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Credit Card Doings...

August 19th, 2008 at 07:11 am

My old credit card company (I keep the card for backup) called to ask me about suspicious activity. A $150 foreign purchase in early July.

I said it was most definitely fraudulent, and they sent me new cards. They told me it was all taken care of.

So I get a bill in the mail last week. UGH! I just hate dealing with this stuff.

So I luckily kept the fraud department direct line and called them back.

"We couldn't discharge the debt because it hadn't been cleared yet."

Something along those lines.

Whatevah!

Then maybe you should have told me as much instead of telling me I didn't need to do anything further and that it was all taken care of.

So I get this form in the mail yesterday. I have to return it today to clear it up.

Seriously?

I am this close to shutting down the card. I am sure I could fight my way through it, even if I didn't receive it until tomorrow or something, but they just piss me off. It has to be so freaking complicated.

I will fax it when I get to work and mail a copy to be sure. Take that!

-------------------------------------

I checked my credit score and a good month after paying off another card, my score is only up 8 points. Borrowing oodles of money and having a terrible ratio for like a year has apparently done little to my score. I show score of 770 with one Bureau and 795 with another one.

As such, with the way things have been going, would I do another 0% balance transfer?

YOU BET!

It was easy easy easy money. I was a little wary at the time, but a good 18 months or so later, I would say it has really paid off.

So why haven't I run out and applied???

Because I was earning mostly 4% - 6% interest on all my balance transfers. I can't say where I will find that.

It could be tempting to take out a Countrywide CD or something like that, but I don't want to mess with FDIC and all that on something I don't have cash in the bank to cover otherwise.

I think I will sit on the sidelines and close all of these cards now that we are done.

I will keep the WAMU one because they keep sending me new cards and I still get free FICO scores (it is well over a year). I just assume my "year" resets with each new card. I haven't activated any of them, but I can get my FICO score monthly. IT's kind of nice.

But will close the other ones and I may jump back in the game if I can find favorable interest rates.

If interest rates improve I may apply for a new card in the interim. Citi had a lot of good deals, I don't know if they still exist. But I paid no fees and 0% interest for the transfers. I think I paid a $75 fee for WAMU. Was still worth it.

1 Responses to “Credit Card Doings...”

  1. Cindy Says:

    Hello,
    I just recently found this site and have been reading everyone's blogs - so addicting! (You can see my blog by clicking on my name.) Anyway I am curious in this post if you mean you are going to close your credit cards? I believe doing so will lower your credit score. - Cindy

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