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05-25-2011, 08:27 PM | #76 | |
Poker Playing Fool
Join Date: Feb 2011
Posts: 128
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05-25-2011, 08:31 PM | #77 |
~~Life is either a daring adventure or nothing.~~
Join Date: Apr 2006
Posts: 6,828
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05-25-2011, 08:35 PM | #78 |
Radical Centrist
Join Date: Jan 2001
Location: Cottage of Prussia
Posts: 31,423
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J: "Of course. Not just my bank, but all credit card companies cancel cards that are not used. It's called Inactive Termination."
(J manages customer communication at one of the major banks mentioned, including rate changes, balance transfers, and yes, inactive termination.) |
05-25-2011, 08:41 PM | #79 |
Radical Centrist
Join Date: Jan 2001
Location: Cottage of Prussia
Posts: 31,423
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J followon: "The risk departments actively try to cancel accounts that are not used, because some people forget they have the cards and then when they are stolen they are a bigger problem. We market to people trying to get them to use their cards. Use of a card without running a balance still means the card is active. They could probably use the card once a year and not be terminated."
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05-25-2011, 08:45 PM | #80 |
I hear them call the tide
Join Date: Dec 2005
Location: Perpetual Chaos
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J: Is period of non-use the only factor you consider when cancelling cards?
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The most difficult thing is the decision to act, the rest is merely tenacity Amelia Earhart |
05-25-2011, 08:50 PM | #81 |
Radical Centrist
Join Date: Jan 2001
Location: Cottage of Prussia
Posts: 31,423
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"There are many reasons to cancel... lack of payment obviously... I'm not in the risk department, but they have many reasons to cancel there, such as people who are using the card for fraud, or what they call 'gaming the system' in various ways."
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05-25-2011, 09:04 PM | #82 |
I hear them call the tide
Join Date: Dec 2005
Location: Perpetual Chaos
Posts: 30,852
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I guess i meant to say "when cancelling dormant cards"...?
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The most difficult thing is the decision to act, the rest is merely tenacity Amelia Earhart |
05-25-2011, 09:13 PM | #83 |
Radical Centrist
Join Date: Jan 2001
Location: Cottage of Prussia
Posts: 31,423
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Ah, she's gone upstairs and so this method of communication has become a hassle . I don't know if she knows that, because she handles the communication, the various letters and whatnot that get sent, not the decision on when to cancel.
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05-25-2011, 09:19 PM | #84 |
I hear them call the tide
Join Date: Dec 2005
Location: Perpetual Chaos
Posts: 30,852
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sry, don't bother. but we also have many dormant cards that have not been cancelled, was just wondering what made us super-awesome-special.
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The most difficult thing is the decision to act, the rest is merely tenacity Amelia Earhart |
05-26-2011, 09:08 PM | #85 |
Don't pop a vein
Join Date: Jun 2004
Location: in my own mind
Posts: 289
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could be any number of reasons - define "dormant" - last used more than 12 months ago? 0 balance?
Maybe your dormant cards have the same parent bank as some of your active cards. Maybe you have other valuable relationships with the bank(s) that own your dormant cards (mortgage or other loans, checking, savings etc) Maybe you have linked your CC with other bank accounts as part of overdraft protection (again multi-relationships make you more valuable) Also - don't underestimate any banks ability to see and evaluate your spending habits - even using other products. If you have strong credit and use it (even selectively) you are like raw meat to a starving wolverine. |
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