As I come up on 2 years of abstinence from gambling and overspending, I looked at my past and the damage I did. In 2010 I had over $70,000 in credit card debt, countless 120 day late payments, settlements and a $125,000 home equity debt that I'm still paying off. The credit card debt is gone, I still owe $109,000 on the loan and have 6 credit cards with a balance of $100. My credit score is 700, having dropped because of housing inquiries, a new car and a hard pull swap of a AMEX everyday to a BCE. I still churn cards but only one new card in the past year. 4 last year. 2 closed cards this year, 3 closed cards last year. I'm 55. I just hope people here don't do what I did. I like to remind folks that credit can be dangerous but mildly profitable if you don't carry a balance. Take care.
