Credit Card Companies Rock

» 11 February 2006 » In Everything »

Credit Card Offers

I noticed I was getting quite a few credit card offers but I didn’t realize how ridiculous it was until I saved them for a while. I didn’t count the whole pile, but I grabbed about one-forth of it and there were about 40 offers. That totals to roughly 160 in 4 months. It’s a bit annoying. However, because of these offers I’ve been able to carry some credit card debt for about 5 years without any finance charges or transfer fees. So thanks for that. It’s very simple, with this many offers, you just wait for the ones that say 0% APR for one year and no balance transfer fees. Then, you just transfer to those cards and cancel your old ones.

My favorite offers are the ones that say 5.7% fixed or something like that. Hello, why would I choose 5.7% fixed if I can get 0% for 12 months and then just transfer to the next 0% that comes along, which I do. So thanks for all the offers credit card companies. As long I as I’m in debt, I welcome them.

Shortly after I posted this, Corey and I got all of his junk mail out and had a gay old time.

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  1. Jason Gaylor
    12/02/2006 at 1:36 pm Permalink

    i enjoy this. and i like how i can see a big zero on one of the envelopes.

  2. Jason Gaylor
    CC Rider
    13/02/2006 at 11:33 am Permalink

    Man I’ve been doing the same thing. I have a cabinet full. I’ll post mine later this week. We should start a running contest monthly to see who gets the most. The winner gets, well 0% Apr till December 2006.

  3. Jason Gaylor
    03/03/2006 at 2:47 pm Permalink

    I wonder what the consequences are for your credit rating, though. I should probably know that already but if you were contemplating buying a house and didn’t have piles of money sitting around then moving your debt constantly might put you in a bad spot. But, you know, it’s all a conspiracy anyway.

  4. Jason Gaylor
    06/03/2006 at 2:30 am Permalink

    What I used to do with those is stuff the paid-for reply envelopes with other junk mail (coupons, postcards from grocery stores, gum wrappers) until they were bulging and sending them back. They get to pay the overweight fees. ^_^

  5. Jason Gaylor
    09/03/2006 at 3:55 pm Permalink

    I used to work for one of the major cards and we did ALL of those horrible, horrible letters. Yes, transferring and transferring balances isn’t the wisest thing to do for your rating.

    CC companies suck. It’s all about money. If you really read all of the disclaimers (including the rewards) you’d see how much b.s. the business really is. One of them said that at any time, they can take away all of your rewards if they feel like it.

    Also, did you know that if you default on ANY payment (say a loan, a store card, even a utility bill) the cc companies have a right to review your payment history and jack up your rates? Even if you didn’t default payment on that particular card. We also did forced plastics–”maxed out one card and not going to use it again? Here! Have another card (so you can get into further debt).

    Pay them off as fast as you can, cut all but a good interest card, and pay everything off with cash. It’s an unfair business that is designed to screw you as much as they can.

    Good luck.

  6. Jason Gaylor
    Jason Gaylor
    09/03/2006 at 4:15 pm Permalink

    I appreciate your concern and I don’t doubt that everything you mentioned is completely valid. However, I do read the fine print sometimes and I’ve noticed that they can basically decide if they want to change any part of their agreement at anytime. With that said, I don’t see that happening because it’s just bad business on their part.

    It hasn’t happened to me yet, and I’m quite comfortable with taking that risk given the fact that I have never missed a payment. Plus it beats paying interest. On a few occations I have paid small balance transfer fees, but compared to the length at which I’ve been able to carry this debt, the charges are quite nominal.

    I would like to pay them all off, and am currently working towards that diligently. Unfortunately music and design are expensive hobbies/careers with all the equipment software that must be purchased/charged. In addition most of the things I buy depreciate in value. So to the CC companies I once again give my thanks.

    Thanks for the post.

  7. Jason Gaylor
    Andrew Phelps
    11/03/2006 at 2:44 am Permalink

    I’m new to the blog (came for your Photoshop brushes!) and this post caught my eye. I got yet another credit-card offer, this one from American Express, with a phone number you can call to opt-out of pre-screened offers: 888-5OPT-OUt.

    Hopefully the spam filters don’t erase this comment — the keywords in this are a goldmine. :)

  8. Jason Gaylor
    23/03/2006 at 12:26 am Permalink

    I must admit, I’ve had a rough time with my credit. Life isn’t easy when you’re drowning in debt. Big kisses to all the shopaholics! Kelly

  9. Jason Gaylor
    11/04/2006 at 6:46 pm Permalink

    You must know that this idea of transferring debt from card to card is a bad idea. Your credit rating is something you should take seriously, and these sorts of tricks are very strong evidence to banks that you can’t be relied on to pay back loans. You really ought to work on just paying the debt off.