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This might just be my insomnia talking, but I thought a reasonable idea might be to call and reduce the available credit by however much is comfortable. For me, it would be fairly reasonable to reduce it by 50%. I assume they use some kind of magicians handshake to value their company based on how much potential credit is out there… Maybe it’d do nothing though. Anyone know?

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Saleh@feddit.org ⁨1⁩ ⁨day⁩ ago
You guys use them for actual credit? To me it seems that in Europe they are mostly used as a debit card directly charging your account, but compatible with the global payment processing of them.

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- lmmarsano@lemmynsfw.com ⁨1⁩ ⁨day⁩ ago
  I thought credit was the main selling point.
  
  Ability to dispute & reverse charges.
  
  Flexibility to keep cash in a higher interest account until payment is due.
  
  Not having to constantly check enough cash in is your low interest checking account (which you’ll keep low so your cash earns more interest elsewhere & to minimize losses in case of unauthorized debits).
  
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  - bjoern_tantau@swg-empire.de ⁨1⁩ ⁨day⁩ ago
    You have an account that earns interest?
    
    Last time I saw that was as a child.
    
    But then again I was able to get a loan for my house at ridiculously low interest, so I’m not complaining too much.
    
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    Modern_medicine_isnt@lemmy.world ⁨1⁩ ⁨day⁩ ago
    Well think of it like this. I keep an amount in my checking account (basically no interest) to cover the credit card bills. Extra I move out to an online savings account that does have a ddcent interest rate. By having a date when the CC bill comes due, I can check once a month (7 days before due) and move money if needed to cover the bill. So while the checking has practically no interest, I was getting close to 5% on the savings for a while. Still a far stretch from the 12% cds I got as a kid, but it’s something.
    
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    lmmarsano@lemmynsfw.com ⁨1⁩ ⁨day⁩ ago
    Yep, like this one, though it could earn more in bonds or investments.
    
    Low-interest loans are great, too: if they don’t need to be repaid right away, they can be leveraged to earn back more than their cost.
    
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    SheeEttin@lemmy.zip ⁨1⁩ ⁨day⁩ ago
    HYSA exist. My checking account earns a pittance.
    
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couch1potato@lemmy.dbzer0.com ⁨1⁩ ⁨day⁩ ago
This will do nothing except hurt your own credit score as your credit utilization will be higher

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proudblond@lemmy.world ⁨1⁩ ⁨day⁩ ago
I am not a financial guru so hopefully someone will correct me if I’m wrong about this, but your credit score is affected positively the more available credit you have. So by voluntarily lowering your available credit, you’re actually hurting yourself way more than the card companies. At least I think that’s how it works, or rather one of many factors.

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