Credit Card companys Getting nosey .

[SUPER X]

Had to do a charge back on a Item not received . Was Asked what does the company do ? What do you use it for ? Ect ect ect. I was very very vague . (Recreational products ,) .more digging came but I alluded into some other issue . I only use cards to order online now or for emergencies. As long as I pay my bill, and use it to buy legal products it should not matter. Some firearm product distributors must be on a list or they are not happy with me keeping my card balances in check and running Zero balance .
I can sometimes hear a change in the customer service persons voice when they look back on my bill. This is supposed to be AMERICA. I order, I pay and. None ya .

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[Hueco]

I'm fairly certain they don't give a darn about your zero balance. Every time you swipe that card, they charge the merchant a fee. They make a lot, lot more money off merchants than they do from people who carry a balance.

Carrying a balance isn't even a part of your credit score, though paying on time is.

When you start a dispute, most banks that take care of their customers will issue a temporary credit back onto your card while mailing out documents to the disputed party for their side of the story. I've been able to hold up my end via voice only but have also been required to sign my portion of it (the bank recorded notes, sent me my notes officially, then I signed it and sent it back).

If the disputed party challenges you, they'll write up their side of the story, it'll get sent to you, and then you'll need to provide a response. It is at that point that the bank will make a decision on whether or not to credit you.

In my experience, most sellers just let it go - it's not worth the hassle.

Because they have to converse with the disputed party, it makes sense that they'd like to have some context around the sale. It may not be completely necessary...but it does make sense.

The person you talked to is essentially a call center employee; I don't think they're being malicious by asking you for context.

The big banks are able to organize your spending into categories. Trust me, they don't need to ask you if that purchase from BlaBla's Brass BoomSticks is firearm related...they already know.

 

[Medic!]

What's a Credit Card?


Also. What's a credit score?

 

[Greenbug]

I can assure you that some credit card companies and clearing banks are actively shutting down services to businesses involved in firearms/ammunition transactions!

 

[ma96782]

A recent story on the subject of "mail orders and refunds."

I ordered some "backpacking food" from a vendor on Amazon. I was informed by the vendor that my package was on the way. I even got an e-mail with a USPS (United States Postal Service) tracking number. It would arrive a day after I would be leaving for a three week trip to a foreign country.

Of course the bill came while I was on the trip. But, I paid.....via the internet.

So anyway.....I just got back from my trip and no delivery had been made. The Amazon web site says that the package had been delivered via the USPS. I left the vendor an e-mail about the non-delivery of my package.

I contacted the CC company (Chase, as it was an Amzaon CC). I was turned over by Chase to Amazon, as they have some sort of agreement to allow the vendor to respond w/in two days before they'll move forward on my non-delivery complaint and a possible refund.

So....the wait begins.

Meanwhile, I did a check with the USPS web sight (using the tracking number that was provided by the vendor). I discovered that the package had been delivered to Fairmount City, PA. WTF, I wanted the package delivered to my home (in Vancouver, WA). Amazon processed this purchase using my home address on file and I've never even lived in PA.

Is it the fault of the USPS or Amazon?

I doubt it. Because, I then checked the vendor's "feedback" on Amazon. WTF? In the last year the vendor has had over 207 feed backs responses. ALL were NOT positive. The buyers/comments were using the word "SCAM" and one even said that their package had been delivered to another state (no mention of the state).

So.......I put on my "criminal thoughts" thinking cap. What if......I were a criminal?

1) I place a fake add up on Amazon.
2) Does the vendor now have a bunch of CC# for use in future illegal activities? Courtesy of Amazon?
3) Why has Amazon had no interest in closing down this vendor? Look at the feedback for God's sake.
4) Why is the USPS Postal Inspector's Office not involved? I suspect that, it's been happening on an almost "regular basis." That is.....using someone else's address in another state (possibly a co-conspirator of the vender) to "receive" packages. The whole ruse of using a USPS tracking number so as not to arouse the suspicion of the buyers. Rrrright….while the vendor gets a pass so that they could claim it was a "simple mailing error."
5) Then......maybe some buyers might just say, "I'll forget it. It's too much trouble, for a $25.99 refund."

Perhaps, THAT IS the vendor's business plan?

Sell plenty of product. Use a USPS tracking # and have a tiny something delivered to a fake co-conspirator in another state to make it look legit. If someone complains.....say that it was a mailing error. But.....if there is no complaint, keep all the money.

Aloha, Mark

 

[Jonnyuma]

Carrying a balance isn't even a part of your credit score, though paying on time is.

Not to belabor a relatively minor point, but your balance as a percentage of your combined credit lines does effect your credit score.

Most monitoring companies recommend utilizing <30% of your total credit even if you pay the full balance every month.

I started monitoring my credit score fairly recently and it's amazing (and a little disheartening) to see exactly what can cause detrimental changes.... a hard inquiry (for a new card or credit line) can temporarily dock you almost 100 pts like *that*. Learnt that one last month. Doh!

 

[Hueco]

Not to belabor a relatively minor point, but your balance as a percentage of your combined credit lines does effect your credit score.

Most monitoring companies recommend utilizing <30% of your total credit even if you pay the full balance every month.

I started monitoring my credit score fairly recently and it's amazing (and a little disheartening) to see exactly what can cause detrimental changes.... a hard inquiry (for a new card or credit line) can temporarily dock you almost 100 pts like *that*. Learnt that one last month. Doh!

That's a good point. The fact that you carry a balance is a moot point, but if you are over the utilization threshold on any given day, your score gets docked.

I've considered getting the highest a game - ironically I finally broke 800 only after I was strapped. Adding the mortgage and a second car with CC's below util got me over the hump. I had been riding. 775 for awhile with just one car and some CC's or no car and some CC's.

 

[ma96782]

I just got a notice from Chase that because I had not used one of their cards in a long while, they would close down the CC account. OR, I could use the card w/in __x___ days and it won't be cancelled.

Rrrrright…..go ahead. Cancel the CC.

LOL......I'll just apply for another CC at another bank. Then, I'll get their free cash back for opening a NEW CC account with them.

Aloha, Mark

 

[Hueco]

A recent story on the subject of "mail orders and refunds."

I ordered some "backpacking food" from a vendor on Amazon. I was informed by the vendor that my package was on the way. I even got an e-mail with a USPS (United States Postal Service) tracking number. It would arrive a day after I would be leaving for a three week trip to a foreign country.

Of course the bill came while I was on the trip. But, I paid.....via the internet.

So anyway.....I just got back from my trip and no delivery had been made. The Amazon web site says that the package had been delivered via the USPS. I left the vendor an e-mail about the non-delivery of my package.

I contacted the CC company (Chase, as it was an Amzaon CC). I was turned over by Chase to Amazon, as they have some sort of agreement to allow the vendor to respond w/in two days before they'll move forward on my non-delivery complaint and a possible refund.

So....the wait begins.

Meanwhile, I did a check with the USPS web sight (using the tracking number that was provided by the vendor). I discovered that the package had been delivered to Fairmount City, PA. WTF, I wanted the package delivered to my home (in Vancouver, WA). Amazon processed this purchase using my home address on file and I've never even lived in PA.

Is it the fault of the USPS or Amazon?

I doubt it. Because, I then checked the vendor's "feedback" on Amazon. WTF? In the last year the vendor has had over 207 feed backs responses. ALL were NOT positive. The buyers/comments were using the word "SCAM" and one even said that their package had been delivered to another state (no mention of the state).

So.......I put on my "criminal thoughts" thinking cap. What if......I were a criminal?

1) I place a fake add up on Amazon.
2) Does the vendor now have a bunch of CC# for use in future illegal activities? Courtesy of Amazon?
3) Why has Amazon had no interest in closing down this vendor? Look at the feedback for God's sake.
4) Why is the USPS Postal Inspector's Office not involved? I suspect that, it's been happening on an almost "regular basis." That is.....using someone else's address in another state (possibly a co-conspirator of the vender) to "receive" packages. The whole ruse of using a USPS tracking number so as not to arouse the suspicion of the buyers. Rrrright….while the vendor gets a pass so that they could claim it was a "simple mailing error."
5) Then......maybe some buyers might just say, "I'll forget it. It's too much trouble, for a $25.99 refund."

Perhaps, THAT IS the vendor's business plan?

Sell plenty of product. Use a USPS tracking # and have a tiny something delivered to a fake co-conspirator in another state to make it look legit. If someone complains.....say that it was a mailing error. But.....if there is no complaint, keep all the money.

Aloha, Mark

Your credit card is charged through Amazon, vendors do not get to see the numbers. Businesses have to do certain security things in order to be PCI compliant and to be able to store CC's. Most businesses don't bother (even internet ones) preferring your CC to be entered into the payment gateway on site, charged via a merchant account, and never stored in the database.

If it were a scammer using their own website, sure, they may be lifting CC's. Through Amazon? Nah, they don't have your number.

Because the box was verified as delivered but not to you, you have been charged for an item that you did not receive. That's a slam dunk CC dispute - the cash should be back in your account by now.

I just got a notice from Chase that because I had not used one of their cards in a long while, they would close down the CC account. OR, I could use the card w/in __x___ days and it won't be cancelled.

Rrrrright…..go ahead. Cancel the CC.

LOL......I'll just apply for another CC at another bank. Then, I'll get their free cash back for opening a NEW CC account with them.

Aloha, Mark

That's standard operating procedure for all banks. Use it, or lose it. If you're concerned about your credit score, then I'd advise using the card for something small (tank of gas) and paying it off immediately. That'll restart the clock. Having a card that you don't use serves to build credit history and bolster your CC Utilization if you use a different card.

An example: I have the card that I got when I was 18 from a credit union back home. Haven't used it except for incidentals to keep the account open. I have them raise the limit yearly. I have enough on it now to never have to worry about my util rate ever again.

It's nice being able to get an auto loan or home loan or personal loan for the rock bottom interest rates offered. If you're not in the market for a loan, then it won't matter. But if you are, it can impact you quite a bit.

 

[ma96782]

If it were a scammer using their own website, sure, they may be lifting CC's. Through Amazon? Nah, they don't have your number.

Thanks...that's good to know.

As for the pending Chase CC cancellation. Yup.....I have no concerns about my CC Score or getting a loan.

Aloha, Mark

 

[Capn Jack]

Wait until they deny your card after you've just put $1,200.00 of fuel onboard.
I called them up and got some E.S.L. that told me, "Your card is being used in Canada."
I told him yes, it was being used, by me, for the third time.
And I'm glad you finally felt, (after almost $3,000.00), that it should be questioned.
The problem was quickly resolved.

 

[The Heretic]

Amazon has been pretty good to me about items that have not been delivered. I always use their complaint system, not file a CC dispute, and they make it right within a few days, sometimes the same day. In fact, one item I ordered as a XMas gift kept getting delayed, then they said 'well, it must have been lost in the mail, do you want a refund?' I said yes, got a refund, ordered another, then the first one came at the same time as the second order - I told them this and no response, so I got one free.

As for CC balance, yes my score goes up and down for whatever the balance is on the day the score is calculated as part of the utilization - they don't give me any consideration for the fact that I pay it off every month (so as to pay no interest).

They also ding me for the mortgage not being paid down faster - i.e., balance vs. loan amount, but no consideration for the fact that my property is now worth about $150K more than when I bought it 8 years ago, so now I have much more equity than it appears from the utilization score. Of course I understand that this would require too much work on their part, and not that reliable (automated property appraisals vary wildly), but both this and paying off my CC balance each and every month (not to mention my retirement funds) are, I believe, good indicators of my financial health, which should be taken into consideration. That said, if I were to apply for another mortgage, I am guessing the lender would take those things into account - I know they do on the retirement funds.

 

[Hueco]

Amazon has been pretty good to me about items that have not been delivered. I always use their complaint system, not file a CC dispute, and they make it right within a few days, sometimes the same day. In fact, one item I ordered as a XMas gift kept getting delayed, then they said 'well, it must have been lost in the mail, do you want a refund?' I said yes, got a refund, ordered another, then the first one came at the same time as the second order - I told them this and no response, so I got one free.

As for CC balance, yes my score goes up and down for whatever the balance is on the day the score is calculated as part of the utilization - they don't give me any consideration for the fact that I pay it off every month (so as to pay no interest).

They also ding me for the mortgage not being paid down faster - i.e., balance vs. loan amount, but no consideration for the fact that my property is now worth about $150K more than when I bought it 8 years ago, so now I have much more equity than it appears from the utilization score. Of course I understand that this would require too much work on their part, and not that reliable (automated property appraisals vary wildly), but both this and paying off my CC balance each and every month (not to mention my retirement funds) are, I believe, good indicators of my financial health, which should be taken into consideration. That said, if I were to apply for another mortgage, I am guessing the lender would take those things into account - I know they do on the retirement funds.

You gotta look at it from their perspective. A credit score is a score that a bank gives you in order to stack rank you against all others in regards to safety of lending a loan. It's not a score of your awesomeness - it's them using a formula to gauge the risk involved with giving you money.

It does a bank no good to give a loan to someone who won't pay it back, which is why 650 scorers get such high interest rates. In the auto loan world, it is *expected* that they'll default on their payments and the vehicle will be repossessed. The vehicle loses a good bit of money in depreciation as soon as it is driven off the lot...so the only way a bank makes money on a 650 is if the interest is high and they get at least a years worth of payments (or so) before repoing the vehicle and selling it at auction to recoup as much as they can.

This is also why having a 750+ got me 0.9% for 60months on a car. It's only 0.9% interest for the bank, but because of my history, they were certain they'd get their money back and a little more.

So, factors that make you trustworthy matter: paying your bill on time, not taking out more than you can pay back, handling multiple forms of credit with ease. The fact that you don't carry a balance doesn't mean zilch to this equation...only the fact that you pay on time, every time.

A house is not a liquid asset and its value is highly variable based on market trends, so that doesn't really factor towards the question of whether or not you'd pay on another loan. This is also why your savings account balance doesn't mean a damn thing either. I took out a loan for my wife's engagement ring even though I had 100% the amount in savings because I found it better for my situation to have the cash for other endeavors. Did that make a lick of difference to the bank? No. Reason being, it's not like you are guaranteeing that money for them...you could hit an emergency and spend it the day after you sign the loan.

It's a game, really...know how they do things, and play it against them to the best of your ability.

 

[The Heretic]

I agree that the fact that I have $X in an account that is many times the credit line is probably not a factor in whether I would pay off any borrowed amount - but it is a factor in whether I could pay it off. Lenders want to know my income which is another factor in whether I could pay off a borrowed amount. Mortgage holders want to know about my retirement funds and checking/saving account balances (not to mention the appraised value of the property) so those factors are important - it is one reason why mortgage lenders only partially consider your credit score.

Do you think people with a net worth in the millions or billions have problems getting high lines of credit on credit cards?

 

[Medic!]

This country is so bassackwards when it comes to debt/credit.

Americans on average save about 5%.
And they worry about getting a good percentage rate on there investments.

Then they turn around and spend over 30% of there bring home servicing there debt!

Your gona need a pretty insane return on your 5% to cover that.

I

 

[ma96782]

WHY worry about debt at all?

Vote for Pocahontas and she'll forgive your student loan debt. Then, for her next trick (re-election). Vote for her again and she'll forgive your mortgage loan. See how that works?

Rrrright.....talking about "tit for tat" trading. Do something for me and I'll do something for you.

IMHO.....asking a foreign Government (jurisdiction matters) to "investigate" any American for wrongdoing in that foreign country, pales in comparison.

Aloha, Mark

 

[Hueco]

WHY worry about debt at all?

Vote for Pocahontas and she'll forgive your student loan debt. Then, for her next trick (re-election). Vote for her again and she'll forgive your mortgage loan. See how that works?

Rrrright.....talking about "tit for tat" trading. Do something for me and I'll do something for you.

IMHO.....asking a foreign Government (jurisdiction matters) to "investigate" any American for wrongdoing in that foreign country, pales in comparison.

Aloha, Mark

This pisses me off so much - Warren's promising it and so is Sanders. I got myself a partial tuition scholarship and then worked two jobs while going to school full time, one at $7.00/hr the other at $10.00/hr, in order to cover all other expenses. I would have graduated debt free but decided I wanted to take a semester in a foreign country so I took out $15,000 to cover that.

Graduated into the crap economy of 2010 and got my first "real" job making...$32k. Still managed to pay back my loans within a few years. Had to live with two other people, ate a lot of rice, and going out meant sneaking your own booze into place. But, I made it.

You mean to tell me that, because I worked hard and smart, that I get to double pay - once for myself and once for others?

How about instead...we help those who have and are helping themselves. I'd love a tax break to compensate me for the interest I paid on my loan (as little as it was). I'd love a tax break for the interest on all those loans for people who are helping themselves...the ones working while going to school, making smart decisions, delaying gratification.

To all those who took out 6 figures just to not have to live at home, to party for 4 years, to get a junk degree just to continue working at Starbucks...I have no sympathy for you. You borrowed, now pay it back. And thank God the mafia isn't around and you didn't borrow from them.

 

[ma96782]

UPDATE (about Post #5)

I just got the call from Amazon (1-31-20/1255 hrs). Amazon told me that the seller did not respond to my non-delivery complaint. So, my refund will be approved and that the refund should be reflected on my CC in about 3-5- days.

Being that I had the lady on the phone...….. I asked about why Amazon had not taken the seller down. I explained to her my theory (If, I was doing my Criminal Business Plan). And, complained about Amazon's complicity by allowing the seller a place to advertise.

Her response was, "An investigation would be initiated." Rrrright.....

"Forgetaboutit!"

Aloha, Mark

 

[SUPER X]

I just got a notice from Chase that because I had not used one of their cards in a long while, they would close down the CC account. OR, I could use the card w/in __x___ days and it won't be cancelled.

Rrrrright…..go ahead. Cancel the CC.

LOL......I'll just apply for another CC at another bank. Then, I'll get their free cash back for opening a NEW CC account with them.

Aloha, Mark

Mine was closed for non use. But now many places require a visa or mc on file . I of coarse chose to not support company's that do not support 2a . It's slim pickings .

 

[Certaindeaf]

What's a Credit Card?


Also. What's a credit score?

Something that's required to rent a car etc.