The system is rigged

[gimmie11s]

Yeah, I've never had more than 2 credit cards... One for a backup, as I exercise them both...

I was more talking about the claim of only $1k balance on all those cards lol


Teasing either way, but yah. Agree with you. I have 3 in my rotation. One for work exclusively that gets cleared weekly via expense reports, 1 for gas, and one for my monthly bills.

 

[gimmie11s]

I am one of the relatively few that has the discipline to play the CC game and win.

If youre playing the cc game to "win", adjust your strategy a little...

Use one that gives a nice cash kick back % to pay ALL of your monthly bills -- some Co's will give 2 or 3% unlimited cash back. Some will match that 1:1 on your first year.

If you have $5-6k in bills every month (or more), you can earn a couple thousand $$ in cash each year just for using that card.

 

[jshen]

To banks, credit cards are "unsecured debt" and they lose out if you bankrupt/default. I have one card and if it's used I have my bank cut them a check through billpay that same day..

 

[Klaus]

Every time I pay down a credit card to try to increase my credit score, the companies decrease my limit. Has anyone else had this issue. What's the point of paying it down if they're gonna adjust the limit that you pay down. The whole thing is a game that I'm tired of playing.

Just call and request an increase to your limit. I have done this multiple times. Easy peasy.

 

[Lambeau]

We used to call the cc company once in a while to get them to drop the interest rate. Worked every time.
Haven't done it in a while because we pay them off.

 

[black4vcobra]

Just call and request an increase to your limit. I have done this multiple times. Easy peasy.

Some CC companies pull a credit report to implement a credit limit increase. In that case it may not be worth it.

 

[JaCobro]

Was it capital one? They’ve done that to me. Probably bc I hardly ever use it. However BoA keeps increasing by the thousands. And I hardly use it too.

 

[Morgan]

If youre playing the cc game to "win", adjust your strategy a little...

Use one that gives a nice cash kick back % to pay ALL of your monthly bills -- some Co's will give 2 or 3% unlimited cash back. Some will match that 1:1 on your first year.

If you have $5-6k in bills every month (or more), you can earn a couple thousand $$ in cash each year just for using that card.

But with his strategy, he also gets to visit the chiropractor 2-3x per month to realign his pelvis from sitting on that brick of plastic.

 

[CobraBob]

This.....and those MOFOS want you in debt

They want you to carry high balances month to month. Big money there. That's their game. They don't like me much because I haven't carried a balance on any credit card for over 20 years.

 

[MG0h3]

I had my limit on a card decrease because I stopped using it. Honestly it's better for your credit report to continuously paying down balances on time instead of having 0 balances. It shows your credit worthiness.

Paying interest on a CC is not worth the bump in credit worthiness.

I haven’t paid interest on a CC once in my life. Even struggling when I moved out at 18, I would use 0% balance transfers if I got in trouble.

Credit score bounces around from 780-850 for whatever reasons. There is no difference in interest rates when I shop mortgages with a score in that range.


Sent from my iPhone using the svtperformance.com mobile app

 

[OX1]

Every time I pay down a credit card to try to increase my credit score, the companies decrease my limit. Has anyone else had this issue. What's the point of paying it down if they're gonna adjust the limit that you pay down. The whole thing is a game that I'm tired of playing.

I tell them to lower my limit all the time. Why do I need a 20 (or more) grand limit, seems just more attractive to fraud. I also have not had a balance that is not paid off the next month, for 15 years.

 

[BlckBox04]

Paying interest on a CC is not worth the bump in credit worthiness.

I haven’t paid interest on a CC once in my life. Even struggling when I moved out at 18, I would use 0% balance transfers if I got in trouble.

Credit score bounces around from 780-850 for whatever reasons. There is no difference in interest rates when I shop mortgages with a score in that range.


Sent from my iPhone using the svtperformance.com mobile app

I don't think very low interest rates are terrible as long as you're not carrying huge balances

 

[HudsonFalcon]

I’ve had a credit card decrease my limit due to non usage.

 

[1 Alibi 2]

I've had my limit reduced a couple of time,....................on cards I don't use..
.

 

[03cobra#694]

My wives cards have more credit line than mine, and I a few that are large. I'm the one that makes bank. Her credit rating was higher last time I looked too. Have way to many cards. I think, like 8. No balance on any of them.

 

[Blk04L]

Interesting. I mainly use a few cards but some only get automatic charges like Utility/insurance etc... never a decrease, only increases.

I usually spend 2-3k on the Amex monthly and they just increased the limit to 35k.

 

[rborden]

Every time I pay down a credit card to try to increase my credit score, the companies decrease my limit. Has anyone else had this issue. What's the point of paying it down if they're gonna adjust the limit that you pay down. The whole thing is a game that I'm tired of playing.

1.) it’s not a credit score, it’s a “debt score”.

2.) Never heard of your limit being decreased because you paid it off. Usually they increase your limit when you show responsibility by keeping a low balance.

3.) Got rid of mine and won’t ever have another one again. Don’t want it, don’t need it. If I can’t pay cash for it, I don’t need it that badly.

 

[C2tuck]

Thats 100% opposite of mine. When I pay one off, I get a nice increase. I have 5 and it's with all of them.

I never make a minimum payment though. Always 2 or 3x the min.

Sent from my SM-S908U using the svtperformance.com mobile app

Especially on my business chase ink card. I started out with $15k a couple years ago when I opened it, pay it off in full every month and they consistently increase my limit. Think I’m at $75k now.

What does piss me off is when you pay all your cards off in full every month and your credit score drops. That’s bullshit.

 

[9397SVTs]

I've never had a decrease or increase on my cards.

The only thing I get is notice to close the account if I don't use the card within a specified amount of time. When that happens, I just use it to buy my next tank of gas and I'm good for another year or so.

 

[VegasMichael]

Especially on my business chase ink card. I started out with $15k a couple years ago when I opened it, pay it off in full every month and they consistently increase my limit. Think I’m at $75k now.

What does piss me off is when you pay all your cards off in full every month and your credit score drops. That’s bullshit.

I've discovered that if I pay my balance weekly instead of monthly my score goes up because I never carry much of a balance. So instead of having a balance of 2500-3000 at month's end I never have a balance of more than a few hundred bucks.