Small Balance Credit/Credit Adjustment tricks

June 11, 2007 · Filed Under Noteworthy 

Do you have credit cards sitting around with 0 balance? Here’s a little trick to milk the credit card company out of their lunch money. Most issuers consider low balance amount would cost them more for preparing and sending out postal mail statement. Instead, they will issue what is called a Small Balance Credit or Credit Adjustment to your account and forgive the debt. The question is how much is small enough and the max you can charge to be forgiven. It all depends on the credit card issuer.

Chase, Discover, Wells Fargo: $1.99 or less

Advanta, Capital One, Providian/Wamu : $0.99 or less

Citi, BoA, AmEx, HSBC will bill you at any amount.

Say you have a few Discover and Chase cards, this could be free $20 Gas each month. Call this fun money, free money, or play money.. just another credit card info.

Advanta Platinum BusinessCard with Rewards

Related posts:

  1. App-O-Rama Part 3: Playing the 0% Balance Transfer Game on the Advance Level
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  3. App-O-Rama Part 5: Playing the 0% Balance Transfer Game on the Advance Level
  4. App-O-Rama Part 2: Playing the 0% Balance Transfer Game on the Advance Level
  5. Great info on App-O-Rama: “How to: Make Money with Balance Transfer Arbitrage”

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Comments

5 Responses to “Small Balance Credit/Credit Adjustment tricks”

  1. Eric on June 21st, 2007 7:03 pm

    What??? you need to elaborate. Are you saying that if from month to month where there is no activity (and therefore the balance is zero)that the CC company will offer your account a credit?

    “Instead, they will issue what is called a Small Balance Credit or Credit Adjustment to your account and forgive the debt.” But there is no debt so why would there be an offering to put a positive balance in the account. MAYBE if you were set up for postal delivey of the account statement… but even still, $0.42 vs. a 25$ credit seems ridiculous.

  2. Hu$tler on June 21st, 2007 7:35 pm

    I wrote “Most issuers consider low balance amount would cost them more for preparing and sending out postal mail statement.”

    This means that you must carry a balance. It depends on the cards. E.G. Use your Chase Card that has 0 balance, and now charge $1.99 of Gas. Do not use the card anymore, and just wait for the bill. Once you see the bill, the balance is 0.

  3. rocketc on June 21st, 2007 11:31 pm

    Sometimes I get on your blog and just laugh. You aren’t one of those people who go to lunch with your grandmother and then make her pay for half, are you? What a way to make an extra buck… ha, ha.

  4. Hu$tler on June 21st, 2007 11:47 pm

    Keeping true to my form player, Hustling is the name of the game

  5. Eric on June 22nd, 2007 6:09 am

    Got it, thanks for the clarification.

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