So we (wife and I) got a letter from Chase concerning one of our credit cards. We're not big on credit cards but realize in this day and age you should have a few. We have two (well one now). A vague form letter that I'm sure a lot of people are getting. There are three possible reasons we're losing our card. 1) Too few accounts paid as agreed 2) Total available credit on satisfactory bankards is too low 3) Total bankcards balances are too high compared to credit limits It would have been nice if they had just flat out told us the truth. This would be reason number 4. 4) We don't make enough money off of you. I guess that makes a a "good credit risk'? I figure we've had this card for about 7 years or so. We originally got it by transferring a balance from another card on their offer of 12 months interest free. I was painting at the time and making decent money so I did just that then had the gall to actually pay it off interest free. So the teaser rate failed for them. We used it sporadically and once again I had the gall to pay in full the minute the bill arrived. They did make a little money off of us. When my wifes job at the time basically dried up we actually used a few of those checks that they send for whatever you want. I figured out what I knew I could reasonably pay to put a bit of "insurance" money in the bank in case of an emergency like car repairs etc. I did this twice. Once was 3% off the top and the second was 4% off the top. Low rates for a loan as far as I'm concerned. Once again I had the gall to pay these off in a timely manner. Nothing extra except the initial fee. My wife is going to call them. We will take advantage of this for a free credit report. They denied us so they have to. Then we'll go to our local bank (which is family owned so I'd prefer to give them my business) and get a credit card through them. Chase also holds our mortage which I always have paid ahead of time. I like a cushion in case needed. Seems when I'm ahead it takes longer and longer to get my next statement. We've called them about this a few times. But that's a different story. It's a damn shame that people like us get "punished" for being responsible with our money. After all I didn't go to them they came to me.
I feel for ya bro...they did the same to me . I keep a Chase, a Capitol One and a BOA. Pay them off each month. Sheila did the same with hers, and they yanked limit from XXXX to XX and then punished her for being overlimit. You are correct, it is simply because the bank is not making the projected percentage from you.
Aww man...that's just the free market at work. Capitalism, corporate power, Wall street, the republican way and all that. Don't fret. It was just a "business" decision. Enjoy! There's so much more to come!
Yup, Should have seen it coming. You know we're not rich Jack but you also know we're not idiots. So how do I keep the other one? Charge some stuff and then pay interest if I don't have to? What a freakin' joke that is. Funny but not.
Poor TomC, forever the victim..... I will just restructure how I pay my bills and spend my money. It is a game dude, you dont see that? I'll go on winning while you moan and whine in the penalty box of life. Poor TomC...what a victim Edit: I've had a beer or two, let me elaborate. What a miserable stinking piece of human waste garbage , a disgrace of America you are. You can rot in your in your section 8 housing and cry all you want.......I'll keep climbing the ladder and working my ass of to avoid becoming one of you. Sorry to F your thread up Clembo....
Thank you for expressing the real right wing "you" instead of the phony you pretend to be. Alcohol can be very revealing. Beer tonight and whiskey the last time you cursed me out via email. It is clearer to me now why you get along with Lehigh so well! Drink up and hooray for the over 350K crowd! I'll just go back to my section 8 housing and big screen TV now. Oh...and thanks for reinforcing some of the generalizations I have made about the wealthy right wingers and their stereotypical characteristics. Appreciate it!
No problem Jack as I really doubt you did. These types of things affect ALL of us here. Anyone that can't see that is truly a star in the moron leagues.
I expect I will get a similar letter. I have a Chase card that I never use and haven't in probably 5 years or more. It is one of 2 cards I have and the other is used for a couple of monthly services payments that I pay off. I only use it instead of my debit card for them because my debit card number never hits the internet. I suspect I would do similar in getting a card from some smaller institution that doesn't mind the dollar a year cost it probably is to issue a card every few years and keep me in the database on the hope they will make a few bucks sometime. lol
I cancelled my Chase card a years or so ago when they billed me like $200 for being "inactive". Really though, getting one's cards cancelled is probably a good thing. We used to think we had to have one in case of an emergency but you find out quickly that you really don't. A debit card is good enough for me now.
You know, I've always been good with my finances and my wife hates to spend money so I figured that I was doing things right. Then I read Dave Ramsey's "Total Money Makeover" and while it wasn't earth shattering advice or much of anything I wasn't already doing, it helped to see all the pieces put into one picture. I have one credit card and my goal is to have none. I have always stuffed a lot of money into retirement and paid things off early and saved for the 3 kids college funds but I have never put away what Ramsey calls an emergency fund. It is made up of about 6 months of monthly output and is in a separate "bucket" that isn't used except as needed for emergencies and purchases that would otherwise go on a credit card. As of the 1st of the year, the only debt I'll have is a single digit year mortgage at 3.75%. By next summer, I plan to have 30-40 thousand dollars put away as an emergency fund. I suggest that anyone that wants to be financially better off, read Ramsey's book and actually follow his advice. Most people in serious financial trouble take about two years to turn their lives around and then they are free the rest of their lives. The thing that actually surprised me is that such simple advice worked so well. Saving money becomes as addictive as cocaine without the need for a drug dealer. If you do this, I guarantee you'll come back to this thread and thank me or write to Ramsey and thank him for putting you on the right track.
Funny that dr moen would advocate the Dave Ramsey system since it's the exact opposite of what BO & the dems seem to believe in.
I am sure that is why they cancelled you. But look at it this way. You have one and if you only use it once in a while then it should not really bother you that they cancelled it.
Chase has also resumed foreclosures on military families on active duty abroad. Check into the guy who runs Chase, Jamie Diamond....big time lib, big time money man for lib causes & a dear friend of BO.
Geez...Jimmy "Diamond" doesn't google very well. I did find "Jimmy cracked corn" though. That the same guy?
