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Had to come to a realization tonight.

Regular Contributor

Re: Had to come to a realization tonight.

LS2982 wrote:

I'm spending way too much money for what I bring in. I actually feel humbled. I remember some oddball poster saying negative things about me here and what was said was not far off from the truth.


I have to settle down and spend what I can afford. My CC debt got up to over 10k.


I have to thank my lucky stars for PSECU, they have never let me down. I was able to get a personal loan to clear half of my CC debt and thankfully the rest is on a 0% card I can make big payments on monthly.


I have this forum to thank, because I realized I grew my credit garden way too fast and got irresponsible with it. This is a lesson learned.


Thank you everyone! Smiley Happy


(And yes, I had to take a HP on EX but this is something that had to happen to get things straight. My butt will be parked in the garden for 2 years, all of my credit aspirations have been reached and they need to age!)

I am so glad I read your post.  Gives me a different kind of wake up call.  Currently, awaiting BK discharge and I've been thinking about all the cards I want to app for to start rebuilding.  I've been obsessed with trying to strategically receive CLI's and new cards but never thought about how I would manage all that new found credit.  I don't want to end up back in place I started in. Smiley Embarassed  I am gratefully humbled...thank you.


NFCU Cash Rewards $16,100/FNBO Platinum $9.100/Best Buy Citibank $2,500/Care Credit $7,600/TJ Maxx $1000/Neiman Marcus $7000/Saks5thAve $2500

Starting Score: 426 Ch. 13 BK Filed Sep 2009; Discharged Jan 2013 Smiley Happy
Current Score: TU 706 EQ FICO 701 EX 704
Goal Score: 720

Message 21 of 51
Valued Contributor

Re: Had to come to a realization tonight.

LS, so glad you came on and posted this message. I feel so lost as I've found myself in the same boat. Still in the same boat actually. Lost my job two months ago and have been trying to dig myself out of a debt hole I've found myself in. I've still been speading money to live off of until I got another job so my debt is increasing and not matching my current income. Unemployement does not pay nearly enough. Happy to report that I've found another job that I start soon so I can get back being where I want to be.

As of 2017, rebuilding...
Message 22 of 51
Valued Contributor

Re: Had to come to a realization tonight.

Man, I get jumpy when my CC debt gets around $500. 

5/2012: 560 credit scores across the board
12/2014 750+
3/2017 780+
5/2017 800+
Message 23 of 51
Valued Contributor

Re: Had to come to a realization tonight.

Everyone should see this topic. Getting approved is all good and great...but you have to use credit responsibly.

As of 2017, rebuilding...
Message 24 of 51
Moderator Emeritus

Re: Had to come to a realization tonight.

maiden_girl wrote:

Everyone should see this topic. Getting approved is all good and great...but you have to use credit responsibly.



Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!

Take the myFICO Fitness Challenge
Message 25 of 51
Valued Contributor

Re: Had to come to a realization tonight.

Thanks a lot for your posting..............Most of us here need to realize something specially those young folks in 20+ ...............We all never know when that day came.........

Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
Goal Score: 800

Walmart: 10k |Usaa: 8k|BCE: 13k| Amex: NSPL|Dis: 9.4k|Cap: 5.5k|CAP: 2k|CSP: 13.4k| Pen:4.5k

Message 26 of 51
Valued Contributor

Re: Had to come to a realization tonight.

man wish you the best! my biggest fear is being in debt...

Amex BCE (2500) / Amex SPG (4000) / Amex GoldPR / Merrill+ Visa siggy (5000) / BofA Amex (6000) / Bofa cash rewards (5000) / BofA Privileges Cash Rewards (5000) / Citi Forward (4400) / Citi DP (2000) / Chase Freedom (4000) / Chase CSP (5000) / Chase Hyatt (5000) / Discover IT (1700) / FNBO AMEX (3600) / NFCU cashRewards Visa signature (15000) / NFCU Flagship Visa signature (12500) / NFCU Navcheck (5000) / Nordstrom (500) / MetroCU Visa Elite (5000) / Walmart (4500) / Kays Jewerels (6600) / Kohls (300) / Macys Platinum (2500) / DCU platinum Visa (17500) / Citizens bank cash back (1100) / Bill Me Later (1631) / PayPal Smart connect (2200) / BestBuy store card (2000)
Message 27 of 51
Established Contributor

Re: Had to come to a realization tonight.

Great post, LS.


I know personally that it's very easy to get into bad shape again.  I have been paying debt down with a vengeance this year; went from over $25000 in revolving debt to around $6000.  However, I "took a break" over the last couple of months and went on vacation, bought a new TV, etc. - I'm already back up to around $10,000.


I've realized that it's old habits that I have to break, as well as develop new patterns of financial responsibility.  Thankfully with what I've learned here and with the improvement in my credit profile I have the remaining debt on two 0% cards, so the financial impact will be minimal at this point.  So, just last week I re-dedicated myself to getting back on track/paying everything off as originally planned, as I've got to stop this before it gets out of control.


I appreciate you sharing your story and giving us all a much-needed reminder.


See you in the garden!


P.S.  If anyone wants to know the FICO score impact of having absolutely no negatives with a 75% revolving utilization, take a look at my siggy and compare my starting to current scores (util now at 6%).  Uncontrolled debt/reckless spending can cost thousands more in increased interest, etc.   

Starting Score: Jan 2012: EQ - 659, TU08 - 670, EX - ???
Current Score:April 2014: EQ - 772, TU08 - 782, EX - 754
Last App:3/21/14

Message 28 of 51
Established Contributor

Re: Had to come to a realization tonight.

LOL I can't talk this month, I MAXED out my Navy Federal account Smiley Sad



but on the fair side I did it for a good reason, I usually keep my utility at 0-2%


Had 50k in the bank, and house shopping, I was looking for 2006 built homes, but ran across a diamond in the rough, 4 bedroom, 1980 built house, close to the beach, freeway good shopping, nice neighborhood, school districts etc. And a backyard I could probably make a 50 yard line with LOL. Anyways Asking price $78,000. 


It honestly doesn't look great from the outside, but the inside is spectacular, and the backyard and the amount of land in a good area of town is MORE than worth it. Offered $75,000 and offer was accepted.


Only problem is it had to be a CASH offer only. Borrowed 10k from parents, and 15k from Navy Federal Convience check Smiley Happy      (my interest rate is lower than most 2006 mortgages so I don't care much lol! I'll have it paid off in 3months anyways)



total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Message 29 of 51
Frequent Contributor

Re: Had to come to a realization tonight.

LS2982, I applaud you for this posting! I love this forum which has provided invaluable information and allowed me to obtain cards that I thought I did not qualify for. However, it's been a gift and a curse. I too am in the garden at least for a year until I figure a few things out. I no longer use my CC's, just a AMEX prepaid and my debit/check card. With the holiday season approaching, I'm taking control before it gets out of hand. My goal is to let the foolish inquiries & (very old) baddies fall of while paying down my debt. I have roughly 7k which I can handle with ease. It would be in my best interest not to apply for new credit until 2014, my report will no longer list any negative information. This forum had me obsessed with wanting new credit, especially when I saw other folks being approved for cards on my wish list. I have some pretty great cards in my wallet and I will exercise patience and let them grow. I put a freeze on my EXP report this week and will be doing the same for the other two tomorrow.


I wish you be the best of luck and appreciate your transparency. Smiley Happy

Message 30 of 51