Congrats on the card cancellations. There are few things as satisfying. We've made a lot of debt headway in the last few years, and it is such a relief!
Unfortunately I learned the hard way that the Juniper/Apple punk is right. Cancelling cards regardless of outstanding balance actually dings your credit (this I learned after I cancelled five myself, following what I believed to be the general wisdom of cancelling anything you're not using). It is absolutely ridiculous - you can't apply for credit without it hurting you and you can't cancel it without it hurting you (they look at the amount of credit you have vs. the amount you use, so by cancelling some part of what is available to you it lowers that), but you have to use it or you have none.
I still felt good about cancelling the cards, but I was pretty furious about the fucked up logic of credit rating agencies. I was told by a friend who ran some scenarios for me that I would have to spend the next year not touching my credit (except for transactions) in order to raise it a point a month back to where it was.
I wonder how often that Juniper/Apple guy's shtick works.
It's an interesting catch-22 then, because the credit service told me that one reason for my lower "score" was that I had too much ghetto credit, i.e., low-limit high-interest stuff. I do still have a couple of less grotty accounts, plus a paid-off car loan etc.
Oh well. I'd rather be rid of those things that win the Credit Contest!
Agreed, it only mattered to me because we will probably try to buy a dwelling of some sort within the next couple of years and I didn't want to pay extra in interest because this arbitrary "score" was off by 5 points or something stupid like that.
Who the hell knows what they are thinking. It's such a racket.
I have, quite literally, been saying that for over a decade. My credit is okay these days, and I still have nothing but contempt for the cheating fuckfaces who run the industry.
Juniper Bank, who provides the credit card that is now Apple Credit.
I clicked on the "APPLE CREDIT!!!" button and applied in 2005 thinking it was actually an Apple credit line, and they gave me a shitty credit card with a $750 limit and 22% interest. Yeah, that'll buy me a computer.
oh duh, I should've guessed that - we get lots of email (I work in eSupport a t Juniper Networks) from clueless users who can't find the credit card application on our website. :)
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I still felt good about cancelling the cards, but I was pretty furious about the fucked up logic of credit rating agencies. I was told by a friend who ran some scenarios for me that I would have to spend the next year not touching my credit (except for transactions) in order to raise it a point a month back to where it was.
I wonder how often that Juniper/Apple guy's shtick works.
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Oh well. I'd rather be rid of those things that win the Credit Contest!
Reply
Who the hell knows what they are thinking. It's such a racket.
Reply
I have, quite literally, been saying that for over a decade. My credit is okay these days, and I still have nothing but contempt for the cheating fuckfaces who run the industry.
Reply
Reply
I clicked on the "APPLE CREDIT!!!" button and applied in 2005 thinking it was actually an Apple credit line, and they gave me a shitty credit card with a $750 limit and 22% interest. Yeah, that'll buy me a computer.
Finally got around to cancelling it.
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