tazinib1 Posted January 21, 2011 Share Posted January 21, 2011 I havn't had a credit card in over 10 years. Why? Well I'm fiscally irresponsible for one...yeah... that will do for now. Quote Link to comment Share on other sites More sharing options...
montster Posted January 21, 2011 Share Posted January 21, 2011 CC companies are total AHoles and I am an Ahole for racking up the big numbers I have in the past. Me and the Mrs. Ran up some ludicrous CC debt. We had to stop the bleeding because the min payments were strangling me and I have a fair amount of $ on over 3 cards. We make the decision to swear off these bastards for good. WEe have been living cash only for about 2 months now and it feels awesome. So we moved some money around in order to pay these bastards off. I called every one of them and got my final balances for a payoff. We send the final balance that each of these Aholes told us that we owed. I gave them instructions to close each card after the payoff. So these F'ers get my checks in time but they hold it just long enough for interest to kick in before applying it to my payment. So far example, I called and they said my balance was 1000 for a payoff. I send them 1000. they hold the check. The next month I expect all zero balances on closed cards and they all hit me with the same bulldiaper dirt when we called. The 1000 payoff turned into 1150 because they held these checks. Spread that over a bunch of cards and I get stuck for an extra 1200 that I had to pay off I racked up the debt and I did right by it. Didnt walk away and made it go away and they give me the kick in the nuts send off. My heart dont break for them at all when people F them out of what they owe. AHoles Do you pay your bills online? I pay my credit card bill online every month. You can choose when the payment goes through, and it gets deducted electronically, so you don't have to mess around with the stuff that happened to you. Still, a few months ago I finally paid off a credit card I've had a balance on for years, and I figured I was at zero. I signed on to check my balance and there was a balance of about $3. I saw it right before the payment was due, otherwise I may have missed it and gotten dinged on my credit score. Also, is it too late to call them and tell them not to cancel the cards? Keeping the accounts open is good for your credit score, especially if you've had the cards a long time. Quote Link to comment Share on other sites More sharing options...
bpwallace49 Posted January 21, 2011 Share Posted January 21, 2011 I havn't had a credit card in over 10 years. Why? Well I'm fiscally irresponsible for one... Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted January 21, 2011 Share Posted January 21, 2011 CC companies are total AHoles and I am an Ahole for racking up the big numbers I have in the past. Me and the Mrs. Ran up some ludicrous CC debt. We had to stop the bleeding because the min payments were strangling me and I have a fair amount of $ on over 3 cards. We make the decision to swear off these bastards for good. WEe have been living cash only for about 2 months now and it feels awesome. So we moved some money around in order to pay these bastards off. I called every one of them and got my final balances for a payoff. We send the final balance that each of these Aholes told us that we owed. I gave them instructions to close each card after the payoff. So these F'ers get my checks in time but they hold it just long enough for interest to kick in before applying it to my payment. So far example, I called and they said my balance was 1000 for a payoff. I send them 1000. they hold the check. The next month I expect all zero balances on closed cards and they all hit me with the same bulldiaper dirt when we called. The 1000 payoff turned into 1150 because they held these checks. Spread that over a bunch of cards and I get stuck for an extra 1200 that I had to pay off I racked up the debt and I did right by it. Didnt walk away and made it go away and they give me the kick in the nuts send off. My heart dont break for them at all when people F them out of what they owe. AHoles Holding checks is completely illegal but common also. I had an airmiles CC through Northwest once and they did it to me two months running despite the check being sent 10 days in advance. They claimed they got it late, I told 'em to shove the CC where the sun don't shine. They turned me over to custome retention and offered me the moon but I still closed it. Been on Cap One for years now, do everything online (Montster's post is very accurate) and have never had a moment's problem. Quote Link to comment Share on other sites More sharing options...
whomper Posted January 21, 2011 Share Posted January 21, 2011 Do you pay your bills online? I pay my credit card bill online every month. You can choose when the payment goes through, and it gets deducted electronically, so you don't have to mess around with the stuff that happened to you. Still, a few months ago I finally paid off a credit card I've had a balance on for years, and I figured I was at zero. I signed on to check my balance and there was a balance of about $3. I saw it right before the payment was due, otherwise I may have missed it and gotten dinged on my credit score. Also, is it too late to call them and tell them not to cancel the cards? Keeping the accounts open is good for your credit score, especially if you've had the cards a long time. Never thought of that and no we dont. That is a great suggestion. Thanks Quote Link to comment Share on other sites More sharing options...
tazinib1 Posted January 21, 2011 Share Posted January 21, 2011 It was a tongue and cheek jab...was hoping somebody would catch it Quote Link to comment Share on other sites More sharing options...
bpwallace49 Posted January 21, 2011 Share Posted January 21, 2011 Never thought of that and no we dont. That is a great suggestion. Thanks Once you go online, it is damn near impossible to go back. I get all my bills electronically delivered and I pay them online. Quote Link to comment Share on other sites More sharing options...
Square Posted January 21, 2011 Share Posted January 21, 2011 I disagree that credit cards are for suckers. It is actually stupid to pay cash (in most cases) because when you pay cash you have no proof of a purchase (especially if you do not receive or lose a receipt) and you do not get any additional value. Most credit cards offer rewards on every purchase and if used responsibly, you should take advantage of it. For example, my discover card is offering me 5% back on all my gas purchased made for 3 months, so I am using my discover card on that. My Chase offered 5% back on any groceries so I used that. Now if you guy crap you cant afford, you have other issues more important than using a credit card... While statistically speaking getting the 1% (or whatever) does "make" you more money, typically humans spend more when they use plastic. It's no different than using chips at a casino instead of dollar bills at the blackjack table. There have been studies done that show humans experience more "pain" when spending physical dollars compared to swiping plastic. I also don't really think that people who end up wealthy really count on credit card airline miles to make the difference. If you make budgets, try to stick to them, and aggressively save $$ you'll end up with money. You can cut coupons and save more than 1% on your groceries or shop around and save 5% on your gas (gasbuddy.com). I consider credit cards companies to be pretty evil and the juice isn't really worth the squeeze as far as airline miles/points. Quote Link to comment Share on other sites More sharing options...
whomper Posted January 21, 2011 Share Posted January 21, 2011 Once you go online, it is damn near impossible to go back. I get all my bills electronically delivered and I pay them online. I would do it in a heartbeat. Problem is my wife does the books and she is very untrusting of moving funds around online. We are check writers. Actually she is. I can honestly say I dont think I have written more than 10 checks in the past 12 years. She is very responsible and incredibly detailed so I have no problem with her handling the books, it just hurts when we could be doing it easier online Quote Link to comment Share on other sites More sharing options...
redrumjuice Posted January 21, 2011 Share Posted January 21, 2011 I would do it in a heartbeat. Problem is my wife does the books and she is very untrusting of moving funds around online. We are check writers. Actually she is. I can honestly say I dont think I have written more than 10 checks in the past 12 years. She is very responsible and incredibly detailed so I have no problem with her handling the books, it just hurts when we could be doing it easier online Yes you just lost $1200 for the practice? Is that reason enough? I paid off a card my life partner had several years ago, and told them to close it. About 9 months later, I get a collection letter for $300. I call the cc company, not the collector cause I had received ZERO statements since I closed the card. They say although it was 'closed', but anything that gets charged to it hits for 30 days, and an auto charge from netflix hit for $14.95. With penalties and interest, it was $300 9 months later. I said no way, it was closed, zero balance, and on top of that I never received a new statement. They didn't care, this is CAPITAL ONE btw. 4 years later, the balance is up to about $1000, it's on life partner's credit, so I don't give a crap, I will never send one red cent to those cheating bassturds, but I get letters all the time offering to let us pay it. Quote Link to comment Share on other sites More sharing options...
montster Posted January 21, 2011 Share Posted January 21, 2011 Yes you just lost $1200 for the practice? Is that reason enough? I paid off a card my life partner had several years ago, and told them to close it. About 9 months later, I get a collection letter for $300. I call the cc company, not the collector cause I had received ZERO statements since I closed the card. They say although it was 'closed', but anything that gets charged to it hits for 30 days, and an auto charge from netflix hit for $14.95. With penalties and interest, it was $300 9 months later. I said no way, it was closed, zero balance, and on top of that I never received a new statement. They didn't care, this is CAPITAL ONE btw. 4 years later, the balance is up to about $1000, it's on life partner's credit, so I don't give a crap, I will never send one red cent to those cheating bassturds, but I get letters all the time offering to let us pay it. Capital One is the worst. If you ever do decide to pay it, you might be able to negotiate a much smaller payment. Sometimes it works. But whatever you do, make sure that you tell them that you'll pay it only if they agree to remove the item from your wife's credit report, and get it in writing. Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted January 21, 2011 Share Posted January 21, 2011 Been on Cap One for years now, do everything online (Montster's post is very accurate) and have never had a moment's problem. They didn't care, this is CAPITAL ONE btw.cheating bassturds, Capital One is the worst. Quote Link to comment Share on other sites More sharing options...
redrumjuice Posted January 21, 2011 Share Posted January 21, 2011 How do you think they can afford the millions on commercials that blanket everything coast to coast? Quote Link to comment Share on other sites More sharing options...
tazinib1 Posted January 21, 2011 Share Posted January 21, 2011 How do you think they can afford the millions on commercials that blanket everything coast to coast? I'd really love to see an ANTI Capital One commercial. Whats in your wallet? Why we are!! Quote Link to comment Share on other sites More sharing options...
buddahj Posted January 21, 2011 Author Share Posted January 21, 2011 Once you go online, it is damn near impossible to go back. I get all my bills electronically delivered and I pay them online. +1 The only way to go. Quote Link to comment Share on other sites More sharing options...
montster Posted January 21, 2011 Share Posted January 21, 2011 A few years ago when we started house-hunting, I did a ton of research on how to improve credit scores. On the message boards I was on, Capital One was most often cited as the credit card people had the most problems with whenever they tried to resolve disputes. I've never had a Cap One credit card. But judging by the people in this thread, 50 percent of Cap One owners have had problems dealing with them. Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted January 22, 2011 Share Posted January 22, 2011 (edited) A few years ago when we started house-hunting, I did a ton of research on how to improve credit scores. On the message boards I was on, Capital One was most often cited as the credit card people had the most problems with whenever they tried to resolve disputes. I've never had a Cap One credit card. But judging by the people in this thread, 50 percent of Cap One owners have had problems dealing with them. I think they think I'm an ideal customer. Pay it off without fail and use it for everything. The only customer they like better is the one with a colossal balance but making minimum payments. Edited January 22, 2011 by Ursa Majoris Quote Link to comment Share on other sites More sharing options...
whomper Posted January 22, 2011 Share Posted January 22, 2011 The only customer they like better is the one with a colossal balance but making minimum payments. Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted January 22, 2011 Share Posted January 22, 2011 Hey, at least someone loves you. Quote Link to comment Share on other sites More sharing options...
Avernus Posted January 22, 2011 Share Posted January 22, 2011 How do you think they can afford the millions on commercials that blanket everything coast to coast? they used to send me an application at least once a week until I called them up to have my name removed and then 4 months later, I'm getting mail again.... I called them up...again to have my name removed and it's been about 7 months and not one credit app (knocks on wood)....I hate those bastards... Quote Link to comment Share on other sites More sharing options...
Big Country Posted January 22, 2011 Share Posted January 22, 2011 Have an American Express, Discover and Cap One Visa. None of them like me as I pay off in full every month and don't pay any annual fees, so basically I am a user of their free service. Got to say AmEx has been a pleasure to deal with, very good customer service. Discover has been good with potential fraud alerts which came up when I'd travel and charge a bunch but not tell them. Always able to get it cleared up quick. Cap One is more my emergency card soI only use it sparingly, maybe once a month or every two months just to keep it active or in a place that doesn't take the other two. Quote Link to comment Share on other sites More sharing options...
bpwallace49 Posted January 22, 2011 Share Posted January 22, 2011 I have bank of America and AMex . . plus a work bank card. have a small balance left on bank of AMerica card that will be gone in 2 months. Amex is paid every month. Never understood the capital one craze. I get crap from them all the time, and throw it out. Quote Link to comment Share on other sites More sharing options...
SayItAintSoJoe Posted January 22, 2011 Share Posted January 22, 2011 they used to send me an application at least once a week until I called them up to have my name removed and then 4 months later, I'm getting mail again.... I called them up...again to have my name removed and it's been about 7 months and not one credit app (knocks on wood)....I hate those bastards... I "opted out" a few years ago and it really helped cut down on the credit offers. Opt Out Quote Link to comment Share on other sites More sharing options...
TimC Posted January 22, 2011 Share Posted January 22, 2011 (edited) I worked for the bank that spawned off Capital One. They were the first (if not the first, then the best by far) to target market you for their product. They didn't want people like Ursa and probably to this day wish he would just go away. They wanted the borderline people that would miss a payment, pay minimum payments, etc, etc. It was basically stuff unheard of in the early 90s...and everyone with half a brain and an ounce of common sense scratched their heads wondering why you would take the risk. They loved risk as a way to make more money. Hell, they came up with catchy slogans for it. Here's the simplistic version on how Capital One started....it was the credit card division for the Bank of Virginia. The Bank of Virginia was the first bank to issue credit cards, but despite being one of the largest and most respectable banks in Virginia had no national presence and the bank portion was still the largest piece of the company. The bank had a great reputation of treating people fair and square. The long-time CEO died fairly suddenly and he was replaced with the new breed of CEO that only looked at profits. Things went quickly downhill. This new CEO brought in 2 consultants to give us ideas on how to make the credit card division more profitable after the S&L crisis. These 2 consultants decided we should spin off our credit card division and let them head it up. Our credit card division basically grew by leaps and bounds making money left and right. Of course, ruining people's lives to make a buck was the easiest option. People that would never have been given a credit card before were suddenly the target. It was real pond scum stuff. We spun them off into a separate company so they could push the boundaries that a bank couldn't (creating Capital One) and it seemed like within a year they were hosting bowl games, Super Bowl commercials, setting up shop in every college and sending a new credit card offer to everyone on the planet every other day. I would chuckle when I saw a national advertisement for what was our small credit card division a few years earlier. They basically sold their soul for a buck. They are the definition of the evil company that will do anything to steal a buck. Now, you can say that people shouldn't charge more than they can afford, but what made Capital One so successful from the beginning (and what they were most proud of back then) was marketing. They had stats on everything imaginable. They had databases for their databases. It was unbelievable. All to target those people that would make them the most money....and that wasn't the Ursas of the world. Companies like Capital One are the reasons we have economic meltdowns with their business practices. And then they receive bailouts for these evil business practices less than 20 years later. At a quick glance, Capital One received $3,555,199,000 in bailout funds. Ridiculous. The bank was gobbled up by First Union/Wachovia/whatever it is now and moved to North Carolina to create an even larger bank that received billions more in bailout funds. And yet people still think having a dozen or more super banks is a good thing instead of letting them die of their own crappy and evil business practices that make no sense at all except to make a buck no matter what. Edited January 22, 2011 by TimC Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted January 22, 2011 Share Posted January 22, 2011 I worked for the bank that spawned off Capital One. They were the first (if not the first, then the best by far) to target market you for their product. They didn't want people like Ursa and probably to this day wish he would just go away. They wanted the borderline people that would miss a payment, pay minimum payments, etc, etc. It was basically stuff unheard of in the early 90s...and everyone with half a brain and an ounce of common sense scratched their heads wondering why you would take the risk. They loved risk as a way to make more money. Hell, they came up with catchy slogans for it. Here's the simplistic version on how Capital One started....it was the credit card division for the Bank of Virginia. The Bank of Virginia was the first bank to issue credit cards, but despite being one of the largest and most respectable banks in Virginia had no national presence and the bank portion was still the largest piece of the company. The bank had a great reputation of treating people fair and square. The long-time CEO died fairly suddenly and he was replaced with the new breed of CEO that only looked at profits. Things went quickly downhill. This new CEO brought in 2 consultants to give us ideas on how to make the credit card division more profitable after the S&L crisis. These 2 consultants decided we should spin off our credit card division and let them head it up. Our credit card division basically grew by leaps and bounds making money left and right. Of course, ruining people's lives to make a buck was the easiest option. People that would never have been given a credit card before were suddenly the target. It was real pond scum stuff. We spun them off into a separate company so they could push the boundaries that a bank couldn't (creating Capital One) and it seemed like within a year they were hosting bowl games, Super Bowl commercials, setting up shop in every college and sending a new credit card offer to everyone on the planet every other day. I would chuckle when I saw a national advertisement for what was our small credit card division a few years earlier. They basically sold their soul for a buck. They are the definition of the evil company that will do anything to steal a buck. Now, you can say that people shouldn't charge more than they can afford, but what made Capital One so successful from the beginning (and what they were most proud of back then) was marketing. They had stats on everything imaginable. They had databases for their databases. It was unbelievable. All to target those people that would make them the most money....and that wasn't the Ursas of the world. Companies like Capital One are the reasons we have economic meltdowns with their business practices. And then they receive bailouts for these evil business practices less than 20 years later. At a quick glance, Capital One received $3,555,199,000 in bailout funds. Ridiculous. The bank was gobbled up by First Union/Wachovia/whatever it is now and moved to North Carolina to create an even larger bank that received billions more in bailout funds. And yet people still think having a dozen or more super banks is a good thing instead of letting them die of their own crappy and evil business practices that make no sense at all except to make a buck no matter what. Great post. Banks and financial companies in general suck donkey balls and are THE major reason we are in the state we are in. They need to be regulated more, not less. And, FWIW, the only reason I'm with Capital One is that when I was researching CCs a few years back, their cashback offering was the best option by far. I did take note at the time of your previous posts about Capital One but I knew that if anything wasn't right, I would just tell them to shove it and open a CC elsewhere since I don't care a flying f**k about my credit score. Quote Link to comment Share on other sites More sharing options...
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