Places you should not use your credit card

For just about anything you want to get off your chest about credit cards.
8 posts
JA.
Gold Member
Gold Member
 
Posts: 49
Joined: Mon Jan 09, 2012 3:47 am
Location: Denver, CO

Places you should not use your credit card

Postby JA. » Wed Mar 21, 2012 1:34 pm

Im just wondering if this is true or not? I found this while browsing credit card websites and doesn't the name of the store prints on your statement anyway and not what you bought specifically?

So this is the list i found:

1. Traffic tickets: You look reckless. And tickets can push up your insurance rates, which could put a strain on your finances, which could make it harder for you to pay your bills. A lot of people who have charged traffic tickets have defaulted on their cards.

Continue reading the list here.
Amex Zync
Chase Marriot Premier
Discover IT
WF Platinum Cash Back


Moneytalks
Centurion Member
Centurion Member
 
Posts: 438
Joined: Sat Feb 04, 2012 8:22 pm
Location: United States

Postby Moneytalks » Wed Mar 21, 2012 2:46 pm

Good article! I knew a few of them, but was surprised about the pampering part...everyone needs a little pampering once in a while, regardless of your financial situation lol :)
Wallet: Amex BCE & Chase Freedom. (Credit Card dieting since 2014)

DavidNY
Centurion Member
Centurion Member
 
Posts: 1332
Joined: Tue Jul 05, 2011 12:28 pm
Location: New York

Postby DavidNY » Wed Mar 21, 2012 5:27 pm

Mostly bogus (in most cases merchants names appear, but the service they provide doesn't), but credit card companies may give a CL a haircut if there's too many cash advances at the casino.

JCarter
Centurion Member
Centurion Member
 
Posts: 323
Joined: Thu Mar 15, 2012 10:40 pm
Location: Virginia

Postby JCarter » Thu Mar 22, 2012 1:18 am

I regularly utilize my cards to purchase at "bargain" stores as they so claim, and have never had my CL decreased. Secondly, you can not legally utilize a "credit" card for purchase of a lottery ticket. You can utilize the debit feature of your check card, or pay cash, but legally you're never supposed to charge it.

dznutz
Green Member
Green Member
 
Posts: 7
Joined: Fri Feb 24, 2012 8:17 pm
Location: santa ana, ca

Postby dznutz » Thu Mar 22, 2012 7:42 pm

wait do credit card companies go through your purchases?

and #1.... getting the ticket alone will push up your insurance rates. this has nothing to do with using the cc to pay if off

amex canceling someone's card because they shop at walmart or at the 99cent store? i'm pretty sure the real reason was they didn't pay their bill on time because they were trying to make ends meet

JCarter
Centurion Member
Centurion Member
 
Posts: 323
Joined: Thu Mar 15, 2012 10:40 pm
Location: Virginia

Postby JCarter » Sat Mar 24, 2012 11:02 pm

dznutz wrote:wait do credit card companies go through your purchases?

and #1.... getting the ticket alone will push up your insurance rates. this has nothing to do with using the cc to pay if off

amex canceling someone's card because they shop at walmart or at the 99cent store? i'm pretty sure the real reason was they didn't pay their bill on time because they were trying to make ends meet


No they don't manually review them, but a system does classify them to help them identify partnerships and where the most money is being spent.

I've been subject to having my account reviewed due to constant purchases at Target. But at no time was I at risk for cancelation.

They want to be sure you are not over extended and making purchases at "bargin" stores to save utilization and be able to live off of your credit. Legally and ethically they have every right to do so.

I have never heard of anyone ever having a card canceled because they shopped at (Insert store name), most likely they just had an account review and had their credit line decreased due to inability to cover that line of credit

User avatar
PlatinumAMEX94
Centurion Member
Centurion Member
 
Posts: 321
Joined: Mon Jan 02, 2012 1:21 am
Location: Denver

Postby PlatinumAMEX94 » Sun Mar 25, 2012 3:23 am

I know of a someone who lost his job and had to live off his credit cards. American Express reviewed his credit report and saw the sudden spike in newly acquired debt and canceled his charge card. Their reason had to do with sudden influx of revolving debt ratio putting him in a different credit bracket, high risk. If I was American Express and I knew someone was unemployed I wouldn't want them racking up debt not knowing how it was going to be repaid, or it would eventually lead to bankruptcy.
American Express Platinum Personal, Member since 94
Chase United Explorer - Visa Signature
Chase Sapphire Preferred
American Express Business Simply Cash

American Express Costco Business, American Express Platinum Business
Bank of America 10k, Capital One Venture World MasterCard 7.5k, Fidelity Visa Signature 10k
Citibank ThankYou Premier World MasterCard - Card Member since 91, 25k
Discover 10k Member since 91, Wells Fargo Personal & Business Visa Signature
USAA World MasterCard 12k, Chase Slate Exclusives Visa 5k

Lifelock member, USAA credit monitoring, Security Freezes E/E/TU, 800+

DavidNY
Centurion Member
Centurion Member
 
Posts: 1332
Joined: Tue Jul 05, 2011 12:28 pm
Location: New York

Postby DavidNY » Sun Mar 25, 2012 1:58 pm

JCarter wrote:
I've been subject to having my account reviewed due to constant purchases at Target.


Everyone shops at Target. Who complained?

(I switched to their debit card since they have 5% off)



Return to “General Credit Card Talk”

Who is online

Users browsing this forum: No registered users and 1 guest