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Watch your credit cards

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Bonibelle:
Vinny,  We are lucky because we can tell them to go scratch..but think of the many people who depend on these stinkin cards or who have used them to the max and will NEVER be able to pay them off because the interest rates are so high.  I just want rid of all of them..and I would l just love for some novel idea to to evolve to help people out from under these things..that would put them all out of business..grrrr

Vinny:
I agree 100% with you. The 10% that are able to pay it off and be free is a small number vs the 90% that will continue to pay the 30% or higher payments.

The novel idea is to stop using the credit card, don't even carry it. Use cash whenever possible and when the economy recovers and it will, get a 2nd job and pay off the debt! Even at $100 week that's $5200 a year if 1 person does it and $10400 if 2 people (husband and wife) do it. You can get the debt down quickly (a few years) if you put this on top of the minimum payment already being paid.

Having to work 2 jobs sucks (heck I don't even want to work 1 - LOL  :D) but these people did it to themselves!

I have a saying that I tell my sons - 'In life you have to pay, either by money or time or by hard work. Nothing in life comes for free.' I truely believe this. Luckily my 19 YO sees what I have said and is working toward a college education, my 14 YO is still too young to realize this, hopefully he will see this as well.

And after all this preaching, I do feel very fortunate that I was able to pay off the car and live the lifestyle I do! Which isn't much!!!!

rcnitro:
I completely agree with you guys. I am very lucky to not owe much on the card at all. In fact it will be paid off next month. We pretty much only use it on vacations anymore cause we dont like to carry much cash plus you have all of the fraud security. There was a time when we carried a massive balance on a couple of cards. We learned our lessons and have got them paid off or virtually paid off. I know there are alot of people out there that aren't as lucky. I plan to pay this off, cash in my reward points and tell them to stick this card where the sun doesnt shine. ;D I may check out our credit union we bank with and see what kind of CC deals they have. We had a good, issue free, run with Chase for 8 years but unfortunately that will be coming to an end.

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