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05-25-2011, 08:58 AM | #31 | |
Makes some feel uncomfortable
Join Date: Dec 2005
Posts: 10,346
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Quote:
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"I'm certainly free, nay compelled, to spread the gospel of Spex. " - xoxoxoBruce |
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05-25-2011, 09:45 AM | #32 |
Wearing her bitch boots
Join Date: Apr 2006
Location: Floriduh
Posts: 1,181
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For probably the first time in my life, I could scrape together $2k right now. I would not have to use credit or sell anything or pay a bill late to do so.
I've spent the last decade (since a nasty divorce and subsequently losing my job) getting square again, financially. I work two jobs, make decent money, RENT a nice house and have no credit card debt. My only debt obligation is 1 car payment. It will be paid off in 2 years and I do not plan to ever finance a vehicle again. My goal over the next 5 years is to re-establish my credit with carefully controlled credit card spending and save $25k for a down payment on a condo which I intend to finance for 15yrs. At the same time, I will be heavily saving and investing. Once the condo is paid off, I plan to retire. But for 40 years, I was paycheck to paycheck and always teetering on the edge of financial ruin. Ok sometimes I was deep in the pit of ruin, but I survived somehow. Now I have to find a way to enjoy my retirement years. Part of doing so involves getting healthy, because who the hell can afford major medical costs or wants to spend their retirement as an invalid? So I quit smoking, am losing weight, began eating organic and non-processed, and recently started running and lifting weights. I don't think I've ever been healthier. Stormie
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"First they ignore you, then they ridicule you, then they fight you, then you win." - Mahatma Gandhi |
05-25-2011, 09:59 AM | #33 | |
barely disguised asshole, keeper of all that is holy.
Join Date: Nov 2007
Posts: 23,401
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I too was unaware of this until about 2 years ago when a card I kept just for emergencies was canceled without notice. Spreading misleading information and blatant falsehoods is intellectually dishonest. Your ire is also misdirected.
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"like strapping a pillow on a bull in a china shop" Bullitt |
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05-25-2011, 10:07 AM | #34 | |
Operations Operative
Join Date: Feb 2011
Posts: 495
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It is primarily Capitol One and a few small bank insurers that have a cancellation cause with no recourse. So I would suggest that your statement is spreading misleading information to some degree. |
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05-25-2011, 10:11 AM | #35 |
barely disguised asshole, keeper of all that is holy.
Join Date: Nov 2007
Posts: 23,401
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My card was a Chase card and was canceled.
Again, I am speaking from personal experience. There is nothing misleading about facts, whether you like them or not.
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"like strapping a pillow on a bull in a china shop" Bullitt |
05-25-2011, 10:12 AM | #36 |
Operations Operative
Join Date: Feb 2011
Posts: 495
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Perhaps you just ignored the notice or had credit issues. I dont know the circumstances, I do know the policy. It is a risk management policy and a standard practice among the big three. Even more so since the passage of the CARD Act in 09 (no, the act does not address dormant cards, but it does reaffirm the overall risk management practices).
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05-25-2011, 10:18 AM | #37 | |
Operations Operative
Join Date: Feb 2011
Posts: 495
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05-25-2011, 10:20 AM | #38 |
Radical Centrist
Join Date: Jan 2001
Location: Cottage of Prussia
Posts: 31,423
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J works in the HQ of the card department at one of the banks mentioned, *specifically* in matters like these, and will settle this immediately when she gets home.
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05-25-2011, 10:29 AM | #39 |
Goon Squad Leader
Join Date: Nov 2004
Location: Seattle
Posts: 27,063
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oh snap!
you just wait til momma gets home.
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Be Just and Fear Not. |
05-25-2011, 10:32 AM | #40 | |
Operations Operative
Join Date: Feb 2011
Posts: 495
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My info is from my sis, who works at a pretty high level in the consumer/community affairs dept of one of the big three. |
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05-25-2011, 10:37 AM | #41 |
Person who doesn't update the user title
Join Date: Mar 2011
Posts: 13,002
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This'll be good.
It's like someone telling me how financial aid works and what the regs are because something happened one time to them or to their friend's dog and that is how it works because that is how it works. GO J! disclaimer: I ain't on any side...I have no clue about any of it. |
05-25-2011, 10:43 AM | #42 |
Makes some feel uncomfortable
Join Date: Dec 2005
Posts: 10,346
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I predict that the answer will be somewhere in the middle: they can do it, but don't always do it.
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"I'm certainly free, nay compelled, to spread the gospel of Spex. " - xoxoxoBruce |
05-25-2011, 10:44 AM | #43 |
Person who doesn't update the user title
Join Date: Mar 2011
Posts: 13,002
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sez Carnac the Magnificent.
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05-25-2011, 10:47 AM | #44 |
™
Join Date: Jul 2003
Location: Arlington, VA
Posts: 27,717
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Well, in my experience, I have cards I don't use, and I don't pay squat for them. So right there, the "FALSE" claim is wrong. I haven't been contacted by anyone that they are going to cancel my cards.
I don't carry a balance on the card I do use. I imagine the card companies don't like me much, but they do make a little bit off of each transaction through merchant fees. Certainly enough to cover postage on the bill. |
05-25-2011, 10:47 AM | #45 | |
Are you knock-kneed?
Join Date: Jul 2008
Location: Middle Hoosierland
Posts: 3,549
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We had a few dormant cards close in the last 2 years, but prior to that never. I assumed it had to do with the financial chaos. Other than that, for us...
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