topic Re: Credit is addictive, ever satisfied? in General Credit Topics

Credit is addictive, ever satisfied?

PrimeHokage — Thu, 23 Jan 2020 02:49:07 GMT

Not sure is this is the right place for this but I've been on the site for a little less than two years and thanks to you guys I got my scores from mid 500s to mid 700s. In that time I have learned that credit is addictive. What I mean by that is I want higher and higher credit limits and pre-approvals from cards I don't even want or fit my spending habits or needs. I have finally got to a place where I have a system of cards that fit me but I want bigger limits. I guess what I am asking is do you ever become satisfied and guess go in to the garden for ever? What goals did you set that were once I get there I am done?

Re: Ever satisfied?

Moneyklutz — Thu, 23 Jan 2020 02:53:49 GMT

I don't think my experience will apply towards everyone else here but after went through the proverbial ugly divorce and subsequent journey to rebuild my credit and life, I started learning the wisdom shared on this site like you and all I wanted was a leg up on how to get back to "normal". 8+ years later I'm there (mid 800's and PIF on all every month) and I look at each credit card I have now and possible future ones just like I do the tools in my shop.

Do I need something specific for the benefit it offers? ...then I work towards getting it. (ooh lookie! a BANDSAW!)

Do I need a larger CL for utilization? ...time and usage can make that happen. (sharpen that chisel till it cuts without effort)

I'll always return here to continue honing the cards I have (and may get) to the best possible edge but I'm content now.

I never really had an end goal clearly defined, but once I got there, it was clear to me inside that more cards "just to have them" brought no emotional reward.

Re: Credit is addictive, ever satisfied?

Kforce — Thu, 23 Jan 2020 03:30:33 GMT

@PrimeHokage wrote:
Not sure is this is the right place for this but I've been on the site for a little less than two years and thanks to you guys I got my scores from mid 500s to mid 700s. In that time I have learned that credit is addictive. What I mean by that is I want higher and higher credit limits and pre-approvals from cards I don't even want or fit my spending habits or needs. I have finally got to a place where I have a system of cards that fit me but I want bigger limits. I guess what I am asking is do you ever become satisfied and guess go in to the garden for ever? What goals did you set that were once I get there I am done?

This forum has a majority that are addicted to getting cards, asking for CL increases, lowering APR's, and changing the deck.

However a few of us have a natural resistance.

Re: Credit is addictive, ever satisfied?

M_Smart007 — Thu, 23 Jan 2020 04:03:52 GMT

@PrimeHokage wrote:
Not sure is this is the right place for this but I've been on the site for a little less than two years and thanks to you guys I got my scores from mid 500s to mid 700s. In that time I have learned that credit is addictive. What I mean by that is I want higher and higher credit limits and pre-approvals from cards I don't even want or fit my spending habits or needs. I have finally got to a place where I have a system of cards that fit me but I want bigger limits. I guess what I am asking is do you ever become satisfied and guess go in to the garden for ever? What goals did you set that were once I get there I am done?

Re: Credit is addictive, ever satisfied?

Andypanda — Thu, 23 Jan 2020 05:27:21 GMT

Yes I'm addictied. But even with more cards, ir higher cl, i will not spend more. I only buy stuff i eoukd have bought if i was using cash or debit. As the addiction is costing you money, i fon't have a problem with it.

Re: Credit is addictive, ever satisfied?

tcbofade — Thu, 23 Jan 2020 05:38:42 GMT

Not sure if satisfied is the correct term, but I got to a place where there is nothing out there that is better than what I have.

I am still carrying balances, but they're ALL at zero or 1.99 percent.

It's hard to borrow money for less than free...

Re: Credit is addictive, ever satisfied?

Gmood1 — Thu, 23 Jan 2020 14:48:02 GMT

@Kforce
Look at it this way.You're the Yin and I'm the Yang. 😂
In nature there must be a balance. Well I'm that counterbalance for you.😉
For every spend bonus, CLI, 0% transfer offer you pass on. I'm here to scoop them up for you my friend.😆
Know that I'll always be here for you.🤗

As Obi-Wan Kenobi and Yoda instructed Luke. To embrace the force. Well I've embraced it. 😬😂

Re: Credit is addictive, ever satisfied?

GApeachy — Thu, 23 Jan 2020 14:50:10 GMT

@PrimeHokage wrote:
What goals did you set that were once I get there I am done?

Past searches will reveal a lot (me for one) of peeps eating their words. Credit is better than chocolate!

Goal forward in credit health!

Re: Credit is addictive, ever satisfied?

Save-n-Invest — Thu, 23 Jan 2020 15:38:46 GMT

@GApeachy wrote:
@PrimeHokage wrote:
What goals did you set that were once I get there I am done?
Past searches will reveal a lot (me for one) of peeps eating their words. Credit is better than chocolate!
Goal forward in credit health!

Heresy!

Re: Credit is addictive, ever satisfied?

M_Smart007 — Thu, 23 Jan 2020 16:01:37 GMT

@GApeachy wrote:
@PrimeHokage wrote:
What goals did you set that were once I get there I am done?
Past searches will reveal a lot (me for one) of peeps eating their words. Credit is better than chocolate!
Goal forward in credit health!

I want both ..

Re: Credit is addictive, ever satisfied?

Anonymous — Thu, 23 Jan 2020 16:19:24 GMT

i am indeed addicted to getting my credit scores up.

it tanked pretty bad in 2019 after my divorce, so focusing on getting my scores up and getting new cards is pretty much on my mind 24/7.

joining this forum is just adding to the addiction..haha

feel like focusing a lot on this is keeping my mind busy from thinking about the divorce and other crap.

Re: Credit is addictive, ever satisfied?

GApeachy — Thu, 23 Jan 2020 16:56:11 GMT

@M_Smart007 wrote:
@GApeachy wrote:
@PrimeHokage wrote:
What goals did you set that were once I get there I am done?
Past searches will reveal a lot (me for one) of peeps eating their words. Credit is better than chocolate!
Goal forward in credit health!
I want both ..

Need the link...and quick!

Re: Credit is addictive, ever satisfied?

GApeachy — Thu, 23 Jan 2020 16:58:39 GMT

@Anonymous wrote:
this is keeping my mind busy from thinking about the divorce and other crap.

Are you having Credit Dreams yet?

Re: Credit is addictive, ever satisfied?

Anonymous — Thu, 23 Jan 2020 17:08:01 GMT

hmm...not sure yet.

could've and just dont remember haha

@GApeachy wrote:
@Anonymous wrote:
this is keeping my mind busy from thinking about the divorce and other crap.
Are you having Credit Dreams yet?

Re: Credit is addictive, ever satisfied?

iced — Thu, 23 Jan 2020 21:35:35 GMT

@PrimeHokage wrote:
Not sure is this is the right place for this but I've been on the site for a little less than two years and thanks to you guys I got my scores from mid 500s to mid 700s. In that time I have learned that credit is addictive. What I mean by that is I want higher and higher credit limits and pre-approvals from cards I don't even want or fit my spending habits or needs. I have finally got to a place where I have a system of cards that fit me but I want bigger limits. I guess what I am asking is do you ever become satisfied and guess go in to the garden for ever? What goals did you set that were once I get there I am done?

I don't set credit goals, I set financial goals. Credit's just a means to an end and has no impact on finances, so it takes an auxilliary role only - maybe one card offers more relevant rewards for my existing spend, but as long as my ability to place that spend on said cards is met, there's nothing to gain from the excess credit limit. Credit limits don't expand one's assets or wealth in any way since anything charged must be repaid.

Ask yourself what's more interesting: $100,000 in total credit lines or $100,000 in cash sitting in your bank? Perhaps this approach will take your mind off credit itself and make it seem a little less addictive. It can also set you up for an "addiction" that has significantly more positive outcomes if reached.

Re: Credit is addictive, ever satisfied?

Anonymous — Thu, 23 Jan 2020 21:48:01 GMT

I'm mostly satisfied now. I still have Cash+ and Chase Freedom in the long term goals but other than that I'm actually going to close some accounts this year.

Re: Credit is addictive, ever satisfied?

Kforce — Thu, 23 Jan 2020 23:07:31 GMT

@Gmood1 wrote:
@Kforce
Look at it this way.You're the Yin and I'm the Yang. 😂
In nature there must be a balance. Well I'm that counterbalance for you.😉
For every spend bonus, CLI, 0% transfer offer you pass on. I'm here to scoop them up for you my friend.😆
Know that I'll always be here for you.🤗

As Obi-Wan Kenobi and Yoda instructed Luke. To embrace the force. Well I've embraced it. 😬😂

"May the Force be with you"

Re: Credit is addictive, ever satisfied?

Anonymous — Fri, 24 Jan 2020 03:17:54 GMT

@iced wrote

... Ask yourself what's more interesting: $100,000 in total credit lines or $100,000 in cash sitting in your bank?

I find the credit to be much more interesting.

Re: Credit is addictive, ever satisfied?

Kforce — Fri, 24 Jan 2020 03:57:17 GMT

@iced wrote:

I don't set credit goals, I set financial goals. Credit's just a means to an end and has no impact on finances, so it takes an auxilliary role only - maybe one card offers more relevant rewards for my existing spend, but as long as my ability to place that spend on said cards is met, there's nothing to gain from the excess credit limit. Credit limits don't expand one's assets or wealth in any way since anything charged must be repaid.

Ask yourself what's more interesting: $100,000 in total credit lines or $100,000 in cash sitting in your bank? Perhaps this approach will take your mind off credit itself and make it seem a little less addictive. It can also set you up for an "addiction" that has significantly more positive outcomes if reached.

+ 100

Investing is addictive, and makes credit cards less interesting.

Re: Credit is addictive, ever satisfied?

tacpoly — Fri, 24 Jan 2020 06:51:37 GMT

@iced wrote:
@PrimeHokage wrote:
Not sure is this is the right place for this but I've been on the site for a little less than two years and thanks to you guys I got my scores from mid 500s to mid 700s. In that time I have learned that credit is addictive. What I mean by that is I want higher and higher credit limits and pre-approvals from cards I don't even want or fit my spending habits or needs. I have finally got to a place where I have a system of cards that fit me but I want bigger limits. I guess what I am asking is do you ever become satisfied and guess go in to the garden for ever? What goals did you set that were once I get there I am done?
I don't set credit goals, I set financial goals. Credit's just a means to an end and has no impact on finances, so it takes an auxilliary role only - maybe one card offers more relevant rewards for my existing spend, but as long as my ability to place that spend on said cards is met, there's nothing to gain from the excess credit limit. Credit limits don't expand one's assets or wealth in any way since anything charged must be repaid.

Ask yourself what's more interesting: $100,000 in total credit lines or $100,000 in cash sitting in your bank? Perhaps this approach will take your mind off credit itself and make it seem a little less addictive. It can also set you up for an "addiction" that has significantly more positive outcomes if reached.

^^^ This, absolutely. What good is it to have $1,000,000 in credit limits if you can only ever afford to spend $1,000? Work on making and saving money. Practice good financial discipline. You'll end up with the credit lines/cards you desire organically.