Marci, I applaud you for not using a creditcard for over two months. That's quite admirable. My husband and I are giving our creditcards a rest, too. I'd still like to get one more decent card, so that I could do another balance transfer and I'm still looking. Other than that, though, our creditcards are going to remain idle. We've already made it through our first month. It's pretty simple. If we don't have the cash, we either do without or wait to make the purchase. We're planning to buy some furniture for the new town house we're renting, but we'll take money out of savings for that. That creditcard debt can accumulate fast! I don't think it's going to dissipate quite as quickly. Good luck to you. Keep us posted on your progress. Donna
Donna, Thanks for your note. I agree that the balances can skyrocket incredibly fast, and that it takes active effort to keep them down. I also like the concept of "no cash? then, no purchase" in my own life, though I admit to being on the beginning road of that thinking. I worked so hard to pay off delinquent debts and rebuild my credit. It would be a d---m shame to put myself back in that precarious position again because I didn't learn a lesson of wise budgeting. If I ever default again, there truly is no excuse; and I don't want to go out like that... I will keep you updated and best wishes to you and your husband re furniture shopping.
No way could get rid of caller ID.....or callwaiting ID. I do not answer the phone unless I know who it is. Even at work, my secretary has to ask what company they're with before I'll pick up the phone. I guess it's a little neurotic, but I hate it when someone gets a hold of you and won't get off the phone.....
You guys are all doing the right thing, but not making money is as bas as wasting money. $20,000 in used credit can easily make you a $1000 a year, if the rate is low enough. www.creditsense.com
Herb, I would seriously consider your program if the principle investment was guaranteed. Right now, I don't have extra "play" money that I wouldn't mind losing if the market really went south. I appreciate your sentiment, though... maybe one day, I'll be able to exercise my credit in a profitable way...
Marcy; I was not pushing my program. I was just making a point. Idle money (credit is money), is a waste of money. My program is not for everyone. It is for the individual or business that wants to make some money while exercising their credit. When you exercise your credit, you will get lower rates and higher limits, this is a proven fact. The market may tank further, but we have been paying over 19.47% APR since 1996. That includes the burst of the bubble, since March 2000. We have continued to make our schedule payments on time and will continue to do so. We have enough credit to get us through any further downturn in the market. We do make one guarantee, if we ever make a late payment, the lender can call the rest of the loan and interest. www.creditsense.com
