CC PIF List

[Anonymous]

Hi,

I would like us to start a list of which CCC's like us to PIFand which get upset when we do. I know from what I have read the bigger banks like to see us PIF and the smaller (subprime) cards like to see us carry a balance.

I have read that some companies hate when we PIF and won't give a CLI because of it. Has anyone experienced this?

Please share your experiences... I only have Orchard to go by so far. (But should get a Cap 1 card soon from the recon!)

Correct me if I am wrong but these like to be PIF'd each statement:

AMEX

CHASE

US BANK

BofA

CITI

and these Cards prefer a balance:

CAP 1

ORCHARD

HSBC

[Anonymous]

PIF

Amex

FNBO

Message Edited by Max09 on 09-18-2008 06:52 PM

[Anonymous]

Well they are revolving products, meaning you can carry a balance. Most experts say 30% or under is fine. I am sure there are some companies that don't like a balance being carried @ all, but I think in general they are few and far between.  BOA even told me they don't mind if you carry a balance, as long as your card is not all maxed out for a substantial period of time. I don't think Capitol One "prefers" that you carry a balance ( I don't know about the others on the list). I think Capitol One like all companies, likes if you use your card a lot and pay it down and use it a lot again.

Message Edited by siangirl34 on 09-18-2008 06:58 PM

[Anonymous]

I think the most banks don't care if you pif or not. As long as you aren't going further and further into debt and you are paying more than the minimum you should be fine.

[jmbfl]

To say one card over another either prefers a balance or PIF is silly. What all card issuers prefer is that you manage your credit, both their card and in total, properly. If that means you carry a balance on a card for a few months that's OK. If you're worried about it call the issuer and tell them you are doing it. No one particularly cares if you report a balance on one more card in any month so your score is dinged by two points. What they do care about is gross mismanagement: late payments, CO's, CA's, judgements, maxing out cards and worst of all BK. Some are more hair trigger than others - AMEX, in particular is not fond of revolving balances. And if an issuer sees a pattern of behavior that is leading toward default or BK watch out! What they are all fond of is USE. Use your CC's, pay them responsibly, and everyone will get along just fine.

Pay on time, every time! NEVER BE LATE!

Message Edited by jmbfl on 09-19-2008 07:40 AM

[Anonymous]

No it isn't silly, I have seen posts on this board that some companies do not like when we PIF. They have even given CLD to people who always PIF. I myself think that would be good info to have. For example, if I had a Citi card and people on here said Citi likes you to carry a small balance or they won't give a CLI then I thinkm that would be good to know.

[Anonymous]

Come to think of it, nowadays, do you think all the CCC would prefer cardholders to PIF?

The economy is slow and many CCC are chasing down balances as well as CLD some customers. Banks are also facing crisis of their own so "cash is king" for them right now. The more payment the banks collect, the better.

Just not fair that these financial instutions got themselves into this mess for being greedy and tax payers $$ is used to bail them out. Who is helping the tax payers then?

Just my $0.02

[haulingthescoreup]

Per what we have seen recently, if you have an American Express card of any type whatsoever, you'd probably be ready to PIF all your cards, not just theirs, or at any rate keep balances very, very low.

[MidnightVoice]

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Solarjuju wrote:
Come to think of it, nowadays, do you think all the CCC would prefer cardholders to PIF?

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Yup, totally agreed!

[fused]

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Pappy214 wrote:

Correct me if I am wrong but these like to be PIF'd each statement:

AMEX

CHASE

US BANK

BofA

CITI

and these Cards prefer a balance:

CAP 1

ORCHARD

HSBC

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Yes, I agree PIF

I say, no...these two like revolvers (not big balances though)

Not sure