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@sandsanta wrote:Famous last words .
You should be fine.
hahaha I can see how that looks to most people seeing a young kid talking about making a punch of purchases and stuff.
The huge perk in this is I'll be getting cash back for all this...so Citi will be essentially paying me to use their card.
I honestly couldn't tell you how many cards/accounts I officially have, but I've never once been CLDed or closed on. It's honestly nothing to worry about, to be honest.
@FloridaState12 wrote:
The huge perk in this is I'll be getting cash back for all this...so Citi will be essentially paying me to use their card.
Actually... it'll be the merchants you use your card at that will be paying Citi to pay you, and Citi still keeps a fair chunk as profit.
@JMN wrote:I honestly couldn't tell you how many cards/accounts I officially have, but I've never once been CLDed or closed on. It's honestly nothing to worry about, to be honest.
You know what? Same here...NEVER been CLD'd in all the years I have had credit - and contrary to popular belief, this isn't the only time in American history where credit lenders got panic shock and tightened up lending guidelines. IME, they get far more ansy when GIVING credit than after that credit has been provided.
Of course, this is always YMMV, but I have never known anyone personally who has been CLD'd, closed, ANYTHING for inquiries, running up balances, or taking advantage of ADVERTISED no-interest promos. The instances I know of were related to late pays, foreclosures, reposessions and the like that creditors stumbled upon subsequent to giving that consumer a credit line.
For context to the OP, think about this for a minute:
You have lenders like Citi, Discover and even Barclay advertising and encouraging no-interest promos and low-interest balance transfers. Subsequent to consumers actually taking them up on these offers, they close the accounts or lower the limits???
I'm sure this may have happened on isolated, random instances, but CCCs wouldn't keep good reputations if they screwed customers like that on a consistent basis.
Just one man's opinion after over 3 decades in Creditville...