topic Re: So I'm being punished for paying more than the minimum?!! in Credit Cards

So I'm being punished for paying more than the minimum?!!

Anonymous — Fri, 12 Feb 2010 19:00:25 GMT

I have an IKEA (GE Bank)card that only had a 900 limit. My house was broken into and I couldn't find the card so I reported it stolen (found it later under all the rubble). They lowered my limit to the amount owed on the card $120. I paid it off and requested a CLI. They denied me and said that they used the percentage of times payment greater than amount due and number of months this account has been open, (2007-2008). Are you serious?!

Re: So I'm being punished for paying more than the minimum?!!

Anonymous — Fri, 12 Feb 2010 19:01:32 GMT

So could this be because I paid it off under the no interest for 2 years dealy? Is that why they're not playing nice?

Re: So I'm being punished for paying more than the minimum?!!

Anonymous — Fri, 12 Feb 2010 19:33:12 GMT

If you don't need or use the card much, I wouldn't worry about it. It sounds like one of those "out of the blue" reasons that they use all the time.

Re: So I'm being punished for paying more than the minimum?!!

stefanc — Fri, 12 Feb 2010 20:04:24 GMT

Did you make a number of payments during the promo period that were not more than the minimum due?

Trying to make sense of it...

For instance you made 2 payments that were more than the minimum due, and 10 that were just the minimum????????

Re: So I'm being punished for paying more than the minimum?!!

Anonymous — Tue, 16 Feb 2010 20:00:50 GMT

No. I probably paid the minimum twice. I have this thing about uneven numbers so if I have a balance of 534.00 I will send in 34.00 to make an even 500. Then I will send $50 payments to keep the number ending in 0. Weird I know but it keeps me entertained.

Re: So I'm being punished for paying more than the minimum?!!

laz98 — Wed, 17 Feb 2010 03:33:13 GMT

@Anonymous wrote:
No. I probably paid the minimum twice. I have this thing about uneven numbers so if I have a balance of 534.00 I will send in 34.00 to make an even 500. Then I will send $50 payments to keep the number ending in 0. Weird I know but it keeps me entertained.

ha ha, i do this too!

Re: So I'm being punished for paying more than the minimum?!!

CHARGE_IT — Wed, 17 Feb 2010 08:36:43 GMT

@laz98 wrote:
@Anonymous wrote:
No. I probably paid the minimum twice. I have this thing about uneven numbers so if I have a balance of 534.00 I will send in 34.00 to make an even 500. Then I will send $50 payments to keep the number ending in 0. Weird I know but it keeps me entertained.

ha ha, i do this too!

I do this ..........three...................with everything.

Boy, am I busy.

Re: So I'm being punished for paying more than the minimum?!!

BungalowMo — Wed, 17 Feb 2010 13:28:54 GMT

I think we all have a bit of "balance OCD"!!

You're not alone!!!!

Re: So I'm being punished for paying more than the minimum?!!

Anonymous — Wed, 17 Feb 2010 15:36:02 GMT

@Anonymous wrote:
I have an IKEA (GE Bank)card that only had a 900 limit. My house was broken into and I couldn't find the card so I reported it stolen (found it later under all the rubble). They lowered my limit to the amount owed on the card $120. I paid it off and requested a CLI. They denied me and said that they used the percentage of times payment greater than amount due and number of months this account has been open, (2007-2008). Are you serious?!

I believe you are interpretting this backwards. They are "penalizing" you for not making a significantly higher-than-minimum payment on your account consistently. That identifies you as a greater credit risk as it seems to indicate you don't have the funding to make significant payments. This is usually not true; a lot of consumers take advantage of a low interest rate as long as possible and put their money towards other obligation... But it gives the CCC the impression that you are already at your financial limit.

Re: So I'm being punished for paying more than the minimum?!!

Creditaddict — Wed, 17 Feb 2010 17:59:51 GMT

did you not use the account for some time, 124 is usually the cl GE accounts go to when they have not been used... if you push CLI it will be denied but if you call in and tell them you noticed it was decreased and you would like to use it, in my experience they will reset it on the spot to original cl

Re: So I'm being punished for paying more than the minimum?!!

Anonymous — Thu, 18 Feb 2010 04:56:53 GMT

My Paypal (also GE Bank) CL was decreased from $500 to $250 last year. I think they're just hurting that much right now. Probably better off without them.

Re: So I'm being punished for paying more than the minimum?!!

Anonymous — Tue, 23 Feb 2010 15:38:34 GMT

No. I consistently paid more than the minimum. I probably paid the minimum once or twice over the life of the card. Can't be that unless they were offended that once or twice. Oh well.

Re: So I'm being punished for paying more than the minimum?!!

jefftca925 — Tue, 23 Feb 2010 21:26:54 GMT

@Anonymous wrote:
No. I consistently paid more than the minimum. I probably paid the minimum once or twice over the life of the card. Can't be that unless they were offended that once or twice. Oh well.

If those are your FICO scores in your siggy that might explain why you are having problems with them. Do you have any derogs on your CBR?