http://www.christianpf.com/they-cancelled-my-credit-card/ Christian Personal Finance - Financial help, debt help and other financial resources Sat, 21 Nov 2009 05:30:02 -0600 hourly 1 http://www.christianpf.com/they-cancelled-my-credit-card/comment-page-1/#comment-17711 Kate Sun, 08 Nov 2009 22:42:36 +0000 http://www.christianpf.com/they-cancelled-my-credit-card/#comment-17711 Wamu/Chase Manhattan closed my credit card account for no reason at all and my credit score plummeted 25 points. I have not yet managed to return it to the original level and it took me years to get it as high as it was. They ruined my credit for nothing. Wamu/Chase Manhattan closed my credit card account for no reason at all and my credit score plummeted 25 points. I have not yet managed to return it to the original level and it took me years to get it as high as it was. They ruined my credit for nothing.

]]> http://www.christianpf.com/they-cancelled-my-credit-card/comment-page-1/#comment-13989 Citizen Fri, 17 Jul 2009 05:19:46 +0000 http://www.christianpf.com/they-cancelled-my-credit-card/#comment-13989 Why are all you people obsessed with your credit score? The bankers invented that term to get you enslaved with debt. Forget credit. Don't buy what you can't afford. Can't afford a house? Rent. Save until you can buy a house one day. The same with your car. Buy a clunker to get to work. Save and then buy a better car later. Don't waste money on idiotic things like Christmas gifts. Have you ever wondered who started that insane trend? Be wise. Why are all you people obsessed with your credit score? The bankers invented that term to get you enslaved with debt. Forget credit. Don’t buy what you can’t afford. Can’t afford a house? Rent. Save until you can buy a house one day. The same with your car. Buy a clunker to get to work. Save and then buy a better car later. Don’t waste money on idiotic things like Christmas gifts. Have you ever wondered who started that insane trend? Be wise.

]]> http://www.christianpf.com/they-cancelled-my-credit-card/comment-page-1/#comment-9161 Curtis Tue, 06 Jan 2009 18:38:54 +0000 http://www.christianpf.com/they-cancelled-my-credit-card/#comment-9161 Any financial account necessarily has some cost to it. Think about all of the people who are employed to service accounts (CSRs, database/software technicians, and so on). Accounts that are used defray these costs with finance charges, fees and transaction charges (paid by merchants), whereas dormant accounts do not defray any costs. For a few accounts, it probably costs more for them to go through the account closing process than to just let them stay open, but if there are a significant number of dormant accounts, it's much cheaper to close them all. Of course, some larger companies probably do regular checks to see which accounts are dormant and should be closed, such as on a monthly or quarterly basis. Any financial account necessarily has some cost to it. Think about all of the people who are employed to service accounts (CSRs, database/software technicians, and so on). Accounts that are used defray these costs with finance charges, fees and transaction charges (paid by merchants), whereas dormant accounts do not defray any costs. For a few accounts, it probably costs more for them to go through the account closing process than to just let them stay open, but if there are a significant number of dormant accounts, it’s much cheaper to close them all. Of course, some larger companies probably do regular checks to see which accounts are dormant and should be closed, such as on a monthly or quarterly basis.

]]> http://www.christianpf.com/they-cancelled-my-credit-card/comment-page-1/#comment-9159 The Carnival of Debt Reduction (Like Suze Orman Would Do) » American Consumer News Tue, 06 Jan 2009 15:49:58 +0000 http://www.christianpf.com/they-cancelled-my-credit-card/#comment-9159 [...] at Christian Finances was surprised to find They cancelled his credit card because he has good credit and his account was in good standing. Broke is: treating credit card [...] [...] at Christian Finances was surprised to find They cancelled his credit card because he has good credit and his account was in good standing. Broke is: treating credit card [...]

]]> http://www.christianpf.com/they-cancelled-my-credit-card/comment-page-1/#comment-9156 Dani Saxon Tue, 06 Jan 2009 13:59:00 +0000 http://www.christianpf.com/they-cancelled-my-credit-card/#comment-9156 Credit cards are often the first step for a consumer to build their credit score. Our overall credit history will determine how our credit is affected by having numerous credit cards. However, having an overabundance of credit cards with high balances or credit availability can negatively impact risk scores if our credit history is questionable. This advice was given to me by the financial advisers of bills.com. They were of great help to me. Credit cards are often the first step for a consumer to build their credit score. Our overall credit history will determine how our credit is affected by having numerous credit cards. However, having an overabundance of credit cards with high balances or credit availability can negatively impact risk scores if our credit history is questionable. This advice was given to me by the financial advisers of bills.com. They were of great help to me.

]]> http://www.christianpf.com/they-cancelled-my-credit-card/comment-page-1/#comment-9130 bob Mon, 05 Jan 2009 16:03:33 +0000 http://www.christianpf.com/they-cancelled-my-credit-card/#comment-9130 Yea, we use our debit cards for just about everything... Yea, we use our debit cards for just about everything…

]]> http://www.christianpf.com/they-cancelled-my-credit-card/comment-page-1/#comment-9127 Craig Mon, 05 Jan 2009 14:30:44 +0000 http://www.christianpf.com/they-cancelled-my-credit-card/#comment-9127 @Bob That's pretty impressive. Do you use debit as well since basically that's just cash? Curious to find out how that works for you and if it improves your situation. Besides emergencies, I'm assuming you use them if you have online purchases or somewhere that has to be paid in credit card, but that's a great strategy to rely strictly more on cash. @Bob That’s pretty impressive. Do you use debit as well since basically that’s just cash? Curious to find out how that works for you and if it improves your situation. Besides emergencies, I’m assuming you use them if you have online purchases or somewhere that has to be paid in credit card, but that’s a great strategy to rely strictly more on cash.

]]> http://www.christianpf.com/they-cancelled-my-credit-card/comment-page-1/#comment-9105 Credit Karma Roundup - Wishing All a Happy New Year! Sun, 04 Jan 2009 11:19:03 +0000 http://www.christianpf.com/they-cancelled-my-credit-card/#comment-9105 [...] They cancelled my credit card says Christian PF. [...] [...] They cancelled my credit card says Christian PF. [...]

]]> http://www.christianpf.com/they-cancelled-my-credit-card/comment-page-1/#comment-9092 bob Sat, 03 Jan 2009 15:11:04 +0000 http://www.christianpf.com/they-cancelled-my-credit-card/#comment-9092 @Craig we are basically done with them - my wife and I both carry a credit card in our wallets, but they are for emergencies only... @Craig
we are basically done with them – my wife and I both carry a credit card in our wallets, but they are for emergencies only…

]]> http://www.christianpf.com/they-cancelled-my-credit-card/comment-page-1/#comment-9083 Craig Fri, 02 Jan 2009 20:35:10 +0000 http://www.christianpf.com/they-cancelled-my-credit-card/#comment-9083 Congrats on paying off the debt. Are you basically done with CC for good? Or just going to be more careful in order to fully pay the bill each month? Congrats on paying off the debt. Are you basically done with CC for good? Or just going to be more careful in order to fully pay the bill each month?

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