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Posted by Red Green on May 3, 2008, 8:40 pm
>
>>@news.infowest.com:
>>
>>> The best revenge is to cost them what they value most. Time.
>>>
>>>
>>
>>This works at the post office, too. I kept getting pre-approved
>>credit card apps from JP Morgan-Chase Bank, platinum business cards.
>>I sent two back saying no and take me off the list, but they
>>persisted. So, I started sending them in to see if they'd really send
>>me more cards. (I already have one.) They kept sending them and
>>sending them. I have 10 Chase Business cards, now, all with different
>>numbers on them with really high credit limits....all with 3% cashback
>>and no fees. Every month, I rotate using them to keep them active as
>>you must use them at least once every 12 months to keep them active.
>>I can now afford open heart surgery at the best hospital in the
>>country with the highest priced vampires.
>>
>>So far, noone as questioned why I have so many Chase cards.....stupid?
>> Them or me? The cost me nothing as I always pay off the bill...no
>>interest, no charges.
>>
>>One hand has no idea what another hand is doing in big
>>corporations.....
>
> It's my understanding -- open to correction -- that applying for many
> credit cards is detrimental to one's credit rating. The thinking of
> the Big Three rating organizations is that somebody who needs
> that many credit cards might be a little shaky in the finance
> department, so they need to keep bouncing from card to card.
>
> I would genuinely like KNOWLEDGEABLE input on whether
> this philosophy of the rating orgs. is valid. (Personally, I stick to
> about 2 or 3 -- why more?)
>
> BTW: Doesn't the above message echo some of the attitude
> that caused the sub-prime housing bust, which is now affecting
> economies around the world? IOW, extend credit promiscuously?
>
>
Also, the more cards you have the higher the probability of identity
theft.
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