Random question thread.

[Anonymous]

---

@haulingthescoreup wrote:

---

@Anonymous wrote:

It may be fraud but it wouldn't be illegal, nor wrong IMO.

---

http://en.wikipedia.org/wiki/Fraud:

In criminal law, a fraud is an intentional deception made for personal gain or to damage another individual; the related adjective is fraudulent. The specific legal definition varies by legal jurisdiction. Fraud is a crime, and also a civil law violation.

It might be a matter of opinion is to whether it is "wrong", but it's a matter of fact that it's illegal.

---

That's exactly what came to my mind when the poster said fraud was not illegal.

And IMO fraud is wrong, no offense to you shaddix, my reply is just that, a reply, nothing against you.

Now a question, AmEx backdating my CC's, is that fraud?

[haulingthescoreup]

---

@Anonymous wrote:

---

@haulingthescoreup wrote:

---

@Anonymous wrote:

It may be fraud but it wouldn't be illegal, nor wrong IMO.

---

http://en.wikipedia.org/wiki/Fraud:

In criminal law, a fraud is an intentional deception made for personal gain or to damage another individual; the related adjective is fraudulent. The specific legal definition varies by legal jurisdiction. Fraud is a crime, and also a civil law violation.

It might be a matter of opinion is to whether it is "wrong", but it's a matter of fact that it's illegal.

---

I don't think so.. as the same with theft you have to be victimizing something. On top of this it's the CRAs who are making the statement about your account history, not yourself

---

I'm not trying to beat this to death, but the reason that people like having a longer AAoA is because it makes us look more attractive to lenders, as in more attractive than we would otherwise be. That means that we can get better deals than we otherwise would qualify for.

And yes, AU accounts can make AAoA artificially longer, but they are identified as authorized user accounts, so lenders can take that into consideration. Same with the back-dating deal on AmEx's --lenders are aware of it and can decide if they want to take the AAoA at face value.

I'm certainly no huge fan of lenders or CRA's, but I also don't buy the argument that just because (fill in the blank) does something wrong, it's OK for me to cut corners.

[Anonymous]

Sorry I didn't mean fraud in my original comment that fraud was legal. I should have said "It may be deceitful, but I do not think it is fraud" Using fraud as a synonym. 

And yeah they are using the credit report as a basis for lending money, but they aren't asking us. If they asked you personally it would be certainly be fraud if you said you paid your backdated amex card on time for the past 10 years when you've only had it for 2.

So are the CRAs or AMEX defrauding other lenders whent hey report a backdated card? 

[quest208]

the entire system is fraud.  when the banks and credit card do something its just "business."  when the consumer does it, its fraud.

i agree with the whole backdating thing.....but hey.  what do i know. 

im just a noob.

we're all gaming the system, some people just need approval and a pat on the back to justify it or to make themselves feel like its alright.

i say, hey, if you are unable to immediately retain your card, its lost.   you can write your own disclaimer in small print and say that you lost the card for training and educational purposes only.

as for the whole backdating thing.....hey,  they make up membership dates...nobody seems to have a problem with that.

[Anonymous]

---

@quest208 wrote:

i say, hey, if you are unable to immediately retain your card, its lost.   you can write your own disclaimer in small print and say that you lost the card for training and educational purposes only.

---

I will agree with you that selling FAKOs, IMO, is indeed, fraud.  If the FAKOs were always free, that would be one thing but, selling snake oil is just wrong.

[quest208]

oooops, i came here to ask a question and forget.  argh!  silly me.  must be the garden roses in my ears and the thorns on my fingertips.

anyhoo......

suppose i have  5 cards.  what does FICO prefer? 

a) 9% utilization on each card, regardless of each cards credit limit.....or

b) 9% utilization on the ENTIRE credit limit with just one card or a few cards, or

c) lots of 0 balances and total utilization below 9%?

which of those three would FICO prefer?  i guess b) and c) are pretty similar though.

[fused]

---

@quest208 wrote:

oooops, i came here to ask a question and forget.  argh!  silly me.  must be the garden roses in my ears and the thorns on my fingertips.

anyhoo......

suppose i have  5 cards.  what does FICO prefer? 

a) 9% utilization on each card, regardless of each cards credit limit.....or

b) 9% utilization on the ENTIRE credit limit with just one card or a few cards, or

c) lots of 0 balances and total utilization below 9%?

which of those three would FICO prefer?  i guess b) and c) are pretty similar though.

---

I would say for most of us, a balance of $0 on all cards except one. With the one card reporting a balance of less than 9%. Others have earned a few more FICO points for having the one card reporting a balance closer to 1-2%.

[Odiseous]

---

@Anonymous wrote:

---

@quest208 wrote:

i say, hey, if you are unable to immediately retain your card, its lost.   you can write your own disclaimer in small print and say that you lost the card for training and educational purposes only.

---

I will agree with you that selling FAKOs, IMO, is indeed, fraud.  If the FAKOs were always free, that would be one thing but, selling snake oil is just wrong.

---

Tell that to the Chinese immigrant laborers from the 1860s.

http://www.collectorsweekly.com/articles/how-snake-oil-got-a-bad-rap/

[quest208]

what is the difference in requirement between the amex platinum and the amex green?

[dalebb]

---

@quest208 wrote:

the entire system is fraud.  when the banks and credit card do something its just "business."  when the consumer does it, its fraud.

i agree with the whole backdating thing.....but hey.  what do i know. 

im just a noob.

we're all gaming the system, some people just need approval and a pat on the back to justify it or to make themselves feel like its alright.

i say, hey, if you are unable to immediately retain your card, its lost.   you can write your own disclaimer in small print and say that you lost the card for training and educational purposes only.

as for the whole backdating thing.....hey,  they make up membership dates...nobody seems to have a problem with that.

---

they make the rules,, i just play the game