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@UFGuy2006 wrote:
I shred those I don't intend to use...
So do I. Or freeze it in a block of ice if you tend to have weak moments that pass in an hour.
I read a story analyzing people's spend patterns when using a credit card versus cold hard cash and it was very common for people to spend more with the credit card. I doubt with $5k in hand, OP would spend it all on phones.
that's weird, to me cash disappears faster than when i use credit cards. at least with credit cards I know what I bought and spent on, with cash.... i have no clue, it's as if they just disappeared into thin air.
@JoshNurse wrote:The more cool cards you have the more you want to spend.
I bought 4 T-Mobile iPhone 6 Pluses. One for my little sister, my parents and myself. I am now $4300 in debt.
I thought it was cool to use my Chase Saphire Preffered to get my free points...
What is the best way to store and forget my cards?
I love when they say "Wow this card is heavy", "wow I have never seen a clear card" etc...
How do you like the phone?
@Anonymous wrote:that's weird, to me cash disappears faster than when i use credit cards. at least with credit cards I know what I bought and spent on, with cash.... i have no clue, it's as if they just disappeared into thin air.
The studies (some of which are disputed for methodology) cite about 15% increase in spending with ccs, especially reward ones. But to answer RedMiniStapler's point: For smaller amounts of cash you might be right, but you are much less likely to have $4,500 in cash to pay at the register, many find that paying the cash makes it seem much more real. In contrast, using a card, $45, $450, $4,500.... it's all sort of the same feel.
Rewards make it worse, as it may have done here. Yes, I'm paying a lot of money, but I'm getting all those lovely UR points back, so it's really pretty cheap....
@JoshNurse wrote:The more cool cards you have the more you want to spend.
I bought 4 T-Mobile iPhone 6 Pluses. One for my little sister, my parents and myself. I am now $4300 in debt.
I thought it was cool to use my Chase Saphire Preffered to get my free points...
What is the best way to store and forget my cards?
I love when they say "Wow this card is heavy", "wow I have never seen a clear card" etc...
thanks for this post...i literally was about to go out and do the exact same thing. guess, i'll just have to buy some lame groceries and pay the mortgage instead; bleh!
@mongstradamus wrote:For me i would put card in an place thats an pain in the butt to get to like an safe deposit box at the bank or something like that if you don't have willpower to not use the card.
Speaking of pain in the butt and the iPhone 6+, remember not to sit on your $4,300 worth of new phones, or you will bend them!
#Android
@14Fiesta wrote:
@mongstradamus wrote:For me i would put card in an place thats an pain in the butt to get to like an safe deposit box at the bank or something like that if you don't have willpower to not use the card.
Speaking of pain in the butt and the iPhone 6+, remember not to sit on your $4,300 worth of new phones, or you will bend them!
#Android
Yes! And whatever you do, don't put them in the microwave. LOL
Keeping CC's at home is really all that you may need to do. Not carrying them is the best way to not use them - unless you are an avid Internet shopper. Only carry around one card, that way you can better track your spending. After all, it is much easier to see one bill at the end of the month vs 5.
While what you did was very selfless, if you see being $4k in debt having a significant impact on your livlihood, your next action should probably be sitting down with your family, taking the phones back, and returning them to the store. If they are unwilling to part with them, see if they can pay you back for them. Yes, you will likely have to pay a restocking fee, yada yada, but it will be much less than what you paid for the phones and will get your out of most of the debt.
We do things sometimes when we get excited. How you react to those impulses to "fix what was done" is what is most important.
A high powered paper shredder is the best place to store them
I "sock drawer" my unused cards in a locked bank bag inside my home safe. Only I have the combo to the safe and only my wife has the combo to the bank bag. Rarely do we both have a "weak" moment at the same time.