Financial Challenges Support Group

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Well THAT felt good!

needtoreboot
needtoreboot
I was cleaning out my desk a few days ago and found an old creditcard holder. Yes, there was a time I had so many creditcards they wouldn't all fit in my wallet ;-( It took a few years of work, but NONE of these cards has a balance on them. I hadn't used any of them in a couple years at least.

I did a quick sort and pulled out the ones that had an expiration date on them. Most of what was left was Department Stores. A few of the expired ones were bank cards that I know for sure I have closed.

I have to admit, I had a moment where I thought about calling the stores just to see if the card was still active. Cause gee, ya never know when you're going to have a Kohls or Sears emergency. ;-)

Then I remembered the cold splash of water when I realized how much creditcard debt I had. I remembered breaking the habit and working hard to get rid of that debt.

I took the scissors and cut each of those cards into tiny little plastic confetti. That felt better than any amount of spending I would have done.

I still have a "major" card. I do use it - but only when I've saved the money for what I plan to buy and the money is ready to pay the card when the bill arrives.

The only part about this that didn't feel good is that my hand is sore from whacking up all the creditcards!
billwfriend
billwfriend
congrats dear needtoreboot....that is great stuff...cutting them into tiny pieces....woot woot
Messenger2010
Messenger2010
I do hope your hand gets to feeling better... in the long run it was well worth it.

You hit the nail on the head - it was a habit. That is all credit cards are - a habit.

I used to have cash but I still used CC's. Now my habit is cash and when the cash is gone, my spending is done.

I have two major CC's now and have been thinking of a third one. I have been battling my thoughts with a third one for over six months. The only reason I want a third one is because it is a Visa... my other two are MasterCard's.

With my travels to England, there is a rare occasion where MasterCard is not accepted. But for those five weeks of a year, do I really need to acquire another CC?

The two I have I manage very well. They are both over two years old and neither one has never cost me a penny in interest. Which has helped my credit score a lot. I'm sure I'll keep debating it. The one thing that has changed when my habits with money changed is that I don't have instant gratification anymore or any impulsive buying habits... which has been a great blessing.

One thing I will never own again is a store CC. I used to possess, a Sears, JC Penny, Menards, and Best Buy. As soon as I paid them off they were closed. If I have a major CC, why do I need these cards? The reality was I didn't possess these cards - they possessed me.

There is a wonderful feeling of living with cash and it helps our habits with money and the power it can have over us...
ginateresa
ginateresa
Oh yeah....In 2008 I had to file bankruptcy because I lost my job and was about to lose my house. Before that, I had three major credit cards and all of them were maxed. Combined it was almost 10K of debt. I filed Chapter 7 to wipe them all out and NEVER will I get in that trap again! Needless to say, my credit sucks now, but I have two Capital One Secured Credit Cards that have a max of $300 on both. I did it to rebuild my credit over time and it has worked some. However, now everyone is sending me applications online and in the mail. I REFUSE to get in that trap EVER AGAIN! I totally agree with Messenger2010!! It's a trap!!!
billwfriend
billwfriend
I did BK in 2004 and have a bunch of cards now and none are secured...and I am working my way to pay them off....one thing leads to another I did get in over my head again....but it now is getting better....
mysooners
mysooners
YEP, 2008 DID US IN, WE HAD EVERYTHING WE COULD WANT IN ARIZONA, 8 CC'S BIG HOUSE, POOL IT WAS ALL VERY NICE. THEN WE BOTH LOST OUR JOBS AND COULDN'T FIND ANYTHING ELSE OUT THERE. WE PACKED UP WHAT WE DIDN'T SELL AND MOVED BACK TO OKLA. WE ARE NOW IN MY IN-LAWS HOUSE (THEY HAVE BOTH PASSED) 750 SQ FT. NO CC'S LIVING ON MY SSD CHECK AND HUBBY DONATES HIS PLASMA. BOY, WE STILL OWE ON THOSE CC'S. WE PAY WHAT WE CAN EACH MO.

I THINK I GOT OFF THE TRACK HERE, SO SORRY. WHEN WE GET A CC IN THE MAIL, I SHRED IT. MY HAND DOESN'T HURT. LOL.......SORRY
ginateresa
ginateresa
I was in the same boat as you were with the credit cards! You using it and paying the balance in full each month will help raise your credit score too!
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