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Originally posted by p08:

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Originally posted by Rey HRH:
I don't understand the rant.

Principle over money in your book? How about learning the rules of the game and playing by them? It's not like you really showed them by closing out your $60 account; I think they even did you a favor by forcing you to not have $60 doing nothing all these years.

You didn't read it all did you? Originally I was not going to use them for vehicle loans for my business. Those are worth a bit more than the $60 balance I had in the account. I only had money in as it was a requirement to get the loans.

I did read that part that you benefited from their low interest rate car loans. You paid them off last year. Your post didn't read as if you're going to need to benefit from their low interest car loans anytime soon.

My point is: It's alright to benefit from business relationships (low interest rate car loans). But it isn't about principles over money that made them ding you a fee for a dormant account; it's about you not knowing the rules of the game. Since they refunded you the fee they took, I bet they would have refunded you the fee if you had asked and just make sure it's not dormant.

I take advantage of bank offers when they make sense but I make sure I know all the fine print.
I got $300 from Chase for opening a saving account. I made sure how long the money I deposited had to remain there (3 months) AND the small print is how long the account has to remain open (6 months). So I moved however much money was needed to earn the $300 bonus then at the end of 3 months, moved it back from where I had it and kept only $50 until the the 6 months is up.

My Capital One gave me a 12 month interest free on balances offer. I took them up on the principle of maximizing my cash flow. I just make sure I pay the minimum each month and I know my credit score will probably drop from 850 since I'll be carrying a balance. But you can be sure I have a flag to pay off whatever balance it is just days before the offer expires so as to avoid any finance charges. It's just knowing the rules. If I miss paying the balance off by the end of the period which I think they are hoping most people do, then it's not a matter of principle that they'll charge me interest rate; it's a matter of me ignoring the rules.