A Way Of Life, Unfortunately
Oct 11 '00
Credit cards and interest have been a way of life for me. I envy people who can charge only what they can pay back in 30 days. Unfortunately my fixed income doesn't allow me to do that. Why is my credit card debt so high? I can only point a finger at myself...they are dangerous in my hands.(NOTE: I use WebTV and cannot paragraph so I use dots. ..........................................................................................................................Let's go back to the beginning. When I was freshly divorced and left to raise four young children on my own. Nobody would give me a credit card. A few years later when I was back on my feet with a good job and decent income they were only too happy to give me a plastic spending machine. I had too many of them and often used them to buy frivolous thing. Giving me too much credit is like putting a kid in a candy shop. It's so hard to resist the "wants" that exist in the world. I have will-power but somehow couldn't use it when it came to credit card purchases. ..........................................................................................................................I loved it when the IRS would let you deduct the interest charged on credit, but they did away with that long ago. This prompted me to cut up all my credit cards and keep only one. And that one card is pretty near the limit. Part of the reason is a European trip I took last March, and it was worth every penny. It'll take me years to pay it all off, but I don't care. A word to the wise, if you go on a foreign trip for the first time, be sure to notify your credit card company. I had trouble charging things in Rome til I called the credit card company and told them I was traveling. This was a new experience for me and apparently the company questioned the legitimacy of the charges. I was always able to make the charges, but had to talk to someone and give my mother's maiden name and all that other junk. I found a mosaic cross in a store at the Vatican that I loved...didn't need it...but I do love it and it is smashing on my living room wall. It was in this store that I had to be run through the hoops to get them to accept the charge. That takes a lot of time out of your vacation...so let them know ahead of time. .........................................................................................................................Just recently I called my credit card company and asked them to give me a lower interest rate. They complied and it saves me quite a bit each month. Transfering a balance to a card with a lower rate is also a good idea, if the rate doesn't jump sky-high after the initial low offering rate. Read the fine print. I've received offers of 2.9% and 9.9% for six months or so, but then it jumps to 24%. That is not a good rate. ..........................................................................................................................So soon we get old and so late we get smart. I now only use my credit card for my WebTV access fee, and for ordering my Mellaleuca vitamins. It will still take me a long time to pay off the balance, but I'll get it done. Also, just prior to my European trip, I made large payments on my card so I'd have enough on it for emergencies on the trip. This enticed the credit card company to raise my limit by $2,000. While it helped me buy some beautiful objects during my travels, it really didn't help me out financially. Keep a credit limit that you are comfortable with and if they raise it higher, give them a call and tell them to put it back where it belongs. ..........................................................................................................................Credit cards can be a wonderful thing, as long as they are not abused.
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Epinions.com ID:
disaggau
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Member: Di Saggau
Location: Fort Myers FL
Reviews written: 86
Trusted by: 11 members
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