Crossing The CC Rubicon

[Anonymous]

Somewhere along the way, I recently crossed the credit card Rubicon. I'm not sure when exactly it happened, but I noticed it when I was issued my WAMU $2K CL CC a couple of weeks ago.

Before crossing, you care deeply and look forward to with excitement and anticipation at the mere chance of being issued a CC, regardless of how costly the terms may be. When one's been in the credit desert, and I know the feeling all too personally and painfully, it is a natural reaction and response. You're a happy puppy with a chew toy at getting a Cap 1 card with a $300 CL that they ain't gonna report--although that changed recently. The pursuit of more CCs, higher CLs, better terms, lower APRs, low and no annual fees, are all part of "the hunt", and it's invigorating.

But then one day you wake up and discover you're on the southern bank and no longer in Cisalpine Gaul. You don't care or get emotional about getting a new card. It was like that when I opened the envelope for the WAMU. Oh, another card. Hmmmm. Have to call and activate the stupid thing.

You've not reached a destination. You're on a journey, and the outcome isn't guaranteed. Julius Caesar prevailed for a while, but 5 years later was murdered. CCs can do that to a person's finances. If you're smart and ruthless with your CCCs, you will live to old age.

But make no mistake. CCCs are your Brutus who plot to murder you, financially.

Friends close, enemies closer, CCCs closer still.

Message Edited by Noah_Bodie on 08-17-2007 07:18 PM

[Anonymous]

Dang Noah_Bodie! I see you've had a lot of time for some serious introspection and retrospection today, huh? Thing is, I agree with you. I was addicted a couple weeks ago, but now that I've gotten every card I wanted, with the exception of Discover, I'm like "okay, now what?"  I'm done, for a WHILE. I guess it was the thrill of the chase. Now that I know that there's a 95% chance I'll get approved for a card if I apply I have no desire anymore.

---

Noah_Bodie wrote:

Somewhere along the way, I recently crossed the credit card Rubicon. I'm not sure when exactly it happened, but I noticed it when I was issued my WAMU $2K CL CC a couple of weeks ago.

Before crossing, you care deeply and look forward to with excitement and anticipation at the mere chance of being issued a CC, regardless of how costly the terms may be. When one's been in the credit desert, and I know the feeling all too personally and painfully, it is a natural reaction and response. You're a happy puppy with a chew toy at getting a Cap 1 card with a $300 CL that they ain't gonna report the CL--although that changed recently. The pursuit of more CCs, higher CLs, better terms, lower APRs, low and no annual fees, are all part of "the hunt", and it's invigorating.

But then one day you wake up and discover you're on the southern bank and no longer in Cisalpine Gaul. You don't care or get emotional about getting a new card. It was like that when I opened the envelope for the WAMU. Oh, another card. Hmmmm. Have to call and activate the stupid thing.

You've not reached a destination. You're on a journey, and the outcome isn't guaranteed. Julius Caesar prevailed for a while, but 5 years later was murdered. CCs can do that to a person's finances. If you're smart and ruthless with your CCCs, you will live to old age.

But make no mistake. CCCs are your Brutus who plot to murder you, financially.

Friends close, enemies closer, CCCs closer still.

---

[Anonymous]

Very nice piece....you really hit the nail on the head.

[smallfry]

Careful Noah. You keep thinking like that and you'll never become a credit ho. Thing is I agree. I'm done myself.

[Anonymous]

I enjoyed your message Noah!  So true, so true.

My last application for a credit card was on 8/17/07 and that was a Chase Visa Platinum balance transfer card only @ 0%, 3%, $99 cap.....from now to 2009.  I was given the "30 day wait and see notice"  instant notice.  If I get it fine, if not that's fine too!  Chase is not ideally a favorite of mine. 

I am glad that I do have 11 credit cards (not all have a balance, but are open and so far the credit lines are intact).  So I do have back-up in case of FR, CLD, etcs. 

SandyK

[MidnightVoice]

I am very happy with 3 ccs, a store card and a gas card, and a Credit Union that is very useful if I have problems 

[Anonymous]

Great post Bodie... I feel very similar and yet I still hang on to some of the habits I developed during my time of repair ( which just recently ended ) Daily pulls, frequent posts on these boards and others, etc.

Example - School shopping last night with two of my four children... At the counter getting ready to pay ~ $425 and the cashier asks if I'd like to save 15% and apply for a store card. I said OK and in less than 30 seconds the nice woman said "Thank you sir! You were approved for $1000 and you saved $46."

I went home logged on to the new account and PIFd.

My point is that in a previous life, I would have said "No thanks.. " and left $46 at the point of sale.

I always felt like a loser (regardless of the car I drive or the money I make.) Now I feel like I've got the same opportunities that my peers have and it does feel pretty good.

Those of us that have successfully turned lemons into lemonade have a HUGE thing going for us... We'll NEVER take our FICO health for granted.

Again - Great post Bodie.

Rob

[Anonymous]

This is a great post--it's something we haven' talked alot about. Post-repair emotions and things. I feel like nearly all of us are in some stage of repair/improvement and it's neat how emotions change along the way.

One thing I have learned is that a good deal of depression in my mid 20's had to do with my bad credit--perhaps more then I realized. It was imprisoning in a way. I realized that I couldn't get the things I wanted--a house, even another apartment without a co-signer. Couldn't buy a computer unless I had all the cash on hand. For me the stupid credit decisions of my early 20's made me sort of a loser in my mid 20's, and now in my almost-late 20's as my credit has healed I am starting to feel like a winner again--like I can go out achieve things and get things done.

I guess we all pay for our mistakes at some point. I hope from this point on I can make as many good financial decisions as possible.

[Anonymous]

Definitely a great post. Crossed mine finally at card number11  Now my startegy is changing and working to close some of the useless cards such as store cards so that I can be in a better position to apply come March of 08.  Will stay away fromAmex though.  Just not getting a good feeling there lately.  My next white whale is the Citi Upromise

[Anonymous]

Great Post !

Brammy you shoul be good enough to go with citi upromise. I was just approved for it and your scores showing better than mine.

Wish you luck with it