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I'm bored out of my mind so I just got on the chat with Cap1 to see about a pc to Quicksilver. Obviously that was a big no. Or rather, "I'm sorry but unfortunately there is no offer on your account currently." So I decided to ask about an APR reduction as that card is at a whopping 22.9%! To my surprise they actually said yes, but it's only for 7 months and only to 18.9% lol. I guess it makes no difference as I never carry a balance on any of my cards, but come on!
I have such mixed feelings about even keeping this card open. On one hand it's my oldest card, has no AF, and no FTF. On the other hand I had to go through the EO just to get a $2000 limit and 1% rewards. I figure if I ever want anything done with the account the only option is really the EO and that's just ridiculous to me. I understand that when I first got the card I had virtually no credit, but they really need to develop a way to identify the customers that have improved their credit.
@SnackTrader wrote:
you can waste their time and money with "customer service" requests.
Absolutely! I used to love asking them for a credit limit increase, apr reduction, and a new card design once a month! They would print a new card and send at least one letter saying I wasn't eligible. I doubt I close it, but at some point I may let it go inactive. Right now all they really get is a netflix charge once a month for $8. I wouldn't be closing it in an attempt to make them change their views or anything. I just really have no use for the card. Even for utilization that $2k makes no difference for me. I spend maybe a thousand a month on average and have $20k in available credit. I don't know it's just one of those things where I feel like there isn't any point in keeping it other then building up my aaoa more.
@Default4 wrote:
I have such mixed feelings about even keeping this card open. On one hand it's my oldest card, has no AF, and no FTF. On the other hand I had to go through the EO just to get a $2000 limit and 1% rewards. I figure if I ever want anything done with the account the only option is really the EO and that's just ridiculous to me. I understand that when I first got the card I had virtually no credit, but they really need to develop a way to identify the customers that have improved their credit.
+1
I see you too must be a Capone cardholder.
I'm always curious why people who don't carry balances are concerned about the annual percentage rate on credit cards. I know people can care about what they want, but it just doesn't make sense to me. I have multiple cards in the 20% range and I couldn't care less. If the very odd chance came up that required me to carry a balance, I would just apply for a card with an introductory period of 0%.
@navigatethis12 wrote:I'm always curious why people who don't carry balances are concerned about the annual percentage rate on credit cards. I know people can care about what they want, but it just doesn't make sense to me. I have multiple cards in the 20% range and I couldn't care less. If the very odd chance came up that required me to carry a balance, I would just apply for a card with an introductory period of 0%.
My Cap1 is the only card in the 20s. Everything else ranges from 9.9% to 18%, that is if you don't consider the Paypal card... I never plan on carrying a balance and agree with you that I would probably just apply for a low APR card if I needed to. I just like to make improvements where ever I can.
@SnackTrader wrote:
+1,000,000 navigate
I have said the exact same thing before. Unfortunately, for too many on this forum, and I would suppose it applies to the rest of society, carrying balances is a regular occurrence. There are dozens of posters in credit card debt, and in denial about it. There is another handful of posters not in denial about it.
I know nothing about Default's debt burden, and so I don't include the OP in this comment. In fact, for the OP it seems more like "the principle of it". But for numerous others on the forums, our suggestions to help them build their credit portfolio go to waste towards interest charges and thousands of dollars in debt.
To make it clear I have never paid 1¢ of interest on credit cards. It really is just because I can. Credit cards for me are essentially discount cards that help my credit score lol. I have second hand experience in what credit card debt can do to people and I have absolutely no interest in going down that path. All of that being said most of the people that are on this forum either are having credit difficulties or have had issues in the past. That's what lead them here in the first place. They can be given all of the best advise in the world, but it's ultimately up to them what they are going to do with it.
@SnackTrader wrote:
+1,000,000 navigate
I have said the exact same thing before. Unfortunately, for too many on this forum, and I would suppose it applies to the rest of society, carrying balances is a regular occurrence. There are dozens of posters in credit card debt, and in denial about it. There is another handful of posters not in denial about it.
I know nothing about Default's debt burden, and so I don't include the OP in this comment. In fact, for the OP it seems more like "the principle of it". But for numerous others on the forums, our suggestions to help them build their credit portfolio go to waste towards interest charges and thousands of dollars in debt.
Perhaps I'm speaking out of frustration a tad bit here since I just had to pay down a huge medical bill the other day using a credit card, but there are times when carrying a balance is necessary or unavoidable. I don't think casting everyone who doesn't have zeros reporting each month as debt-ridden irresponsible lost causes (well, not in those terms of course) is fair. Given the choice of having a multi-thousand dollar med bill go into collections or paying it off in chunks over time without having to worry about the due date falling between pay cycles, well... the choice was obvious. High utilization is much more easily rectified than a collections. I'm far from being alone in this situation.
But on the wider issue of advocating responsible credit usage, no argument from me. Maxing out cards to go on vacations or buying big-ticket items that you don't need is just foolish, and we all know what they say about a fool and his money. I'm fairly certain this is the group of people you had in mind when you posted, though.
I gave it a shot... here's my comical convo..