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Thread: Cancelling credit cards

  1. #11
    Iridium
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    Re: Cancelling credit cards

    Quote Originally Posted by Horn View Post
    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.
    life is good.

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  3. #12
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    Re: Cancelling credit cards

    Quote Originally Posted by Horn View Post
    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

  4. #13
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    Re: Cancelling credit cards

    Quote Originally Posted by Hitch View Post

    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.

  5. #14
    Unobtanium Dogman's Avatar
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    Re: Cancelling credit cards

    Quote Originally Posted by hoarder View Post
    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.

    Attachment 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
    "My reading no matter how transient is a dagger in the heart of ignorance."

  6. #15
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    Re: Cancelling credit cards

    Quote Originally Posted by hoarder View Post
    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.
    life is good.

  7. #16
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    Re: Cancelling credit cards

    Quote Originally Posted by cheka. View Post

    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?
    life is good.

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    cheka. (21st October 2017)

  9. #17
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    Re: Cancelling credit cards

    Quote Originally Posted by Dogman View Post
    Attachment 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.

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    Dogman (21st October 2017)

  11. #18
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    Re: Cancelling credit cards

    Quote Originally Posted by Hitch View Post
    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?

  12. #19
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    Re: Cancelling credit cards

    Quote Originally Posted by hoarder View Post
    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.
    life is good.

  13. #20
    Unobtanium Dogman's Avatar
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    Quote Originally Posted by hoarder View Post
    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!
    "My reading no matter how transient is a dagger in the heart of ignorance."

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