and I became their client by default. Can't remember the last time I used (or even saw) the RBS CC....it's either locked in the safe or I shredded it the last time I was cleaning and sorting.

Anyway, I received a letter from them today informing me that due to my lack of using their CC, and for my own good, they were going to initiate the closing of my CC account, and that it was closed 'effective immediately'. Whoopy-ding! I really liked the part about them closing the account for 'my own good'.

Not too concerned about them dumping me....won't have much of an impact on my 800+ FICO....even w/o the RBS CC, I'm pretty sure I'll still stay above that mark.
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Old 12-21-2008, 03:51 AM   #64
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Both DH and I got this letter too. That's okay, I guess.
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Old 12-21-2008, 06:23 AM   #65
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Just curious, with all the CC canceling these days is there any indication of the companies cutting back on the number of cards they hand out to college students?

Not that the cards won't be used, but the ability to pay may come into question.
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Old 12-21-2008, 09:50 AM   #66
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Well? Put yourself in their Shoes...
1. It cost your co. $25 yr to keep an account Open
2. You're not making any money on the account? No activity..
3. Your co. ave 1% a yr Of Account holders in the older age groups Just up and Die and their Estates are not closed out..
4. a Dozen other reasons to close the account

To keep an account open? Charge something, even a Tank of Gas every month on it and just pay it off when bill comes..

and Think of using your cards for this Reason?
> If retailers Won't give us Cash Payers a 1-3% Discount for paying them in cash and it cost the that much to accept CC's? Why give them the Extra $ by paying them in cash or Check? And How much does American Express Charge retailers to accept their card?

> Buying Products that Store won't take back? A CC is nice to use since you can Protest the Bill within 30 days and even longer with other CC's...Even if you Loose the complaint, you tied up that $ for the Retailer ..just to aggravate them back..and at least 1 oz of Flesh out of them back.. vs a Lb..

FYI> I just did a Auto repair job on my car for $1,500 And Cut a Deal to pay by Check inturn for giving me 1.5% discount vs using a Credit Card... $22 Bucks paid for a Tank of gas for me.. that week.

and do the same "Deal/Offer" Before you buy anything of value.. They're Hurting and are willing to deal..wouldn't you?
My Buddy just bought a Used car..for $20k, but they said they would take his American Express card to pay for it.. He then turned around and said he would pay by Check but He wanted a 1.5% Discount off the price or $300 Item to be added to the car...GPS......instead of using the CC..
What do you think they did?

And you Women? Being good at Womens Clothes and Shoes? at your Favorite Shops? Use your Women's ability to Circumvent or Manipulate to your advantage..and use the saving to go to Lucnh with a Friend... LOL

And I just also bougth a new 42" TV and a New Fridge.. But Got everyone's elses Prices and then went to SEARS and said to Either Match it and -10% off that price or I walk..Guess what they did? They accepted the deal..
Savings? over $300..and change.. and Got Free Delivery and set up!

and do I care if they Close their Doors next yr? Who cares, the warranties are with the Mfg. , not the store...
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Old 12-21-2008, 02:09 PM   #67
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Chase canceled my credit card because I hadn't used it for 13 months. I was going to do a low interest balance transfer with it and just hadn't gotten around to mailing in the check. My fault for procrastinating. The letter said they would be reporting this to the credit agencys so I guess it will read closed by issuer and leave a question as to why. I thought it was better for your score to say closed by me the card holder.
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Old 12-22-2008, 04:58 PM   #68
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I received a letter from Barclays Bank today:
"In a recent review of your account, we noticed that you have not used your MasterCard account for a long time. To help you better manage your credit accounts, we have closed your account."
:confused:
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Old 12-22-2008, 05:00 PM   #69
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I received a letter from Barclays Bank today:
"In a recent review of your account, we noticed that you have not used your MasterCard account for a long time. To help you better manage your credit accounts, we have closed your account."
:confused:
Hey, if you can't use the credit then there is nothing to manage. That's 'better', right?
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Old 12-22-2008, 06:08 PM   #70
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Quote:
Originally Posted by 2good View Post
I received a letter from Barclays Bank today:
"In a recent review of your account, we noticed that you have not used your MasterCard account for a long time. To help you better manage your credit accounts, we have closed your account."
:confused:
That was part of RBS's schpeel in the letter I got from them a few days ago. Since I didn't use their card for such a long time, I didn't have to manage it at all.....so how is this going to help me "better manage" it? It actually just creates more work for me.....now I have to open the safe, find that CC, take it out, and then run it through the shredder.....I haven't had to do that much work managing since I opened the envelope when they sent the card, took it out, and put it in the safe!
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