Best way to deal with CREDIT CARD companies that supported *

[still_one]

Don't cancel them unless they charge a fee. Force them to maintain your account, even though you are not using it...

[Glenda]

1. I never keep a balance..

So I am one of the people that annoys them. They don't make money off me.

[still_one]

3. PERFECT!

[Hamlette]

11. Credit card companies don't make their money off interest on your account

they make money of purchases. If we all paid off our balances every month they would still be rich.

When you make a purchase on your credit card of say $100. The credit card company pays the merchant some lesser amount, so between $96.5 and $98. So, if you charge say $2000 on your credit card each month, the credit card company makes $200 even if you pay it off on time.

[Glenda]

13. I have one MBNA

Never use it, so they make no money off me on that one.

[kcwayne]

16. They do make money off you

because the merchants pay a fee to take your card for the transaction.

[BlueEyedSon]

2. Who would they be?

[still_one]

5. The biggest contributor I know is MBNA

If there are others, I hope they get listed here

[Ducks In A Row]

6. Who knows?

[pagerbear]

4. "Deadbeats"

That's what credit card companies call cardholders who don't incur finance charges. Seriously.

[still_one]

7. I am not just talking about paying the card off in full

I am talking about NOT using the card. They make money two ways, one from people who don't pay in full, and two from merchants

[Hamlette]

12. I don't know what credit card companies you are talking about

they don't give a crap whether you pay your balance or not. In fact, they would be more than happy if you paid it off each month, then they don't have to worry about collecting.

People. Don't you understand how the world works?

[jdj]

8. never cancel your credit cards anyway.

bite the bullet and keep a zero balance, it works in your favor, FICO score wise.

oh, and once you do get a zero balance, call the company and say you want to cancel the card. They will trip all over themselves to get you to keep your account open, and it's a good way to get your interest rate lowered, they will offer.

[BlueEyedSon]

9. Actually having too many open accounts, even with no balance

is a negative.

[Glenda]

14. Right, but also don't cancel all your credit cards at once

That also drops your FICO

[West Coast Democrat]

10. I have a cashback credit card that I never pay a fee or interest on....

it's the evil Citibank card, and they give me hundreds in cash back every year.

[annabanana]

15. What about Working Assets?

I have their card, but the invoice says MNBA....

[ET Awful]

17. Note: Providian Financial is a big time DEMOCRATIC contributor

to the tune of $700,000 or so this election cycle.

Someone posted a link yesterday to show what business donated to whom, and Providian was in the top 100 Dem. contributors.