(Closed) Credit Cards, Credit Cards, Everywhere!

posted 3 years ago in Money
Post # 3
Hostess
9919 posts
Buzzing Beekeeper
  • Wedding: May 2014

@MissesAwesome:  receiving the application won’t hurt your credit – APPLYING will (although not a ton) missing payments, applying too much in a short period of time, and owing more than 80% of the credit limit are the 3 biggest things that impact your score – at least in Canada.

For me, anytime something’s expiring I get applications like crazy – like when my loans were paid off – the bank sent me applications about every 3 weeks.  Our car has a year left, the bank calls FH monthly with pre-approved credit offers.

Post # 6
Member
10494 posts
Sugar Beekeeper
  • Wedding: January 2011

I used to get many, but not lately.  It didn’t seem to be related to my marital status either.  They did tend to come when I was also getting the CC cheques though, and the government put in regulations about those, so that could be the difference.

I was getting multiple phone calls from a bank I use about CC offers and I asked not to be contacted about them anymore, it seemed to work.

Post # 7
Member
3756 posts
Honey bee
  • Wedding: April 2014

I just opted out! Thanks for the link! I can’t stand all the credit offers. What a bunch of wasted paper!

Post # 8
Member
10494 posts
Sugar Beekeeper
  • Wedding: January 2011

@jny1179:  Not to mention plastic, do they send you a card out there too when they do it?

Post # 9
Hostess
3787 posts
Honey bee
  • Wedding: June 2011

I’ve been married a while now, so I can’t speak to that.

But I can say that I HATE HATE HATE being asked to apply for store credit cards. 

“No, I don’t care if I save 15% unless I’m literally saving hundreds of dollars.” I don’t care that I could pay it in store. I DONT CARE. haha! 

Did you know that Kohl’s actually makes more money on their credit cards than they do on their merchandise. (Or a bigger proportion of their income, I forget which). Why? Because they get people to open their card for a discount and then make HUGE moola in interest when someone can’t pay it off or forgets. 

I was interviewing for a retail job recently and was specifically told, “Don’t judge people on what they look like they can afford or even what they tell you they want to spend. They might get approved for the card.” I almost vomed a little in my mouth. When I asked what the interest rate was, they said, “Hmm, no one has ever asked that before.” Are you kidding me!?!?!

So she looks, and says, “It’s no interest if you pay if off before the bill! Awesome.” (Uh, that’s how credit cards work) “Then it’s 25%.”

Yeah…

Post # 12
Member
5697 posts
Bee Keeper
  • Wedding: August 2012

Receiving a credit offer doesn’t do anything to your score, applying does as it’s a hard hit against your credit. It’s annoying but that’s as bad as it is.

Post # 14
Member
3756 posts
Honey bee
  • Wedding: April 2014

@AB Bride:  Oh yeah, I get like 6 sheets of paper, printed in color ink, with a fake plastic card stuck to it, such a huge waste. I can’t stand it. I want to stop all of the junk mail, the sale folders, the credit card offers, I hate snail mail unless it’s something I care about like invitations, cards, etc.

Post # 15
Member
409 posts
Helper bee
  • Wedding: October 2012

So that link only applies to Pre-screened offers, which are pulled based on credit bureau. Non pre-screen offers are more abundant thatn Pre-screened ones. For each mail piece your receive, there should be a telephone number or website where you can add your information to the opt-out list. This is the best way to get yourself removed permanently. 

Post # 16
Member
11668 posts
Sugar Beekeeper
  • Wedding: November 1999

@MissesAwesome:  Ugh, I hate these and have definitely noticed an influx over the past year or so.  They create so much extra junk and shit to shred!

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