Get ready for all replies about how Credit Card is paid off in full each and every month...
LOL I know, I almost asked in the begging that those wise and financially secure not gloat too much.
I pay off my credit cards in full each and every month. :)
But seriously, if your credit card company does do this, simply write them a nice little note saying that while you will make the payments, also enclose the cards cut up, and explain that you will never do business with the bank that issued the card ever again, and that you will tell all your friends to never use their cards again.
I'm one of them - got out of extended credit card debt and high interest rates about 17 years ago and don't intend to go back to that black hole where all the money goes. We use our credit cards for groceries, gas, dining out, etc., and pay it off each month. If I needed a lot of extra money for a "loan" I would apply for a loan and get much better rates. If we don't need it, we won't go into debt for it; if we do need it, and can't afford to buy it outright (how much of credit card debt really fits that category?) we won't use credit cards. I really feel for the folks who got into the trap and don't know how to get out, but I find that being responsible with one's finances is the best bet. Heck, we can afford a biiger TV, but we still use the 32" one that is 7 years old. How many folks do you know that have enormous credit card debt and also have the newest cars, latest computers, best stereos and biggest TVs?
We took a huge hit from Katrina, but we can also afford to put things back together over a couple years because we try to be good stewards of of our assets.
Merry Christmas!
I get my re-fi check this week. I'm paying off the plastic and holding a card-cutting party. I'm not gloating at all, I know how undisciplined use of CC's can easily bury someone financially. But it is really nice to get away from those usurous (?) interest rates.
Credit-card free here and never been happier about it.
Good timing! See the post right after yours!!
LOL! It gives some of our sterner brethren a chance to lecture the rest of us. Wouldn't want to deprive them by explaining we do understand the process but have different priorities.