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JTH
09-23-2008, 10:05 AM
I was debt free when I bought my first house 5 years ago. Too many self-help projects and such put me 18,000 in the hole on my credit cards.

I'm taking out a TSP loan and using it to pay off some credit cards with a higher interest rate. It's not something I want to do, but it doesn't make much since to be investing in the TSP or a Roth IRA, while having excessive credit card debt.

Though some tough budget reductions and sticking to a plan, I expect to have it all payed off within 2 years. After that everythings a cakewalk and I'll be able to invest 20% of my paycheck a month.

I hope someone here reads this and learns from it... :rolleyes:

Steadygain
09-23-2008, 10:17 AM
I hope someone here reads this and learns from it... :rolleyes:

If we were all gathered together somewhere (anywhere) and you shared this...


Everyone would cheer for you and show you the greatest support.

XL-entLady
09-23-2008, 10:19 AM
I'm taking out a TSP loan and using it to pay off some credit cards with a higher interest rate. It's not something I want to do, but it doesn't make much since to be investing in the TSP or a Roth IRA, while having excessive credit card debt.
When my husband and I finally woke up to our long-term financial picture, that's the way we did it too. We paid off our 19% interest cards with a TSP loan.

I treated the loan on my personal spreadsheets as being invested in G Fund while we paid the loan off. We just adjusted the amount we would have had in G Fund anyway. For example, if the loan was 10% of our total TSP fund, and we wanted to have 50% of our TSP in G Fund, then we put 40% in our G Fund and counted the loan as the other 10%. That's a little simplistic from the way my spreadsheets actually treated it, but you get the idea.

Good luck with it!
Lady

ChemEng
09-23-2008, 10:24 AM
The key thing is to not get back into revolving CC debt again. If you think may be an issue, then I wouldn't recommend taking out the loan at all and just sucking it up and paying it off with the high interest rate.

XL-entLady
09-23-2008, 10:30 AM
The key thing is to not get back into revolving CC debt again. If you think may be an issue, then I wouldn't recommend taking out the loan at all and just sucking it up and paying it off with the high interest rate.
Big huge thumbs up to your comment, ChemEng!

When we started this, we had 4 credit cards. We got a debit card connected to our one checking account, cut up 3 of the credit cards and locked the fourth one up in the gun safe so that we'd have it in some dire emergency. And we haven't used a credit card since - in years.

That is the absolute total key to making it work!

Lady

JTH
09-23-2008, 10:31 AM
The key thing is to not get back into revolving CC debt again.

I completely agree with you. This is the second time in 12 years I've put myself in this situation.

Over the years I've gotten a bit wiser and since I joined this site over a year ago, I've learned so much and now I focus on the future more then ever. :D

Guest2
09-23-2008, 10:37 AM
Credit Reporting Agencies, Collection Departments, Company Attorneys
and Credit Card Debt are problems which I can relate to in my younger
years. Refinancing of your home to payoff your obligations is not the
best move, but it was my only option back then. When all else fails, you
can absorb $18k into your mortgage balance and make principle only
payments (additional to your normal payment) to get back to your pre
existing balance when better times arrive. Again, I don't believe it should
be your first consideration, but it is a option. Leave your TSP alone unless
you've exhausted every possible solution. ;) JMHO.

ChemEng
09-23-2008, 10:45 AM
And we haven't used a credit card since - in years.I may have been unclear in my post. I have absolutely 0 problems with credit card debt--just as long as it is paid in full every month. We use a 2% cash back card that we put all of our monthly expenses onto and then make sure to pay it off every month. I would put my mortgage payment on there if it were possible.

XL-entLady
09-23-2008, 11:23 AM
I may have been unclear in my post. I have absolutely 0 problems with credit card debt--just as long as it is paid in full every month. We use a 2% cash back card that we put all of our monthly expenses onto and then make sure to pay it off every month. I would put my mortgage payment on there if it were possible.
That is great for you and is a good way to get the 2% premium.

My problem, and I'm embarrassed to say it, is that I'm a credit card drunk. One is too many and a thousand aren't enough. Every time I've gotten myself into deep financial waters it's because the credit was too easy and the day of reckoning was ignored. So I put myself into credit card AA! I'm a credit card alcoholic with five years of sobriety a day at a time!

:embarrest:
Lady

Buster
09-23-2008, 11:45 AM
Good topic..

The bottom line, and I'm sure you are all saying it too..Is discipline!

I have the usual Lowe's, Home Depot, Sears, and gas..I pay them off every month...Also if you have any dormant CC accounts, my advise is to cancel or close those accounts NOW!..makes a nice difference on your credit score.;)

Silverbird
09-23-2008, 11:58 AM
Well....a little caveat. You want to keep one long-existing card account open, lock the card away if you need to. If you don't have any credit accounts, or you closed everything at once, your credit score can be adversely affected.

JTH
09-23-2008, 12:05 PM
About a year ago Bank of America changed my interest rate from 7.99% to 18% and they didn't tell us. When I called them about it, they wouldn't budge one bit. So I canceled the account and now they are banned for life!

I could continue to play the credit card swipe game where I'm constantly looking for the best interest rate. But I'd rather owe myself then someone else and I think TSP debt looks better then Credit card Debt.

Pill
09-23-2008, 12:05 PM
Great topic!

Like most I have learned the hard way. Including a bankruptcy at 26. How in the hell does one get bankrupt at 26. But I have learned. I have a few posts in here about credit scores if interested in the topic.

I finally paid my last credit card payment last pay period. It felt great and I don't plan on having a balance that I can't pay in full each month.

Creating an excel spread sheet saving every receipt and inputting it with a list of expenses, assets and liabilities has been the best thing I have ever done for myself. What took me forever to actually do, has really helped me to see my financial future. I recommend to every one who doesn't already have some thing in place.

JTH
09-23-2008, 12:06 PM
Well....a little caveat. You want to keep one long-existing card account open, lock the card away if you need to. If you don't have any credit accounts, or you closed everything at once, your credit score can be adversely affected.

I've heard the same thing too, and they look at the precentage you owe on each card.

Buster
09-23-2008, 12:27 PM
Well....a little caveat. You want to keep one long-existing card account open, lock the card away if you need to. If you don't have any credit accounts, or you closed everything at once, your credit score can be adversely affected.
Right..I said close the dormant ones, not all of them..;)

ChemEng
09-23-2008, 12:40 PM
Welcome to the only business in the country that can change the price of a purchase months or years after you purchased it.


About a year ago Bank of America changed my interest rate from 7.99% to 18% and they didn't tell us.

Show-me
09-23-2008, 12:50 PM
Welcome to the only business in the country that can change the price of a purchase months or years after you purchased it.


Sounds like Hank Paulson is trying to get into that business too.:blink:

Silverbird
09-23-2008, 01:59 PM
About a year ago Bank of America changed my interest rate from 7.99% to 18% and they didn't tell us. When I called them about it, they wouldn't budge one bit. So I canceled the account and now they are banned for life! BofA bought out my primary credit card company (MBNA) and sent us our new grand spanking contract with 20%+ interest. That's my credit card that I now lock away as evil, nothing on it. Every month I get begger mail from BofA offering me all sorts of short term very little interest credit that can at any time balloon into a monster. And they say ARMS are only in real estate. HA! I now have a new card from my friendly neighborhood Federal credit union that stays at 8%.

wv-girl
09-23-2008, 02:14 PM
I think I've done or be through just about what everyone else has. I worked two jobs for years and thought $ was no object to buying what I wanted. Wrong, well I was young and dumb, but learned along the way(as we must do). The reason I am posting is to ask(or inform) about a small problem. My credit is excellent, owe only a small amt on home mortgage, and then began to wonder why my home owners insurance kept going up..sometime 2x a year. After lots of calling, asking, finding out info, etc. It seems the new thing(at least for the past couple of years) is to use your credit rating in order to get an insurance rating. They are not one in the same.

After talking to several supervisors, agents, and anyone else I could, they finally let me know that even though I have excellent credit -- it counted against me in the insurance rating! Go figure. Although I owe nothing on credit cards, etc... I had not closed many of accounts.(I usually just let the expiration run out--and tear up any new cards they send) Since I never would have or use a cc that had an annual fee, I saw no harm in doing this. Even if they have zero balances and are years old, these insurance types use anything so you "don't get the best possible rates." Well, now that I have talked ya'alls ears off here is my question(finally). Has this happened to anyone else here?

alevin
09-23-2008, 02:37 PM
I learned about this game last year. I was appalled as it has nothing to do with insurance. If a person doesn't pay the premiums, they lose their coverage, simple as that-what risk to the insurance company from your other financial biz? None. From what you say here, I guess there is a reason to formally close out one cc I never use. I only have 2 others.

Frixxxx
09-23-2008, 02:37 PM
I had not closed many of accounts.(I usually just let the expiration run out--and tear up any new cards they send)

Wrong, I used to work for Experian in another life. Revolving debt hurts worse than debt limits. If you have one card with a $10,000 limit and make occasional purchases and paid them off every month your score would be ok because of debt management.


Since I never would have or use a cc that had an annual fee, I saw no harm in doing this. Even if they have zero balances and are years old, these insurance types use anything so you "don't get the best possible rates." Well, now that I have talked ya'alls ears off here is my question(finally). Has this happened to anyone else here?
Since you have a lot of available credit and the # of accounts are many, more than 5 is bad, you can carry $0.00 balance but your revolving credit is affected because your "ABILITY" to charge is not being utilized, therefore, your not "managing" your debt. Your score is affected.

But the kicker is, your credit score was never created to qualify a person to buy a house. You might think - I know it's crazy, but it's TRUE! (I'm not caught between the moon and New York City, leave that alone)
It was a trustworthy score between merchants. Banks just decided to start using it and now it is an inherent part of the housing industry.

Anyway, trivia aside, for new people and those needing a refresher course:
http://www.credit.com/credit_information/
I'm not endorsing their products, but their information page is very robust for a quick read!:cool:

wv-girl
09-23-2008, 02:55 PM
Thanks for the reply Frixxx, if by revolving credit you mean dept store, then the only one I had was sears and that was used only for a disability/death policy at about ten dollars a month, which I paid off every month. The credit cards I am referring to are like Chase, Mastercard, etc. Do you know anything about how insurance rates are calculated? I could get very few answers except what I wrote above. Very frustating. wv-girl

Frixxxx
09-23-2008, 03:26 PM
Thanks for the reply Frixxx, if by revolving credit you mean dept store, then the only one I had was sears and that was used only for a disability/death policy at about ten dollars a month, which I paid off every month. The credit cards I am referring to are like Chase, Mastercard, etc. Do you know anything about how insurance rates are calculated? I could get very few answers except what I wrote above. Very frustating. wv-girl

Insurance companies use your credit score as well. But if your credit is good, it shouldn't adjust your insurance payment. You should get the best possible. If you have a low credit score, remember, it might just be the agency the insurer used, then you need to find out why that score is so bad and request a report to see why.

Remember there are three agencies, Equifax, Transunion, and Experian. All the scores can be different. If you have a 700 with Experian, but a 625 with Transunion, that could cause issues. The insurer may get the Transunion report and quote you a different price. Ask the Insurer who they used and go straight to the source to determine the offset/discrepancy and try to correct if possible.

http://www.credit.com/products/auto/Credit-and-Car-Insurance.jsp

^ good information as well.:cool:

Show-me
09-23-2008, 06:09 PM
Since we are on the subject of credit card here is a quick story from me, today.

Just got off the phone with Bergner's because I was infuriated to receive my statement with a balance of $16 when I paid the balance last month in full. A grand total of $39.33, I always pay the balance in full as not to incur interest charges. I do my billing online and apparently I was one day late and they assessed what equated to a 50% late fee and raise the interest rate from a outrageous 21.90% to a unbelievable 35.77%.

Needless to say my mood was :mad::mad::mad::mad: and I proceeded to tell the customer service lady, who I know hate to talk to people like me, that I wanted the card remove from existence. She offered to remove the fee and lower the rate back to the original outrageous amount. Once I get my next statement and verify that this all happened the card will be GONE!

We own several department store card in order to get the store discounts and I am seriously rethinking that policy.

Show-me
09-23-2008, 06:10 PM
Insurance companies use your credit score as well. But if your credit is good, it shouldn't adjust your insurance payment. You should get the best possible. If you have a low credit score, remember, it might just be the agency the insurer used, then you need to find out why that score is so bad and request a report to see why.

Remember there are three agencies, Equifax, Transunion, and Experian. All the scores can be different. If you have a 700 with Experian, but a 625 with Transunion, that could cause issues. The insurer may get the Transunion report and quote you a different price. Ask the Insurer who they used and go straight to the source to determine the offset/discrepancy and try to correct if possible.

http://www.credit.com/products/auto/Credit-and-Car-Insurance.jsp

^ good information as well.:cool:


I hear everyone uses credit scores now, even potential employers. Even landlords.

nnuut
09-23-2008, 06:23 PM
As I've said before the Credit Card Companies are just as big CROOKS an the Mortgage Companies. I keep one credit card from my credit union 8.something% interest. I did buy a big screen and audio system from Circuit City and took their no interest for a year credit card, the fine print said if I was late on a payment it would go up to about 28%. I paid it off in 2 months, with the help of the STIMULUS money! There use to be a limit on the interest rate that could be charged for loans, what happened to that? They need regulation BIG TIME they are cheating Americans every day and need to go to JAIL! MAD AS HELL!!!! 37%??? that's not a crime?! 4736

Birchtree
09-23-2008, 06:23 PM
Yes, your credit score will follow you like an albatross. And it says a lot regarding any risk that a lender may take. Keep it high and keep it clean.

wv-girl
09-23-2008, 08:53 PM
Insurance companies use your credit score as well. But if your credit is good, it shouldn't adjust your insurance payment. You should get the best possible. If you have a low credit score, remember, it might just be the agency the insurer used, then you need to find out why that score is so bad and request a report to see why.

Remember there are three agencies, Equifax, Transunion, and Experian. All the scores can be different. If you have a 700 with Experian, but a 625 with Transunion, that could cause issues. The insurer may get the Transunion report and quote you a different price. Ask the Insurer who they used and go straight to the source to determine the offset/discrepancy and try to correct if possible.

http://www.credit.com/products/auto/Credit-and-Car-Insurance.jsp


Ok. All that is ok. I am aware of all of this. Let me give just a little more info. I have one of the highest credit scores you can get. While I was on the phone to the insurance companies, I have my copy of my credit report in front of me. I had just obtained it using all three of the reporting companies you listed above. I tried for over an hour on the phone to find out why my insurance was being increased. The same rules they use for issuing credit scores do not apply when determining insurance scores. I tried to get the info on what the insurance company uses in their scoring system. This is the question and the insurance companies do not want you to know. I got such a run around you would not believe. Bottom line is the insurance companies can skirt around the issues in order to charge what they want to. There is absolutely nothing wrong with my credit but that they wanted to try and use that as an excuse until I told them that I had a very recent (that day)copy in front of me and still did not understand how they reached their conclusions. Then they said they only used it as a guideline but the determining factors is in how the insurance rates you. They would not give up the info on how or what they used to determine that. After an hour of going in circles he finally agreed to send me what they used in scoring. That was just to get me off the phone. The info they sent said absoutely nothing other than they have a scoring process. More crooks in action. I finally gave up(which is what they wanted) but then moved my policy to another insurance co. At least I am getting better rates. I understand with all of the natural disasters that we have had warrants some sort of increase but twice in the same year? In case anyone wants to know my old insurance companies name pm me. They are one of the BIG ones.

Thanks for all the info and the posts. Mucho appreciate.

wv-girl

^ good information as well.:cool:[/quote]

wv-girl
09-23-2008, 08:56 PM
As I've said before the Credit Card Companies are just as big CROOKS an the Mortgage Companies. I keep one credit card from my credit union 8.something% interest. I did buy a big screen and audio system from Circuit City and took their no interest for a year credit card, the fine print said if I was late on a payment it would go up to about 28%. I paid it off in 2 months, with the help of the STIMULUS money! There use to be a limit on the interest rate that could be charged for loans, what happened to that? They need regulation BIG TIME they are cheating Americans every day and need to go to JAIL! MAD AS HELL!!!! 37%??? that's not a crime?! 4736


Legalized exhortion. We try that we would go to jail.

fabijo
09-24-2008, 09:50 AM
This is a great topic. In Feb 2006, I used the TSP Loan to pay off my credit card debt. I didn't have any house to use as equity. At the time, my credit card kept hovering around $4,000. I'd make some nice chunks in it, but something would happen - like getting a car inspection and ending up with a huge bill at the end of the day. :mad:

I took out a $10,000 loan, paid off the card, and planned to use the rest for my wife getting a start on being a self-employed artist. A few months later, my car was stolen. So the rest of the money went to buying a used car. At least I did not go into any extra debt! I finished paying off the loan this January. By that time, I had gotten so used to getting by without that money, that it immediately went into my savings account every paycheck. That was great, because then I was offered a promotion which would involve a move. So in those few months, I was able to really build up some extra money in savings for the down payment on a house.

All this to say that I am so happy to not be using a credit card any more. I consider regular savings deposits a bill that I MUST pay. My wife and I have been able to manage our money without using credit cards for two years and we've consistently put away savings - and that is with just one income. She doesn't get paid except maybe some random check for three hundred dollars after two months or something. So, we're able to provide for ourselves, our kids, and make payments on a $280k house on just my income - and I don't make 6 figures. My pay is well under $100k.

A coworker of mine has consistently been making $20-$30k more than me, plus his wife worked, and they were drowning in credit card debt. It eventually became one of the factors that led to their divorce. Some people say that you shouldn't touch the TSP, but if that's what needs to be done, go for it - it could save a dying marriage. You'll never find a loan at a better rate. It takes discipline, but living without a credit card can be done.

Frixxxx
09-24-2008, 10:46 AM
..... I understand with all of the natural disasters that we have had warrants some sort of increase but twice in the same year? In case anyone wants to know my old insurance companies name pm me. They are one of the BIG ones.

Thanks for all the info and the posts. Mucho appreciate.

wv-girl

^ good information as well.:cool:
Yes, Insurance companies are feeling the pinch from claims lately. However, what is really causing insurance to be in issue is the insurers of the insurers.

Your credit score is "one" aspect of your insurance cost. Unfortunately, if you have a low credit score, this means you are not trustworthy. It has also shown that people with low credit scores will make more claims thus costing the insurance companies more. You say you don't have this issue so keep going:

If your credit score is perfect, then it comes down to location, car, driving record. Location is the number of cars stolen in area, distance to work, zip codes. Car is cost of replacement, so how much does your car cost? Now driving record, points are bad and we all know this.

So, if you feel you are getting a raw deal, then caveat emptor. You know what to do and it looks like you are/have shopped for a new company.

I know it feels like wasted time when you have to sit on the phone and listen to customer service and their bland scripted responses. But if it saves you a lot of money, then consider it an investment with return on your money and your sanity.:cool:

Steadygain
09-24-2008, 01:17 PM
My wife and I have been able to manage our money without using credit cards for two years and we've consistently put away savings - and that is with just one income. She doesn't get paid except maybe some random check for three hundred dollars after two months or something. So, we're able to provide for ourselves, our kids, and make payments on just my income


Sorry my friend - but I would have to argue on her behalf.

Number ONE - she is a Mother - which is the only role close enough to what God represents to give us an understanding of how loving, caring, self sacrificing and wholly in touch a Creator could be with all that's created and especially life itself.

So her pay goes far beyond Money - her pay are the bonds she's developed which instill the nurturing, love, and care to her family, friends, and others.

Her relationships - are way beyond what's in her purse.

Number TWO - her pay (money wise) is way more characterized by the manner in which she lives and her endless efforts to find the better deals and conserve - to keep spending to a minimal.

Number THREE - What she does with her life as a mother and as a wife - in the typical household chores she maintains; let alone what she saves the family by maintaining supplies, grocerices, clothes, and attention she provides for the physical and emotional needs of others would probably come close to 6 figures (if not go beyond it).

Number FOUR - She is the one that mostly maintains the value of the house and keeps it a huge "nestegg" over the years.

Well, I've said enough...and need to get back to work. ;):)

fabijo
09-24-2008, 02:17 PM
Sorry my friend - but I would have to argue on her behalf.

Number ONE - she is a Mother - which is the only role close enough to what God represents to give us an understanding of how loving, caring, self sacrificing and wholly in touch a Creator could be with all that's created and especially life itself.

So her pay goes far beyond Money - her pay are the bonds she's developed which instill the nurturing, love, and care to her family, friends, and others.

Her relationships - are way beyond what's in her purse.

Number TWO - her pay (money wise) is way more characterized by the manner in which she lives and her endless efforts to find the better deals and conserve - to keep spending to a minimal.

Number THREE - What she does with her life as a mother and as a wife - in the typical household chores she maintains; let alone what she saves the family by maintaining supplies, grocerices, clothes, and attention she provides for the physical and emotional needs of others would probably come close to 6 figures (if not go beyond it).

Number FOUR - She is the one that mostly maintains the value of the house and keeps it a huge "nestegg" over the years.

Well, I've said enough...and need to get back to work. ;):)

You are correct, Steady, and of all people, I am the one that often reminds her of the things you just brought up. She is very hard on herself and keeps saying that she doesn't deserve the gifts I buy her, because - she says - she doesn't make any money. I have to be very, very, very encouraging and gentle. I often tell her that all the money in the house is earned just as much, if not more, by her. How could we possibly have gotten where we are if it wasn't for her self-sacrifice? If I was a single dad, my sons would be so unhealthy and a menace to society.

And just to give her some public kudos, here's her blog:

http://journal.glauciamir.com

and her photoblog:

http://mircats.com/photoblog

Steadygain
09-24-2008, 02:54 PM
She is very hard on herself and keeps saying that she doesn't deserve the gifts I buy her, because....

Thank you so much for your response and I promise when I have more time I'll gladly go into the links more deeply.

I would say her 'LOVE LANGUAGE' - is "Acts of Service" and when she tells you "I don't deserve these gifts...." it's because the gifts aren't conveying what I know YOU GENUINELY WANT TO CONVEY.

Surprise her: 'Help with the simple everyday things like setting the table, washing the dishes, folding laundry, vacuuming and all those other things....and whatever you do - don't draw attention to yourself, but do it humbly and out of respect and admiration.

I bet that would mean way more to her than a purchased gift, and you would find how touched she is how "well you scored".

Have a good night my friend. Will return tomorrow.

fabijo
09-24-2008, 05:24 PM
Hey, thanks Steady. Actually her love language is gifts. She just likes the little gifts like a card on a random day or a flower out of nowhere. When I secretly save up my per diem money, then buy her a fancy lens or camera, that's when she gets all choked up, saying she doesn't deserve that stuff.

I've nearly tortured myself with doing all kinds of things around the house only to have her notice the one thing I didn't do. We discussed a lot about the love languages and if anything, I'm the one whose language is service.

JTH
09-24-2008, 08:01 PM
I wonder how many credit cards is too many? I wonder what kind of activity balance wise becomes a good reflection on your credit.

I have three Credit Cards cards now and one debit. I've had up to 5 and I've known people who had more then 10 :nuts:

Buster
09-24-2008, 10:29 PM
One thing I count as a blessing during this Credit Crunch...I haven't been receiving the countless CC 0% offers in the mail lately...My junk mail is almost nothing right now..:)

fabijo
09-25-2008, 04:18 AM
One thing I count as a blessing during this Credit Crunch...I haven't been receiving the countless CC 0% offers in the mail lately...My junk mail is almost nothing right now..:)

hmm. Good point. I figured it was because I just moved.

Show-me
09-25-2008, 05:24 AM
One thing I count as a blessing during this Credit Crunch...I haven't been receiving the countless CC 0% offers in the mail lately...My junk mail is almost nothing right now..:)

O'yes, USPS is in panic mode. Mail volume is way down and energy prices are killing us. And, labor too, but we don't talk about that.

Buster
09-25-2008, 07:42 AM
I love the USPS..but I would like you guys to have Saturdays off..at least in the delivery area.

Show-me
09-25-2008, 07:53 AM
I love the USPS..but I would like you guys to have Saturdays off..at least in the delivery area.

Me too and cluster boxes on every gravel road instead of house to house delivery and the closure of some small post offices that take in $1,000 in revenue while we pay a post master salary, rent, electric, gas, water, and maintenance. Once again I make th argument that I should be supreme leader of the country if not the world.:nuts::D

Steadygain
09-25-2008, 02:16 PM
I wonder how many credit cards is too many? I wonder what kind of activity balance wise becomes a good reflection on your credit.

I have three Credit Cards cards now and one debit. I've had up to 5 and I've known people who had more then 10 :nuts:

I have 2 that I use consistently throughout the year and refuse anymore. Once my credit line went over $30,000 I've never given it another thought (so have no idea what my credit limits are now).

I also have a Debit Card and an Amazon Card for the rare book I buy.

My Credit Score is 832 with 840 being the highest score possible. Those 8 points got me to delete and distroy all other Cards.

Our Family Activity (mostly my wife's) with all the groceries, gas, drug store stuff (due to 5% discount) is is about $1,300 to $2,000 a month; but we always pay it off in full so there's never any extra cost. No one would ever need more than 2 Cards and that's only because once you got $300 back from one - you should stive to get another $300 from another. If CHASE offered $600 a year I'd only use one card.

ATCJeff
09-25-2008, 03:00 PM
I have 2 that I use consistently throughout the year and refuse anymore. Once my credit line went over $30,000 I've never given it another thought (so have no idea what my credit limits are now).

I also have a Debit Card and an Amazon Card for the rare book I buy.

My Credit Score is 832 with 840 being the highest score possible. Those 8 points got me to delete and distroy all other Cards.

Our Family Activity (mostly my wife's) with all the groceries, gas, drug store stuff (due to 5% discount) is is about $1,300 to $2,000 a month; but we always pay it off in full so there's never any extra cost. No one would ever need more than 2 Cards and that's only because once you got $300 back from one - you should stive to get another $300 from another. If CHASE offered $600 a year I'd only use one card.

Part of your score is open credit. If memory serves me correct, it's 20%. Don't close the accounts, just don't use them unless you payoff the balance at the end of the cycle.

BTW, great score.

XL-entLady
09-25-2008, 03:11 PM
I also have a Debit Card and an Amazon Card for the rare book I buy.

My Credit Score is 832 with 840 being the highest score possible. Those 8 points got me to delete and distroy all other Cards.

Awesome credit score, my sparkling friend! I'm very proud of my hard-earned credit score, which is always in the low 800's, but I can't get it to go over 820. So great job!

And you all should have bought Amazon stock the day I got my Amazon card! ;) My Amazon book purchases equal about the GNP of a small country! :o And I've asked Santa Claus for a Kindle. I've been a very, very good girl! :nuts:

Lady

P.S. I don't really have an Amazon card, I use my debit card to buy my (many, many, many ....) Amazon books. Because I don't use credit cards. For reasons already explained. :embarrest:

fabijo
09-25-2008, 08:44 PM
My Amazon book purchases equal about the GNP of a small country!

BOOKS! I've been known to go on sudden ebay shopping sprees just to get books. A few years ago, I went nuts buying old nuclear physics books! :nuts:

Buster
09-25-2008, 09:25 PM
BOOKS! I've been known to go on sudden ebay shopping sprees just to get books. A few years ago, I went nuts buying old nuclear physics books! :nuts:
yer such an animal...:D:D

XL-entLady
09-25-2008, 09:27 PM
BOOKS! I've been known to go on sudden ebay shopping sprees just to get books. A few years ago, I went nuts buying old nuclear physics books! :nuts:
Boy, do I hear what you're saying there! I know this is off topic, but it's one of my favorite subjects!

My husband uses ebay to buy stuff like car parts, and OHV doodads and fishing supplies. I use ebay to buy books, and book series, and packages of books by favorite authors, and did I mention books?! :blink: :D

That's one of the reasons I want a Kindle. I don't have room for any more bookcases but I really need more books! Speaking of hooked ..... Okay, I'm done now.

Lady

ATCJeff
09-30-2008, 06:46 PM
Another shoe to drop

Bad credit-card debt could be next shot to economy, researcher says


http://www.marketwatch.com/news/story/bad-credit-card-debt-could-next-shot/story.aspx?guid=%7BDE0C0B15%2D4760%2D491C%2DA0F4%2 DD34CBD96F7B7%7D&dist=hplatest

McDuck
09-30-2008, 09:36 PM
I love the USPS..but I would like you guys to have Saturdays off..at least in the delivery area.

Buster, That's a very gay avatar. What's up with that?

McDuck
09-30-2008, 09:43 PM
but we always pay it off in full so there's never any extra cost.

Credit card companies call people like that "Deadbeats".

Buster
09-30-2008, 09:53 PM
Buster, That's a very gay avatar. What's up with that?
LOL..nothin...LOL:laugh:

Birchtree
09-30-2008, 10:26 PM
He's simply trying to pull Digger away from me. He probably knows the joys of her expertise.

alevin
09-30-2008, 10:30 PM
:D
BOOKS! I've been known to go on sudden shopping sprees just to get books.

ROFLMAO! Books? Did somebody mention BOOKS? I ran out of room in my house for new books a few years ago, no more room for more bookcases, decided I had to reread, downsize, move 'em out, recycle, give away, sell, donate, anything to make room for more new BOOKS! :laugh: Barnes and Noble LOVEs me and my credit card when I go to big city, which is only every few months, but boy do I load up when I get the chance. Impulse buyer me. budgetbuster=books. (I do always pay off the credit card end of the month tho). Just means I'm not socking enough away into CDs or TSP maybe. :embarrest:

XL-entLady
09-30-2008, 11:34 PM
:D

ROFLMAO! Books? Did somebody mention BOOKS? ... Impulse buyer me. budgetbuster=books.
Alevin, I just keep finding out more things we have in common! I tried to make my bookcases quit overflowing by trying a "one book in, one book out" policy - - but it was just too painful!! :embarrest::rolleyes:

Lady

wv-girl
09-30-2008, 11:38 PM
Alevin, I just keep finding out more things we have in common! I tried to make my bookcases quit overflowing by trying a "one book in, one book out" policy - - but it was just too painful!! :embarrest::rolleyes:

Lady
That never works. If you're like me, you have extra wide shelves so that you can double up. I too can spend hours in a book store but have to admit that lately I haven't had much time to do so. :)

fabijo
10-01-2008, 12:12 AM
I too can spend hours in a book store but have to admit that lately I haven't had much time to do so. :)

I've got two young sons, 5 and 7. There have been random nights that my wife and I got her parents to watch the kids. Where do we go? Barnes and Noble or Borders. :D No interrupting kids, plenty of peace. It's also where I like to go when I go on travel for work.

XL-entLady
10-01-2008, 07:01 AM
That never works. If you're like me, you have extra wide shelves so that you can double up. I too can spend hours in a book store but have to admit that lately I haven't had much time to do so.

Yes, VW-Girl, extra wide shelves, and still not enough space! :nuts: I have them catalogued by subject and then by author. My husband will go to put a book back for me and I'll say, "No that's a science fiction bookcase. The mysteries are in the bookcases in the office." And he rolls his eyes and grins. :embarrest:

BTW, I enjoyed the gems discussion you and JB45 had, too! Thanks for sharing! :)


I've got two young sons, 5 and 7. There have been random nights that my wife and I got her parents to watch the kids. Where do we go? Barnes and Noble or Borders. No interrupting kids, plenty of peace. It's also where I like to go when I go on travel for work.
I know the feeling, Fabijo! My husband says he thinks if I'm really good in this life, when I die I'll go to Barnes and Noble! :laugh:

If this conversation goes on any longer, we might need to make another thread!

Lady

McDuck
10-01-2008, 10:21 AM
That never works. If you're like me, you have extra wide shelves so that you can double up. I too can spend hours in a book store but have to admit that lately I haven't had much time to do so. :)

Don't you mean extra deep ?

wv-girl
10-01-2008, 11:06 AM
Don't you mean extra deep ?
Yes, I stand corrected. Thanks for the clarification.