That Other Shoe...

[tinglywoowoo]

Within the last year, I decided it was in my best interest to get rid of my WalMart and Amazon cards. No matter what I did, those balances just kept ballooning. I thought Synchrony and Cap One would rip my tuches apart because I'd had both cards for quite awhile-- both with nice CLs. There was a blowback of a couple of points and... nada. I got rid of my Citi Double Cash Back, too. I had a $1000 limit and an exorbitant interest rate, and nary a chamge in sight. Citi was very nice (surprisingly so) and asked if I'd care to have them see if there was something they could do. I said, "No" because it is my considered opinion that reversal of course is usually fatal at such a late date. And, as mentioned before, Target finally put a crowbar to their wallet and upped my CL on a new MC. Last week, I got a note that I'd been expecting re: end of David's Bridal card. It was a good bit of plastic that helped me with the purchase of my daughter's wedding gown and I thank them for that.

Tonight I decided I wanted a couple of rings and the notice popped up that said I can save $20 if approved for a PayPal card. Really? I closed my PayPal account about four years ago, give or take. In retrospect, I was probably being a bit too cavalier about giving them another shot--- but they approved my app! $3400 CL isn't a king's ransom by a danged sight but it's better than what they gave me last go 'round. I didn't think any company brought one back into the fold after being ditched by the consumer-- or, at least, wouldn't do so until a very long time elapsed since the parting of ways.. I had five inquiries before this but two will be dropping off within the month. 

No matter the approval or CL involved, I always feel stupified over getting the green light. I guess it's true what Rick Bragg said in All Over But the Shoutin': being Southern means always waiting for the other shoe to drop. Well, ain't it the truth?

"We were just a band that made it very, very big-- that's all." --John Lennon

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[Anonymous]

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@tinglywoowoo wrote:

 I didn't think any company brought one back into the fold after being ditched by the consumer-- or, at least, wouldn't do so until a very long time elapsed since the parting of ways.. 

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Just on this:  companies don't care unless a) there is something like a chargeoff or included in BK, or b) esp with Amex, "abuse", e.g. getting cards for a sign up bonus and quickly closing once achieved.

With the above exceptions, companies don't hold grudges in the way we do, if they think they can make money....!

[pizzadude]

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@Anonymous wrote:

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@tinglywoowoo wrote:

 I didn't think any company brought one back into the fold after being ditched by the consumer-- or, at least, wouldn't do so until a very long time elapsed since the parting of ways.. 

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Just on this:  companies don't care unless a) there is something like a chargeoff or included in BK, or b) esp with Amex, "abuse", e.g. getting cards for a sign up bonus and quickly closing once achieved.

With the above exceptions, companies don't hold grudges in the way we do, if they think they can make money....!

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Agree with this, for example - Cap1 is known to welcome customers back within months of being burned in BK.

[Lou-natic]

Are you saying you think bad things are supposed to happen when you close a credit card account in good standing? Because banks would much rather you close an account in good standing than have to deal with people not paying their bills. Of course they'll let you open another account in the future if you closed one in the past especially if it was in good standing and paid as agreed at the time of closure. They aren't jealous ex-lovers, they're banks. There is no "other shoe" with them, just money.

[Remedios]

I'm confused 

[OmarGB9]

Umm...creditors don't care if you close an account in good standing with them, unless it's a pattern and usually that pattern only appears when sub chasing/churning cards. If it's a card you opened and kept a few years and just decided to close (which appears to be the case here), there's no problem. They'll welcome you back with open arms provided your credit profile meets their UW criteria. 

[Kforce]

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@Remedios wrote:

I'm confused 

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I'm glad

Thought I was alone in not understanding

[Remedios]

Is this an approval thread? 

[coldfusion]

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@Remedios wrote:

Is this an approval thread? 

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Magic 8-Ball says YES.

[FireMedic1]

I'm normally not one to brag about my financial skills. But my credit card company calls me almost everyday to inform me my balance is outstanding!!!!!