Cancelling credit cards

[Hitch]

I went through the rather painful experience of cancelling a credit card this morning. I've only had 2 cards over the past 20 years or so, and decided since I don't carry any balances, I didn't need 2, so I cancelled one.

It took over 30 minutes on the phone to cancel the card. I was transferred to 7 different people, 3 security specialists, and had to answer question after question to do this. They make it very easy to get credit cards, cancelling them however, seems like an endless process.

Anyway, here's a good rant on credit cards for any of you Dave Ramsey fans. There's some very interesting facts about credit cards in this short video, and it's worth a watch, imo.


https://www.youtube.com/watch?v=np5i5oWfqAo

[Camp Bassfish]

I have ONE credit card now. My painful experience was with Home Depot when I wanted to cancel theirs. I did a credit report and found out that Home depot had raised my credit limit from $5k to $20K. Now mind you, I never had a balance on the card to begin with. My credit score went down because I had "unused available credit". I need one card for travel, but that's it.

[Joshua01]

Credit score goes down when you have a higher balance than the month before. The credit score scam is just another way the goy are controlled and manipulated
I have ONE credit card now. My painful experience was with Home Depot when I wanted to cancel theirs. I did a credit report and found out that Home depot had raised my credit limit from $5k to $20K. Now mind you, I never had a balance on the card to begin with. My credit score went down because I had "unused available credit". I need one card for travel, but that's it.

*Edited to correct typo

[cheka.]

Credit score goes down when you have excess unused credit and when you use more credit than the month before. The credit score scam is just another way the goy are controlled and manipulated

you sure about that? one of the key metrics (i read) is the ratio of used/unused credit, the lower the better for score

[cheka.]

I went through the rather painful experience of cancelling a credit card this morning. I've only had 2 cards over the past 20 years or so, and decided since I don't carry any balances, I didn't need 2, so I cancelled one.

It took over 30 minutes on the phone to cancel the card. I was transferred to 7 different people, 3 security specialists, and had to answer question after question to do this. They make it very easy to get credit cards, cancelling them however, seems like an endless process.

Anyway, here's a good rant on credit cards for any of you Dave Ramsey fans. There's some very interesting facts about credit cards in this short video, and it's worth a watch, imo.


https://www.youtube.com/watch?v=np5i5oWfqAo

that guy is beneath this board. more for your shopaholic sister or mother in law

he preaches the exact wrong thing in a depreciating currency world -- pay debts off early. better served to take that extra money and buy assets that appreciate while the loan payments depreciate (get cheaper) over time.

this assumes you aren't in some stupid high interest loan

[crimethink]

that guy is beneath this board. more for your shopaholic sister or mother in law

he preaches the exact wrong thing in a depreciating currency world -- pay debts off early. better served to take that extra money and buy assets that appreciate while the loan payments depreciate (get cheaper) over time.

this assumes you aren't in some stupid high interest loan

Dave Ramsey is a System tool lying con-man.


He loves to tell underwater folks that they are "morally obligated" to pay the usurers back at all costs, and that bankruptcy "should be avoided" even when debts are unpayable in human terms:


https://www.daveramsey.com/blog/the-basics-of-bankruptcy

Live on a Bare-Bones Budget [but see Connect With a Financial Coach, below, LOL -ct]

You’re trying to avoid bankruptcy here. That means your budget has no room for frills. No streaming services, no cable, no huge cell phone plans, no dining out, and no vacations until you’re out of debt. Buy generic food, eat beans and rice, and drink water from the tap. Drink coffee you brewed yourself, not a barista. And stick to your budget. Drastic times call for drastic measures.

Get a Second Job

These days, it’s not uncommon to hear of someone working a second (or third) job. Having an additional source of income can help you avoid bankruptcy. Just be sure you’re putting the extra income toward paying off your debts. Getting a second job will mean sacrificing time with family and friends, and we know that’s hard. But remember—this situation is only temporary. You won’t have to live like this forever. If you live like no one else, so later you can live like no one else, the payoff will be worth all your effort.

Connect With a Financial Coach [<--- uh, this isn't free - ct - see below *]

Sometimes it’s best to sit down and talk with a financial coach when you need guidance with money issues. Don’t let that intimidate you. When looking for a financial coach, just make sure you find someone who has the heart of a teacher. You want a person who will walk with you and guide you along the way—not someone looking to take advantage of your situation.

Don’t let bankruptcy become your only way out! Avoid bankruptcy and get your finances in order by contacting a financial coach in your area.



Ramsey teaches Babylon Banking's "morality."

This is God's morality: "At the end of every seven years you must cancel debts. This is how it is to be done: Every creditor shall cancel the loan he has made to his neighbor. He shall not require payment from his neighbor or brother, because Yahweh’s time for canceling debts has been proclaimed." -- Deuteronomy 15:1-2


As for credit cards, your first decision is this: Are you going to avoid all transactions with the Mystery Babylon System that require credit/debit cards? If yes, then God bless you, and go on using cash and barter. If no, then I recommend having at least two credit cards. Not a debit card. A debit card offers little to no protection against fraud or crooked merchants; credit cards give you chargeback rights, and, a fraudster can't easily drain your checking account with a credit card. Having just one credit card means you are relegated to having no credit card when the bank's automated fraud detection system turns off your card at the worst possible moment. A second card gives you an option in such case. Of course, unless you're a Goyish fool, you will want to pay off your credit card(s) in full each month, to avoid usury. However, if you select your card(s) right, you can make the banks pay you to use it. Run all corporate bills (those are bills charged to you by corporations) through them, and get a reward from such transactions. No, corporations don't lower prices because you use cash...they charge just as much as they possibly can no matter what. Only for non-corporate, small-time local businesses (or for privacy) should you use cash. "I don't want banks/government/whatever knowing all my financial business." Well, they already have access to your utility bills, insurance policies, and all other corporate bills, so you're not shielding anything by using cash or a money order...and losing out on a cut of of the transaction fees (as a reward). Groceries bought without a loyalty card and similar are another story - use cash if you like.

Of course, if you are unable to control yourself, and want to rack up your credit card(s) to the limit like a Nigger, then maybe this advice isn't for you...



--

* https://www.daveramsey.com/coaching/faq

Will you set up a payment plan for my coaching fee?

We do not want to become your creditor, so we do not divide the fee into payments. As a result, we request the payment in full up front by either a debit card or bank draft. Remember, financial coaching is the most detailed service we offer, which is why it's one of the most costly.

[crimethink]

you sure about that? one of the key metrics (i read) is the ratio of used/unused credit, the lower the better for score

The (((Fair, Isaac & Company))) [FICO] score is paradoxical on that...too high a debt ratio, down it goes, too much unused credit, down it goes. Granted, the former is much harsher an effect than the latter. The thinking being that if you have $20,000 unused unsecured credit, you could instantly load it up.

The algorithms involved in the FICO score are something only a Jew, or someone who thinks like a Jew, can appreciate.

FAKO scores (e.g., VantageScore) are just about worthless for the Goyish consumer; they were invented as a cheap imitation of the FICO score (which is what nearly all Babylon Banking entities actually use for "business decisions"). It pains me when people actually pay for such shit.

If we actually had a government, this bullshit would be eliminated under RICO statutes.

[Joshua01]

Sorry, that was a typo. You're right, the lower my balance the lower my score.
you sure about that? one of the key metrics (i read) is the ratio of used/unused credit, the lower the better for score

[Hitch]

As for credit cards, your first decision is this: Are you going to avoid all transactions with the Mystery Babylon System that require credit/debit cards? If yes, then God bless you, and go on using cash and barter. If no, then I recommend having at least two credit cards. Not a debit card. A debit card offers little to no protection against fraud or crooked merchants; credit cards give you chargeback rights, and, a fraudster can't easily drain your checking account with a credit card. Having just one credit card means you are relegated to having no credit card when the bank's automated fraud detection system turns off your card at the worst possible moment. A second card gives you an option in such case. Of course, unless you're a Goyish fool, you will want to pay off your credit card(s) in full each month, to avoid usury. However, if you select your card(s) right, you can make the banks pay you to use it. Run all corporate bills (those are bills charged to you by corporations) through them, and get a reward from such transactions. No, corporations don't lower prices because you use cash...they charge just as much as they possibly can no matter what. Only for non-corporate, small-time local businesses (or for privacy) should you use cash. "I don't want banks/government/whatever knowing all my financial business." Well, they already have access to your utility bills, insurance policies, and all other corporate bills, so you're not shielding anything by using cash or a money order...and losing out on a cut of of the transaction fees (as a reward). Groceries bought without a loyalty card and similar are another story - use cash if you like.

I agree with you CT, though I'm down to one credit card now, with no balance of course. I do think you are being too hard on Dave Ramsey. He's helped a lot of people gain control over their lives and finances. He's basically anti bank, like most of us are. Debt is slavery, and all that. Plus, his whole thought process is by working hard and building wealth, you have more to give, more to help others, and that's the fun part as he says. Having wealth to help other people.

In one video, he says he has a FICO score of zero. He explains how it's a huge scam on the public.

I really like his videos. Short, to the point, and he puts them out for free. He doesn't ask for anything, and when people call in he gives them his books, and products for free often to just help them out.

Here's the fico score video. Yes, stuff we most likely know, but a good rant nonetheless....


https://www.youtube.com/watch?v=nzoOCbgO8CI

[Horn]

Sorry, that was a typo. You're right, the lower my balance the lower my score.

If you cancel any credit card that will give your credit score a hit. Is most likely why they gave Hitch the run through.

He just suicided him credit self.

[Hitch]

If you cancel any credit card that will give your credit score a hit. Is most likely why they gave Hitch the run through.

He just suicided him credit self.

Well, I pulled my credit report to check. It's reporting that credit card closed now, and surprisingly, I didn't take a credit score hit. (Yet) that is. My score is embarrassingly high, at 816. I expected a smack down, but didn't get it yet.

I must say, it feels pretty good to just have one credit card. Keeping finances simple, and paid off, just makes life easier.

[cheka.]

If you cancel any credit card that will give your credit score a hit. Is most likely why they gave Hitch the run through.

He just suicided him credit self.

I think there is a sweet spot -- too few cards and too many cards are both negative

I use the two cards - both with generous kickbacks. my primary is 2% kickback (cash, not points/miles) on every purchase. I make 600 to 1000 frn per year on that

[hoarder]

It took over 30 minutes on the phone to cancel the card. I was transferred to 7 different people, 3 security specialists, and had to answer question after question to do this. They make it very easy to get credit cards, cancelling them however, seems like an endless process. It ain't over yet. In a couple weeks you'll get a bill for $2.48 cents interest on the unpaid balance between the time you got your payoff and they got your check cleared.
Then when you send them the $2.48 the following month you will get a bill for interest on the $2.48 from the time you got the bill until they received it. Lather, rinse and repeat.
If there is a clause that they can add a service fee to it, they add that to it and charge interest on that until it's all paid off.

[Dogman]

It ain't over yet. In a couple weeks you'll get a bill for $2.48 cents interest on the unpaid balance between the time you got your payoff and they got your check cleared.
Then when you send them the $2.48 the following month you will get a bill for interest on the $2.48 from the time you got the bill until they received it. Lather, rinse and repeat.
If there is a clause that they can add a service fee to it, they add that to it and charge interest on that until it's all paid off.


9375

You are funny, but other than clearing up small change, mybe two billing cycles to see if nothing is added, poof, $0 and you are free of owing them a dam thing. Now for credit limits ?

Good advice if you want sumpthing , save your coin until you can instantly pay the sonof a bitch off and stay away from credit. Is useful to have but sinking into that hole, well you signed up to and for it. And enjoy the self pain.

han 5000 miles and I can say truely less than 10 fillups will be payed off within 6 months of a 5
My mazda, with less 60 month contract..Yes they made money but also in the end i have a car, that no one has ever farted (except me) in it.

So credit is a double edged thngy.

But always great and welcome not to own any soneabitch nadda.

I always have questioned why have more than at a max of 2 cards, mostly in the past, not sure today. That your card will be accepted? No mater where you are.

Today not so near bad, but in the day not all accepted your plastic.

No plastic = Great !

But buyin that you can not pay immaturely , Plastic = good , if you are honest and

Owing no one it is what many wish for, cash in hand it great, or barter !


Scuse spelling.

tired, and am on a one way street and counting down

Peace

[Hitch]

It ain't over yet. In a couple weeks you'll get a bill for $2.48 cents interest on the unpaid balance between the time you got your payoff and they got your check cleared.
Then when you send them the $2.48 the following month you will get a bill for interest on the $2.48 from the time you got the bill until they received it. Lather, rinse and repeat.
If there is a clause that they can add a service fee to it, they add that to it and charge interest on that until it's all paid off.

I've heard of this scam, but thankfully there was no balance on this card. For months, the balance has been zero. Interest on a zero balance, is zero. According to my credit report, it's closed and done. I'll keep an eye on it, just to be sure, but I should be good.

[Hitch]

I use the two cards - both with generous kickbacks. my primary is 2% kickback (cash, not points/miles) on every purchase. I make 600 to 1000 frn per year on that

The one card I keep, has a 2% cash back on all purchases. Plus, no yearly fee. I had a choice a month back. Write a check for servicing on the car for $800, or charge it. I charged it, got $16 back. I had the money in the bank, but why not get the $16 for free?

[hoarder]

9375

You are funny, but other than clearing up small change, mybe two billing cycles to see if nothing is added, poof, $0 and you are free of owing them a dam thing. The second to the last credit card I cancelled actually did as I described in the previous post. When I cancelled the last credit card, I was pro-active and told them I need to have a once and for all, no nonsense final payoff, and I even described the routine the last CC company put me through. They said they understood and said all I had to do was pay the total on the bill I just received and that would be the end of it. Then the assholes proceeded to do the exact same shit as the other company did. I did not pay them.

It's pretty hard to get by without a credit card nowadays. I have a debit card, but that only works for domestic transactions.
I have been trying to order some 24 VDC light bulbs from the only company in the world who sells good ones, they are in Canada. I've been working on this transaction for weeks and I sent them a cashiers check this week. They will send the bulbs after it clears their bank in Canada in a couple weeks.
If I had a CC I would have had them in my hand weeks ago.

[hoarder]

I've heard of this scam, but thankfully there was no balance on this card. For months, the balance has been zero. Interest on a zero balance, is zero. According to my credit report, it's closed and done. I'll keep an eye on it, just to be sure, but I should be good.How can an account ever get zeroed if they charge interest on the balance from the time they send the bill until they receive my payment?

[Hitch]

How can an account ever get zeroed if they charge interest on the balance from the time they send the bill until they receive my payment?

They don't charge interest if you pay it off in the first month. Maybe that's how I got a zero balance. I routinely paid off the full balance before interest was charged. There was a zero balance for months, so I didn't have this issue.

That's a damn good point you make though. Once they got their hooks in you, damned if they let them go.

[Dogman]

The second to the last credit card I cancelled actually did as I described in the previous post. When I cancelled the last credit card, I was pro-active and told them I need to have a once and for all, no nonsense final payoff, and I even described the routine the last CC company put me through. They said they understood and said all I had to do was pay the total on the bill I just received and that would be the end of it. Then the assholes proceeded to do the exact same shit as the other company did. I did not pay them.

It's pretty hard to get by without a credit card nowadays. I have a debit card, but that only works for domestic transactions.
I have been trying to order some 24 VDC light bulbs from the only company in the world who sells good ones, they are in Canada. I've been working on this transaction for weeks and I sent them a cashiers check this week. They will send the bulbs after it clears their bank in Canada in a couple weeks.
If I had a CC I would have had them in my hand weeks ago.

All with thought and a mind always to all for ballenc!

[Horn]

You should receive a terms notice at all your other cards within the coming weeks removing any cash back perks and interest rate tripling.

Plastic Seppuku.

[cheka.]

They don't charge interest if you pay it off in the first month. Maybe that's how I got a zero balance. I routinely paid off the full balance before interest was charged. There was a zero balance for months, so I didn't have this issue.

That's a damn good point you make though. Once they got their hooks in you, damned if they let them go.

you and hoarder are both right. if you always pay off, no interest, but once you enter the interest game every charge immediately adds to it

hoarder -- I think you know the answer -- you have to add some extra to the final bill payment to cover the interest during that time period from when the bill was generated until they receive and cash your payment

[cheka.]

something stupid I like to do is round all of my bills up to the next whole dollar. makes the fckers keep track of owing me 39 cents :)

I also have a 4.99 unsecured loan from citi from 2005ish. paid it down hard early, then ten bucks a month for last 3 years or so - just for kicks. only 4 more ten dollar payments and that kitchen remodel from 2005 is all mine

[Neuro]

something stupid I like to do is round all of my bills up to the next whole dollar. makes the fckers keep track of owing me 39 cents :)

I also have a 4.99 unsecured loan from citi from 2005ish. paid it down hard early, then ten bucks a month for last 3 years or so - just for kicks. only 4 more ten dollar payments and that kitchen remodel from 2005 is all mine

Time to remodel the Kitchen then!

[cheka.]

Time to remodel the Kitchen then!

or hurricane harvey repairs :mad:

[Neuro]

or hurricane harvey repairs :mad:

I see so you are one of those evil anti-Semitic Israel boycotters, whom uncle Satan won't pay out Harvey reparations too... or does the Harvey reparations only go to California's actors guild nowadays?

[Jewboo]

something stupid I like to do is round all of my bills up to the next whole dollar. makes the fckers keep track of owing me 39 cents :)

I also have a 4.99 unsecured loan from citi from 2005ish. paid it down hard early, then ten bucks a month for last 3 years or so - just for kicks. only 4 more ten dollar payments and that kitchen remodel from 2005 is all mine

https://img.4plebs.org/boards/pol/image/1434/06/1434066075653.jpg

:rolleyes:

[Neuro]

https://img.4plebs.org/boards/pol/image/1434/06/1434066075653.jpg

:rolleyes:

Dayum you are merciless! Still I can't stop laughing!