i just tore up all my store cards, credit cards tec..... yay me!! I'm proud to be back in control!!
2006-10-16 11:30:26 · 16 answers · asked by lilbex87 2 in Business & Finance ➔ Personal Finance
You did great.
I am so pleased for you.
Who needs credit when you have control?
I hope you have a fantastic time.
2006-10-16 11:38:33 · answer #1 · answered by monkeymanelvis 7 · 1⤊ 0⤋
I guess you did good. But I have to tell you that credit is the American way. For major purchases like cars and houses, unless you have credit, it is tough to get a loan. Also, for emergencies, you need a credit card. Do you have $700 laying around for a major car repair or $300 for a cavity filling? It might be a good idea to have one or two Mastercards for these types of situations. Try to pay cash for everything else. Get your cards paid down if you can. But KEEP at least one or two Mastercards or Visas and a department store card for clothing. You just never know when you are going to really, really , really , need to get that car fixed or have an emergency doctor visit or an emergency trip to another state because of a death in the family. One or two or three credit cards - yes! Any more than this, probably no. You have the right idea. Good luck. (If you cut up your Mastercards/Visas, pick two and call the bank. Tell them you need a replacement.)
2006-10-16 18:44:46 · answer #2 · answered by rasckal 3 · 1⤊ 0⤋
That's good but maybe you could shift the credit card debt around on to different 0% APR cards. No interest to pay then and pay the debt off DO NOT spend on these cards! NEVER EVER get a store card again, they are total rip offs!!
2006-10-16 18:40:06 · answer #3 · answered by bumbleboi 6 · 1⤊ 0⤋
Way to go! It's sooooooooo easy to get in debt that way. You should keep one though, just in case of an emergency, lke an airline ticket, or a room reservation, etc. Most of those you can pay cash for when you get there, the card is just used as a guarantee to hold it. If you do get a bill, make sure to pay it off every month. Trust me, I learned the hard way.
2006-10-16 18:40:15 · answer #4 · answered by Hwy2?? 2 · 1⤊ 0⤋
awesome.
Now - next step - make sure that all of them have a 0 balance and no other debt is added to them. Cancel them with the issuer and get this confirmed. Monitor them online still for a few weeks until all activitiy is really closed down.
And then - celebrate!
2006-10-16 19:08:15 · answer #5 · answered by spaceskating_girl 3 · 1⤊ 0⤋
Yes, you did good. And you definately put yourself back in control. I'd recommend keeping a debit card and that's it!
2006-10-16 18:39:26 · answer #6 · answered by Clerical error 4 · 1⤊ 0⤋
Just make sure you pay them off, plus its always useful to keep hold of one with a small limit for emergencies.
2006-10-16 18:33:59 · answer #7 · answered by Anonymous · 1⤊ 0⤋
Wish I did that before I was $30k in debt.
2006-10-16 18:33:41 · answer #8 · answered by bouta45 2 · 1⤊ 0⤋
Good Job!
Hope you don't have to rent a car, Enterprise is the devil.
2006-10-16 18:32:32 · answer #9 · answered by Anonymous · 1⤊ 1⤋
Dave Ramsey would be happy!!
2006-10-16 18:39:24 · answer #10 · answered by lorriecdtn 2 · 1⤊ 0⤋