You can't make this stuff up!

[ctfjr]

So my son has been bugging me to get the 'new' 2% cash back credit card that's been advertised. I have a 1-1/2% cash back card now. I finally break down when he emails me the link to an application.

Ok it takes all of a couple of minutes & I'm approved. Now there is an issue. Its my understanding that your credit score is affected by the amount of AVAILABLE credit you have. I really don't want to cancel my original card (Capitol One) because I also understand that that can negatively affect your credit rating. So, what to do?

Simple, I'll just call Capitol One & ask them to LOWER my credit limit on that card. Imagine my surprise when the service rep tells me I've been DECLINED in LOWERING my credit limit. I'll get a letter in the mail in 7-10 days explaining why I've been declined.

You can't make this stuff up!

 

[SacramentoMike]

Next they'll show up at your front door and force bags of cash on you. Geeez, those guys.

 

[lnewlf]

I don't ph**ck around with banks or ins. companies...It's cancel it now and I'm off down the street...

 

[Pterodactyl]

I got a notice that my bike insurance is going up. The reason is I have too many accounts with no activity in the past year. Some of the accounts they refer to have been closed for years. I have a credit rating over 800 and an auto insurance rating of 914 out of 950 and this company rates me as a "F" level risk.

 

[bigjohnsd]

Dinosaur, who are you, or were you with for the bikes?

 

[Pterodactyl]

Markel. I'm still with them but looking. I'm paying $1200 a year for 5 bikes, all with comprehensive, collision, liability and uninsured motorist coverage. Without the "F" rating it would be under $1000. By the way, uninsured motorists should be executed at the scene of any accident they are involved in.

 

[bigjohnsd]

Won't USAA cover you?

 

[Pterodactyl]

USAA does not directly insure bikes. I was told that they now have a deal with Foremost to insure bikes at decent rates. I shall inquire.

 

[bigjohnsd]

I have everything with American Family, House, Umbrella, cars, bike.

Bike costs right at $200 as discounted, who knows.

 

[SkooterG]

USAA has been in partnership with Progressive for more than 10 years now for motorcycle insurance. I have been a happy USAA/Progressive customer for over 10 years now.

And as for the OP. Total credit limit doesn't hurt you as much as 'Credit Utilization' as I understand it.. In other words how much of your total credit limit on all your cards are you using. Lowering your credit limit could actually hurt you.

This from a non-finance guy. So take it for what it's worth.

 

[bergmen]

This crap is one of the main reasons I haven't had a credit card of any type for over 15 years. I have never missed them.

Dan

 

[Nanahanman]

I'm paying $1200 a year for 5 bikes, all with comprehensive, collision, liability and uninsured motorist coverage.

$1200...for 5 bikes!!!!!

SHUT......UUUUUP !!!!

 

[papaseven]

Identity theft. PLEASE!!!

If anybody wants my identity I will be glad to send them my info!