They must know what we're up to!?

stevemcol

Surely it wouldn't be too difficult for credit card companies to run software capable of detecting stoozing patterns. Do they already do it? Is that why we get denied cards occasionally?
Perhaps the companies don't mind low level stoozing....may be the cost to them is negligible?
Bottom line, I'm surprised we still get away with it to any extent.

Thoughts?

Milarky

When they have hardened stoozers phoning them up at all hours asking to cancel and then they direct you to a deparment offering you repeat balance transfers then you know that they must know....

At least they could 'force' customers to use their cards to run up spending balances instead by offering 0% on these for a period in lieu of balance transfers - that way they get the merchant charge as well as a second bite of the cherry as it were.

If they take a 'sieve' approach then a fraction people going on to low/no-rate balance transfers for a period will get 'stuck' for one reason or another - that's the profitable business they rely on. The more times round 'free-money' machine the smaller the number of addicts (eh! 'debt-resistant') customers they hope to meet.

Yes it defies common sense that they don't - or won't - interrupt the near ceaseless flow of money out of the credit card system but consider this: interest rates for those who do pay them are going up much more rapidly than 'base' rates (see my thread on Barclaycard, above.) In a climate of rising rates (fingers crossed against defaulters!) banks should find it easier to make still more profits. That if anything actually reduces their incentives to act against stoozers and could - perversely lead to even more repeat offers...