Credit Card Companies are a business just like you are. Most of you refuse to let them make any money on you. Just like the customer you hate to deal with that wants discount on top of discount.
Become an asset for them.
Do not respond emotionally to your interaction with the bank. If you have a big credit line on your card and all you ever do is play the Zero percent game then you are not an asset.
Credit cards are a tool. Bank of America used to have very high limits on their cards. Our Government has required them to change their standards.
All of the major banks are under major scrutiny from Obama’s Czars and every other Government Agency.
Someone said Our Government should do something about the banks? The Government has already done too much and changed the rules to bankrupt the banks in the first place.
A credit card is a tool.
View it as one of your assets that you need to protect, not a right that you have.
How the banks make money on credit cards
- Every time you use the card to buy gas or whatever they make a little.
- They also make a little on the interest you pay.
- They also make money from fees like overlimit, late fee, Zero percent activation, Yearly membership etc.
Any tool you have you have to pay for. Don’t be scared to death to pay a little interest on your credit card. You have to pay to play. I used to work really hard to not pay a penny in interest. Now I pay my cards off every other month. I want to pay some interest so they have an interest in keeping me as a customer.
Yes I know it would be nice to pay no interest at all but get the bigger view. Be a customer every credit card company would like to have.
Keys to being a Better Credit Card Customer
Use your card–If you do not use your card in twelve months they will cancel you.
Pay a little interest
Pay off your total regularly.
Be nice to deal with on the phone—Yes they track that in your file also. If you are mean and growl/cuss at them they will make notes in your file that the customer service rep can see.
I am a long time Credit Card User
At one time I had a dozen credit cards and I had over $150,000 in available credit on those cards. Several of the companies merged and i am down to about $60,000 in available credit.
How I protect my Credit
I use my cards for everything. I do not make a purchase that is not on my cards. I consider them a major asset in my life. I will protect them and work to keep them and I am willing to pay a few dollars a month in interest to keep them.
Setup auto-pay on all of your cards. This way you will only pay interest and never pay a late penalty.
It is like any business be a good customer get rewarded, be a cheap jerk customer with an attitude and get your available credit lowered.
Do not blame the banks for a lot of their recent actions. They are totally at the mercy of the regulators.
#1 Step to eliminating Credit Card Fees
Setup autopay on all of your cards. This way you will only pay interest and never pay a late penalty.
It is like any business be a good customer get rewarded, be a cheap jerk customer with an attitude and get your available credit lowered.
Do not blame the banks for a lot of their recent actions. They are totally at the mercy of the regulators. Bank of America has the Feds so far up their behind they will never see daylight.
Rick