@firefox100 wrote:
the past three months and pay off the balance before end of billing cycle. guy on the phone said that we don't make money if you don't pay intrest on account.
( They make money every time you use the card )
I also have Ring master card with 8k cl and no balance on it. last I had balance transfer on it 2k and paid it off before insintrest got charge on it. the guy gave me heads up that many banks are going to in next year or 2 cut cl back we don't make money if you don't carry a balance and just because you pay off balance it may make your Fico score look grat that doesn't make you great customer to the bank.
Bad Info.
CC issuers want to make money but need to manage risk. The best customers use the card and PIF. ( Make money and have small risk ) They will make money if you carry a balance but you also look like a higher risk )
CL are determined by a lot of factors and lending institution balance making money vs risk of defaulting. As profits and risk shift, caused by a lot of outside financial and spending patters, lenders change rewards, CL's, benefits, subs, etc. I have seen shifts between (No subs, low CL's, no rewards, no BT's) to (700-800 subs, high CL's, great reward, and 3X year BT offers, 3x CL increases in 90 days). If the Profit/Risk balance changes for the issuing Bank/CU so do the CL's, subs, rewards, BT-offers, etc. A few institution have been lowering benefits, smaller subs, lower rewards, lowering CL's. No big deal, it always goes up and down, just like the stock market, and car loan rates.
Not getting a CL increases is not because you are not giving them 18% interest. If it was you would be better off getting a high interest checking, using a debit card, and cutting up the CC. Paying interest is not worth believing you might get a CL increase.
I wouldn't do it if it was guaranteed, give you $500 for $5000 !
