50,000 across eight credit cards.
WTF?
The article says she hasn’t used her TJ Maxx card in over a year. So she made some progress..,.......
Meh, I’ve owed way more than that a few times..however it’s generally been really low rate or zero Interest and allowed me to make an investment elsewhere or buy time on a deal I was working
“50,000 across eight credit cards.
WTF?”
They should take the hit, go bankrupt, and start over. They will never, ever pay off that credit card debt and it will only cause them extreme stress for the rest of their lives. And, of course, don’t do it again.
WTF?
This is pretty easy to do if you're a moron. I have 3 credit cards that I more or less rotate purchases through. A few months ago, I bought a new (to me) motorcycle and rather than just writing a check, I put about $13k on one of my credit cards. (which still didn't threaten its limit) Within a week or so I got a note from the CC company letting me know they'd increased my credit limit by another $10k. I paid the entire balance when it was due, but the limit is still $10k higher than it was.
I believe they thought I'd screwed up, and wanted to make me a debt slave by increasing my limit beyond what (they thought) I could afford. To hell with that. They loan me money all month, and then I pay it off without interest. CC companies really hate folk like me.