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Types of Credit Card Consumers and How Quick Credit Repair Deals With All of Them |

Types of Credit Card Consumers and How Quick Credit Repair Deals With All of Them

If you wish to learn about your credit card using habits, experts at Quick Credit Repair suggest you should start looking at credit cards from the perspective of a consumer instead of the credit card company. This will help you in figuring out your habits and once that’s achieved, it won’t take long to change them to improve the credit scores.

There are 5 types of credit card consumers in my opinion, are you one of them?

Max Payers: Those Who Pay in Full on Time, Every Time

couple-with-credit-card.jpgCredit card companies don’t make as much money from this type of consumer as they do from the others, but max payers still retain the title of profitable customers. For each transaction from a credit card, stores are charged around 3% by the credit card companies which means even if they are rewarding 1% to these consumers as per the company’s cash back policy, they are still making money.

Revolvers: Those Who Always Carry Debt

This type is considered to be the credit card company’s favorite out of all consumers, because they often stretch out their payments for years and make payments of only the minimum or slightly above. It doesn’t matter if the debt of this consumer is large or small, as it’s rarely paid off in full. As a result of their never ending debt, interest rates and fees mount higher and higher, thus allowing credit card companies to make more money.

Deadbeats: Those Who Never Pay, nor Have Any Intention of Paying

happy-woman-shopping-online-with-credit-card-and-cell-phone.jpgThis type of consumer is the least favorite for credit card companies and there’s absolutely no surprise in this regard. Deadbeats are the reason why interest rates and fees are so incredibly high for everyone else! Chances are that such consumers obtained a credit card by fraudulent means or made a game of signing for every card just so they could get a freebie, store discount or another such reward. This type of consumer isn’t only regarded as bad for credit card companies but bad for other consumers as well.

The Arbitragers: Those Who Game the System to Make Money From 0% Balance Transfers

This tactic to basically ‘con’ the system hasn’t been around for many years but is being practiced quite diligently and precisely by most people. In this method, consumers borrow over $1000,000 from a number of credit card companies and earn money from the interest accrued. This practice is now being stopped by reducing the amount of 0% balance transfers one can take out. Another technique to prevent the practice is by implementing exorbitantly high fees for the balance transfer.

The Reformed Credit Card User: Those Who Used Credit Cards But Stopped Altogether

frustrated-businessman-cutting-his-credit-card.jpgConsumers who stop using credit cards, even for emergencies for any reason, are known as former credit card users or non-users. Usually the case with the sudden change of heart is problems that such users faced, debt being the primary cause. Credit card companies miss these consumers the most as they usually come from the revolvers group before deciding to stop using their credit cards altogether and come up with incentives and rewards to attract these consumers into using credit cards again.

Even if you don’t come under the types explained above and are only looking for quick DIY credit repair tips and strategies to help build your credit score up or if you are considering applying for a secure credit card, chances are that you will find that and much more just at the click of a button.     


Ravi Singh

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