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The Water Cooler
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Credit card limit cut in half.
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<blockquote data-quote="Rez Exelon" data-source="post: 3374092" data-attributes="member: 5800"><p>Maybe they are and aren't posting, but don't hate if there's folks that use credit smart. I was cash only for 8 years of my life before I decided I had the income and discipline to rock my credit card system. I make lots and lots of return on it but the fundamental core is the following.</p><p></p><p>1. Never carry a balance.</p><p>2. Never miss a payment. </p><p>3. Never buy anything I wouldn't otherwise buy (see point 1.)</p><p></p><p>That in place I take in serious return. Consumers like me are both the credit card companies dream and nightmare because while they make money on transactions they don't make money on interest or fees. </p><p></p><p>Anecdotally there are enough of us that its getting harder to take in the same return because the card companies are reducing benefits and bonuses, even before covid. Which has driven down the companies ROI although it's still a profit center for them.</p></blockquote><p></p>
[QUOTE="Rez Exelon, post: 3374092, member: 5800"] Maybe they are and aren't posting, but don't hate if there's folks that use credit smart. I was cash only for 8 years of my life before I decided I had the income and discipline to rock my credit card system. I make lots and lots of return on it but the fundamental core is the following. 1. Never carry a balance. 2. Never miss a payment. 3. Never buy anything I wouldn't otherwise buy (see point 1.) That in place I take in serious return. Consumers like me are both the credit card companies dream and nightmare because while they make money on transactions they don't make money on interest or fees. Anecdotally there are enough of us that its getting harder to take in the same return because the card companies are reducing benefits and bonuses, even before covid. Which has driven down the companies ROI although it's still a profit center for them. [/QUOTE]
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Credit card limit cut in half.
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