My Last Words to US Bank Kroger 123 Card

[DI]

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@tinuviel wrote:

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@ChesterPDexter wrote:

I looked at their terms and conditions, and I don't see anything out of the ordinary except an APR that seems typical for store cards.  I look forward to hearing the saga of the US Bank Kroger 123 Card.  I like a good story.

I dislike my Sam's Club Credit card intensely, although they haven't done anything to me that I didn't allow them to do.  I consider GE Money Bank to be loan sharks.

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Same here! (grabbing popcorn...)

Good luck, DI! Keep us posted.

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I'm not pushing it. Closing the account is good enough.  I had it on the chopping blocks anyway.  We have no Kroger stores in FL.. 

[DI]

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@Anonymous wrote:

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@DI wrote:

My credit reports don't need US Bank $5300 credit line since its about to get  $17,000 in new credit reported soon. 

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They should have waived the fee, whats $10 to them??? 17,000 in new credit??????????? You get yourself some new sweet CC's or some CLI's? Congrats on that!!!!

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New credit cards.  $4000 Chase Amazon Rewards, $4000 AMEX Blue Sky and $9,000 USAA  Rate Advantage. 

[tpatterson2k9]

DI, if you don't mind me asking, how many CCs do you have at this point?  I see a lot of your posts and it seems like you're the most credit-addicted member here!  How have your scores held up with all those inquiries?  Is it really the inquiries that drag a score down and not so much the actual accounts (other than the AAoA factor)?

[DI]

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@tpatterson2k9 wrote:

DI, if you don't mind me asking, how many CCs do you have at this point?  I see a lot of your posts and it seems like you're the most credit-addicted member here!  How have your scores held up with all those inquiries?  Is it really the inquiries that drag a score down and not so much the actual accounts (other than the AAoA factor)?

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I have 11 active CC accounts reporting.  Soon as I see a confirmation of AMEX  reporting my 1997 member since date, I'll be closing 3- 4 accounts.   Inquiries hardly affect FICO scores.  I had a FICO score of 771 with 26 inquiries reporting on my TU back in 2009.    Without any miss payments, its usally high balances and decreases in AAoAs that affects one's FICO score the most. 

[Anonymous]

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@ChesterPDexter wrote:

No offense, DI, but don't you know (I mean, isn't it typical) that anytime you use a credit card for cash purposes, it is treated as a cash advance transaction?

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Not sure what is typical, but a search for checking account opening bonus deals, such as on FW, will reveal multiple "atypical" results. I have to take their word for it, as it is hard to justify the risk of a failed experiment when the most rewarding CC only gives me 1.5% back.

[Anonymous]

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@ChesterPDexter wrote:

That is cheesy of them.  I am glad you are still ahead.  I am so tired of cheezy, sleezy card companies and when I pay off my Sam's Club, I wll be done with them.  On to bigger and better things.

A REAL credit card company will waive a fee for you.  The loan shark companies know that there is fresh meat for them right around the corner so they don't mind losing a customer.

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I have never heard of any bank waiving a cash advance fee.  Annual fees and ATM fees, yes.  But not interest or cash advance fees.

[Anonymous]

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@DI wrote:

The $10 payment is on its way from my bank.  Close the account immediately.  You people are loan sharks.

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That's why you have to actually read the account terms. 

[MojaveMoon]

I respectfully disagree with DI's conclusion on what constituted the best reaction/course of action following the cash advance fee.

First, I can sympathize. I've learned some aspects about credit the hard way such as a few years ago when I made purchases to a credit card which had a balance transfer on it; I was shocked to learn that banks apply payments to the balance with the lower APR instead of to the balance with the purchase APR.

But what happened to you is not a unique situation. I learned about it awhile ago in this thread at another forum; google search for "The Ultimate USAA Bank Thread, version 2.0, updated 4/18/07"

It was in either that thread or the version 1.0 thread that people compared notes and found out that deposits into USAA from lots of different issuers of credit cards incurred a cash advance fee.

And in another thread (link) I found out that even doing a deposit into USAA from another brand of checking account via a "debit card cash advance" can incur a fee; stef37 said she "was charged an 'out of network'  ATM network fee of $5 from Chase for using my DEBIT card"

Third, I that closing your Kroger credit card closed an opportunity. Suppose that your other cards are occupied with a balance or a balance transfer or a high APR but your Kroger was not being used. And suppose you find yourself needing cash in your USAA checking account for some emergency. Such was the type of predicament I had found myself in --- on the payment due date, Citibank hadn't yet received my mailed in payment and I didn't have enough quite enough cash just yet in my USAA checking account to make a payment. I then deposited cash into the USAA checking account via a cash advance from another credit card and then made a same day online payment to Citibank from out of the USAA checking account.

[barbaralee]

I guess I'm not getting why US Bank are bad guys for not waiving your fee. If it's not a bank error why should they waive your fee?

[Anonymous]

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@barbaralee wrote:

I guess I'm not getting why US Bank are bad guys for not waiving your fee. If it's not a bank error why should they waive your fee?

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Some people have a sense of entitlement.