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Credit is addictive, ever satisfied?

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Contributor

Re: Credit is addictive, ever satisfied?

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.





7% Util


Gardening Start 9/18/2020
Message 11 of 24
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Senior Contributor

Re: Credit is addictive, ever satisfied?


@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. Smiley Very Happy  Credit is better than chocolate!

Goal forward in credit health! Smiley Wink


I want both ..


Need the link...and quick! Smiley Very Happy

”MY TAKE HOME PAY DON’T TAKE ME HOME”
Message 12 of 24
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Senior Contributor

Re: Credit is addictive, ever satisfied?


@fredzos wrote:

this is keeping my mind busy from thinking about the divorce and other crap.


Are you having Credit Dreams yet?

”MY TAKE HOME PAY DON’T TAKE ME HOME”
Message 13 of 24
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Contributor

Re: Credit is addictive, ever satisfied?

hmm...not sure yet.

 

could've and just dont remember haha

 


@GApeachy wrote:

@fredzos wrote:

this is keeping my mind busy from thinking about the divorce and other crap.


Are you having Credit Dreams yet?


 





7% Util


Gardening Start 9/18/2020
Message 14 of 24
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Valued Contributor

Re: Credit is addictive, ever satisfied?


@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.

Message 15 of 24
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Super Contributor

Re: Credit is addictive, ever satisfied?

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. 




Message 16 of 24
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Valued Contributor

Re: Credit is addictive, ever satisfied?


@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"    Smiley LOL

FNBO 2% Cashback Visa (20k) / Bank of the West Cashback MC (20k) / US-Bank Cash+ (15k)
FNBO Travel Elite (15k) / Citi Double Cash (20k) / US Alliance 3% (20k)
Ficos : 830 / AAoA : 9 yrs / AoOA : 24 Yrs / AoYA : 0
Message 17 of 24
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Valued Contributor

Re: Credit is addictive, ever satisfied?


@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. 

 

Starting Score: (5/24/2018) -- FICO 08 EXP: 643; FICO 08 TU: 642; FICO 08 EQ: 677
Current Score (09/16/2020): FICO 08 EXP: 747; TU: 758; EQ: 775
2020 Goal Score: 760 across the board


Take the myFICO Fitness Challenge
Message 18 of 24
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Valued Contributor

Re: Credit is addictive, ever satisfied?


@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.

FNBO 2% Cashback Visa (20k) / Bank of the West Cashback MC (20k) / US-Bank Cash+ (15k)
FNBO Travel Elite (15k) / Citi Double Cash (20k) / US Alliance 3% (20k)
Ficos : 830 / AAoA : 9 yrs / AoOA : 24 Yrs / AoYA : 0
Message 19 of 24
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Established Contributor

Re: Credit is addictive, ever satisfied?


@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.

Message 20 of 24
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