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wanted_to_upvote t1_j48eldf wrote

Reply to comment by [deleted] in USA Credit Cards: Card Balances v. Interest Rate [OC] by rosetechnology

They are still making a large amount of money from you in credit fees paid by the retailer and your yearly fee with almost no risk .

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urgjotonlkec t1_j493wfp wrote

BINGO. Banks love when they can make money off you with no risk.

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gt_ap t1_j49dp7o wrote

I sign up for a new card, earn the SUB, and quit using it. I move on to the next new card.

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wanted_to_upvote t1_j49j18f wrote

That likely affects your credit rating and rates you will get offered in the future. Even if you stop using the card it is still an active account and will be a part of your credit.

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gt_ap t1_j49o7gu wrote

> That likely affects your credit rating and rates you will get offered in the future. Even if you stop using the card it is still an active account and will be a part of your credit.

It's not clear if you mean it will affect my credit rating in a positive or negative way, but I'm doing alright in that regard. My FICO hangs around 800. My average age of accounts is 5y 11m. My oldest account is 25y 10m. I have zero issues opening new credit cards, except I have to watch the velocity with Chase because of their 5/24 rule.

I've been opening new cards regularly for at least a decade, but much more often in the last several years.

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ledow t1_j49ndoq wrote

Also, that one day that you desperately need an emergency $10,000 and you can't get it out of savings quickly, or when you lose your job and your savings are depleted but you need to eat... you'll stick it on that credit card that you have with a huge credit limit.

The banks don't care about people like this guy. They don't hate him, he costs them absolutely nothing whatsoever. All he's doing is promoting continued use of credit cards, paying them money (whether he realises it or not) for a sliver of plastic and tiny, tiny, tiny portion of their computing power, and putting himself in a position where he could accidentally or deliberately turn into a "normal" customer for them at any moment.

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