Pondering the CC issues?

[Anonymous]

I certainly am not criticizing anyone. I am the product of my own boundless wants!!

Filed a 7 in 1998 b/c of CCs and most recently got myself right back in trouble with them. I would honestly like to have no CCs but I don't think that is possible today. You actually need them and keep them in rotation along with other types of credit lines.

Livin' and learnin' here!!!!

[Anonymous]

People are spoiled and have gotten a skewed sense of what qualifies as an "emergency" as well.

And, people forget what in life is a "necessity", even those that generally use CCs conservatively. So when things do get tight and they do rely on the CCs a bit, they don't go to a bare bones living style but instead keep up their prior habits, which means they create a heck of a lot more CC debt than they need to, so they're in deeper when they DO get back on their feet....

[NICKI183]

In years before it was easy to go into a store and to obtain a 10-25% discount they would issue you a credit card with a click of a button.  Most people don't even have a clue as to what a FICO score is.  They just assume that there social security number will give them that magic plastic card.

In my case it too started in college and no one ,including my parents who have excellent credit, explained to me the aftermath of credit overload.

It was not until I got married, had a child, and became a responsible  ADULT  that I learned that my errors in the past affected my current situation.

In short, I am in my mid 30's and it took a FICO forum with a mutltiude of information to set me straight on the importance of credit, FICO scores, GW letters, and how to get back on track.

The news today it more geared at discussing foreclosed of homes, a possible recession, lost jobs, WallStreet loosing revenue, large corporations closings,a dn increased gas prices BUT as a whole no on is really offering solid solutions that would aide the COMMON folk.

I believe for a small fee I have found my answer.  I read, write my comments and take notes.  This forum has allowed me to converse with knowledgable people of the US who too have either been in my situation or have succeeded in maintaining EXCELLENT credit and gives tips on how to keep it.

Thank you all.....

[Anonymous]

Couldn't have said it better myself Nicki. Well put.

[Anonymous]

For me, it all started with my first decline! I was insulted and offended, lol. So that is when I wised up and began researching this weird thing called FICO. Since then, I got edu-macated, cleaned my CRs up, and I now play the rewards games! But, it was a painful few years getting here...

[Anonymous]

For me it was all ignorance. I grew up with an Uncle who never let me get anything on credit. He made me believe that cash was the only way. By the time I hit my mid 20's I still didn't have any cc's and wanted everything. My first card was maxed out the first day. Never had anymore cc until 12/06, almost 10 years later. I found out about the importance of credit, when I really needed it and couldn't get it. Now I'm here and it's not the applying that has me hooked, it's the idea of uping the score. Got a 2 year old and one on the way. Check my post from today "Credit card cult". says it all.

Thanks again all u giving people on this forum

[Anonymous]

I'm going to opt for a mix of Ignorance, and "life happens".

My debts come from getting a CC at 18 with no education pertaining to "credit" and no knowledge that I needed that education. 

Then life happened, I met a guy who had bad credit, and bad spending habits - I got pregnant and had to work to support our family because he had employment stability issues.  Then it came down to paying those CC's (there were more by then because I didn't know what I was doing and figured if I got an app in the mail I may as well say sure, and they were used for good reason, gas food etc) or feeding/housing my child, the boyfriend (now ex), and myself.

The choice was simple.

Now I'm paying for it, but that's how life goes, and now I know what to teach my child and future children when they get close to that age.

Luckily I didn't get toooooooo deep in.  I have less than 6k in debt and over 1/3 of that is my SL which is in good standing.

Message Edited by modernsurrender on 04-02-2008 11:25 PM