topic Re: Had to come to a realization tonight. in Credit Cards

Had to come to a realization tonight.

LS2982 — Fri, 09 Nov 2012 00:33:15 GMT

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!

(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!)

Re: Had to come to a realization tonight.

youngandcreditwrthy — Fri, 09 Nov 2012 00:35:58 GMT

ahh don't feel down on yourself.

You just have to use credit responsibly...

I have prob $8k in cc debt, but it's all at 0%, and I get paid on commission+ I have that much in short term investments... so I do a little floating.

Re: Had to come to a realization tonight.

wallyworld123 — Fri, 09 Nov 2012 00:40:48 GMT

The good news is that you recognized the problem and took care of the problem Good for u LS.

Re: Had to come to a realization tonight.

webhopper — Fri, 09 Nov 2012 00:44:21 GMT

LS... you will be fine. I know what its like to go from 3k in available credit to over 40k in a short amount of time. I was fortunate to have the lines when I needed them but honestly the zync is my primary card because I am forced to pay it off every month.

Try using zync more and bring lunch or eat home more. You will be fine its just a learning curve of learning how to manage crazily huge credit limits.

Re: Had to come to a realization tonight.

webhopper — Fri, 09 Nov 2012 00:51:19 GMT

All of my cards except for zync and my debit card stays in an expanding file folder now... so if I am out and about I have to use zync and it makes me question whether I really need that purchase and if I will be able to pay the bill when its due.

When I use amazon card; discover card; or nfcu card it takes a conscience decision plus a few.extra.steps.to actually get the card out to use it.

Re: Had to come to a realization tonight.

Duncanrr — Fri, 09 Nov 2012 00:51:52 GMT

I just got in that boat. NFCU over night tripled my total CL. I haven't gotten the card yet but I need to figure out a system that maximizes my pts but keeps me in budget.

Re: Had to come to a realization tonight.

Anonymous — Fri, 09 Nov 2012 01:00:52 GMT

@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!

(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!)

Hey LS...

Keep your head up...i know what you mean....my DW got laid offabout 2 month ago.....i have about 4700 in cc debt....most of it is 0 %......so i am there with you....

my amex craving has been reached.......

good luck to you.....

Re: Had to come to a realization tonight.

beb86 — Fri, 09 Nov 2012 01:03:57 GMT

I feel for you and im glad you have put the brakes on before it got worse....your smart and will be clear of this debt in no time..... but thank you for sharing this so people can also realize before we end up like we were before most of us found this site.

Re: Had to come to a realization tonight.

Anonymous — Fri, 09 Nov 2012 01:04:01 GMT

No worries. I/we are all in at 5 figures too. Luckily, we have about 180K in credit lines. In the process of a refi, just dropped a car payment, and our wedding is done. Now we are in serious repay/budget/cost cutting mode. Debt sucks but we all have to focus on paying it back.

Re: Had to come to a realization tonight.

Anonymous — Fri, 09 Nov 2012 01:08:48 GMT

As a long time lurker, I have pretty much watched your entire ascension. I knew that around the time you obtained your Discover account though, that you would probably end up here. I'm not taking a personal stab, I just know from experience. I have been in your situation before. You get some new toys and before you know it, those toys aren't as appealing anymore. So like any other normal human being, you start pressing for bigger and better things. Just being approved for each new account can be a rush and it's addicting. I think most of us site been in a similar situation before, whether it was credit, a car, or a house. If people say otherwise, then they must be Spock.

It's something to clearly learn from, but nothing that can't be repaired over time. Be smart.

Re: Had to come to a realization tonight.

Anonymous — Fri, 09 Nov 2012 01:18:23 GMT

I would recommend (if not against posting regulations) a book "Your Money Ratios: 8 Simple tools for Financial Security" by Charles Farrell. Book was so good, I purchased copies for other people to read.

Re: Had to come to a realization tonight.

Anonymous — Fri, 09 Nov 2012 01:50:10 GMT

@wallyworld123 wrote:
The good news is that you recognized the problem and took care of the problem Good for u LS.

Re: Had to come to a realization tonight.

CS800 — Fri, 09 Nov 2012 01:54:03 GMT

LS:

Good thing you recognized the problem. I know where you're coming from. My CL increased by over 500% and it was very tempting to go crazy and I did a bit. But I have toned down a lot in the past months.

Keep your head up and I'm sure you will do the right thing. We have all been there

Re: Had to come to a realization tonight.

beb86 — Fri, 09 Nov 2012 01:57:04 GMT

Maybe you should try a little Dave Ramsey total money make over

Re: Had to come to a realization tonight.

guydiver — Fri, 09 Nov 2012 01:58:50 GMT

Most of us here have been, are still, or will be in the same boat. It's part of life. I too am paying off my 5-figure CC debt, but I am making good progress. Got my student loans paid off, car notes, and two cards. Gives me breathing room. Finally got all my reports clean and I App'd for my first new card in a couple of years, mostly for the util. while I pay down my balances. I use my debit card a lot, and I have to think twice when I pull out the cc. Funny how hard times do that. Congrats on your new state of mind.

Re: Had to come to a realization tonight.

Anonymous — Fri, 09 Nov 2012 01:59:04 GMT

It is a good thing you are coming to this realization now. You should be able to control your debt at this point. I wish I would have had an awaken much earlier on. I had over $50k in credit lines at one point with about $25k in balances. As a young twenty-something with little experience with credit, it went bad and fast. I spent way more than I was making and then bam serious health problems, job loss, and bankruptcy! I wish I actually used this forum way back when and saved myself before I lost my job and my credit. I wish you all the best of luck!!

Re: Had to come to a realization tonight.

Epcot — Fri, 09 Nov 2012 02:09:50 GMT

I tip my hat off to you. Not many have are humble enough to admit that their spending is too high and have the willpower to admit it and do something about it.

Re: Had to come to a realization tonight.

calihlove75 — Fri, 09 Nov 2012 02:42:12 GMT

@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!

(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!)

Giving you big big hugs! It will all work out

Re: Had to come to a realization tonight.

Anonymous — Fri, 09 Nov 2012 02:45:13 GMT

Good for you, can't fix the problem without admitting there is one. Good luck to you.

Re: Had to come to a realization tonight.

Anonymous — Fri, 09 Nov 2012 02:48:10 GMT