@bdhu2001 wrote:
@mitchblue wrote:
@Anonymous wrote:
I think it's mostly fear mongering.Probably. Want to be safe though, no manufactured spending. Seems pretty simple to be..
Corporate banks are just trying to find the sweet spot to profit. For a while, after the financial crisis, they were tight on credit and lending. They've discovered that "no risk banking doesn't work." Now they are moving too far over in the other direction. Instead of banking on steady customers who use their cards, sometimes, and sd their cards sometimes, they want to find customers who constantly use and have slimmer chance of pay in full. Thereby increasing their profit. They also want to reduce customers who rack up points, but pay in full. They don't have to give a reason, but that's the bottom line.
We as consumers have no control over what statistic they'll review that gives them a new trend to follow. If we use the card too much and use balance transfers, we scare them. If we use the card too little, we don't create enough of a profit. Either way, they'll decide when to close the card and we have no control over the scenario they'll use to do it.
Don't blame the poster, don't look for other nefarious practices, don't even blame the bank. It just corporate America on steroids looking for the next scheme to hold onto or obtain more of our hard earned money. It's just today's reality.
Your post almost begs the thought ... "GREED" ... certainly would not want to offer such a thought 
@TRC_WA wrote:That's exactly how I operate.
I really don't feel bad for people who get their accounts closed after thousands of dollars in MS. You know you are circumventing T & C when you do it...
I can't meet a $2500 spend bonus so I'll just go out and buy a bunch of GC... yeah, go right ahead, but don't come here complaining that your account was closed.
Definitely. Most people, who have bills, can achieve practically ANY spending limit. Starting with Car Insurance, Light Bill, Cell Phone bill, Water (in some cases) bill, Cable Bill, FOOD, Gas (although gas prices are going down) - Do I need to go on? That is an easy $1000/month for most people.
When you apply for a card with bonus for spending, just decide to use that card for EVERYTHING for the next 3 months (or whatever the timeframe is) and you will be fine. There is absolutely NO need to do any MS. It is rediculous to think that just because you find a "loophole" you should exploit it. It is the same thing as saying that you should keep breaking the law because you didn't get caught. I know, bad analogy as one may involve losing your freedom, whereas one means losing your card, but you get the point.
@bdhu2001 wrote:We as consumers have no control over what statistic they'll review that gives them a new trend to follow. If we use the card too much and use balance transfers, we scare them. If we use the card too little, we don't create enough of a profit. Either way, they'll decide when to close the card and we have no control over the scenario they'll use to do it.
Credit cards are designed as convenience (for a fee of course) so the consumer may pay for something without having the money right away but pay over time or at the time when the statement is cut. They are not designed to be SD or apply to simply boost up the available credit. If you are not using it at all, whats the point of having it? So it is perfectly fine for the issuer to say: This consumer doesn't need this card since they don't use it - so we'll just close it. There is nothing wrong with that.
If we use too much of it, and we are not paying it off right away, credit issuers are worried that you may be spending more than you can afford. The company giving you the credit is within their rights to be worried about the potential risk you pose. So AA is justifiable.
In my opinion, there is nothing wrong with a business mentality. Noone lends someone else money, or continues to extend that credit because it is the "right thing to do". It is a business and a business decision has to be made. I have not heard anyone having their account closed because they have the credit, use it, and pay it off. Problems arise from non-usage, over usage (not paying it off in a reasonable time) and for attempting to "trick" the system such as bonus for spending X amount withink Y time. And if I don't use the card, so be it, I will close it myself - just like I did with my capital one secured card, Credit One or Victoria's Secret cards. Before the lender closed them, I may as well do it myself. I lost a total of $2150 in available credit, but I don't use them, so before they close it on me, I am going to close it myself and have the tradeline show up as "Closed at Consumer's request"
For the WEALLY big spend cards, with no 0% APR, I tend to save up some cash, then buy something I want.
But, OMZG, I just spent 10 at Safeway on a gift card, me think s I should play shuck and dive from Amex? 
@TRC_WA wrote:
@Anonymous wrote:
Agreed. If I sign up for a spend bonus I only sign up for one I can clearly afford to keep up. The wife and I have been meeting our spend bonuses within 4-6 weeks of account opening and that is with multiple spend bonus cards at play. No MS here.That's exactly how I operate.
I really don't feel bad for people who get their accounts closed after thousands of dollars in MS. You know you are circumventing T & C when you do it...
I can't meet a $2500 spend bonus so I'll just go out and buy a bunch of GC... yeah, go right ahead, but don't come here complaining that your account was closed.
Yes!
You evil MSer.
You evil MSer.
