Quote:
Originally Posted by el presidente
Dayum!
I don't know how many cards I've got (some old department store cards (never use), Home Depot, Lowes, and a gas card or two)....they all stay in the safe with the exception of three. I also have daily credit monitoring - good credit is worth protecting.
1. AMEX - Delta SkyMiles We buy everything on this card. Pay off at end of month.
2. Mercedes-Benz Visa - In case a store doesn't take AMEX. I charge less than $100/mo so it's paid off too.
3. (Business) Visa - for business trips and expenses - paid off monthly.
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Yup, sadly so. Putting a couple of semesters at UConn on a card because I pissed away the money my parents had given me to get through 4 years of school didn't help.
Once I got out of school and into the real world I knew the hole I had dug. But I was determined to get myself out of my self-inflicted situation instead of the bankruptcy route (I know of a couple acquaintances who did file back when it was easy-sure seemed like a good idea at the time. Not so much looking at their situations now!).
I have 2 cards that I use regularly now. One for business so I can get the miles and the other used mainly for groceries and gas, that get paid of entirely or near-entirely every month. The third card is one of the leftovers that is down to the final $3K. I have a Sears and JC Penny card somewhere but we don't use them.
I am the poster-child of what not to do with your credit cards. While embarassed that I got myself into the situation, I am pretty proud that I was able to get myself out of it the right way. My credit score is just creeping up to the "Good" level now. It sure didn't take long for it to drop!